
	December 31, 2020		December 31, 2019
Retail finance receivables
Retail finance receivables, net of fees(a)	$	51,288	$	42,268
Less: allowance for loan losses	(1,915)		(866)
Total retail finance receivables, net	49,373		41,402
Commercial finance receivables
Commercial finance receivables, net of fees(b)	9,080		12,149
Less: allowance for loan losses	(63)		(78)
Total commercial finance receivables, net	9,017		12,071
Total finance receivables, net	$	58,390	$	53,473
Fair value utilizing Level 2 inputs	$	9,017	$	12,071
Fair value utilizing Level 3 inputs	$	51,645	$	42,012


	Years Ended December 31,
	2020		2019		2018
Allowance for retail loan losses beginning balance	$	866	$	844	$	889
Impact of adopting ASU 2016-13 (Note 1)	801		—		—
Provision for loan losses	880		690		624
Charge-offs	(1,149)		(1,218)		(1,196)
Recoveries	537		548		536
Foreign currency translation	(20)		2		(9)
Allowance for retail loan losses ending balance	$	1,915	$	866	$	844

Retail Credit Quality Our retail finance receivables portfolio includes loans made to consumers and businesses to finance the purchase of vehicles for personal and commercial use. A summary of the amortized cost of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the retail finance receivables portfolio at December 31, 2020 is as follows:


	Year of Origination
	2020		2019		2018		2017		2016		Prior		Total		Percent
Prime - FICO Score 680 and greater	$	18,685	$	7,033	$	4,491	$	1,917	$	555	$	119	$	32,800	64.0	%
Near-prime - FICO Score 620 to 679	3,695		2,097		1,232		603		225		83		7,935		15.4
Sub-prime - FICO Score less than 620	3,803		2,920		1,740		1,173		610		307		10,553		20.6
Retail finance receivables, net of fees	$	26,183	$	12,050	$	7,463	$	3,693	$	1,390	$	509	$	51,288	100.0	%

We review the ongoing credit quality of our retail finance receivables based on customer payment activity. A retail account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date the payment was contractually due. Retail finance receivables are collateralized by vehicle titles and, subject to local laws, we generally have the right to repossess the vehicle in the event the customer defaults on the payment terms of the contract. The following table is a consolidated summary of the delinquency status of the outstanding amortized cost of retail finance receivables for each vintage of the portfolio at December 31, 2020:


	Year of Origination
	2020		2019		2018		2017		2016		Prior		Total		Percent
0 - 30 days	$	25,894	$	11,591	$	7,131	$	3,454	$	1,249	$	421	$	49,740	97.0	%

31 - 60 days	210		325		235		170		102		61		1,103		2.1
Greater than 60 days	72		123		90		64		37		26		412		0.8
Finance receivables more than 30 days delinquent	282		448		325		234		139		87		1,515		2.9
In repossession	7		11		7		5		2		1		33		0.1
Finance receivables more than 30 days delinquent or in repossession	289		459		332		239		141		88		1,548		3.0
Retail finance receivables, net of fees	$	26,183	$	12,050	$	7,463	$	3,693	$	1,390	$	509	$	51,288	100.0	%

The accrual of finance charge income had been suspended on retail finance receivables with contractual amounts due of $714 million and $875 million at December 31, 2020 and December 31, 2019.

TDRs The outstanding amortized cost of retail finance receivables that are considered TDRs was $2.2 billion at December 31, 2020, including $301 million in nonaccrual loans. Additional TDR activity is presented below:


	Years Ended December 31,
	2020		2019		2018
Number of loans classified as TDRs during the period	57,524		69,863		69,298
Outstanding amortized cost of loans classified as TDRs during the period	$	1,057	$	1,269	$	1,267

The unpaid principal balances, net of recoveries, of loans charged off during the reporting period within 12 months of being modified as a TDR were $28 million, $37 million and $38 million for 2020, 2019 and 2018.

Commercial Credit Quality Our commercial finance receivables consist of dealer financings, primarily for dealer inventory purchases. Proprietary models are used to assign a risk rating to each dealer. We perform periodic credit reviews of each dealership and adjust the dealership's risk rating, if necessary.


Dealer Risk Rating						Description
I						Performing accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
II						Performing accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
III						Non-Performing accounts with inadequate paying capacity for current obligations and that have the distinct possibility of creating a loss if deficiencies are not corrected.
IV						Non-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection or liquidation in full highly questionable or improbable.

Dealers with III and IV risk ratings are subject to additional monitoring and restrictions on funding, including suspension of lines of credit and liquidation of assets. The following table summarizes the credit risk profile by dealer risk rating of commercial finance receivables at December 31, 2020:


	Year of Origination(a)
Dealer Risk Rating	Revolving		2020		2019		2018		2017		2016		Prior		Total		Percent
I	$	7,210	$	579	$	179	$	77	$	110	$	43	$	19	$	8,217	90.5	%
II	508		2		18		11		15		18		34		606		6.7
III	203		—		8		29		2		11		—		253		2.8
IV	—		—		—		—		—		—		4		4		—
Balance at end of period	$	7,921	$	581	$	205	$	117	$	127	$	72	$	57	$	9,080	100.0	%

At December 31, 2020, substantially all of our commercial finance receivables were current with respect to payment status, and activity in the allowance for commercial loan losses was insignificant for 2020, 2019 and 2018. Commercial finance receivables on nonaccrual status were insignificant, and none were classified as TDRs at December 31, 2020.