A. | Wholesale inventory receivables |
Contractual maturities of outstanding wholesale inventory receivables: | ||||||||||||||||
(Millions of dollars) | December 31, 2013 | |||||||||||||||
Amounts Due In | Wholesale Installment Contracts | Wholesale Finance Leases | Wholesale Notes | Total | ||||||||||||
2014 | $ | 258 | $ | 125 | $ | 636 | $ | 1,019 | ||||||||
2015 | 106 | 95 | 231 | 432 | ||||||||||||
2016 | 77 | 58 | 150 | 285 | ||||||||||||
2017 | 39 | 31 | 18 | 88 | ||||||||||||
2018 | 17 | 13 | 5 | 35 | ||||||||||||
Thereafter | 3 | — | — | 3 | ||||||||||||
500 | 322 | 1,040 | 1,862 | |||||||||||||
Guaranteed residual value | — | 90 | — | 90 | ||||||||||||
Unguaranteed residual value | — | 35 | — | 35 | ||||||||||||
Less: Unearned income | (8 | ) | (31 | ) | (3 | ) | (42 | ) | ||||||||
Total | $ | 492 | $ | 416 | $ | 1,037 | $ | 1,945 | ||||||||
B. | Finance receivables |
Contractual maturities of outstanding finance receivables: | ||||||||||||||||
(Millions of dollars) | December 31, 2013 | |||||||||||||||
Amounts Due In | Retail Installment Contracts | Retail Finance Leases | Retail Notes | Total | ||||||||||||
2014 | $ | 2,105 | $ | 3,234 | $ | 3,627 | $ | 8,966 | ||||||||
2015 | 1,627 | 2,183 | 2,263 | 6,073 | ||||||||||||
2016 | 1,093 | 1,292 | 1,758 | 4,143 | ||||||||||||
2017 | 590 | 581 | 1,475 | 2,646 | ||||||||||||
2018 | 198 | 203 | 669 | 1,070 | ||||||||||||
Thereafter | 26 | 139 | 1,070 | 1,235 | ||||||||||||
5,639 | 7,632 | 10,862 | 24,133 | |||||||||||||
Guaranteed residual value | — | 354 | — | 354 | ||||||||||||
Unguaranteed residual value | — | 486 | — | 486 | ||||||||||||
Less: Unearned income | (93 | ) | (730 | ) | (89 | ) | (912 | ) | ||||||||
Total | $ | 5,546 | $ | 7,742 | $ | 10,773 | $ | 24,061 | ||||||||
C. | Credit quality of financing receivables and allowance for credit losses |
• | Customer - Finance receivables with retail customers. |
• | Dealer - Finance receivables with Caterpillar dealers. |
• | North America - Finance receivables originated in the United States or Canada. |
• | Europe - Finance receivables originated in Europe, Africa, Middle East and the Commonwealth of Independent States. |
• | Asia Pacific - Finance receivables originated in Australia, New Zealand, China, Japan, South Korea and Southeast Asia. |
• | Mining - Finance receivables related to large mining customers worldwide. |
• | Latin America - Finance receivables originated in Central and South American countries and Mexico. |
• | Caterpillar Power Finance - Finance receivables related to marine vessels with Caterpillar engines worldwide and Caterpillar electrical power generation, gas compression and co-generation systems and non-Caterpillar equipment that is powered by these systems worldwide. |
December 31, 2013 | |||||||||||
(Millions of dollars) | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||
Impaired Loans and Finance Leases With No Allowance Recorded | |||||||||||
Customer | |||||||||||
North America | $ | 23 | $ | 22 | $ | — | |||||
Europe | 48 | 47 | — | ||||||||
Asia Pacific | 7 | 7 | — | ||||||||
Mining | 134 | 134 | — | ||||||||
Latin America | 11 | 11 | — | ||||||||
