Cabela's 2009 Annual Report Download - page 94

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85
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
The table below presents quantitative information about delinquencies, net charge-offs, and components of
managed credit card loans, including securitized loans:
2009 2008
Credit card loans held for sale (including transferor’s interest of $126,328
and $143,411) $ 127,450 $157,301
Credit card loans receivable, net of allowances of $1,374 and $1,507 8,485 9,925
Total $135,935 $167,226
Composition of credit card loans at year end:
Loans serviced $ 2,561,734 $2,347,223
Loans securitized and sold to outside investors (2,272,900)(2,142,688)
Securitized loans with securities owned by WFB which are classified as
asset-backed securities in retained interests on securitized loans (145,852)(31,584)
142,982 172,951
Less valuation adjustments and allowance for loan losses (7,047)(5,725)
Total (including transferor’s interest of $126,328 and $143,411) $ 135,935 $167,226
Delinquent loans including finance charges and fees at year end:
Managed credit card loans:
30-89 days $ 31,719 $28,712
90 days or more and still accruing 14,536 11,145
Securitized credit card loans including transferor’s interest:
30-89 days 31,336 28,148
90 days or more and still accruing 14,376 10,761
Total net charge-offs including finance charges and fees for the year ended:
Managed credit card loans 117,072 61,448
Securitized credit card loans including transferor’s interest 114,644 60,033
Annual average credit card loans including finance charges and fees:
Managed credit card loans 2,311,820 2,085,481
Securitized credit card loans including transferor’s interest 2,283,103 2,051,295
Total net charge-offs as a percentage of annual average loans:
Managed credit card loans 5.06%2.95%
Securitized credit card loans including transferor’s interest 5.02%2.93%