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Finance Receivables (Tables)
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3 Months Ended |
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Mar. 31, 2014
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| Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] |
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| Finance receivables, net [Table Text Block] |
The finance receivables portfolio consists of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2014 | | December 31, 2013 | | | North America | | International | | Total | | North America | | International | | Total | Consumer | | | | | | | | | | | | | Pre-acquisition consumer finance receivables - outstanding balance | | $ | 735 |
| | $ | 293 |
| | $ | 1,028 |
| | $ | 931 |
| | $ | 363 |
| | $ | 1,294 |
| Pre-acquisition consumer finance receivables - carrying value | | $ | 645 |
| | $ | 285 |
| | $ | 930 |
| | $ | 826 |
| | $ | 348 |
| | $ | 1,174 |
| Post-acquisition consumer finance receivables, collectively evaluated for impairment, net of fees(a) | | 10,047 |
| | 12,183 |
| | 22,230 |
| | 9,795 |
| | 11,394 |
| | 21,189 |
| Post-acquisition consumer finance receivables, individually evaluated for impairment, net of fees | | 864 |
| | — |
| | 864 |
| | 767 |
| | — |
| | 767 |
| | | 11,556 |
| | 12,468 |
| | 24,024 |
| | 11,388 |
| | 11,742 |
| | 23,130 |
| Less: allowance for loan losses - collective | | (387 | ) | | (46 | ) | | (433 | ) | | (365 | ) | | (29 | ) | | (394 | ) | Less: allowance for loan losses - specific | | (104 | ) | | — |
| | (104 | ) | | (103 | ) | | — |
| | (103 | ) | Total consumer finance receivables, net | | 11,065 |
| | 12,422 |
| | 23,487 |
| | 10,920 |
| | 11,713 |
| | 22,633 |
| Commercial | | | |
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| | | | | | | | | Commercial finance receivables, collectively evaluated for impairment, net of fees | | 2,190 |
| | 4,840 |
| | 7,030 |
| | 1,975 |
| | 4,627 |
| | 6,602 |
| Commercial finance receivables, individually evaluated for impairment, net of fees | | — |
| | 78 |
| | 78 |
| | — |
| | 98 |
| | 98 |
| | | 2,190 |
| | 4,918 |
| | 7,108 |
| | 1,975 |
| | 4,725 |
| | 6,700 |
| Less: allowance for loan losses - collective | | (16 | ) | | (27 | ) | | (43 | ) | | (17 | ) | | (27 | ) | | (44 | ) | Less: allowance for loan losses - specific | | — |
| | (6 | ) | | (6 | ) | | — |
| | (7 | ) | | (7 | ) | Total commercial finance receivables, net | | 2,174 |
| | 4,885 |
| | 7,059 |
| | 1,958 |
| | 4,691 |
| | 6,649 |
| Total finance receivables, net | | $ | 13,239 |
| | $ | 17,307 |
| | $ | 30,546 |
| | $ | 12,878 |
| | $ | 16,404 |
| | $ | 29,282 |
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| Finance Receivables Summary [Table Text Block] |
Following is a summary of activity in our pre-acquisition consumer finance receivables portfolio (in millions): | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | 2014 | | 2013 | | | North America | | International | | Total | | North America | Pre-acquisition consumer finance receivables - outstanding balance, beginning of period | | $ | 931 |
| | $ | 363 |
| | $ | 1,294 |
| | $ | 2,162 |
| Pre-acquisition consumer finance receivables - carrying value, beginning of period | | $ | 826 |
| | $ | 348 |
| | $ | 1,174 |
| | $ | 1,958 |
| Principal collections and other | | (172 | ) | | (68 | ) | | (240 | ) | | (350 | ) | Change in carrying value adjustment | | (9 | ) | | 16 |
| | 7 |
| | (28 | ) | Foreign currency translation | | — |
| | (11 | ) | | (11 | ) | | — |
| Balance at end of period | | $ | 645 |
| | $ | 285 |
| | $ | 930 |
| | $ | 1,580 |
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| Accretable Yield [Table Text Block] |
A summary of the activity in the accretable yield on the pre-acquisition consumer finance receivables portfolios is as follows (in millions): | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | 2014 | | 2013 | | | North America | | International | | Total | | North America | Balance at beginning of period | | $ | 181 |
