Nordstrom, Inc. Notes to Consolidated Financial Statements Dollar and share amounts in millions except per share, per option and per unit amounts NOTE 3: ACCOUNTS RECEIVABLE 48 Under certain circumstances, we may make modifications to payment terms for a customer experiencing financial difficulties in an effort to  help the customer avoid a charge-off or bankruptcy and to maximize our recovery of the outstanding balance. These modifications, which  meet the accounting definition of troubled debt restructurings (“TDRs”), include reduced or waived fees and finance charges, and/or reduced  minimum payments. Receivables classified as TDRs are as follows: Our credit card receivables are restricted under our securitization program. Our Series 2011-1 Class A Notes are secured by 100% of the  Nordstrom private label credit card receivables and 90% of the Nordstrom Visa credit card receivables. As of January 31, 2015 and  February 1, 2014, our restricted credit card receivables included more receivables than necessary to collateralize our outstanding secured  debt and variable funding facilities. As such, they can be utilized to increase the current usage of our securitization program. Our credit card  securitization agreements set a maximum percentage of receivables that can be associated with various receivable categories, such as  employee or foreign receivables, and as of January 31, 2015 and February 1, 2014, these maximums were not exceeded. Activity in the allowance for credit losses is as follows: 1  Other accounts receivable consist primarily of debit card receivables and third-party credit receivables. The components of accounts receivable are as follows: January 31, 2015 February 1, 2014 Credit card receivables: Nordstrom Visa credit card receivables $1,310 $1,316 Nordstrom private label credit card receivables 974 868 Total credit card receivables 2,284 2,184 Allowance for credit losses (75) (80) Credit card receivables, net 2,209 2,104 Other accounts receivable 1 97 73 Accounts receivable, net $2,306 $2,177 Fiscal year 2014 2013 2012 Allowance at beginning of year $80 $85 $115 Bad debt expense 41 52 42 Write-offs (70) (80) (97) Recoveries 24 23 25 Allowance at end of year $75 $80 $85 January 31, 2015 February 1, 2014 Credit card receivables classified as TDRs $34 $43 Percent of total credit card receivables classified as TDRs 1.5% 2.0%