v3.25.2
Loans and finance receivables
6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Loans and finance receivables

Note 7. Loans and finance receivables

Loans and finance receivables are principally manufactured home loans, and to a lesser extent, commercial loans and site-built home loans and are summarized as follows (in millions).

 

June 30,
2025

 

 

December 31,
2024

 

Loans and finance receivables, before allowances and discounts

$

30,819

 

 

$

29,700

 

Allowances for credit losses

 

(1,307

)

 

 

(1,134

)

Unamortized acquisition discounts and points

 

(790

)

 

 

(768

)

 

$

28,722

 

 

$

27,798

 

Reconciliations of the allowance for credit losses on loans and finance receivables follow (in millions).

 

2025

 

 

2024

 

Balance at the beginning of the year

$

1,134

 

 

$

950

 

Provision for credit losses

 

253

 

 

 

116

 

Charge-offs, net of recoveries

 

(80

)

 

 

(51

)

Balance at June 30

$

1,307

 

 

$

1,015

 

 

Notes to Consolidated Financial Statements

Note 7. Loans and finance receivables

As of June 30, 2025, substantially all manufactured and site-built home loans were evaluated collectively for impairment, and we considered approximately 97% of these loans to be current as to payment status. A summary of performing and non-performing home loans before discounts and allowances by year of loan origination as of June 30, 2025 follows (in millions).

 

Origination Year

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Total

 

Performing

$

3,193

 

 

$

5,651

 

 

$

4,738

 

 

$

3,499

 

 

$

2,911

 

 

$

9,899

 

 

$

29,891

 

Non-performing

 

2

 

 

 

15

 

 

 

19

 

 

 

18

 

 

 

16

 

 

 

62

 

 

 

132

 

$

3,195

 

 

$

5,666

 

 

$

4,757

 

 

$

3,517

 

 

$

2,927

 

 

$

9,961

 

 

$

30,023