| | $ | 74 |
| | $ | 255 |
| | $ | 404 |
| Accretion of accretable yield | | (40 | ) | | (17 | ) | | (57 | ) | | (81 | ) | Transfer from non-accretable difference | | 33 |
| | — |
| | 33 |
| | 48 |
| Foreign currency translation | | — |
| | (2 | ) | | (2 | ) | | — |
| Balance at end of period | | $ | 174 |
| | $ | 55 |
| | $ | 229 |
| | $ | 371 |
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| Finance Receivables Summary - Post Acquisition Receivables [Table Text Block] |
Following is a summary of activity in our post-acquisition consumer finance receivables portfolio (in millions): | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | 2014 | | 2013 | | | North America | | International | | Total | | North America | Post-acquisition consumer finance receivables, net of fees - beginning of period | | $ | 10,562 |
| | $ | 11,394 |
| | $ | 21,956 |
| | $ | 8,831 |
| Loans purchased | | 1,364 |
| | 2,048 |
| | 3,412 |
| | 1,359 |
| Charge-offs | | (192 | ) | | (32 | ) | | (224 | ) | | (132 | ) | Principal collections and other | | (822 | ) | | (1,412 | ) | | (2,234 | ) | | (625 | ) | Foreign currency translation | | (1 | ) | | 185 |
| | 184 |
| | — |
| Balance at end of period | | $ | 10,911 |
| | $ | 12,183 |
| | $ | 23,094 |
| | $ | 9,433 |
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| Allowance for Credit Losses on Financing Receivables [Table Text Block] |
A summary of the activity in the allowance for consumer loan losses is as follows (in millions): | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | 2014 | | 2013 | | | North America | | International | | Total | | North America | Balance at beginning of period | | $ | 468 |
| | $ | 29 |
| | $ | 497 |
| | $ | 345 |
| Provision for loan losses | | 104 |
| | 33 |
| | 137 |
| | 89 |
| Charge-offs | | (192 | ) | | (32 | ) | | (224 | ) | | (132 | ) | Recoveries | | 111 |
| | 16 |
| | 127 |
| | 80 |
| Balance at end of period | | $ | 491 |
| | $ | 46 |
| | $ | 537 |
| | $ | 382 |
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| Financing Receivable Credit Quality Indicators [Table Text Block] |
A summary of the credit risk profile by FICO score band, determined at origination, of the consumer finance receivables in the North America Segment is as follows (dollars in millions): | | | | | | | | | | | | | | | | | | March 31, 2014 | | December 31, 2013 | | | Amount | | Percent | | Amount | | Percent | FICO Score less than 540 | | $ | 3,611 |
| | 31.0 | % | | $ | 3,511 |
| | 30.6 | % | FICO Score 540 to 599 | | 5,539 |
| | 47.6 |
| | 5,435 |
| | 47.3 |
| FICO Score 600 to 659 | | 2,250 |
| | 19.3 |
| | 2,277 |
| | 19.8 |
| FICO Score 660 and greater | | 246 |
| | 2.1 |
| | 270 |
| | 2.3 |
| Balance at end of period(a) | | $ | 11,646 |
| | 100.0 | % | | $ | 11,493 |
| | 100.0 | % |
_________________ | | (a) | Balance at the end of the period is the sum of pre-acquisition consumer finance receivables-outstanding balance and post-acquisition consumer finance receivables, net of fees for North America Segment. |
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| Past Due Financing Receivables [Table Text Block] |
The following is a summary of the contractual amounts of consumer finance receivables, which is not significantly different than recorded investment, that are (i) more than 30 days delinquent, not yet in repossession, and (ii) in repossession, but not yet charged off (dollars in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, | | | 2014 | | 2013 | | | North America | | International | | Total | | North America | | | Amount | | Amount | | Amount | | Percent of Contractual Amount Due | | Amount | | Percent of Contractual Amount Due | 31 - 60 days | | $ | 579 |
| | $ | 138 |
| | $ | 717 |
| | 3.1 | % | | $ | 477 |
| | 4.3 | % | Greater than 60 days | | 210 |
| | 126 |
| | 336 |
| | 1.4 |
| | 169 |
| | 1.5 |
| | | 789 |
| | 264 |
| | 1,053 |
| | 4.5 |
| | 646 |
| | 5.8 |
| In repossession | | 33 |
| | 5 |
| | 38 |
| | 0.1 |
| | 32 |
| | 0.3 |
| | | $ | 822 |
| | $ | 269 |
| | $ | 1,091 |
| | 4.6 | % | | $ | 678 |