Caterpillar Power Finance | 223 | 222 | — | ||||||||
Total | $ | 446 | $ | 443 | $ | — | |||||
Impaired Loans and Finance Leases With An Allowance Recorded | |||||||||||
Customer | |||||||||||
North America | $ | 13 | $ | 13 | $ | 4 | |||||
Europe | 20 | 19 | 7 | ||||||||
Asia Pacific | 16 | 16 | 2 | ||||||||
Mining | — | — | — | ||||||||
Latin America | 23 | 23 | 6 | ||||||||
Caterpillar Power Finance | 110 | 106 | 51 | ||||||||
Total | $ | 182 | $ | 177 | $ | 70 | |||||
Total Impaired Loans and Finance Leases | |||||||||||
Customer | |||||||||||
North America | $ | 36 | $ | 35 | $ | 4 | |||||
Europe | 68 | 66 | 7 | ||||||||
Asia Pacific | 23 | 23 | 2 | ||||||||
Mining | 134 | 134 | — | ||||||||
Latin America | 34 | 34 | 6 | ||||||||
Caterpillar Power Finance | 333 | 328 | 51 | ||||||||
Total | $ | 628 | $ | 620 | $ | 70 | |||||
December 31, 2012 | |||||||||||
(Millions of dollars) | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||
Impaired Loans and Finance Leases With No Allowance Recorded | |||||||||||
Customer | |||||||||||
North America | $ | 28 | $ | 27 | $ | — | |||||
Europe | 45 | 45 | — | ||||||||
Asia Pacific | 2 | 2 | — | ||||||||
Mining | 1 | 1 | — | ||||||||
Latin America | 7 | 7 | — | ||||||||
Caterpillar Power Finance | 295 | 295 | — | ||||||||
Total | $ | 378 | $ | 377 | $ | — | |||||
Impaired Loans and Finance Leases With An Allowance Recorded | |||||||||||
Customer | |||||||||||
North America | $ | 25 | $ | 23 | $ | 7 | |||||
Europe | 28 | 26 | 11 | ||||||||
Asia Pacific | 19 | 19 | 4 | ||||||||
Mining | — | — | — | ||||||||
Latin America | 30 | 30 | 8 | ||||||||
Caterpillar Power Finance | 113 | 109 | 24 | ||||||||
Total | $ | 215 | $ | 207 | $ | 54 | |||||
Total Impaired Loans and Finance Leases | |||||||||||
Customer | |||||||||||
North America | $ | 53 | $ | 50 | $ | 7 | |||||
Europe | 73 | 71 | 11 | ||||||||
Asia Pacific | 21 | 21 | 4 | ||||||||
Mining | 1 | 1 | — | ||||||||
Latin America | 37 | 37 | 8 | ||||||||
Caterpillar Power Finance | 408 | 404 | 24 | ||||||||
Total | $ | 593 | $ | 584 | $ | 54 | |||||
December 31, 2011 | |||||||||||
(Millions of dollars) | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||
Impaired Loans and Finance Leases With No Allowance Recorded | |||||||||||
Customer | |||||||||||
North America | $ | 83 | $ | 80 | $ | — | |||||
Europe | 47 | 46 | — | ||||||||
Asia Pacific | 4 | 4 | — | ||||||||
Mining | 8 | 8 | — | ||||||||
Latin America | 9 | 9 | — | ||||||||
Caterpillar Power Finance | 175 | 170 | — | ||||||||
Total | $ | 326 | $ | 317 | $ | — | |||||
Impaired Loans and Finance Leases With An Allowance Recorded | |||||||||||
Customer | |||||||||||
North America | $ | 23 | $ | 20 | $ | 6 | |||||
Europe | 22 | 21 | 8 | ||||||||
Asia Pacific | 9 | 9 | 3 | ||||||||
Mining | — | — | — | ||||||||
Latin America | 19 | 19 | 4 | ||||||||
Caterpillar Power Finance | 85 | 85 | 13 | ||||||||
Total | $ | 158 | $ | 154 | $ | 34 | |||||
Total Impaired Loans and Finance Leases | |||||||||||
Customer | |||||||||||
North America | $ | 106 | $ | 100 | $ | 6 | |||||
Europe | 69 | 67 | 8 | ||||||||
Asia Pacific | 13 | 13 | 3 | ||||||||
Mining | 8 | 8 | — | ||||||||
