Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables summarize our financial assets and financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy except for certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient and are excluded from the leveling information provided in the tables below. Fair value amounts presented below are intended to permit reconciliation of the fair value hierarchy to the amounts presented on our Consolidated Balance Sheets.

	December 31, 2023
								Counterparty
								netting &			Fair
	Level 1		Level 2			Level 3		collateral			value
Investments in marketable securities:
Available-for-sale debt securities:
U.S. government and agency obligations	$	741	$	4		$	-	$	-		$	745
Foreign government and agency obligations		-		9			-		-			9
Municipal debt securities		-		8			-		-			8
Corporate debt securities		-		422			-		-			422
Mortgage-backed securities:
U.S. government agency		-		115			3		-			118
Non-agency residential		-		6			2		-			8
Non-agency commercial		-		47			9		-			56
Asset-backed securities		-		77			42		-			119
Available-for-sale debt securities total		741		688			56		-			1,485
Equity investments:
Fixed income mutual funds:
Fixed income mutual funds measured at    net asset value												1,117
Total return bond funds		1,279		-			-		-			1,279
Equity mutual funds		992		-			-		-			992
Equity investments total		2,271		-			-		-			3,388
Investments in marketable securities total		3,012		688			56		-			4,873
Derivative assets:
Interest rate swaps		-		1,279			-		-			1,279
Foreign currency swaps		-		141			-		-			141
Counterparty netting and collateral		-		-			-		(1,375	)		(1,375	)
Derivative assets total		-		1,420			-		(1,375	)		45
Assets at fair value		3,012		2,108			56		(1,375	)		4,918
Derivative liabilities:
Interest rate swaps		-		(104	)		-		-			(104	)
Foreign currency swaps		-		(748	)		-		-			(748	)
Counterparty netting and collateral		-		-			-		803			803
Liabilities at fair value		-		(852	)		-		803			(49	)
Net assets at fair value	$	3,012	$	1,256		$	56	$	(572	)	$	4,869

	March 31, 2023
								Counterparty
								netting &			Fair
	Level 1		Level 2			Level 3		collateral			value
Investments in marketable securities:
Available-for-sale debt securities:
U.S. government and agency obligations	$	740	$	4		$	-	$	-		$	744
Foreign government and agency obligations		-		12			-		-			12
Municipal debt securities		-		8			-		-			8
Corporate debt securities		-		430			-		-			430
Mortgage-backed securities:
U.S. government agency		-		73			-		-			73
Non-agency residential		-		6			3		-			9
Non-agency commercial		-		53			5		-			58
Asset-backed securities		-		80			40		-			120
Available-for-sale debt securities total		740		666			48		-			1,454
Equity investments:
Fixed income mutual funds:
Fixed income mutual funds measured at    net asset value												1,081
Total return bond funds		1,631		-			-		-			1,631
Equity mutual funds		871		-			-		-			871
Equity investments total		2,502		-			-		-			3,583
Investments in marketable securities total		3,242		666			48		-			5,037
Derivative assets:
Interest rate swaps		-		1,888			-		-			1,888
Foreign currency swaps		-		49			-		-			49
Counterparty netting and collateral		-		-			-		(1,886	)		(1,886	)
Derivative assets total		-		1,937			-		(1,886	)		51
Assets at fair value		3,242		2,603			48		(1,886	)		5,088
Derivative liabilities:
Interest rate swaps		-		(468	)		-		-			(468	)
Foreign currency swaps		-		(1,002	)		-		-			(1,002	)
Counterparty netting and collateral		-		-			-		1,453			1,453
Liabilities at fair value		-		(1,470	)		-		1,453			(17	)
Net assets at fair value	$	3,242	$	1,133		$	48	$	(433	)	$	5,071

Financial Assets and Liabilities Not Carried at Fair Value on Recurring Basis on Consolidated Balance Sheets

The following tables provide information about assets and liabilities not carried at fair value on a recurring basis on our Consolidated Balance Sheets:

	December 31, 2023
	Carrying								Total Fair
	value		Level 1		Level 2		Level 3		value
Financial assets
Finance receivables
Retail loan	$	84,886	$	-	$	-	$	84,868	$	84,868
Wholesale		7,161		-		-		7,180		7,180
Real estate		4,818		-		-		4,809		4,809
Working capital		4,353		-		-		4,292		4,292
Financial liabilities
Unsecured notes and loans payable	$	85,744	$	-	$	83,912	$	-	$	83,912
Secured notes and loans payable		33,262		-		-		32,916		32,916

	March 31, 2023
	Carrying								Total Fair
	value		Level 1		Level 2		Level 3		value
Financial assets
Finance receivables
Retail loan	$	78,445	$	-	$	-	$	77,649	$	77,649
Wholesale		3,972		-		-		3,968		3,968
Real estate		4,981		-		-		4,990		4,990
Working capital		3,113		-		-		3,058		3,058
Financial liabilities
Unsecured notes and loans payable	$	78,949	$	-	$	76,401	$	-	$	76,401
Secured notes and loans payable		32,736		-		-		32,173		32,173