NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  December 31, 2011, 2010 and 2009 (currencies in millions) Allowance for Credit Losses:  The allowance for credit losses is summarized as follows:  2011 WHOLESALE RETAIL TOTAL Balance at January 1  $  7.5  $  137.5  $  145.0 Provision for losses  5.8  35.6 41.4 Charge-offs  ( 1.4) ( 57.5) ( 58.9) Recoveries   13.9 13.9 Currency translation  (.2)  (2.2) (2.4) Balance at December 31  $  11.7  $  127.3  $  139.0 2010 2009 WHOLESALE RETAIL TOTAL TOTAL Balance at January 1  $  10.5  $  157.1  $ 167.6 $  178.3 Provision for losses  .2  60.8 61.0 90.8 Charge-offs  (2.9)  (94.9)  (97.8)  (115.2) Recoveries  .3 14.2 14.5 7.0 Currency translation  (.6) .3 (.3) 6.7 Balance at December 31  $  7.5 $  137.5  $ 145.0 $  167.6 At December 31, 2011 WHOLESALE RETAIL TOTAL Recorded investment for impaired finance receivables evaluated individually  $ 18.4  $  96.0  $  114.4 Allowance for finance receivables evaluated individually  2.2  25.7 27.9 Recorded investment for finance receivables evaluated collectively $ 1,498.7  $5,674.6  $7,173.3 Allowance for finance receivables evaluated collectively 9.5 101.6  111.1 At December 31, 2010 WHOLESALE RETAIL TOTAL Recorded investment for impaired finance receivables evaluated individually  $  3.4  $ 150.0  $ 153.4 Allowance for finance receivables evaluated individually  1.3  33.6 34.9 Recorded investment for finance receivables evaluated collectively $  980.0  $4,973.2  $5,953.2 Allowance for finance receivables evaluated collectively 6.2  103.9  110.1 The recorded investment of finance receivables that are on non-accrual status in the wholesale segment and the  fleet and owner/operator portfolio classes (see impaired loans below) as of December 31, 2011 are $18.4, $63.9 and  $17.6, as compared to $3.4, $72.2 and $33.9 as of December 31, 2010, respectively. Information regarding finance receivables evaluated individually and collectively is as follows: