SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Segment Reporting Information

Key operating data for our business segments for the periods ended or at September 30 was as follows (in millions):


	United States and Canada		Europe			All Other		Total Segments		Unallocated Other		Total
Third Quarter 2024
Total revenue	$	2,877	$	375		$	111	$	3,363	$	—	$	3,363
Total revenue less:
Depreciation on vehicles subject to operating leases	591		9			—		600		—		600
Interest expense	1,551		216			63		1,830		48		1,878
Provision for credit losses	83		6			10		99		—		99
Other segment items (a)	191		(5)			17		203		39		242
Income before income taxes	$	461	$	149		$	21	$	631	$	(87)	$	544

Third Quarter 2025
Total revenue	$	3,077	$	402		$	92	$	3,571	$	—	$	3,571
Total revenue less:
Depreciation on vehicles subject to operating leases	611		15			—		626		—		626
Interest expense	1,473		204			49		1,726		76		1,802
Provision for credit losses	111		13			11		135		—		135
Other segment items (a)	284		172			16		472		(95)		377
Income before income taxes	$	598	$	(2)	(b)	$	16	$	612	$	19	$	631

First Nine Months 2024
Total revenue	$	8,278	$	1,127		$	347	$	9,752	$	—	$	9,752
Total revenue less:
Depreciation on vehicles subject to operating leases	1,800		23			—		1,823		—		1,823
Interest expense	4,530		653			198		5,381		242		5,623
Provision for credit losses	223		18			41		282		—		282
Other segment items (a)	703		124			57		884		(73)		811
Income before income taxes	$	1,022	$	309		$	51	$	1,382	$	(169)	$	1,213
Other segment disclosures:
Net finance receivables and net investment in operating leases	$	116,916	$	20,845		$	4,446	$	142,207	$	—	$	142,207
Total assets	127,289		24,732			5,035		157,056		—		157,056

First Nine Months 2025
Total revenue	$	9,040	$	1,152		$	285	$	10,477	$	—	$	10,477
Total revenue less:
Depreciation on vehicles subject to operating leases	1,802		32			—		1,834		—		1,834
Interest expense	4,430		594			153		5,177		174		5,351
Provision for credit losses	311		37			41		389		—		389
Other segment items (a)	884		410			55		1,349		(302)		1,047
Income before income taxes	$	1,613	$	79	(b)	$	36	$	1,728	$	128	$	1,856
Other segment disclosures:
Net finance receivables and net investment in operating leases	$	119,452	$	22,643		$	3,597	$	145,692	$	—	$	145,692
Total assets	131,212		26,099			4,023		161,334		—		161,334

__________

(a)Other items consists of Operating expenses, Insurance expenses, and Other income/(loss), net.

(b)Includes charges of $89 million and $177 million for the third quarter and the first nine months of 2025, respectively, related to an industrywide review of historical U.K. dealer commissions.