Exhibit 20.2
Nissan Auto Lease Trust 2004-A
Settlement Statement
for Month Ended December 31, 2004
1-Dec-04 | Distribution Date | 18-Jan-05 | |||||
Collection Period End | 31-Dec-04 | 30/360 Days | 30 | ||||
Beg. of Interest Period | 15-Dec-04 | Actual/360 Days | 34 | ||||
End of Interest Period | 18-Jan-05 | ||||||
SUMMARY | |||||||
Coupon Rate | Initial Balance | Beginning Balance | Ending Balance | Pool Factor | |||
Total Portfolio | 1,680,098,819.60 | 1,592,319,596.60 | 1,560,235,442.37 | 0.9286569 | |||
Total Securities | 1,680,098,819.60 | 1,592,319,596.60 | 1,560,235,442.37 | 0.9286569 | |||
Class A-1 Notes | 2.105630% | 265,000,000.00 | 177,220,777.00 | 145,136,622.77 | 0.5476854 | ||
Class A-2 Notes | 2.550000% | 260,000,000.00 | 260,000,000.00 | 260,000,000.00 | 1.0000000 | ||
Class A-3 Notes | 2.900000% | 357,000,000.00 | 357,000,000.00 | 357,000,000.00 | 1.0000000 | ||
Class A-4a Notes | 2.472500% | 488,000,000.00 | 488,000,000.00 | 488,000,000.00 | 1.0000000 | ||
Class A-4b Notes | 3.180000% | 100,000,000.00 | 100,000,000.00 | 100,000,000.00 | 1.0000000 | ||
Certificates | 0.000000% | 210,098,819.60 | 210,098,819.60 | 210,098,819.60 | 1.0000000 | ||
Principal Payment Due | Interest Payment | Principal per $1000 Face Amount | Interest per $1000 Face Amount | ||||
Class A-1 Notes | 32,084,154.23 | 352,430.20 | 121.0722801 | 1.3299253 | |||
Class A-2 Notes | 0.00 | 552,500.00 | 0.0000000 | 2.1250000 | |||
Class A-3 Notes | 0.00 | 862,750.00 | 0.0000000 | 2.4166667 | |||
Class A-4a Notes | 0.00 | 1,139,547.78 | 0.0000000 | 2.3351389 | |||
Class A-4b | 0.00 | 265,000.00 | 0.0000000 | 2.6500000 | |||
Certificates | 0.00 | 0.00 | 0.0000000 | 0.0000000 | |||
Total Securities | 32,084,154.23 | 3,172,227.98 | |||||
I. COLLECTIONS | |||||||
Lease Payments: ( Lease SUBI) | |||||||
Monthly Principal | 20,950,874.86 | ||||||
Monthly Interest | 6,223,055.23 | ||||||
Total Monthly Payments | 27,173,930.09 | ||||||
Interest Rate Cap Payments | 0.00 | ||||||
Advances: | |||||||
Aggregate Monthly Payment Advances | 1,413,465.89 | ||||||
Aggregate Sales Proceeds Advance | 1,281,886.52 | ||||||
Total Advances | 2,695,352.41 | ||||||
Vehicle Disposition Proceeds: | |||||||
Reallocation Payments | 1,417,596.93 | ||||||
Repurchase Payments | 47,644.43 | ||||||
Net Auction Proceeds | 0.00 | ||||||
Recoveries | 0.00 | ||||||
Net Liquidation Proceeds | 7,577,489.95 | ||||||
Excess Wear and Tear and Excess Mileage | 3,112.46 | ||||||
Remaining Payoffs | 0.00 | ||||||
Net Insurance Proceeds | 819,710.81 | ||||||
Residual Value Surplus | 1,867.19 | ||||||
Total Collections | 39,736,704.27 | ||||||
II. COLLATERAL POOL BALANCE DATA | |||||||
Number | Book Amount | Discount Rate | Securitization Value | ||||
Pool Balance - Beginning of Period | 69,944 | 1,627,039,640.56 | 4.50000% | 1,592,319,596.60 | |||
Total Depreciation Received | (20,857,605.02) | (21,059,148.93) | |||||
Principal Amount of Gross Losses | (89) | (2,288,552.58) | (2,346,549.09) | ||||
Repurchase / Reallocation | (2) | (46,229.29) | (47,644.43) | ||||
Early Terminations | (10) | (211,734.26) | (203,205.98) | ||||
Scheduled Terminations | (350) | (8,408,921.28) | (8,427,605.80) | ||||
Pool Balance - End of Period | 69,493 | 1,595,226,598.13 | 4.50000% | 1,560,235,442.37 | |||
III. DISTRIBUTIONS | |||||||
