v3.26.3
Finance Receivables, Net (Tables)
 9 Months Ended
Sep. 30, 2026
Financing Receivable, after Allowance for Credit Loss [Abstract]  
Schedule of Finance Receivables
Finance receivables, net were as follows:
September 30,
2026		December 31,
2025
Gross receivables$1,427 $1,643 
Unearned income(176)(196)
Subtotal1,251 1,447 
Residual values— — 
Allowance for doubtful credit losses(1)
(42)(45)
Finance receivables, net1,209 1,402 
Less: Billed portion of finance receivables, net36 46 
Less: Current portion of finance receivables not billed, net438 510 
Finance receivables due after one year, net$735 $846 
____________
(1)Reflects the allowance for doubtful credit losses related to (i) Billed portion of finance receivables of $3 and $3, and (ii) the current and non-current portions of finance receivables of $39 and $42 as of September 30, 2026 and December 31, 2025, respectively.
Schedule of Allowance for Credit Losses, Financing Receivables
The allowance for doubtful credit losses as well as the related investment in finance receivables were as follows:
United StatesCanadaEMEA
Other(2)
Total
Balance at December 31, 2025
$24 $5 $16 $— $45 
Provision— — 2 — 2 
Charge-offs, net(1)— (1)— (2)
Other(1)
— — — — — 
Balance at March 31, 2026$23 $5 $17 $— $45 
Provision2 1 1 — 4 
Charge-offs, net(2)(1)(2)— (5)
Other(1)
— — — — — 
Balance at June 30, 2026$23 $5 $16 $— $44 
Provision1 — — — 1 
Charge-offs, net(1)— (2)— (3)
Other(1)
— — — — — 
Balance at September 30, 2026(2)
$23 $5 $14 $— $42 
Balance at December 31, 2024
$29 $5 $23 $— $57 
Provision(1)1 5 — 5 
Charge-offs, net(3)(1)(6)— (10)
Other(1)
— — 1 — 1 
Balance at March 31, 2025$25 $5 $23 $— $53 
Provision5 — 3 — 8 
Charge-offs, net(3)— (4)— (7)
Other(1)
(1)1 1 — 1 
Balance at June 30, 2025$26 $6 $23 $— $55 
Provision3 — 1 — 4 
Charge-offs, net(2)— (4)— (6)
Other(1)
— — — — — 
Balance at September 30, 2025$27 $6 $20 $— $53 
_____________
(1)Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations.
(2)As a result of the Lexmark Acquisition on July 1, 2025, Other includes finance receivables of Latin America, Asia Pacific and South Africa. However, the related allowance for doubtful credit losses of the Other geography as of September 30, 2026 and 2025 was nil, respectively. Refer to Note 6 - Acquisition for additional information regarding the Lexmark Acquisition.
Schedule of Credit Quality Indicators for Financing Receivables Details about our finance receivables portfolio, on a gross basis, based on geography, origination year and credit quality indicators are as follows:
September 30, 2026
20262025202420232022PriorTotal
Finance
Receivables
United States (Direct)
Low Credit Risk$93 $84 $52 $31 $8 $1 $269 
Average Credit Risk27 15 14 18 4 2 80 
High Credit Risk31 18 15 11 5 2 82 
Total $151 $117 $81 $60 $17 $5 $431 
Charge-offs$— $— $1 $1 $— $1 $3 
United States (Indirect)
Low Credit Risk$1 $1 $3 $6 $7 $1 $19 
Average Credit Risk1 3 5 14 10 1 34 
High Credit Risk5 8 7 8 2 — 30 
Total$7 $12 $15 $28 $19 $2 $83 
Charge-offs$— $— $— $2 $2 $— $4 
Canada
Low Credit Risk$17 $25 $15 $8 $2 $— $67 
Average Credit Risk19 23 15 10 3 1 71 
High Credit Risk2 3 3 1 1 — 10 
Total$38 $51 $33 $19 $6 $1 $148 
