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 |
|
|
| 2 |
| 2 |
| 2 |
| 2 |
|
Cutoff Date |
| 5/31/2004 |
| ||||||
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 |
| 4,852,320.67 |
| 1,744,209.20 |
| 3,251,474.44 |
| 188,849.45 |
|
|
| 8,212,342.60 |
| 1,662,997.11 |
| 9,867,880.58 |
| 2,016,509.62 |
|
|
| 8,212,203.18 |
| 1,880,500.23 |
| 2,800,398.57 |
| 2,101,072.57 |
|
|
| 7,868,412.44 |
| 1,917,655.62 |
| 2,892,254.70 |
| 534,757.06 |
|
|
| 8,386,423.63 |
| 1,922,699.63 |
| 2,918,380.42 |
| 691,152.30 |
|
|
| 7,448,648.50 |
| 2,233,993.78 |
| 2,896,849.91 |
| 539,604.42 |
|
|
| 7,555,737.85 |
| 2,281,961.34 |
| 3,314,069.28 |
| 490,087.15 |
|
|
| 12,859,676.15 |
| 2,324,572.58 |
| 4,028,896.73 |
| 706,357.45 |
|
|
| 13,565,022.73 |
| 2,154,635.25 |
| 2,939,260.42 |
| 643,292.59 |
|
|
| 13,492,511.34 |
| 1,951,567.96 |
| 2,707,375.93 |
| 486,315.25 |
|
|
| 18,214,879.70 |
| 1,890,962.03 |
| 2,883,442.28 |
| 501,208.48 |
|
|
| 14,140,210.40 |
| 6,679,369.86 |
| 2,919,076.50 |
| 525,824.05 |
|
|
| 5,579,602.71 |
| 8,309,530.28 |
| 8,647,144.66 |
| 558,274.37 |
|
|
| 5,880,677.83 |
| 1,755,120.23 |
| 10,816,833.62 |
| 2,114,673.20 |
|
|
| 5,785,577.75 |
| 1,748,280.31 |
| 2,603,497.04 |
| 2,086,490.71 |
|
|
| 5,671,066.01 |
| 1,760,768.67 |
| 2,630,249.67 |
| 497,658.31 |
|
|
| 6,077,173.83 |
| 1,750,347.81 |
| 2,637,500.27 |
| 618,520.55 |
|
|
| 5,878,668.46 |
| 2,043,899.83 |
| 2,604,142.24 |
| 492,912.53 |
|
|
| 5,800,516.24 |
| 2,090,433.28 |
| 3,044,693.96 |
| 446,161.58 |
|
|
| 10,863,041.10 |
| 2,128,000.06 |
| 3,704,450.85 |
| 651,648.61 |
|
|
| 11,670,511.82 |
| 1,948,495.97 |
| 2,651,169.74 |
| 592,071.28 |
|
|
| 12,015,406.96 |
| 1,777,374.76 |
| 2,457,305.74 |
| 437,041.49 |
|
|
| 16,326,020.76 |
| 1,691,321.23 |
| 2,591,386.72 |
| 454,180.85 |
|
|
| 12,201,558.93 |
| 6,429,316.33 |
| 2,631,384.40 |
| 470,188.25 |
|
|
| 3,780,914.89 |
| 7,824,983.08 |
| 8,218,072.60 |
| 503,279.37 |
|
|
| 4,069,985.24 |
| 1,090,984.13 |
| 9,975,945.39 |
| 2,132,544.04 |
|
|
| 3,891,517.58 |
| 1,073,097.82 |
| 1,559,160.54 |
| 1,929,956.16 |
|
|
| 3,926,992.66 |
| 1,069,626.69 |
| 1,612,466.06 |
| 327,328.26 |
|
|
| 4,120,747.50 |
| 1,092,019.25 |
| 1,562,593.87 |
| 434,036.24 |
|
|
| 3,980,015.16 |
| 1,330,682.94 |
| 1,602,432.49 |
| 318,810.35 |
|
|
| 3,982,720.52 |
| 1,338,309.12 |
| 1,897,726.67 |
| 291,607.39 |
|
|
| 7,925,984.09 |
| 1,422,104.32 |
| 2,463,907.82 |
| 467,375.95 |
|
|
| 8,603,943.37 |
| 1,265,813.05 |
| 1,667,997.51 |
| 429,302.17 |
|
|
| 9,303,837.62 |
| 1,111,208.71 |
| 1,504,323.35 |
| 289,076.29 |
|
|
| 12,494,767.48 |
| 1,073,633.79 |
| 1,599,661.07 |
| 298,046.30 |
|
|
| 9,112,435.70 |
| 4,596,107.57 |
| 1,641,923.89 |
| 317,638.56 |
|
|
| 2,588,031.54 |
| 5,483,803.98 |
| 5,519,547.80 |
| 325,279.66 |
|
|
| 2,778,298.16 |
| 810,229.15 |
| 6,716,284.44 |
| 1,407,814.37 |
|
|
| 2,663,307.30 |
| 781,825.23 |
| 1,114,174.48 |
| 1,293,158.83 |
|
|
| 2,640,918.34 |
| 783,277.61 |
| 1,155,203.13 |
| 246,732.92 |
|
|
| 2,914,893.45 |
| 825,653.83 |
| 1,127,790.56 |
| 273,362.78 |
|
|
| 2,907,976.31 |
| 1,017,549.87 |
| 1,219,651.00 |
| 420,855.15 |
|
|
| 3,119,965.38 |
| 1,152,548.76 |
| 1,442,975.38 |
| 206,979.42 |
|
|
| 7,062,676.76 |
| 1,144,529.66 |
| 2,030,808.73 |
| 421,636.47 |
|
|
| 6,607,172.37 |
| 980,389.66 |
| 1,214,908.94 |
| 330,521.11 |
|
|
| 7,195,108.22 |
| 862,124.52 |
| 1,103,121.97 |
| 191,595.39 |
|
|
| 9,675,805.79 |
| 814,266.00 |
| 1,104,724.63 |
| 220,375.75 |
|
|
| 6,194,640.96 |
| 3,992,317.04 |
| 1,190,439.69 |
| 268,616.62 |
|
|
| 665,001.46 |
| 4,594,923.17 |
| 4,847,506.26 |
| 262,621.80 |
|
|
| 203,491.52 |
| 110,068.82 |
| 5,517,760.83 |
| 1,259,161.46 |
|
|
| 263,452.27 |
| 106,750.77 |
| 167,185.90 |
| 1,199,559.60 |
|
|
| 224,261.87 |
| 62,587.35 |
| 114,712.75 |
| 9,056.93 |
|
|
| 374,308.12 |
| 66,051.77 |
| 98,481.22 |
| 67,651.39 |
|
|
| 300,735.40 |
| 108,870.69 |
| 105,097.68 |
| 16,971.38 |
|
|
| 342,040.82 |
| 139,693.88 |
| 128,440.61 |
| 6,899.79 |
|
|
| 556,698.09 |
| 85,860.66 |
| 190,447.85 |
| 19,269.96 |
|
|
| 630,627.75 |
| 159,037.99 |
| 111,383.06 |
| 24,469.11 |
|
|
| 695,594.77 |
| 85,367.22 |
| 126,165.74 |
| 6,868.80 |
|
|
| 1,042,939.83 |
| 70,900.12 |
| 98,677.13 |
| 6,659.26 |
|
|
| 729,293.71 |
| 630,807.29 |
| 87,761.29 |
| 24,025.98 |
|
|
| 597.56 |
| 284,304.38 |
| 586,274.81 |
| 6,659.26 |
|
|
| 597.56 |
| 668.95 |
| 174,872.21 |
| 198,868.11 |
|
|
| 1,024.39 |
| 1,167.34 |
| 0.00 |
| 91,564.25 |
|
|
| 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 |
|
|
| 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 |
| 366,131,533.10 |
| 111,522,159.53 |
| 163,039,728.02 |
| 35,391,088.75 |
|
Discount Rate |
| 5.400 | % | 5.400 | % | 5.400 | % | 5.400 | % |
Beginning Contract Value |
| 345,345,736.24 |
| 109,229,741.02 |
| 156,153,201.36 |
| 32,673,297.43 |
|
Scheduled Contract Value Decline |
| 11,885,689.05 |
| 8,500,555.43 |
| 8,375,113.52 |
| 474,879.14 |
|
Unscheduled Contract Value Decline |
| 228,521.48 |
| (84,130.24 | ) | (461,052.03 | ) | 116,634.97 |
|
Additional Contract Value Added |
| 0.00 |
| 0.00 |
| 0.00 |
| 0.00 |
|
Ending Contract Value |
| 333,231,525.71 |
| 100,813,315.84 |
| 148,239,139.87 |
| 32,081,783.32 |
|
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) |
| 5/15/2004 |
|
|
| |
Dated Date (act/360) |
| 5/17/2004 |
|
|
| |
Scheduled Payment Date |
| 6/15/2004 |
|
|
| |
Actual Payment Date |
| 6/15/2004 |
|
|
| |
Days in accrual period (30/360) |
| 30 |
|
|
| |
Days in accrual period (act/360) |
| 29 |
|
|
| |
1 month LIBOR Rate |
| 1.10000 | % |
|
| |
|
|
|
|
|
| |
Collateral Summary |
|
|
|
|
| |
Wtd. Average Discount Rate |
| 5.400 | % |
|
| |
Beginning Contract Value |
| 643,401,976.05 |
|
|
| |
Scheduled Contract Value Decline |
| 29,236,237.15 |
|
|
| |
Unscheduled Contract Value Decline |
| (200,025.83 | ) |
|
