| Schedule of allowance for credit losses activity |
Allowance for credit losses activity for the three months ended June 30, 2025 is as follows: | | | | | | | | | | | | | | | | | Revolving | | | | | | | | Retail | | Charge | | | | | | | | | Customer | | Accounts | | Wholesale | | Total | Allowance for credit losses: | | | | | | | | | | | | | Beginning balance | | $ | 114,498 | | $ | 8,164 | | $ | 7,407 | | $ | 130,069 | Charge-offs | | | (12,496) | | | (1,577) | | | — | | | (14,073) | Recoveries | | | 436 | | | 242 | | | 6 | | | 684 | Provision (benefit) | | | 23,054 | | | 1,571 | | | (181) | | | 24,444 | Foreign currency translation and other | | | 458 | | | 28 | | | 50 | | | 536 | Ending balance | | $ | 125,950 | | $ | 8,428 | | $ | 7,282 | | $ | 141,660 |
Allowance for credit losses activity for the six months ended June 30, 2025 is as follows: | | | | | | | | | | | | | | | | | | Revolving | | | | | | | | | Retail | | Charge | | | | | | | | | Customer | | Accounts | | Wholesale | | Total | Allowance for credit losses: | | | | | | | | | | | | | Beginning balance | | $ | 114,935 | | $ | 7,603 | | $ | 7,445 | | $ | 129,983 | Charge-offs | | | (28,456) | | | (3,087) | | | (34) | | | (31,577) | Recoveries | | | 709 | | | 439 | | | 8 | | | 1,156 | Provision (benefit) | | | 38,285 | | | 3,444 | | | (189) | | | 41,540 | Foreign currency translation and other | | | 477 | | | 29 | | | 52 | | | 558 | Ending balance | | $ | 125,950 | | $ | 8,428 | | $ | 7,282 | | $ | 141,660 | Gross receivables: | | | | | | | | | | | | | Ending balance | | $ | 9,204,652 | | $ | 268,530 | | $ | 4,668,619 | | $ | 14,141,801 |
The allowance for credit losses increased during the first six months of 2025, primarily due to a rise in delinquency rates, which necessitated higher specific reserve needs. Allowance for credit losses activity for the three months ended June 30, 2024 is as follows: | | | | | | | | | | | | | | | | | | Revolving | | | | | | | | | Retail | | Charge | | | | | | | | | Customer | | Accounts | | Wholesale | | Total | Allowance for credit losses: | | | | | | | | | | | | | Beginning balance, as previously reported | | $ | 104,244 | | $ | 8,396 | | $ | 5,725 | | $ | 118,365 | Charge-offs | | | (6,034) | | | (1,146) | | | — | | | (7,180) | Recoveries | | | 910 | | | 206 | | | 8 | | | 1,124 | Provision | | | 7,116 | | | 2,302 | | | 2,353 | | | 11,771 | Foreign currency translation and other | | | (91) | | | (7) | | | (11) | | | (109) | Ending balance | | $ | 106,145 | | $ | 9,751 | | $ | 8,075 | | $ | 123,971 |
Allowance for credit losses activity for the six months ended June 30, 2024 is as follows: | | | | | | | | | | | | | | | | | | Revolving | | | | | | | | | Retail | | Charge | | | | | | | | | Customer | | Accounts | | Wholesale | | Total | Allowance for credit losses: | | | | | | | | | | | | | Beginning balance | | $ | 101,649 | | $ | 7,594 | | $ | 5,502 | | $ | 114,745 | Charge-offs | | | (11,887) | | | (2,296) | | | — | | | (14,183) | Recoveries | | | 1,185 | | | 302 | | | 21 | | | 1,508 | Provision | | | 15,529 | | | 4,170 | | | 2,584 | | | 22,283 | Foreign currency translation and other | | | (331) | | | (19) | | | (32) | | | (382) | Ending balance | | $ | 106,145 | | $ | 9,751 | | $ | 8,075 | | $ | 123,971 | Gross receivables: | | | | | | | | | | | | | Ending balance | | $ | 8,504,298 | | $ | 259,572 | | $ | 5,768,906 | | $ | 14,532,776 |
