-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HXOA1Wscn7jbxT7XE5W3a3fLzJkGsZeId2pn1863d+QZB9YleMDD50MjJG9RSyxA Lqi4Gov89hFfd7ssMiKsOQ== 0000914064-03-000168.txt : 20031219 0000914064-03-000168.hdr.sgml : 20031219 20031219163817 ACCESSION NUMBER: 0000914064-03-000168 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20031130 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DISTRIBUTION FINANCIAL SERVICES FLOORPLAN MASTER TRUST /NY CENTRAL INDEX KEY: 0000914064 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 137031011 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-70814-01 FILM NUMBER: 031065644 BUSINESS ADDRESS: STREET 1: C/O WILMINGTON TRUST COMPANY STREET 2: 520 MADISON AVENUE 33RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-415-0545 MAIL ADDRESS: STREET 1: DEUTSCHE FINANCIAL SERVICES CORP STREET 2: 655 MARYVILLE CENTRE DRIVE CITY: ST LOUIS STATE: MO ZIP: 63141 FORMER COMPANY: FORMER CONFORMED NAME: DEUTSCHE FLOORPLAN RECEIVABLES MASTER TRUST DATE OF NAME CHANGE: 19960327 FORMER COMPANY: FORMER CONFORMED NAME: ITT FLOORPLAN RECEIVABLES MASTER TRUST DATE OF NAME CHANGE: 19931026 8-K 1 mtnovllc.txt DISTRIBUTION FINANCIAL SERVICES FLOORPLAN MASTER TRUST 11/30/03 8-K December 15, 2003 Securities and Exchange Commission 450 Fifth Street, N.W. Judiciary Plaza Washington, D.C. 20549 Re: Form 8-K Distribution Financial Services Floorplan Master Trust Registration No. 333-84458-01 On behalf of Distribution Financial Services Floorplan Master Trust, I am transmitting herewith for filing, pursuant to the requirements of the Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System, Form 8-K. Please send either confirmation or suspense notification to e:mail address Pat.o-malley@ge.com at your earliest convenience. Sincerely, /s/ W. Steven Culp Controller SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 December 15, 2003 DISTRIBUTION FINANCIAL SERVICES FLOORPLAN MASTER TRUST (Co-Registrant and Issuer with Respect to the Securities) New York 333-84458-01 13-7031011 (State or other jurisdiction (Commission (IRS Employer of organization) File Numbers) identification No.) c/o Wilmington Trust Company 520 Madison Avenue New York, New York 10022 (Address of principal executive offices) Registrant's telephone number, including area code: (212) 415-0545 Item 5. Other Events. Copies of the monthly Certificateholders' Statements are being filed as Exhibits 1, 2, and 3 to this Current Report on Form 8-K. Item 7.(c) Exhibits. Exhibit Description EX-1 Distribution Financial Services Floorplan Master Trust Compliance/Statistical Reporting Reporting for period ending 11/30/2003 EX-2 Distribution Financial Services Floorplan Master Trust Distribution Date Statement Series 2003-1 Reporting for period ending 11/30/2003 EX-3 Distribution Financial Services Floorplan Master Trust Distribution Date Statement Series 2003-2 Reporting for period ending 11/30/2003 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DISTRIBUTION FINANCIAL SERVICES FLOORPLAN MASTER TRUST By: CDF Floorplan Receivables, L.P. By: CDF Floorplan Receivables, Inc. Its General Partner By: /s/ W. Steven Culp Title: Controller EX-1 Distribution Financial Services Floorplan Master Trust Compliance/Statistical Reporting Distribution Date 12/15/2003 Collection Period Ending 11/30/2003 Calculation Of Pool Balance 1 Total "Office" Receivables 3,268,995,911 2 Discount Factor 0.50% 3 End of month Pool Balance 3,252,650,931 Total Trust Receivables-Delinquency 4 NSF 1-30 Office 139,900 5 SAU 1-30 Office 10,941,235 6 Total 11,081,135 7 Trust Receivables 3,268,995,911 8 .75 % of Trust Receivables 0.75% 9 Total 24,517,469 10 Amount in Excess 0 11 NSF 30+ 382,222 12 SAU 30+ 3,756,908 4,139,130 Overconcentrations 13 End of month Pool Balance 3,252,650,931
