Ford 2014 Annual Report Download - page 132
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FORD MOTOR COMPANY AND SUBSIDIARIES
NOTES TO THE FINANCIAL STATEMENTS
NOTE 7. FINANCIAL SERVICES SECTOR ALLOWANCE FOR CREDIT LOSSES (Continued)
An analysis of the allowance for credit losses related to finance receivables for the years ended December 31 were as
follows (in millions):
2014
Consumer Non-Consumer Total
Allowance for credit losses
Beginning balance $ 327 $ 30 $ 357
Charge-offs (294) (6) (300)
Recoveries 131 9 140
Provision for credit losses 150 (17)133
Other (a) (9) — (9)
Ending balance (b) $ 305 $ 16 $ 321
Analysis of ending balance of allowance for credit losses
Collective impairment allowance $ 282 $ 16 $ 298
Specific impairment allowance 23 — 23
Ending balance (b) 305 16 321
Analysis of ending balance of finance receivables
Collectively evaluated for impairment 53,681 32,261 85,942
Specifically evaluated for impairment 415 105 520
Recorded investment 54,096 32,366 86,462
Ending balance, net of allowance for credit losses $ 53,791 $32,350 $ 86,141
__________
(a) Primarily represents amounts related to translation adjustments.
(b) Total allowance, including reserves for operating leases, was $359 million.
2013
Consumer Non-Consumer Total
Allowance for credit losses
Beginning balance $ 360 $ 29 $ 389
Charge-offs (289)(15) (304)
Recoveries 144 5 149
Provision for credit losses 112 12 124
Other (a) — (1) (1)
Ending balance (b) $ 327 $ 30 $ 357
Analysis of ending balance of allowance for credit losses
Collective impairment allowance $ 304 $ 28 $ 332
Specific impairment allowance 23 225
Ending balance (b) 327 30 357
Analysis of ending balance of finance receivables
Collectively evaluated for impairment 49,762 30,905 80,667
Specifically evaluated for impairment 435 71 506
Recorded investment 50,197 30,976 81,173
Ending balance, net of allowance for credit losses $ 49,870 $30,946 $ 80,816
__________
(a) Primarily represents amounts related to translation adjustments.
(b) Total allowance, including reserves for operating leases, was $380 million.
FS-26