|
| Schedule of aging of financing receivables |
The aging of receivables by vintage as of June 30, 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Greater | | | | | | | | | | | | | | 31 – 60 Days | | 61 – 90 Days | | Than | | Total | | | | | Total | | Gross | | | Past Due | | Past Due | | 90 Days | | Past Due | | Current | | Receivables | | Charge-offs | Retail customer | | | | | | | | | | | | | | | | | | | | | | United States | | | | | | | | | | | | | | | | | | | | | | 2025 | | $ | 3,810 | | $ | 501 | | $ | 106 | | $ | 4,417 | | $ | 1,596,312 | | $ | 1,600,729 | | $ | 54 | 2024 | | | 27,168 | | | 9,213 | | | 6,584 | | | 42,965 | | | 2,682,701 | | | 2,725,666 | | | 3,181 | 2023 | | | 18,686 | | | 6,426 | | | 13,570 | | | 38,682 | | | 1,503,962 | | | 1,542,644 | | | 11,565 | 2022 | | | 8,720 | | | 3,332 | | | 6,349 | | | 18,401 | | | 985,556 | | | 1,003,957 | | | 4,609 | 2021 | | | 5,353 | | | 1,895 | | | 4,980 | | | 12,228 | | | 447,819 | | | 460,047 | | | 1,714 | Prior to 2021 | | | 1,786 | | | 380 | | | 37,633 | | | 39,799 | | | 141,200 | | | 180,999 | | | 4,242 | Total | | $ | 65,523 | | $ | 21,747 | | $ | 69,222 | | $ | 156,492 | | $ | 7,357,550 | | $ | 7,514,042 | | $ | 25,365 | Canada | | | | | | | | | | | | | | | | | | | | | | 2025 | | $ | 581 | | $ | — | | $ | 63 | | $ | 644 | | $ | 472,814 | | $ | 473,458 | | $ | — | 2024 | | | 1,971 | | | 329 | | | 495 | | | 2,795 | | | 654,462 | | | 657,257 | | | 946 | 2023 | | | 1,585 | | | 888 | | | 422 | | | 2,895 | | | 213,115 | | | 216,010 | | | 1,174 | 2022 | | | 1,252 | | | 203 | | | 440 | | | 1,895 | | | 181,255 | | | 183,150 | | | 502 | 2021 | | | 871 | | | 107 | | | 617 | | | 1,595 | | | 121,270 | | | 122,865 | | | 388 | Prior to 2021 | | | 291 | | | 122 | | | 195 | | | 608 | | | 37,262 | | | 37,870 | | | 81 | Total | | $ | 6,551 | | $ | 1,649 | | $ | 2,232 | | $ | 10,432 | | $ | 1,680,178 | | $ | 1,690,610 | | $ | 3,091 | Revolving charge accounts | | | | | | | | | | | | | | | | | | | | | | United States | | $ | 5,394 | | $ | 2,456 | | $ | 1,328 | | $ | 9,178 | | $ | 239,513 | | $ | 248,691 | | $ | 2,893 | Canada | | $ | 472 | | $ | 183 | | $ | 100 | | $ | 755 | | $ | 19,084 | | $ | 19,839 | | $ | 194 | Wholesale | | | | | | | | | | | | | | | | | | | | | | United States | | $ | 20 | | $ | 4 | | $ | 93 | | $ | 117 | | $ | 3,607,751 | | $ | 3,607,868 | | $ | 34 | Canada | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 1,060,751 | | $ | 1,060,751 | | $ | — | Total | | | | | | | | | | | | | | | | | | | | | | Retail customer | | $ | 72,074 | | $ | 23,396 | | $ | 71,454 | | $ | 166,924 | | $ | 9,037,728 | | $ | 9,204,652 | | $ | 28,456 | Revolving charge accounts | | $ | 5,866 | | $ | 2,639 | | $ | 1,428 | | $ | 9,933 | | $ | 258,597 | | $ | 268,530 | | $ | 3,087 | Wholesale | | $ | 20 | | $ | 4 | | $ | 93 | | $ | 117 | | $ | 4,668,502 | | $ | 4,668,619 | | $ | 34 |