| |
Additional Contract Value Purchased |
| 0.00 |
|
|
| |
Ending Contract Value |
| 614,365,764.73 |
|
|
| |
|
|
|
|
|
| |
Beginning Pre-funding Account Balance |
| 0.00 |
|
|
| |
Ending Pre-funding Account Balance |
| 0.00 |
|
|
| |
|
|
|
|
|
| |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) |
| 643,401,976.05 |
|
|
| |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) |
| 614,365,764.73 |
|
|
| |
|
|
|
|
|
| |
Collateral Performance |
|
|
|
|
| |
Scheduled Amounts 30 - 59 days past due |
| $ | 1,204,013.83 |
| 0.20 | % |
Scheduled Amounts 60 days or more past due |
| $ | 1,313,430.82 |
| 0.21 | % |
Net Losses on Liquidated Receivables |
| $ | 117,476.05 |
| 0.02 | % |
Cumulative Net Losses |
| $ | 1,898,459.51 |
|
|
|
Number of Loans at Beginning of Period |
| 38,306 |
|
|
| |
Number of Loans at End of Period |
| 37,226 |
|
|
| |
Repossessed Equipment not Sold or Reassigned (Beginning) |
| $ | 874,845.66 |
|
|
|
Repossessed Equipment not Sold or Reassigned (End) |
| $ | 801,651.93 |
|
|
|
|
|
|
|
|
| |
Collections and Reinvestment Income |
|
|
|
|
| |
Receipts During the period |
| $ | 31,820,263.54 |
|
|
|
|
|
|
|
|
| |
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 |
| $ | 31,820,263.54 |
|
|
|
|
|
|
|
|
| |
Reinvestment Income (excluding Pre-funding Account) |
| $ | 40,833.54 |
|
|
|
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 |
| $ | 31,861,097.08 |
|
|
|
|
|
|
|
|
| |
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 |
|
|
|
|
|
|
| 6/15/2004 |
|
Caclulation of Distributable Amounts |
|
|
|
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
| ||
Current Servicing Fee Due |
|
|
|
|
| 1.000 | % | $ | 536,168.31 |
| |
Past Due Servicing Fee |
|
|
|
|
|
|
| $ | 0.00 |
| |
Total Servicing Fee Due |
|
|
|
|
|
|
| $ | 536,168.31 |
| |
|
|
|
|
|
|
|
|
|
| ||
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) |
|
|
|
|
|
|
| $ | 1,285,492,320.05 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
|
|
| $ | 98,616,867.96 |
| |
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 |
|
|
|
|
|
|
| $ | 698,375,452.09 |
| |
Certificate Beginning Principal balance |
|
|
|
|
|
|
| $ | 27,500,000.00 |
| |
|
|
|
| Coupon/ |
| Swap Adj. |
|
|
| ||
|
| Type |
| Spread |
| Coupon |
|
|
| ||
A-1 notes Current Interest Due |
| Fix |
| 1.26250 | % | 1.26250 | % | $ | 0.00 |
| |
A-2 notes Current Interest Due |
| Fix |
| 1.46000 | % | 1.46000 | % | $ | 115,984.39 |
| |
A-3a notes Current Interest Due |
| Flt |
| 0.18000 | % | 1.86300 | % | $ | 154,666.67 |
| |
A-3b notes Current Interest Due |
| Fix |
| 1.89000 | % | 1.89000 | % | $ | 164,430.00 |
| |
A-4a notes Current Interest Due |
| Flt |
| 0.28000 | % | 2.55700 | % | $ | 118,948.33 |
| |
A-4b notes Current Interest Due |
| Fix |
| 2.57000 | % | 2.57000 | % | $ | 198,746.67 |
| |
B notes Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | $ | 1,760,876.11 |
| |
Certificate Current Interest Due |
