Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Mar. 31, 2012

Selected Quarterly Financial Data (Unaudited) [Abstract]

Selected Quarterly Financial Data (Unaudited)

Note 17 – Selected Quarterly Financial Data (Unaudited)
		First		Second		Third		Fourth
(Dollars in millions)		Quarter		Quarter		Quarter		Quarter
Fiscal 2012:
Total financing revenue	$	1,920	$	1,870	$	1,835	$	1,804
Depreciation on operating leases		825		829		844		841
Interest expense		457		149		163		531
Net financing revenue		638		892		828		432
Other income		190		144		212		171
Provision for credit losses		(203)		11		56		38
Expenses		283		295		286		318
Income before income tax expense		748		730		698		247
Provision for income taxes		283		279		266		109
Net income	$	465	$	451	$	432	$	138
Fiscal 2011:
Total financing revenue	$	2,024	$	2,032	$	2,023	$	1,985
Depreciation on operating leases		811		824		872		846
Interest expense		491		593		234		296
Net financing revenue		722		615		917		843
Other income		158		186		259		176
Provision for credit losses		(289)		(14)		(176)		46
Expenses		242		381		339		344
Income before income tax expense		927		434		1,013		629
Provision for income taxes		357		165		387		241
Net income	$	570	$	269	$	626	$	388

Other income is comprised of insurance earned premiums and contract revenues as well as net investment and other income. Expenses include operating and administrative expenses as well as insurance losses and loss adjustment expenses.