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RECEIVABLES (Tables) | 6 Months Ended
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Jun. 30, 2019
Receivables [Abstract] |
Summary of Financing Receivables | A summary of financing receivables as of June 30, 2019 and December 31, 2018 is as follows:
| June 30, 2019 |  | December 31, 2018
| (in millions)
Retail | $ | 9,065 |  |  | $ | 9,350 |
Wholesale | 10,600 |  |  | 9,749 |
Other | 69 |  |  | 68 |
Total | $ | 19,734 |  |  | $ | 19,167 |
Summary of Aging of Financing Receivables | The aging of financing receivables as of June 30, 2019 and December 31, 2018 is as follows (in millions):
| June 30, 2019
| 31-60 Days Past Due |  | 61-90 Days Past Due |  | Greater Than 90 Days |  | Total Past Due |  | Current |  | Total Performing |  | Non- Performing |  | Total
Retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America | $ | 21 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 26 |  |  | $ | 6,225 |  |  | $ | 6,251 |  |  | $ | 10 |  |  | $ | 6,261 |
Europe | — |  |  | — |  |  | — |  |  | — |  |  | 177 |  |  | 177 |  |  | — |  |  | 177 |
South America | 79 |  |  | 5 |  |  | 6 |  |  | 90 |  |  | 1,735 |  |  | 1,825 |  |  | 10 |  |  | 1,835 |
Rest of World | 2 |  |  | 3 |  |  | — |  |  | 5 |  |  | 787 |  |  | 792 |  |  | — |  |  | 792 |
Total Retail | $ | 102 |  |  | $ | 13 |  |  | $ | 6 |  |  | $ | 121 |  |  | $ | 8,924 |  |  | $ | 9,045 |  |  | $ | 20 |  |  | $ | 9,065 |
Wholesale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,927 |  |  | $ | 3,927 |  |  | $ | 1 |  |  | $ | 3,928 |
Europe | 30 |  |  | 24 |  |  | 21 |  |  | 75 |  |  | 5,130 |  |  | 5,205 |  |  | — |  |  | 5,205 |
South America | 1 |  |  | — |  |  | 5 |  |  | 6 |  |  | 697 |  |  | 703 |  |  | 59 |  |  | 762 |
Rest of World | 8 |  |  | 4 |  |  | 6 |  |  | 18 |  |  | 687 |  |  | 705 |  |  | — |  |  | 705 |
Total Wholesale | $ | 39 |  |  | $ | 28 |  |  | $ | 32 |  |  | $ | 99 |  |  | $ | 10,441 |  |  | $ | 10,540 |  |  | $ | 60 |  |  | $ | 10,600 |
| December 31, 2018
| 31-60 Days Past Due |  | 61-90 Days Past Due |  | Greater Than 90 Days |  | Total Past Due |  | Current |  | Total Performing |  | Non- Performing |  | Total
Retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America | $ | 21 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 26 |  |  | $ | 6,285 |  |  | $ | 6,311 |  |  | $ | 12 |  |  | $ | 6,323 |
Europe | 1 |  |  | — |  |  | 10 |  |  | 11 |  |  | 164 |  |  | 175 |  |  | 40 |  |  | 215 |
South America | 11 |  |  | 9 |  |  | 7 |  |  | 27 |  |  | 1,885 |  |  | 1,912 |  |  | 83 |  |  | 1,995 |
Rest of World | 2 |  |  | 1 |  |  | — |  |  | 3 |  |  | 814 |  |  | 817 |  |  | — |  |  | 817 |
Total Retail | $ | 35 |  |  | $ | 15 |  |  | $ | 17 |  |  | $ | 67 |  |  | $ | 9,148 |  |  | $ | 9,215 |  |  | $ | 135 |  |  | $ | 9,350 |
Wholesale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,613 |  |  | $ | 3,613 |  |  | $ | 18 |  |  | $ | 3,631 |
Europe | 20 |  |  | 9 |  |  | — |  |  | 29 |  |  | 4,727 |  |  | 4,756 |  |  | — |  |  | 4,756 |
South America | — |  |  | — |  |  | — |  |  | — |  |  | 656 |  |  | 656 |  |  | — |  |  | 656 |
Rest of World | 7 |  |  | 3 |  |  | — |  |  | 10 |  |  | 696 |  |  | 706 |  |  | — |  |  | 706 |
Total Wholesale | $ | 27 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 39 |  |  | $ | 9,692 |  |  | $ | 9,731 |  |  | $ | 18 |  |  | $ | 9,749 |
Summary of Allowance for Credit Loss Activity | Allowance for credit losses activity for the three and six months ended June 30, 2019 and 2018 is as follows:
| Three Months Ended June 30, 2019
| Retail |  | Wholesale |  | Other |  | Total
Opening balance | $ | 317 |  |  | $ | 157 |  |  | $ | — |  |  | $ | 474 |
Provision | 15 |  |  | 4 |  |  | — |  |  | 19 |
Charge-offs, net of recoveries | (16 | ) |  | (4 | ) |  | — |  |  | (20 | )
