v3.26.1
Loans and finance receivables
6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Loans and finance receivables

Note 7. Loans and finance receivables

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

 

June 30,
2026

 

 

December 31,
2025

 

Loans and finance receivables, before allowances and discounts

$

32,937

 

 

$

31,997

 

Allowances for credit losses

 

(1,375

)

 

 

(1,347

)

Unamortized acquisition discounts and points

 

(838

)

 

 

(814

)

 

$

30,724

 

 

$

29,836

 

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

 

2026

 

 

2025

 

Balance at the beginning of the year

$

1,347

 

 

$

1,134

 

Provision for credit losses

 

124

 

 

 

253

 

Charge-offs, net of recoveries

 

(96

)

 

 

(80

)

Balance at June 30

$

1,375

 

 

$

1,307

 

As of June 30, 2026, substantially all manufactured and site-built home loans were evaluated collectively for impairment, and we considered approximately 96% of these loans to be current as to payment status. A summary of performing and non-performing home loans, before allowances and discounts, by year of loan origination as of June 30, 2026 follows (in millions).

 

Origination Year

 

 

 

 

2026

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

Prior

 

 

Total

 

Performing

$

3,374

 

 

$

4,841

 

 

$

5,136

 

 

$

4,247

 

 

$

3,191

 

 

$

11,386

 

 

$

32,175

 

Non-performing

 

2

 

 

 

12

 

 

 

31

 

 

 

32

 

 

 

15

 

 

 

65

 

 

 

157

 

$

3,376

 

 

$

4,853

 

 

$

5,167

 

 

$

4,279

 

 

$

3,206

 

 

$

11,451

 

 

$

32,332