| | 6.1 | % |
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| Troubled Debt Restructurings on Financing Receivables [Table Text Block] |
The outstanding recorded investment for consumer finance receivables that are considered to be TDRs and the related allowance is presented below (in millions): | | | | | | | | | | | | March 31, 2014 | | December 31, 2013 | Outstanding recorded investment | | $ | 864 |
| | $ | 767 |
| Less: allowance for loan losses | | (104 | ) | | (103 | ) | Outstanding recorded investment, net of allowance | | $ | 760 |
| | $ | 664 |
| Unpaid principal balance | | $ | 880 |
| | $ | 779 |
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Finance charge income from loans classified as TDRs is accounted for in the same manner as other accruing loans. Cash collections on these loans are allocated according to the same payment hierarchy methodology applied to loans that are not classified as TDRs. Additional information about loans classified as TDRs is presented below (in millions): | | | | | | | | | | | | Three Months Ended March 31, | | | 2014 | | 2013 | Average recorded investment | | $ | 816 |
| | $ | 282 |
| Finance charge income recognized | | $ | 29 |
| | $ | 10 |
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The following table provides information on consumer loans at the time they became classified as TDRs (dollars in millions): | | | | | | | | | | | | | | | | Three Months Ended March 31, | | 2014 | | 2013 | | Number of Accounts | | Amount | | Number of Accounts | | Amount | Recorded investment | 10,127 |
| | $ | 183 |
| | 6,992 |
| | $ | 131 |
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| Finance Receivables Summary - Post-acquisition - Commercial [Table Text Block] |
Following is a summary of activity in our commercial finance receivables portfolio (in millions): | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | 2014 | | 2013 | | | North America | | International | | Total | | North America | Commercial finance receivables, net of fees - beginning of period | | $ | 1,975 |
| | $ | 4,725 |
| | $ | 6,700 |
| | $ | 560 |
| Net funding of commercial finance receivables | | 223 |
| | 154 |
| | 377 |
| | 323 |
| Charge-offs | | — |
| | — |
| | — |
| | — |
| Foreign currency translation | | (8 | ) | | 39 |
| | 31 |
| | — |
| Balance at end of period | | $ | 2,190 |
| | $ | 4,918 |
| | $ | 7,108 |
| | $ | 883 |
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| Allowance for Loan Losses - Commercial Loans [Table Text Block] |
A summary of the activity in the allowance for commercial loan losses is as follows (in millions): | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | 2014 | | 2013 | | | North America | | International | | Total | | North America | Balance at beginning of period | | $ | 17 |
| | $ | 34 |
| | $ | 51 |
| | $ | 6 |
| Provision for loan losses | | (1 | ) | | (1 | ) | | (2 | ) | | 5 |
| Recoveries | | — |
| | — |
| | — |
| | — |
| Charge-offs | | — |
| | — |
| | — |
| | — |
| Balance at end of period | | $ | 16 |
| | $ | 33 |
| | $ | 49 |
| | $ | 11 |
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| Financing Receivable Credit Quality Indicators for Commercial Lending [Table Text Block] |
A summary of the credit risk profile by dealer grouping of the commercial finance receivables is as follows (in millions): | | | | | | | | | | | | | | March 31, 2014 | | December 31, 2013 | Group I - | Dealers with strong to superior financial metrics | | $ | 609 |
| | $ | 598 |
| Group II - | Dealers with fair to favorable financial metrics | | 1,626 |
| | 1,588 |
| Group III - | Dealers with marginal to weak financial metrics | | 2,422 |
| | 2,174 |
| Group IV - | Dealers with poor financial metrics | | 1,680 |
| | 1,622 |
| Group V - | Dealers warranting special mention due to potential weaknesses | | 543 |
| | 488 |
| Group VI - | Dealers with loans classified as substandard, doubtful or impaired | | 228 |
| | 230 |
| Balance at end of period | | $ | 7,108 |
| | $ | 6,700 |
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