Securitizations (Tables)

9 Months Ended

Sep. 30, 2012

A summary of our securitization activity and cash flows from special purpose entities used for securitizations is as follows (in thousands):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2012		2011		2012		2011
Receivables securitized	$	1,372,044	$	954,915	$	5,721,379	$	3,872,703
Net proceeds from securitization	1,300,000		900,000		5,400,000		3,650,000
Servicing fees^(a)	60,634		49,676		178,434		147,585
Net distributions from Trusts	267,379		202,647		1,183,034		636,903

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(a)	Cash flows received for the servicing of securitizations consolidated as VIE’s are a component of finance charge income on the consolidated statements of income and comprehensive income.