8-K 1 finoct.txt CDF FINANCING LLC 10/31/03 8-K November 17, 2003 Securities and Exchange Commission 450 Fifth Street, N.W. Judiciary Plaza Washington, D.C. 20549 Re: Form 8-K CDF Financing, L.L.C. Registration Nos. 333-84458-01 and 333-84458-02 On behalf of CDF Financing, L.L.C. a Delaware Limited Liability Company ("Registrant"), I am transmitting herewith for filing, pursuant to the requirements of the Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System, Form 8-K. Please send either confirmation or suspense notification to e:mail address Pat.o-malley@ge.com at your earliest convenience. Sincerely, /s/ W. Steven Culp Manager SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 November 17, 2003 CDF Financing, L.L.C. (Exact name of registrant as specified in its amended charter) DISTRIBUTION FINANCIAL SERVICES FLOORPLAN MASTER TRUST (Co-Registrant and Issuer with Respect to the Securities) Delaware 333-84458-01 and 333-84458-02 88-0355652 (State or other jurisdiction (Commission (IRS Employer of incorporation File Numbers) identification No.) 655 Maryville Centre Drive St. Louis, Missouri 63141 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (314) 523-3000 Item 5. Other Events. Copies of the monthly Certificateholders' Statements are being filed as Exhibits 1, 2 and 3 to this Current Report on Form 8-K. Item 7.(c) Exhibits. Exhibit Description EX-1 Distribution Financial Services Floorplan Master Trust Compliance/Statistical Reporting Reporting for period ending 10/31/2003 EX-2 Distribution Financial Services Floorplan Master Trust Distribution Date Statement Series 2003-1 Reporting for period ending 10/31/2003 EX-3 Distribution Financial Services Floorplan Master Trust Distribution Date Statement Series 2003-2 Reporting for period ending 10/31/2003 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CDF Financing, L.L.C. on behalf of itself, as Registrant By: /s/ W. Steven Culp Title: Manager EX-1 Distribution Financial Services Floorplan Master Trust Compliance/Statistical Reporting Distribution Date 11/17/2003 Collection Period Ending 10/31/2003 Calculation Of Pool Balance 1 Total "Office" Receivables 3,086,107,348 2 Discount Factor 0.50% 3 End of month Pool Balance 3,070,676,811 Total Trust Receivables-Delinquency 4 NSF 1-30 Office 40,963 5 SAU 1-30 Office 12,331,212 6 Total 12,372,175 7 Trust Receivables 3,086,107,348 8 .75 % of Trust Receivables 0.75% 9 Total 23,145,805 10 Amount in Excess 0 11 NSF 30+ 409,329 12 SAU 30+ 3,567,259 3,976,588 Overconcentrations 13 End of month Pool Balance 3,070,676,811

Limits Actual Excess 14 A/R Receivables 20% ~~604~~614,~~747~~135,~~198~~362 2523,~~624~~901,~~081~~161 0 15 Asset Based Receivables 20% ~~604~~614,~~747~~135,~~198~~362 ~~318~~242,~~746~~540,~~110~~411 0 16 Dealer concentration top 8 2.5% 7576,~~593~~766,~~400~~920 99111,~~927~~712,~~210~~730 2434,~~333~~945,810 17 Dealer concentration Other 2% 6061,~~474~~413,~~720~~536 3228,~~008~~576,~~445~~779 0 18 Manufacturer Concentration Top 3 15% ~~453~~460,~~560~~601,~~398~~522 ~~305~~299,~~075~~350,~~413~~388 0 19 Manufacturer Concentration Other 10% ~~302~~307,~~373~~067,~~599~~681 8694,~~114~~845,~~220~~609 0 20 Product Line