v3.25.2
Finance Receivables (Tables)
 6 Months Ended
Jun. 30, 2025
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of Finance Receivables, Net
June 30, 2025December 31, 2024
Retail finance receivables
Retail finance receivables(a)
$77,837 $76,066 
Less: allowance for loan losses(2,630)(2,400)
Total retail finance receivables, net75,207 73,667 
Commercial finance receivables
Commercial finance receivables(a)(b)
16,723 19,901 
Less: allowance for loan losses
(91)(58)
Total commercial finance receivables, net16,633 19,843 
Total finance receivables, net$91,840 $93,510 
Fair value utilizing Level 2 inputs$16,633 $19,843 
Fair value utilizing Level 3 inputs$76,842 $74,729 
________________
(a)    Net of unearned income, unamortized premiums and discounts, and deferred fees and costs.
(b)    Includes dealer financing of $16.2 billion and $18.9 billion, and other financing of $571 million and $999 million at June 30, 2025 and December 31, 2024. Commercial finance receivables are presented net of dealer cash management balances of $3.2 billion and $3.4 billion at June 30, 2025 and December 31, 2024.
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 June 30,Six Months Ended June 30,
2025202420252024
Allowance for retail loan losses beginning balance$2,479 $2,320 $2,400 $2,308 
Provision for loan losses349 159 648 364 
Charge-offs(488)(411)(967)(816)
Recoveries270 222 520 434 
Foreign currency translation
19 (28)28 (30)
Allowance for retail loan losses ending balance$2,630 $2,261 $2,630 $2,261 
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 June 30, 2025 and December 31, 2024:
Year of OriginationJune 30, 2025
 20252024202320222021PriorTotalPercent
Prime - FICO Score 680 and greater$13,597 $20,025 $12,446 $7,360 $3,959 $1,810 $59,196 76.1 %
Near-prime - FICO Score 620 to 6792,048 3,046 1,821 1,194 804 393 9,306 12.0 
Sub-prime - FICO Score less than 6201,992 2,992 1,719 1,234 857 541 9,335 12.0 
Retail finance receivables$17,636 $26,063 $15,986 $9,788 $5,620 $2,744 $77,837 100.0 %
Year of OriginationDecember 31, 2024
 20242023202220212020PriorTotalPercent
Prime - FICO Score 680 and greater$24,155 $15,814 $9,749 $5,424 $2,559 $366 $58,067 76.3 %
Near-prime - FICO Score 620 to 6793,547 2,227 1,507 1,077 473 159 8,990 11.8 
Sub-prime - FICO Score less than 6203,399 2,059 1,546 1,141 543 322 9,008 11.8 
Retail finance receivables$31,101 $20,100 $12,802 $7,642 $3,575 $847 $76,066 100.0 %
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 finance receivables portfolio by dealer risk rating at June 30, 2025 and December 31, 2024:
Year of OriginationJune 30, 2025
Dealer Risk RatingRevolving20252024202320222021PriorTotalPercent
I
$13,089 $167 $252 $159 $331 $184 $242 $14,423 89.3 %
II
910 10 27 29 14 36 5 1,031 6.4 
III
587 4 50 5 14 23 15 699 4.3 
IV
— — — — — — — — 0.0 
Balance at end of period$14,586 $181 $329 $192 $359 $243 $263 $16,152 100.0 %
Year of OriginationDecember 31, 2024
Dealer Risk RatingRevolving20242023202220212020PriorTotalPercent
I
$16,429 $350 $211 $360 $237 $267 $32 $17,885 94.6 %
II
621 — 10 26 3 2 — 663 3.5 
III
305 10 4 — 22 — 12 354 1.9 
IV
1 — — — — — — 1 0.0 
Balance at end of period$17,356 $360 $225 $385 $263 $269 $44 $18,902 100.0 %
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 June 30, 2025 and December 31, 2024, as well as summary totals for June 30, 2024. The tables also present gross charge-offs by vintage for the six months ended June 30, 2025 and the year ended December 31, 2024:
Year of OriginationJune 30, 2025June 30, 2024
20252024202320222021PriorTotalPercentTotalPercent
0 - 30 days$17,493 $25,437 $15,415 $9,327 $5,280 $2,523 $75,474 97.0 %$71,211 97.1 %
31 - 60 days103 435 394 325 247 161 1,665 2.1 1,551 2.1 
Greater than 60 days36 167 157 125 85 57 626 0.8 509 0.7 
Finance receivables more than 30 days delinquent139 602 550 450 333 218 2,291 2.9 2,060 2.8 
In repossession4 24 21 11 7 3 71 0.1 64 0.1 
Finance receivables more than 30 days delinquent or in repossession143 626 571 461 340 221 2,362 3.0 2,124 2.9 
Retail finance receivables$17,636 $26,063 $15,986 $9,788 $5,620 $2,744 $77,837 100.0 %$73,335 100.0 %
Gross charge-offs$16 $292 $283 $195 $113 $67 $967 
Year of OriginationDecember 31, 2024
20242023202220212020PriorTotalPercent
0 - 30 days$30,581 $19,411 $12,207 $7,178 $3,350 $710 $73,438 96.5 %
31 - 60 days374 481 425 340 166 99 1,885 2.5 
Greater than 60 days128 188 155 115 55 36 677 0.9 
Finance receivables more than 30 days delinquent502 669 580 455 221 135 2,562 3.4 
In repossession17 19 14 10 3 2 66 0.1 
Finance receivables more than 30 days delinquent or in repossession519 689 595 464 225 136 2,628 3.5 
Retail finance receivables$31,101 $20,100 $12,802 $7,642 $3,575 $847 $76,066 100.0 %
Gross charge-offs$171 $556 $495 $305 $126 $102 $1,754