Finance Assets, net (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Allowance for Losses on Finance Assets

The activity in the allowance for losses on finance assets for the six months ended June 30, 2014 and 2013 was as follows:



	For the Six Months Ended June 30,
	2014			2013
	(in millions)
Balance at beginning of the year	$	52		$	99
Decrease to allowance	(10		)	(47		)
Balance at June 30	$	42		$	52

Schedule of Credit Quality of Investments in Finance Assets

The credit quality of PMCC’s investments in finance leases as assigned by Standard & Poor’s Ratings Services (“Standard & Poor’s”) and Moody’s Investors Service, Inc. (“Moody’s”) at June 30, 2014 and December 31, 2013 was as follows:



	June 30, 2014		December 31, 2013
	(in millions)
Credit Rating by Standard & Poor’s/Moody’s:
“AAA/Aaa” to “A-/A3”	$	434	$	464
“BBB+/Baa1” to “BBB-/Baa3”	782		927
“BB+/Ba1” and Lower	609		658
Total	$	1,825	$	2,049