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 Jeske 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 | |
| | | | 8 | | 8 | | 8 | | 8 | |
Cutoff Date | | | | 11/30/2004 | |
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 | | | | 2,949,125.56 | | 846,631.62 | | 1,129,140.13 | | 228,121.44 | |
| | | | 10,680,491.31 | | 1,823,791.77 | | 3,234,537.27 | | 556,329.50 | |
| | | | 12,542,758.08 | | 1,962,574.79 | | 2,668,500.41 | | 591,800.83 | |
| | | | 12,606,099.05 | | 1,812,652.14 | | 2,541,967.32 | | 449,124.30 | |
| | | | 17,046,230.09 | | 1,759,539.65 | | 2,690,969.89 | | 456,260.32 | |
| | | | 13,264,598.64 | | 6,194,108.65 | | 2,755,783.36 | | 490,871.67 | |
| | | | 5,240,722.23 | | 7,920,683.01 | | 8,123,673.88 | | 524,475.83 | |
| | | | 5,518,905.03 | | 1,659,678.51 | | 10,152,771.49 | | 1,989,546.98 | |
| | | | 5,456,549.88 | | 1,653,422.81 | | 2,496,197.22 | | 1,909,247.51 | |
| | | | 5,337,657.53 | | 1,666,945.58 | | 2,529,159.32 | | 458,711.38 | |
| | | | 5,719,695.05 | | 1,653,807.14 | | 2,482,097.77 | | 543,544.21 | |
| | | | 5,519,090.06 | | 1,953,068.34 | | 2,485,004.05 | | 463,201.35 | |
| | | | 5,452,092.63 | | 1,998,071.37 | | 2,902,351.30 | | 425,090.33 | |
| | | | 10,138,299.92 | | 2,044,047.68 | | 3,573,430.86 | | 613,596.97 | |
| | | | 11,077,909.10 | | 1,841,263.31 | | 2,507,927.24 | | 554,676.01 | |
| | | | 11,389,151.39 | | 1,692,314.42 | | 2,350,730.46 | | 408,798.44 | |
| | | | 15,451,682.77 | | 1,607,489.81 | | 2,453,751.02 | | 415,944.00 | |
| | | | 11,459,481.62 | | 5,995,210.89 | | 2,517,756.83 | | 441,806.39 | |
| | | | 3,584,190.95 | | 7,504,773.61 | | 7,743,292.99 | | 475,663.58 | |
| | | | 3,845,745.10 | | 1,037,799.42 | | 9,399,929.58 | | 2,034,394.85 | |
| | | | 3,688,140.12 | | 1,019,995.12 | | 1,496,796.34 | | 1,727,532.72 | |
| | | | 3,680,564.88 | | 1,014,996.92 | | 1,571,327.83 | | 298,775.54 | |
| | | | 3,905,767.14 | | 1,033,983.55 | | 1,503,930.00 | | 383,182.62 | |
| | | | 3,742,941.15 | | 1,278,487.93 | | 1,536,472.42 | | 297,581.51 | |
| | | | 3,718,047.60 | | 1,280,632.01 | | 1,793,215.42 | | 278,463.20 | |
| | | | 7,409,814.63 | | 1,372,015.33 | | 2,423,715.12 | | 432,262.15 | |
| | | | 8,193,049.69 | | 1,193,286.38 | | 1,564,926.97 | | 400,059.06 | |
| | | | 8,797,941.32 | | 1,057,449.70 | | 1,437,759.33 | | 268,700.89 | |
| | | | 11,766,347.44 | | 1,020,303.13 | | 1,500,486.11 | | 268,688.33 | |
| | | | 8,517,300.21 | | 4,260,599.23 | | 1,573,761.74 | | 296,138.24 | |
| | | | 2,461,351.57 | | 5,215,373.31 | | 5,120,748.44 | | 304,254.70 | |
| | | | 2,646,432.27 | | 774,067.37 | | 6,289,103.72 | | 1,352,080.83 | |
| | | | 2,524,906.35 | | 741,213.13 | | 1,064,433.20 | | 1,107,313.70 | |
| | | | 2,491,830.08 | | 741,100.68 | | 1,110,294.68 | | 221,103.52 | |
| | | | 2,755,938.83 | | 779,127.85 | | 1,083,889.34 | | 260,478.03 | |
| | | | 2,690,093.43 | | 974,558.27 | | 1,165,147.04 | | 406,119.02 | |
| | | | 2,971,668.36 | | 1,107,157.41 | | 1,334,353.35 | | 200,314.67 | |
| | | | 6,503,235.95 | | 1,102,727.63 | | 1,935,082.33 | | 395,469.68 | |
| | | | 6,285,762.53 | | 940,667.01 | | 1,125,453.93 | | 310,469.73 | |
| | | | 6,796,048.77 | | 820,014.37 | | 1,003,766.27 | | 176,054.59 | |
| | | | 9,088,504.99 | | 769,292.61 | | 1,030,327.15 | | 193,676.51 | |
| | | | 5,805,208.67 | | 3,646,456.93 | | 1,127,603.72 | | 253,349.07 | |
| | | | 325,327.22 | | 4,402,103.76 | | 4,432,645.84 | | 250,716.78 | |