Foreign currency translation and other | 3 |  |  | 1 |  |  | — |  |  | 4 |
Ending balance | $ | 319 |  |  | $ | 158 |  |  | $ | — |  |  | $ | 477 |
| Six Months Ended June 30, 2019
| Retail |  | Wholesale |  | Other |  | Total
Opening Balance | $ | 326 |  |  | $ | 164 |  |  | $ | — |  |  | $ | 490 |
Provision (benefit) | 23 |  |  | 1 |  |  | — |  |  | 24 |
Charge-offs, net of recoveries | (27 | ) |  | (6 | ) |  | — |  |  | (33 | )
Foreign Currency Translation and Other | (3 | ) |  | (1 | ) |  | — |  |  | (4 | )
Ending Balance | 319 |  |  | 158 |  |  | — |  |  | 477 |
Ending Balance: Individually Evaluated for Impairment | 213 |  |  | 125 |  |  | — |  |  | 338 |
Ending Balance: Collectively Evaluated for Impairment | 106 |  |  | 33 |  |  | — |  |  | 139 |
Receivables: |  |  |  |  |  |  |
Ending Balance | 9,065 |  |  | 10,600 |  |  | 69 |  |  | 19,734 |
Ending Balance: Individually Evaluated for Impairment | 351 |  |  | 288 |  |  | — |  |  | 639 |
Ending Balance: Collectively Evaluated for Impairment | $ | 8,714 |  |  | $ | 10,312 |  |  | $ | 69 |  |  | $ | 19,095 |
| Three Months Ended June 30, 2018
| Retail |  | Wholesale |  | Other |  | Total
Opening balance | $ | 394 |  |  | $ | 202 |  |  | $ | — |  |  | $ | 596 |
Provision | 5 |  |  | 4 |  |  | — |  |  | 9 |
Charge-offs, net of recoveries | (26 | ) |  | — |  |  | — |  |  | (26 | )
Foreign currency translation and other | (24 | ) |  | (13 | ) |  | — |  |  | (37 | )
Ending balance | $ | 349 |  |  | $ | 193 |  |  | $ | — |  |  | $ | 542 |
| Six Months Ended June 30, 2018
| Retail |  | Wholesale |  | Other |  | Total
Opening Balance | $ | 383 |  |  | $ | 200 |  |  | $ | — |  |  | $ | 583 |
Provision (benefit) | 25 |  |  | 3 |  |  | — |  |  | 28 |
Charge-offs, net of recoveries | (40 | ) |  | (1 | ) |  | — |  |  | (41 | )
Foreign Currency Translation and Other | (19 | ) |  | (9 | ) |  | — |  |  | (28 | )
Ending Balance | 349 |  |  | 193 |  |  | — |  |  | 542 |
Ending Balance: Individually Evaluated for Impairment | 231 |  |  | 161 |  |  | — |  |  | 392 |
Ending Balance: Collectively Evaluated for Impairment | 118 |  |  | 32 |  |  | — |  |  | 150 |
Receivables: |  |  |  |  |  |  |
Ending Balance | 9,076 |  |  | 9,804 |  |  | 77 |  |  | 18,957 |
Ending Balance: Individually Evaluated for Impairment | 338 |  |  | 327 |  |  | — |  |  | 665 |
Ending Balance: Collectively Evaluated for Impairment | $ | 8,738 |  |  | $ | 9,477 |  |  | $ | 77 |  |  | $ | 18,292 |
Allowance for credit losses activity for the year ended December 31, 2018 is as follows:
| December 31, 2018
| Retail |  | Wholesale |  | Other |  | Total
Opening Balance | $ | 383 |  |  | $ | 200 |  |  | $ | — |  |  | $ | 583 |
Provision (benefit) | 53 |  |  | (5 | ) |  | — |  |  | 48 |
Charge-offs, net of recoveries | (85 | ) |  | (15 | ) |  | — |  |  | (100 | )
Foreign Currency Translation and Other | (25 | ) |  | (16 | ) |  | — |  |  | (41 | )
Ending Balance | 326 |  |  | 164 |  |  | — |  |  | 490 |
Ending Balance: Individually Evaluated for Impairment | 204 |  |  | 135 |  |  | — |  |  | 339 |
Ending Balance: Collectively Evaluated for Impairment | 122 |  |  | 29 |  |  | — |  |  | 151 |
Receivables: |  |  |  |  |  |  |
Ending Balance | 9,350 |  |  | 9,749 |  |  | 68 |  |  | 19,167 |
Ending Balance: Individually Evaluated for Impairment | 359 |  |  | 314 |  |  | — |  |  | 673 |
Ending Balance: Collectively Evaluated for Impairment | $ | 8,991 |  |  | $ | 9,435 |  |  | $ | 68 |  |  | $ | 18,494 |
Summary of Financing Receivable Impairment | Financing receivables are considered impaired when it is probable that the Company will be unable to collect all amounts due according to the contractual terms. Receivables reviewed for impairment generally include those that are either past due, have provided bankruptcy notification, or require significant collection efforts. Impaired receivables are generally classified as non-performing.