Latin America | 28 | 28 | 4 | ||||||||
Caterpillar Power Finance | 260 | 255 | 13 | ||||||||
Total | $ | 484 | $ | 471 | $ | 34 | |||||
Years ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
(Millions of dollars) | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||
Impaired Loans and Finance Leases With No Allowance Recorded | ||||||||||||||||||||||||
Customer | ||||||||||||||||||||||||
North America | $ | 25 | $ | 3 | $ | 50 | $ | 3 | $ | 91 | $ | 4 | ||||||||||||
Europe | 49 | 1 | 45 | 1 | 11 | — | ||||||||||||||||||
Asia Pacific | 4 | — | 3 | — | 5 | — | ||||||||||||||||||
Mining | 61 | 3 | 8 | — | 8 | 1 | ||||||||||||||||||
Latin America | 11 | — | 6 | — | 9 | 1 | ||||||||||||||||||
Caterpillar Power Finance | 271 | 5 | 220 | 2 | 221 | 6 | ||||||||||||||||||
Total | $ | 421 | $ | 12 | $ | 332 | $ | 6 | $ | 345 | $ | 12 | ||||||||||||
Impaired Loans and Finance Leases With An Allowance Recorded | ||||||||||||||||||||||||
Customer | ||||||||||||||||||||||||
North America | $ | 18 | $ | 1 | $ | 25 | $ | 1 | $ | 56 | $ | 2 | ||||||||||||
Europe | 22 | 1 | 27 | 1 | 20 | — | ||||||||||||||||||
Asia Pacific | 18 | 1 | 15 | 1 | 11 | 1 | ||||||||||||||||||
Mining | 1 | — | — | — | — | — | ||||||||||||||||||
Latin America | 44 | 2 | 27 | 2 | 11 | — | ||||||||||||||||||
Caterpillar Power Finance | 135 | 1 | 94 | — | 61 | — | ||||||||||||||||||
Total | $ | 238 | $ | 6 | $ | 188 | $ | 5 | $ | 159 | $ | 3 | ||||||||||||
Total Impaired Loans and Finance Leases | ||||||||||||||||||||||||
Customer | ||||||||||||||||||||||||
North America | $ | 43 | $ | 4 | $ | 75 | $ | 4 | $ | 147 | $ | 6 | ||||||||||||
Europe | 71 | 2 | 72 | 2 | 31 | — | ||||||||||||||||||
Asia Pacific | 22 | 1 | 18 | 1 | 16 | 1 | ||||||||||||||||||
Mining | 62 | 3 | 8 | — | 8 | 1 | ||||||||||||||||||
Latin America | 55 | 2 | 33 | 2 | 20 | 1 | ||||||||||||||||||
Caterpillar Power Finance | 406 | 6 | 314 | 2 | 282 | 6 | ||||||||||||||||||
Total | $ | 659 | $ | 18 | $ | 520 | $ | 11 | $ | 504 | $ | 15 | ||||||||||||
December 31, | ||||||||||||
(Millions of dollars) | 2013 | 2012 | 2011 | |||||||||
Customer | ||||||||||||
North America | $ | 26 | $ | 59 | $ | 112 | ||||||
Europe | 28 | 38 | 58 | |||||||||
Asia Pacific | 50 | 36 | 24 | |||||||||
Mining | 23 | 12 | 12 | |||||||||
Latin America | 179 | 148 | 108 | |||||||||
Caterpillar Power Finance | 119 | 220 | 158 | |||||||||
Total | $ | 425 | $ | 513 | $ | 472 | ||||||
(Millions of dollars) | December 31, 2013 | |||||||||||||||||||||||||||
31-60 Days Past Due | 61-90 Days Past Due | 91+ Days Past Due | Total Past Due | Current | Total Finance Receivables | 91+ Still Accruing | ||||||||||||||||||||||
Customer | ||||||||||||||||||||||||||||
North America | $ | 37 | $ | 12 | $ | 24 | $ | 73 | $ | 6,508 | $ | 6,581 | $ | — | ||||||||||||||
Europe | 26 | 15 | 29 | 70 | 2,805 | 2,875 | 6 | |||||||||||||||||||||
Asia Pacific | 54 | 23 | 59 | 136 | 2,752 | 2,888 | 11 | |||||||||||||||||||||
Mining | 3 | — | 12 | 15 | 2,128 | 2,143 | — | |||||||||||||||||||||
Latin America | 54 | 25 | 165 | 244 | 2,474 | 2,718 | 5 | |||||||||||||||||||||
Caterpillar Power Finance | 55 | 30 | 60 | 145 | 2,946 | 3,091 | — | |||||||||||||||||||||
