Exhibit 20.1
CNH Equipment Trust 2003-A
$228,000,000 Class A-1 1.26250% Asset Backed Notes due June 11, 2004
$251,000,000 Class A-2 1.460% Asset Backed Notes due February 15, 2006
$150,000,000 Class A-3a Floating-Rate Asset Backed Notes due July 16, 2007
$108,000,000 Class A-3b 1.890% Asset Backed Notes due July 16, 2007
$107,000,000 Class A-4a Floating-Rate Asset Backed Notes due September 15, 2009
$96,000,000 Class A-4b 2.570% Asset Backed Notes due September 15, 2009
$32,500,000 Class B 3.130% Asset Backed Notes due November 15, 2010
$27,500,000 3.130% Asset Backed Certificates
Please contact Kim Zier at 262-636-6644 with any questions regarding this report or email abs@cnh.com
For additional information consult http://investors.cnh.com
| | | | 1 9 | | 2 9 | | 3 9 | | 4 9 | |
Cutoff Date | | | | 1/31/2004 | |
Date Added | | | | 4/30/2003 | | 5/31/2003 | | 6/30/2003 | | 7/31/2003 | |
Pool | | Period | | Pool 1 | | Pool 2 | | Pool 3 | | Pool 4 | |
Scheduled Cashflows | | 0 | | 5,555,456.91 | | 548,161.21 | | 747,542.92 | | 160,627.59 | |
| | 1 | | 17,086,742.90 | | 1,762,500.06 | | 2,401,234.57 | | 460,420.46 | |
| | 2 | | 24,810,166.60 | | 2,004,379.09 | | 2,938,877.60 | | 560,814.86 | |
| | 3 | | 20,450,768.30 | | 7,395,624.30 | | 3,070,859.46 | | 566,196.52 | |
| | 4 | | 9,441,399.20 | | 8,890,440.92 | | 9,224,735.71 | | 603,274.75 | |
| | 5 | | 9,466,850.04 | | 1,989,091.82 | | 11,519,910.96 | | 2,237,612.27 | |
| | 6 | | 8,677,028.51 | | 2,015,292.16 | | 2,931,605.71 | | 2,194,637.91 | |
| | 7 | | 8,280,136.56 | | 2,067,831.29 | | 3,004,065.08 | | 557,303.96 | |
| | 8 | | 8,904,913.25 | | 2,011,218.21 | | 3,019,961.89 | | 709,723.56 | |
| | 9 | | 7,829,448.99 | | 2,329,135.47 | | 2,983,569.41 | | 558,066.56 | |
| | 10 | | 8,026,719.43 | | 2,384,236.96 | | 3,458,761.04 | | 508,619.61 | |
| | 11 | | 13,647,260.07 | | 2,413,731.78 | | 4,136,753.63 | | 738,473.43 | |
| | 12 | | 14,459,638.68 | | 2,235,163.13 | | 3,067,493.50 | | 662,217.68 | |
| | 13 | | 14,591,134.22 | | 2,057,758.92 | | 2,783,235.01 | | 504,529.49 | |
| | 14 | | 19,840,900.58 | | 1,989,700.46 | | 2,961,958.75 | | 521,910.28 | |
| | 15 | | 15,461,009.66 | | 7,266,138.94 | | 3,030,164.02 | | 543,368.66 | |
| | 16 | | 5,818,676.02 | | 8,798,403.77 | | 9,032,605.97 | | 575,384.54 | |
| | 17 | | 6,091,491.16 | | 1,819,058.05 | | 11,285,885.69 | | 2,239,456.11 | |
| | 18 | | 5,917,689.03 | | 1,818,605.43 | | 2,642,968.98 | | 2,163,659.56 | |
| | 19 | | 5,869,808.86 | | 1,845,322.27 | | 2,690,602.25 | | 510,843.95 | |
| | 20 | | 6,481,094.74 | | 1,808,764.07 | | 2,704,445.03 | | 631,915.41 | |
| | 21 | | 6,139,028.72 | | 2,113,358.15 | | 2,663,279.82 | | 509,044.02 | |
| | 22 | | 6,118,622.56 | | 2,173,172.92 | | 3,168,346.33 | | 459,597.98 | |
| | 23 | | 11,442,981.54 | | 2,199,092.97 | | 3,797,406.02 | | 678,005.05 | |
| | 24 | | 12,386,233.90 | | 2,011,734.08 | | 2,774,340.09 | | 605,472.45 | |
| | 25 | | 13,026,646.37 | | 1,872,771.85 | | 2,517,453.43 | | 450,635.24 | |
| | 26 | | 17,861,911.30 | | 1,779,424.06 | | 2,652,076.95 | | 467,451.29 | |
| | 27 | | 13,253,480.85 | | 6,931,918.68 | | 2,724,141.35 | | 483,219.82 | |
| | 28 | | 3,948,535.03 | | 8,243,245.40 | | 8,551,554.03 | | 515,998.24 | |
| | 29 | | 4,213,957.81 | | 1,134,693.94 | | 10,385,132.43 | | 2,254,716.07 | |
| | 30 | | 3,976,394.08 | | 1,123,986.23 | | 1,577,751.33 | | 2,005,328.66 | |
| | 31 | | 4,061,725.83 | | 1,135,469.46 | | 1,651,230.81 | | 335,645.01 | |
| | 32 | | 4,406,262.19 | | 1,132,552.84 | | 1,607,143.60 | | 442,407.46 | |
| | 33 | | 4,177,160.63 | | 1,379,483.79 | | 1,640,244.51 | | 327,077.07 | |
| | 34 | | 4,313,498.91 | | 1,395,296.07 | | 1,994,478.39 | | 299,874.11 | |
| | 35 | | 8,434,357.71 | | 1,471,085.06 | | 2,532,690.27 | | 484,942.58 | |
| | 36 | | 9,189,005.05 | | 1,315,439.90 | | 1,772,722.29 | | 437,541.15 | |
| | 37 | | 10,190,493.45 | | 1,190,953.51 | | 1,547,743.94 | | 297,425.52 | |
