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


	September 30, 2025			December 31, 2024
Loans and finance receivables, before allowances and discounts	$	31,450		$	29,700
Allowances for credit losses		(1,323	)		(1,134	)
Unamortized acquisition discounts and points		(800	)		(768	)
	$	29,327		$	27,798

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		314			180
Charge-offs, net of recoveries		(125	)		(79	)
Balance at September 30	$	1,323		$	1,051

As of September 30, 2025, 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 discounts and allowances, by year of loan origination as of September 30, 2025 follows (in millions).


	Origination Year
	2025		2024		2023		2022		2021		Prior		Total
Performing	$	4,512	$	5,527	$	4,611	$	3,421	$	2,845	$	9,590	$	30,506
Non-performing		2		18		25		18		15		59		137
	$	4,514	$	5,545	$	4,636	$	3,439	$	2,860	$	9,649	$	30,643