v3.25.4
Receivables (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Schedule of financing receivables
A summary of financing receivables included in the Consolidated Balance Sheets as of December 31, 2025 and 2024 is as follows (in millions of dollars):
As of December 31,
20252024
Retail$14,616 $14,297 
Wholesale8,437 8,749 
Other52 39 
Total$23,105 $23,085 
Schedule of maturities of financing receivables
Maturities of financing receivables as of December 31, 2025 are as follows (in millions of dollars):
As of December 31, 2025
2026$14,158 
20273,263 
20282,497 
20291,747 
20301,025 
2031 and thereafter415 
Total$23,105 
Schedule of carrying amount of restricted assets At December 31, 2025 and 2024, the carrying amount of such restricted assets included in financing receivables are the following (in millions of dollars):
As of December 31,
20252024
Retail$8,041 $8,692 
Wholesale5,053 5,246 
Total$13,094 $13,938 
Schedule of allowance for credit loss
Allowance for credit losses activity for the year ended December 31, 2025, is as follows (in millions of dollars):
Year Ended December 31, 2025
RetailWholesale
Balance at beginning of year$376 $48 
Provision310 3 
Charge-offs(229)(4)
Recoveries31 3 
Foreign currency translation and other30 4 
Balance at end of year$518 $54 
Allowance for credit losses activity for the year ended December 31, 2024, is as follows (in millions of dollars):
Year Ended December 31, 2024
RetailWholesale
Balance at beginning of year$310 $53 
Provision201 3 
Charge-offs(89)(7)
Recoveries6 3 
Foreign currency translation and other(52)(4)
Balance at end of year$376 $48 
Allowance for credit losses activity for the year ended December 31, 2023, is as follows (in millions of dollars):
Year Ended December 31, 2023
RetailWholesale
Balance at beginning of year$270 $64 
Provision86 (6)
Charge-offs(42)(5)
Recoveries4 — 
Foreign currency translation and other(8)— 
Balance at end of year$310 $53 
Schedule of aging of receivables
The aging of financing receivables and charge-offs by vintage, net of allowance for credit losses, as of December 31, 2025, is as follows (in millions of dollars):
31-60 Days
Past Due
61-90 Days
Past Due
Total Past
Due
Current
Total
Performing
Non-
Performing
TotalGross Charge-offs
Retail
North America
2025$4,270 $9 $4,279 $7 
20242,549 15 2,564 17 
20231,343 9 1,352 23 
2022729 5 734 10 
2021374 2 376 3 
Prior to 202172 2 74 4 
Total60 3 63 9,274 9,337 42 9,379 64 
South America
20251,031 4 1,035 13 
20241,017 54 1,071 53 
2023826 84 910 70 
2022331 41 372 20 
2021159 12 171 4 
Prior to 202176 5 81 3 
Total42 30 72 3,368 3,440 200 3,640 163 
Asia Pacific
2025641 — 641 — 
2024426 1 427 — 
2023277 1 278 — 
2022164 — 164 — 
202160 — 60 1 
Prior to 202112 — 12 1 
Total3 3 6 1,574 1,580 2 1,582 2 
EMEA— — — 4 4 11 15 — 
Total Retail$105 $36 $141 $14,220 $14,361 $255 $14,616 $229 
Wholesale
North America$— $— $— $4,142 $4,142 $17 $4,159 $— 
South America3 — 3 1,251 1,254 — 1,254 — 
Asia Pacific2 2 4 877 881 1 882 1 
EMEA6 3 9 2,133 2,142 — 2,142 3 
Total Wholesale$11 $5 $16 $8,403 $8,419 $18 $8,437 $4 
The aging of financing receivables and charge-offs by vintage, net of allowance for credit losses, as of December 31, 2024, is as follows (in millions of dollars):
31-60 Days
Past Due
61-90 Days
Past Due
Total Past
Due
Current
Total
Performing
Non-
Performing
TotalGross Charge-offs
Retail
North America
2024$4,485 $5 $4,490 $5 
20232,145 6 2,151 12 
20221,421 4 1,425 9 
2021766 2 768 5 
2020249 1 250 3 
Prior to 202058 1 59 3 
Total64 4 68 9,056 9,124 19 9,143 37 
South America
20241,400 5 1,405 — 
20231,255 26 1,281 2 
2022518 26 544 24 
2021287 8 295 12 
2020127 2 129 4 
Prior to 202065 1 66 3 
Total29 1 30 3,622 3,652 68 3,720 45 
Asia Pacific
2024563 — 563 — 
2023402 1 403 1 
2022276 1 277 1 
2021129 — 129 1 
202041 — 41 2 
Prior to 20203 — 3 2 
Total4 3 7 1,407 1,414 2 1,416 7 
EMEA— — — 11 11 7 18 — 
Total Retail$97 $8 $105 $14,096 $14,201 $96 $14,297 $89 
Wholesale
North America$— $— $— $4,817 $4,817 $23 $4,840 $— 
South America— — — 1,048 1,048 — 1,048 — 
Asia Pacific2 1 3 883 886 1 887 2 
EMEA7 — 7 1,967 1,974 — 1,974 5 
Total Wholesale$9 $1 $10 $8,715 $8,725 $24 $8,749 $7