| | 38 | | 13,712,891.56 | | 1,147,078.68 | | 1,643,373.08 | | 306,150.33 | |
| | 39 | | 9,999,432.49 | | 5,024,500.57 | | 1,716,094.19 | | 325,889.22 | |
| | 40 | | 2,730,011.21 | | 5,824,226.33 | | 5,770,289.80 | | 333,544.15 | |
| | 41 | | 2,876,006.90 | | 841,419.65 | | 7,026,239.18 | | 1,514,181.52 | |
| | 42 | | 2,726,394.55 | | 821,950.37 | | 1,122,615.74 | | 1,348,071.01 | |
| | 43 | | 2,755,901.44 | | 837,865.12 | | 1,184,772.87 | | 251,034.11 | |
| | 44 | | 3,099,422.79 | | 851,756.00 | | 1,161,377.91 | | 278,013.35 | |
| | 45 | | 3,086,840.59 | | 1,052,084.11 | | 1,263,646.45 | | 425,634.17 | |
| | 46 | | 3,338,252.59 | | 1,187,713.14 | | 1,500,046.70 | | 211,630.05 | |
| | 47 | | 7,486,308.62 | | 1,173,882.05 | | 2,114,476.70 | | 435,629.84 | |
| | 48 | | 7,130,828.59 | | 1,019,551.12 | | 1,303,298.92 | | 335,588.03 | |
| | 49 | | 7,928,536.94 | | 922,333.16 | | 1,135,984.59 | | 196,644.50 | |
| | 50 | | 10,740,372.31 | | 876,187.34 | | 1,136,877.58 | | 225,492.04 | |
| | 51 | | 6,861,088.77 | | 4,399,486.08 | | 1,270,754.32 | | 275,157.74 | |
| | 52 | | 712,666.26 | | 4,893,042.19 | | 5,070,818.70 | | 268,895.17 | |
| | 53 | | 207,162.43 | | 105,550.34 | | 5,821,574.90 | | 1,357,686.20 | |
| | 54 | | 246,022.21 | | 102,809.17 | | 227,485.87 | | 1,227,289.45 | |
| | 55 | | 233,121.73 | | 60,076.31 | | 114,460.41 | | 9,136.26 | |
| | 56 | | 384,427.20 | | 63,572.00 | | 98,876.78 | | 67,710.73 | |
| | 57 | | 323,216.28 | | 106,241.09 | | 106,269.83 | | 16,978.93 | |
| | 58 | | 355,716.66 | | 137,045.10 | | 140,244.06 | | 6,899.79 | |
| | 59 | | 576,378.97 | | 83,871.13 | | 208,706.51 | | 19,269.96 | |
| | 60 | | 702,590.42 | | 160,652.43 | | 112,259.72 | | 24,469.11 | |
| | 61 | | 788,796.87 | | 86,953.75 | | 127,472.91 | | 6,899.79 | |
| | 62 | | 1,146,879.60 | | 73,423.41 | | 99,080.90 | | 6,899.79 | |
| | 63 | | 773,200.66 | | 667,864.35 | | 88,481.77 | | 24,281.37 | |
| | 64 | | 597.56 | | 324,988.67 | | 618,012.41 | | 6,899.79 | |
| | 65 | | 597.56 | | 0.00 | | 209,213.77 | | 201,789.97 | |
| | 66 | | 1,031.80 | | 0.00 | | 0.00 | | 108,757.85 | |
| | 67 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 68 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 69 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 70 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 71 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 72 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 73 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 74 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 75 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 76 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 77 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | 78 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
| | | | | | | | | | | |
Total Amount of Scheduled Cashflow | | Total | | 464,773,325.20 | | 136,900,360.88 | | 185,587,779.34 | | 39,079,963.10 | |
Discount Rate | | | | 5.400 | % | 5.400 | % | 5.400 | % | 5.400 | % |
Beginning Contract Value | | | | 449,648,570.01 | | 128,586,938.95 | | 171,803,833.35 | | 36,238,654.02 | |
Scheduled Contract Value Decline | | | | 22,977,276.03 | | 2,088,201.26 | | 2,860,047.91 | | 715,728.36 | |
Unscheduled Contract Value Decline | | | | 4,257,841.17 | | 3,090,670.35 | | 1,710,354.30 | | 501,855.34 | |
Additional Contract Value Added | | 1,000,000,000.29 | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
Ending Contract Value | | | | 422,413,452.81 | | 123,408,067.33 | | 167,233,431.13 | | 35,021,070.32 | |
1
CNH Equipment Trust 2003-A
$228,000,000 Class A-1 1.26250% Asset Backed Notes due June 11, 2004
$251,000,000 Class A-2 1.460% Asset Backed Notes due February 15, 2006
$150,000,000 Class A-3a Floating-Rate Asset Backed Notes due July 16, 2007
$108,000,000 Class A-3b 1.890% Asset Backed Notes due July 16, 2007