Dealer | ||||||||||||||||||||||||||||
North America | — | — | — | — | 2,283 | 2,283 | — | |||||||||||||||||||||
Europe | — | — | — | — | 150 | 150 | — | |||||||||||||||||||||
Asia Pacific | — | — | — | — | 583 | 583 | — | |||||||||||||||||||||
Mining | — | — | — | — | 1 | 1 | — | |||||||||||||||||||||
Latin America | — | — | — | — | 748 | 748 | — | |||||||||||||||||||||
Caterpillar Power Finance | — | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 229 | $ | 105 | $ | 349 | $ | 683 | $ | 23,378 | $ | 24,061 | $ | 22 | ||||||||||||||
(Millions of dollars) | December 31, 2012 | |||||||||||||||||||||||||||
31-60 Days Past Due | 61-90 Days Past Due | 91+ Days Past Due | Total Past Due | Current | Total Finance Receivables | 91+ Still Accruing | ||||||||||||||||||||||
Customer | ||||||||||||||||||||||||||||
North America | $ | 35 | $ | 8 | $ | 52 | $ | 95 | $ | 5,872 | $ | 5,967 | $ | — | ||||||||||||||
Europe | 23 | 9 | 36 | 68 | 2,487 | 2,555 | 6 | |||||||||||||||||||||
Asia Pacific | 53 | 19 | 54 | 126 | 2,912 | 3,038 | 18 | |||||||||||||||||||||
Mining | — | 1 | 12 | 13 | 1,960 | 1,973 | — | |||||||||||||||||||||
Latin America | 62 | 19 | 138 | 219 | 2,500 | 2,719 | — | |||||||||||||||||||||
Caterpillar Power Finance | 15 | 14 | 126 | 155 | 3,017 | 3,172 | 4 | |||||||||||||||||||||
Dealer | ||||||||||||||||||||||||||||
North America | — | — | — | — | 2,063 | 2,063 | — | |||||||||||||||||||||
Europe | — | — | — | — | 185 | 185 | — | |||||||||||||||||||||
Asia Pacific | — | — | — | — | 751 | 751 | — | |||||||||||||||||||||
Mining | — | — | — | — | 1 | 1 | — | |||||||||||||||||||||
Latin America | — | — | — | — | 884 | 884 | — | |||||||||||||||||||||
Caterpillar Power Finance | — | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 188 | $ | 70 | $ | 418 | $ | 676 | $ | 22,632 | $ | 23,308 | $ | 28 | ||||||||||||||
(Millions of dollars) | December 31, 2011 | |||||||||||||||||||||||||||
31-60 Days Past Due | 61-90 Days Past Due | 91+ Days Past Due | Total Past Due | Current | Total Finance Receivables | 91+ Still Accruing | ||||||||||||||||||||||
Customer | ||||||||||||||||||||||||||||
North America | $ | 74 | $ | 39 | $ | 111 | $ | 224 | $ | 5,378 | $ | 5,602 | $ | 9 | ||||||||||||||
Europe | 27 | 11 | 57 | 95 | 2,129 | 2,224 | 10 | |||||||||||||||||||||
Asia Pacific | 47 | 23 | 38 | 108 | 2,769 | 2,877 | 14 | |||||||||||||||||||||
Mining | — | — | 12 | 12 | 1,473 | 1,485 | — | |||||||||||||||||||||
Latin America | 32 | 15 | 99 | 146 | 2,339 | 2,485 | — | |||||||||||||||||||||
Caterpillar Power Finance | 14 | 16 | 125 | 155 | 2,765 | 2,920 | 25 | |||||||||||||||||||||
Dealer | ||||||||||||||||||||||||||||
North America | — | — | — | — | 1,689 | 1,689 | — | |||||||||||||||||||||
Europe | — | — | — | — | 57 | 57 | — | |||||||||||||||||||||
Asia Pacific | — | — | — | — | 161 | 161 | — | |||||||||||||||||||||
Mining | — | — | — | — | — | — | — | |||||||||||||||||||||
Latin America | — | — | — | — | 480 | 480 | — | |||||||||||||||||||||
Caterpillar Power Finance | — | — | — | — | — | — | — | |||||||||||||||||||||
Total | $ | 194 | $ | 104 | $ | 442 | $ | 740 | $ | 19,240 | $ | 19,980 | $ | 58 | ||||||||||||||
