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 |
| 2 |
| 3 |
| 4 |
|
|
| 10 |
| 10 |
| 10 |
| 10 |
|
Cutoff Date |
| 2/29/2004 |
| ||||||
Date Added |
| 4/30/2003 |
| 5/31/2003 |
| 6/30/2003 |
| 7/31/2003 |
|
Pool |
| Pool 1 |
| Pool 2 |
| Pool 3 |
| Pool 4 |
|
Scheduled Cashflows |
| 6,857,684.11 |
| 740,013.14 |
| 935,557.42 |
| 133,956.76 |
|
|
| 22,642,787.60 |
| 1,758,087.28 |
| 2,611,076.65 |
| 510,304.03 |
|
|
| 19,754,796.78 |
| 7,189,433.14 |
| 3,003,953.22 |
| 552,626.38 |
|
|
| 9,312,785.64 |
| 8,746,780.13 |
| 9,151,091.55 |
| 597,067.73 |
|
|
| 9,397,565.92 |
| 1,973,168.05 |
| 11,446,828.91 |
| 2,204,761.67 |
|
|
| 8,567,583.20 |
| 1,999,298.58 |
| 2,911,723.60 |
| 2,189,269.23 |
|
|
| 8,200,429.65 |
| 2,013,967.90 |
| 2,987,844.90 |
| 551,221.71 |
|
|
| 8,850,923.42 |
| 1,995,300.65 |
| 3,004,441.37 |
| 703,666.82 |
|
|
| 7,771,392.71 |
| 2,310,476.28 |
| 2,970,434.18 |
| 553,090.95 |
|
|
| 7,918,416.34 |
| 2,361,452.81 |
| 3,444,684.63 |
| 503,652.11 |
|
|
| 13,527,459.28 |
| 2,402,552.26 |
| 4,126,699.16 |
| 719,558.51 |
|
|
| 14,266,892.65 |
| 2,218,274.89 |
| 3,018,285.27 |
| 656,461.08 |
|
|
| 14,279,559.45 |
| 2,033,670.11 |
| 2,769,896.67 |
| 498,792.82 |
|
|
| 19,552,983.64 |
| 1,973,812.68 |
| 2,948,422.21 |
| 514,147.31 |
|
|
| 15,230,158.56 |
| 7,104,245.56 |
| 3,020,622.71 |
| 538,201.16 |
|
|
| 5,808,314.71 |
| 8,683,493.97 |
| 8,988,838.25 |
| 570,214.06 |
|
|
| 6,080,425.67 |
| 1,811,419.25 |
| 11,250,485.11 |
| 2,206,391.05 |
|
|
| 5,881,486.62 |
| 1,810,697.43 |
| 2,633,993.52 |
| 2,159,993.59 |
|
|
| 5,852,715.64 |
| 1,832,679.90 |
| 2,682,020.47 |
| 507,231.63 |
|
|
| 6,455,627.66 |
| 1,802,296.29 |
| 2,695,956.18 |
| 628,275.01 |
|
|
| 6,110,762.19 |
| 2,104,719.27 |
| 2,654,819.18 |
| 502,762.87 |
|
|
| 6,087,819.87 |
| 2,153,954.14 |
| 3,157,872.83 |
| 456,117.40 |
|
|
| 11,356,667.84 |
| 2,190,106.81 |
| 3,788,883.28 |
| 661,442.42 |
|
|
| 12,268,087.17 |
| 1,998,372.44 |
| 2,713,694.40 |
| 602,244.33 |
|
|
| 12,778,423.96 |
| 1,850,945.43 |
| 2,505,058.54 |
| 447,422.67 |
|
|
| 17,596,833.95 |
| 1,766,632.39 |
| 2,639,488.68 |
| 464,676.95 |
|
|
| 13,107,877.07 |
| 6,784,945.08 |
| 2,715,416.24 |
| 480,657.83 |
|
|
| 3,920,464.01 |
| 8,135,284.64 |
| 8,507,917.49 |
| 513,209.55 |
|
|
| 4,186,409.16 |
| 1,128,822.06 |
| 10,365,073.97 |
| 2,223,934.22 |
|
|
| 3,926,968.04 |
| 1,118,211.03 |
| 1,573,046.74 |
| 2,002,582.66 |
|
|
| 4,031,562.96 |
| 1,124,592.17 |
| 1,647,076.22 |
| 333,774.50 |
|
|
| 4,372,613.22 |
| 1,127,109.76 |
| 1,602,993.33 |
| 440,549.63 |
|
|
| 4,137,641.93 |
| 1,374,410.60 |
| 1,636,063.75 |
| 325,221.42 |
|
|
| 4,269,669.99 |
| 1,379,531.24 |
| 1,988,334.94 |
| 298,018.46 |
|
|
| 8,344,881.29 |
| 1,466,024.05 |
| 2,528,399.14 |
| 473,662.22 |
|
|
| 9,075,383.62 |
| 1,305,729.92 |
| 1,716,584.05 |
| 435,218.34 |
|
|
| 9,976,928.15 |
| 1,172,377.17 |
| 1,539,056.47 |
| 295,190.57 |
|
|
| 13,502,625.17 |
| 1,137,097.39 |
| 1,635,004.07 |
| 304,230.59 |
|
|
| 9,905,218.98 |
| 4,882,707.38 |
| 1,710,571.51 |
| 323,803.72 |
