Receivables (Tables)

6 Months Ended

Jun. 30, 2018

Receivables [Abstract]

Summary of Financing Receivables

A summary of financing receivables as of June 30, 2018 and December 31, 2017 is as follows:

	June 30, 2018		December 31, 2017
	(in millions)
Retail	$	9,076	$	9,725
Wholesale		9,804		10,001
Other		77		69
Total	$	18,957	$	19,795

Summary of Aging of Receivables

The aging of financing receivables as of June 30, 2018 and December 31, 2017 is as follows (in millions):

	June 30, 2018
	30-59 Days Past Due		60-90 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Performing		Non- Performing		Total
Retail
NAFTA	$	21	$	8	$	—	$	29	$	6,330	$	6,359	$	15	$	6,374
EMEA		2		2		9		13		231		244		20		264
LATAM		48		1		—		49		1,652		1,701		19		1,720
APAC		1		—		1		2		716		718		—		718
Total Retail	$	72	$	11	$	10	$	93	$	8,929	$	9,022	$	54	$	9,076
Wholesale
NAFTA	$	—	$	—	$	—	$	—	$	3,563	$	3,563	$	25	$	3,588
EMEA		17		11		3		31		5,014		5,045		—		5,045
LATAM		—		—		—		—		513		513		—		513
APAC		3		—		—		3		655		658		—		658
Total Wholesale	$	20	$	11	$	3	$	34	$	9,745	$	9,779	$	25	$	9,804
	December 31, 2017
	30-59 Days Past Due		60-90 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Performing		Non- Performing		Total
Retail
NAFTA	$	26	$	9	$	—	$	35	$	6,671	$	6,706	$	25	$	6,731
EMEA		3		4		4		11		261		272		—		272
LATAM		8		—		—		8		1,851		1,859		40		1,899
APAC		—		—		—		—		823		823		—		823
Total Retail	$	37	$	13	$	4	$	54	$	9,606	$	9,660	$	65	$	9,725
Wholesale
NAFTA	$	—	$	—	$	—	$	—	$	3,651	$	3,651	$	41	$	3,692
EMEA		23		12		4		39		5,061		5,100		9		5,109
LATAM		—		—		—		—		613		613		—		613
APAC		4		—		—		4		583		587		—		587
Total Wholesale	$	27	$	12	$	4	$	43	$	9,908	$	9,951	$	50	$	10,001

Allowance for Credit Losses Activity

Allowance for credit losses activity for the three and six months ended June 30, 2018 and 2017 is as follows:

	Three Months Ended June 30, 2018
	Retail			Wholesale			Other		Total
Opening balance	$	394		$	202		$	—	$	596
Provision		5			4			—		9
Charge-offs, net of recoveries		(26	)		—			—		(26	)
Foreign currency translation and other		(24	)		(13	)		—		(37	)
Ending balance	$	349		$	193		$	—	$	542
	Six Months Ended June 30, 2018
	Retail			Wholesale			Other		Total
Opening Balance	$	383		$	200		$	—	$	583
Provision		25			3			—		28
Charge-offs, net of recoveries		(40	)		(1	)		—		(41	)
Foreign Currency Translation and Other		(19	)		(9	)		—		(28	)
Ending Balance		349			193			—		542
Ending Balance: Individually Evaluated for Impairment		231			161			—		392
Ending Balance: Collectively Evaluated for Impairment		118			32			—		150
Receivables:
Ending Balance		9,076			9,804			77		18,957
Ending Balance: Individually Evaluated for Impairment		338			327			—		665
Ending Balance: Collectively Evaluated for Impairment	$	8,738		$	9,477		$	77	$	18,292

	Three Months Ended June 30, 2017
	Retail			Wholesale			Other		Total
Opening balance	$	371		$	209		$	—	$	580
Provision		16			1			—		17
Charge-offs, net of recoveries		(23	)		(3	)		—		(26	)
Foreign currency translation and other		8			18			—		26
Ending balance	$	372		$	225		$	—	$	597
	Six Months Ended June 30, 2017
	Retail			Wholesale			Other		Total
Opening balance	$	374		$	200		$	—	$	574
Provision		29			7			—		36
Charge-offs, net of recoveries		(42	)		(5	)		—		(47	)
Foreign currency translation and other		11			23			—		34
Ending balance		372			225			—		597
Ending balance: Individually evaluated for impairment		195			172			—		367
Ending balance: Collectively evaluated for impairment		177			53			—		230
Receivables:
Ending balance		9,617			9,208			65		18,890
Ending balance: Individually evaluated for impairment		358			496			—		854
Ending balance: Collectively evaluated for impairment	$	9,259		$	8,712		$	65	$	18,036

Allowance for credit losses activity for the year ended December 31, 2017 is as follows:

	December 31, 2017
	Retail			Wholesale			Other		Total
Opening balance	$	374		$	200		$	—	$	574
Provision		72			11			—		83
Charge-offs, net of recoveries		(103	)		(15	)		—		(118	)
Foreign currency translation and other		40			4			—		44
Ending balance		383			200			—		583
Ending balance: Individually evaluated for impairment		212			164			—		376
Ending balance: Collectively evaluated for impairment		171			36			—		207
Receivables:
Ending balance		9,725			10,001			69		19,795
Ending balance: Individually evaluated for impairment		347			540			—		887
Ending balance: Collectively evaluated for impairment	$	9,378		$	9,461		$	69	$	18,908

Summary of Financing Receivable Impairment

Financing receivables are considered impaired when it is probable that the Company will be unable to collect all amounts due according to the contractual terms. Receivables reviewed for impairment generally include those that are either past due, have provided bankruptcy notification, or require significant collection efforts. Impaired receivables are generally classified as non-performing.

	June 30, 2018								December 31, 2017
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Investment		Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Investment
	(in millions)
With an allowance recorded
Retail
NAFTA	$	32	$	30	$	16	$	33	$	39	$	37	$	18	$	41
EMEA	$	266	$	266	$	191	$	278	$	260	$	260	$	170	$	277
LATAM	$	35	$	35	$	21	$	39	$	45	$	45	$	22	$	32
APAC	$	5	$	5	$	3	$	4	$	3	$	3	$	2	$	2
Wholesale
NAFTA	$	30	$	29	$	4	$	40	$	44	$	44	$	3	$	49
EMEA	$	264	$	264	$	132	$	265	$	457	$	457	$	134	$	443
LATAM	$	25	$	16	$	19	$	27	$	30	$	17	$	21	$	28
APAC	$	8	$	8	$	6	$	9	$	9	$	9	$	6	$	4
Total
Retail	$	338	$	336	$	231	$	354	$	347	$	345	$	212	$	352
Wholesale	$	327	$	317	$	161	$	341	$	540	$	527	$	164	$	524

Carrying Amount of Restricted Assets Included In Financing Receivables

At June 30, 2018 and December 31, 2017, the carrying amount of such restricted assets included in financing receivables above are the following (in millions):

	Restricted Receivables
	June 30, 2018		December 31, 2017
Retail note and finance lease receivables	$	6,488	$	6,833
Wholesale receivables		7,388		7,156
Total	$	13,876	$	13,989