Concentration: 21 CE & Appl 25% ~~755~~767,~~933~~669,~~997~~203 ~~112~~133,~~669~~593,~~125~~970 0 22 MIS 25% ~~755~~767,~~933~~669,~~997~~203 ~~275~~316,~~781~~417,~~747~~674 0 23 Motorcycle 25% ~~755~~767,~~933~~669,~~997~~203 ~~419~~409,~~672~~676,~~724~~235 0 24 Marine 35% 1,~~058~~074,~~307~~736,~~596~~884 ~~676~~730,~~007~~402,~~613~~872 0 25 RV 35% 1,~~058~~074,~~307~~736,~~596~~884 ~~857~~881,~~162~~878,~~911~~539 0 26 Music 25% ~~755~~767,~~933~~669,~~997~~203 5960,~~312~~908,~~631~~680 0 27 Industrial Equipment 25% ~~755~~767,~~933~~669,~~997~~203 ~~133~~128,~~589~~251,~~008~~510 0 28 A/R 25% ~~755~~767,~~933~~669,~~997~~203 ~~344~~266,~~370~~441,~~191~~572 0 29 Snowmobiles 25% ~~755~~767,~~933~~669,~~997~~203 2016,~~355~~420,~~578~~898 0 30 Other 25% ~~755~~767,~~933~~669,~~997~~203 ~~140~~142,~~009,~~115,398 0 31 Delayed Funding Receivables ~~323~~321,~~083~~779,~~199~~839 78/31/2003 89/3130/2003 910/3031/2003 Average 32 Charge Offs to Receivables (Annualized) 10.2925% 0.2518% -0.1809% 0.5711% 33 Payment Rate ~~40.95%~~ 39.48% 41.07% 4042.5058% 41.04% Net Receivable Rate - Current Month 34 Interest 5.3812% 35 Discount 2.4655% 36 Total 7.8467% 37 Less Servicing -2.00% 38 Remaining 5.8467%

EX-2 CDF Financing, L.L.C. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 10/31/03 Collection Period 10/1/03 10/31/03 Determination Date 11/13/03 Distribution Date 11/17/03

Dealer Over- Series Series Series Series Total Concentration 2003-1 2003-1 2003-1 2003-1 Date Trust Series Total Class A Class B Class C Pool Balance 1 Beginning of Month Receivables 0809/3130/03 3,~~039~~038,~~384~~930,~~343~~642 2 Plus: Account Additions 0910/01/03 - 3 Beginning of month Principal Receivables 0910/01/03 3,~~039~~038,~~384~~930,~~343~~642 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 0910/01/03 3,~~024~~023,~~187~~735,~~421~~989 6 Beginning of month Dealer Overconcentrations 0910/01/03 3924,~~533~~333,~~264~~810 Beginning of month 7 Unconcentrated Pool Balance 0910/01/03 2,~~984~~999,~~654~~402,~~157~~179 8 End of month Principal Receivables 0910/3031/03 3,~~038~~086,~~930~~107,~~642~~348 9 Discount Factor 0.50% 10End of mo Pool Balance 0910/3031/03 3,~~023~~070,~~735~~676,~~989~~811 11End of month Dealer Overconcentrations 0910/3031/03 2434,~~333~~945,810 12End of month Unconcentrated Pool Balance 0910/3031/03 23,~~999~~035,~~402~~731,~~179~~001 13Overconcentrated % 0910/3031/03 01.8014% 14Unconcentrated % 0910/3031/03 9998.2086% Certificates 15Beginning of month/closing date Invested Amount 0910/01/03 3924,~~533~~333,~~264~~810 750,000,000 716,250,000 22,500,000 11,250,000 16Allocation Percentage 0910/01/03 10.5093% 28.4158% 27.1429% 0.8586% 0.43% 17End of month Invested Amount 0910/3031/03 2434,~~333~~945,810 750,000,000 716,250,000 22,500,000 11,250,000 18Principal Payments Outstanding Principal 1011/13/03 - - - - - 19Balance 1011/1517/03 2434,~~333~~945,810 750,000,000 716,250,000 22,500,000 11,250,000 20Pool Factor 1011/1517/03 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 0910/15/03 - 22Determination Date - Deposit 1011/1517/03 23Distribution Date Disbursement 1011/1517/03 - 24Excess Funding Account Balance 1011/1517/03 - Reserve