| Fix |
| 3.13000 | % | 3.13000 | % | $ | 69,338.19 |
| |
|
|
|
|
|
|
|
|
|
| ||
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 |
|
|
|
|
|
|
| $ | 814,115.94 |
| |
|
|
|
|
|
|
|
|
|
| ||
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 |
|
|
|
|
|
|
| $ | 2,052.70 |
| |
|
|
|
|
|
|
|
|
|
| ||
A-1 notes Total Interest Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-2 notes Total Interest Due |
|
|
|
|
|
|
| $ | 115,984.39 |
| |
A-3a notes Total Interest Due |
|
|
|
|
|
|
| $ | 154,666.67 |
| |
A-3b notes Total Interest Due |
|
|
|
|
|
|
| $ | 164,430.00 |
| |
A-4a notes Total Interest Due |
|
|
|
|
|
|
| $ | 118,948.33 |
| |
A-4b notes Total Interest Due |
|
|
|
|
|
|
| $ | 198,746.67 |
| |
B notes Total Interest Due |
|
|
|
|
|
|
| $ | 1,760,876.11 |
| |
Certificate Total Interest Due |
|
|
|
|
|
|
| $ | 885,506.84 |
| |
|
|
|
|
|
| 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 | % | $ | 77,458.33 |
| |
A-3b Net Swap Payment Due |
|
|
|
|
| 0.00000 | % | $ | 0.00 |
| |
A-4a Net Swap Payment Due |
|
|
|
|
| 2.27700 | % | $ | 108,218.61 |
| |
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 |
|
|
|
|
|
|
| $ | 77,458.33 |
| |
A-3b Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
A-4a Total Net Swap Payment Due |
|
|
|
|
|
|
| $ | 108,218.61 |
| |
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 |
|
|
|
|
|
|
| $ | 98,616,867.96 |
| |
A-3a notes Principal Due |
|
|
|
|
|
|
| $ | 62,790,697.67 |
| |
A-3b notes Principal Due |
|
|
|
|
|
|
| $ | 45,209,302.33 |
| |
A-4a notes Principal Due |
|
|
|
|
|
|
| $ | 50,600,985.22 |
| |
A-4b notes Principal Due |
|
|
|
|
|
|
| $ | 45,399,014.78 |
| |
Class B notes Principal Due |
|
|
|
|
|
|
| $ | 368,509,687.35 |
| |
Certificate Principal Due |
|
|
|
|
|
|
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
| ||
Total notes Interest Due |
|
|
|
|
|
|
| $ | 2,513,652.17 |
| |
Total notes Principal Due |
|
|
|
|
|
|
| $ | 671,126,555.31 |
| |
Net Swap/Termination Payment Due |
|
|
|
|
|
|
| $ | 185,676.94 |
| |
Total notes Distributable Amount |
|
|
|
|
|
|
| $ | 673,825,884.42 |
| |
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 |
| 6/15/2004 |
|
|
|
Cash Available for Distribution |
|
|
|
|
| ||
Total Collections + Reinvestment Income For The Period |
| $ | 31,861,097.08 |
|
|
| |
|
|
|
|
|
| ||
Beginning Negitive Carry Account |
| $ | 0.00 |
|
|
| |
Deposits from Negitive Carry Account to Distribution Account |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Beginning Spread Account Balance |
| $ | 0.00 |
|
|
| |
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 |
| $ | 31,861,097.08 |
|
|
| |
|
|
|
|
|
| ||
|
|
|
| Available |
| ||
|
|
|
| Cash |
| ||
Cash Allocation (Cashflow Waterfall) |
|
|
|
|
| ||
Servicing Fee Paid |
| $ | 536,168.31 |
|
|
| |
Servicing Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 31,324,928.77 |
| |
Administration Fee Paid |
| $ | 166.67 |
|
|
| |
