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Finance Receivables (Tables)
 12 Months Ended
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of Finance Receivables, Net
December 31, 2023December 31, 2022
Retail finance receivables
Retail finance receivables, net of fees(a)
$72,729 $65,322 
Less: allowance for loan losses(2,308)(2,062)
Total retail finance receivables, net70,421 63,260 
Commercial finance receivables
Commercial finance receivables, net of fees(a)(b)(c)
14,251 11,288 
Less: allowance for loan losses(36)(34)
Total commercial finance receivables, net14,216 11,254 
Total finance receivables, net$84,637 $74,514 
Fair value utilizing Level 2 inputs$14,216 $11,254 
Fair value utilizing Level 3 inputs$70,911 $62,150 
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(a)Net of unearned income, unamortized premiums and discounts, and deferred fees and costs.
(b)Net of dealer cash management balances of $2.6 billion and $1.9 billion at December 31, 2023 and 2022.
(c)Includes dealer financing of $13.4 billion and $10.8 billion, and other financing of $830 million and $476 million at December 31, 2023 and 2022.
Schedule of Allowance for Credit Losses on Financing Receivables A summary of the activity in the allowance for retail loan losses is as follows:
Years Ended December 31,
202320222021
Allowance for retail loan losses beginning balance$2,062 $1,839 $1,915 
Provision for loan losses826 668 267 
Charge-offs(1,423)(1,138)(897)
Recoveries767 685 571 
Foreign currency translation and other
76 9 (17)
Allowance for retail loan losses ending balance$2,308 $2,062 $1,839 
Schedule of Financing Receivable Credit Quality Indicators The following tables are consolidated summaries of the amortized cost of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the portfolio at December 31, 2023 and 2022:
Year of OriginationDecember 31, 2023
 20232022202120202019PriorTotalPercent
Prime - FICO Score 680 and greater$23,940 $15,581 $9,039 $4,926 $1,076 $320 $54,882 75.5 %
Near-prime - FICO Score 620 to 6793,234 2,281 1,746 906 350 129 8,647 11.9 
Sub-prime - FICO Score less than 6203,079 2,397 1,884 1,010 573 257 9,200 12.6 
Retail finance receivables, net of fees$30,253 $20,259 $12,670 $6,842 $2,000 $707 $72,729 100.0 %
Year of OriginationDecember 31, 2022
 20222021202020192018PriorTotalPercent
Prime - FICO Score 680 and greater$22,677 $13,399 $7,991 $2,254 $1,019 $205 $47,543 72.8 %
Near-prime - FICO Score 620 to 6793,202 2,601 1,487 688 310 104 8,392 12.8 
Sub-prime - FICO Score less than 6203,211 2,746 1,604 1,051 496 280 9,388 14.4 
Retail finance receivables, net of fees$29,090 $18,745 $11,081 $3,992 $1,824 $589 $65,322 100.0 %
Our dealer risk model and risk rating categories are as follows:
Dealer Risk RatingDescription
IPerforming accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
IIPerforming accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
IIINon-Performing accounts with inadequate paying capacity for current obligations and that have the distinct possibility of creating a loss if deficiencies are not corrected.
IVNon-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection or liquidation in full highly questionable or improbable.
The following tables summarize the dealer credit risk profile by dealer risk rating at December 31, 2023 and 2022:
Year of OriginationDecember 31, 2023
Dealer Risk RatingRevolving20232022202120202019PriorTotalPercent
I$11,638 $295 $417 $297 $301 $85 $11 $13,043 97.2 %
II182 — 2 2 — — — 187 1.4 
III152 1 15 12 — 11 — 192 1.4 
IV— — — — — — — — — 
Balance at end of period$11,971 $296 $435 $311 $301 $96 $11 $13,422 100.0 %
Year of OriginationDecember 31, 2022
Dealer Risk RatingRevolving20222021202020192018PriorTotalPercent
I$9,261 $452 $361 $372 $102 $45 $24 $10,618 98.2 %
II89 — 1 — — — — 91 0.8 
III78 15 — — 10 — — 104 1.0 
IV— — — — — — — — — 
Balance at end of period$9,428 $468 $363 $372 $112 $45 $25 $10,812 100.0 %
Schedule of Past Due Financing Receivables The following tables are consolidated summaries of the amortized cost of retail finance receivables by delinquency status, for each vintage of the portfolio at December 31, 2023 and 2022. The first table also presents our charge-offs for 2023 by vintage:
Year of OriginationDecember 31, 2023
20232022202120202019PriorTotalPercent
0 - 30 days$29,816 $19,602 $12,098 $6,533 $1,825 $599 $70,472 96.9 %
31 - 60 days318 470 415 227 130 78 1,637 2.3 
Greater than 60 days102 168 142 76 42 29 559 0.8 
Finance receivables more than 30 days delinquent421 637 557 302 172 107 2,196 3.0 
In repossession17 20 14 6 3 1 61 0.1 
Finance receivables more than 30 days delinquent or in repossession437 657 572 308 175 108 2,257 3.1 
Retail finance receivables, net of fees$30,253 $20,259 $12,670 $6,842 $2,000 $707 $72,729 100.0 %
Charge-offs$143 $494 $399 $192 $108 $87 $1,423 
Year of OriginationDecember 31, 2022
20222021202020192018PriorTotalPercent
0 - 30 days$28,676 $18,128 $10,702 $3,743 $1,685 $493 $63,426 97.1 %
31 - 60 days310 452 275 184 103 69 1,393 2.1 
Greater than 60 days93 150 98 62 35 26 465 0.7 
Finance receivables more than 30 days delinquent403 603 373 246 138 95 1,857 2.8 
In repossession11 14 6 4 2 1 39 0.1 
Finance receivables more than 30 days delinquent or in repossession414 617 380 249 140 96 1,896 2.9 
Retail finance receivables, net of fees$29,090 $18,745 $11,081 $3,992 $1,824 $589 $65,322 100.0 %