Fund 25Required Amount 1011/1517/03 26,250,000 26Beginning Balance 0910/15/03 26,250,000 27Deposits 0910/15/03 1011/1517/03 1920,~~662~~524 28Disbursements 0910/15/03 1011/1517/03 1920,~~662~~524 29Ending Balance 1011/1517/03 26,250,000 Collections 30Principal Allocation Percentage 0910/3031/03 01.8217% 25.1300% 2423.0088% 0.75% 0.38% 31Floating Allocation Percentage 0910/3031/03 01.8217% 25.1300% 2423.0088% 0.75% 0.38% 32Principal Collections 0910/01/03 0910/3031/03 1,~~248~~293,~~258~~940,~~707~~587 1,~~035~~311,~~600~~204 33Nonprincipal ~~Collectio09~~Collectio10/01/03 0910/3031/03 20,~~008~~435,~~096~~865 136,~~145~~512 34Total Collections 0910/01/03 0910/3031/03 1,~~268~~314,~~266~~376,~~803~~452 1,~~048~~317,~~745~~716 Defaults 35Defaulted Amount 0910/01/03 0910/3031/03 ~~452~~(233,~~228~~782) 36Investor Default ~~Amoun09~~Amoun10/01/03 0910/3031/03 - ~~113~~(58,~~639~~458) ~~108~~(55,~~525~~827) ~~3,409~~ (1,~~705~~754) (877) Interest 37Monthly Interest 1011/1517/03 - ~~764~~841,~~563~~019 ~~710~~781,~~281~~309 2831,~~313~~144 2528,~~969~~566 38Interest Shortfall 1011/1517/03 - - - - - 39Additional Interest 1011/1517/03 - - - - - 40Total 1011/1517/03 - ~~764~~841,~~563~~019 ~~710~~781,~~281~~309 2831,~~313~~144 2528,~~969~~566 Servicing Fee 41Certificate Balance for Servicing Fee determination 0910/01/03 750,000,000 716,250,000 22,500,000 11,250,000 42Servicing Fee Rate 2.00% 2.00% 2.00% 2.00% 43Servicing Fee 0910/01/03 0910/3031/03 1,250,000 1,193,750 37,500 18,750 44Remaining Servicing Fee 1011/1517/03 1,250,000 1,193,750 37,500 18,750 Excess Servicing 45Nonprincipal ~~Collectio09~~Collectio10/01/03 0910/3031/03 20,~~008~~435,~~096~~865 136,~~145~~512 46Servicer Advance Less Reimbursement of Servicer Advance 0910/01/03 0910/3031/03 1,~~309~~182,~~742~~484 47Floating Allocation Percentage 01.8217% 25.1300% 2423.0088% 0.75% 0.38% 48Investor Nonprincipal Collections 0910/01/03 0910/3031/03 136,~~145~~512 5,~~027~~109,~~742~~985 4,~~801~~880,~~494~~035 ~~150~~153,~~832~~300 7576,~~416~~650 49Investor portion of Servicer Advance Less Reimbursement 0910/01/03 0910/3031/03 - ~~329~~295,~~120~~679 ~~314~~282,~~309~~374 98,~~874~~870 4,~~937~~435 50Plus: Investment ~~Proc09~~Proc10/01/03 0910/3031/03 - 1920,~~721~~543 51Less: 52Monthly Interest 1011/13/03 - ~~764~~841,~~563~~019 ~~710~~781,~~281~~309 2831,~~313~~144 2528,~~969~~566 53Prior Monthly Interest 1011/13/03 - - - - - 54Additional Interest 1011/13/03 - - - - - 55Reserve Fund Deposit 1011/13/03 - - - - - 56Default Amount 0910/01/03 0910/3031/03 - ~~113~~(58,~~639~~458) ~~108~~(55,~~525~~827) ~~3,409~~ (1,~~705~~754) (877) 57Charge-Offs 0910/01/03 0910/3031/03 - - - - - 58Monthly Servicing Fee 1011/1517/03 - 1,250,000 1,193,750 37,500 18,750 59Carry-over Amount 1011/1517/03 - - - - - 60Carry-over Amount 61 Additional Interest 1011/1517/03 - - - - - 62Balance: Excess ~~Servi09~~Servi10/01/03 0910/3031/03 136,~~145~~512 3,~~248~~393,~~381~~646 Collection Account 63Beginning Balance 0910/15/03 - 64Deposits 0910/15/03 1011/1517/03 1,~~093~~136,~~683~~698 65Disbursements 0910/15/03 1011/1517/03 1,~~093~~136,~~683~~698 66Ending Balance 1011/1517/03 - Interest Funding Account 67Beginning