(Millions of dollars) | December 31, 2013 | |||||||||||
Customer | Dealer | Total | ||||||||||
Allowance for Credit Losses: | ||||||||||||
Balance at beginning of year | $ | 414 | $ | 9 | $ | 423 | ||||||
Receivables written off | (179 | ) | — | (179 | ) | |||||||
Recoveries on receivables previously written off | 56 | — | 56 | |||||||||
Provision for credit losses | 83 | 1 | 84 | |||||||||
Other | (9 | ) | — | (9 | ) | |||||||
Balance at end of year | $ | 365 | $ | 10 | $ | 375 | ||||||
Individually evaluated for impairment | $ | 70 | $ | — | $ | 70 | ||||||
Collectively evaluated for impairment | 295 | 10 | 305 | |||||||||
Ending Balance | $ | 365 | $ | 10 | $ | 375 | ||||||
Recorded Investment in Finance Receivables: | ||||||||||||
Individually evaluated for impairment | $ | 628 | $ | — | $ | 628 | ||||||
Collectively evaluated for impairment | 19,668 | 3,765 | 23,433 | |||||||||
Ending Balance | $ | 20,296 | $ | 3,765 | $ | 24,061 | ||||||
(Millions of dollars) | December 31, 2012 | |||||||||||
Customer | Dealer | Total | ||||||||||
Allowance for Credit Losses: | ||||||||||||
Balance at beginning of year | $ | 360 | $ | 6 | $ | 366 | ||||||
Receivables written off | (149 | ) | — | (149 | ) | |||||||
Recoveries on receivables previously written off | 47 | — | 47 | |||||||||
Provision for credit losses | 157 | 3 | 160 | |||||||||
Other | (1 | ) | — | (1 | ) | |||||||
Balance at end of year | $ | 414 | $ | 9 | $ | 423 | ||||||
Individually evaluated for impairment | $ | 54 | $ | — | $ | 54 | ||||||
Collectively evaluated for impairment | 360 | 9 | 369 | |||||||||
Ending Balance | $ | 414 | $ | 9 | $ | 423 | ||||||
Recorded Investment in Finance Receivables: | ||||||||||||
Individually evaluated for impairment | $ | 593 | $ | — | $ | 593 | ||||||
Collectively evaluated for impairment | 18,831 | 3,884 | 22,715 | |||||||||
Ending Balance | $ | 19,424 | $ | 3,884 | $ | 23,308 | ||||||
(Millions of dollars) | December 31, 2011 | |||||||||||
Customer | Dealer | Total | ||||||||||
Allowance for Credit Losses: | ||||||||||||
Balance at beginning of year | $ | 357 | $ | 5 | $ | 362 | ||||||
Receivables written off | (210 | ) | — | (210 | ) | |||||||
Recoveries on receivables previously written off | 52 | — | 52 | |||||||||
Provision for credit losses | 167 | 1 | 168 | |||||||||
Other | (6 | ) | — | (6 | ) | |||||||
Balance at end of year | $ | 360 | $ | 6 | $ | 366 | ||||||
Individually evaluated for impairment | $ | 34 | $ | — | $ | 34 | ||||||
Collectively evaluated for impairment | 326 | 6 | 332 | |||||||||
Ending Balance | $ | 360 | $ | 6 | $ | 366 | ||||||
Recorded Investment in Finance Receivables: | ||||||||||||
Individually evaluated for impairment | $ | 484 | $ | — | $ | 484 | ||||||
Collectively evaluated for impairment | 17,109 | 2,387 | 19,496 | |||||||||
Ending Balance | $ | 17,593 | $ | 2,387 | $ | 19,980 | ||||||
(Millions of dollars) | December 31, 2013 | |||||||||||
Customer | Dealer | Total | ||||||||||
Performing | ||||||||||||
North America | $ | 6,555 | $ | 2,283 | $ | 8,838 | ||||||
Europe | 2,847 | 150 | 2,997 | |||||||||
Asia Pacific | 2,838 | 583 | 3,421 | |||||||||
