We monitor the credit quality of financing receivables based on delinquency status, defined as follows:

The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, retail customer receivables) by year of origination was as follows:


	July 28, 2024
	2024		2023		2022		2021		2020		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	10,349	$	9,686	$	5,849	$	3,286	$	1,276	$	394	$	4,409	$	35,249
30-59 days past due		37		90		56		28		10		4		31		256
60-89 days past due		15		65		25		12		5		2		10		134
90+ days past due				1		1		2		5						9
Non-performing		12		101		85		59		24		17		15		313
Construction and forestry
Current		2,261		2,067		1,249		583		147		60		111		6,478
30-59 days past due		40		59		34		14		4		1		4		156
60-89 days past due		12		25		14		9		2		1		1		64
90+ days past due		1		5		2		2				1				11
Non-performing		21		94		72		38		13		6		2		246
Total retail customer receivables	$	12,748	$	12,193	$	7,387	$	4,033	$	1,486	$	486	$	4,583	$	42,916


	October 29, 2023
	2023		2022		2021		2020		2019		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	15,191	$	8,430	$	5,120	$	2,334	$	853	$	280	$	4,526	$	36,734
30-59 days past due		62		75		39		21		9		3		29		238
60-89 days past due		18		26		18		10		4		2		9		87
90+ days past due		2		1		3		3								9
Non-performing		30		78		62		33		22		22		8		255
Construction and forestry
Current		2,927		1,961		1,084		353		84		29		119		6,557
30-59 days past due		49		34		27		9		4				4		127
60-89 days past due		19		14		12		5		2				2		54
90+ days past due				6		1						1				8
Non-performing		42		80		55		23		9		4		1		214
Total retail customer receivables	$	18,340	$	10,705	$	6,421	$	2,791	$	987	$	341	$	4,698	$	44,283


	July 30, 2023
	2023		2022		2021		2020		2019		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf
Current	$	10,554	$	9,701	$	5,792	$	2,779	$	1,080	$	402	$	4,388	$	34,696
30-59 days past due		59		85		53		26		13		4		21		261
60-89 days past due		19		30		17		10		5		1		7		89
90+ days past due				1												1
Non-performing		19		80		71		36		24		27		8		265
Construction and forestry
Current		2,167		2,200		1,284		449		124		39		114		6,377
30-59 days past due		39		46		38		13		5		2		4		147
60-89 days past due		12		23		16		8		2		1		1		63
90+ days past due				2		1		1								4
Non-performing		20		83		61		26		11		5		1		207
Total retail customer receivables	$	12,889	$	12,251	$	7,333	$	3,348	$	1,264	$	481	$	4,544	$	42,110

The credit quality analysis of wholesale receivables by year of origination was as follows:


	July 28, 2024
	2024		2023		2022		2021		2020		Prior Years		Revolving		Total
Wholesale receivables:
Agriculture and turf
Current	$	557	$	232	$	36	$	7	$	1	$	1	$	7,326	$	8,160
30+ days past due		1														1
Non-performing												1				1
Construction and forestry
Current		13		12		4		19						1,260		1,308
30+ days past due														3		3
Non-performing
Total wholesale receivables	$	571	$	244	$	40	$	26	$	1	$	2	$	8,589	$	9,473


	October 29, 2023
	2023		2022		2021		2020		2019		Prior Years		Revolving		Total
Wholesale receivables:
Agriculture and turf
Current	$	631	$	93	$	21	$	4	$	1	$	160	$	5,175	$	6,085
30+ days past due
Non-performing										1						1
Construction and forestry
Current		23		5		20						76		712		836
30+ days past due
Non-performing
Total wholesale receivables	$	654	$	98	$	41	$	4		2	$	236	$	5,887	$	6,922


	July 30, 2023
	2023		2022		2021		2020		2019		Prior Years		Revolving		Total
Wholesale receivables:
Agriculture and turf
Current	$	449	$	139	$	28	$	7	$	1	$	1	$	4,940	$	5,565
30+ days past due
Non-performing										1						1
Construction and forestry
Current		20		6		23		1				1		752		803
30+ days past due
Non-performing
Total wholesale receivables	$	469	$	145	$	51	$	8	$	2	$	2	$	5,692	$	6,369

An analysis of the allowance for credit losses and investment in financing receivables follows:


	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total

Three Months Ended July 28, 2024
Allowance:
Beginning of period balance	$	207	$	21	$	2	$	230
Provision		84		25				109
Provision reversal for assets held for sale		(38)						(38)
Provision subtotal		46		25				71
Write-offs		(45)		(46)				(91)
Recoveries		4		8				12
Translation adjustments		(3)						(3)
End of period balance	$	209	$	8	$	2	$	219

Nine Months Ended July 28, 2024
Allowance:
Beginning of period balance	$	172	$	21	$	4	$	197
Provision		183		46				229
Provision reversal for assets held for sale		(38)						(38)
Provision subtotal		145		46				191
Write-offs		(112)		(81)				(193)
Recoveries		9		22				31
Translation adjustments		(5)				(2)		(7)
End of period balance	$	209	$	8	$	2	$	219

Financing receivables:
End of period balance	$	38,333	$	4,583	$	9,473	$	52,389


	Retail Notes		Revolving
	& Financing		Charge		Wholesale
	Leases		Accounts		Receivables		Total

Three Months Ended July 30, 2023
Allowance:
Beginning of period balance	$	157	$	19	$	4	$	180
Provision		14		11				25
Write-offs		(23)		(18)				(41)
Recoveries		5		6				11
Translation adjustments		1						1
End of period balance	$	154	$	18	$	4	$	176

Nine Months Ended July 30, 2023
Allowance:
Beginning of period balance	$	299	$	22	$	4	$	325
Provision		59		15		1		75
Provision reversal for assets held for sale		(142)						(142)
Provision (credit) subtotal		(83)		15		1		(67)
Write-offs		(60)		(36)				(96)
Recoveries		15		17				32
Translation adjustments		(17)				(1)		(18)
End of period balance	$	154	$	18	$	4	$	176

Financing receivables:
End of period balance	$	37,566	$	4,544	$	6,369	$	48,479

In the third quarter of 2024, we determined that the financial services business in Brazil met the held for sale criteria. The receivables in Brazil were reclassified to “Assets held for sale.” The associated allowance for credit losses was reversed and a valuation allowance for the assets held for sale was recorded (see Note 21). Excluding the business in Brazil, the allowance for credit losses on retail notes and financing lease receivables increased in the third quarter and first nine months of 2024,

primarily due to higher expected losses as a result of elevated delinquencies and a decline in market conditions. This increase was partially offset by a decrease in the allowance on revolving charge accounts, driven by write-offs of seasonal financing program accounts and recoveries expected on those accounts in the future.

In the first quarter of 2023, the financial services business in Russia met the held for sale criteria. The allowance for credit losses for the financing receivables in Russia was reversed and a valuation allowance for the assets held for sale was recorded. These operations were sold in the second quarter of 2023 (see Note 20).


	Nine Months Ended July 28, 2024
	2024		2023		2022		2021		2020		Prior Years		Revolving Charge Accounts		Total
Retail customer receivables:
Agriculture and turf	$	2	$	17	$	17	$	6	$	7	$	3	$	75	$	127
Construction and forestry		2		23		21		8		4		2		6		66
Total retail customer receivables	$	4	$	40	$	38	$	14	$	11	$	5	$	81	$	193

We occasionally grant contractual modifications to customers experiencing financial difficulties. Before offering a modification, we evaluate the ability of the customer to meet the modified payment terms. Modifications offered include payment deferrals, term extensions, or a combination thereof. Finance charges continue to accrue during the deferral or extension period with the exception of modifications related to bankruptcy proceedings. Our allowance for credit losses incorporates historical loss information, including the effects of loan modifications with customers. Therefore, additional adjustments to the allowance are generally not recorded upon modification of a loan.

The ending amortized cost of modified loans with borrowers experiencing financial difficulty during the third quarter and the nine months ended July 28, 2024 were $23 and $67, respectively, of which $56 were current, $4 were 30-59 days past due, $3 were 60-89 days past due, $1 were 90 days or greater past due, and $3 were non-performing. These modifications represented 0.04 and 0.13 percent of our financing receivable portfolio for the same periods, respectively.

Defaults and subsequent write-offs of loans modified in the prior twelve months were not significant during the third quarter or the first nine months of 2024. In addition, at July 28, 2024, commitments to provide additional financing to these customers were not significant.