UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
X ANNUAL REPORT PURSUANT TO SECTION 13 OF THE SECURITIES EXCHANGE
___ ACT OF 1934 FOR THE YEAR ENDED DECEMBER 31, 2001, OR
___ TRANSITION REPORT PURSUANT TO SECTION 13 OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE TRANSITION PERIOD FROM _________ TO __________.
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-1 333-06039
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-2 333-93431
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(Exact name of registrant as Commission file
specified in its charter) number
A Delaware Business Trust 38-3082892
- -------------------------------------------- --------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
c/o Bankers Trust (Delaware)
1011 Centre Road, Suite 200
Wilmington, Delaware 19805
- -------------------------------------------- ---------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 250-6864
--------------
Securities registered pursuant to Section 12(b) of the Act: (None)
Section 12(g) of the Act: (None).
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 of the Securities Exchange Act of 1934 during the
preceding 12 months, and (2) has been subject to such filing requirements for
the past 90 days. Yes X . No .
--- ---
PART I
ITEM 1. BUSINESS
Each Capital Auto Receivables Asset Trust, (the "Trusts") was formed pursuant to
a Trust Agreement, between Capital Auto Receivables, Inc. (the "Seller") and
Bankers Trust (Delaware), as Owner Trustee. The Trusts have issued Asset-Backed
Notes (the "Notes"). The Notes are issued and secured pursuant to Indentures
between the related Trust and Bank One, National Association as Indenture
Trustee. Each Trust has also issued Asset-Backed Certificates. For further
information, refer to the Prospectus Supplements dated January 9, 2001 and June
14, 2001.
CAPITAL AUTO RECEIVABLES ASSET TRUST
---------------------------------------
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-1
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-2
PART II
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
Each of the Trusts was formed pursuant to a Trust Agreement between Capital Auto
Receivables, Inc. (the "Seller") and Bankers Trust (Delaware), as Owner Trustee.
The Trusts issued the following Asset-Backed Notes and Certificates. Each Trust
acquired retail finance receivables from the Seller in the aggregate amount as
shown below in exchange for Asset-Backed Notes and Asset-Backed Certificates
representing undivided equity interests in the respective Trust. Each Trust's
property includes a pool of retail instalment sale contracts secured by new
automobiles and light trucks, certain monies due thereunder, security interests
in the vehicles financed thereby, interest rate swaps and certain other
property.
Retail
Finance
Date of Trust Receivables
Sale and Servicing Aggregate Asset-Backed Asset-Backed
Trust Agreement Amount Notes Certificates
-------------- ----------------------- --------------------- -------------------------- -----------------
(millions) (millions) (millions)
Capital January 17, 2001 $ 3,400.0 Class A-1 $ 617.0 $ 92.4
Auto (Private Placement)
Receivables Class A-2 526.0
Asset Trust Class A-3 429.0
2001-1 Class A-4 471.0
Class A-5 250.6
Variable Pay Revolving
Note 693.0
(Private Placement)
Capital June 26, 2001 $ 2,300.0 Class A-1 $ 447.0 $ 64.6
Auto (Private Placement)
Receivables Class A-2 680.0
Asset Trust Class A-3 385.0
2001-2 Class A-4 150.6
Variable Pay Revolving
Note 425.0
(Private Placement)
General Motors Acceptance Corporation ("GMAC"), the originator of the retail
receivables, continues to service the receivables for the aforementioned Trusts
and receives compensation and fees for such services. Investors receive periodic
payments of principal and interest for each class of Notes and Certificates as
the receivables are liquidated.
--------------------
II-1
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
CROSS REFERENCE SHEET
Exhibit No. Caption Page
- ----------- -------------------------------------------------------------- ----
-- Capital Auto Receivables Asset Trust 2001-1,
Independent Auditors' Report, Financial Statements and II-3
Selected Quarterly Data for the Year Ended December 31, 2001.
-- Capital Auto Receivables Asset Trust 2001-2,
Independent Auditors' Report, Financial Statements and II-9
Selected Quarterly Data for the Year Ended December 31, 2001.