Mining | 2,120 | 1 | 2,121 | |||||||||
Latin America | 2,539 | 748 | 3,287 | |||||||||
Caterpillar Power Finance | 2,972 | — | 2,972 | |||||||||
Total Performing | $ | 19,871 | $ | 3,765 | $ | 23,636 | ||||||
Non-Performing | ||||||||||||
North America | $ | 26 | $ | — | $ | 26 | ||||||
Europe | 28 | — | 28 | |||||||||
Asia Pacific | 50 | — | 50 | |||||||||
Mining | 23 | — | 23 | |||||||||
Latin America | 179 | — | 179 | |||||||||
Caterpillar Power Finance | 119 | — | 119 | |||||||||
Total Non-Performing | $ | 425 | $ | — | $ | 425 | ||||||
Performing & Non-Performing | ||||||||||||
North America | $ | 6,581 | $ | 2,283 | $ | 8,864 | ||||||
Europe | 2,875 | 150 | 3,025 | |||||||||
Asia Pacific | 2,888 | 583 | 3,471 | |||||||||
Mining | 2,143 | 1 | 2,144 | |||||||||
Latin America | 2,718 | 748 | 3,466 | |||||||||
Caterpillar Power Finance | 3,091 | — | 3,091 | |||||||||
Total | $ | 20,296 | $ | 3,765 | $ | 24,061 | ||||||
(Millions of dollars) | December 31, 2012 | |||||||||||
Customer | Dealer | Total | ||||||||||
Performing | ||||||||||||
North America | $ | 5,908 | $ | 2,063 | $ | 7,971 | ||||||
Europe | 2,517 | 185 | 2,702 | |||||||||
Asia Pacific | 3,002 | 751 | 3,753 | |||||||||
Mining | 1,961 | 1 | 1,962 | |||||||||
Latin America | 2,571 | 884 | 3,455 | |||||||||
Caterpillar Power Finance | 2,952 | — | 2,952 | |||||||||
Total Performing | $ | 18,911 | $ | 3,884 | $ | 22,795 | ||||||
Non-Performing | ||||||||||||
North America | $ | 59 | $ | — | $ | 59 | ||||||
Europe | 38 | — | 38 | |||||||||
Asia Pacific | 36 | — | 36 | |||||||||
Mining | 12 | — | 12 | |||||||||
Latin America | 148 | — | 148 | |||||||||
Caterpillar Power Finance | 220 | — | 220 | |||||||||
Total Non-Performing | $ | 513 | $ | — | $ | 513 | ||||||
Performing & Non-Performing | ||||||||||||
North America | $ | 5,967 | $ | 2,063 | $ | 8,030 | ||||||
Europe | 2,555 | 185 | 2,740 | |||||||||
Asia Pacific | 3,038 | 751 | 3,789 | |||||||||
Mining | 1,973 | 1 | 1,974 | |||||||||
Latin America | 2,719 | 884 | 3,603 | |||||||||
Caterpillar Power Finance | 3,172 | — | 3,172 | |||||||||
Total | $ | 19,424 | $ | 3,884 | $ | 23,308 | ||||||
(Millions of dollars) | December 31, 2011 | |||||||||||
Customer | Dealer | Total | ||||||||||
Performing | ||||||||||||
North America | $ | 5,490 | $ | 1,689 | $ | 7,179 | ||||||
Europe | 2,166 | 57 | 2,223 | |||||||||
Asia Pacific | 2,853 | 161 | 3,014 | |||||||||
Mining | 1,473 | — | 1,473 | |||||||||
Latin America | 2,377 | 480 | 2,857 | |||||||||
Caterpillar Power Finance | 2,762 | — | 2,762 | |||||||||
Total Performing | $ | 17,121 | $ | 2,387 | $ | 19,508 | ||||||
Non-Performing | ||||||||||||
North America | $ | 112 | $ | — | $ | 112 | ||||||
Europe | 58 | — | 58 | |||||||||
Asia Pacific | 24 | — | 24 | |||||||||
Mining | 12 | — | 12 | |||||||||
Latin America | 108 | — | 108 | |||||||||
Caterpillar Power Finance | 158 | — | 158 | |||||||||
Total Non-Performing | $ | 472 | $ | — | $ | 472 | ||||||
Performing & Non-Performing | ||||||||||||
North America | $ | 5,602 | $ | 1,689 | $ | 7,291 | ||||||
Europe | 2,224 | 57 | 2,281 | |||||||||
Asia Pacific | 2,877 | 161 | 3,038 | |||||||||
Mining | 1,485 | — | 1,485 | |||||||||