$107,000,000 Class A-4a Floating-Rate Asset Backed Notes due September 15, 2009
$96,000,000 Class A-4b 2.570% Asset Backed Notes due September 15, 2009
$32,500,000 Class B 3.130% Asset Backed Notes due November 15, 2010
$27,500,000 3.130% Asset Backed Certificates
Dated Date (30/360) | | 1/15/2004 | | | |
Dated Date (act/360) | | 1/15/2004 | | | |
Scheduled Payment Date | | 2/15/2004 | | | |
Actual Payment Date | | 2/17/2004 | | | |
Days in accrual period (30/360) | | 30 | | | |
Days in accrual period (act/360) | | 33 | | | |
1 month LIBOR Rate | | 1.10000 | % | | |
| | | | | |
Collateral Summary | | | | | |
Wtd. Average Discount Rate | | 5.400 | % | | |
Beginning Contract Value | | 786,277,996.32 | | | |
Scheduled Contract Value Decline | | 28,641,253.56 | | | |
Unscheduled Contract Value Decline | | 9,560,721.16 | | | |
Additional Contract Value Purchased | | 0.00 | | | |
Ending Contract Value | | 748,076,021.60 | | | |
| | | | | |
Beginning Pre-funding Account Balance | | 0.00 | | | |
Ending Pre-funding Account Balance | | 0.00 | | | |
| | | | | |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) | | 786,277,996.32 | | | |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) | | 748,076,021.60 | | | |
| | | | | |
Collateral Performance | | | | | |
Scheduled Amounts 30 - 59 days past due | | $ | 1,645,475.04 | | 0.22 | % |
Scheduled Amounts 60 days or more past due | | $ | 722,329.98 | | 0.10 | % |
Net Losses on Liquidated Receivables | | $ | 186,061.97 | | 0.02 | % |
Cumulative Net Losses | | $ | 1,071,643.44 | | | |
Number of Loans at Beginning of Period | | 43,352 | | | |
Number of Loans at End of Period | | 42,143 | | | |
Repossessed Equipment not Sold or Reassigned (Beginning) | | $ | 406,472.68 | | | |
Repossessed Equipment not Sold or Reassigned (End) | | $ | 476,256.68 | | | |
| | | | | |
Collections and Reinvestment Income | | | | | |
Receipts During the period | | $ | 41,603,518.80 | | | |
| | | | | |
Warranty Repurchases | | | | | |
Contracts deferred beyond Final Scheduled Maturity Date | | $ | 0.00 | | | |
Government obligors | | $ | 0.00 | | | |
Total Warranty Repurchases | | $ | 0.00 | | | |
| | | | | |
Total Collections For The Period | | $ | 41,603,518.80 | | | |
| | | | | |
Reinvestment Income (excluding Pre-funding Account) | | $ | 45,021.75 | | | |
Reinvestment Income on Pre-funding Account) | | $ | 0.00 | | | |
| | | | | |
Net Swap Receipts | | 0.00 | | | |
Net Swap Termination Payments due Trust from the Swap CounterParty | | $ | 0.00 | | | |
| | | | | |
Total Collections + Reinvestment Income For The Period + Swap Receipt | | $ | 41,648,540.55 | | | |
| | | | | |
Swap Termination Payments due to Swap CounterParty | | $ | 0.00 | | | |
Prior Swap Termination Payment Shortfall | | $ | 0.00 | | | |
Total Swap Termination Payment due to Swap CounterParty | | $ | 0.00 | | | |
2
CNH Equipment Trust 2003-A
$228,000,000 Class A-1 1.26250% Asset Backed Notes due June 11, 2004
$251,000,000 Class A-2 1.460% Asset Backed Notes due February 15, 2006
$150,000,000 Class A-3a Floating-Rate Asset Backed Notes due July 16, 2007
$108,000,000 Class A-3b 1.890% Asset Backed Notes due July 16, 2007
$107,000,000 Class A-4a Floating-Rate Asset Backed Notes due September 15, 2009
$96,000,000 Class A-4b 2.570% Asset Backed Notes due September 15, 2009
$32,500,000 Class B 3.130% Asset Backed Notes due November 15, 2010
$27,500,000 3.130% Asset Backed Certificates
Actual Payment Date | | | | | | | | | | 2/17/2004 | |
| | | | | | | | | | | |
Caclulation of Distributable Amounts | | | | | | | | | | | |
| | | | | | | | | | | |
Current Servicing Fee Due | | | | | | 1.000 | % | | | $ | 655,231.66 | |
Past Due Servicing Fee | | | | | | | | | | $ | 0.00 | |
Total Servicing Fee Due | | | | | | | | | | $ | 655,231.66 | |
| | | | | | | | | | | |
Current Administration Fee Due | | | | | | $ | 500.00 | | | | $ | 166.67 | |
Past Due Administration Fee | | | | | | | | | | $ | 0.00 | |
