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Consolidated Income Statement - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Financing revenue        
Retail financing $ 874 $ 1,004 $ 1,780 $ 1,994
Dealer financing 221 187 385 473
Other 15 13 22 27
Revenue from Contract with Customer, Excluding Assessed Tax 2,276 2,571 4,564 5,241
Depreciation on vehicles subject to operating leases (549) (191) (1,064) (759)
Interest expense (657) (680) (1,268) (1,484)
Net financing margin 1,070 1,700 2,232 2,998
Other revenue        
Premiums Earned, Net 17 17 32 44
Fee based revenue and other 55 53 78 73
Total financing margin and other revenue 1,142 1,770 2,342 3,115
Operating expenses 307 322 655 665
Financing Receivable, Credit Loss, Expense (Reversal) (56) (166) (120) (206)
Insurance expenses 9 4 2 9
Total expenses 260 160 537 468
Other Income / Loss 21 13 (148) (62)
Income before income taxes 903 1,623 1,657 2,585
Provision for income taxes 99 (28) 184 89
Net income 804 1,651 1,473 2,496
Operating Lease, Lease Income $ 1,166 $ 1,367 $ 2,377 $ 2,747