Other Assets and Other Liabilities and Deferred Income (Tables)

3 Months Ended

Mar. 31, 2020

Other Assets and Other Liabilities and Deferred Income [Abstract]

Schedule of Other Assets and Other Liabilities [Table Text Block]

Other assets were as follows (in millions):

	December 31, 2019		March 31, 2020
Accrued interest and other non-finance receivables	$	898	$	847
Collateral held for resale, at net realizable value	843		803
Prepaid reinsurance premiums and other reinsurance recoverables	687		689
Property and equipment, net of accumulated depreciation (a)	212		212
Deferred charges - income taxes	171		168
Investment in non-consolidated affiliates (b)	132		126
Operating lease assets	108		103
Other	347		354
Total other assets	$	3,398	$	3,302

__________

(a) Accumulated depreciation was $393 million and $396 million at December 31, 2019 and March 31, 2020, respectively.

(b) Adoption of ASU 2016-13 reduced investment in non-consolidated affiliates $8 million. See Note 2 for additional information.

Returned operating lease vehicles and repossessed vehicles are classified as collateral held for resale and recorded at net realizable value.  At March 31, 2020, we reduced the value of our collateral held for resale by $59 million to reflect the impact of COVID-19 economic conditions on the expected auction values, with a charge of $54 million to Depreciation on vehicles subject to operating leases and a charge of $5 million to Provision for credit losses.

Other liabilities and deferred revenue were as follows (in millions):

	December 31, 2019		March 31, 2020
Unearned insurance premiums and fees	$	806	$	805
Interest payable	888		608
Income tax and related interest (a)	433		212
Operating lease liabilities	110		105
Deferred revenue	110		103
Other	286		250
Total other liabilities and deferred revenue	$	2,633	$	2,083

__________

(a)

Includes tax and interest payable to affiliated companies of $294 million and $75 million at December 31, 2019 and March 31, 2020, respectively.