| | | | 197,254.74 | | 110,655.81 | | 5,222,623.38 | | 1,215,426.57 | |
| | | | 257,053.15 | | 107,494.68 | | 187,290.46 | | 1,022,765.99 | |
| | | | 221,764.71 | | 58,810.32 | | 111,527.78 | | 8,304.33 | |
| | | | 354,725.24 | | 62,280.54 | | 94,718.96 | | 67,188.81 | |
| | | | 263,859.99 | | 105,093.13 | | 97,312.60 | | 16,225.70 | |
| | | | 332,754.18 | | 144,028.86 | | 112,411.75 | | 12,449.64 | |
| | | | 496,085.13 | | 80,330.50 | | 208,482.88 | | 18,491.69 | |
| | | | 618,511.19 | | 155,443.77 | | 103,120.26 | | 23,690.84 | |
| | | | 685,550.68 | | 81,787.37 | | 118,191.59 | | 6,121.52 | |
| | | | 986,310.25 | | 67,321.28 | | 56,612.98 | | 6,121.52 | |
| | | | 466,924.68 | | 620,221.42 | | 79,249.97 | | 23,484.65 | |
| | | | 597.56 | | 261,519.91 | | 539,068.08 | | 6,121.52 | |
| | | | 597.56 | | 668.95 | | 165,093.79 | | 197,922.58 | |
| | | | 597.56 | | 1,123.01 | | 324.91 | | 85,045.08 | |
| | | | 597.56 | | 0.00 | | 0.00 | | 0.00 | |
| | | | 597.56 | | 0.00 | | 5,262.58 | | 0.00 | |
| | | | 597.56 | | 0.00 | | 0.00 | | 0.00 | |
| | | | 1,510.18 | | 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 | | 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 | | | | 295,932,588.67 | | 93,030,263.70 | | 128,065,504.65 | | 26,823,351.42 | |
Discount Rate | | | | 5.400 | % | 5.400 | % | 5.400 | % | 5.400 | % |
Beginning Contract Value | | | | 282,703,609.43 | | 88,052,219.42 | | 121,170,442.66 | | 25,004,303.95 | |
Scheduled Contract Value Decline | | | | 8,154,314.65 | | 2,402,393.65 | | 3,266,840.61 | | 475,165.54 | |
Unscheduled Contract Value Decline | | | | 1,573,180.81 | | 320,402.04 | | 392,521.12 | | 54,667.53 | |
Additional Contract Value Added | | | | 0.00 | | 0.00 | | 0.00 | | 0.00 | |
Ending Contract Value | | | | 272,976,113.97 | | 85,329,423.72 | | 117,511,080.94 | | 24,474,470.88 | |
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) | | 11/15/2004 | | | |
Dated Date (act/360) | | 11/15/2004 | | | |
Scheduled Payment Date | | 12/15/2004 | | | |
Actual Payment Date | | 12/15/2004 | | | |
Days in accrual period (30/360) | | 30 | | | |
Days in accrual period (act/360) | | 30 | | | |
1 month LIBOR Rate | | 2.10000 | % | | |
| | | | | |
Collateral Summary | | | | | |
Wtd. Average Discount Rate | | 5.400 | % | | |
Beginning Contract Value | | 516,930,575.46 | | | |
Scheduled Contract Value Decline | | 14,298,714.46 | | | |
Unscheduled Contract Value Decline | | 2,340,771.50 | | | |
Additional Contract Value Purchased | | 0.00 | | | |
Ending Contract Value | | 500,291,089.51 | | | |
| | | | | |
Beginning Pre-funding Account Balance | | 0.00 | | | |
Ending Pre-funding Account Balance | | 0.00 | | | |
| | | | | |
Total Beginning Balance (Pool Balance + Pre-funding Account Balance) | | 516,930,575.46 | | | |
Total Ending Balance (Pool Balance + Pre-funding Account Balance) | | 500,291,089.51 | | | |
| | | | | |
Collateral Performance | | | | | |
Scheduled Amounts 30 - 59 days past due | | $ | 461,123.16 | | 0.09 | % |
Scheduled Amounts 60 days or more past due | | $ | 1,378,033.16 | | 0.28 | % |
Net Losses on Liquidated Receivables | | $ | 208,797.46 | | 0.04 | % |
Cumulative Net Losses | | $ | 2,629,080.46 | | | |
Number of Loans at Beginning of Period | | 33,211 | | | |
Number of Loans at End of Period | | 32,689 | | | |
Repossessed Equipment not Sold or Reassigned (Beginning) | | $ | 669,452.70 | | | |
Repossessed Equipment not Sold or Reassigned (End) | | $ | 632,367.09 | | | |
| | | | | |
Collections and Reinvestment Income | | | | | |
Receipts During the period | | $ | 18,809,544.23 | | | |
| | | | | |
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 | | $ | 18,809,544.23 | | | |
| | | | | |
Reinvestment Income (excluding Pre-funding Account) | | $ | 50,119.81 | | | |
Reinvestment Income on Pre-funding Account) | | $ | 0.00 | | | |
| | | | | |
Net Swap Receipts | | 52,125.00 | | | |
Net Swap Termination Payments due Trust from the Swap CounterParty | | $ | 0.00 | | | |
| | | | | |
Total Collections + Reinvestment Income For The Period + Swap Receipt | | $ | 18,911,789.04 | | | |
| | | | | |
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 | | | | | | | | | | 12/15/2004 | |
Caclulation of Distributable Amounts | | | | | | | | | | | |
| | | | | | | | | | | |
Current Servicing Fee Due | | | | | | | | 1.000 | % | $ | 430,775.48 | |
Past Due Servicing Fee | | | | | | | | | | $ | 0.00 | |
Total Servicing Fee Due | | | | | | | | | | $ | 430,775.48 | |
| | | | | | | | | | | |
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) | | | | | | | | | | $ | 516,930,575.46 | |
A-1 notes Beginning Principal balance | | | | | | | | | | $ | 0.00 | |
A-2 notes Beginning Principal balance | | | | | | | | | | $ | 11,630,331.76 | |
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 | | | | | | | | | | $ | 16,800,243.70 | |
Certificate Beginning Principal balance | | | | | | | | | | $ | 27,500,000.00 | |
| | | | Type | | Coupon/ Spread | | Swap Adj. 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 | % | $ | 14,150.24 | |
A-3a notes Current Interest Due | | | | Flt | | 0.18000 | % | 1.86300 | % | $ | 285,000.00 | |
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 | % | $ | 212,216.67 | |
A-4b notes Current Interest Due | | | | Fix | | 2.57000 | % | 2.57000 | % | $ | 205,600.00 | |
B notes Current Interest Due | | | | Fix | | 3.13000 | % | 3.13000 | % | $ | 43,820.64 | |
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 | | | | | | | | | | $ | 14,150.24 | |
A-3a notes Total Interest Due | | | | | | | | | | $ | 285,000.00 | |
A-3b notes Total Interest Due | | | | | | | | | | $ | 170,100.00 | |
A-4a notes Total Interest Due | | | | | | | | | | $ | 212,216.67 | |
A-4b notes Total Interest Due | | | | | | | | | | $ | 205,600.00 | |
B notes Total Interest Due | | | | | | | | | | $ | 43,820.64 | |
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 | % | $ | 0.00 | |
A-3b Net Swap Payment Due | | | | | | | | 0.00000 | % | $ | 0.00 | |
A-4a Net Swap Payment Due | | | | | | | | 2.27700 | % | $ | 15,782.50 | |
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 | | | | | | | | | | $ | 0.00 | |
A-3b Total Net Swap Payment Due | | | | | | | | | | $ | 0.00 | |
A-4a Total Net Swap Payment Due | | | | | | | | | | $ | 15,782.50 | |
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 | | | | | | | | | | $ | 52,125.00 | |
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 | | | | | | | | | | $ | 11,630,331.76 | |
A-3a notes Principal Due | | | | | | | | | | $ | 2,597,890.06 | |
A-3b notes Principal Due | | | | | | | | | | $ | 1,870,480.84 | |
A-4a notes Principal Due | | | | | | | | | | $ | 0.00 | |
A-4b notes Principal Due | | | | | | | | | | $ | 0.00 | |
Class B notes Principal Due | | | | | | | | | | $ | 540,783.29 | |
Certificate Principal Due | | | | | | | | | | $ | 0.00 | |
| | | | | | | | | | | |
Total notes Interest Due | | | | | | | | | | $ | 930,887.54 | |
