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Consolidated Income Statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing revenue      
Retail financing $ 5,637 $ 4,236 $ 3,514
Dealer financing 2,922 2,403 1,079
Other 170 132 63
Total Financing Revenue 12,946 10,876 9,225
Depreciation on vehicles subject to operating leases (2,482) (2,309) (2,240)
Interest expense (7,583) (6,311) (3,334)
Net financing margin 2,881 2,256 3,651
Other revenue      
Insurance premiums earned 171 119 75
Fee based revenue and other 136 124 116
Total financing margin and other revenue 3,188 2,499 3,842
Expenses      
Operating expenses 1,395 1,360 1,329
Financing Receivable, Credit Loss, Expense (Reversal) 417 278 39
Insurance expenses 146 53 (4)
Total expenses 1,958 1,691 1,364
Other income, net 424 514 (41)
Income before income taxes 1,654 1,322 2,437
Provision for income taxes 398 (2) 448
Net income 1,256 1,324 1,989
Operating Lease, Lease Income $ 4,217 $ 4,105 $ 4,569