|
|
| 2,711,445.96 |
| 5,726,173.56 |
| 5,732,440.23 |
| 331,474.11 |
|
|
| 2,857,337.64 |
| 837,445.61 |
| 7,018,693.75 |
| 1,495,869.56 |
|
|
| 2,686,166.40 |
| 817,861.55 |
| 1,117,892.80 |
| 1,346,166.60 |
|
|
| 2,738,053.57 |
| 828,525.83 |
| 1,179,928.38 |
| 251,191.19 |
|
|
| 3,080,147.96 |
| 847,737.22 |
| 1,156,924.11 |
| 277,848.01 |
|
|
| 3,055,584.71 |
| 1,048,414.90 |
| 1,259,083.32 |
| 425,340.69 |
|
|
| 3,303,687.59 |
| 1,178,974.74 |
| 1,493,411.41 |
| 211,464.66 |
|
|
| 7,421,799.41 |
| 1,169,087.06 |
| 2,109,634.80 |
| 425,916.45 |
|
|
| 7,019,100.73 |
| 1,009,910.67 |
| 1,249,892.02 |
| 334,396.46 |
|
|
| 7,716,488.52 |
| 908,301.75 |
| 1,130,291.85 |
| 195,467.39 |
|
|
| 10,571,507.90 |
| 866,889.68 |
| 1,132,513.35 |
| 224,635.67 |
|
|
| 6,780,091.90 |
| 4,230,271.39 |
| 1,264,833.75 |
| 273,776.41 |
|
|
| 709,485.01 |
| 4,800,359.25 |
| 5,039,447.14 |
| 267,384.30 |
|
|
| 204,809.24 |
| 108,755.53 |
| 5,798,308.51 |
| 1,339,818.31 |
|
|
| 243,573.15 |
| 106,053.40 |
| 227,026.32 |
| 1,224,084.27 |
|
|
| 230,782.99 |
| 63,353.64 |
| 114,361.06 |
| 9,100.01 |
|
|
| 382,153.25 |
| 66,818.06 |
| 98,730.85 |
| 67,651.36 |
|
|
| 320,830.46 |
| 109,479.51 |
| 105,390.08 |
| 16,971.38 |
|
|
| 352,860.23 |
| 140,221.34 |
| 140,219.82 |
| 6,899.79 |
|
|
| 571,213.28 |
| 86,452.62 |
| 208,595.39 |
| 19,269.96 |
|
|
| 675,911.27 |
| 159,578.58 |
| 112,169.47 |
| 24,469.11 |
|
|
| 722,342.63 |
| 85,903.37 |
| 127,440.17 |
| 6,899.79 |
|
|
| 1,122,442.19 |
| 71,519.83 |
| 98,828.00 |
| 6,899.79 |
|
|
| 738,905.94 |
| 643,031.04 |
| 88,300.18 |
| 24,263.77 |
|
|
| 597.56 |
| 312,048.93 |
| 616,127.88 |
| 6,899.79 |
|
|
| 597.56 |
| 0.00 |
| 208,609.40 |
| 201,350.85 |
|
|
| 1,022.69 |
| 0.00 |
| 0.00 |
| 107,560.35 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
|
|
|
|
|
|
|
|
|
|
Total Amount of Scheduled Cashflow |
| 441,385,767.56 |
| 133,185,862.33 |
| 182,057,304.85 |
| 38,206,673.99 |
|
Discount Rate |
| 5.400 | % | 5.400 | % | 5.400 | % | 5.400 | % |
Beginning Contract Value |
| 422,413,452.81 |
| 123,408,067.33 |
| 167,233,431.13 |
| 35,021,070.32 |
|
Scheduled Contract Value Decline |
| 20,766,338.83 |
| 1,757,791.69 |
| 2,399,590.99 |
| 464,176.06 |
|
Unscheduled Contract Value Decline |
| 214,306.22 |
| 1,212,361.95 |
| 289,818.79 |
| 221,342.18 |
|
Additional Contract Value Added |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
Ending Contract Value |
| 401,432,807.76 |
| 120,437,913.69 |
| 164,544,021.35 |
| 34,335,552.09 |
|
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) |
| 2/15/2004 |
|
|
| |
Dated Date (act/360) |
| 2/17/2004 |
|
|
| |
Scheduled Payment Date |
| 3/15/2004 |
|
|
| |
Actual Payment Date |
| 3/15/2004 |
|
|
| |
Days in accrual period (30/360) |
| 30 |
|
|
| |
Days in accrual period (act/360) |
| 27 |
|
|
| |
1 month LIBOR Rate |
| 1.09375 | % |
|
| |
|
|
|
|
|
| |
Collateral Summary |
|
|
|
|
| |
Wtd. Average Discount Rate |
| 5.400 | % |
|
| |
Beginning Contract Value |
| 748,076,021.60 |
|
|
| |
Scheduled Contract Value Decline |