Total notes Principal Due | | | | | | | | | | $ | 16,639,485.95 | |
Net Swap/Termination Payment Due | | | | | | | | | | $ | 36,342.50 | |
Total notes Distributable Amount | | | | | | | | | | $ | 17,534,030.99 | |
| | | | | | | | | | | | | |
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 | | 12/15/2004 | | | |
| | | | | |
Cash Available for Distribution | | | | | |
Total Collections + Reinvestment Income For The Period + Net SWAP receipts | | $ | 18,911,789.04 | | | |
| | | | | |
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 | | $ | 18,911,789.04 | | | |
| | | | | |
| | | | Available Cash | |
Cash Allocation (Cashflow Waterfall) | | | | | |
Servicing Fee Paid | | $ | 430,775.48 | | | |
Servicing Fee Shortfall | | $ | 0.00 | | | |
| | | | $ | 18,481,013.56 | |
Administration Fee Paid | | $ | 166.67 | | | |
Administration Fee Shortfall | | $ | 0.00 | | | |
| | | | $ | 18,480,846.89 | |
Swap Payment Paid | | $ | 15,782.50 | | | |
Swap Payment Shortfall | | $ | 0.00 | | | |
| | | | | |
Remaining Cash Available to Pay Note Interest & Swap Termination Payment | | | | $ | 18,465,064.39 | |
| | | | | |
Cash Available to Pay Note Interest | | $ | 18,465,064.39 | | | |
Cash Available to Pay Termination Payment | | $ | 0.00 | | | |
| | | | | |
Class A-1 notes Interest Paid | | $ | 0.00 | | | |
Class A-2 notes Interest Paid | | $ | 14,150.24 | | | |
Class A-3a notes Interest Paid | | $ | 285,000.00 | | | |
Class A-3b notes Interest Paid | | $ | 170,100.00 | | | |
Class A-4a notes Interest Paid | | $ | 212,216.67 | | | |
Class A-4b notes Interest Paid | | $ | 205,600.00 | | $ | 17,577,997.49 | |
| | | | | |
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 | | | |
| | | | $ | 17,577,997.49 | |
Class B notes Interest Paid | | $ | 43,820.64 | | | |
Class B notes Interest Shortfall | | $ | 0.00 | | | |
| | | | $ | 17,534,176.85 | |
Class A-1 notes Principal Paid | | $ | 0.00 | | | |
Class A-2 notes Principal Paid | | $ | 11,630,331.76 | | | |
Class A-3a notes Principal Paid | | $ | 2,597,890.06 | | | |
Class A-3b notes Principal Paid | | $ | 1,870,480.84 | | | |
Class A-4a notes Principal Paid | | $ | 0.00 | | | |
Class A-4b notes Principal Paid | | $ | 0.00 | | | |
Class B notes Principal Paid | | $ | 540,783.29 | | | |
| | | | $ | 894,690.90 | |
Deposits to Spread Account | | $ | 0.00 | | | |
| | | | $ | 894,690.90 | |
Certificate Interest Paid | | $ | 71,729.17 | | | |
Certificate Interest Shortfall | | $ | 0.00 | | | |
| | | | $ | 822,961.73 | |
Certificate Principal Paid | | $ | 0.00 | | | |
| | | | $ | 822,961.73 | |
Total Principal Balance of Notes and Certificates (End of Period) | | $ | 500,291,089.51 | | | |
A-1 notes Ending Principal balance | | $ | 0.00 | | | |
A-2 notes Ending Principal balance | | $ | 0.00 | | | |
A-3a notes Ending Principal balance | | $ | 147,402,109.94 | | | |
A-3b notes Ending Principal balance | | $ | 106,129,519.16 | | | |
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 | | $ | 16,259,460.41 | | | |
Certificate Ending Principal balance | | $ | 27,500,000.00 | | | |
| | | | | |
Release to Seller as Excess | | $ | 822,961.73 | | $ | 822,961.73 | |
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 | | | | | | | | 12/15/2004 | | | | | |
| | | | | | | | Amount | | Factor | | Per/$1000 | |
Summary and Factors | | | | | | | | | | | | | |
Total Principal Balance of Notes and Certificates (Beginning of Period) | | | | | | | | $ | 516,930,575.46 | | 0.5169306 | | $ | 516.93 | |
