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Finance Receivables (Tables)
 12 Months Ended
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of Finance Receivables, Net
December 31, 2024December 31, 2023
Retail Finance Receivables
Retail finance receivables(a)
$76,066 $72,729 
Less: allowance for loan losses(2,400)(2,308)
Total retail finance receivables, net73,667 70,421 
Commercial Finance Receivables
Commercial finance receivables(a)(b)
19,901 14,251 
Less: allowance for loan losses(58)(36)
Total commercial finance receivables, net19,843 14,216 
Total finance receivables, net$93,510 $84,637 
Fair value utilizing Level 2 inputs$19,843 $14,216 
Fair value utilizing Level 3 inputs$74,729 $70,911 
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(a)Net of unearned income, unamortized premiums and discounts, and deferred fees and costs.
(b)Includes dealer financing of $18.9 billion and $13.4 billion, and other financing of $999 million and $830 million at December 31, 2024 and 2023. Commercial finance receivables are presented net of dealer cash management balances of $3.4 billion and $2.6 billion at December 31, 2024 and 2023.
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,
202420232022
Allowance for retail loan losses beginning balance$2,308 $2,062 $1,839 
Provision for loan losses1,005 826 668 
Charge-offs(1,754)(1,423)(1,138)
Recoveries901 767 685 
Foreign currency translation and other
(61)76 9 
Allowance for retail loan losses ending balance$2,400 $2,308 $2,062 
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, 2024 and 2023. The tables also present gross charge-offs by vintage for 2024 and 2023:
Year of OriginationDecember 31, 2024
20242023202220212020PriorTotalPercent
0 - 30 days$30,581 $19,411 $12,207 $7,178 $3,350 $710 $73,438 96.5 %
31 - 60 days374 481 425 340 166 99 1,885 2.5 
Greater than 60 days128 188 155 115 55 36 677 0.9 
Finance receivables more than 30 days delinquent502 669 580 455 221 135 2,562 3.4 
In repossession17 19 14 10 3 2 66 0.1 
Finance receivables more than 30 days delinquent or in repossession519 689 595 464 225 136 2,628 3.5 
Retail finance receivables$31,101 $20,100 $12,802 $7,642 $3,575 $847 $76,066 100.0 %
Gross charge-offs$171 $556 $495 $305 $126 $102 $1,754 
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$30,253 $20,259 $12,670 $6,842 $2,000 $707 $72,729 100.0 %
Gross charge-offs$143 $494 $399 $192 $108 $87 $1,423 
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, 2024 and 2023:
Year of OriginationDecember 31, 2024
 20242023202220212020PriorTotalPercent
Prime - FICO Score 680 and greater$24,155 $15,814 $9,749 $5,424 $2,559 $366 $58,067 76.3 %
Near-prime - FICO Score 620 to 6793,547 2,227 1,507 1,077 473 159 8,990 11.8 
Sub-prime - FICO Score less than 6203,399 2,059 1,546 1,141 543 322 9,008 11.8 
Retail finance receivables$31,101 $20,100 $12,802 $7,642 $3,575 $847 $76,066 100.0 %
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$30,253 $20,259 $12,670 $6,842 $2,000 $707 $72,729 100.0 %
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, 2024 and 2023:
Year of OriginationDecember 31, 2024
Dealer Risk RatingRevolving20242023202220212020PriorTotalPercent
I$16,429 $350 $211 $360 $237 $267 $32 $17,885 94.6 %
II621 — 10 26 3 2 — 663 3.5 
III305 10 4 — 22 — 12 354 1.9 
IV1 — — — — — — 1 0.0 
Balance at end of period$17,356 $360 $225 $385 $263 $269 $44 $18,902 100.0 %
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 %