RECEIVABLES (Tables)

6 Months Ended

Jun. 30, 2023

A summary of financing receivables as of June 30, 2023 and December 31, 2022 is as follows:


	June 30, 2023		December 31, 2022
	(in millions)
Retail	$	12,212	$	11,446
Wholesale	9,290		7,785
Other	39		29
Total	$	21,541	$	19,260

Summary of Carrying Amount of Restricted Assets

At June 30, 2023 and December 31, 2022, the carrying amount of such restricted assets included in financing receivables above are the following (in millions):


	Restricted Receivables
	June 30, 2023		December 31, 2022
Retail note and finance lease receivables	$	6,581	$	6,766
Wholesale receivables	6,102		4,582
Total	$	12,683	$	11,348

Summary of Aging of Financing Receivables

The aging of financing receivables and charge-offs as of June 30, 2023 is as follows (in millions):


	June 30, 2023
	31-60 Days Past Due		61-90 Days Past Due		Total Past Due		Current		Total Performing		Non- Performing		Total		Charge-offs
Retail
North America
2023									$	1,784	$	1	$	1,785	$	—
2022									2,710		1		2,711		6
2021									1,695		1		1,696		2
2020									774		1		775		2
2019									338		—		338		3
Prior to 2019									169		1		170		3
Total	$	32	$	9	$	41	$	7,429	$	7,470	$	5	$	7,475	$	16
South America
2023									$	1,101	$	1	$	1,102	$	—
2022									1,074		19		1,093		—
2021									646		12		658		—
2020									339		5		344		3
2019									155		3		158		1
Prior to 2019									126		1		127		1
Total	$	105	$	1	$	106	$	3,335	$	3,441	$	41	$	3,482	$	5
Asia Pacific
2023									$	583	$	—	$	583	$	—
2022									352		1		353		—
2021									189		1		190		—
2020									86		1		87		—
2019									22		1		23		—
Prior to 2019									—		—		—		—
Total	$	7	$	8	$	15	$	1,217	$	1,232	$	4	$	1,236	$	—
Europe, Middle East, Africa	$	—	$	—	$	—	$	8	$	8	$	11	$	19	$	—
Total Retail	$	144	$	18	$	162	$	11,989	$	12,151	$	61	$	12,212	$	21
Wholesale
North America	$	—	$	—	$	—	$	4,424	$	4,424	$	—	$	4,424	$	—
South America	1		—		1		1,339		1,340		—		1,340		—
Asia Pacific	—		—		—		622		622		—		622		—
Europe, Middle East, Africa	11		—		11		2,893		2,904		—		2,904		—
Total Wholesale	$	12	$	—	$	12	$	9,278	$	9,290	$	—	$	9,290	$	—

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


	December 31, 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

Summary of Allowance for Credit Loss Activity

Allowance for credit losses (activity) for the three and six months ended June 30, 2023 is as follows (in millions):


	Three Months Ended June 30, 2023
	Retail		Wholesale
Opening Balance	$	264	$	63
Provision	19		(3)
Charge-offs	(10)		—
Recoveries	1		—
Foreign currency translation and other	6		—
Ending Balance	$	280	$	60


	Six Months Ended June 30, 2023
	Retail		Wholesale
Opening Balance	$	270	$	64
Provision	36		(3)
Charge-offs	(21)		—
Recoveries	1		—
Foreign currency translation and other	(6)		(1)
Ending Balance	$	280	$	60

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 year ended December 31, 2022 is as follows (in millions):


	Twelve Months Ended 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