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Loans and finance receivables | 12 Months Ended
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Dec. 31, 2024
Receivables [Abstract] |
Loans and finance receivables | (7) Loans and finance receivables Loans and finance receivables are summarized as follows (in millions).
| December 31, |
| 2024 |  |  | 2023 |
Loans and finance receivables, before allowances and discounts | $ | 29,700 |  |  | $ | 26,289 |
Allowances for credit losses |  | (1,134 | ) |  |  | (950 | )
Unamortized acquisition discounts and points |  | (768 | ) |  |  | (658 | )
| $ | 27,798 |  |  | $ | 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 each of the three years ending December 31, 2024 follow (in millions).
| 2024 |  |  | 2023 |  |  | 2022 |
Balance at the beginning of the year | $ | 950 |  |  | $ | 856 |  |  | $ | 765 |
Provision for credit losses |  | 298 |  |  |  | 169 |  |  |  | 124 |
Charge-offs, net of recoveries |  | (114 | ) |  |  | (75 | ) |  |  | (33 | )
Balance at December 31 | $ | 1,134 |  |  | $ | 950 |  |  | $ | 856 |
Notes to Consolidated Financial Statements (7) Loans and finance receivables At December 31, 2024, substantially all manufactured and site-built home loan balances 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 discounts and credit loss allowances, by year of loan origination as of December 31, 2024 follows (in millions).
| Origination Year |  |  |  |
| 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Total |
Performing | $ | 6,578 |  |  | $ | 4,969 |  |  | $ | 3,651 |  |  | $ | 3,052 |  |  | $ | 2,358 |  |  | $ | 8,172 |  |  | $ | 28,780 |
Non-performing |  | 13 |  |  |  | 22 |  |  |  | 16 |  |  |  | 11 |  |  |  | 10 |  |  |  | 45 |  |  |  | 117 |
| $ | 6,591 |  |  | $ | 4,991 |  |  | $ | 3,667 |  |  | $ | 3,063 |  |  | $ | 2,368 |  |  | $ | 8,217 |  |  | $ | 28,897 |

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