---------------------
II-2
INDEPENDENT AUDITORS' REPORT
The Capital Auto Receivables Asset Trust 2001-1, its Certificateholders, Capital
Auto Receivables, Inc., and Bankers Trust (Delaware), Owner Trustee:
We have audited the accompanying Statement of Assets, Liabilities and Equity of
the Capital Auto Receivables Asset Trust 2001-1 as of December 31, 2001, and the
related Statement of Distributable Income for the period January 17, 2001 (date
of inception) to December 31, 2001. These financial statements are the
responsibility of the Trust's management. Our responsibility is to express an
opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
As described in Note 1 to the financial statements, these financial statements
were prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than accounting principles generally
accepted in the United States of America.
In our opinion, such financial statements present fairly, in all material
respects, the assets, liabilities and equity arising from cash transactions of
the Capital Auto Receivables Asset Trust 2001-1 at December 31, 2001, and its
distributable income for the period January 17, 2001 (date of inception) to
December 31, 2001, on the basis of accounting described in Note 1.
s\ Deloitte & Touche LLP
- ------------------------
Deloitte & Touche LLP
Detroit, Michigan 48243
March 11, 2002
II-3
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-1
STATEMENT OF ASSETS, LIABILITIES AND EQUITY
December 31, 2001
------------------------
(in millions of dollars)
ASSETS
Receivables-(Discounted) (Note 2)................... $ 2,084.4
------------
TOTAL ASSETS........................................ $ 2,084.4
============
LIABILITIES AND EQUITY (Notes 2 AND 3)
Asset-Backed Notes.................................. $ 2,021.9
Asset-Backed Certificates (Equity).................. 62.5
------------
TOTAL LIABILITIES AND EQUITY........................ $ 2,084.4
============
Reference should be made to the Notes to Financial Statements.
II-4
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-1
STATEMENT OF DISTRIBUTABLE INCOME
Year Ended December 31, 2001*
-----------------------------
(in millions of dollars)
Distributable Income
Allocable to Principal
Asset-Backed Notes.......................... $ 964.7
Asset-Backed Certificates (Equity).......... 29.9
--------
Total Principal ............................ $ 994.6
--------
Allocable to Interest
Asset-Backed Notes ......................... $ 112.7
Asset-Backed Certificates (Equity).......... 4.1
--------
Total Interest.............................. $ 116.8
--------
Distributable Income .............................. $1,111.4
========
Income Distributed ................................ $1,111.4
========
*Represents the period January 17, 2001 (inception) through December 31, 2001.
Reference should be made to the Notes to Financial Statements.
II-5
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-1
NOTES TO FINANCIAL STATEMENTS
NOTE 1. BASIS OF ACCOUNTING
The financial statements of Capital Auto Receivables Asset Trust 2001-1 (the
"Trust") are prepared on the basis of cash receipts and cash disbursements. Such
financial statements differ from financial statements prepared in accordance
with accounting principles generally accepted in the United States of America in
that interest income and the related assets are recognized when received rather
than when earned and distributions to Noteholders and Certificateholders are
recognized when paid rather than when the respective obligation is incurred.
Certain expenses of the Trust are paid by Capital Auto Receivables, Inc. (the
"Seller"). Capitalized terms are defined in the prospectus dated January 9,
2001.
The Trust uses interest rate swaps to alter its interest rate exposure. The
swaps are executed as an integral element of a specific investment transaction.
As the Trust's financial statements are prepared on the basis of cash receipts
and cash disbursements, the impact of the interest rate swaps are reflected in
the cash flows shown in the Statement of Distributable Income.
NOTE 2. SALE OF NOTES AND CERTIFICATES
On January 17, 2001, the Trust acquired retail finance receivables aggregating
approximately $3,079.0 million, which included a discount of $321.0 million from
the Seller in exchange for six classes of Asset-Backed Notes representing
indebtedness of the Trust of $617.0 million Class A-1; $526.0 million Class A-2;
$429.0 million Class A-3; $471.0 million Class A-4; $250.6 million Class A-5;
$693.0 million Initial Variable Pay Revolving Note; and $92.4 million of
Asset-Backed Certificates representing equity interests in the Trust. The Trust
property includes a pool of retail instalment sale contracts for new automobiles
and light trucks, monies due or received thereunder, security interests in the
vehicles financed thereby, interest rate swaps and certain other property. The
Servicer has the option to repurchase the remaining receivables as of the last
day of any month on or after which the principal balance declines to 10% or less
of the aggregate amount financed.