Total Administration Fee Due | | | | | | | | | | $ | 166.67 | |
| | | | | | | | | | | |
Total Principal Balance of Notes and Certificates (Beginning of Period) | | | | | | | | | | $ | 786,277,996.32 | |
A-1 notes Beginning Principal balance | | | | | | | | | | $ | 21,223,961.44 | |
A-2 notes Beginning Principal balance | | | | | | | | | | $ | 251,000,000.00 | |
A-3a notes Beginning Principal balance | | | | | | | | | | $ | 150,000,000.00 | |
A-3b notes Beginning Principal balance | | | | | | | | | | $ | 108,000,000.00 | |
A-4a notes Beginning Principal balance | | | | | | | | | | $ | 107,000,000.00 | |
A-4b notes Beginning Principal balance | | | | | | | | | | $ | 96,000,000.00 | |
B notes Beginning Principal balance | | | | | | | | | | $ | 25,554,034.88 | |
Certificate Beginning Principal balance | | | | | | | | | | $ | 27,500,000.00 | |
| | | | | | | | | | | |
| | Type | | Coupon/ Spread | | Swap Adj. Coupon | | Daycount | | | |
A-1 notes Current Interest Due | | Fix | | 1.26250 | % | 1.26250 | % | act/360 | | $ | 24,562.31 | |
A-2 notes Current Interest Due | | Fix | | 1.46000 | % | 1.46000 | % | 30/360 | | $ | 305,383.33 | |
A-3a notes Current Interest Due | | Flt | | 0.18000 | % | 1.86300 | % | act/360 | | $ | 176,000.00 | |
A-3b notes Current Interest Due | | Fix | | 1.89000 | % | 1.89000 | % | 30/360 | | $ | 170,100.00 | |
A-4a notes Current Interest Due | | Flt | | 0.28000 | % | 2.55700 | % | act/360 | | $ | 135,355.00 | |
A-4b notes Current Interest Due | | Fix | | 2.57000 | % | 2.57000 | % | 30/360 | | $ | 205,600.00 | |
B notes Current Interest Due | | Fix | | 3.13000 | % | 3.13000 | % | 30/360 | | $ | 66,653.44 | |
Certificate Current Interest Due | | Fix | | 3.13000 | % | 3.13000 | % | 30/360 | | $ | 71,729.17 | |
| | | | | | | | | | | |
A-1 notes Past Due Interest | | | | | | | | | | $ | 0.00 | |
A-2 notes Past Due Interest | | | | | | | | | | $ | 0.00 | |
A-3a notes Past Due Interest | | | | | | | | | | $ | 0.00 | |
A-3b notes Past Due Interest | | | | | | | | | | $ | 0.00 | |
A-4a notes Past Due Interest | | | | | | | | | | $ | 0.00 | |
A-4b notes Past Due Interest | | | | | | | | | | $ | 0.00 | |
B notes Past Due Interest | | | | | | | | | | $ | 0.00 | |
Certificate Past Due Interest | | | | | | | | | | $ | 0.00 | |
| | | | | | | | | | | |
A-1 notes Interest Due on Past Due Interest | | | | | | | | | | $ | 0.00 | |
A-2 notes Interest Due on Past Due Interest | | | | | | | | | | $ | 0.00 | |
A-3a notes Interest Due on Past Due Interest | | | | | | | | | | $ | 0.00 | |
A-3b notes Interest Due on Past Due Interest | | | | | | | | | | $ | 0.00 | |
A-4a notes Interest Due on Past Due Interest | | | | | | | | | | $ | 0.00 | |
A-4b notes Interest Due on Past Due Interest | | | | | | | | | | $ | 0.00 | |
B notes Interest Due on Past Due Interest | | | | | | | | | | $ | 0.00 | |
Certificate Interest Due on Past Due Interest | | | | | | | | | | $ | 0.00 | |
| | | | | | | | | | | |
A-1 notes Total Interest Due | | | | | | | | | | $ | 24,562.31 | |
A-2 notes Total Interest Due | | | | | | | | | | $ | 305,383.33 | |
A-3a notes Total Interest Due | | | | | | | | | | $ | 176,000.00 | |
A-3b notes Total Interest Due | | | | | | | | | | $ | 170,100.00 | |
A-4a notes Total Interest Due | | | | | | | | | | $ | 135,355.00 | |
A-4b notes Total Interest Due | | | | | | | | | | $ | 205,600.00 | |
B notes Total Interest Due | | | | | | | | | | $ | 66,653.44 | |
Certificate Total Interest Due | | | | | | | | | | $ | 71,729.17 | |
| | | | | | | | | | | |
| | | | | | 1 Month LIBOR Fixed Coupon | | | | | |
A-1 Net Swap Payment Due | | | | | | 0.00000 | % | | | $ | 0.00 | |
A-2 Net Swap Payment Due | | | | | | 0.00000 | % | | | $ | 0.00 | |
A-3a Net Swap Payment Due | | | | | | 1.68300 | % | | | $ | 59,125.00 | |
A-3b Net Swap Payment Due | | | | | | 0.00000 | % | | | $ | 0.00 | |
