Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL DATA

SELECTED QUARTERLY FINANCIAL DATA (Unaudited)

Selected financial data by calendar quarter were as follows (in millions):

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Full Year
2019
Total revenue	$	3,194	$	3,188	$	3,127	$	3,114	$	12,623
Depreciation on vehicles subject to operating leases	(924)		(894)		(894)		(923)		(3,635)
Interest expense	(1,121)		(1,114)		(1,081)		(1,073)		(4,389)
Total financing margin and other revenue	1,149		1,180		1,152		1,118		4,599
Provision for credit losses	33		63		93		107		296
Net income	603		613		571		441		2,228
2020
Total revenue	$	3,032	$	2,793	$	2,855	$	2,782	$	11,462
Depreciation on vehicles subject to operating leases	(1,052)		(990)		(537)		(656)		(3,235)
Interest expense	(984)		(839)		(792)		(787)		(3,402)
Total financing margin and other revenue	996		964		1,526		1,339		4,825
Provision for credit losses	586		93		86		63		828
Net income	21		407		859		637		1,924