NOTE 3: PRINCIPAL AND INTEREST PAYMENTS
Payments of interest on the Class A Notes, the Initial Variable Pay Revolving
Note and the Certificates will be made on the fifteenth day of each month, or,
if any such day is not a Business Day, on the next succeeding Business Day,
commencing February 15, 2001 (each a "Distribution Date"). In general, no
principal payments will be made on any class of the Class A Notes until its
Targeted Final Distribution Date. On the Targeted Final Distribution Date for
each class of Class A Notes, the Trust will pay the entire principal balance of
that class of Class A Notes, to the extent of funds available therefor. On the
Targeted Final Distribution Date for a class of Class A Notes, the proceeds from
any incremental advances under the Variable Pay Revolving Note will also be
available to make principal payments. The Targeted Final Distribution Dates for
the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-5 Notes are as
follows, respectively: July 2001, January 2002, July 2002, January 2003 and
January 2004.
Amounts available to pay principal on the Class A Notes on each Distribution
Date that is not a Targeted Final Distribution Date for a class of Class A Notes
will be applied to make principal payments on the Variable Pay Revolving Note
and distributions of Certificate Balance, pro rata, based on the outstanding
amount of the Notes and Certificates, to the extent of funds available therefor.
Payments of principal on the Variable Pay Revolving Note on the Targeted Final
Distribution Dates for each class of Class A Notes will also be applied to the
extent of funds available therefor. The Final Scheduled Distribution Date for
the Variable Pay Revolving Note will occur on the Distribution Date in July
2006.
II-6
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-1
NOTES TO FINANCIAL STATEMENTS
NOTE 3. PRINCIPAL AND INTEREST PAYMENTS (concluded)
On each Distribution Date, Certificateholders will receive, in respect of the
Certificate Balance, an amount equal to the Certificateholders' Principal
Distributable Amount, a pro rata portion based on the outstanding amount of the
Notes and Certificates, to the extent of funds available therefor. The Final
Scheduled Distribution Date for the Certificates will occur on the Distribution
Date in July 2006.
Interest on the outstanding principal amount of the Notes accrues from January
17, 2001 or from the most recent Distribution Date on which interest has been
paid to but excluding the following Distribution Date. The Class A-1 Note
recieves interest at the rate of 5.46% per annum. The Class A-2 Notes receive
interest at the rate of 5.34% per annum. The Class A-3 Notes receive interest at
the rate of 5.33% per annum. The Class A-4 Notes receive interest at the rate of
one Month London Interbank Offer Rate "LIBOR" plus 0.07% per annum. The Class
A-5 Notes receive interest at the rate of one Month LIBOR plus 0.08% per annum.
The Initial Variable Pay Revolving Note receives interest at the rate of one
Month LIBOR plus 0.11% per annum. Interest on Class A-1 Note, Class A-4 Notes,
Class A-5 Notes and the Initial Variable Pay Revolving Note is calculated on the
basis of actual days elapsed during the period for which interest is payable and
a 360-day year. Interest on Class A-2 Notes and Class A-3 Notes is calculated on
the basis of a 360-day year consisting of twelve 30-day months. On each
Distribution Date, the Owner Trustee distributes pro rata to Certificateholders
accrued interest at the pass-through rate of 5.80% per annum on the outstanding
Certificate Balance and calculated on the basis of a 360-day year consisting of
twelve 30-day months.
The Class A-4 Noteholders, Class A-5 Noteholders and the Initial Variable Pay
Revolving Noteholder received interest at a weighted average rate as follows,
respectively: 4.16% per annum, 4.17% per annum, and 4.25% per annum from January
17, 2001 through December 17, 2001.
On July 16, 2001, the Trust advanced $617.0 million under the Variable Pay
Revolving Note for the full payment of the Class A-1 Note.
