Receivables (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Schedule of financing receivables

A summary of financing receivables included in the consolidated balance sheets as of December 31, 2022 and 2021 is as follows:

	2022		2021
	(in millions)
Retail	$	11,446	$	9,955
Wholesale	7,785		5,373
Other	29		48
Total	$	19,260	$	15,376

Schedule of maturities of financing receivables

Maturities of financing receivables as of December 31, 2022 are as follows:

	Amount
	(in millions)
2023	$	11,133
2024	2,874
2025	2,243
2026	1,609
2027	940
2028 and thereafter	461
Total	$	19,260

Schedule of carrying amount of restricted assets

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

	2022		2021
Retail	$	6,766	$	6,878
Wholesale	4,582		3,443
Total	$	11,348	$	10,321

Schedule of allowance for credit loss

Allowance for credit losses activity for the year ended December 31, 2022 is as follows (in millions):

	December 31, 2022
	Retail		Wholesale
Opening balance	$	220	$	65
Provision	59		7
Charge-offs, net of recoveries	(17)		(7)
Foreign currency translation and other	8		(1)
Ending balance	$	270	$	64

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

	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

Allowance for credit losses activity for the year ended December 31, 2020 is as follows (in millions):

 

	December 31, 2020
	Retail		Wholesale
Opening balance, as previously reported	$	147	$	71
Adoption of ASC 326	34		(4)
Opening balance, as recast	$	181	$	67
Provision	93		4
Charge-offs, net of recoveries	(31)		(5)
Foreign currency translation and other	(12)		(4)
Ending balance	$	231	$	62

Schedule of aging of receivables

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

	2022
	31-60 Days Past Due		61-90 Days Past Due		Total Past Due		Current		Total Performing		Non- Performing		Total
Retail
North America
2022									$	3,558	$	—	$	3,558
2021									2,035		1		2,036
2020									994		—		994
2019									472		—		472
2018									225		—		225
Prior to 2018									65		—		65
Total	$	42	$	16	$	58	$	7,291	$	7,349	$	1	$	7,350
South America
2022									$	1,179	$	2	$	1,181
2021									725		3		728
2020									408		2		410
2019									207		1		208
2018									116		—		116
Prior to 2018									95		—		95
Total	$	12	$	—	$	12	$	2,718	$	2,730	$	8	$	2,738
Asia Pacific
2022									$	601	$	—	$	601
2021									400		1		401
2020									220		1		221
2019									84		—		84
2018									35		—		35
Prior to 2018									3		—		3
Total	$	8	$	8	$	16	$	1,327	$	1,343	$	2	$	1,345
Europe, Middle East, Africa	$	—	$	—	$	—	$	2	$	2	$	11	$	13
Total Retail	$	62	$	24	$	86	$	11,338	$	11,424	$	22	$	11,446
Wholesale
North America	$	—	$	—	$	—	$	3,378	$	3,378	$	—	$	3,378
South America	—		—		—		1,416		1,416		—		1,416
Asia Pacific	—		—		—		494		494		—		494
Europe, Middle East, Africa	7		2		9		2,488		2,497		—		2,497
Total Wholesale	$	7	$	2	$	9	$	7,776	$	7,785	$	—	$	7,785

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

	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