Cabela's 2010 Annual Report Download - page 93

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83
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
WFB’s retained interests, including asset-backed securities, and related receivables were comprised of the
following components prior to the consolidation of the Trust as of January 2, 2010:
Asset-backed trading securities $ 68,752
Asset-backed available for sale securities (amortized cost of $76,984) 82,705
Interest-only strip, cash reserve accounts, and cash accounts 24,577
Transferor’s interest 126,328
Other assets - accrued interest receivable and amounts due from the Trust 38,278
Total $340,640
The table below presents quantitative information about delinquencies, net charge-offs, and components
of managed credit card loans, including securitized loans, prior to the consolidation of the Trust, as of
January 2, 2010:
Credit card loans held for sale (including gross transferor’s interest of $126,328) $ 127,450
Credit card loans receivable, net of allowances of $1,374 8,485
Total $135,935
Composition of credit card loans at year end:
Loans serviced $ 2,561,734
Loans securitized and sold to outside investors (2,272,900)
Securitized loans with securities owned by WFB which are classified as
asset-backed securities in retained interests on securitized loans (145,852)
142,982
Less adjustments to valuations and allowance for loan losses (7,047)
Total (including gross transferor’s interest of $126,328) $ 135,935
Delinquent loans including finance charges and fees at year end:
Managed credit card loans:
30-89 days $ 31,719
90 days or more and still accruing 14,536
Securitized credit card loans including transferor’s interest:
30-89 days 31,336
90 days or more and still accruing 14,376
Total net charge-offs including finance charges and fees for the year ended:
Managed credit card loans 117,072
Securitized credit card loans including transferor’s interest 114,644
Annual average credit card loans including finance charges and fees:
Managed credit card loans 2,311,820
Securitized credit card loans including transferor’s interest 2,283,103
Total net charge-offs as a percentage of annual average loans:
Managed credit card loans 5.06%
Securitized credit card loans including transferor’s interest 5.02%