Limits Actual Excess 14 A/R Receivables 20% 650,530,186 48,899,227 0 15 Asset Based Receivables 20% 650,530,186 294,060,772 0 16 Dealer concentration top 8 2.5% 81,316,273 131,313,910 49,997,637 17 Dealer concentration Other 2% 65,053,019 31,032,312 0 18 Manufacturer Concentration Top 3 15% 487,897,640 347,215,197 0 19 Manufacturer Concentration Other 10% 325,265,093 104,161,779 0 20 Product Line Concentration: 21 CE & Appl 25% 813,162,733 134,314,804 0 22 MIS 25% 813,162,733 286,315,833 0 23 Motorcycle 25% 813,162,733 463,610,139 0 24 Marine 35% 1,138,427,826 780,620,599 0 25 RV 35% 1,138,427,826 922,803,505 0 26 Music 25% 813,162,733 60,813,851 0 27 Industrial Equipment 25% 813,162,733 129,413,844 0 28 A/R 25% 813,162,733 342,959,999 0 29 Snowmobiles 25% 813,162,733 14,562,981 0 30 Other 25% 813,162,733 133,580,357 0 31 Delayed Funding Receivables 303,739,226 9/30/2003 10/31/2003 11/30/2003 Average 32 Charge Offs to Receivables (Annualized) 0.18% -0.09% -0.03% 0.02% 33 Payment Rate 41.07% 42.58% 34.85% 39.50% Net Receivable Rate - Current Month 34 Interest 5.08% 35 Discount 2.09% 36 Total 7.17% 37 Less Servicing -2.00% 38 Remaining 5.17%
EX-2 CDF Financing, L.L.C. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 11/30/03 Collection Period 11/1/03 11/30/03 Determination Date 12/11/03 Distribution Date 12/15/03
Dealer Over- Series Series Series Series Total Concentration 2003-1 2003-1 2003-1 2003-1 Date Trust Series Total Class A Class B Class C Pool Balance 1 Beginning of Month Receivables 10/31/03 3,086,107,348 2 Plus: Account Additions 11/01/03 - 3 Beginning of month Principal Receivables 11/01/03 3,086,107,348 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 11/01/03 3,070,676,811 6 Beginning of month Dealer Overconcentrations 11/01/03 34,945,810 Beginning of month 7 Unconcentrated Pool Balance 11/01/03 3,035,731,001 8 End of month Principal Receivables 11/30/03 3,268,995,911 9 Discount Factor 0.50% 10End of mo Pool Balance 11/30/03 3,252,650,931 11End of month Dealer Overconcentrations 11/30/03 49,997,637 12End of month Unconcentrated Pool Balance 11/30/03 3,202,653,294 13Overconcentrated % 11/30/03 1.54% 14Unconcentrated % 11/30/03 98.46% Certificates 15Beginning of month/closing date Invested Amount 11/01/03 34,945,810 750,000,000 716,250,000 22,500,000 11,250,000 16Allocation Percentage 11/01/03 1.33% 28.46% 27.18% 0.85% 0.43% 17End of month Invested Amount 11/30/03 49,997,637 750,000,000 716,250,000 22,500,000 11,250,000 18Principal Payments Outstanding Principal 12/11/03 - - - - - 19Balance 12/15/03 49,997,637 750,000,000 716,250,000 22,500,000 11,250,000 20Pool Factor 12/15/03 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 11/17/03 - 22Determination Date - Deposit 12/15/03 23Distribution Date Disbursement 12/15/03 - 24Excess Funding Account Balance 12/15/03 - Reserve Fund 25Required Amount 12/15/03 26,250,000 26Beginning Balance 11/17/03 26,250,000 27Deposits 11/17/03 12/15/03 20,134 28Disbursements 11/17/03 12/15/03 20,134 29Ending Balance 12/15/03 26,250,000 Collections 30Principal Allocation Percentage 11/30/03 1.65% 24.71% 23.59% 0.74% 0.37% 31Floating Allocation Percentage 11/30/03 1.65% 24.71% 23.59% 0.74% 0.37% 32Principal Collections 11/01/03 