A-1 notes Beginning Principal balance | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
A-2 notes Beginning Principal balance | | | | | | | | $ | 11,630,331.76 | | 0.0463360 | | $ | 46.34 | |
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 | | | | | | | | $ | 16,800,243.70 | | 0.5169306 | | $ | 516.93 | |
Certificate Beginning Principal balance | | | | | | | | $ | 27,500,000.00 | | 1.0000000 | | $ | 1,000.00 | |
| | | | | | | | | | | | | |
Total Principal Balance of Notes and Certificates (End of Period) | | | | | | | | $ | 500,291,089.51 | | 0.5002911 | | $ | 500.29 | |
A-1 notes Ending Principal balance | | | | | | $ | 228,000,000.00 | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
A-2 notes Ending Principal balance | | | | | | $ | 251,000,000.00 | | $ | (0.00 | ) | (0.0000000 | ) | $ | (0.00 | ) |
| | Pro rata % | | | | | | | | | | | | |
A-3a notes Ending Principal balance | | | | 58.14 | % | $ | 150,000,000.00 | | $ | 147,402,109.94 | | 0.9826807 | | $ | 982.68 | |
A-3b notes Ending Principal balance | | | | 41.86 | % | $ | 108,000,000.00 | | $ | 106,129,519.16 | | 0.9826807 | | $ | 982.68 | |
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 | | $ | 16,259,460.41 | | 0.5002911 | | $ | 500.29 | |
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 | | | | | | | | $ | 14,150.24 | | 0.0000564 | | $ | 0.06 | |
Class A-3a notes Interest Paid | | | | | | | | $ | 285,000.00 | | 0.0019000 | | $ | 1.90 | |
Class A-3b notes Interest Paid | | | | | | | | $ | 170,100.00 | | 0.0015750 | | $ | 1.58 | |
Class A-4a notes Interest Paid | | | | | | | | $ | 212,216.67 | | 0.0019833 | | $ | 1.98 | |
Class A-4b notes Interest Paid | | | | | | | | $ | 205,600.00 | | 0.0021417 | | $ | 2.14 | |
Class B notes Interest Paid | | | | | | | | $ | 43,820.64 | | 0.0013483 | | $ | 1.35 | |
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 | | | | | | | | $ | 11,630,331.76 | | 0.0463360 | | $ | 46.34 | |
Class A-3a notes Principal Paid | | | | | | | | $ | 2,597,890.06 | | 0.0173193 | | $ | 17.32 | |
Class A-3b notes Principal Paid | | | | | | | | $ | 1,870,480.84 | | 0.0173193 | | $ | 17.32 | |
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 | | | | | | | | $ | 540,783.29 | | 0.0166395 | | $ | 16.64 | |
Certificate Principal Paid | | | | | | | | $ | 0.00 | | 0.0000000 | | $ | 0.00 | |
| | | | | | | | | | | | | |
Negitive Carry Account | | | | | | | | | | | | | |
Negitive Carry | | | | 0.75000 | % | 5/22/2003 | | 1.3828 | % | | | | |
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 | % | $ | 12,507,277.24 | | | | | |
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 | | | | | |
| | | | | | | | | | | | | |
Backup Servicer Account | | | | | | | | | | | | | |
Backup Servicer Account Initial Deposit | | | | | | | | $ | 500,000.00 | | | | | |
Backup Servicer Account Beginning Balance | | | | | | | | $ | 409,218.30 | | | | | |
Monthly Backup Servicing Fee (2bps/12*beginning balance or $4000 floor) | | | | | | | | $ | 8,615.51 | | | | | |
Accrued Backup Servicing Fee | | | | | | | | $ | 0.00 | | | | | |
Total Backup Servicing Fee Due | | | | | | | | $ | 8,615.51 | | | | | |
Backup Servicing Fee Paid | | | | | | | | $ | 8,615.51 | | | | | |
Backup Servicer Investment Earnings | | | | | | | | $ | 603.11 | | | | | |
Ending Backup Servicing Account Balance | | | | | | | | $ | 401,205.90 | | | | | |
| | | | | | | | | | | | | |
Total Release to Seller | | | | | | | | $ | 1,253,903.88 | | | | | |
5