NOTE 4. FEDERAL INCOME TAX
The Trust will not be taxable as an association or publicly traded partnership
taxable as a corporation, but will be classified as a partnership for federal
income tax purposes. Each Noteholder, by the acceptance of a Note, agrees to
treat the Notes as indebtedness in the Trust for federal, state and local income
and franchise tax purposes. Each Certificateholder, by the acceptance of a
Certificate, agrees to treat the Certificates as equity interests in the trust
for federal, state, and local income and franchise tax purposes. A portion of
the Certificates were issued to the Seller on the Closing Date.
NOTE 5. SUBSEQUENT EVENTS
On January 15, 2002, the Trust advanced $526.0 million under the Variable Pay
Revolving Note for the full payment of the Class A-2 Notes.
II-7
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-1
SUPPLEMENTARY FINANCIAL DATA (unaudited)
SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME
2001 Quarters Principal Interest Total
---------------------------------- ----------- ---------- ---------
(in millions of dollars)
First quarter*................... $ 172.6 $ 27.2 $ 199.8
Second quarter................... 268.1 37.1 305.2
Third quarter.................... 272.1 30.0 302.1
Fourth quarter................... 281.8 22.5 304.3
------- -------- --------
Total................... $ 994.6 $ 116.8 $1,111.4
======= ========== ========
*Represents the period January 17, 2001 (inception) through March 31, 2001.
II-8
INDEPENDENT AUDITORS' REPORT
The Capital Auto Receivables Asset Trust 2001-2, its Certificateholders, Capital
Auto Receivables, Inc., and Bankers Trust (Delaware), Owner Trustee:
We have audited the accompanying Statement of Assets, Liabilities and Equity of
the Capital Auto Receivables Asset Trust 2001-2 as of December 31, 2001, and the
related Statement of Distributable Income for the period June 26, 2001 (date of
inception) to December 31, 2001. These financial statements are the
responsibility of the Trust's management. Our responsibility is to express an
opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
As described in Note 1 to the financial statements, these financial statements
were prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than accounting principles generally
accepted in the United States of America.
In our opinion, such financial statements present fairly, in all material
respects, the assets, liabilities and equity arising from cash transactions of
the Capital Auto Receivables Asset Trust 2001-2 at December 31, 2001, and its
distributable income for the period June 26, 2001 (date of inception) to
December 31, 2001, on the basis of accounting described in Note 1.
s\ Deloitte & Touche LLP
- ------------------------
Deloitte & Touche LLP
Detroit, Michigan 48243
March 11, 2002
II-9
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-2
STATEMENT OF ASSETS, LIABILITIES AND EQUITY
December 31, 2001
------------------------
(in millions of dollars)
ASSETS
Receivables-(Discounted) (Note 2).................... $ 1,741.3
-------------
TOTAL ASSETS......................................... $ 1,741.3
=============
LIABILITIES AND EQUITY (Notes 2 AND 3)
Asset-Backed Notes................................... $ 1,689.0
Asset-Backed Certificates (Equity)................... 52.3
-------------
TOTAL LIABILITIES AND EQUITY......................... $ 1,741.3
=============
Reference should be made to the Notes to Financial Statements.
II-10
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-2
STATEMENT OF DISTRIBUTABLE INCOME
Year Ended December 31, 2001*
------------------------------
(in millions of dollars)
Distributable Income
Allocable to Principal
Asset-Backed Notes..................... $398.6
Asset-Backed Certificates (Equity)..... 12.3
------
Total Principal ....................... $410.9
------
Allocable to Interest
Asset-Backed Notes .................... $ 33.9
Asset-Backed Certificates (Equity)..... 1.0
------
Total Interest......................... $ 34.9
------
Distributable Income ......................... $445.8
======
Income Distributed ........................... $445.8
======
*Represents the period June 26, 2001 (inception) through December 31, 2001.
Reference should be made to the Notes to Financial Statements.
