Equity in Net Assets of Non-consolidated Affiliates

3 Months Ended

Mar. 31, 2023

Noncontrolling Interest [Abstract]

Equity in Net Assets of Non-consolidated Affiliates

Equity in Net Assets of Nonconsolidated Affiliates

We use the equity method to account for our equity interest in joint ventures. The income of these joint ventures is not consolidated into our financial statements; rather, our proportionate share of the earnings is reflected as equity income.

There have been no ownership changes in our joint ventures since December 31, 2022. The following table presents certain aggregated operating data of our joint ventures:

	Three Months Ended March 31,
Summarized Operating Data	2023		2022
Finance charge income	$	392	$	451
Income before income taxes	$	155	$	206
Net income	$	116	$	154

At March 31, 2023 and December 31, 2022, we had undistributed earnings of $836 million and $795 million related to our nonconsolidated affiliates.