Balance 0910/15/03 - 68Deposits 0910/15/03 1011/1517/03 ~~764~~841,~~622~~038 69Disbursements 0910/15/03 1011/1517/03 ~~764~~841,~~622~~038 70Ending Balance 1011/1517/03 - Principal Funding Account 71Beginning Balance 0910/15/03 - 72Deposits 0910/15/03 1011/1517/03 - 73Disbursements 0910/15/03 1011/1517/03 - 74Ending Balance 1011/1517/03 - Total Amount Distributed 1011/1517/03 ~~764~~841,~~563~~019 Interest Rate for the Next Period 75One-month LIBOR 1011/1517/03 1112/1614/03 1.12000% 76Net Receivables Rate 0910/3031/03 5.~~84344~~66605%

EX-3 CDF Financing, L.L.C. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 10/31/03 Collection Period 10/01/03 10/31/03 Determination Date 11/13/03 Distribution Date 11/17/03

Dealer Over- Series Series Series Series Total Concentration 2003-2 2003-2 2003-2 2003-2 Date Trust Series Total Class A Class B Class C Pool Balance 1 Beginning of Month Receivables 0809/3130/03 3,~~039~~038,~~384~~930,~~343~~642 2 Plus: Account Additions 0910/01/03 - 3 Beginning of month Principal Receivables 0910/01/03 3,~~039~~038,~~384~~930,~~343~~642 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 0910/01/03 3,~~024~~023,~~187~~735,~~421~~989 6 Beginning of month Dealer Overconcentrations 0910/01/03 3924,~~533~~333,~~264~~810 Beginning of month 7 Unconcentrated Pool Balance 0910/01/03 2,~~984~~999,~~654~~402,~~157~~179 8 End of month Principal Receivables 0910/3031/03 3,~~038~~086,~~930~~107,~~642~~348 9 Discount Factor 0.50% 10End of month Pool Balance 0910/3031/03 3,~~023~~070,~~735~~676,~~989~~811 11End of month Dealer Overconcentrations 0910/3031/03 2434,~~333~~945,810 12End of month Unconcentrated Pool Balance 0910/3031/03 23,~~999~~035,~~402~~731,~~179~~001 13Overconcentrated Percentage 0910/3031/03 01.8014% 14Unconcentrated Percentage 0910/3031/03 9998.2086% Certificates 15Beginning of month/closing date Invested Amount 0910/01/03 3924,~~533~~333,~~264~~810 1,000,000,000 955,000,000 30,000,000 15,000,000 16Allocation Percentage 0910/01/03 10.5093% 3738.8910% 36.1839% 1.14% 0.57% 17End of month Invested Amount 0910/3031/03 2434,~~333~~945,810 1,000,000,000 955,000,000 30,000,000 15,000,000 18Principal Payments Outstanding Principal 1011/13/03 - - - - - 19Balance 1011/1517/03 2434,~~333~~945,810 1,000,000,000 955,000,000 30,000,000 15,000,000 20Pool Factor 1011/1517/03 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 0910/15/03 - 22Determination Date deposit Deposit 1011/1517/03 23Distribution Date Disbursement 1011/1517/03 - 24Excess Funding Account Balance 1011/1517/03 - Reserve Fund 25Required Amount 1011/1517/03 35,000,000 26Beginning Balance 0910/15/03 35,000,000 27Deposits 0910/15/03 1011/1517/03 2627,~~217~~365 28Disbursements 0910/15/03 1011/1517/03 2627,~~217~~365 29Ending Balance 1011/1517/03 35,000,000 Collections 30Principal Allocation Percentage 0910/3031/03 01.8217% 33.5034% 3231.0084% 1.0100% 0.50% 31Floating Allocation Percentage 0910/3031/03 01.8217% 33.5034% 3231.0084% 1.0100% 0.50% 32Principal Collections 0910/01/03 0910/3031/03 1,~~248~~293,~~258~~940,~~707~~587 1,~~035~~311,~~600~~204 33Nonprincipal ~~Collectio09~~Collectio10/01/03 0910/3031/03 20,~~008~~435,~~096~~865 136,~~145~~512 