II-11
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-2
NOTES TO FINANCIAL STATEMENTS
NOTE 1. BASIS OF ACCOUNTING
The financial statements of Capital Auto Receivables Asset Trust 2001-2 (the
"Trust") are prepared on the basis of cash receipts and cash disbursements. Such
financial statements differ from financial statements prepared in accordance
with accounting principles generally accepted in the United States of America in
that interest income and the related assets are recognized when received rather
than when earned and distributions to Noteholders and Certificateholders are
recognized when paid rather than when the respective obligation is incurred.
Certain expenses of the Trust are paid by Capital Auto Receivables, Inc. (the
"Seller"). Capitalized terms are defined in the prospectus dated June 14, 2001.
The Trust uses interest rate swaps to alter its interest rate exposure. The
swaps are executed as an integral element of a specific investment transaction.
As the Trust's financial statements are prepared on the basis of cash receipts
and cash disbursements, the impact of the interest rate swaps are reflected in
the cash flows shown in the Statement of Distributable Income.
NOTE 2. SALE OF NOTES AND CERTIFICATES
On June 26, 2001, the Trust acquired retail finance receivables aggregating
approximately $2,152.2 million, which included a discount of $147.8 million from
the Seller in exchange for five classes of Asset-Backed Notes representing
indebtedness of the Trust of $447.0 million Class A-1; $680.0 million Class A-2;
$385.0 million Class A-3; $150.6 million Class A-4; $425.0 million Initial
Variable Pay Revolving Note; and $64.6 million of Asset-Backed Certificates
representing equity interests in the Trust. The Trust property includes a pool
of retail instalment sale contracts for new automobiles and light trucks, monies
due or received thereunder, security interests in the vehicles financed thereby,
interest rate swaps and certain other property. The Servicer has the option to
repurchase the remaining receivables as of the last day of any month on or after
which the principal balance declines to 10% or less of the aggregate amount
financed.
NOTE 3. PRINCIPAL AND INTEREST PAYMENTS
Payments of interest on the Class A Notes, the Initial Variable Pay Revolving
Note and Certificates will be made on the fifteenth day of each month or, if any
such day is not a Business Day, on the next succeeding Business Day, commencing
July 16, 2001 (each a "Distribution Date"). In general, no principal payments
will be made on any class of Class A Notes until its Targeted Final Distribution
Date. On the Targeted Final Distribution Date for each class of Class A Notes,
the Trust will pay the entire principal balance of that class of Class A Notes,
to the extent of funds available therefor. On the Targeted Final Distribution
Date for a class of Class A Notes, the proceeds from any incremental advances
under the Variable Pay Revolving Note will also be available to make principal
payments. The Targeted Final Distribution Dates for the Class A-1, Class A-2,
Class A-3, and Class A-4 are as follows, respectively: December 2001, June 2002,
June 2003, and June 2004.
Amounts available to pay principal on the Class A Notes on each Distribution
Date that is not a Targeted Final Distribution Date for a class of Class A Notes
will be applied to make principal payments on the Variable Pay Revolving Note
and distributions of Certificate Balance, pro rata, based on the outstanding
amount of the Notes and Certificates, to the extent of funds available therefor.
Payments of principal on the Variable Pay Revolving Note on the Targeted Final
Distribution Dates for each class of Class A Notes will also be applied to the
extent of funds available therefor. The Final Scheduled Distribution Date for
the Variable Pay Revolving Note will occur on the Distribution Date in December
2006.
II-12
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-2
NOTES TO FINANCIAL STATEMENTS
NOTE 3. PRINCIPAL AND INTEREST PAYMENTS (concluded)
On each Distribution Date, Certificateholders will receive, in respect of the
Certificate Balance, an amount equal to the Certificateholders' Principal
Distributable Amount, a pro rata portion based on the outstanding amount of the
Notes and Certificates, to the extent of funds available therefor. The Final
Scheduled Distribution Date for the Certificates will occur on the Distribution
Date in December 2006.
Interest on the outstanding principal amount of the Notes accrues from June 26,
2001 or from the most recent Distribution Date on which interest has been paid
to but excluding the following Distribution Date. The Class A-1 Note receives
interest at the rate of one Month London Interbank Offer Rate "LIBOR" plus 0.06%
per annum. The Class A-2 Notes receive interest at the rate of one Month LIBOR
plus 0.04% per annum. The Class A-3 Notes receive interest at the rate of 4.60%
per annum. The Class A-4 Notes receive interest at the rate of 5.00% per annum.
