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Loans and finance receivables | 3 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Loans and finance receivables | Note 7. Loans and finance receivables Loans and finance receivables are summarized as follows (in millions).
| March 31, 2025 |  |  | December 31, 2024 |
Loans and finance receivables, before allowances and discounts | $ | 30,186 |  |  | $ | 29,700 |
Allowances for credit losses |  | (1,276 | ) |  |  | (1,134 | )
Unamortized acquisition discounts and points |  | (779 | ) |  |  | (768 | )
| $ | 28,131 |  |  | $ | 27,798 |
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 follow (in millions).
| 2025 |  |  | 2024 |
Balance at the beginning of the year | $ | 1,134 |  |  | $ | 950 |
Provision for credit losses |  | 183 |  |  |  | 39 |
Charge-offs, net of recoveries |  | (41 | ) |  |  | (16 | )
Balance at March 31 | $ | 1,276 |  |  | $ | 973 |
As of March 31, 2025, 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, 2025 follows (in millions).
| Origination Year |  |  |  |
| 2025 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | Prior |  |  | Total |
Performing | $ | 1,829 |  |  | $ | 5,764 |  |  | $ | 4,857 |  |  | $ | 3,579 |  |  | $ | 2,980 |  |  | $ | 10,204 |  |  | $ | 29,213 |
Non-performing |  | 1 |  |  |  | 11 |  |  |  | 25 |  |  |  | 18 |  |  |  | 19 |  |  |  | 70 |  |  |  | 144 |
| $ | 1,830 |  |  | $ | 5,775 |  |  | $ | 4,882 |  |  | $ | 3,597 |  |  | $ | 2,999 |  |  | $ | 10,274 |  |  | $ | 29,357 |

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- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481933/310-10-55-12A Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 44 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-44 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-20/tableOfContent + Details
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