FORD MOTOR CREDIT COMPANY LLC AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS Non-Consumer Portfolio.  We extend credit to dealers primarily in the form of lines of credit to purchase new Ford and Lincoln vehicles as well as used vehicles. Payment is required when the dealer has sold the vehicle. Each non-consumer lending request is evaluated by considering the borrower’s financial condition and the underlying collateral securing the loan. We use a proprietary model to assign each dealer a risk rating. This model uses historical dealer performance data to identify key factors about a dealer that we consider most significant in predicting a dealer’s ability to meet its financial obligations. We also consider numerous other financial and qualitative factors of the dealer’s operations, including capitalization and leverage, liquidity and cash flow, profitability, and credit history with ourselves and other creditors. NOTE 4. FINANCE RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES  (Continued) Dealers are assigned to one of four groups according to risk ratings as follows: We generally suspend credit lines and extend no further funding to dealers classified in Group IV. We regularly review our model to confirm the continued business significance and statistical predictability of the model and may make updates to improve the performance of the model. In addition, we regularly audit dealer inventory and dealer sales records to verify that the dealer is in possession of the financed vehicles and is promptly paying each receivable following the sale of the financed vehicle. The frequency of on-site vehicle inventory audits depends primarily on the dealer’s risk rating. Under our policies, on-site vehicle inventory audits of low-risk dealers are conducted only as circumstances warrant. On-site vehicle inventory audits of higher-risk dealers are conducted with increased frequency based primarily on the dealer’s risk rating, but also considering the results of our electronic monitoring of the dealer’s performance, including daily payment verifications and monthly analyses of the dealer’s financial statements, payoffs, aged inventory, over credit line, and delinquency reports. We typically perform a credit review of each dealer annually and more frequently review certain dealers based on the dealer’s risk rating and total exposure. We adjust the dealer’s risk rating, if necessary. The credit quality of dealer financing receivables is evaluated based on our internal dealer risk rating analysis. A dealer has the same risk rating for its entire dealer financing regardless of the type of financing. The credit quality analysis of dealer financing receivables at December 31, 2019 was as follows (in millions): (a) Total past due dealer financing receivables at December 31, 2019 were $62 million.  The credit quality analysis of dealer financing receivables at December 31, 2020 was as follows (in millions): (a) Total past due dealer financing receivables at December 31, 2020 were $99 million. • Group I  – strong to superior financial metrics; • Group II  – fair to favorable financial metrics; • Group III  – marginal to weak financial metrics; and • Group IV  – poor financial metrics, including dealers classified as uncollectible. Dealer financing Group I $ 31,206  Group II 5,407  Group III 2,108  Group IV 189  Total (a) $ 38,910  Amortized Cost Basis by Origination Year Dealer Loans Prior to 2016 2016 2017 2018 2019 2020 Total Wholesale Loans Total Group I $ 503  $ 129  $ 110  $ 188  $ 70  $ 248  $ 1,248  $ 18,769  $ 20,017  Group II 38  20  11  35  3  87  194  4,680  4,874  Group III 9  —  3  19  3  35  69  1,464  1,533  Group IV 2  —  —  —  2  6  10  83  93  Total (a) $ 552  $ 149  $ 124  $ 242  $ 78  $ 376  $ 1,521  $ 24,996  $ 26,517  78