Related Party Transactions

3 Months Ended

Dec. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions

Note 14 – Related Party Transactions

As of December 31, 2014, there were no material changes to our related party agreements or relationships as described in our fiscal 2014 Form 10-K. The following tables summarize amounts included in our Consolidated Statement of Income and Consolidated Balance Sheet under various related party agreements or relationships:

		Three Months Ended				Nine Months Ended
		December 31,				December 31,
(Dollars in millions)			2014		2013		2014		2013
Net financing revenues:
	Manufacturers’ subvention support and other revenues	$	315	$	251	$	884	$	733
	Credit support fees incurred	$	(23)	$	(21)	$	(66)	$	(61)
	Interest expense on loans payable to affiliates	$	(1)	$	(1)	$	(2)	$	(2)
Insurance earned premiums and contract revenues:
	Affiliate insurance premiums and contract revenues	$	32	$	33	$	97	$	99
Investments and other income, net:
	Interest earned on notes receivable from affiliates	$	1	$	1	$	3	$	4
Expenses:
	Shared services charges and other expenses	$	16	$	15	$	48	$	45
	Employee benefits expense	$	5	$	9	$	18	$	27

(Dollars in millions)		December 31, 2014		March 31, 2014
Assets:
Finance receivables, net
	Accounts receivable from affiliates	$	85	$	74
	Direct finance receivables from affiliates	$	6	$	6
	Notes receivable under home loan programs	$	12	$	15
	Deferred retail origination costs paid to affiliates	$	1	$	1
	Deferred retail subvention income from affiliates	$	(819)	$	(768)
Investments in operating leases, net
	Leases to affiliates	$	7	$	7
	Deferred lease subvention income from affiliates	$	(954)	$	(806)
Other assets
	Notes receivable from affiliates	$	821	$	1,172
	Other receivables from affiliates	$	5	$	2
	Subvention support receivable from affiliates	$	119	$	159
Liabilities:
Other liabilities
	Unearned affiliate insurance premiums and contract revenues	$	252	$	244
	Accounts payable to affiliates	$	116	$	216
	Notes payable to affiliates	$	28	$	22
Shareholder’s Equity:
	Dividends paid	$	435	$	665
	Stock-based compensation	$	2	$	2

In December 2014, TMCC entered into an agreement for the sale of certain assets relating to its commercial finance business to a newly-formed subsidiary of Toyota Industries Corporation, which forms part of the group of companies known as the Toyota Group. The closing date of the transaction has not yet been determinedand the assets to be sold are not available for immediate sale in their present condition, as the transaction is subject to several closing conditions that have not yet been satisfied.  The assets expected to be sold represent approximately $964 million of finance receivables, net and $905 million of investments in operating leases, net as of December 31, 2014.