RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2024

A summary of financing receivables as of March 31, 2024 and December 31, 2023 is as follows (in millions of dollars):


	March 31, 2024		December 31, 2023
Retail	$	13,914	$	13,868
Wholesale	10,177		10,334
Other	29		47
Total	$	24,120	$	24,249

Summary of Carrying Amount of Restricted Assets

At March 31, 2024 and December 31, 2023, the carrying amount of such restricted assets included in financing receivables are the following (in millions of dollars):


	March 31, 2024		December 31, 2023
Retail	$	7,830	$	7,707
Wholesale	6,418		6,381
Total	$	14,248	$	14,088

Summary of Aging of Financing Receivables

The aging of financing receivables by vintage as of March 31, 2024 is as follows (in millions of dollars):


	31-60 Days Past Due		61-90 Days Past Due		Total Past Due		Current		Total Performing		Non- Performing		Total		Gross Charge-offs
Retail
North America
2024									$	1,098	$	—	$	1,098	$	—
2023									3,389		5		3,394		3
2022									1,918		3		1,921		2
2021									1,184		2		1,186		1
2020									474		2		476		—
Prior to 2020									206		1		207		1
Total	41		2		43		8,226		8,269		13		8,282		7
South America
2024									500		—		500		—
2023									1,828		16		1,844		—
2022									854		41		895		2
2021									516		17		533		1
2020									266		5		271		1
Prior to 2020									210		3		213		—
Total	56		2		58		4,116		4,174		82		4,256		4
Asia Pacific
2024									660		—		660		—
2023									378		1		379		—
2022									205		1		206		—
2021									85		1		86		—
2020									18		—		18		—
Prior to 2020									1		—		1		—
Total	5		6		11		1,336		1,347		3		1,350		—
Europe, Middle East, Africa	—		—		—		18		18		8		26		—
Total Retail	$	102	$	10	$	112	$	13,696	$	13,808	$	106	$	13,914	$	11
Wholesale
North America	$	—	$	—	$	—	$	5,408	$	5,408	$	—	$	5,408	$	—
South America	—		—		—		1,208		1,208		2		1,210		—
Asia Pacific	3		1		4		821		825		—		825		1
Europe, Middle East, Africa	12		—		12		2,722		2,734		—		2,734		—
Total Wholesale	$	15	$	1	$	16	$	10,159	$	10,175	$	2	$	10,177	$	1

The aging of financing receivables by vintage as of December 31, 2023 is as follows (in millions of dollars):


	31-60 Days Past Due		61-90 Days Past Due		Total Past Due		Current		Total Performing		Non- Performing		Total		Gross Charge-offs
Retail
North America
2023									$	3,976	$	4	$	3,980	$	1
2022									2,133		4		2,137		10
2021									1,323		3		1,326		4
2020									561		2		563		3
2019									208		1		209		3
Prior to 2019									66		1		67		3
Total	44		3		47		8,220		8,267		15		8,282		24
South America
2023									1,986		9		1,995		—
2022									955		32		987		—
2021									573		13		586		2
2020									294		4		298		7
2019									123		2		125		1
Prior to 2019									107		1		108		1
Total	22		—		22		4,016		4,038		61		4,099		11
Asia Pacific
2023									609		—		609		—
2022									453		1		454		1
2021									255		1		256		1
2020									115		1		116		2
2019									31		1		32		2
Prior to 2019									3		—		3		1
Total	5		6		11		1,455		1,466		4		1,470		7
Europe, Middle East, Africa	—		—		—		6		6		11		17		—
Total Retail	$	71	$	9	$	80	$	13,697	$	13,777	$	91	$	13,868	$	42
Wholesale
North America	$	—	$	—	$	—	$	5,154	$	5,154	$	—	$	5,154	$	—
South America	—		—		—		1,404		1,404		2		1,406		4
Asia Pacific	4		2		6		870		876		—		876		1
Europe, Middle East, Africa	5		—		5		2,893		2,898		—		2,898		—
Total Wholesale	$	9	$	2	$	11	$	10,321	$	10,332	$	2	$	10,334	$	5

Summary of Allowance for Credit Loss Activity

Allowance for credit losses for the three months ended March 31, 2024 is as follows (in millions of dollars):


	Retail		Wholesale
Opening Balance	$	310	$	53
Provision	38		(1)
Charge-offs	(11)		(1)
Recoveries	(1)		—
Foreign currency translation and other	(6)		(1)
Ending Balance	$	330	$	50

Allowance for credit losses for the three months ended March 31, 2023 is as follows (in millions of dollars):


	Retail		Wholesale
Opening Balance	$	270	$	64
Provision	17		—
Charge-offs	(11)		—
Recoveries	—		—
Foreign currency translation and other	(12)		(1)
Ending Balance	$	264	$	63