Income Tax (Tables)

12 Months Ended

Dec. 31, 2012

Components of Provision for Tax on Income

The components of the provision (benefit) for tax on income were as follows at December 31:

	2012			2011			2010
Current:
Federal	$	154		$	176		$	135
State		2			3			4
		156			179			139
Deferred:
Federal		(128	)		(139	)		(83	)
	$	28		$	40		$	56

Components of Net Deferred Income Tax Liability

The tax impact of temporary differences constitute our net deferred income tax liability. The components of the net deferred income tax liability consisted of the following at December 31:

	2012			2011
Deferred tax assets:
Allowance for losses on receivables	$	126		$	133
Other		16			22
		142			155
Deferred tax liabilities:
Leased assets		(1,246	)		(1,387	)
Net deferred tax liability	$	(1,104	)	$	(1,232	)

Schedule of Income Tax Computation

Income tax computed at the United States federal income tax rate and the provision for tax on income differ as follows for the years ended December 31:

	2012				2011				2010
Tax computed at federal statutory rate	$	27	35.0	%	$	39	35.0	%	$	53	35.0	%
State income taxes, net of federal tax benefit		1	1.4			1	1.0			3	1.8
	$	28	36.4	%	$	40	36.0	%	$	56	36.8	%