RECEIVABLES (Tables)

6 Months Ended

Jun. 30, 2022

A summary of financing receivables as of June 30, 2022 and December 31, 2021 is as follows:


	June 30, 2022		December 31, 2021
	(in millions)
Retail	$	10,255	$	9,955
Wholesale	6,249		5,373
Other	33		48
Total	$	16,537	$	15,376

Summary of Aging of Financing Receivables

The aging of financing receivables as of June 30, 2022 and December 31, 2021 is as follows (in millions):


	June 30, 2022
	31-60 Days Past Due		61-90 Days Past Due		Total Past Due		Current		Total Performing		Non- Performing		Total
Retail
North America
2022									$	1,782	$	—	$	1,782
2021									2,614		—		2,614
2020									1,316		—		1,316
2019									667		—		667
2018									369		—		369
Prior to 2018									167		1		168
Total	$	19	$	—	$	19	$	6,896	$	6,915	$	1	$	6,916
South America
2022									$	428	$	—	$	428
2021									798		1		799
2020									452		1		453
2019									241		1		242
2018									142		1		143
Prior to 2018									104		—		104
Total	$	34	$	—	$	34	$	2,131	$	2,165	$	4	$	2,169
Asia Pacific
2022									$	284	$	—	$	284
2021									428		1		429
2020									253		2		255
2019									108		1		109
2018									54		1		55
Prior to 2018									13		—		13
Total	$	8	$	10	$	18	$	1,122	$	1,140	$	5	$	1,145
Europe, Middle East, Africa	$	—	$	—	$	—	$	8	$	8	$	17	$	25
Total Retail	$	61	$	10	$	71	$	10,157	$	10,228	$	27	$	10,255
Wholesale
North America	$	—	$	—	$	—	$	2,699	$	2,699	$	—	$	2,699
South America	—		—		—		962		962		—		962
Asia Pacific	3		1		4		477		481		6		487
Europe, Middle East, Africa	5		—		5		2,096		2,101		—		2,101
Total Wholesale	$	8	$	1	$	9	$	6,234	$	6,243	$	6	$	6,249


	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 and six months ended June 30, 2022 is as follows (in millions):


	Three Months Ended June 30, 2022
	Retail		Wholesale
Opening Balance	$	244	$	74
Provision	14		(4)
Charge-offs, net of recoveries	(8)		(5)
Foreign currency translation and other	(4)		(4)
Ending Balance	$	246	$	61


	Six Months Ended June 30, 2022
	Retail		Wholesale
Opening Balance	$	220	$	65
Provision	26		3
Charge-offs, net of recoveries	(9)		(5)
Foreign currency translation and other	9		(2)
Ending Balance	$	246	$	61

Allowance for credit losses activity for the three and six months ended June 30, 2021 and for the year ended December 31, 2021 is as follows (in millions):


	Three Months Ended June 30, 2021
	Retail		Wholesale
Opening Balance	$	220	$	69
Provision	1		—
Charge-offs, net of recoveries	(3)		(1)
Foreign currency translation and other	8		5
Ending Balance	$	226	$	73


	Six Months Ended June 30, 2021
	Retail		Wholesale
Opening Balance	$	231	$	62
Provision	6		4
Charge-offs, net of recoveries	(6)		(1)
Foreign currency translation and other	(5)		8
Ending Balance	$	226	$	73


	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 June 30, 2022 and December 31, 2021, the carrying amount of such restricted assets included in financing receivables above are the following (in millions):


	Restricted Receivables
	June 30, 2022		December 31, 2021
Retail note and finance lease receivables	$	6,972	$	6,878
Wholesale receivables	3,921		3,443
Total	$	10,893	$	10,321