8-K 1 mtsep.txt DISTRIBUTION FINANCIAL SERVICES FLOORPLAN MASTER TRUST 9/30/04 8-K October 15, 2004 Securities and Exchange Commission 450 Fifth Street, N.W. Judiciary Plaza Washington, D.C. 20549 Re: Form 8-K Distribution Financial Services Floorplan Master Trust Registration No. 033-70814-01 On behalf of Distribution Financial Services Floorplan Master Trust, 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 Controller 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 October 15, 2004 DISTRIBUTION FINANCIAL SERVICES FLOORPLAN MASTER TRUST (Co-Registrant and Issuer with Respect to the Securities) New York 033-70814-01 13-7031011 (State or other jurisdiction (Commission (IRS Employer of organization) File Numbers) identification No.) c/o Wilmington Trust Company 520 Madison Avenue New York, New York 10022 (Address of principal executive offices) Registrant's telephone number, including area code: (212) 415-0545 Item 8.01. Other Events. Monthly Reporting In no-action letters issued to a variety of issuers of asset-backed securities, whose principal assets are receivables, the Division of Corporation Finance has stated that it would not raise any objection if specified information was filed monthly on Form 8-K in lieu of quarterly reports on Form 10-Q. In reliance particularly on the letter relating to ITT Floorplan Receivables, L.P. (April 25, 1994), CDF Floorplan Receivables, L.P., on behalf of itself and its co-registrant Distribution Financial Services Floorplan Master Trust, has adopted this monthly reporting procedure and is filing this and other monthly reports on Form 8-K in lieu of quarterly reports on Form 10-Q. Item 9.01. Financial Statements and Exhibits. (a) Not Applicable (b) Not Applicable (c) Exhibits. Exhibit No. Document Description 99.1 Distribution Financial Services Floorplan Master Trust Compliance/Statistical Reporting Reporting for period ending 9/30/2004 99.2 Distribution Financial Services Floorplan Master Trust Payment Date Statement Series 2000-2 Reporting for period ending 9/30/2004 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. DISTRIBUTION FINANCIAL SERVICES FLOORPLAN MASTER TRUST By: CDF Floorplan Receivables, L.P. By: CDF Floorplan Receivables, Inc. Its General Partner By: /s/ W. Steven Culp Title: Controller EX-1 Distribution Financial Services Floorplan Master Trust Compliance/Statistical Reporting Distribution Date 10/15/2004 Collection Period Ending 9/30/2004 Calculation Of Pool Balance 1 Total "Office" Receivables 2,919,219,142 2 Discount Factor 0.50% 3 End of month Pool Balance 2,904,623,046 Total Trust Receivables-Delinquency 4 NSF 1-30 Office 432,493 5 SAU 1-30 Office 8,905,745 6 Total 9,338,238 7 Trust Receivables 2,919,219,142 8 .75 % of Trust Receivables 0.75% 9 Total 21,894,144 10 Amount in Excess 0 11 NSF 30+ 729,059 12 SAU 30+ 1,734,792 2,463,851 Overconcentrations 13 End of month Pool Balance 2,904,623,046

