RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2022

A summary of financing receivables as of March 31, 2022 and December 31, 2021 is as follows:


	March 31, 2022		December 31, 2021
	(in millions)
Retail	$	10,427	$	9,955
Wholesale	5,621		5,373
Other	35		48
Total	$	16,083	$	15,376

Summary of Aging of Financing Receivables

The aging of financing receivables as of March 31, 2022 and December 31, 2021 is as follows (in millions):


	March 31, 2022
	31-60 Days Past Due		61-90 Days Past Due		Total Past Due		Current		Total Performing		Non- Performing		Total
Retail
North America
2021									$	794	$	—	$	794
2020									2,949		—		2,949
2019									1,489		—		1,489
2018									772		—		772
2017									445		—		445
Prior to 2017									224		—		224
Total	$	12	$	—	$	12	$	6,661	$	6,673	$	—	$	6,673
South America
2021									$	234	$	—	$	234
2020									981		—		981
2019									578		—		578
2018									325		—		325
2017									206		—		206
Prior to 2017									201		—		201
Total	$	15	$	—	$	15	$	2,510	$	2,525	$	—	$	2,525
Asia Pacific
2021									$	137	$	—	$	137
2020									506		1		507
2019									310		1		311
2018									139		1		140
2017									72		1		73
Prior to 2017									25		—		25
Total	$	12	$	11	$	23	$	1,166	$	1,189	$	4	$	1,193
Europe, Middle East, Africa	$	—	$	—	$	—	$	36	$	36	$	—	$	36
Total Retail	$	39	$	11	$	50	$	10,373	$	10,423	$	4	$	10,427
Wholesale
North America	$	—	$	—	$	—	$	2,423	$	2,423	$	3	$	2,426
South America	—		—		—		902		902		—		902
Asia Pacific	4		7		11		440		451		—		451
Europe, Middle East, Africa	3		—		3		1,839		1,842		—		1,842
Total Wholesale	$	7	$	7	$	14	$	5,604	$	5,618	$	3	$	5,621


	December 31, 2021
	31-60 Days Past Due		61-90 Days Past Due		Total Past Due		Current		Total Performing		Non- Performing		Total
Retail
North America
2021									$	3,159	$	—	$	3,159
2020									1,688		1		1,689
2019									901		1		902
2018									531		—		531
2017									229		—		229
Prior to 2017									73		—		73
Total	$	13	$	—	$	13	$	6,568	$	6,581	$	2	$	6,583
South America
2021									$	881	$	—	$	881
2020									524		—		524
2019									295		—		295
2018									190		—		190
2017									105		—		105
Prior to 2017									72		—		72
Total	$	1	$	—	$	1	$	2,066	$	2,067	$	—	$	2,067
Asia Pacific
2021									$	579	$	—	$	579
2020									357		4		361
2019									167		1		168
2018									99		1		100
2017									45		—		45
Prior to 2017									5		—		5
Total	$	10	$	8	$	18	$	1,234	$	1,252	$	6	$	1,258
Europe, Middle East, Africa	$	4	$	—	$	4	$	43	$	47	$	—	$	47
Total Retail	$	28	$	8	$	36	$	9,911	$	9,947	$	8	$	9,955
Wholesale
North America	$	—	$	—	$	—	$	2,339	$	2,339	$	—	$	2,339
South America	—		—		—		633		633		22		655
Asia Pacific	2		1		3		446		449		—		449
Europe, Middle East, Africa	5		1		6		1,924		1,930		—		1,930
Total Wholesale	$	7	$	2	$	9	$	5,342	$	5,351	$	22	$	5,373

Summary of Allowance for Credit Loss Activity

Allowance for credit losses (activity) for the three months ended March 31, 2022 is as follows (in millions):


	Three Months Ended March 31, 2022
	Retail		Wholesale
Opening Balance	$	220	$	65
Provision	12		7
Charge-offs, net of recoveries	(1)		—
Foreign currency translation and other	13		2
Ending Balance	$	244	$	74

Allowance for credit losses activity for the three months ended March 31, 2021 and for the year ended December 31, 2021 is as follows (in millions):


	Three Months Ended March 31, 2021
	Retail		Wholesale
Opening Balance	$	231	$	62
Provision	5		4
Charge-offs, net of recoveries	(3)		—
Foreign currency translation and other	(13)		3
Ending Balance	$	220	$	69


	Twelve Months Ended December 31, 2021
	Retail		Wholesale
Opening Balance	231		62
Provision	22		6
Charge-offs, net of recoveries	(22)		1
Foreign currency translation and other	(11)		(4)
Ending Balance	$	220	$	65

Summary of Carrying Amount of Restricted Assets

At March 31, 2022 and December 31, 2021, the carrying amount of such restricted assets included in financing receivables above are the following (in millions):


	Restricted Receivables
	March 31, 2022		December 31, 2021
Retail note and finance lease receivables	$	6,436	$	6,878
Wholesale receivables	3,730		3,443
Total	$	10,166	$	10,321