Equity in Net Assets of Nonconsolidated Affiliates

3 Months Ended

Mar. 31, 2024

Noncontrolling Interest [Abstract]

Equity in Net Assets of Nonconsolidated Affiliates

Equity in Net Assets of Nonconsolidated Affiliates

We use the equity method to account for our equity interest in joint ventures. Revenue and expenses of our joint ventures are not consolidated into our financial statements; rather, our proportionate share of the earnings of each joint venture is reflected as equity income.

There have been no ownership changes in our joint ventures since December 31, 2023. The following table presents certain aggregated operating data of our joint ventures:

	Three Months Ended March 31,
Summarized Operating Data	2024		2023
Finance charge income	$	286	$	392
Income before income taxes	$	120	$	155
Net income	$	90	$	116

At March 31, 2024 and December 31, 2023, we had undistributed earnings of $868 million and $837 million related to our nonconsolidated affiliates.