| 25,387,897.57 |
|
|
| |
Unscheduled Contract Value Decline |
| 1,937,829.14 |
|
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 720,750,294.89 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.00 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.00 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 748,076,021.60 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 720,750,294.89 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 937,371.12 |
| 0.13 | % |
Scheduled Amounts 60 days or more past due |
| $ | 937,706.25 |
| 0.13 | % |
Net Losses on Liquidated Receivables |
| $ | 231,675.67 |
| 0.03 | % |
Cumulative Net Losses |
| $ | 1,303,319.11 |
|
|
|
Number of Loans at Beginning of Period |
| 42,143 |
|
|
| |
Number of Loans at End of Period |
| 41,047 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 476,256.68 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 597,747.42 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 30,204,481.10 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 30,204,481.10 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 36,846.57 |
|
|
|
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 |
| $ | 30,241,327.67 |
|
|
|
|
|
|
|
|
| |
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 |
|
|
|
|
|
|
| 3/15/2004 |
| ||
|
|
|
|
|
|
|
|
|
| ||
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Current Servicing Fee Due |
|
|
|
|
| 1.000 | % | $ | 623,396.68 |
| |
Past Due Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Servicing Fee Due |
|
|
|
|
|
|
| $ | 623,396.68 |
| |
|
|
|
|
|
|
|
|
|
| ||
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) |
|
|
|
|
|
|
| $ | 748,076,021.60 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 235,263,550.89 |
| |
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 |
|
|
|
|
|
|
| $ | 24,312,470.71 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 27,500,000.00 |
| |
|
| Type |
| Coupon/ |
| Swap Adj. |
|
|
| ||
A-1 notes Current Interest Due |
| Fix |
| 1.26250 | % | 1.26250 | % | $ | 0.00 |
| |
A-2 notes Current Interest Due |
| Fix |
| 1.46000 | % | 1.46000 | % | $ | 286,237.32 |
| |
A-3a notes Current Interest Due |
| Flt |
| 0.18000 | % | 1.86300 | % | $ | 143,296.88 |
| |
A-3b notes Current Interest Due |
| Fix |
| 1.89000 | % | 1.89000 | % | $ | 170,100.00 |
| |
A-4a notes Current Interest Due |
| Flt |
| 0.28000 | % | 2.55700 | % | $ | 110,243.44 |
| |
A-4b notes Current Interest Due |
| Fix |
| 2.57000 | % | 2.57000 | % | $ | 205,600.00 |
| |
B notes Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | $ | 63,415.03 |
| |
Certificate Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | $ | 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 |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Total Interest Due |
|
|
|
|
|
|
| $ | 286,237.32 |
| |
A-3a notes Total Interest Due |
|
|
|
|
|
|
| $ | 143,296.88 |
| |
A-3b notes Total Interest Due |
|
|
|
|
|
|
| $ | 170,100.00 |
| |
A-4a notes Total Interest Due |
|
|
|
|
|
|
| $ | 110,243.44 |
