2.4.0.8101200 - Disclosure - Commitments and Contingenciestruefalsefalse1false falsefalseFROM_Apr01_2013_TO_Jun30_2013http://www.sec.gov/CIK0000834071duration2013-04-01T00:00:002013-06-30T00:00:001true 1us-gaap_CommitmentsAndContingenciesDisclosureAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Commitments and Contingencies [Abstract]2false 2us-gaap_CommitmentsAndContingenciesDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00Note 12 – Commitments and ContingenciesCommitments and GuaranteesWe have entered into certain commitments and guarantees described below. The maximum amounts under these commitments and guarantees are summarized in the table below:<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 18px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"> </td><td colspan="5" style="width: 240px; text-align:right;border-color:#000000;min-width:240px;">Maximum commitment amount as of</td></tr><tr style="height: 18px"><td colspan="3" style="width: 395px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:395px;">(Dollars in millions)</td><td colspan="2" style="width: 125px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:125px;">June 30, 2013</td><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:15px;"> </td><td colspan="2" style="width: 100px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:100px;">March 31, 2013</td></tr><tr style="height: 18px"><td colspan="3" style="width: 395px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:395px;">Commitments:</td><td style="width: 40px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:85px;"> </td><td style="width: 15px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:60px;"> </td></tr><tr style="height: 18px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td colspan="2" style="width: 380px; text-align:left;border-color:#000000;min-width:380px;">Commitments under credit facilities with vehicle and </td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; text-align:right;border-color:#000000;min-width:85px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; text-align:right;border-color:#000000;min-width:60px;"> </td></tr><tr style="height: 18px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;">industrial equipment dealers</td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;">$</td><td style="width: 85px; text-align:right;border-color:#000000;min-width:85px;"> 7,552</td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;">$</td><td style="width: 60px; text-align:right;border-color:#000000;min-width:60px;"> 7,396</td></tr><tr style="height: 18px"><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td colspan="2" style="width: 380px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:380px;">Less: Funded commitments</td><td style="width: 40px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:85px;"> 6,352</td><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:60px;"> 6,290</td></tr><tr style="height: 18px"><td style="width: 15px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td colspan="2" style="width: 380px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:380px;">Unfunded commitments</td><td style="width: 40px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:85px;"> 1,200</td><td style="width: 15px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:60px;"> 1,106</td></tr><tr style="height: 18px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"> </td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; text-align:right;border-color:#000000;min-width:85px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; text-align:right;border-color:#000000;min-width:60px;"> </td></tr><tr style="height: 18px"><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td colspan="2" style="width: 380px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:380px;">Minimum lease commitments</td><td style="width: 40px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:85px;"> 70</td><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:60px;"> 74</td></tr><tr style="height: 18px"><td colspan="3" style="width: 395px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:395px;">Total unfunded commitments</td><td style="width: 40px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:85px;"> 1,270</td><td style="width: 15px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:60px;"> 1,180</td></tr><tr style="height: 18px"><td colspan="3" style="width: 395px; text-align:left;border-color:#000000;min-width:395px;">Guarantees and other contingencies:</td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; text-align:right;border-color:#000000;min-width:85px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; text-align:right;border-color:#000000;min-width:60px;"> </td></tr><tr style="height: 18px"><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td colspan="2" style="width: 380px; text-align:left;border-color:#000000;min-width:380px;">Guarantees of affiliate pollution control and solid waste </td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; text-align:right;border-color:#000000;min-width:85px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; text-align:right;border-color:#000000;min-width:60px;"> </td></tr><tr style="height: 18px"><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 365px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:365px;">disposal bonds</td><td style="width: 40px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:85px;"> 100</td><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:60px;"> 100</td></tr><tr style="height: 23px"><td colspan="3" style="width: 395px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:395px;">Total unfunded commitments and guarantees </td><td style="width: 40px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:40px;">$</td><td style="width: 85px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:85px;"> 1,370</td><td style="width: 15px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:40px;">$</td><td style="width: 60px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:60px;"> 1,280</td></tr><tr