Administration Fee Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 31,324,762.10 |
| |
Net Swap Payment Paid |
| $ | 185,676.94 |
|
|
| |
Net Swap Payment Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
|
|
| $ | 31,139,085.16 |
| |
|
|
|
|
|
| ||
Cash Available to Pay Note Interest |
| $ | 31,139,085.16 |
|
|
| |
Cash Available to Pay Termination Payment |
| $ | 0.00 |
|
|
| |
|
|
|
|
|
| ||
Class A-1 notes Interest Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Interest Paid |
| $ | 115,984.39 |
|
|
| |
Class A-3a notes Interest Paid |
| $ | 154,666.67 |
|
|
| |
Class A-3b notes Interest Paid |
| $ | 164,430.00 |
|
|
| |
Class A-4a notes Interest Paid |
| $ | 118,948.33 |
|
|
| |
Class A-4b notes Interest Paid |
| $ | 198,746.67 |
|
|
| |
|
|
|
| $ | 30,386,309.09 |
| |
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 |
|
|
| |
|
|
|
| $ | 30,386,309.09 |
| |
Class B notes Interest Paid |
| $ | 1,760,876.11 |
|
|
| |
Class B notes Interest Shortfall |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 28,625,432.99 |
| |
Class A-1 notes Principal Paid |
| $ | 0.00 |
|
|
| |
Class A-2 notes Principal Paid |
| $ | 28,625,432.99 |
|
|
| |
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 |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 0.00 |
| |
Deposits to Spread Account |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 0.00 |
| |
Certificate Interest Paid |
| $ | 0.00 |
|
|
| |
Certificate Interest Shortfall |
| $ | 885,506.84 |
|
|
| |
|
|
|
| $ | 0.00 |
| |
Certificate Principal Paid |
| $ | 0.00 |
|
|
| |
|
|
|
| $ | 0.00 |
| |
Total Principal Balance of Notes and Certificates (End of Period) |
| $ | 1,256,866,887.06 |
|
|
| |
A-1 notes Ending Principal balance |
| $ | 0.00 |
|
|
| |
A-2 notes Ending Principal balance |
| $ | 69,991,434.97 |
|
|
| |
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 |
| $ | 698,375,452.09 |
|
|
| |
Certificate Ending Principal balance |
| $ | 27,500,000.00 |
|
|
| |
|
|
|
|
|
| ||
Release to Seller as Excess |
| $ | 0.00 |
| $ | 0.00 |
|
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 |
|
|
|
|
| 6/15/2004 |
|
|
|
|
|
|
|
|
|
|
| Amount |
| Factor |
| Per/$1000 |
| |||
Summary and Factors |
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (Beginning of Period) |
|
|
|
|
| $ | 1,285,492,320.05 |
| 1.2854923 |
| $ | 1,285.49 |
| |
A-1 notes Beginning Principal balance |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
A-2 notes Beginning Principal balance |
|
|
|
|
| $ | 98,616,867.96 |
| 0.3928959 |
| $ | 392.90 |
| |
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 |
|
|
|
|
| $ | 698,375,452.09 |
| 21.4884754 |
| $ | 21,488.48 |
| |
Certificate Beginning Principal balance |
|
|
|
|
| $ | 27,500,000.00 |
| 1.0000000 |
| $ | 1,000.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Principal Balance of Notes and Certificates (End of Period) |
|
|
|
|
| $ | 1,256,866,887.06 |