Limits Actual Excess 14 A/R Receivables 20% ~~570~~580,~~757~~924,~~759~~609 6552,~~833~~584,~~798~~556 0 15 Asset Based Receivables 20% ~~570~~580,~~757~~924,~~759~~609 ~~206~~204,~~066~~316,~~734~~492 0 16 Dealer concentration top 8 2.5% 7172,~~344~~615,~~720~~576 8387,~~784~~123,~~360~~184 1214,~~439~~507,~~640~~60 17 Dealer concentration Other 2% 5758,~~075~~092,~~776~~461 2932,~~441~~499,~~670~~202 0 18 Manufacturer Concentration Top 3 15% ~~428~~435,~~068~~693,~~320~~457 ~~288~~275,~~946~~131,~~391~~632 0 19 Manufacturer Concentration Other 10% ~~285~~290,~~378~~462,~~880~~305 9088,~~315~~061,~~277~~385 0 20 Product Line Concentration: 21 CE & Appl 25% ~~713~~726,~~447~~155,~~199~~762 9798,~~910~~637,~~936~~268 0 22 MIS 25% ~~713~~726,~~447~~155,~~199~~762 ~~318~~304,~~581~~486,~~502~~217 0 23 Motorcycle 25% ~~713~~726,~~447~~155,~~199~~762 ~~383~~366,~~867~~861,~~577~~089 0 24 Marine 35% ~~998~~1,~~826~~016,~~079~~618,066 ~~598~~643,~~513~~146,~~658~~802 0 25 RV 35% ~~998~~1,~~826~~016,~~079~~618,066 ~~883~~925,~~237~~827,~~939~~393 0 26 Music 25% ~~713~~726,~~447~~155,~~199~~762 57,~~160~~852,~~632~~084 0 27 Industrial Equipment 25% ~~713~~726,~~447~~155,~~199~~762 ~~131~~135,~~146~~273,~~610~~021 0 28 A/R 25% ~~713~~726,~~447~~155,~~199~~762 ~~271~~256,~~900~~901,~~532~~048 0 29 Snowmobiles 25% ~~713~~726,~~447~~155,~~199~~762 0 0 30 Other 25% ~~713~~726,~~447~~155,~~199~~762 ~~125~~130,~~810~~234,~~059~~220 0 31 Delayed Funding Receivables ~~285~~262,~~602~~331,~~904~~161 67/3031/2004 78/31/2004 89/3130/2004 Average 32 Charge Offs to Receivables (Annualized) -0.0732% 0.3207% -0.0727% 0.1104% 33 Payment Rate 44.~~06% 44.~~47% 45.61% 41.93% 44.7100% Net Receivable Rate - Current Month 34 Interest 5.3237% 35 Discount 2.7452% 36 Total 87.0689% 37 Less Servicing -2.00% 38 Remaining 65.0689%

EX-2 CDF Floorplan Receivables, L.P. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 09/30/04 Collection Period 09/01/04 09/30/04 Determination Date 10/13/04 Distribution Date 10/15/04

Dealer Over- Series Series Series Series Total Concentration ~~2003~~2000-12 ~~2003~~2000-12 ~~2003~~2000-12 ~~2003~~2000-12 Date Trust Series Total Class A Class B Class C Pool Balance 1 Beginning of Month Receivables 0708/31/04 2,~~891~~868,~~926~~129,~~033~~444 2 Plus: Account Additions 0809/01/04 - 3 Beginning of month Principal Receivables 0809/01/04 2,~~891~~868,~~926~~129,~~033~~444 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 0809/01/04 2,~~877~~853,~~466~~788,~~402~~797 6 Beginning of month Dealer Overconcentrations 0809/01/04 1412,~~913~~439,~~130~~640 Beginning of month 7 Unconcentrated Pool Balance 0809/01/04 2,~~862~~841,~~553~~349,~~272~~157 8 End of month Principal Receivables 0809/3130/04 2,~~868~~919,~~129~~219,~~444~~142 9 Discount Factor 0.50% 10End of mo Pool Balance 0809/3130/04 2,~~853~~904,~~788~~623,~~797~~046 11End of month Dealer Overconcentrations 0809/3130/04 1214,~~439~~507,~~640~~608 12End of month Unconcentrated Pool Balance 0809/3130/04 2,~~841~~890,~~349~~115,~~157~~438 13Overconcentrated % 0809/3130/04 0.4450% 