Finance Receivables, Net (Tables)

6 Months Ended

Jun. 30, 2025

Receivables [Abstract]

Schedule of Finance Receivables

Finance receivables, net were as follows:

	June 30, 2025		December 31, 2024
Gross receivables	$	1,905	$	2,032
Unearned income	(230)		(230)
Subtotal	1,675		1,802
Residual values	—		—
Allowance for doubtful accounts	(55)		(57)
Finance receivables, net	1,620		1,745
Less: Billed portion of finance receivables, net	46		48
Less: Current portion of finance receivables not billed, net	584		608
Finance receivables due after one year, net	$	990	$	1,089

Schedule of Allowance for Credit Losses, Financing Receivables

The allowance for doubtful credit losses as well as the related investment in finance receivables were as follows:

	United States		Canada		EMEA		Total
Balance at December 31, 2024	$	29	$	5	$	23	$	57
Provision	(1)		1		5		5
Charge-offs, net	(3)		(1)		(6)		(10)
Other(1)	—		—		1		1
Balance at March 31, 2025	$	25	$	5	$	23	$	53
Provision	5		—		3		8
Charge-offs	(3)		—		(4)		(7)
Other(1)	(1)		1		$	1	1
Balance at June 30, 2025	$	26	$	6	$	23	$	55
Balance at December 31, 2023	$	58	$	7	$	27	$	92
Provision	(3)		5		6		8
Charge-offs, net	(7)		(1)		(4)		(12)
Other(1)	1		—		(1)		—
Balance at March 31, 2024	$	49	$	11	$	28	$	88
Provision	—		1		4		5
Charge-offs	(6)		(5)		(3)		(14)
Other(1)	—		—		—		—
Balance at June 30, 2024	$	43	$	7	$	29	$	79
Finance receivables collectively evaluated for impairment
June 30, 2025(2)	$	640	$	142	$	893	$	1,675
June 30, 2024(2)	$	898	$	233	$	1,008	$	2,139

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(1)Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations.

(2)Total Finance receivables exclude the allowance for credit losses of $55 and $79 at June 30, 2025 and 2024, respectively.

Schedule of Credit Quality Indicators for Financing Receivables

Details about our finance receivables portfolio based on geography, origination year and credit quality indicators are as follows:

	June 30, 2025
	2025		2024		2023		2022		2021		Prior		Total Finance Receivables
United States (Direct)
Low Credit Risk	$	50	$	71	$	58	$	25	$	14	$	4	$	222
Average Credit Risk	23		36		50		18		20		4		151
High Credit Risk	11		24		21		18		9		5		88
Total	$	84	$	131	$	129	$	61	$	43	$	13	$	461
Charge-offs	$	—	$	—	$	1	$	—	$	1	$	1	$	3
United States (Indirect)
Low Credit Risk	$	2	$	4	$	13	$	21	$	10	$	1	$	51
Average Credit Risk	3		8		32		33		11		2		89
High Credit Risk	1		10		15		7		5		1		39
Total	$	6	$	22	$	60	$	61	$	26	$	4	$	179
Charge-offs	$	—	$	—	$	3	$	2	$	1	$	1	$	7
Canada
Low Credit Risk	$	17	$	24	$	14	$	5	$	3	$	—	$	63
Average Credit Risk	18		24		13		8		3		1		67
High Credit Risk	3		4		2		1		1		1		12
Total	$	38	$	52	$	29	$	14	$	7	$	2	$	142
Charge-offs	$	—	$	1	$	—	$	—	$	—	$	—	$	1
EMEA
Low Credit Risk	$	66	$	128	$	157	$	94	$	37	$	12	$	494
Average Credit Risk	33		73		122		81		32		14		355
High Credit Risk	4		9		13		11		5		2		44
Total	$	103	$	210	$	292	$	186	$	74	$	28	$	893
Charge-offs	$	3	$	1	$	4	$	4	$	—	$	—	$	12
Total Finance Receivables
Low Credit Risk	$	135	$	227	$	242	$	145	$	64	$	17	$	830
Average Credit Risk	77		141		217		140		66		21		662
High Credit Risk	19		47		51		37		20		9		183
Total	$	231	$	415	$	510	$	322	$	150	$	47	$	1,675
Total Charge-offs	$	3	$	2	$	8	$	6	$	2	$	2	$	23

