XML 16 R2.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Income Statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Financing revenue      
Retail financing $ 4,236 $ 3,514 $ 3,888
Dealer financing 2,403 1,079 774
Other 132 63 46
Total Financing Revenue 10,876 9,225 9,999
Depreciation on vehicles subject to operating leases (2,309) (2,240) (1,626)
Interest expense (6,311) (3,334) (2,790)
Net financing margin 2,256 3,651 5,583
Other revenue      
Insurance premiums earned 119 75 75
Fee based revenue and other 124 116 176
Total financing margin and other revenue 2,499 3,842 5,834
Expenses      
Operating expenses 1,360 1,329 1,325
Provision for credit losses 278 39 (310)
Insurance expenses 53 (4) 10
Total expenses 1,691 1,364 1,025
Other income, net 514 (41) (78)
Income before income taxes 1,322 2,437 4,731
Provision for income taxes (2) 448 210
Net income 1,324 1,989 4,521
Operating Lease, Lease Income $ 4,105 $ 4,569 $ 5,291