14Unconcentrated % 0809/3130/04 99.5650% Certificates 15Beginning of month/closing date Invested Amount 0809/01/04 1412,~~913~~439,~~130~~640 ~~750~~500,000,000 ~~716~~477,~~250~~500,000 2215,~~500~~000,000 117,~~250~~500,000 16Allocation Percentage 0809/01/04 0.5445% 2618.9816% 2517.7734% 0.8154% 0.4027% 17End of month Invested Amount 0809/3130/04 1214,~~439~~507,~~640~~608 ~~750~~500,000,000 ~~716~~477,~~250~~500,000 2215,~~500~~000,000 117,~~250~~500,000 18Principal Payments Outstanding Principal 0910/13/04 - - - - - 19Balance 0910/15/04 1214,~~439~~507,~~640~~608 ~~750~~500,000,000 ~~716~~477,~~250~~500,000 2215,~~500~~000,000 117,~~250~~500,000 20Pool Factor 0910/15/04 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 0809/1615/04 - 22Determination Date - Deposit 0910/15/04 ~~23Distribution~~- Distribution Date ~~Disbursement~~23Disbursement 0910/15/04 - ~~24Excess~~Excess Funding Account ~~Balance~~24Balance 0910/15/04 - Reserve Fund 25Required Amount 0910/15/04 2617,~~250~~500,000 26Beginning Balance 0809/1615/04 2617,~~250~~500,000 27Deposits 0809/1615/04 0910/15/04 2920,~~134~~923 28Disbursements 0809/1615/04 0910/15/04 2920,~~134~~923 29Ending Balance 0910/15/04 2617,~~250~~500,000 Collections 30Principal Allocation Percentage 0809/3130/04 0.4351% 2617.2060% 2516.0281% 0.7953% 0.3926% 31Floating Allocation Percentage 0809/3130/04 0.4351% 2617.2060% 2516.0281% 0.7953% 0.3926% 32Principal Collections 0809/01/04 0809/3130/04 1,~~319~~202,~~129~~574,~~283~~759 ~~211~~210,~~120~~986 33Nonprincipal ~~Collectio08~~Collectio09/01/04 0809/3130/04 2018,~~116~~908,~~309~~723 1,~~053~~046 34Total Collections 0809/01/04 0809/3130/04 1,~~339~~221,~~245~~483,~~592~~482 212,~~173~~032 Defaults 35Defaulted Amount 0809/01/04 0809/3130/04 ~~160~~(650,~~365~~826) 36Investor Default ~~Amoun08~~Amoun09/01/04 0809/3130/04 - 42(114,~~016~~528) 40(109,~~126~~374) (3,436) (1,~~260~~718) ~~630~~ Interest 37Monthly Interest 0910/15/04 - 1845,~~064,563~~876 ~~996~~799,~~781~~813 3728,~~313~~500 3017,~~469~~563 38Interest Shortfall 0910/15/04 - - - - - 39Additional Interest 0910/15/04 - - - - - 40Total 0910/15/04 - 1845,~~064,563~~876 ~~996~~799,~~781~~813 3728,~~313~~500 3017,~~469~~563 Servicing Fee 41Certificate Balance for Servicing Fee determination 089/01/042004 ~~750~~500,000,000 ~~716~~477,~~250~~500,000 2215,~~500~~000,000 117,~~250~~500,000 42Servicing Fee Rate 2.00% 2.00% 2.00% 2.00% 43Servicing Fee 0809/01/04 0809/3130/04 1833,~~250~~333 795,~~000~~833 125,~~193,750~~000 3712,500 ~~18,750~~ 44Remaining Servicing Fee 0910/15/04 1833,~~250~~333 795,~~000~~833 125,~~193,750~~000 3712,500 ~~18,750~~ Excess Servicing 45Nonprincipal ~~Collectio08~~Collectio09/01/04 0809/3130/04 2018,~~116~~908,~~309~~723 1,~~053~~046 46Servicer Advance Less Reimbursement of Servicer Advance 0809/01/04 0809/3130/04 1,~~055~~071,~~899~~158 47Floating Allocation Percentage 0.4351% 2617.2060% 2516.0281% 0.7953% 0.3926% 48Investor Nonprincipal Collections 0809/01/04 0809/3130/04 