Latin America | 2,485 | 480 | 2,965 | |||||||||
Caterpillar Power Finance | 2,920 | — | 2,920 | |||||||||
Total | $ | 17,593 | $ | 2,387 | $ | 19,980 | ||||||
(Millions of dollars) | Year ended December 31, 2013 | |||||||||||
Number of Contracts | Pre-TDR Outstanding Recorded Investment | Post-TDR Outstanding Recorded Investment | ||||||||||
Customer | ||||||||||||
North America | 62 | $ | 9 | $ | 9 | |||||||
Europe | 51 | 7 | 7 | |||||||||
Asia Pacific | 3 | 1 | 1 | |||||||||
Mining | 45 | 123 | 123 | |||||||||
Latin America | 16 | 2 | 2 | |||||||||
Caterpillar Power Finance 1 | 17 | 153 | 157 | |||||||||
Total 2 | 194 | $ | 295 | $ | 299 | |||||||
Year ended December 31, 2012 | ||||||||||||
Number of Contracts | Pre-TDR Outstanding Recorded Investment | Post-TDR Outstanding Recorded Investment | ||||||||||
Customer | ||||||||||||
North America | 98 | $ | 15 | $ | 15 | |||||||
Europe | 21 | 8 | 8 | |||||||||
Asia Pacific | 12 | 3 | 3 | |||||||||
Mining | — | — | — | |||||||||
Latin America | 41 | 5 | 5 | |||||||||
Caterpillar Power Finance 1 | 27 | 253 | 253 | |||||||||
Total 2 | 199 | $ | 284 | $ | 284 | |||||||
Year ended December 31, 2011 | ||||||||||||
Number of Contracts | Pre-TDR Outstanding Recorded Investment | Post-TDR Outstanding Recorded Investment | ||||||||||
Customer | ||||||||||||
North America | 71 | $ | 13 | $ | 13 | |||||||
Europe | 7 | 44 | 44 | |||||||||
Asia Pacific | — | — | — | |||||||||
Mining | — | — | — | |||||||||
Latin America | 12 | 10 | 10 | |||||||||
Caterpillar Power Finance 1 | 35 | 117 | 117 | |||||||||
Total 2 | 125 | $ | 184 | $ | 184 | |||||||
1 | During the years ended December 31, 2013, 2012 and 2011, $25 million, $24 million and $15 million, respectively, of additional funds were subsequently loaned to a borrower whose terms had been modified in a TDR. The $25 million, $24 million and $15 million of additional funds are not reflected in the table above as no incremental modifications have been made with the borrower during the periods presented. At December 31, 2013, remaining commitments to lend additional funds to a borrower whose terms have been modified in a TDR were $6 million. |
2 | Modifications include extended contract maturities, inclusion of interest only periods, below market interest rates, and extended skip payment periods. |
(Millions of dollars) | Year ended December 31, 2013 | Year ended December 31, 2012 | Year ended December 31, 2011 | |||||||||||||||||||
Number of Contracts | Post-TDR Recorded Investment | Number of Contracts | Post-TDR Recorded Investment | Number of Contracts | Post-TDR Recorded Investment | |||||||||||||||||
Customer | ||||||||||||||||||||||
North America | 19 | $ | 4 | 49 | $ | 4 | 48 | $ | 26 | |||||||||||||
Europe | 5 | — | — | — | 1 | 1 | ||||||||||||||||
Asia Pacific | — | — | 2 | 1 | — | — | ||||||||||||||||
Mining | — | — | — | — | — | — | ||||||||||||||||
Latin America | — | — | — | — | 7 | 4 | ||||||||||||||||
Caterpillar Power Finance | 2 | 3 | 16 | 21 | 14 | 70 | ||||||||||||||||
Total | 26 | $ | 7 | 67 | $ | 26 | 70 | $ | 101 |
D. | Securitized Retail Installment Sale Contracts and Finance Leases |