PACCAR 2011 Annual Report Download - page 62

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 over 90 days past-due and other accounts on non-accrual status. The Company uses historical data and expectations
about the future to estimate default rates for each credit quality indicator as of December 31, 2011. The table below
summarizes the Company’s finance receivables by credit quality indicator and portfolio class.
OWNER/
At December 31, 2011 WHOLESALE FLEET OPERATOR TOTAL
Performing $1,451.9 $ 4,262.8 $ 1,361.0 $ 7,075.7
Watch 46.7 37.2 13.7 97.6
At-risk 18.4 76.5 19.5 114.4
$1,517.0 $ 4,376.5 $ 1,394.2 $ 7,287.7
OWNER/
At December 31, 2010 WHOLESALE FLEET OPERATOR TOTAL
Performing $ 966.2 $ 3,544.0 $ 1,359.4 $ 5,869.6
Watch 13.8 46.6 23.2 83.6
At-risk 3.4 115.1 34.9 153.4
$ 983.4 $ 3,705.7 $ 1,417.5 $ 6,106.6
The table below summarizes the Company’s financing receivables by aging category:
OWNER/
At December 31, 2011 WHOLESALE FLEET OPERATOR TOTAL
Current and up to 30 days past-due $1,490.0 $ 4,321.8 $ 1,365.2 $ 7,177.0
31– 60 days past-due 9.1 8.7 11.9 29.7
Greater than 60 days past-due 17.9 46.0 17.1 81.0
$1,517.0 $ 4,376.5 $ 1,394.2 $ 7,287.7
OWNER/
At December 31, 2010 WHOLESALE FLEET OPERATOR TOTAL
Current and up to 30 days past-due $ 966.2 $ 3,581.1 $ 1,359.5 $ 5,906.8
31– 60 days past-due 7.7 48.5 19.7 75.9
Greater than 60 days past-due 9.5 76.1 38.3 123.9
$ 983.4 $ 3,705.7 $ 1,417.5 $ 6,106.6
Troubled Debt Restructurings: The Company modifies loans and finance leases as a normal part of its Financial
Services operations. The Company’s modifications typically result in granting more time to pay the contractual
amounts owed and charging a fee and additional interest for the modification. The Company rarely forgives
principal or accrued interest and may require principal and accrued interest payments at the time of
modification. When the Company modifies loans and finance leases for customers in financial difficulty and
grants a concession, the modifications are classified as TDRs. For the year ended December 31, 2011, the
decrease in the recorded investment for loans and leases modified as TDRs was $.2 resulting in post-
modification recorded investment of $33.1. At modification date, the pre- and post-modification recorded
investment balances by portfolio class are as follows:
OWNER/
FLEET OPERATOR TOTAL
Pre-Modification Recorded Investment $ 27.7 $ 5.6 $ 33.3
Post-Modification Recorded Investment 27.5 5.6 33.1
The balance of TDRs was $26.0 and $6.5 at December 31, 2011 and 2010, respectively.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2011, 2010 and 2009 (currencies in millions)