34Total Collections 0910/01/03 0910/3031/03 1,~~268~~314,~~266~~376,~~803~~452 1,~~048~~317,~~745~~716 Defaults 35Defaulted Amount 0910/01/03 0910/3031/03 ~~452~~(233,~~228~~782) 36Investor Default ~~Amoun09~~Amoun10/01/03 0910/3031/03 - ~~151~~(77,~~518~~942) ~~144~~(74,~~699~~435) 4(2,~~546~~338) 2(1,~~273~~169) Interest 37Monthly Interest 1011/1517/03 - 1,~~047~~152,~~792~~571 ~~970~~1,~~917~~068,008 3943,~~750~~725 3740,~~125~~838 38Interest Shortfall 1011/1517/03 - - - - - 39Additional Interest 1011/1517/03 - - - - - 40Total 1011/1517/03 - 1,~~047~~152,~~792~~571 ~~970~~1,~~917~~068,008 3943,~~750~~725 3740,~~125~~838 Servicing Fee 41Certificate Balance for Servicing Fee determination 0910/01/03 1,000,000,000 955,000,000 30,000,000 15,000,000 42Servicing Fee Rate 2.00% 2.00% 2.00% 2.00% 43Servicing Fee 0910/01/03 0910/3031/03 1,666,667 1,591,667 50,000 25,000 44Remaining Servicing Fee 1011/1517/03 1,666,667 1,591,667 50,000 25,000 Excess Servicing 45Nonprincipal ~~Collectio09~~Collectio10/01/03 0910/3031/03 20,~~008~~435,~~096~~865 136,~~145~~512 46Servicer Advance Less Reimbursement of Servicer Advance 0910/01/03 0910/3031/03 1,~~309~~182,~~742~~484 47Floating Allocation Percentage 01.8217% 33.5034% 3231.0084% 1.0100% 0.50% 48Investor Nonprincipal Collections 0910/01/03 0910/3031/03 136,~~145~~512 6,~~703~~813,~~657~~313 6,~~401~~506,~~992~~714 ~~201~~204,~~110~~399 ~~100~~102,~~555~~200 49Investor portion of Servicer Advance Less ~~Reimburse09~~Reimburse10/01/03 0910/3031/03 - ~~438~~394,~~825~~240 ~~419~~376,~~078~~499 1311,~~165~~827 65,~~582~~914 50Plus: Investment ~~Proc09~~Proc10/01/03 0910/3031/03 - 2627,~~297~~392 51Less: 52Monthly Interest 1011/13/03 - 1,~~047~~152,~~792~~571 ~~970~~1,~~917~~068,008 3943,~~750~~725 3740,~~125~~838 53Prior Monthly Interest 1011/13/03 - - - - - 54Additional Interest 1011/13/03 - - - - - 55Reserve Fund Deposit 1011/13/03 - - - - - 56Default Amount 0910/01/03 0910/3031/03 - ~~151~~(77,~~518~~942) ~~144~~(74,~~699~~435) 4(2,~~546~~338) 2(1,~~273~~169) 57Charge-Offs 0910/01/03 0910/3031/03 - - - - - 58Monthly Servicing Fee 1011/1517/03 - 1,666,667 1,591,667 50,000 25,000 59Carry-over Amount 1011/1517/03 - - - - - 60Carry-over Amount 61 Additional Interest 1011/1517/03 - - - - - 62Balance: Excess ~~Servi09~~Servi10/01/03 0910/3031/03 136,~~145~~512 4,~~302~~493,~~802~~649 Collection Account 63Beginning Balance 0910/15/03 - 64Deposits 0910/15/03 1011/1517/03 1,~~486~~546,~~617~~811 65Disbursements 0910/15/03 1011/1517/03 1,~~486~~546,~~617~~811 66Ending Balance 1011/1517/03 - Interest Funding Account 67Beginning Balance 0910/15/03 - 68Deposits 0910/15/03 1011/1517/03 1,~~047~~152,~~872~~598 69Disbursements 0910/15/03 1011/1517/03 1,~~047~~152,~~872~~598 70Ending Balance 1011/1517/03 - Principal Funding Account 71Beginning Balance 0910/15/03 - 72Deposits 0910/15/03 1011/1517/03 - 73Disbursements 0910/15/03 1011/1517/03 - 74Ending Balance 1011/1517/03 - Total Amount Distributed 1011/1517/03 1,~~047~~152,~~792~~571 Interest Rate for the Next Period 75One-month LIBOR 1011/1517/03 1112/1614/03 1.12000% 76Net Receivables Rate 0910/3031/03 5.~~84344~~66605%

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