style="height: 18px"><td style="width: 15px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 15px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 365px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:365px;"> </td><td style="width: 40px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:85px;"> </td><td style="width: 15px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:60px;"> </td></tr><tr style="height: 18px"><td colspan="3" style="width: 395px; text-align:left;border-color:#000000;min-width:395px;">Wholesale financing demand note facilities</td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; text-align:right;border-color:#000000;min-width:85px;"> 11,753</td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; text-align:right;border-color:#000000;min-width:60px;"> 11,475</td></tr><tr style="height: 18px"><td colspan="3" style="width: 395px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:395px;">Less: Funded facilities</td><td style="width: 40px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 85px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:85px;"> 8,951</td><td style="width: 15px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:40px;"> </td><td style="width: 60px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:60px;"> 8,284</td></tr><tr style="height: 25px"><td colspan="3" style="width: 395px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:395px;">Unfunded wholesale financing demand note facilities</td><td style="width: 40px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:40px;">$</td><td style="width: 85px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:85px;"> 2,802</td><td style="width: 15px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 40px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:40px;">$</td><td style="width: 60px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:60px;"> 3,191</td></tr></table></div>Wholesale financing demand note facilities are not considered to be contractual commitments as they are not binding arrangements under which TMCC is required to perform. We are party to a 15-year lease agreement, which expires in 2018, with TMS for our headquarters location in the TMS headquarters complex in Torrance, California. Minimum lease commitments include $35 million and $37 million for facilities lease with affiliates at June 30, 2013 and March 31, 2013, respectively. At June 30, 2013, minimum future commitments under lease agreements to which we are a lessee, including those under the TMS lease, are as follows (dollars in millions): <div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 16px"><td style="width: 190px; text-align:left;border-color:#000000;min-width:190px;"> </td><td style="width: 170px; text-align:left;border-color:#000000;min-width:170px;"> </td><td style="width: 125px; text-align:left;border-color:#000000;min-width:125px;"> </td><td colspan="2" style="width: 149px; text-align:right;border-color:#000000;min-width:149px;">Future minimum </td></tr><tr style="height: 16px"><td style="width: 190px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:190px;">Years ending March 31, </td><td style="width: 170px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:170px;"> </td><td style="width: 125px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:125px;"> </td><td colspan="2" style="width: 149px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:149px;">lease payments</td></tr><tr style="height: 16px"><td style="width: 190px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:190px;">2014</td><td style="width: 170px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:170px;"> </td><td style="width: 125px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:125px;"> </td><td style="width: 50px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:50px;">$</td><td style="width: 99px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:99px;"> 14</td></tr><tr style="height: 16px"><td style="width: 190px; text-align:left;border-color:#000000;min-width:190px;">2015</td><td style="width: 170px; text-align:left;border-color:#000000;min-width:170px;"> </td><td style="width: 125px; text-align:left;border-color:#000000;min-width:125px;"> </td><td style="width: 50px; text-align:right;border-color:#000000;min-width:50px;"> </td><td style="width: 99px; text-align:right;border-color:#000000;min-width:99px;"> 18</td></tr><tr style="height: 16px"><td style="width: 190px; text-align:left;border-color:#000000;min-width:190px;">2016</td><td style="width: 170px; text-align:left;border-color:#000000;min-width:170px;"> </td><td style="width: 125px; text-align:left;border-color:#000000;min-width:125px;"> </td><td style="width: 50px; text-align:right;border-color:#000000;min-width:50px;"> </td><td style="width: 99px; text-align:right;border-color:#000000;min-width:99px;"> 17</td></tr><tr style="height: 16px"><td style="width: 190px; text-align:left;border-color:#000000;min-width:190px;">2017</td><td style="width: 170px; text-align:left;border-color:#000000;min-width:170px;"> </td><td style="width: 125px; text-align:left;border-color:#000000;min-width:125px;"> </td><td style="width: 50px; text-align:right;border-color:#000000;min-width:50px;"> </td><td style="width: 99px; text-align:right;border-color:#000000;min-width:99px;"> 12</td></tr><tr style="height: 16px"><td style="width: 190px; text-align:left;border-color:#000000;min-width:190px;">2018</td><td style="width: 170px; text-align:left;border-color:#000000;min-width:170px;"> </td><td style="width: 125px; text-align:left;border-color:#000000;min-width:125px;"> </td><td style="width: 50px; text-align:right;border-color:#000000;min-width:50px;"> </td><td style="width: 99px; text-align:right;border-color:#000000;min-width:99px;"> 7</td></tr><tr style="height: 16px"><td style="width: 190px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:190px;">Thereafter</td><td style="width: 170px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:170px;"> </td><td style="width: 125px; border-bottom-style:solid;border-bottom-width:1px;text-align:left;border-color:#000000;min-width:125px;"> </td><td