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Consolidated Income Statement - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Financing revenue        
Retail financing $ 1,104 $ 857 $ 3,046 $ 2,637
Dealer financing 617 270 1,721 655
Other 36 17 94 39
Revenue from Contract with Customer, Excluding Assessed Tax 2,774 2,267 7,956 6,831
Depreciation on vehicles subject to operating leases (576) (579) (1,690) (1,643)
Interest expense (1,653) (851) (4,575) (2,119)
Net financing margin 545 837 1,691 3,069
Other revenue        
Premiums Earned, Net 29 19 84 51
Fee based revenue and other 25 17 99 95
Total financing margin and other revenue 599 873 1,874 3,215
Operating expenses 340 336 1,000 991
Financing Receivable, Credit Loss, Expense (Reversal) 74 39 191 (81)
Insurance expenses 14 (2) 54 0
Total expenses 428 373 1,245 910
Other Income / Loss 187 89 413 (59)
Income before income taxes 358 589 1,042 2,246
Provision for income taxes 119 151 277 335
Net income 239 438 765 1,911
Operating Lease, Lease Income $ 1,017 $ 1,123 $ 3,095 $ 3,500