Installment Receivables (Tables)

9 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Summary of Installment Receivables

The following table summarizes the installment receivables:

	December 31, 2019			March 31, 2019
	(in millions)
Installment receivables, gross	$	1,578		$	1,212
Deferred interest	(84		)	(71		)
Installment receivables, net of deferred interest	1,494			1,141
Allowance for credit losses	(244		)	(215		)
Installment receivables, net	$	1,250		$	926
Classified in the consolidated balance sheets as:
Accounts and notes receivable, net	$	951		$	679
Other assets	299			247
Installment receivables, net	$	1,250		$	926

Balance and Aging of Financing Receivables by Credit Category

The balance and aging of installment receivables on a gross basis by credit category were as follows:

	December 31, 2019						March 31, 2019
	Prime		Subprime		Total		Prime		Subprime		Total
	(in millions)						(in millions)
Unbilled	$	856	$	612	$	1,468	$	667	$	459	$	1,126
Billed - current	53		31		84		43		22		65
Billed - past due	11		15		26		10		11		21
Installment receivables, gross	$	920	$	658	$	1,578	$	720	$	492	$	1,212

Schedule of Deferred Interest and Allowance for Credit Losses

Activity in the deferred interest and allowance for credit losses for the installment receivables was as follows:

	Nine Months Ended			Twelve Months Ended
	December 31, 2019			March 31, 2019
	(in millions)
Deferred interest and allowance for credit losses, beginning of period	$	286		$	323
Adjustment to deferred interest on short- and long-term installment receivables due to adoption of revenue recognition standard on April 1, 2018	—			(50		)
Bad debt expense	142			116
Write-offs, net of recoveries	(114		)	(118		)
Change in deferred interest on short- and long-term installment receivables	14			15
Deferred interest and allowance for credit losses, end of period	$	328		$	286