style="width: 50px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:50px;"> </td><td style="width: 99px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:99px;"> 2</td></tr><tr style="height: 16px"><td style="width: 190px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:190px;">Total</td><td style="width: 170px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:170px;"> </td><td style="width: 125px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:left;border-color:#000000;min-width:125px;"> </td><td style="width: 50px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:50px;">$</td><td style="width: 99px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:99px;"> 70</td></tr></table></div>Note 12 – Commitments and Contingencies (Continued) Commitments We provide fixed and variable rate credit facilities to vehicle and industrial equipment dealers. These credit facilities are typically used for facilities refurbishment, real estate purchases, and working capital requirements. These loans are generally collateralized with liens on real estate, vehicle inventory, and/or other dealership assets, as appropriate. We obtain a personal guarantee from the vehicle or industrial equipment dealer or a corporate guarantee from the dealership when deemed prudent. Although the loans are typically collateralized or guaranteed, the value of the underlying collateral or guarantees may not be sufficient to cover our exposure under such agreements. Our credit facility pricing reflects market conditions, the competitive environment, the level of dealer support required for the facility, and the credit worthiness of each dealer. Amounts drawn under these facilities are reviewed for collectability on a quarterly basis, in conjunction with our evaluation of the allowance for credit losses. We also provide financing to various multi-franchise dealer organizations, often as part of a lending consortium, for wholesale, working capital, real estate, and business acquisitions. Guarantees and Other Contingencies TMCC has guaranteed bond obligations totaling $100 million in principal that were issued by Putnam County, West Virginia and Gibson County, Indiana to finance the construction of pollution control facilities at manufacturing plants of certain TMCC affiliates. The bonds mature in the following fiscal years ending March 31: 2028 - $20 million; 2029 - $50 million; 2030 - $10 million; 2031 - $10 million; and 2032 - $10 million. TMCC would be required to perform under the guarantees in the event of non-payment on the bonds and other related obligations. TMCC is entitled to reimbursement by the affiliates for any amounts paid. TMCC receives an annual fee of $78 thousand for guaranteeing such payments. TMCC has not been required to perform under any of these affiliate bond guarantees as of June 30, 2013 and March 31, 2013. Indemnification In the ordinary course of business, we enter into agreements containing indemnification provisions standard in the industry related to several types of transactions, including, but not limited to, debt funding, derivatives, securitization transactions, and our vendor and supplier agreements. Performance under these indemnities would occur upon a breach of the representations, warranties or covenants made or given, or a third party claim. In addition, we have agreed in certain debt and derivative issuances, and subject to certain exceptions, to gross-up payments due to third parties in the event that withholding tax is imposed on such payments. In addition, certain of our funding arrangements would require us to pay lenders for increased costs due to certain changes in laws or regulations. Due to the difficulty in predicting events which could cause a breach of the indemnification provisions or trigger a gross-up or other payment obligation, we are not able to estimate our maximum exposure to future payments that could result from claims made under such provisions. We have not made any material payments in the past as a result of these provisions, and as of June 30, 2013, we determined that it is not probable that we will be required to make any material payments in the future. As of June 30, 2013 and March 31, 2013, no amounts have been recorded under these indemnifications. Note 12 – Commitments and Contingencies (Continued) Litigation Various legal actions, governmental proceedings and other claims are pending or may be instituted or asserted in the future against us with respect to matters arising in the ordinary course of business. Certain of these actions are or purport to be class action suits, seeking sizeable damages and/or changes in our business operations, policies and practices. Certain of these actions are similar to suits that have been filed against other financial institutions and captive finance companies. We perform periodic reviews of pending claims and actions to determine the probability of adverse verdicts and resulting amounts of liability. We establish accruals for legal claims when payments associated with the claims become probable and the costs can be reasonably estimated. When we are able, we also determine estimates of reasonably possible loss or range of loss, whether in excess of any related accrued liability or where there is no accrued liability. Given the inherent uncertainty associated with legal matters, the actual costs of resolving legal claims and associated costs of defense may be substantially higher or lower than the amounts for which accruals have been established. Based on available information and established accruals, we do not believe it is reasonably possible that the results of these proceedings, in the aggregate, will have a material adverse effect on our consolidated financial condition or results of operations. falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for commitments and contingencies.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 14 -Paragraph 3 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. 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