Receivables (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Schedule of financing receivables

A summary of financing receivables included in the consolidated balance sheets as of December 31, 2019 and 2018 is as follows:

	2019		2018
	(in millions)
Retail	$	9,218	$	9,350
Wholesale	10,081		9,749
Other	129		68
Total	$	19,428	$	19,167

Schedule of maturities of financing receivables

Contractual maturities of financing receivables as of December 31, 2019 are as follows:

	Amount
	(in millions)
2020	$	12,608
2021	2,247
2022	1,918
2023	1,410
2024	1,019
2025 and thereafter	226
Total	$	19,428

Schedule of aging of receivables

The aging of financing receivables as of December 31, 2019 and 2018 is as follows (in millions):

	2019
	31-60 Days Past Due		61-90 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Performing		Non Performing		Total
Retail
North America	$	24	$	4	$	—	$	28	$	6,123	$	6,151	$	16	$	6,167
Europe	—		—		—		—		136		136		—		136
South America	9		2		6		17		1,974		1,991		18		2,009
Rest of World	3		1		2		6		900		906		—		906
Total Retail	$	36	$	7	$	8	$	51	$	9,133	$	9,184	$	34	$	9,218
Wholesale
North America	$	—	$	—	$	—	$	—	$	3,641	$	3,641	$	26	$	3,667
Europe	24		9		7		40		4,857		4,897		—		4,897
South America	2		—		1		3		829		832		55		887
Rest of World	5		3		$	6	14		616		630		—		630
Total Wholesale	$	31	$	12	$	14	$	57	$	9,943	$	10,000	$	81	$	10,081

	2018
	31-60 Days Past Due		61-90 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Performing		Non Performing		Total
Retail
North America	$	21	$	5	$	—	$	26	$	6,285	$	6,311	$	12	$	6,323
Europe	1		—		10		11		164		175		40		215
South America	11		9		7		27		1,885		1,912		83		1,995
Rest of World	2		1		—		3		814		817		—		817
Total Retail	$	35	$	15	$	17	$	67	$	9,148	$	9,215	$	135	$	9,350
Wholesale
North America	$	—	$	—	$	—	$	—	$	3,613	$	3,613	$	18	$	3,631
Europe	20		9		—		29		4,727		4,756		—		4,756
South America	—		—		—		—		656		656		—		656
Rest of World	7		3		—		10		696		706		—		706
Total Wholesale	$	27	$	12	$	—	$	39	$	9,692	$	9,731	$	18	$	9,749

Schedule of allowance for credit loss

Allowance for credit losses activity for the three years ended December 31, 2019, 2018 and 2017 is as follows (in millions):

	December 31, 2019
	Retail			Wholesale
Opening balance	$	326		$	164
Provision	44			12
Charge-offs, net of recoveries	(51		)	(18		)
Foreign currency translation and other	(20		)	1
Ending balance	299			159
Ending balance: Individually evaluated for impairment	194			125
Ending balance: Collectively evaluated for impairment	105			34
Receivables:
Ending balance	9,218			10,081
Ending balance: Individually evaluated for impairment	326			278
Ending balance: Collectively evaluated for impairment	$	8,892		$	9,803

	December 31, 2018
	Retail			Wholesale
Opening balance	$	383		$	200
Provision	53			(5		)
Charge-offs, net of recoveries	(85		)	(15		)
Foreign currency translation and other	(25		)	(16		)
Ending balance	326			164
Ending balance: Individually evaluated for impairment	204			135
Ending balance: Collectively evaluated for impairment	122			29
Receivables:
Ending balance	9,350			9,749
Ending balance: Individually evaluated for impairment	359			314
Ending balance: Collectively evaluated for impairment	$	8,991		$	9,435

	December 31, 2017
	Retail			Wholesale
Opening balance	$	374		$	200
Provision	72			11
Charge-offs, net of recoveries	(103		)	(15		)
Foreign currency translation and other	40			4
Ending balance	383			200
Ending balance: Individually evaluated for impairment	212			164
Ending balance: Collectively evaluated for impairment	171			36
Receivables:
Ending balance	9,725			10,001
Ending balance: Individually evaluated for impairment	347			540
Ending balance: Collectively evaluated for impairment	$	9,378		$	9,461

Schedule of financing receivable impairment

Financing receivables are considered impaired when it is probable 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.

	2019								2018
	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
North America	$	40	$	38	$	21	$	41	$	31	$	30	$	16	$	33
Europe	$	199	$	199	$	148	$	214	$	234	$	234	$	167	$	249
South America	$	80	$	80	$	22	$	86	$	91	$	91	$	20	$	88
Rest of World	$	7	$	7	$	3	$	4	$	3	$	3	$	1	$	4
Wholesale
North America	$	29	$	29	$	3	$	37	$	25	$	23	$	5	$	27
Europe	$	226	$	226	$	94	$	224	$	256	$	256	$	107	$	260
South America	$	19	$	11	$	16	$	22	$	23	$	14	$	16	$	26
Rest of World	$	4	$	4	$	12	$	7	$	10	$	10	$	7	$	9
Total
Retail	$	326	$	324	$	194	$	345	$	359	$	358	$	204	$	374
Wholesale	$	278	$	270	$	125	$	290	$	314	$	303	$	135	$	322

Schedule of carrying amount of restricted assets

At December 31, 2019 and 2018, the carrying amount of such restricted receivables included in financing receivables above are the following (in millions):

	2019		2018
Retail note and finance lease receivables	$	6,340	$	6,371
Wholesale receivables	7,266		7,052
Total	$	13,606	$	13,423