The aging of receivables by vintage as of December 31, 2024 is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Greater | | | | | | | | | | | | | | | 31 – 60 Days | | 61 – 90 Days | | Than | | Total | | | | | Total | | Gross | | | Past Due | | Past Due | | 90 Days | | Past Due | | Current | | Receivables | | Charge-offs | Retail customer | | | | | | | | | | | | | | | | | | | | | | United States | | | | | | | | | | | | | | | | | | | | | | 2024 | | $ | 11,150 | | $ | 2,177 | | $ | 2,530 | | $ | 15,857 | | $ | 3,396,385 | | $ | 3,412,242 | | $ | 1,168 | 2023 | | | 14,713 | | | 5,758 | | | 11,439 | | | 31,910 | | | 1,899,459 | | | 1,931,369 | | | 9,538 | 2022 | | | 10,027 | | | 3,499 | | | 9,858 | | | 23,384 | | | 1,200,888 | | | 1,224,272 | | | 7,902 | 2021 | | | 6,764 | | | 1,679 | | | 4,865 | | | 13,308 | | | 610,425 | | | 623,733 | | | 4,107 | 2020 | | | 3,037 | | | 657 | | | 30,779 | | | 34,473 | | | 202,608 | | | 237,081 | | | 2,552 | Prior to 2020 | | | 925 | | | 430 | | | 3,916 | | | 5,271 | | | 47,538 | | | 52,809 | | | 2,250 | Total | | $ | 46,616 | | $ | 14,200 | | $ | 63,387 | | $ | 124,203 | | $ | 7,357,303 | | $ | 7,481,506 | | $ | 27,517 | Canada | | | | | | | | | | | | | | | | | | | | | | 2024 | | $ | 4,929 | | $ | 520 | | $ | 74 | | $ | 5,523 | | $ | 821,811 | | $ | 827,334 | | $ | 130 | 2023 | | | 1,326 | | | — | | | 835 | | | 2,161 | | | 281,729 | | | 283,890 | | | 1,241 | 2022 | | | 1,755 | | | 731 | | | 673 | | | 3,159 | | | 222,266 | | | 225,425 | | | 1,054 | 2021 | | | 912 | | | 123 | | | 653 | | | 1,688 | | | 158,451 | | | 160,139 | | | 797 | 2020 | | | 410 | | | 68 | | | 248 | | | 726 | | | 49,125 | | | 49,851 | | | 505 | Prior to 2020 | | | 23 | | | 2 | | | 33 | | | 58 | | | 11,605 | | | 11,663 | | | 674 | Total | | $ | 9,355 | | $ | 1,444 | | $ | 2,516 | | $ | 13,315 | | $ | 1,544,987 | | $ | 1,558,302 | | $ | 4,401 | Revolving charge accounts | | | | | | | | | | | | | | | | | | | | | | United States | | $ | 6,303 | | $ | 2,447 | | $ | 1,360 | | $ | 10,110 | | $ | 209,241 | | $ | 219,351 | | $ | 4,993 | Canada | | $ | 1,478 | | $ | 555 | | $ | 183 | | $ | 2,216 | | $ | 14,073 | | $ | 16,289 | | $ | 306 | Wholesale | | | | | | | | | | | | | | | | | | | | | | United States | | $ | 22 | | $ | — | | $ | 225 | | $ | 247 | | $ | 3,858,213 | | $ | 3,858,460 | | $ | — | Canada | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 988,631 | | $ | 988,631 | | $ | — | Total | | | | | | | | | | | | | | | | | | | | | | Retail customer | | $ | 55,971 | | $ | 15,644 | | $ | 65,903 | | $ | 137,518 | | $ | 8,902,290 | | $ | 9,039,808 | | $ | 31,918 | Revolving charge accounts | | $ | 7,781 | | $ | 3,002 | | $ | 1,543 | | $ | 12,326 | | $ | 223,314 | | $ | 235,640 | | $ | 5,299 | Wholesale | | $ | 22 | | $ | — | | $ | 225 | | $ | 247 | | $ | 4,846,844 | | $ | 4,847,091 | | $ | — |
|