The Initial Variable Pay Revolving Note receives interest at the rate of one
Month LIBOR plus 0.11% per annum. Interest on Class A-1 Note, Class A-2 Notes
and the Initial Variable Pay Revolving Note is calculated on the basis of actual
days elapsed during the period for which interest is payable and a 360-day year.
Interest on Class A-3 Notes and Class A-4 Notes is calculated on the basis of a
360-day year consisting of twelve 30-day months. On each Distribution Date, the
Owner Trustee distributes pro rata to Certificateholders accrued interest at the
pass-through rate of one Month LIBOR plus 0.35% per annum on the outstanding
Certificate Balance and calculated on the basis of actual days elapsed during
the period for which interest is payable and a 360-day year.
The Class A-1 Noteholder, Class A-2 Noteholders, Initial Variable Pay Revolving
Noteholder and Certificateholders received interest at a weighted average rate
as follows, respectively: 3.24% per annum, 3.22% per annum, 3.56% per annum, and
3.57% per annum from June 26, 2001 through December 17, 2001
On December 17, 2001, the Trust advanced $447.0 million under the Variable Pay
Revolving Note for the full payment of the Class A-1 Note.
NOTE 4. FEDERAL INCOME TAX
The Trust will not be taxable as an association or publicly traded partnership
taxable as a corporation, but will be classified as a partnership for federal
income tax purposes. Each Noteholder, by the acceptance of a Note, agrees to
treat the Notes as indebtedness in the Trust for federal, state and local income
and franchise tax purposes. Each Certificateholder, by the acceptance of a
Certificate, agrees to treat the Certificates as equity interests in the trust
for federal, state and local income and franchise tax purposes. A portion of the
Certificates were issued to the Seller on the Closing Date.
II-13
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-2
SUPPLEMENTARY FINANCIAL DATA (unaudited)
SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME
2001 Quarters Principal Interest Total
----------------------------------- ----------- ---------- ----------
(in millions of dollars)
First quarter................... $ 0.0 $ 0.0 $ 0.0
Second quarter.................. 0.0 0.0 0.0
Third quarter*.................. 201.1 19.2 220.3
Fourth quarter.................. 209.8 15.7 225.5
------- ------- --------
Total.................. $ 410.9 $ 34.9 $ 445.8
======= ======= ========
*Represents the period June 26, 2001 (inception) through September 30, 2001.
II-14
PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8K
(a) (1) FINANCIAL STATEMENTS.
Included in Part II, Item 8, of Form 10-K.
(a) (2) FINANCIAL STATEMENT SCHEDULES.
All schedules have been omitted because they are not applicable or
because the information called for is shown in the financial statements
or notes thereto.
(a) (3) EXHIBITS (Included in Part II of this report).
-- Capital Auto Receivables Asset Trust 2001-1, Financial
Statements for the period January 17, 2001 (inception) through
December 31, 2001.
-- Capital Auto Receivables Asset Trust 2001-2, Financial
Statements for the period June 26, 2001 (inception) through
December 31, 2001.
(b) REPORTS ON FORM 8-K.
No reports on Form 8-K have been filed by Capital Auto
Receivables Asset Trust 2001-1 or Capital Auto Receivables
Asset Trust 2001-2 during the fourth Quarter ended December
31,2001.
ITEMS 2, 3, 4, 5, 6, 9, 10, 11, 12 and 13 are not applicable and have been
omitted.
II-15
SIGNATURE
Pursuant to the requirements of Section 13 of the Securities Exchange Act of
1934, the Owner Trustee has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-1
CAPITAL AUTO RECEIVABLES ASSET TRUST 2001-2
by: Bankers Trust (Delaware)
----------------------------------------
(Owner Trustee, not in its individual
capacity but solely as Owner Trustee
on behalf of the Issuer.)
s\ JENNA KAUFMAN
---------------------------------------
(Jenna Kaufman, Vice President)
Date: March 28, 2002
--------------