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Loans and finance receivables | 3 Months Ended
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Mar. 31, 2024
Receivables [Abstract] |
Loans and finance receivables | Note 8. Loans and finance receivables Loans and finance receivables are summarized as follows (in millions).
| March 31, 2024 |  |  | December 31, 2023 |
Loans and finance receivables before allowances and discounts | $ | 27,082 |  |  | $ | 26,289 |
Allowances for credit losses |  | (973 | ) |  |  | (950 | )
Unamortized acquisition discounts and points |  | (674 | ) |  |  | (658 | )
| $ | 25,435 |  |  | $ | 24,681 |
Loans and finance receivables are principally manufactured home loans, and to a lesser extent, commercial loans and site-built home loans. Reconciliations of the allowance for credit losses on loans and finance receivables for the first quarter of 2024 and 2023 follow (in millions).
| First Quarter |
| 2024 |  |  | 2023 |
Balance at the beginning of the year | $ | 950 |  |  | $ | 856 |
Provision for credit losses |  | 39 |  |  |  | 37 |
Charge-offs, net of recoveries |  | (16 | ) |  |  | (17 | )
Balance at March 31 | $ | 973 |  |  | $ | 876 |
As of March 31, 2024, 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 March 31, 2024 follows (in millions).
| Origination Year |  |  |  |
| 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Total |
Performing | $ | 1,971 |  |  | $ | 5,432 |  |  | $ | 3,892 |  |  | $ | 3,258 |  |  | $ | 2,523 |  |  | $ | 8,980 |  |  | $ | 26,056 |
Non-performing |  | 2 |  |  |  | 10 |  |  |  | 13 |  |  |  | 16 |  |  |  | 12 |  |  |  | 60 |  |  |  | 113 |
| $ | 1,973 |  |  | $ | 5,442 |  |  | $ | 3,905 |  |  | $ | 3,274 |  |  | $ | 2,535 |  |  | $ | 9,040 |  |  | $ | 26,169 |
We are also a lender under commercial loan agreements. These loans had an aggregate carrying value of approximately $810 million at March 31, 2024 and $850 million at December 31, 2023. These loans are generally secured by real estate properties or by other assets and are individually evaluated for expected credit losses.

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