RECEIVABLES (Tables)

9 Months Ended

Sep. 30, 2022

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


	September 30, 2022		December 31, 2021
	(in millions)
Retail	$	10,538	$	9,955
Wholesale	6,335		5,373
Other	28		48
Total	$	16,901	$	15,376

Summary of Aging of Financing Receivables

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


	September 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									$	2,695	$	—	$	2,695
2021									2,271		—		2,271
2020									1,125		—		1,125
2019									550		—		550
2018									290		—		290
Prior to 2018									113		—		113
Total	$	13	$	4	$	17	$	7,027	$	7,044	$	—	$	7,044
South America
2022									$	739	$	1	$	740
2021									726		3		729
2020									412		3		415
2019									213		1		214
2018									122		1		123
Prior to 2018									94		—		94
Total	$	16	$	—	$	16	$	2,290	$	2,306	$	9	$	2,315
Asia Pacific
2022									$	696	$	3	$	699
2021									240		—		240
2020									131		1		132
2019									55		1		56
2018									27		—		27
Prior to 2018									4		—		4
Total	$	8	$	9	$	17	$	1,136	$	1,153	$	5	$	1,158
Europe, Middle East, Africa	$	—	$	—	$	—	$	6	$	6	$	15	$	21
Total Retail	$	37	$	13	$	50	$	10,459	$	10,509	$	29	$	10,538
Wholesale
North America	$	—	$	—	$	—	$	2,818	$	2,818	$	—	$	2,818
South America	—		—		—		1,052		1,052		—		1,052
Asia Pacific	3		2		5		564		569		6		575
Europe, Middle East, Africa	1		3		4		1,886		1,890		—		1,890
Total Wholesale	$	4	$	5	$	9	$	6,320	$	6,329	$	6	$	6,335


	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 nine months ended September 30, 2022 is as follows (in millions):


	Three Months Ended September 30, 2022
	Retail		Wholesale
Opening Balance	$	246	$	61
Provision	15		(3)
Charge-offs, net of recoveries	(4)		(1)
Foreign currency translation and other	(8)		(2)
Ending Balance	$	249	$	55


	Nine Months Ended September 30, 2022
	Retail		Wholesale
Opening Balance	$	220	$	65
Provision	41		—
Charge-offs, net of recoveries	(13)		(6)
Foreign currency translation and other	1		(4)
Ending Balance	$	249	$	55

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


	Three Months Ended September 30, 2021
	Retail		Wholesale
Opening Balance	$	226	$	73
Provision	10		(1)
Charge-offs, net of recoveries	(10)		1
Foreign currency translation and other	(6)		(4)
Ending Balance	$	220	$	69


	Nine Months Ended September 30, 2021
	Retail		Wholesale
Opening Balance	$	231	$	62
Provision	16		3
Charge-offs, net of recoveries	(16)		—
Foreign currency translation and other	(11)		4
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 September 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
	September 30, 2022		December 31, 2021
Retail note and finance lease receivables	$	7,393	$	6,878
Wholesale receivables	4,154		3,443
Total	$	11,547	$	10,321