Finance Receivables (Tables)

9 Months Ended

Sep. 30, 2012

Wholesale [Member]

Dec. 31, 2011

Wholesale [Member]

Sep. 25, 2011

Wholesale [Member]

Finance Receivables

Finance receivables, net, including finance receivables held by VIEs, consisted of the following (in thousands):



	September 30, 2012			December 31, 2011			September 25, 2011
Retail	$	5,243,470		$	5,087,490		$	5,321,403
Wholesale	785,323			824,640			717,044
	6,028,793			5,912,130			6,038,447
Allowance for credit losses	(113,126		)	(125,449		)	(132,619		)
	$	5,915,667		$	5,786,681		$	5,905,828

Changes In The Allowance For Credit Losses On Finance Receivables

Changes in the allowance for credit losses on finance receivables by portfolio were as follows (in thousands):



	Three months ended September 30, 2012
	Retail			Wholesale			Total
Balance, beginning of period	$	106,180		$	8,068		$	114,248
Provision for credit losses	9,869			(800		)	9,069
Charge-offs	(19,873		)	—			(19,873		)
Recoveries	9,682			—			9,682
Balance, end of period	$	105,858		$	7,268		$	113,126
	Three months ended September 25, 2011
	Retail			Wholesale			Total
Balance, beginning of period	$	130,948		$	13,456		$	144,404
Provision for credit losses	11,833			(5,644		)	6,189
Charge-offs	(28,636		)	(173		)	(28,809		)
Recoveries	10,835			—			10,835
Balance, end of period	$	124,980		$	7,639		$	132,619
	Nine months ended September 30, 2012
	Retail			Wholesale			Total
Balance, beginning of period	$	116,112		$	9,337		$	125,449
Provision for credit losses	14,892			(2,069		)	12,823
Charge-offs	(62,779		)	—			(62,779		)
Recoveries	37,633			—			37,633
Balance, end of period	$	105,858		$	7,268		$	113,126
	Nine months ended September 25, 2011
	Retail			Wholesale			Total
Balance, beginning of period	$	157,791		$	15,798		$	173,589
Provision for credit losses	12,676			(7,671		)	5,005
Charge-offs	(86,730		)	(503		)	(87,233		)
Recoveries	41,243			15			41,258
Balance, end of period	$	124,980		$	7,639		$	132,619

Allowance For Credit Losses And Finance Receivables By Portfolio Individually And Collectively Evaluated For Impairment

The allowance for credit losses and finance receivables by portfolio, segregated by those amounts that are individually evaluated for impairment and those that are collectively evaluated for impairment, was as follows (in thousands):



	September 30, 2012
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	105,858		7,268		113,126
Total allowance for credit losses	$	105,858	$	7,268	$	113,126
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,243,470		785,323		6,028,793
Total finance receivables	$	5,243,470	$	785,323	$	6,028,793
	December 31, 2011
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	116,112		9,337		125,449
Total allowance for credit losses	$	116,112	$	9,337	$	125,449
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,087,490		824,640		5,912,130
Total finance receivables	$	5,087,490	$	824,640	$	5,912,130
	September 25, 2011
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	124,980		7,639		132,619
Total allowance for credit losses	$	124,980	$	7,639	$	132,619
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,321,403		717,044		6,038,447
Total finance receivables	$	5,321,403	$	717,044	$	6,038,447

Finance Receivables That Are Individually Deemed To Be Impaired

Aging Of Past Due Finance Receivables Including Non-Accrual Status Finance Receivables

An analysis of the aging of past due finance receivables, which includes non-accrual status finance receivables, was as follows (in thousands):



	September 30, 2012
	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Finance Receivables
Retail	$	5,093,496	$	100,706	$	29,878	$	19,390	$	149,974	$	5,243,470
Wholesale	784,155		445		217		506		1,168		785,323
Total	$	5,877,651	$	101,151	$	30,095	$	19,896	$	151,142	$	6,028,793
	December 31, 2011
	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Finance Receivables
Retail	$	4,915,711	$	107,373	$	36,937	$	27,469	$	171,779	$	5,087,490
Wholesale	822,610		777		344		909		2,030		824,640
Total	$	5,738,321	$	108,150	$	37,281	$	28,378	$	173,809	$	5,912,130
	September 25, 2011
	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Finance Receivables
Retail	$	5,148,199	$	112,370	$	37,491	$	23,343	$	173,204	$	5,321,403
Wholesale	715,745		508		197		594		1,299		717,044
Total	$	5,863,944	$	112,878	$	37,688	$	23,937	$	174,503	$	6,038,447

Recorded Investment Of Retail Finance Receivables By Credit Quality Indicator

The recorded investment of retail finance receivables, by credit quality indicator, was as follows (in thousands):



	September 30, 2012		December 31, 2011		September 25, 2011
Prime	$	4,178,726	$	4,097,048	$	4,280,000
Sub-prime	1,064,744		990,442		1,041,403
Total	$	5,243,470	$	5,087,490	$	5,321,403

Recorded Investment Of Wholesale Finance Receivables By Internal Credit Quality Indicator

The recorded investment of wholesale finance receivables, by internal credit quality indicator, was as follows (in thousands):



	September 30, 2012		December 31, 2011		September 25, 2011
Doubtful	$	10,072	$	13,048	$	8,260
Substandard	3,689		5,052		9,115
Special Mention	2,446		14,361		6,652
Medium Risk	6,035		3,032		4,305
Low Risk	763,081		789,147		688,712
Total	$	785,323	$	824,640	$	717,044