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Consolidated Income Statement - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Financing revenue        
Retail financing $ 1,013 $ 874 $ 1,942 $ 1,780
Dealer financing 600 221 1,104 385
Other 31 15 58 22
Revenue from Contract with Customer, Excluding Assessed Tax 2,673 2,276 5,182 4,564
Depreciation on vehicles subject to operating leases (555) (549) (1,114) (1,064)
Interest expense (1,530) (657) (2,922) (1,268)
Net financing margin 588 1,070 1,146 2,232
Other revenue        
Premiums Earned, Net 29 17 55 32
Fee based revenue and other 53 55 74 78
Total financing margin and other revenue 670 1,142 1,275 2,342
Operating expenses 340 307 660 655
Financing Receivable, Credit Loss, Expense (Reversal) 40 (56) 117 (120)
Insurance expenses 35 9 40 2
Total expenses 415 260 817 537
Other Income / Loss 126 21 226 (148)
Income before income taxes 381 903 684 1,657
Provision for income taxes 95 99 158 184
Net income 286 804 526 1,473
Operating Lease, Lease Income $ 1,029 $ 1,166 $ 2,078 $ 2,377