Total Collections | 39,736,704.27 | ||||||
Reserve Amounts Available for Distribution | 0.00 | ||||||
Total Available for Distribution | 39,736,704.27 | ||||||
1. Amounts due Indenture Trustee as Compensation or Indemnity | 0.00 | ||||||
2. Reimbursement of Payment Advance | 1,352,766.10 | ||||||
3. Reimbursement of Sales Proceeds Advance | 539,173.02 | ||||||
4. Servicing Fee: | |||||||
Servicing Fee Due | 1,326,933.00 | ||||||
Servicing Fee Paid | 1,326,933.00 | ||||||
Servicing Fee Shortfall | 0.00 | ||||||
Total Trustee, Advances and Servicing Fee Paid | 3,218,872.12 | ||||||
5. Interest: | |||||||
Class A-1 Notes Monthly Interest | |||||||
Class A-1 Notes Interest Carryover Shortfall | 0.00 | ||||||
Class A-1 Notes Interest on Interest Carryover Shortfall | 0.00 | ||||||
Class A-1 Notes Monthly Available Interest Distribution Amount | 352,430.20 | ||||||
Class A-1 Notes Monthly Interest Paid | 352,430.20 | ||||||
Chg in Class A-1 Notes Int. Carryover Shortfall | 0.00 | ||||||
Class A-2 Notes Monthly Interest | |||||||
Class A-2 Notes Interest Carryover Shortfall | 0.00 | ||||||
Class A-2 Notes Interest on Interest Carryover Shortfall | 0.00 | ||||||
Class A-2 Notes Monthly Available Interest Distribution Amount | 552,500.00 | ||||||
Class A-2 Notes Monthly Interest Paid | 552,500.00 | ||||||
Chg in Class A-2 Notes Int. Carryover Shortfall | 0.00 | ||||||
Class A-3 Notes Monthly Interest | 0.00 | ||||||
Class A-3 Notes Interest Carryover Shortfall | 0.00 | ||||||
Class A-3 Notes Interest on Interest Carryover Shortfall | 0.00 | ||||||
Class A-3 Notes Monthly Available Interest Distribution Amount | 862,750.00 | ||||||
Class A-3 Notes Monthly Interest Paid | 862,750.00 | ||||||
Chg in Class A-3a Notes Int. Carryover Shortfall | 0.00 | ||||||
0.00 | |||||||
Class A-4 Monthly Interest | |||||||
Class A-4a Notes Interest Carryover Shortfall | 0.00 | ||||||
Class A-4a Notes Interest on Interest Carryover Shortfall | 0.00 | ||||||
Class A-4a Notes Monthly Available Interest Distribution Amount | 1,139,547.78 | ||||||
Class A-4a Notes Monthly Interest Paid | 1,139,547.78 | ||||||
Chg in Class A-4a Notes Int. Carryover Shortfall | 0.00 | ||||||
Class A-4b Notes Interest Carryover Shortfall | 0.00 | ||||||
Class A-4b Notes Interest on Interest Carryover Shortfall | 0.00 | ||||||
Class A-4b Notes Monthly Available Interest Distribution Amount | 265,000.00 | ||||||
Class A-4b Notes Monthly Interest Paid | 265,000.00 | ||||||
Chg in Class A-4b Notes Int. Carryover Shortfall | 0.00 | ||||||
0.00 | |||||||
Certificate Monthly Interest | |||||||
Certificate Interest Carryover Shortfall | 0.00 | ||||||
Certificate Interest on Interest Carryover Shortfall | 0.00 | ||||||
Certificate Monthly Available Interest Distribution Amount | 0.00 | ||||||
Certificate Monthly Interest Paid | 0.00 | ||||||
Chg in Certificate Int. Carryover Shortfall | 0.00 | ||||||
0.00 | |||||||
Total Note and Certificate Monthly Interest | |||||||
Total Note and Certificate Monthly Interest Due | 3,172,227.98 | ||||||
Total Note and Certificate Monthly Interest Paid | 3,172,227.98 | ||||||
Total Note and Certificate Interest Carryover Shortfall | 0.00 | ||||||
Chg in Total Note and Certificate Int. Carryover Shortfall | 0.00 | ||||||
Total Available for Principal Distribution | 33,345,604.17 | ||||||
6. Total Monthly Principal Paid on the Notes | |||||||
Total Monthly Principal Paid on the Class A Notes | 32,084,154.23 | ||||||
Total Class A Noteholders' Principal Carryover Shortfall | 0.00 | ||||||
Total Class A Noteholders' Principal Distributable Amount | 32,084,154.23 | ||||||
Chg in Total Class A Noteholders' Principal Carryover Shortfall | 0.00 | ||||||
0.00 | |||||||
7. Total Monthly Principal Paid on the Certificates | 0.00 | ||||||
Total Certificateholders' Principal Carryover Shortfall | 0.00 | ||||||
Total Certificateholders' Principal Distributable Amount | 0.00 | ||||||
Chg in Total Certificateholders' Principal Carryover Shortfall | 0.00 | ||||||
0.00 | |||||||
Remaining Available Collections | 1,261,449.94 | ||||||
IV. RESERVE ACCOUNT | |||||||
Initial Reserve Account Amount | 25,201,482.29 | ||||||
Required Reserve Account Amount | 50,402,964.59 | ||||||
Beginning Reserve Account Balance | 36,399,694.82 | ||||||
Reinvestment Income for the Period | 119,789.91 | ||||||
Reserve Fund Available for Distribution | 36,519,484.73 | ||||||
Reserve Fund Draw Amount | 0.00 | ||||||
Deposit of Remaining Available Collections | 1,261,449.94 | ||||||
Gross Reserve Account Balance | 37,780,934.67 | ||||||
Remaining Available Collections Released to Seller | 0.00 | ||||||
Ending Reserve Account Balance | 37,780,934.67 | ||||||
V. POOL STATISTICS | |||||||
Weighted Average Remaining Maturity | 28.75 | ||||||
Monthly Prepayment Speed | 24.000% | ||||||
Lifetime Prepayment Speed | -55.000% | ||||||
$ | units | ||||||
Recoveries of Defaulted and Casualty Receivables | 1,597,928.67 | ||||||
Securitization Value of Defaulted Receivables and Casualty Receivables | 2,346,549.09 | 89 | |||||
Aggregate Defaulted and Casualty Gain (Loss) | (748,620.42) | ||||||
Pool Balance at Beginning of Collection Period | 1,592,319,596.60 | ||||||
Net Loss Ratio | -0.0470% | ||||||
Cumulative Net Losses for all Periods | 0.1865% | 3,132,966.50 | |||||
Delinquent Receivables: | Amount | Number | |||||
31-60 Days Delinquent | 16,826,582.88 | 706 | |||||
61-90 Days Delinquent | 2,993,798.17 | 117 | |||||
91-120+ Days Delinquent | 1,122,066.41 | 37 | |||||
Total Delinquent Receivables: | 20,942,447.46 | 860 | |||||
60+ Days Delinquencies as Percentage of Receivables | 0.26% | ||||||
Aggregate Sales Performance of Auctioned Vehicles | $ | units | |||||
Sales Proceeds | 566,125.00 | 33 | |||||
Securitization Value | 691,419.53 | ||||||
Aggregate Residual Gain (Loss) | (125,294.53) | ||||||
Cumulative Sales Performance of Auctioned Vehicles | $ | units | |||||
Cumulative Sales Proceeds | 1,616,939.00 | 91 | |||||
Cumulative Securitization Value | 1,973,758.91 | ||||||
Cumulative Residual Gain (Loss) | (356,819.91) | ||||||
VI. Reconciliation of Advances | |||||||
Beginning Balance of Residual Advance | 1,000,644.98 | ||||||
Reimbursement of Outstanding Advance | 539,173.02 | ||||||
Additional Advances for current period | 1,281,886.52 | ||||||
Ending Balance of Residual Advance | 1,743,358.48 | ||||||
Beginning Balance of Payment Advance | 3,260,479.91 | ||||||
Reimbursement of Outstanding Payment Advance | 1,352,766.10 | ||||||
Additional Payment Advances for current period | 1,413,465.89 | ||||||
Ending Balance of Payment Advance | 3,321,179.70 | ||||||