2. Finance Receivables (Tables)

9 Months Ended

Sep. 30, 2012

Finance Receivables Tables

Financial Receivables

The following table presents the components of Finance Receivables, net of unearned interest:

	September 30,			December 31,
	2012			2011
Finance Receivables	(In thousands)
Automobile finance receivables, net of unearned interest	$	717,211		$	536,773
Less: Unearned acquisition fees and originations costs		(30,115	)		(20,143	)
Finance Receivables	$	687,096		$	516,630

Delinquency status of finance receivables

The following table summarizes the delinquency status of finance receivables as of September 30, 2012 and December 31, 2011:

	September 30,		December 31,
	2012		2011
	(In thousands)
Delinquency Status
Current	$	694,126	$	512,802
31 - 60 days		13,836		9,344
61 - 90 days		6,428		6,034
91 + days		2,821		8,593
	$	717,211	$	536,773

Allowance for credit losses

The following table presents a summary of the activity for the allowance for credit losses for the three-month and nine-month periods ended September 30, 2012 and 2011:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2012			2011			2012			2011
	(In thousands)						(In thousands)
Balance at beginning of period	$	14,093		$	10,284		$	10,351		$	13,168
Provision for credit losses on finance receivables		9,465			3,982			22,012			12,034
Charge-offs		(9,578	)		(8,000	)		(26,158	)		(27,796	)
Recoveries		2,966			3,503			10,741			12,363
Balance at end of period	$	16,946		$	9,769		$	16,946		$	9,769

The following table presents a summary of such repossessed inventory together with the allowance for losses in repossessed inventory that is not included in the allowance for credit losses:

	September 30,			December 31,
	2012			2011
	(In thousands)
Gross balance of repossessions in inventory	$	9,564		$	9,246
Allowance for losses on repossessed inventory		(4,862	)		(4,765	)
Net repossessed inventory included in other assets	$	4,702		$	4,481