A-4a Net Swap Payment Due | | | | | | 2.27700 | % | | | $ | 95,140.83 | |
A-4b Net Swap Payment Due | | | | | | 0.00000 | % | | | $ | 0.00 | |
B Net Swap Payment Due | | | | | | 0.00000 | % | | | $ | 0.00 | |
Certificate Net Swap Payment Due | | | | | | 0.00000 | % | | | $ | 0.00 | |
| | | | | | | | | | | |
A-1 Net Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
A-2 Net Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
A-3a Net Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
A-3b Net Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
A-4a Net Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
A-4b Net Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
B Net Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
Certificate Net Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
| | | | | | | | | | | |
A-1 Interest on Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
A-2 Interest on Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
A-3a Interest on Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
A-3b Interest on Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
A-4z Interest on Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
A-4b Interest on Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
B Interest on Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
Cert Interest on Swap Payment Past Due | | | | | | | | | | $ | 0.00 | |
| | | | | | | | | | | |
A-1 Total Net Swap Payment Due | | | | | | | | | | $ | 0.00 | |
A-2 Total Net Swap Payment Due | | | | | | | | | | $ | 0.00 | |
A-3a Total Net Swap Payment Due | | | | | | | | | | $ | 59,125.00 | |
A-3b Total Net Swap Payment Due | | | | | | | | | | $ | 0.00 | |
A-4a Total Net Swap Payment Due | | | | | | | | | | $ | 95,140.83 | |
A-4b Total Net Swap Payment Due | | | | | | | | | | $ | 0.00 | |
B Total Net Swap Payment Due | | | | | | | | | | $ | 0.00 | |
Certificate Total Net Swap Payment Due | | | | | | | | | | $ | 0.00 | |
| | | | | | | | | | | |
A-1 Net Swap Receipt | | | | | | | | | | $ | 0.00 | |
A-2 Net Swap Receipt | | | | | | | | | | $ | 0.00 | |
A-3a Net Swap Receipt | | | | | | | | | | $ | 0.00 | |
A-3b Net Swap Receipt | | | | | | | | | | $ | 0.00 | |
A-4a Net Swap Receipt | | | | | | | | | | $ | 0.00 | |
A-4b Net Swap Receipt | | | | | | | | | | $ | 0.00 | |
B Net Swap Receipt | | | | | | | | | | $ | 0.00 | |
Certificate Net Swap Receipt | | | | | | | | | | $ | 0.00 | |
| | | | | | | | | | | |
A-1 notes Principal Due | | | | | | | | | | $ | 21,223,961.44 | |
A-2 notes Principal Due | | | | | | | | | | $ | 15,736,449.11 | |
A-3a notes Principal Due | | | | | | | | | | $ | 0.00 | |
A-3b notes Principal Due | | | | | | | | | | $ | 0.00 | |
A-4a notes Principal Due | | | | | | | | | | $ | 0.00 | |
A-4b notes Principal Due | | | | | | | | | | $ | 0.00 | |
Class B notes Principal Due | | | | | | | | | | $ | 1,241,564.17 | |
Certificate Principal Due | | | | | | | | | | $ | 0.00 | |
| | | | | | | | | | | |
Total notes Interest Due | | | | | | | | | | $ | 1,083,654.09 | |
Total notes Principal Due | | | | | | | | | | $ | 38,201,974.72 | |
Net Swap/Termination Payment Due | | | | | | | | | | $ | 154,265.83 | |
Total notes Distributable Amount | | | | | | | | | | $ | 39,439,894.64 | |
| | | | | | | | | | | | | |
3
CNH Equipment Trust 2003-A
$228,000,000 Class A-1 1.26250% Asset Backed Notes due June 11, 2004
$251,000,000 Class A-2 1.460% Asset Backed Notes due February 15, 2006
$150,000,000 Class A-3a Floating-Rate Asset Backed Notes due July 16, 2007
$108,000,000 Class A-3b 1.890% Asset Backed Notes due July 16, 2007
$107,000,000 Class A-4a Floating-Rate Asset Backed Notes due September 15, 2009
$96,000,000 Class A-4b 2.570% Asset Backed Notes due September 15, 2009
$32,500,000 Class B 3.130% Asset Backed Notes due November 15, 2010
$27,500,000 3.130% Asset Backed Certificates
Actual Payment Date | | 2/17/2004 | | | |
| | | | | |
Cash Available for Distribution | | | | | |