Charge-offs$— $1 $— $— $1 $— $2 
EMEA
Low Credit Risk$88 $95 $55 $59 $26 $4 $327 
Average Credit Risk52 53 33 51 27 5 221 
High Credit Risk5 7 3 7 3 1 26 
Total$145 $155 $91 $117 $56 $10 $574 
Charge-offs$— $1 $— $4 $1 $1 $7 
Other
Low Credit Risk$2 $6 $3 $2 $1 $— $14 
Average Credit Risk1 — — — — — 1 
High Credit Risk— — — — — — — 
Total$3 $6 $3 $2 $1 $— $15 
Charge-offs$— $— $— $— $— $— $— 
Total Finance Receivables
Low Credit Risk$201 $211 $128 $106 $44 $6 $696 
Average Credit Risk100 94 67 93 44 9 407 
High Credit Risk43 36 28 27 11 3 148 
Total$344 $341 $223 $226 $99 $18 $1,251 
Total Charge-offs$— $2 $1 $7 $4 $2 $16 
December 31, 2025
20252024202320222021PriorTotal
Finance
Receivables
United States (Direct)
Low Credit Risk$102 $66 $48 $19 $7 $1 $243 
Average Credit Risk49 31 41 14 13 2 150 
High Credit Risk24 23 18 13 5 2 85 
Total $175 $120 $107 $46 $25 $5 $478 
Charge-offs$— $1 $3 $2 $1 $2 $9 
United States (Indirect)
Low Credit Risk$2 $4 $10 $15 $6 $— $37 
Average Credit Risk12 7 25 22 6 1 73 
High Credit Risk— 8 13 5 2 — 28 
Total$14 $19 $48 $42 $14 $1 $138 
Charge-offs$— $— $4 $4 $2 $1 $11 
Canada
Low Credit Risk$31 $20 $13 $4 $1 $— $69 
Average Credit Risk29 20 13 7 2 — 71 
High Credit Risk4 3 2 1 1 — 11 
Total$64 $43 $28 $12 $4 $— $151 
Charge-offs$— $1 $1 $1 $— $— $3 
EMEA
Low Credit Risk$135 $76 $96 $51 $14 $4 $376 
Average Credit Risk68 45 79 49 13 3 257 
High Credit Risk8 5 10 4 2 1 30 
Total$211 $126 $185 $104 $29 $8 $663 
Charge-offs$5 $3 $7 $4 $1 $— $20 
Other
Low Credit Risk$7 $4 $3 $1 $— $— $15 
Average Credit Risk— 1 1 — — — 2 
High Credit Risk— — — — — — — 
Total$7 $5 $4 $1 $— $— $17 
Charge-offs$— $— $— $— $— $— $— 
Total Finance Receivables
Low Credit Risk$277 $170 $170 $90 $28 $5 $740 
Average Credit Risk158 104 159 92 34 6 553 
High Credit Risk36 39 43 23 10 3 154 
Total$471 $313 $372 $205 $72 $14 $1,447 
Total Charge-offs$5 $5 $15 $11 $4 $3 $43 
Schedule of Aging of Billed Finance Receivables
The aging of our billed finance receivables is as follows:
September 30, 2026
Current
31-90
Days
Past Due
>90 Days
Past Due
Total BilledUnbilled
Total
Finance
Receivables
>90 Days
and
Accruing
Direct $13 $5 $3 $21 $410 $431 $35 
Indirect3 1 1 5 78 83 — 
Total United States16 6 4 26 488 514 35 
Canada2 2 1 5 143 148 5 
EMEA4 2 1 7 567 574 18 
Other1 — — 1 14 15 — 
Total$23 $10 $6 $39 $1,212 $1,251 $58 
December 31, 2025
Current
31-90
Days
Past Due
>90 Days
Past Due
Total BilledUnbilled
Total
Finance
Receivables
>90 Days
and
Accruing
Direct$18 $5 $4 $27 $451 $478 $35 
Indirect4 2 2 8 130 138 — 
Total United States22 7 6 35 581 616 35 
Canada3 1 — 4 147 151 4 
EMEA8 1 1 10 653 663 17 
Other— — — — 17 17 — 
Total$33 $9 $7 $49 $1,398 $1,447 $56 
Schedule of Financing Receivable Sale Activity
Finance receivable sales activity was as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Finance receivable sales - net proceeds(1)
$— $103 $122 $214 
Gain on sale/Commissions(2)
— 4 4 13 
Servicing revenue(2)
$1 $1 $5 $4 
_____________
(1)Cash proceeds are reported in Net cash used in operating activities.
(2)Recorded as Other revenue within Services, maintenance, rentals and other. Amounts include revenues associated with the sale of the underlying leased equipment.