1,~~053~~046 53,~~270~~327,~~551~~420 53,~~033~~177,~~376~~686 ~~158~~99,~~117~~823 7949,~~058~~911 49Investor portion of Servicer Advance Less Reimbursement 0809/01/04 0809/3130/04 - ~~276~~188,~~649~~494 ~~264~~180,~~200~~012 85,~~299~~655 42,~~150~~827 50Plus: Investment ~~Proc08~~Proc09/01/04 0809/3130/04 - 2923,~~241~~942 51Less: 52Monthly Interest 0910/15/04 - 1845,~~064,563~~876 ~~996~~799,~~781~~813 3728,~~313~~500 3017,~~469~~563 53Prior Monthly Interest 0910/15/04 - - - - - 54Additional Interest 0910/15/04 - - - - - 55Reserve Fund Deposit 0910/15/04 - - - - - 56Default Amount 0809/01/04 0809/3130/04 - 42(114,~~016~~528) 40(109,~~126~~374) (3,436) (1,~~260~~718) ~~630~~ 57Charge-Offs 0809/01/04 0809/3130/04 - - - - - 58Monthly Servicing Fee 0910/15/04 - 1833,~~250~~333 795,~~000~~833 125,~~193,750~~000 3712,500 ~~18,750~~ 59Carry-over Amount 0910/15/04 - - - - - 60Carry-over Amount 61 Additional Interest 0910/15/04 - - - - - 61Yield Supplement Dep. 10/15/04 - - 62Balance: Excess ~~Servi08~~Servi09/01/04 0809/3130/04 1,~~053~~046.00 31,~~219~~975,~~862~~175.00 Collection Account 63Beginning Balance 0809/1615/04 - 64Deposits 0809/1615/04 0910/15/04 1,~~341~~034,~~212~~370 65Disbursements 0809/1615/04 0910/15/04 1,~~341~~034,~~212~~370 66Ending Balance 0910/15/04 - Interest Funding Account 67Beginning Balance 0809/1615/04 - 68Deposits 0809/1615/04 0910/15/04 1845,~~064,670~~906 69Disbursements 0809/1615/04 0910/15/04 1845,~~064,670~~906 70Ending Balance 0910/15/04 - Principal Funding Account 71Beginning Balance 0809/1615/04 - 72Deposits 0809/1615/04 0910/15/04 - 73Disbursements 0809/1615/04 0910/15/04 - 74Ending Balance 0910/15/04 - ~~75Total~~Yield Supplement Account 75Required Amount ~~Distributed~~10/15/04 2,500,000 76Beginning balance 09/15/04 12,~~064~~500,~~563~~000 77Deposit 09/15/04 10/15/04 2,989 78Disbursements 09/15/04 10/15/04 2,989 79Ending balance 10/15/04 2,500,000 80Total Amount Distributed 10/15/04 845,876 Interest Rate for the Next Period ~~76One~~81One-month LIBOR 910/15/04 1011/15/04 1.~~76000~~87000% ~~77Net~~82Net Receivables Rate 0809/3130/04 65.~~06298~~88646%

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 07/31/04 2,891,926,033 2 Plus: Account Additions 08/01/04 - 3 Beginning of month Principal Receivables 08/01/04 2,891,926,033 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 08/01/04 2,877,466,402 6 Beginning of month Dealer Overconcentrations 08/01/04 14,913,130 Beginning of month 7 Unconcentrated Pool Balance 08/01/04 2,862,553,272 8 End of month Principal Receivables 08/31/04 2,868,129,444 9 Discount Factor 0.50% 10End of month Pool Balance 08/31/04 2,853,788,797 11End of month Dealer Overconcentrations 08/31/04 12,439,640 12End of month Unconcentrated Pool Balance 08/31/04 2,841,349,157 13Overconcentrated Percentage 08/31/04 0.44% 14Unconcentrated Percentage 08/31/04 99.56% Certificates 15Beginning of month/closing date Invested Amount 08/01/04 14,913,130 1,000,000,000 955,000,000 30,000,000 15,000,000 