8-K 1 finnov.txt CDF FINANCING LLC 11/30/2004 8-K December 15, 2004 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 December 15, 2004 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.) 5595 Trillium Boulevard Hoffman Estates, Illinois 60192 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (847) 747-6800 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 Financing, L.L.C., 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 11/30/2004 99.2 Distribution Financial Services Floorplan Master Trust Payment Date Statement Series 2003-1 Reporting for period ending 11/30/2004 99.3 Distribution Financial Services Floorplan Master Trust Payment Date Statement Series 2003-2 Reporting for period ending 11/30/2004 99.4 Distribution Financial Services Floorplan Master Trust Payment Date Statement Series 2004 NTC Reporting for period ending 11/30/04 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 12/15/2004 Collection Period Ending 11/30/2004 Calculation Of Pool Balance 1 Total "Office" Receivables 3,132,605,872 2 Discount Factor 0.50% 3 End of month Pool Balance 3,116,942,843 Total Trust Receivables-Delinquency 4 NSF 1-30 Office 1,314,437 5 SAU 1-30 Office 7,644,629 6 Total 8,959,066 7 Trust Receivables 3,132,605,872 8 .75 % of Trust Receivables 0.75% 9 Total 23,494,544 10 Amount in Excess 0 11 NSF 30+ 553,687 12 SAU 30+ 2,005,064 2,558,751 Overconcentrations 13 End of month Pool Balance 3,116,942,843

EX-2 CDF Financing, L.L.C. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 11/30/04 Collection Period 11/1/04 11/30/04 Determination Date 12/13/04 Distribution Date 12/15/04

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 10/31/04 2,986,843,837 2 Plus: Account Additions 11/01/04 109,089,083 3 Beginning of month Principal Receivables 11/01/04 3,095,932,920 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 11/01/04 3,080,453,255 6 Beginning of month Dealer Overconcentrations 11/01/04 16,727,148 Beginning of month 7 Unconcentrated Pool Balance 11/01/04 3,063,726,107 8 End of month Principal Receivables 11/30/04 3,132,605,872 9 Discount Factor 0.50% 10End of month Pool Balance 11/30/04 3,116,942,843 11End of month Dealer Overconcentrations 11/30/04 31,504,034 12End of month Unconcentrated Pool Balance 11/30/04 3,085,438,809 13Overconcentrated Percentage 11/30/04 1.01% 14Unconcentrated Percentage 11/30/04 98.99% Certificates 15Beginning of month/closing date Invested Amount 11/01/04 16,727,148 1,000,000,000 955,000,000 30,000,000 15,000,000 16Allocation Percentage 11/01/04 0.56% 33.50% 32.00% 1.01% 0.50% 17End of month Invested Amount 11/30/04 37,329,934 1,000,000,000 955,000,000 30,000,000 15,000,000 18Principal Payments Outstanding Principal 12/13/04 - - - - - 19Balance 12/15/04 37,329,934 1,000,000,000 955,000,000 30,000,000 15,000,000 20Pool Factor 12/15/04 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 11/15/04 - 22Determination Date deposit Deposit 12/15/04 23Distribution Date Disbursement 12/15/04 - 24Excess Funding Account Balance 12/15/04 - Reserve Fund 25Required Amount 12/15/04 35,000,000 26Beginning Balance 11/15/04 35,000,000 27Deposits 11/15/04 12/15/04 51,059 28Disbursements 11/15/04 12/15/04 51,059 29Ending Balance 12/15/04 35,000,000 Collections 30Principal Allocation Percentage 11/30/04 1.22% 32.64% 31.17% 0.98% 0.49% 31Floating Allocation Percentage 11/30/04 1.22% 32.64% 31.17% 0.98% 0.49% 32Principal Collections 11/01/04 11/30/04 1,253,293,243 535,883 33Nonprincipal Collectio11/01/04 11/30/04 18,739,978 2,676 34Total Collections 11/01/04 11/30/04 1,272,033,221 538,559 Defaults 35Defaulted Amount 11/01/04 11/30/04 (83,719) 36Investor Default Amoun11/01/04 11/30/04 - (27,326) (26,096) (820) (410) Interest 37Monthly Interest 12/15/04 - 1,864,458 1,750,833 64,250 49,375 38Interest Shortfall 12/15/04 - - - - - 39Additional Interest 12/15/04 - - - - - 40Total 12/15/04 - 1,864,458 1,750,833 64,250 49,375 Servicing Fee 41Certificate Balance for Servicing Fee determination 11/01/04 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 11/01/04 11/30/04 1,666,667 1,591,667 50,000 25,000 44Remaining Servicing Fee 12/15/04 1,666,667 1,591,667 50,000 25,000 Excess Servicing 45Nonprincipal Collectio11/01/04 11/30/04 18,739,978 2,676 46Servicer Advance Less Reimbursement of Servicer Advance 11/01/04 11/30/04 1,419,085 47Floating Allocation Percentage 1.22% 32.64% 31.17% 0.98% 0.49% 48Investor Nonprincipal Collections 11/01/04 11/30/04 2,676 6,116,728 5,841,475 183,502 91,751 49Investor portion of Servicer Advance Less Reimburse11/01/04 11/30/04 - 463,190 442,346 13,896 6,948 50Plus: Investment Proc11/01/04 11/30/04 - 51,309 51Less: 52Monthly Interest 12/15/04 - 1,864,458 1,750,833 64,250 49,375 53Prior Monthly Interest 12/15/04 - - - - - 54Additional Interest 12/15/04 - - - - - 55Reserve Fund Deposit 12/15/04 - - - - - 56Default Amount 11/01/04 11/30/04 - (27,326) (26,096) (820) (410) 57Charge-Offs 11/01/04 11/30/04 - - - - - 58Monthly Servicing Fee 12/15/04 - 1,666,667 1,591,667 50,000 25,000 59Carry-over Amount 12/15/04 - - - - - 60Carry-over Amount 61 Additional Interest 12/15/04 - - - - - 62Balance: Excess Servi11/01/04 11/30/04 2,676 3,127,428 Collection Account 63Beginning Balance 11/15/04 - 64Deposits 11/15/04 12/15/04 2,327,648 65Disbursements 11/15/04 12/15/04 2,327,648 66Ending Balance 12/15/04 - Interest Funding Account 67Beginning Balance 11/15/04 - 68Deposits 11/15/04 12/15/04 1,864,708 69Disbursements 11/15/04 12/15/04 1,864,708 70Ending Balance 12/15/04 - Principal Funding Account 71Beginning Balance 11/15/04 - 72Deposits 11/15/04 12/15/04 - 73Disbursements 11/15/04 12/15/04 - 74Ending Balance 12/15/04 - 75Total Amount Distributed 12/15/04 1,864,458 Interest Rate for the Next Period 76One-month LIBOR 12/15/04 01/17/04 2.40250% 77Net Receivables Rate 11/30/04 5.70602%

CDF Financing, L.L.C. Distribution Financial Services Floorplan Master Trust Payment Date Statement Report Date 11/30/2004 Collection Period 11/01/2004 11/30/2004 Determination Date 12/13/2004 Distribution Date 12/20/2004

CDF FINANCING LLC 8-K