Total Collections + Reinvestment Income For The Period | | $ | 41,648,540.55 | | | |
| | | | | |
Beginning Negitive Carry Account | | $ | 0.00 | | | |
Deposits from Negitive Carry Account to Distribution Account | | $ | 0.00 | | | |
| | | | | |
Beginning Spread Account Balance | | $ | 20,000,000.01 | | | |
Additional Deposit to Spread Account from Pre-funding | | $ | 0.00 | | | |
Deposits from Spread Account to Distribution Account | | $ | 0.00 | | | |
| | | | | |
Beginning Principal Supplement Account | | $ | 0.00 | | | |
Deposits from Principal Supplement Account to Distribution Account | | $ | 0.00 | | | |
| | | | | |
Total Cash Available | | $ | 41,648,540.55 | | | |
| | | | | |
| | | | Available Cash | |
Cash Allocation (Cashflow Waterfall) | | | | | |
| | | | | |
Servicing Fee Paid | | $ | 655,231.66 | | | |
Servicing Fee Shortfall | | $ | 0.00 | | | |
| | | | $ | 40,993,308.89 | |
Administration Fee Paid | | $ | 166.67 | | | |
Administration Fee Shortfall | | $ | 0.00 | | | |
| | | | $ | 40,993,142.22 | |
Net Swap Payment Paid | | $ | 154,265.83 | | | |
Net Swap Payment Shortfall | | $ | 0.00 | | | |
| | | | | |
Remaining Cash Available to Pay Note Interest & Swap Termination Payment | | | | $ | 40,838,876.39 | |
| | | | | |
Cash Available to Pay Note Interest | | $ | 40,838,876.39 | | | |
Cash Available to Pay Termination Payment | | $ | 0.00 | | | |
| | | | | |
Class A-1 notes Interest Paid | | $ | 24,562.31 | | | |
Class A-2 notes Interest Paid | | $ | 305,383.33 | | | |
Class A-3a notes Interest Paid | | $ | 176,000.00 | | | |
Class A-3b notes Interest Paid | | $ | 170,100.00 | | | |
Class A-4a notes Interest Paid | | $ | 135,355.00 | | | |
Class A-4b notes Interest Paid | | $ | 205,600.00 | | | |
| | | | $ | 39,821,875.74 | |
Class A-1 notes Interest Shortfall | | $ | 0.00 | | | |
Class A-2 notes Interest Shortfall | | $ | 0.00 | | | |
Class A-3a notes Interest Shortfall | | | | | |
Class A-3b notes Interest Shortfall | | $ | 0.00 | | | |
Class A-4a notes Interest Shortfall | | | | | |
Class A-4b notes Interest Shortfall | | $ | 0.00 | | | |
| | | | | |
Swap Termination Payment Paid | | $ | 0.00 | | | |
Swap Termination Payment Shortfall | | $ | 0.00 | | | |
| | | | $ | 39,821,875.74 | |
Class B notes Interest Paid | | $ | 66,653.44 | | | |
Class B notes Interest Shortfall | | $ | 0.00 | | | |
| | | | $ | 39,755,222.30 | |
Class A-1 notes Principal Paid | | $ | 21,223,961.44 | | | |
Class A-2 notes Principal Paid | | $ | 15,736,449.11 | | | |
Class A-3a notes Principal Paid | | $ | 0.00 | | | |
Class A-3b notes Principal Paid | | $ | 0.00 | | | |
Class A-4a notes Principal Paid | | $ | 0.00 | | | |
Class A-4b notes Principal Paid | | $ | 0.00 | | | |
Class B notes Principal Paid | | $ | 1,241,564.17 | | | |
| | | | $ | 1,553,247.58 | |
Deposits to Spread Account | | $ | 0.00 | | | |
| | | | $ | 1,553,247.58 | |
Certificate Interest Paid | | $ | 71,729.17 | | | |
Certificate Interest Shortfall | | $ | 0.00 | | | |
| | | | $ | 1,481,518.41 | |
Certificate Principal Paid | | $ | 0.00 | | | |
| | | | $ | 1,481,518.41 | |
Total Principal Balance of Notes and Certificates (End of Period) | | $ | 748,076,021.60 | | | |
A-1 notes Ending Principal balance | | $ | 0.00 | | | |
A-2 notes Ending Principal balance | | $ | 235,263,550.89 | | | |
A-3a notes Ending Principal balance | | $ | 150,000,000.00 | | | |
A-3b notes Ending Principal balance | | $ | 108,000,000.00 | | | |
A-4a notes Ending Principal balance | | $ | 107,000,000.00 | | | |
A-4b notes Ending Principal balance | | $ | 96,000,000.00 | | | |
B notes Ending Principal balance | | $ | 24,312,470.71 | | | |
Certificate Ending Principal balance | | $ | 27,500,000.00 | | | |
| | | | | |
Release to Seller as Excess | | $ | 1,481,518.41 | | $ | 1,481,518.41 | |
| | | | | | | | |
4
CNH Equipment Trust 2003-A
$228,000,000 Class A-1 1.26250% Asset Backed Notes due June 11, 2004