16Allocation Percentage 08/01/04 0.54% 35.97% 34.35% 1.08% 0.54% 17End of month Invested Amount 08/31/04 12,439,640 1,000,000,000 955,000,000 30,000,000 15,000,000 18Principal Payments Outstanding Principal 09/13/04 - - - - - 19Balance 09/15/04 12,439,640 1,000,000,000 955,000,000 30,000,000 15,000,000 20Pool Factor 09/15/04 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 08/16/04 - 22Determination Date deposit Deposit 09/15/04 23Distribution Date Disbursement 09/15/04 - 24Excess Funding Account Balance 09/15/04 - Reserve Fund 25Required Amount 09/15/04 35,000,000 26Beginning Balance 08/16/04 35,000,000 27Deposits 08/16/04 09/15/04 38,845 28Disbursements 08/16/04 09/15/04 38,845 29Ending Balance 09/15/04 35,000,000 Collections 30Principal Allocation Percentage 08/31/04 0.43% 34.93% 33.36% 1.05% 0.52% 31Floating Allocation Percentage 08/31/04 0.43% 34.93% 33.36% 1.05% 0.52% 32Principal Collections 08/01/04 08/31/04 1,319,129,283 211,120 33Nonprincipal Collectio08/01/04 08/31/04 20,116,309 1,053 34Total Collections 08/01/04 08/31/04 1,339,245,592 212,173 Defaults 35Defaulted Amount 08/01/04 08/31/04 160,365 36Investor Default Amoun08/01/04 08/31/04 - 56,022 53,501 1,681 840 Interest 37Monthly Interest 09/15/04 - 1,447,792 1,352,917 51,750 43,125 38Interest Shortfall 09/15/04 - - - - - 39Additional Interest 09/15/04 - - - - - 40Total 09/15/04 - 1,447,792 1,352,917 51,750 43,125 Servicing Fee 41Certificate Balance for Servicing Fee determination 08/01/04 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 08/01/04 08/31/04 1,666,667 1,591,667 50,000 25,000 44Remaining Servicing Fee 09/15/04 1,666,667 1,591,667 50,000 25,000 Excess Servicing 45Nonprincipal Collectio08/01/04 08/31/04 20,116,309 1,053 46Servicer Advance Less Reimbursement of Servicer Advance 08/01/04 08/31/04 1,055,899 47Floating Allocation Percentage 0.43% 34.93% 33.36% 1.05% 0.52% 48Investor Nonprincipal Collections 08/01/04 08/31/04 1,053 7,027,401 6,711,168 210,822 105,411 49Investor portion of Servicer Advance Less Reimburse08/01/04 08/31/04 - 368,866 352,267 11,066 5,533 50Plus: Investment Proc08/01/04 08/31/04 - 38,991 51Less: 52Monthly Interest 09/15/04 - 1,447,792 1,352,917 51,750 43,125 53Prior Monthly Interest 09/15/04 - - - - - 54Additional Interest 09/15/04 - - - - - 55Reserve Fund Deposit 09/15/04 - - - - - 56Default Amount 08/01/04 08/31/04 - 56,022 53,501 1,681 840 57Charge-Offs 08/01/04 08/31/04 - - - - - 58Monthly Servicing Fee 09/15/04 - 1,666,667 1,591,667 50,000 25,000 59Carry-over Amount 09/15/04 - - - - - 60Carry-over Amount 61 Additional Interest 09/15/04 - - - - - 62Balance: Excess Servi08/01/04 08/31/04 1,053 4,264,777 Collection Account 63Beginning Balance 08/16/04 - 64Deposits 08/16/04 09/15/04 1,816,658 65Disbursements 08/16/04 09/15/04 1,816,658 66Ending Balance 09/15/04 - Interest Funding Account 67Beginning Balance 08/16/04 - 68Deposits 08/16/04 09/15/04 1,447,938 69Disbursements 08/16/04 09/15/04 1,447,938 70Ending Balance 09/15/04 - Principal Funding Account 71Beginning Balance 08/16/04 - 72Deposits 08/16/04 09/15/04 - 73Disbursements 08/16/04 09/15/04 - 74Ending Balance 09/15/04 - 75Total Amount Distributed 09/15/04 1,447,792 Interest Rate for the Next Period 76One-month LIBOR 9/15/04 10/15/04 1.76000% 77Net Receivables Rate 08/31/04 6.06298%

