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Consolidated Income Statement - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Financing revenue        
Retail financing $ 1,364 $ 1,013 $ 2,655 $ 1,942
Dealer financing 750 600 1,446 1,104
Other 43 31 83 58
Revenue from Contract with Customer, Excluding Assessed Tax 3,187 2,673 6,231 5,182
Depreciation on vehicles subject to operating leases (613) (555) (1,223) (1,114)
Interest expense (1,897) (1,530) (3,745) (2,922)
Net financing margin 677 588 1,263 1,146
Other revenue        
Premiums Earned, Net 42 29 78 55
Fee based revenue and other 54 53 80 74
Total financing margin and other revenue 773 670 1,421 1,275
Operating expenses 343 340 686 660
Financing Receivable, Credit Loss, Expense (Reversal) 95 40 183 117
Insurance expenses 97 35 127 40
Total expenses 535 415 996 817
Other Income / Loss 105 126 244 226
Income before income taxes 343 381 669 684
Provision for income taxes 88 95 180 158
Net income 255 286 489 526
Operating Lease, Lease Income $ 1,030 $ 1,029 $ 2,047 $ 2,078