$251,000,000 Class A-2 1.460% Asset Backed Notes due February 15, 2006
$150,000,000 Class A-3a Floating-Rate Asset Backed Notes due July 16, 2007
$108,000,000 Class A-3b 1.890% Asset Backed Notes due July 16, 2007
$107,000,000 Class A-4a Floating-Rate Asset Backed Notes due September 15, 2009
$96,000,000 Class A-4b 2.570% Asset Backed Notes due September 15, 2009
$32,500,000 Class B 3.130% Asset Backed Notes due November 15, 2010
$27,500,000 3.130% Asset Backed Certificates
Actual Payment Date | | | | | | | | 2/17/2004 | | | | | |
| | | | | | | | | | | | | |
| | | | | | | | Amount | | Factor | | Per/$1000 | |
Summary and Factors | | | | | | | | | | | | | |
Total Principal Balance of Notes and Certificates (Beginning of Period) | | | | | | | | $ | 786,277,996.32 | | 0.7862780 | | $ | 786.28 | |
A-1 notes Beginning Principal balance | | | | | | | | $ | 21,223,961.44 | | 0.0930876 | | $ | 93.09 | |
A-2 notes Beginning Principal balance | | | | | | | | $ | 251,000,000.00 | | 1.0000000 | | $ | 1,000.00 | |
A-3a notes Beginning Principal balance | | | | | | | | $ | 150,000,000.00 | | 1.0000000 | | $ | 1,000.00 | |
A-3b notes Beginning Principal balance | | | | | | | | $ | 108,000,000.00 | | 1.0000000 | | $ | 1,000.00 | |
A-4a notes Beginning Principal balance | | | | | | | | $ | 107,000,000.00 | | 1.0000000 | | $ | 1,000.00 | |
A-4b notes Beginning Principal balance | | | | | | | | $ | 96,000,000.00 | | 1.0000000 | | $ | 1,000.00 | |
B notes Beginning Principal balance | | | | | | | | $ | 25,554,034.88 | | 0.7862780 | | $ | 786.28 | |
Certificate Beginning Principal balance | | | | | | | | $ | 27,500,000.00 | | 1.0000000 | | $ | 1,000.00 | |
| | | | | | | | | | | | | |
Total Principal Balance of Notes and Certificates (End of Period) | | | | | | | | $ | 748,076,021.60 | | 0.7480760 | | $ | 748.08 | |
A-1 notes Ending Principal balance | | | | $ | 228,000,000.00 | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
A-2 notes Ending Principal balance | | Pro rata% | | $ | 251,000,000.00 | | | | $ | 235,263,550.89 | | 0.9373050 | | $ | 937.30 | |
A-3a notes Ending Principal balance | | 58.14 | % | $ | 150,000,000.00 | | | | $ | 150,000,000.00 | | 1.0000000 | | $ | 1,000.00 | |
A-3b notes Ending Principal balance | | 41.86 | % | $ | 108,000,000.00 | | | | $ | 108,000,000.00 | | 1.0000000 | | $ | 1,000.00 | |
A-4a notes Ending Principal balance | | 52.71 | % | $ | 107,000,000.00 | | | | $ | 107,000,000.00 | | 1.0000000 | | $ | 1,000.00 | |
A-4b notes Ending Principal balance | | 47.29 | % | $ | 96,000,000.00 | | 94.00 | % | $ | 96,000,000.00 | | 1.0000000 | | $ | 1,000.00 | |
B notes Ending Principal balance | | | | $ | 32,500,000.00 | | 3.25 | % | $ | 24,312,470.71 | | 0.7480760 | | $ | 748.08 | |
Certificate Ending Principal balance | | | | $ | 27,500,000.00 | | 2.75 | % | $ | 27,500,000.00 | | 1.0000000 | | $ | 1,000.00 | |
| | | | | | | | | | | | | |
Class A-1 notes Interest Paid | | | | | | | | $ | 24,562.31 | | 0.0001077 | | $ | 0.11 | |
Class A-2 notes Interest Paid | | | | | | | | $ | 305,383.33 | | 0.0012167 | | $ | 1.22 | |
Class A-3a notes Interest Paid | | | | | | | | $ | 176,000.00 | | 0.0011733 | | $ | 1.17 | |
Class A-3b notes Interest Paid | | | | | | | | $ | 170,100.00 | | 0.0015750 | | $ | 1.58 | |
Class A-4a notes Interest Paid | | | | | | | | $ | 135,355.00 | | 0.0012650 | | $ | 1.27 | |
Class A-4b notes Interest Paid | | | | | | | | $ | 205,600.00 | | 0.0021417 | | $ | 2.14 | |
Class B notes Interest Paid | | | | | | | | $ | 66,653.44 | | 0.0020509 | | $ | 2.05 | |
Certificate Interest Paid | | | | | | | | $ | 71,729.17 | | 0.0026083 | | $ | 2.61 | |
| | | | | | | | | | | | | |
