Finance Receivables, Net (Tables)

12 Months Ended

Dec. 31, 2022

Financing Receivable, after Allowance for Credit Loss [Abstract]

Finance receivables, net were as follows:


	December 31,
	2022		2021
Gross receivables	$	3,593	$	3,568
Unearned income	(374)		(380)
Subtotal	3,219		3,188
Residual values	—		—
Allowance for doubtful accounts	(117)		(118)
Finance Receivables, Net	3,102		3,070
Less: Billed portion of finance receivables, net	93		94
Less: Current portion of finance receivables not billed, net	1,061		1,042
Finance Receivables Due After One Year, Net	$	1,948	$	1,934

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,
	2022		2021
2022			$	1,357
2023	$	1,325	972
2024	967		668
2025	690		396
2026	411		157
2027	169
Thereafter	31		18
Total	$	3,593	$	3,568

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

Balance at December 31, 2021	$	77	$	11	$	30	$	118
Provision	20		(2)		8		26
Charge-offs	(15)		(3)		(8)		(26)
Recoveries and other(2)	1		1		(3)		(1)

Balance at December 31, 2022	$	83	$	7	$	27	$	117
Finance Receivables Collectively Evaluated for Impairment:
December 31, 2021(3)	$	1,876	$	251	$	1,061	$	3,188
December 31, 2022(3)	$	1,948	$	228	$	1,043	$	3,219

_____________

(1)Includes developing market countries.

(2)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.

(3)Total Finance receivables exclude the allowance for credit losses of $117 and $118 at December 31, 2022 and 2021, respectively.

Schedule of 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, 2022
	2022		2021		2020		2019		2018		Prior		Total Finance Receivables
United States (Direct):
Low Credit Risk	$	173	$	104	$	80	$	53	$	23	$	2	$	435
Average Credit Risk	83		36		26		28		7		2		182
High Credit Risk	71		70		49		18		6		2		216
Total	327		210		155		99		36		6		833

United States (Indirect):
Low Credit Risk	249		165		91		49		12		1		567
Average Credit Risk	210		156		73		40		11		—		490
High Credit Risk	22		20		9		5		2		—		58
Total	481		341		173		94		25		1		1,115

Canada
Low Credit Risk	31		22		17		12		5		—		87
Average Credit Risk	46		25		22		16		5		—		114
High Credit Risk	6		6		8		4		2		1		27
Total	83		53		47		32		12		1		228

EMEA(1)
Low Credit Risk	269		167		90		59		24		5		614
Average Credit Risk	152		105		63		43		15		3		381
High Credit Risk	17		13		9		7		2		—		48
Total	438		285		162		109		41		8		1,043

Total Finance Receivables
Low Credit Risk	722		458		278		173		64		8		1,703
Average Credit Risk	491		322		184		127		38		5		1,167
High Credit Risk	116		109		75		34		12		3		349
Total	$	1,329	$	889	$	537	$	334	$	114	$	16	$	3,219


	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

_____________

(1)Includes developing market countries.

Schedule of Aging of Billed Finance Receivables

The aging of our billed finance receivables is as follows:


	December 31, 2022
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed		Unbilled		Total Finance Receivables		>90 Days and Accruing






Direct	$	30	$	6	$	6	$	42	$	791	$	833	$	47
Indirect	27		6		4		37		1,078		1,115		—
Total United States	57		12		10		79		1,869		1,948		47
Canada	5		1		—		6		222		228		6





EMEA (1)	9		2		1		12		1,031		1,043		12

Total	$	71	$	15	$	11	$	97	$	3,122	$	3,219	$	65


	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

_____________

(1)Includes developing market countries.