Dealer Note Over- Trust Total Concentration Certificate Date Trust Series Series Pool Balance 1 Beginning of Month Receivables 7/31/2004 2,891,926,033 2 Plus: Account Additions 8/01/2004 - 3 Beginning of Month Principal Receivables 8/01/2004 2,891,926,033 4 Discount Factor 0.50% 5 Beginning of Month Pool Balance 8/01/2004 2,877,466,402 6 Beginning of Month Dealer Overconcentrations 8/01/2004 14,913,130 7 Beginning of Month Unconcentrated Pool Balance 8/01/2004 2,862,553,272 8 End of Month Principal Receivables 8/31/2004 2,868,129,444 9 Discount Factor 0.50% 10 End of Month Pool Balance 8/31/2004 2,853,788,797 11 End of Month Dealer Overconcentrations 8/31/2004 12,439,640 12 End of Month Unconcentrated Pool Balance 8/31/2004 2,841,349,157 13 Overconcentrated Percentage 8/31/2004 0.44% 14 Unconcentrated Percentage 8/31/2004 99.56% Certificates 15 Beginning of Month/Closing Date Invested Amount 8/01/2004 14,913,130 514,966,403 16 Series 2004-NTC Allocation Percentage 8/01/2004 0.54% 18.52% 17 End of Month Invested Amount 8/31/2004 12,439,640 491,288,797 18 Principal Payments 9/13/2004 - - 19 Outstanding Principal Balance 9/15/2004 12,439,640 491,288,797 20 Pool Factor 9/15/2004 1.00000 Collections 21 Principal Allocation Percentage 8/31/2004 0.43% 17.47% 22 Floating Allocation Percentage 8/31/2004 0.43% 17.47% 23 Principal Collections 8/01/2004 8/31/2004 1,319,129,283 211,120 230,398,977 24 Nonprincipal Collections 8/01/2004 8/31/2004 20,116,309 1,053 3,513,891 25 Total Collections 8/01/2004 8/31/2004 1,339,245,592 212,173 233,912,868 26 Express Principal Collections 8/01/2004 8/31/2004 - - - Defaults 27 Defaulted Amount 8/01/2004 8/31/2004 160,365 28 Investor Default Amount 8/01/2004 8/31/2004 - 28,014 Servicing Fee 29 Invested Amount for preceding Period 8/01/2004 514,966,403 30 Servicing Fee Rate 2.00% 31 Series 2004-NTC Monthly Servicing Fee 8/01/2004 8/31/2004 543,576 Excess Servicing 32 Nonprincipal Collections 8/01/2004 8/31/2004 20,116,309 1,053 33 Floating Allocation Percentage 0.43% 17.47% 34 Investor Nonprincipal Collections 8/01/2004 8/31/2004 1,053 3,513,891 35 Plus: Investment Proceeds 8/01/2004 8/31/2004 - 36 Less: Monthly Servicing Fee 9/15/2004 - 543,576 37 Balance: Excess Servicing 8/01/2004 8/31/2004 1,053 2,970,315 Collection Account 38 Beginning Balance 8/16/2004 - 39 Deposits 8/16/2004 9/15/2004 4,121,512 40 Disbursements 8/16/2004 9/15/2004 4,121,512 41 Ending Balance 9/15/2004 - 42 Total Amount Distributed or Applied 9/15/2004 2,970,315 NTC Percentages used for Overcontration Calculations in the GEDFMNT 43 Beginning of Month Percentage 17.81% 44 End of Month Percentage 17.13%

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