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Accounts Receivable and Finance Receivables (Tables)
 9 Months Ended
Sep. 30, 2017
Accounts Receivable and Finance Receivables  
Accounts receivable

 

(In millions)

 

 

 

 

 

September 30,
2017

 

December 31,
2016

Commercial

 

 

 

 

$
1,061

$
797

U.S. Government contracts

 

 

 

 

 
310

 
294

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
1,371

 
1,091

Allowance for doubtful accounts

 

 

 

 

 
(27)

 
(27)

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

$
1,344

$
1,064

 

 

 

 

 

 

 

 

 

 

Finance receivables

 

(In millions)

 

 

 

 

 

September 30,
2017

 

December 31,
2016

Finance receivables*

 

 

 

 

$
858

$
976

Allowance for losses

 

 

 

 

 
(34)

 
(41)

 

 

 

 

 

 

 

 

 

Total finance receivables, net

 

 

 

 

$
824

$
935

 

 

 

 

 

 

 

 

 

* Includes finance receivables held for sale of $30 million at both September 30, 2017 and December 31, 2016.

Finance receivables by credit quality indicator and by delinquency aging category

 

(Dollars in millions)

 

 

 

 

 

September 30,
2017

 

December 31,
2016

Performing

 

 

 

 

$
699

$
758

Watchlist

 

 

 

 

 
59

 
101

Nonaccrual

 

 

 

 

 
70

 
87

 

 

 

 

 

 

 

 

 

Nonaccrual as a percentage of finance receivables

 

 

 

 

 
8.45%

 
9.20%

 

 

 

 

 

 

 

 

 

Less than 31 days past due

 

 

 

 

$
740

$
857

31-60 days past due

 

 

 

 

 
38

 
49

61-90 days past due

 

 

 

 

 
20

 
18

Over 90 days past due

 

 

 

 

 
30

 
22

 

 

 

 

 

 

 

 

 

60 + days contractual delinquency as a percentage of finance receivables

 

 

 

 

 
6.04%

 
4.23%

 

 

 

 

 

 

 

 

 

 

Summary of impaired finance receivables, excluding leveraged leases, and the average recorded investment

 

(In millions)

 

 

 

 

 

September 30,
2017

 

December 31,
2016

Recorded investment:

 

 

 

 

 

 

 

 

Impaired loans with related allowance for losses

 

 

 

 

$
33

$
55

Impaired loans with no related allowance for losses

 

 

 

 

 
41

 
65

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

$
74

$
120

 

 

 

 

 

 

 

 

 

Unpaid principal balance

 

 

 

 

$
80

$
125

Allowance for losses on impaired loans

 

 

 

 

 
7

 
11

Average recorded investment

 

 

 

 

 
92

 
101

 

 

 

 

 

 

 

 

 

 

Allowance for losses on finance receivables on an individual and on a collective basis

 

(In millions)

 

 

 

 

 

September 30,
2017

 

December 31,
2016

Allowance based on collective evaluation

 

 

 

 

$
27

$
30

Allowance based on individual evaluation

 

 

 

 

 
7

 
11

Finance receivables evaluated collectively

 

 

 

 

 
657

 
727

Finance receivables evaluated individually

 

 

 

 

 
74

 
120