| 1.2568669 |
| $ | 1,256.87 |
| |
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 |
| $ | 69,991,434.97 |
| 0.2788503 |
| $ | 278.85 |
|
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 |
| $ | 698,375,452.09 |
| 21.4884754 |
| $ | 21,488.48 |
|
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 |
|
|
|
|
| $ | 115,984.39 |
| 0.0004621 |
| $ | 0.46 |
| |
Class A-3a notes Interest Paid |
|
|
|
|
| $ | 154,666.67 |
| 0.0010311 |
| $ | 1.03 |
| |
Class A-3b notes Interest Paid |
|
|
|
|
| $ | 164,430.00 |
| 0.0015225 |
| $ | 1.52 |
| |
Class A-4a notes Interest Paid |
|
|
|
|
| $ | 118,948.33 |
| 0.0011117 |
| $ | 1.11 |
| |
Class A-4b notes Interest Paid |
|
|
|
|
| $ | 198,746.67 |
| 0.0020703 |
| $ | 2.07 |
| |
Class B notes Interest Paid |
|
|
|
|
| $ | 1,760,876.11 |
| 0.0541808 |
| $ | 54.18 |
| |
Certificate Interest Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
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 |
|
|
|
|
| $ | 885,506.84 |
| 0.0322002 |
| $ | 32.20 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Class A-1 notes Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Class A-2 notes Principal Paid |
|
|
|
|
| $ | 28,625,432.99 |
| 0.1140455 |
| $ | 114.05 |
| |
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 |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
Certificate Principal Paid |
|
|
|
|
| $ | 0.00 |
| 0.0000000 |
| $ | 0.00 |
| |
|
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry Account |
|
|
|
|
|
|
|
|
|
|
| |||
Negitive Carry |
| 0.75000 | % | 5/22/2003 |
| 1.8856 | % |
|
|
|
| |||
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 | % | $ | 15,359,144.12 |
|
|
|
|
| ||
Required Spread Account Floor |
|
|
| 2.00 | % | $ | 20,000,000.01 |
|
|
|
|
| ||
Required Spread Account |
|
|
|
|
| $ | 20,000,000.01 |
|
|
|
|
| ||
Beginning Spread Account Balance |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
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 |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
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 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Backup Servicer Account |
|
|
|
|
|
|
|
|
|
|
| |||
Backup Servicer Account Initial Deposit |
|
|
|
|
| $ | 500,000.00 |
|
|
|
|
| ||
Backup Servicer Account Beginning Balance |
|
|
|
|
| $ | 464,534.11 |
|
|
|
|
| ||
Monthly Backup Servicing Fee (2bps/12*beginning balance or $4000 floor) |
|
|
|
|
| $ | 10,723.37 |
|
|
|
|
| ||
Accrued Backup Servicing Fee |
|
|
|
|
| $ | 0.00 |
|
|
|
|
| ||
Total Backup Servicing Fee Due |
|
|
|
|
| $ | 10,723.37 |
|
|
|
|
| ||
Backup Servicing Fee Paid |
|
|
|
|
| $ | 10,723.37 |
|
|
|
|
| ||
Backup Servicer Investment Earnings |
|
|
|
|
| $ | 371.90 |
|
|
|
|
| ||
Ending Backup Servicing Account Balance |
|
|
|
|
| $ | 454,182.64 |
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||
Total Release to Seller |
|
|
|
|
| $ | 536,334.98 |
|
|
|
|
| ||
5