11/30/03 1,075,533,556 1,463,858 33Nonprincipal Collectio11/01/03 11/30/03 18,943,052 6,562 34Total Collections 11/01/03 11/30/03 1,094,476,608 1,470,420 Defaults 35Defaulted Amount 11/01/03 11/30/03 (93,022) 36Investor Default Amoun11/01/03 11/30/03 - (22,982) (21,948) (689) (345) Interest 37Monthly Interest 12/15/03 - 713,592 662,929 26,425 24,238 38Interest Shortfall 12/15/03 - - - - - 39Additional Interest 12/15/03 - - - - - 40Total 12/15/03 - 713,592 662,929 26,425 24,238 Servicing Fee 41Certificate Balance for Servicing Fee determination 11/01/03 750,000,000 716,250,000 22,500,000 11,250,000 42Servicing Fee Rate 2.00% 2.00% 2.00% 2.00% 43Servicing Fee 11/01/03 11/30/03 1,250,000 1,193,750 37,500 18,750 44Remaining Servicing Fee 12/15/03 1,250,000 1,193,750 37,500 18,750 Excess Servicing 45Nonprincipal Collectio11/01/03 11/30/03 18,943,052 6,562 46Servicer Advance Less Reimbursement of Servicer Advance 11/01/03 11/30/03 1,983,052 47Floating Allocation Percentage 1.65% 24.71% 23.59% 0.74% 0.37% 48Investor Nonprincipal Collections 11/01/03 11/30/03 6,562 4,680,022 4,469,421 140,401 70,200 49Investor portion of Servicer Advance Less Reimbursement 11/01/03 11/30/03 - 489,928 467,881 14,698 7,349 50Plus: Investment Proc11/01/03 11/30/03 - 20,198 51Less: 52Monthly Interest 12/12/03 - 713,592 662,929 26,425 24,238 53Prior Monthly Interest 12/12/03 - - - - - 54Additional Interest 12/12/03 - - - - - 55Reserve Fund Deposit 12/12/03 - - - - - 56Default Amount 11/01/03 11/30/03 - (22,982) (21,948) (689) (345) 57Charge-Offs 11/01/03 11/30/03 - - - - - 58Monthly Servicing Fee 12/15/03 - 1,250,000 1,193,750 37,500 18,750 59Carry-over Amount 12/15/03 - - - - - 60Carry-over Amount 61 Additional Interest 12/15/03 - - - - - 62Balance: Excess Servi11/01/03 11/30/03 6,562 3,249,538 Collection Account 63Beginning Balance 11/17/03 - 64Deposits 11/17/03 12/15/03 1,203,520 65Disbursements 11/17/03 12/15/03 1,203,520 66Ending Balance 12/15/03 - Interest Funding Account 67Beginning Balance 11/17/03 - 68Deposits 11/17/03 12/15/03 713,657 69Disbursements 11/17/03 12/15/03 713,657 70Ending Balance 12/15/03 - Principal Funding Account 71Beginning Balance 11/17/03 - 72Deposits 11/17/03 12/15/03 - 73Disbursements 11/17/03 12/15/03 - 74Ending Balance 12/15/03 - 75Total Amount Distributed 12/15/03 713,592 Interest Rate for the Next Period 76One-month LIBOR 12/15/03 01/14/03 1.16250% 77Net Receivables Rate 11/30/03 5.16788%
EX-3 CDF Financing, L.L.C. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 11/30/03 Collection Period 11/01/03 11/30/03 Determination Date 12/11/03 Distribution Date 12/15/03
Dealer Over- Series Series Series Series Total Concentration 2003-2 2003-2 2003-2 2003-2 Date Trust Series Total Class A Class B Class C Pool Balance 1 Beginning of Month Receivables 10/31/03 3,086,107,348 2 Plus: Account Additions 11/01/03 - 3 Beginning of month Principal Receivables 11/01/03 3,086,107,348 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 11/01/03 3,070,676,811 6 Beginning of month Dealer Overconcentrations 11/01/03 34,945,810 Beginning of month 7 Unconcentrated Pool Balance 11/01/03 3,035,731,001 8 End of month Principal Receivables 11/30/03 3,268,995,911 9 Discount Factor 0.50% 10End of month Pool Balance 11/30/03 3,252,650,931 11End of month Dealer Overconcentrations 11/30/03 49,997,637 12End of month Unconcentrated Pool Balance 11/30/03 3,202,653,294 13Overconcentrated Percentage 11/30/03 1.54% 14Unconcentrated Percentage 11/30/03 98.46% Certificates 15Beginning of