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Consolidated Income Statement - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Financing revenue        
Retail financing $ 857 $ 955 $ 2,637 $ 2,949
Dealer financing 270 148 655 621
Other 17 9 39 36
Revenue from Contract with Customer, Excluding Assessed Tax 2,267 2,397 6,831 7,638
Depreciation on vehicles subject to operating leases (579) (441) (1,643) (1,200)
Interest expense (851) (668) (2,119) (2,152)
Net financing margin 837 1,288 3,069 4,286
Other revenue        
Premiums Earned, Net 19 15 51 59
Fee based revenue and other 17 61 95 134
Total financing margin and other revenue 873 1,364 3,215 4,479
Operating expenses 336 323 991 988
Financing Receivable, Credit Loss, Expense (Reversal) 39 (59) (81) (265)
Insurance expenses (2) 5 0 14
Total expenses 373 269 910 737
Other Income / Loss 89 (18) (59) (80)
Income before income taxes 589 1,077 2,246 3,662
Provision for income taxes 151 97 335 186
Net income 438 980 1,911 3,476
Operating Lease, Lease Income $ 1,123 $ 1,285 $ 3,500 $ 4,032