Loans and finance receivables are summarized as follows (in millions).


	March 31, 2025			December 31, 2024
Loans and finance receivables, before allowances and discounts	$	30,186		$	29,700
Allowances for credit losses		(1,276	)		(1,134	)
Unamortized acquisition discounts and points		(779	)		(768	)
	$	28,131		$	27,798

Loans and finance receivables are principally manufactured home loans, and to a lesser extent, commercial loans and site-built home loans. Reconciliations of the allowance for credit losses on loans and finance receivables follow (in millions).


	2025			2024
Balance at the beginning of the year	$	1,134		$	950
Provision for credit losses		183			39
Charge-offs, net of recoveries		(41	)		(16	)
Balance at March 31	$	1,276		$	973

As of March 31, 2025, substantially all manufactured and site-built home loans were evaluated collectively for impairment, and we considered approximately 97% of these loans to be current as to payment status. A summary of performing and non-performing home loans before discounts and allowances by year of loan origination as of March 31, 2025 follows (in millions).


	Origination Year
	2025		2024		2023		2022		2021		Prior		Total
Performing	$	1,829	$	5,764	$	4,857	$	3,579	$	2,980	$	10,204	$	29,213
Non-performing		1		11		25		18		19		70		144
	$	1,830	$	5,775	$	4,882	$	3,597	$	2,999	$	10,274	$	29,357