XML 41 R34.htm IDEA: XBRL DOCUMENT
v3.22.1

RECEIVABLES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Receivables [Abstract] |
Summary of Financing Receivables | A summary of financing receivables as of March 31, 2022 and December 31, 2021 is as follows:
| March 31, 2022 |  | December 31, 2021
| (in millions)
Retail | $ | 10,427 |  |  | $ | 9,955 |
Wholesale | 5,621 |  |  | 5,373 |
Other | 35 |  |  | 48 |
Total | $ | 16,083 |  |  | $ | 15,376 |
Summary of Aging of Financing Receivables | The aging of financing receivables as of March 31, 2022 and December 31, 2021 is as follows (in millions):
| March 31, 2022
| 31-60 Days Past Due |  | 61-90 Days Past Due |  | Total Past Due |  | Current |  | Total Performing |  | Non- Performing |  | Total
Retail |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  |  |  |  |  |  |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  | $ | 794 |  |  | $ | — |  |  | $ | 794 |
2020 |  |  |  |  |  |  |  |  | 2,949 |  |  | — |  |  | 2,949 |
2019 |  |  |  |  |  |  |  |  | 1,489 |  |  | — |  |  | 1,489 |
2018 |  |  |  |  |  |  |  |  | 772 |  |  | — |  |  | 772 |
2017 |  |  |  |  |  |  |  |  | 445 |  |  | — |  |  | 445 |
Prior to 2017 |  |  |  |  |  |  |  |  | 224 |  |  | — |  |  | 224 |
Total | $ | 12 |  |  | $ | — |  |  | $ | 12 |  |  | $ | 6,661 |  |  | $ | 6,673 |  |  | $ | — |  |  | $ | 6,673 |
South America |  |  |  |  |  |  |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  | $ | 234 |  |  | $ | — |  |  | $ | 234 |
2020 |  |  |  |  |  |  |  |  | 981 |  |  | — |  |  | 981 |
2019 |  |  |  |  |  |  |  |  | 578 |  |  | — |  |  | 578 |
2018 |  |  |  |  |  |  |  |  | 325 |  |  | — |  |  | 325 |
2017 |  |  |  |  |  |  |  |  | 206 |  |  | — |  |  | 206 |
Prior to 2017 |  |  |  |  |  |  |  |  | 201 |  |  | — |  |  | 201 |
Total | $ | 15 |  |  | $ | — |  |  | $ | 15 |  |  | $ | 2,510 |  |  | $ | 2,525 |  |  | $ | — |  |  | $ | 2,525 |
Asia Pacific |  |  |  |  |  |  |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  | $ | 137 |  |  | $ | — |  |  | $ | 137 |
2020 |  |  |  |  |  |  |  |  | 506 |  |  | 1 |  |  | 507 |
2019 |  |  |  |  |  |  |  |  | 310 |  |  | 1 |  |  | 311 |
2018 |  |  |  |  |  |  |  |  | 139 |  |  | 1 |  |  | 140 |
2017 |  |  |  |  |  |  |  |  | 72 |  |  | 1 |  |  | 73 |
Prior to 2017 |  |  |  |  |  |  |  |  | 25 |  |  | — |  |  | 25 |
Total | $ | 12 |  |  | $ | 11 |  |  | $ | 23 |  |  | $ | 1,166 |  |  | $ | 1,189 |  |  | $ | 4 |  |  | $ | 1,193 |
Europe, Middle East, Africa | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 36 |  |  | $ | 36 |  |  | $ | — |  |  | $ | 36 |
Total Retail | $ | 39 |  |  | $ | 11 |  |  | $ | 50 |  |  | $ | 10,373 |  |  | $ | 10,423 |  |  | $ | 4 |  |  | $ | 10,427 |
Wholesale |  |  |  |  |  |  |  |  |  |  |  |  |
North America | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,423 |  |  | $ | 2,423 |  |  | $ | 3 |  |  | $ | 2,426 |
South America | — |  |  | — |  |  | — |  |  | 902 |  |  | 902 |  |  | — |  |  | 902 |
Asia Pacific | 4 |  |  | 7 |  |  | 11 |  |  | 440 |  |  | 451 |  |  | — |  |  | 451 |
Europe, Middle East, Africa | 3 |  |  | — |  |  | 3 |  |  | 1,839 |  |  | 1,842 |  |  | — |  |  | 1,842 |
Total Wholesale | $ | 7 |  |  | $ | 7 |  |  | $ | 14 |  |  | $ | 5,604 |  |  | $ | 5,618 |  |  | $ | 3 |  |  | $ | 5,621 |
| December 31, 2021
| 31-60 Days Past Due |  | 61-90 Days Past Due |  | Total Past Due |  | Current |  | Total Performing |  | Non- Performing |  | Total
Retail |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  |  |  |  |  |  |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  | $ | 3,159 |  |  | $ | — |  |  | $ | 3,159 |
2020 |  |  |  |  |  |  |  |  | 1,688 |  |  | 1 |  |  | 1,689 |
2019 |  |  |  |  |  |  |  |  | 901 |  |  | 1 |  |  | 902 |
2018 |  |  |  |  |  |  |  |  | 531 |  |  | — |  |  | 531 |
2017 |  |  |  |  |  |  |  |  | 229 |  |  | — |  |  | 229 |
Prior to 2017 |  |  |  |  |  |  |  |  | 73 |  |  | — |  |  | 73 |
Total | $ | 13 |  |  | $ | — |  |  | $ | 13 |  |  | $ | 6,568 |  |  | $ | 6,581 |  |  | $ | 2 |  |  | $ | 6,583 |
South America |  |  |  |  |  |  |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  | $ | 881 |  |  | $ | — |  |  | $ | 881 |