| |
A-4b notes Total Interest Due |
|
|
|
|
|
|
| $ | 205,600.00 |
| |
B notes Total Interest Due |
|
|
|
|
|
|
| $ | 63,415.03 |
| |
Certificate Total Interest Due |
|
|
|
|
|
|
| $ | 71,729.17 |
| |
|
|
|
|
|
| 1 Month LIBOR |
|
|
| ||
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 | % | $ | 87,328.13 |
| |
A-3b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
A-4a Net Swap Payment Due |
|
|
|
|
| 2.27700 | % | $ | 115,259.06 |
| |
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 |
|
|
|
|
|
|
| $ | 87,328.13 |
| |
A-3b Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 115,259.06 |
| |
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 |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Principal Due |
|
|
|
|
|
|
| $ | 26,437,640.59 |
| |
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 |
|
|
|
|
|
|
| $ | 888,086.12 |
| |
Certificate Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Total notes Interest Due |
|
|
|
|
|
|
| $ | 978,892.66 |
| |
Total notes Principal Due |
|
|
|
|
|
|
| $ | 27,325,726.71 |
| |
Net Swap/Termination Payment Due |
|
|
|
|
|
|
| $ | 202,587.19 |
| |
Total notes Distributable Amount |
|
|
|
|
|
|
| $ | 28,507,206.56 |
| |
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 |
| 3/15/2004 |
|
|
| ||
|
|
|
|
|
| ||
Cash Available for Distribution |
|
|
|
|
| ||
Total Collections + Reinvestment Income For The Period |
| $ | 30,241,327.67 |
|
|
| |
|
|
|
|
|
| ||
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 |
| $ | 30,241,327.67 |
|
|
| |
|
|
|
|
|
| ||
|
|
|
| Available |
| ||
Cash Allocation (Cashflow Waterfall) |
|
|
|
|
| ||
Servicing Fee Paid |
| $ | 623,396.68 |
|
|
| |
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 29,617,930.99 |
| |
Administration Fee Paid |
| $ | 166.67 |
|
|
| |
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 29,617,764.32 |
| |
Net Swap Payment Paid |
| $ | 202,587.19 |
|
|
| |
Net Swap Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 29,415,177.13 |
| |
|
|
|
|
|
| ||
Cash Available to Pay Note Interest |
| $ | 29,415,177.13 |
|
|
| |
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Class A-1 notes Interest Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Interest Paid |
| $ | 286,237.32 |
|
|
| |
Class A-3a notes Interest Paid |
| $ | 143,296.88 |
|
|
| |
Class A-3b notes Interest Paid |
| $ | 170,100.00 |
|
|
| |
Class A-4a notes Interest Paid |
| $ | 110,243.44 |
|
|
| |
Class A-4b notes Interest Paid |
| $ | 205,600.00 |
|
|
| |
|
|
|
| $ | 28,499,699.50 |
| |
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 |
|
|
| |
|
|
|
| $ | 28,499,699.50 |
| |
Class B notes Interest Paid |
| $ | 63,415.03 |
|
|
| |
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 28,436,284.47 |
| |
Class A-1 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Principal Paid |
| $ | 26,437,640.59 |
|
|
| |
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 |
| $ | 888,086.12 |
|
|
| |
|
|
|
| $ | 1,110,557.76 |
| |
Deposits to Spread Account |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 1,110,557.76 |