| June 30, 2019 |  | December 31, 2018
| Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Investment |  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Investment
| (in millions)
With an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America | $ | 43 |  |  | $ | 41 |  |  | $ | 23 |  |  | $ | 45 |  |  | $ | 31 |  |  | $ | 30 |  |  | $ | 16 |  |  | $ | 33 |
Europe | $ | 219 |  |  | $ | 219 |  |  | $ | 157 |  |  | $ | 226 |  |  | $ | 234 |  |  | $ | 234 |  |  | $ | 167 |  |  | $ | 249 |
South America | $ | 84 |  |  | $ | 84 |  |  | $ | 31 |  |  | $ | 87 |  |  | $ | 91 |  |  | $ | 91 |  |  | $ | 20 |  |  | $ | 88 |
Rest of World | $ | 5 |  |  | $ | 5 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 4 |
Wholesale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America | $ | 4 |  |  | $ | 4 |  |  | $ | 3 |  |  | $ | 6 |  |  | $ | 25 |  |  | $ | 23 |  |  | $ | 5 |  |  | $ | 27 |
Europe | $ | 261 |  |  | $ | 261 |  |  | $ | 97 |  |  | $ | 260 |  |  | $ | 256 |  |  | $ | 256 |  |  | $ | 107 |  |  | $ | 260 |
South America | $ | 17 |  |  | $ | 9 |  |  | $ | 14 |  |  | $ | 17 |  |  | $ | 23 |  |  | $ | 14 |  |  | $ | 16 |  |  | $ | 26 |
Rest of World | $ | 6 |  |  | $ | 6 |  |  | $ | 11 |  |  | $ | 8 |  |  | $ | 10 |  |  | $ | 10 |  |  | $ | 7 |  |  | $ | 9 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail | $ | 351 |  |  | $ | 349 |  |  | $ | 213 |  |  | $ | 362 |  |  | $ | 359 |  |  | $ | 358 |  |  | $ | 204 |  |  | $ | 374 |
Wholesale | $ | 288 |  |  | $ | 280 |  |  | $ | 125 |  |  | $ | 291 |  |  | $ | 314 |  |  | $ | 303 |  |  | $ | 135 |  |  | $ | 322 |
Summary of Carrying Amount of Restricted Assets | At June 30, 2019 and December 31, 2018, the carrying amount of such restricted assets included in financing receivables above are the following (in millions):
| Restricted Receivables
| June 30, 2019 |  | December 31, 2018
Retail note and finance lease receivables | $ | 6,359 |  |  | $ | 6,371 |
Wholesale receivables | 7,414 |  |  | 7,052 |
Total | $ | 13,773 |  |  | $ | 13,423 |

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- Definition Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953423-111524 + Details
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- Definition Tabular disclosure of financing receivables that are past due but not impaired, financing receivables that are 90 days past due and still accruing, and financing receivables on nonaccrual status. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953401-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5111-111524 + Details
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- Definition Tabular disclosure of a transferor's continuing involvement with financial assets transferred to a transferee in a securitization, asset-backed financing arrangement, or similar transfer. Such disclosure would, at a minimum, contain information allowing for an assessment of the reasons for the transferor's continuing involvement, the risks related to the transferred financial assets to which the transferor continues to be exposed, and the extent of change to the transferor's risk profile due to the transfer (including, but not limited to, credit risk, interest rate risk, other). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109247956&loc=d3e107314-111719 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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