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RECEIVABLES (Tables)
 9 Months Ended
Sep. 30, 2023
Receivables [Abstract]  
Summary of Financing Receivables
A summary of financing receivables as of September 30, 2023 and December 31, 2022 is as follows (in millions of dollars):
September 30, 2023December 31, 2022
Retail$12,826 $11,446 
Wholesale9,379 7,785 
Other35 29 
Total$22,240 $19,260 
Summary of Carrying Amount of Restricted Assets At September 30, 2023 and December 31, 2022, the carrying amount of such restricted assets included in financing receivables are the following (in millions of dollars):
Restricted Receivables
September 30, 2023December 31, 2022
Retail note and finance lease receivables$7,117 $6,766 
Wholesale receivables5,953 4,582 
Total$13,070 $11,348 
Summary of Aging of Financing Receivables
The aging of financing receivables and charge-offs as of September 30, 2023 is as follows (in millions of dollars):
31-60 Days
Past Due		61-90 Days
Past Due		Total Past
Due		CurrentTotal
Performing		Non-
Performing		TotalCharge-offs
Retail
North America
2023$2,824 $2 $2,826 $— 
20222,444 2 2,446 8 
20211,516 2 1,518 3 
2020672 1 673 3 
2019275 1 276 3 
Prior to 2019118 1 119 2 
Total$38 $9 $47 $7,802 $7,849 $9 $7,858 $19 
South America
2023$1,572 $4 $1,576 $— 
2022934 34 968 — 
2021576 17 593 1 
2020303 7 310 4 
2019126 3 129 — 
Prior to 2019105 2 107 1 
Total$34 $2 $36 $3,580 $3,616 $67 $3,683 $6 
Asia Pacific
2023$543 $1 $544 $— 
2022381 1 382 — 
2021216 2 218 — 
202094 1 95 — 
201926 1 27 — 
Prior to 20193 — 3 — 
Total$6 $7 $13 $1,250 $1,263 $6 $1,269 $— 
Europe, Middle East, Africa$— $— $— $6 $6 $10 $16 $— 
Total Retail$78 $18 $96 $12,638 $12,734 $92 $12,826 $25 
Wholesale
North America$— $— $— $4,825 $4,825 $— $4,825 $— 
South America1 — 1 1,366 1,367 — 1,367 — 
Asia Pacific4 1 5 779 784 — 784 1 
Europe, Middle East, Africa5 — 5 2,398 2,403 — 2,403 — 
Total Wholesale$10 $1 $11 $9,368 $9,379 $— $9,379 $1 
The aging of financing receivables as of December 31, 2022 is as follows (in millions of dollars):
31-60 Days
Past Due		61-90 Days
Past Due		Total Past
Due		CurrentTotal
Performing		Non-
Performing		Total
Retail
North America
2022$3,558 $— $3,558 
20212,035 1 2,036 
2020994 — 994 
2019472 — 472 
2018225 — 225 
Prior to 201865 — 65 
Total$42 $16 $58 $7,291 $7,349 $1 $7,350 
South America
2022$1,179 $2 $1,181 
2021725 3 728 
2020408 2 410 
2019207 1 208 
2018116 — 116 
Prior to 201895 — 95 
Total$12 $— $12 $2,718 $2,730 $8 $2,738 
Asia Pacific
2022$601 $— $601 
2021400 1 401 
2020220 1 221 
201984 — 84 
201835 — 35 
Prior to 20183 — 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, Africa7 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 for the three and nine months ended September 30, 2023 is as follows (in millions of dollars):
Three Months Ended September 30, 2023Nine Months Ended September 30, 2023
RetailWholesaleRetailWholesale
Opening Balance$280 $60 $270 $64 
Provision31 (3)67 (6)
Charge-offs(4)(1)(25)(1)
Recoveries— — 1 — 
Foreign currency translation and other(6)— (12)(1)
Ending Balance$301 $56 $301 $56 
Allowance for credit losses for the three and nine months ended September 30, 2022 is as follows (in millions of dollars):
Three Months Ended September 30, 2022Nine Months Ended September 30, 2022
Retail Wholesale RetailWholesale
Opening Balance$246 $61 $220 $65 
Provision15 (3)41 — 
Charge-offs, net of recoveries(4)(1)(13)(6)
Foreign currency translation and other(8)(2)1 (4)
Ending Balance$249 $55 $249 $55