Finance Receivables, Net (Tables)

12 Months Ended

Dec. 31, 2021

Financing Receivable, after Allowance for Credit Loss [Abstract]

Finance receivables, net were as follows:


	December 31,
	2021		2020
Gross receivables	$	3,568	$	3,691
Unearned income	(380)		(393)
Subtotal	3,188		3,298
Residual values	—		—
Allowance for doubtful accounts	(118)		(133)
Finance Receivables, Net	3,070		3,165
Less: Billed portion of finance receivables, net	94		99
Less: Current portion of finance receivables not billed, net	1,042		1,082
Finance Receivables Due After One Year, Net	$	1,934	$	1,984

Schedule of financing receivables, minimum payments

A summary of our gross finance receivables' future contractual maturities, including those previously billed, is as follows:


	December 31,
	2021		2020
12 Months	$	1,357	$	1,426
24 Months	972		1,006
36 Months	668		697
48 Months	396		395
60 Months	157		152
Thereafter	18		15
Total	$	3,568	$	3,691

Allowance for credit losses, financing receivables

The allowance for doubtful accounts as well as the related investment in finance receivables were as follows:


Allowance for Credit Losses:	United States		Canada(1)		Europe(1)(2)		Total
Balance at December 31, 2019	$	59	$	10	$	20	$	89
Provision	41		8		32		81
Charge-offs	(23)		(5)		(14)		(42)
Recoveries and other(3)	—		2		3		5

Balance at December 31, 2020	$	77	$	15	$	41	$	133
Provision	5		(3)		(3)		(1)
Charge-offs	(7)		(3)		(6)		(16)
Recoveries and other(3)	2		2		(2)		2

Balance at December 31, 2021	$	77	$	11	$	30	$	118
Finance Receivables Collectively Evaluated for Impairment:
December 31, 2020(4)	$	1,823	$	297	$	1,178	$	3,298
December 31, 2021(4)	$	1,876	$	251	$	1,061	$	3,188

_____________

(1)2019 amounts have been recast to include the Other geographic region, which was previously disclosed as a separate grouping, conforming to the current year's presentation.

(2)Includes developing market countries.

(3)Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations.

(4)Total Finance receivables exclude the allowance for credit losses of $118 and $133 at December 31, 2021 and 2020, respectively.

Credit quality indicators for financing receivables

Details about our finance receivables portfolio based on geography, origination year and credit quality indicators are as follows:


	December 31, 2021
	2021		2020		2019		2018		2017		Prior		Total Finance Receivables
United States (Direct):
Low Credit Risk	$	148	$	121	$	98	$	68	$	21	$	3	$	459
Average Credit Risk	60		40		57		23		8		2		190
High Credit Risk	91		73		31		16		6		1		218
Total	299		234		186		107		35		6		867

United States (Indirect):
Low Credit Risk	235		145		100		43		11		—		534
Average Credit Risk	201		103		74		35		10		—		423
High Credit Risk	24		15		8		4		1		—		52
Total	460		263		182		82		22		—		1,009

Canada
Low Credit Risk	32		27		22		13		3		1		98
Average Credit Risk	34		34		27		15		6		1		117
High Credit Risk	8		12		7		5		4		—		36
Total	74		73		56		33		13		2		251

EMEA(1)
Low Credit Risk	229		143		121		71		22		6		592
Average Credit Risk	156		109		84		45		15		3		412
High Credit Risk	18		15		13		8		3		—		57
Total	403		267		218		124		40		9		1,061

Total Finance Receivables
Low Credit Risk	644		436		341		195		57		10		1,683
Average Credit Risk	451		286		242		118		39		6		1,142
High Credit Risk	141		115		59		33		14		1		363
Total	$	1,236	$	837	$	642	$	346	$	110	$	17	$	3,188


	December 31, 2020
	2020		2019		2018		2017		2016		Prior		Total Finance Receivables
United States (Direct):
Low Credit Risk	$	164	$	151	$	128	$	71	$	32	$	4	$	550
Average Credit Risk	54		95		52		26		8		2		237
High Credit Risk	90		42		27		13		5		3		180
Total	308		288		207		110		45		9		967

United States (Indirect):
Low Credit Risk	193		140		79		33		7		—		452
Average Credit Risk	129		124		71		31		8		—		363
High Credit Risk	19		9		9		3		1		—		41
Total	341		273		159		67		16		—		856

Canada
Low Credit Risk	37		34		24		10		5		1		111
Average Credit Risk	46		39		26		17		6		1		135
High Credit Risk	18		10		10		10		3		—		51
Total	101		83		60		37		14		2		297
							—
EMEA(1)
Low Credit Risk	197		177		131		62		20		4		591
Average Credit Risk	170		160		108		51		17		4		510
High Credit Risk	23		24		15		10		4		1		77
Total	390		361		254		123		41		9		1,178

Total Finance Receivables
Low Credit Risk	591		502		362		176		64		9		1,704
Average Credit Risk	399		418		257		125		39		7		1,245
High Credit Risk	150		85		61		36		13		4		349
Total	$	1,140	$	1,005	$	680	$	337	$	116	$	20	$	3,298

_____________

(1)Includes developing market countries.

Aging of billed finance receivables

The aging of our billed finance receivables is as follows:


	December 31, 2021
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed		Unbilled		Total Finance Receivables		>90 Days and Accruing






Direct	$	28	$	7	$	7	$	42	$	825	$	867	$	61
Indirect	28		5		4		37		972		1,009		—
Total United States	56		12		11		79		1,797		1,876		61
Canada	6		1		—		7		244		251		9





EMEA (1)	9		2		1		12		1,049		1,061		13

Total	$	71	$	15	$	12	$	98	$	3,090	$	3,188	$	83


	December 31, 2020
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed		Unbilled		Total Finance Receivables		>90 Days and Accruing






Direct	$	33	$	6	$	9	$	48	$	919	$	967	$	74
Indirect	21		4		3		28		828		856		—
Total United States	54		10		12		76		1,747		1,823		74
Canada	8		2		—		10		287		297		12





EMEA(1)	12		3		2		17		1,161		1,178		23

Total	$	74	$	15	$	14	$	103	$	3,195	$	3,298	$	109

_____________

(1)Includes developing market countries.