month/closing date Invested Amount 11/01/03 34,945,810 1,000,000,000 955,000,000 30,000,000 15,000,000 16Allocation Percentage 11/01/03 1.33% 37.95% 36.24% 1.14% 0.57% 17End of month Invested Amount 11/30/03 49,997,637 1,000,000,000 955,000,000 30,000,000 15,000,000 18Principal Payments Outstanding Principal 12/11/03 - - - - - 19Balance 12/15/03 49,997,637 1,000,000,000 955,000,000 30,000,000 15,000,000 20Pool Factor 12/15/03 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 11/17/03 - 22Determination Date deposit Deposit 12/15/03 23Distribution Date Disbursement 12/15/03 - 24Excess Funding Account Balance 12/15/03 - Reserve Fund 25Required Amount 12/15/03 35,000,000 26Beginning Balance 11/17/03 35,000,000 27Deposits 11/17/03 12/15/03 26,845 28Disbursements 11/17/03 12/15/03 26,845 29Ending Balance 12/15/03 35,000,000 Collections 30Principal Allocation Percentage 11/30/03 1.65% 32.94% 31.46% 0.99% 0.49% 31Floating Allocation Percentage 11/30/03 1.65% 32.94% 31.46% 0.99% 0.49% 32Principal Collections 11/01/03 11/30/03 1,075,533,556 1,463,858 33Nonprincipal Collectio11/01/03 11/30/03 18,943,052 6,562 34Total Collections 11/01/03 11/30/03 1,094,476,608 1,470,420 Defaults 35Defaulted Amount 11/01/03 11/30/03 (93,022) 36Investor Default Amoun11/01/03 11/30/03 - (30,642) (29,263) (919) (460) Interest 37Monthly Interest 12/15/03 - 977,939 906,189 37,100 34,650 38Interest Shortfall 12/15/03 - - - - - 39Additional Interest 12/15/03 - - - - - 40Total 12/15/03 - 977,939 906,189 37,100 34,650 Servicing Fee 41Certificate Balance for Servicing Fee determination 11/01/03 1,000,000,000 955,000,000 30,000,000 15,000,000 42Servicing Fee Rate 2.00% 2.00% 2.00% 2.00% 43Servicing Fee 11/01/03 11/30/03 1,666,667 1,591,667 50,000 25,000 44Remaining Servicing Fee 12/15/03 1,666,667 1,591,667 50,000 25,000 Excess Servicing 45Nonprincipal Collectio11/01/03 11/30/03 18,943,052 6,562 46Servicer Advance Less Reimbursement of Servicer Advance 11/01/03 11/30/03 1,983,052 47Floating Allocation Percentage 1.65% 32.94% 31.46% 0.99% 0.49% 48Investor Nonprincipal Collections 11/01/03 11/30/03 6,562 6,240,029 5,959,228 187,201 93,600 49Investor portion of Servicer Advance Less Reimburse11/01/03 11/30/03 - 653,237 623,841 19,597 9,799 50Plus: Investment Proc11/01/03 11/30/03 - 26,934 51Less: 52Monthly Interest 12/12/03 - 977,939 906,189 37,100 34,650 53Prior Monthly Interest 12/12/03 - - - - - 54Additional Interest 12/12/03 - - - - - 55Reserve Fund Deposit 12/12/03 - - - - - 56Default Amount 11/01/03 11/30/03 - (30,642) (29,263) (919) (460) 57Charge-Offs 11/01/03 11/30/03 - - - - - 58Monthly Servicing Fee 12/15/03 - 1,666,667 1,591,667 50,000 25,000 59Carry-over Amount 12/15/03 - - - - - 60Carry-over Amount 61 Additional Interest 12/15/03 - - - - - 62Balance: Excess Servi11/01/03 11/30/03 6,562 4,306,236 Collection Account 63Beginning Balance 11/17/03 - 64Deposits 11/17/03 12/15/03 1,631,176 65Disbursements 11/17/03 12/15/03 1,631,176 66Ending Balance 12/15/03 - Interest Funding Account 67Beginning Balance 11/17/03 - 68Deposits 11/17/03 12/15/03 978,028 69Disbursements 11/17/03 12/15/03 978,028 70Ending Balance 12/15/03 - Principal Funding Account 71Beginning Balance 11/17/03 - 72Deposits 11/17/03 12/15/03 - 73Disbursements 11/17/03 12/15/03 - 74Ending Balance 12/15/03 - 75Total Amount Distributed 12/15/03 977,939 Interest Rate for the Next Period 76One-month LIBOR 12/15/03 01/14/03 1.16250% 77Net Receivables Rate 11/30/03 5.16788%
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