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Receivables (Tables)
 12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
Schedule of financing receivables
A summary of financing receivables included in the consolidated balance sheets as of December 31, 2023 and 2022 is as follows:
(in millions of dollars)
20232022
Retail$13,868 $11,446 
Wholesale10,334 7,785 
Other47 29 
Total$24,249 $19,260 
Schedule of maturities of financing receivables
Maturities of financing receivables as of December 31, 2023 are as follows:
(in millions of dollars)
Amount
2024$14,852 
20253,363 
20262,657 
20271,900 
20281,086 
2029 and thereafter391 
Total$24,249 
Schedule of carrying amount of restricted assets At December 31, 2023 and 2022, the carrying amount of such restricted receivables included in financing receivables are the following:
(in millions of dollars)
20232022
Retail$7,707 $6,766 
Wholesale6,381 4,582 
Total$14,088 $11,348 
Schedule of allowance for credit loss
Allowance for credit losses activity for the year ended December 31, 2023 is as follows:
(in millions of dollars)
RetailWholesale
Opening balance$270 $64 
Provision86 (6)
Charge-offs(42)(5)
Recoveries4 — 
Foreign currency translation and other(8)— 
Ending balance$310 $53 
Allowance for credit losses activity for the year ended December 31, 2022 is as follows:
(in millions of dollars)
RetailWholesale
Opening Balance$220 $65 
Provision59 7 
Charge-offs, net of recoveries(17)(7)
Foreign currency translation and other8 (1)
Ending balance$270 $64 
Allowance for credit losses activity for the year ended December 31, 2021 is as follows:
 
(in millions of dollars)
RetailWholesale
Opening balance$231 $62 
Provision22 6 
Charge-offs, net of recoveries(22)1 
Foreign currency translation and other(11)(4)
Ending balance$220 $65 
Schedule of aging of receivables
The aging of financing receivables by vintage as of December 31, 2023 is as follows:
(in millions of dollars)
31-60 Days
Past Due
61-90 Days
Past Due
Total Past
Due
Current
Total
Performing
Non-
Performing
TotalGross Charge-offs
Retail
North America
2023$3,976 $4 $3,980 $1 
20222,133 4 2,137 10 
20211,323 3 1,326 4 
2020561 2 563 3 
2019208 1 209 3 
Prior to 201966 1 67 3 
Total44 3 47 8,220 8,267 15 8,282 24 
South America
20231,986 9 1,995 — 
2022955 32 987 — 
2021573 13 586 2 
2020294 4 298 7 
2019123 2 125 1 
Prior to 2019107 1 108 1 
Total22 — 22 4,016 4,038 61 4,099 11 
Asia Pacific
2023609 — 609 — 
2022453 1 454 1 
2021255 1 256 1 
2020115 1 116 2 
201931 1 32 2 
Prior to 20193 — 3 1 
Total5 6 11 1,455 1,466 4 1,470 7 
Europe, Middle East, Africa— — — 6 6 11 17 — 
Total Retail$71 $9 $80 $13,697 $13,777 $91 $13,868 $42 
Wholesale
North America$— $— $— $5,154 $5,154 $— $5,154 $— 
South America— — — 1,404 1,404 2 1,406 4 
Asia Pacific4 2 6 870 876 — 876 1 
Europe, Middle East, Africa5 — 5 2,893 2,898 — 2,898 — 
Total Wholesale$9 $2 $11 $10,321 $10,332 $2 $10,334 $5 
The aging of financing receivables by vintage 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
Current
Total
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 
Total42 16 58 7,291 7,349 1 7,350 
South America
20221,179 2 1,181 
2021725 3 728 
2020408 2 410 
2019207 1 208 
2018116 — 116 
Prior to 201895 — 95 
Total12 — 12 2,718 2,730 8 2,738 
Asia Pacific
2022601 — 601 
2021400 1 401 
2020220 1 221 
201984 — 84 
201835 — 35 
Prior to 20183 — 3 
Total8 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