	December 31, 2024
	2024		2023		2022		2021		2020		Prior		Total Finance Receivables
United States (Direct)
Low Credit Risk	$	93	$	69	$	34	$	23	$	10	$	1	$	230
Average Credit Risk	51		61		23		27		9		2		173
High Credit Risk	28		24		23		14		7		3		99
Total	$	172	$	154	$	80	$	64	$	26	$	6	$	502
Charge-offs	$	1	$	—	$	1	$	1	$	2	$	2	$	7
United States (Indirect)
Low Credit Risk	$	40	$	48	$	25	$	13	$	3	$	—	$	129
Average Credit Risk	29		42		22		11		3		—		107
High Credit Risk	3		5		2		1		—		—		11
Total	$	72	$	95	$	49	$	25	$	6	$	—	$	247
Charge-offs	$	1	$	7	$	3	$	4	$	2	$	4	$	21
Canada
Low Credit Risk	$	33	$	18	$	7	$	5	$	1	$	—	$	64
Average Credit Risk	32		17		11		5		2		1		68
High Credit Risk	5		2		2		2		1		—		12
Total	$	70	$	37	$	20	$	12	$	4	$	1	$	144
Charge-offs	$	—	$	9	$	1	$	—	$	—	$	1	$	11
EMEA
Low Credit Risk	$	131	$	175	$	116	$	55	$	20	$	3	$	500
Average Credit Risk	75		130		92		45		19		5		366
High Credit Risk	8		14		11		6		3		1		43
Total	$	214	$	319	$	219	$	106	$	42	$	9	$	909
Charge-offs	$	—	$	7	$	6	$	3	$	1	$	—	$	17
Total Finance Receivables
Low Credit Risk	$	297	$	310	$	182	$	96	$	34	$	4	$	923
Average Credit Risk	187		250		148		88		33		8		714
High Credit Risk	44		45		38		23		11		4		165
Total	$	528	$	605	$	368	$	207	$	78	$	16	$	1,802
Total Charge-offs	$	2	$	23	$	11	$	8	$	5	$	7	$	56

Schedule of Aging of Billed Finance Receivables

The aging of our billed finance receivables is as follows:

	June 30, 2025
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed		Unbilled		Total Finance Receivables		>90 Days and Accruing
Direct	$	17	$	4	$	4	$	25	$	436	$	461	$	32
Indirect	3		3		4		10		169		179		—
Total United States	20		7		8		35		605		640		32
Canada	4		1		1		6		136		142		6
EMEA	5		2		1		8		885		893		16
Total	$	29	$	10	$	10	$	49	$	1,626	$	1,675	$	54
	December 31, 2024
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed		Unbilled		Total Finance Receivables		>90 Days and Accruing
Direct	$	19	$	5	$	4	$	28	$	474	$	502	$	35
Indirect	6		1		1		8		239		247		—
Total United States	25		6		5		36		713		749		35
Canada	5		1		1		7		137		144		5
EMEA	5		1		1		7		902		909		15
Total	$	35	$	8	$	7	$	50	$	1,752	$	1,802	$	55

Schedule of Financing Receivable Sale Activity

Finance receivable sales activity was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Finance receivable sales - net proceeds(1)	$	36	$	192	$	111	$	377
Gain on sale/Commissions(2)	4		8		9		14
Servicing revenue(2)	$	1	$	5	$	3	$	7

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(1)Cash proceeds are reported in Net cash provided by operating activities.

(2)Recorded in Services, maintenance and rentals as Other Revenue. Amounts include revenues associated with the sale of the underlying leased equipment.