Class A-1 notes Interest Shortfall | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Class A-2 notes Interest Shortfall | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Class A-3a notes Interest Shortfall | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Class A-3b notes Interest Shortfall | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Class A-4a notes Interest Shortfall | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Class A-4b notes Interest Shortfall | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Class B notes Interest Shortfall | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Certificate Interest Shortfall | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
| | | | | | | | | | | | | |
Class A-1 notes Principal Paid | | | | | | | | $ | 21,223,961.44 | | 0.0930876 | | $ | 93.09 | |
Class A-2 notes Principal Paid | | | | | | | | $ | 15,736,449.11 | | 0.0626950 | | $ | 62.70 | |
Class A-3a notes Principal Paid | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Class A-3b notes Principal Paid | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Class A-4a notes Principal Paid | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Class A-4b notes Principal Paid | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
Class B notes Principal Paid | | | | | | | | $ | 1,241,564.17 | | 0.0382020 | | $ | 38.20 | |
Certificate Principal Paid | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
| | | | | | | | | | | | | |
Negitive Carry Account | | | | | | | | | | | | | |
Negitive Carry | | 0.75000 | % | 5/22/2003 | | | | 1.1804 | % | | | | |
Negitive Carry Days Remaining | | | | 11/15/2003 | | | | 0 | | | | | |
Required Negitive Carry Account | | | | | | | | $ | 0.00 | | | | | |
Beginning Negitive Carry Account | | | | | | | | $ | 0.00 | | | | | |
Negitive Carry Account Withdrawls to Distribution Account | | | | | | | | $ | 0.00 | | | | | |
Negitive Carry Released to Seller | | | | | | | | $ | 0.00 | | | | | |
Ending Negitive Carry Account Balance | | | | | | | | $ | 0.00 | | | | | |
| | | | | | | | | | | | | |
Spread Account | | | | | | | | | | | | | |
Required Spread Account Deposit (Add Loans) | | | | 2.00 | % | | | $ | 0.00 | | | | | |
Required Spread Account Target | | | | 2.50 | % | | | $ | 18,701,900.54 | | | | | |
Required Spread Account Floor | | | | 2.00 | % | | | $ | 20,000,000.01 | | | | | |
Required Spread Account | | | | | | | | $ | 20,000,000.01 | | | | | |
Beginning Spread Account Balance | | | | | | | | $ | 20,000,000.01 | | | | | |
Additional Deposit to Spread Account from Pre-funding | | | | | | | | $ | 0.00 | | | | | |
Spread Account Withdrawls to Distribution Account | | | | | | | | $ | 0.00 | | | | | |
Spread Account Deposits from Excess Cash | | | | | | | | $ | 0.00 | | | | | |
Spread Account Released to Seller | | | | | | | | $ | 0.00 | | | | | |
Ending Spread Account Balance | | | | | | | | $ | 20,000,000.01 | | | | | |
| | | | | | | | | | | | | |
Principal Supplement Account | | | | | | | | | | | | | |
Required Principal Supplement Account Balance | | | | | | | | $ | 0.00 | | | | | |
Beginning Principal Supplement Account Balance | | | | | | | | $ | 0.00 | | | | | |
Additional Deposit to Principal Supplement Account from Pre-funding | | | | | | | | $ | 0.00 | | | | | |
Principal Supplement Account Withdrawls to Distribution Account | | | | | | | | $ | 0.00 | | | | | |
Principal Supplement Account Released to Seller | | | | | | | | $ | 0.00 | | | | | |
Ending Principal Supplement Account | | | | | | | | $ | 0.00 | | | | | |
| | | | | | | | | | | | | |
Pre-funding Account | | | | | | | | | | | | | |
Beginning Pre-funding Account Balance | | | | | | | | $ | 0.00 | | | | | |
New Contract Value Purchased | | | | | | | | $ | 0.00 | | | | | |
Deposits to Spread Account | | | | | | | | $ | 0.00 | | | | | |
Deposits to Principal Supplement Account | | | | | | | | $ | 0.00 | | | | | |
Ending Pre-funding Account Balance | | | | | | | | $ | 0.00 | | | | | |
Release to seller | | | | | | | | $ | 0.00 | | | | | |
| | | | | | | | | | | | | |
Total Release to Seller | | | | | | | | $ | 2,136,916.74 | | | | | |
5