2020 |  |  |  |  |  |  |  |  | 524 |  |  | — |  |  | 524 |
2019 |  |  |  |  |  |  |  |  | 295 |  |  | — |  |  | 295 |
2018 |  |  |  |  |  |  |  |  | 190 |  |  | — |  |  | 190 |
2017 |  |  |  |  |  |  |  |  | 105 |  |  | — |  |  | 105 |
Prior to 2017 |  |  |  |  |  |  |  |  | 72 |  |  | — |  |  | 72 |
Total | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 2,066 |  |  | $ | 2,067 |  |  | $ | — |  |  | $ | 2,067 |
Asia Pacific |  |  |  |  |  |  |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  | $ | 579 |  |  | $ | — |  |  | $ | 579 |
2020 |  |  |  |  |  |  |  |  | 357 |  |  | 4 |  |  | 361 |
2019 |  |  |  |  |  |  |  |  | 167 |  |  | 1 |  |  | 168 |
2018 |  |  |  |  |  |  |  |  | 99 |  |  | 1 |  |  | 100 |
2017 |  |  |  |  |  |  |  |  | 45 |  |  | — |  |  | 45 |
Prior to 2017 |  |  |  |  |  |  |  |  | 5 |  |  | — |  |  | 5 |
Total | $ | 10 |  |  | $ | 8 |  |  | $ | 18 |  |  | $ | 1,234 |  |  | $ | 1,252 |  |  | $ | 6 |  |  | $ | 1,258 |
Europe, Middle East, Africa | $ | 4 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 43 |  |  | $ | 47 |  |  | $ | — |  |  | $ | 47 |
Total Retail | $ | 28 |  |  | $ | 8 |  |  | $ | 36 |  |  | $ | 9,911 |  |  | $ | 9,947 |  |  | $ | 8 |  |  | $ | 9,955 |
Wholesale |  |  |  |  |  |  |  |  |  |  |  |  |
North America | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,339 |  |  | $ | 2,339 |  |  | $ | — |  |  | $ | 2,339 |
South America | — |  |  | — |  |  | — |  |  | 633 |  |  | 633 |  |  | 22 |  |  | 655 |
Asia Pacific | 2 |  |  | 1 |  |  | 3 |  |  | 446 |  |  | 449 |  |  | — |  |  | 449 |
Europe, Middle East, Africa | 5 |  |  | 1 |  |  | 6 |  |  | 1,924 |  |  | 1,930 |  |  | — |  |  | 1,930 |
Total Wholesale | $ | 7 |  |  | $ | 2 |  |  | $ | 9 |  |  | $ | 5,342 |  |  | $ | 5,351 |  |  | $ | 22 |  |  | $ | 5,373 |
Summary of Allowance for Credit Loss Activity | Allowance for credit losses (activity) for the three months ended March 31, 2022 is as follows (in millions):
| Three Months Ended March 31, 2022
| Retail |  | Wholesale
Opening Balance | $ | 220 |  |  | $ | 65 |
Provision | 12 |  |  | 7 |
Charge-offs, net of recoveries | (1) |  |  | — |
Foreign currency translation and other | 13 |  |  | 2 |
Ending Balance | $ | 244 |  |  | $ | 74 |
Allowance for credit losses activity for the three months ended March 31, 2021 and for the year ended December 31, 2021 is as follows (in millions):
| Three Months Ended March 31, 2021
| Retail |  | Wholesale
Opening Balance | $ | 231 |  |  | $ | 62 |
Provision | 5 |  |  | 4 |
Charge-offs, net of recoveries | (3) |  |  | — |
Foreign currency translation and other | (13) |  |  | 3 |
Ending Balance | $ | 220 |  |  | $ | 69 |
| Twelve Months Ended December 31, 2021
| Retail |  | Wholesale
Opening Balance | 231 |  |  | 62 |
Provision | 22 |  |  | 6 |
Charge-offs, net of recoveries | (22) |  |  | 1 |
Foreign currency translation and other | (11) |  |  | (4) |
Ending Balance | $ | 220 |  |  | $ | 65 |
Summary of Carrying Amount of Restricted Assets | At March 31, 2022 and December 31, 2021, the carrying amount of such restricted assets included in financing receivables above are the following (in millions):
| Restricted Receivables
| March 31, 2022 |  | December 31, 2021
Retail note and finance lease receivables | $ | 6,436 |  |  | $ | 6,878 |
Wholesale receivables | 3,730 |  |  | 3,443 |
Total | $ | 10,166 |  |  | $ | 10,321 |

X
- Definition Tabular disclosure of allowance for credit loss on financing receivable. + 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=123577603&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447 Reference 2: 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=123577603&loc=SL6953401-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI http://asc.fasb.org/extlink&oid=124267575&loc=SL82922355-210448 Reference 4: 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=123577603&loc=d3e5111-111524 + Details
Name: | us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719 + Details
Name: | us-gaap_QualitativeAndQuantitativeInformationTransferorsContinuingInvolvementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration