v3.25.2
RECEIVABLES (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Financing Receivables
A summary of financing receivables as of June 30, 2025 and December 31, 2024 is as follows (in millions of dollars):
June 30, 2025December 31, 2024
Retail$14,640 $14,297 
Wholesale8,699 8,749 
Other48 39 
Total$23,387 $23,085 
Schedule of Carrying Amount of Restricted Assets At June 30, 2025 and December 31, 2024, the carrying amount of such restricted assets included in financing receivables are the following (in millions of dollars):
June 30, 2025December 31, 2024
Retail$8,107 $8,692 
Wholesale5,336 5,246 
Total$13,443 $13,938 
Schedule of Allowance for Credit Loss Activity
Allowance for credit losses for the three and six months ended June 30, 2025 and 2024 is as follows (in millions of dollars):
Three Months Ended June 30, 2025Six Months Ended June 30, 2025
RetailWholesaleRetailWholesale
Balance at beginning of period$420 $49 $376 $48 
Provision81 — 131 — 
Charge-offs(31)(1)(60)(1)
Recoveries4 1 7 1 
Foreign currency translation and other15 2 35 3 
Balance at end of period$489 $51 $489 $51 
Three Months Ended June 30, 2024Six Months Ended June 30, 2024
RetailWholesaleRetailWholesale
Balance at beginning of period$330 $50 $310 $53 
Provision52 3 90 2 
Charge-offs(42)— (53)(1)
Recoveries2 — 1 — 
Foreign currency translation and other(20)(2)(26)(3)
Balance at end of period$322 $51 $322 $51 
Schedule of Aging of Financing Receivables And Charge Offs
The aging of financing receivables and charge-offs by vintage as of June 30, 2025 is as follows (in millions of dollars, net of allowance for credit losses):
31-60 Days
Past Due		61-90 Days
Past Due		Total Past
Due		CurrentTotal
Performing		Non-
Performing		TotalGross Charge-offs
Retail
North America
2025$2,319 $3 $2,322 $2 
20243,341 8 3,349 5 
20231,725 7 1,732 13 
20221,168 3 1,171 5 
2021571 2 573 2 
Prior to 2021179 1 180 5 
Total77 6 83 9,220 9,303 24 9,327 32 
South America
2025561 1 562 — 
20241,307 20 1,327 2 
20231,131 36 1,167 15 
2022457 30 487 7 
2021229 9 238 1 
Prior to 2021115 3 118 1 
Total358 2 360 3,440 3,800 99 3,899 26 
Asia Pacific
2025316 — 316 — 
2024477 — 477 — 
2023315 1 316 — 
2022190 1 191 1 
202176 1 77 — 
Prior to 202119 — 19 1 
Total8 4 12 1,381 1,393 3 1,396 2 
Europe, Middle East, Africa— — — 7 7 11 18 — 
Total Retail$443 $12 $455 $14,048 $14,503 $137 $14,640 $60 
Wholesale
North America$— $— $— $4,649 $4,649 $13 $4,662 $— 
South America— — — 952 952 1 953 — 
Asia Pacific3 1 4 812 816 — 816 1 
Europe, Middle East, Africa5 — 5 2,263 2,268 — 2,268 — 
Total Wholesale$8 $1 $9 $8,676 $8,685 $14 $8,699 $1 
The aging of financing receivables and charge-offs by vintage as of December 31, 2024 is as follows (in millions of dollars, net of allowance for credit losses):
31-60 Days
Past Due		61-90 Days
Past Due		Total Past
Due		CurrentTotal
Performing		Non-
Performing		TotalGross Charge-offs
Retail
North America
2024$4,485 $5 $4,490 $5 
20232,145 6 2,151 12 
20221,421 4 1,425 9 
2021766 2 768 5 
2020249 1 250 3 
Prior to 202058 1 59 3 
Total64 4 68 9,056 9,124 19 9,143 37 
South America
20241,400 5 1,405 — 
20231,255 26 1,281 2 
2022518 26 544 24 
2021287 8 295 12 
2020127 2 129 4 
Prior to 202065 1 66 3 
Total29 1 30 3,622 3,652 68 3,720 45 
Asia Pacific
2024563 — 563 — 
2023402 1 403 1 
2022276 1 277 1 
2021129 — 129 1 
202041 — 41 2 
Prior to 20203 — 3 2 
Total4 3 7 1,407 1,414 2 1,416 7 
Europe, Middle East, Africa— — — 11 11 7 18 — 
Total Retail$97 $8 $105 $14,096 $14,201 $96 $14,297 $89 
Wholesale
North America$— $— $— $4,817 $4,817 $23 $4,840 $— 
South America— — — 1,048 1,048 — 1,048 — 
Asia Pacific2 1 3 883 886 1 887 2 
Europe, Middle East, Africa7 — 7 1,967 1,974 — 1,974 5 
Total Wholesale$9 $1 $10 $8,715 $8,725 $24 $8,749 $7