| |
Certificate Interest Paid |
| $ | 71,729.17 |
|
|
| |
Certificate Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 1,038,828.60 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 1,038,828.60 |
| |
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 720,750,294.89 |
|
|
| |
A-1 notes Ending Principal balance |
| $ | 0.00 |
|
|
| |
A-2 notes Ending Principal balance |
| $ | 208,825,910.30 |
|
|
| |
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 |
| $ | 23,424,384.59 |
|
|
| |
Certificate Ending Principal balance |
| $ | 27,500,000.00 |
|
|
| |
|
|
|
|
|
| ||
Release to Seller as Excess |
| $ | 1,038,828.60 |
| $ | 1,038,828.60 |
|
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 |
|
|
|
|
| 3/15/2004 |
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Summary and Factors |
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
| $ | 748,076,021.60 |
| 0.7480760 |
| $ | 748.08 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
| $ | 235,263,550.89 |
| 0.9373050 |
| $ | 937.30 |
| |
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 |
|
|
|
|
| $ | 24,312,470.71 |
| 0.7480760 |
| $ | 748.08 |
| |
Certificate Beginning Principal balance |
|
|
|
|
| $ | 27,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
| $ | 720,750,294.89 |
| 0.7207503 |
| $ | 720.75 |
| |
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 |
| $ | 208,825,910.30 |
| 0.8319757 |
| $ | 831.98 |
|
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 |
| $ | 96,000,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
B notes Ending Principal balance |
|
|
| $ | 32,500,000.00 |
| $ | 23,424,384.59 |
| 0.7207503 |
| $ | 720.75 |
|
Certificate Ending Principal balance |
|
|
| $ | 27,500,000.00 |
| $ | 27,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Interest Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-2 notes Interest Paid |
|
|
|
|
| $ | 286,237.32 |
| 0.0011404 |
| $ | 1.14 |
| |
Class A-3a notes Interest Paid |
|
|
|
|
| $ | 143,296.88 |
| 0.0009553 |
| $ | 0.96 |
| |
Class A-3b notes Interest Paid |
|
|
|
|
| $ | 170,100.00 |
| 0.0015750 |
| $ | 1.58 |
| |
Class A-4a notes Interest Paid |
|
|
|
|
| $ | 110,243.44 |
| 0.0010303 |
| $ | 1.03 |
| |
Class A-4b notes Interest Paid |
|
|
|
|
| $ | 205,600.00 |
| 0.0021417 |
| $ | 2.14 |
| |
Class B notes Interest Paid |
|
|
|
|
| $ | 63,415.03 |
| 0.0019512 |
| $ | 1.95 |
| |
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 |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-2 notes Principal Paid |
|
|
|
|
| $ | 26,437,640.59 |
| 0.1053292 |
| $ | 105.33 |
| |
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 |
|
|
|
|
| $ | 888,086.12 |
| 0.0273257 |
| $ | 27.33 |
| |
Certificate Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 0.75000 | % | 5/22/2003 |
| 1.1962 | % |
|
|
|
| |||
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 | % | $ | 18,018,757.37 |
|
|
|
|
| ||
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 |
|
|
|
|
| $ | 1,662,391.95 |
|
|
|
|
| ||
5
