Finance Assets, net (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Allowance for Losses on Finance Assets

The activity in the allowance for losses on finance assets for the nine months ended September 30, 2015 and 2014 was as follows:



	For the Nine Months Ended September 30,
	2015		2014
	(in millions)
Balance at beginning of the year	$	42	$	52
Decrease to allowance	—		(10		)
Balance at September 30	$	42	$	42

Schedule of Credit Quality of Investments in Finance Assets

The credit quality of PMCC’s investments in finance leases as assigned by Standard & Poor’s Ratings Services (“Standard & Poor’s”) and Moody’s Investors Service, Inc. (“Moody’s”) at September 30, 2015 and December 31, 2014 was as follows:



	September 30, 2015		December 31, 2014
	(in millions)
Credit Rating by Standard & Poor’s/Moody’s:
“AAA/Aaa” to “A-/A3”	$	214	$	417
“BBB+/Baa1” to “BBB-/Baa3”	722		833
“BB+/Ba1” and Lower	401		406
Total	$	1,337	$	1,656