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RECEIVABLES (Tables)

6 Months Ended

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

X

- 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
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Tabular disclosure of impaired financing receivables.

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-Publisher FASB
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-Topic 310
-SubTopic 10
-Section 50
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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

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-SubTopic 10
-Section 50
-Paragraph 7A
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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

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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.

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