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Finance Receivables (Tables)
 3 Months Ended
Mar. 31, 2024
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of Finance Receivables, Net
March 31, 2024December 31, 2023
Retail finance receivables
Retail finance receivables(a)
$73,230 $72,729 
Less: allowance for loan losses(2,320)(2,308)
Total retail finance receivables, net70,911 70,421 
Commercial finance receivables
Commercial finance receivables(a)(b)
14,895 14,251 
Less: allowance for loan losses(35)(36)
Total commercial finance receivables, net14,860 14,216 
Total finance receivables, net$85,771 $84,637 
Fair value utilizing Level 2 inputs$14,860 $14,216 
Fair value utilizing Level 3 inputs$71,427 $70,911 
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(a)    Net of unearned income, unamortized premiums and discounts, and deferred fees and costs.
(b)    Includes dealer financing of $14.1 billion and $13.4 billion, and other financing of $773 million and $830 million at March 31, 2024 and December 31, 2023. Commercial finance receivables are presented net of dealer cash management balances of $2.8 billion and $2.6 billion at March 31, 2024 and December 31, 2023.
Schedule of Allowance for Credit Losses on Financing Receivables A summary of the activity in the allowance for retail loan losses is as follows:
Three Months Ended March 31,
20242023
Allowance for retail loan losses beginning balance$2,308 $2,062 
Provision for loan losses205 137 
Charge-offs(405)(322)
Recoveries213 186 
Foreign currency translation and other(1)60 
Allowance for retail loan losses ending balance$2,320 $2,123 
Schedule of Financing Receivable Credit Quality Indicators The following tables are consolidated summaries of the amortized cost of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the portfolio at March 31, 2024 and December 31, 2023:
Year of OriginationMarch 31, 2024
 20242023202220212020PriorTotalPercent
Prime - FICO Score 680 and greater$6,124 $21,739 $14,060 $8,080 $4,274 $1,055 $55,332 75.6 %
Near-prime - FICO Score 620 to 679902 2,981 2,076 1,566 787 380 8,692 11.9 
Sub-prime - FICO Score less than 620967 2,821 2,172 1,682 878 685 9,206 12.6 
Retail finance receivables$7,993 $27,542 $18,308 $11,329 $5,938 $2,120 $73,230 100.0 %
Year of OriginationDecember 31, 2023
 20232022202120202019PriorTotalPercent
Prime - FICO Score 680 and greater$23,940 $15,581 $9,039 $4,926 $1,076 $320 $54,882 75.5 %
Near-prime - FICO Score 620 to 6793,234 2,281 1,746 906 350 129 8,647 11.9 
Sub-prime - FICO Score less than 6203,079 2,397 1,884 1,010 573 257 9,200 12.6 
Retail finance receivables$30,253 $20,259 $12,670 $6,842 $2,000 $707 $72,729 100.0 %
Our dealer risk model and risk rating categories are as follows:
Dealer Risk RatingDescription
IPerforming accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
IIPerforming accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
IIINon-Performing accounts with inadequate paying capacity for current obligations and that have the distinct possibility of creating a loss if deficiencies are not corrected.
IVNon-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection or liquidation in full highly questionable or improbable.
The following tables summarize the dealer credit risk profile by dealer risk rating at March 31, 2024 and December 31, 2023:
Year of OriginationMarch 31, 2024
Dealer Risk RatingRevolving20242023202220212020PriorTotalPercent
I
$12,192 $64 $263 $403 $289 $294 $72 $13,578 96.1 %
II
274 — 3 7 — — — 284 2.0 
III
217 4 5 15 12 — 7 261 1.8 
IV
— — — — — — — — — 
Balance at end of period$12,682 $68 $271 $425 $302 $294 $79 $14,122 100.0 %
Year of OriginationDecember 31, 2023
Dealer Risk RatingRevolving20232022202120202019PriorTotalPercent
I
$11,638 $295 $417 $297 $301 $85 $11 $13,043 97.2 %
II
182 — 2 2 — — — 187 1.4 
III
152 1 15 12 — 11 — 192 1.4 
IV
— — — — — — — — — 
Balance at end of period$11,971 $296 $435 $311 $301 $96 $11 $13,422 100.0 %
Schedule of Past Due Financing Receivables The following tables are consolidated summaries of the amortized cost of retail finance receivables by delinquency status, for each vintage of the portfolio at March 31, 2024 and December 31, 2023, as well as summary totals for March 31, 2023. The first table also presents our charge-offs by vintage for the three months ended March 31, 2024:
Year of OriginationMarch 31, 2024March 31, 2023
20242023202220212020PriorTotalPercentTotalPercent
0 - 30 days$7,973 $27,054 $17,743 $10,856 $5,689 $1,911 $71,225 97.3 %$66,109 97.6 %
31 - 60 days19 342 406 352 188 156 1,463 2.0 1,188 1.8 
Greater than 60 days1 125 140 109 56 50 482 0.7 363 0.5 
Finance receivables more than 30 days delinquent20 467 547 461 245 206 1,945 2.7 1,551 2.3 
In repossession— 21 19 12 4 3 60 0.1 44 0.1 
Finance receivables more than 30 days delinquent or in repossession20 488 566 473 249 209 2,005 2.7 1,595 2.4 
Retail finance receivables$7,993 $27,542 $18,308 $11,329 $5,938 $2,120 $73,230 100.0 %$67,704 100.0 %
Charge-offs$18 $119 $123 $80 $34 $31 $405 
Year of OriginationDecember 31, 2023
20232022202120202019PriorTotalPercent
0 - 30 days$29,816 $19,602 $12,098 $6,533 $1,825 $599 $70,472 96.9 %
31 - 60 days318 470 415 227 130 78 1,637 2.3 
Greater than 60 days102 168 142 76 42 29 559 0.8 
Finance receivables more than 30 days delinquent421 637 557 302 172 107 2,196 3.0 
In repossession17 20 14 6 3 1 61 0.1 
Finance receivables more than 30 days delinquent or in repossession437 657 572 308 175 108 2,257 3.1 
Retail finance receivables$30,253 $20,259 $12,670 $6,842 $2,000 $707 $72,729 100.0 %