Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2024

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.

	June 30, 2024
								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	$	712	$	4		$	-	$	-		$	716
Foreign government and agency obligations		-		15			-		-			15
Municipal debt securities		-		8			-		-			8
Corporate debt securities		-		415			-		-			415
Mortgage-backed securities:
U.S. government agency		-		114			-		-			114
Non-agency residential		-		6			4		-			10
Non-agency commercial		-		45			6		-			51
Asset-backed securities		-		66			58		-			124
Available-for-sale debt securities total		712		673			68		-			1,453
Equity investments:
Fixed income mutual funds:
Fixed income mutual funds measured at    net asset value 1												1,158
Total return bond funds		832		-			-		-			832
Equity mutual funds		1,098		-			-		-			1,098
Equity investments total		1,930		-			-		-			3,088
Investments in marketable securities total		2,642		673			68		-			4,541
Derivative assets:
Interest rate swaps		-		994			-		-			994
Foreign currency swaps		-		91			-		-			91
Counterparty netting and collateral		-		-			-		(1,044	)		(1,044	)
Derivative assets total		-		1,085			-		(1,044	)		41
Assets at fair value		2,642		1,758			68		(1,044	)		4,582
Derivative liabilities:
Interest rate swaps		-		(99	)		-		-			(99	)
Foreign currency swaps		-		(888	)		-		-			(888	)
Counterparty netting and collateral		-		-			-		968			968
Liabilities at fair value		-		(987	)		-		968			(19	)
Net assets at fair value	$	2,642	$	771		$	68	$	(76	)	$	4,563

1 Measured at net asset value and therefore excluded from leveling.

	March 31, 2024
								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	$	693	$	4		$	-	$	-		$	697
Foreign government and agency obligations		-		12			-		-			12
Municipal debt securities		-		7			-		-			7
Corporate debt securities		-		430			-		-			430
Mortgage-backed securities:
U.S. government agency		-		118			-		-			118
Non-agency residential		-		7			4		-			11
Non-agency commercial		-		46			9		-			55
Asset-backed securities		-		82			56		-			138
Available-for-sale debt securities total		693		706			69		-			1,468
Equity investments:
Fixed income mutual funds:
Fixed income mutual funds measured at    net asset value 1												1,134
Total return bond funds		830		-			-		-			830
Equity mutual funds		1,073		-			-		-			1,073
Equity investments total		1,903		-			-		-			3,037
Investments in marketable securities total		2,596		706			69		-			4,505
Derivative assets:
Interest rate swaps		-		1,149			-		-			1,149
Foreign currency swaps		-		89			-		-			89
Counterparty netting and collateral		-		-			-		(1,197	)		(1,197	)
Derivative assets total		-		1,238			-		(1,197	)		41
Assets at fair value		2,596		1,944			69		(1,197	)		4,546
Derivative liabilities:
Interest rate swaps		-		(52	)		-		-			(52	)
Foreign currency swaps		-		(918	)		-		-			(918	)
Counterparty netting and collateral		-		-			-		947			947
Liabilities at fair value		-		(970	)		-		947			(23	)
Net assets at fair value	$	2,596	$	974		$	69	$	(250	)	$	4,523

1 Measured at net asset value and therefore excluded from leveling.

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:

	June 30, 2024
	Carrying								Total Fair
	value		Level 1		Level 2		Level 3		value
Financial assets
Finance receivables
Retail loan	$	87,292	$	-	$	-	$	88,452	$	88,452
Wholesale		6,620		-		-		6,642		6,642
Real estate		5,079		-		-		5,087		5,087
Working capital		4,766		-		-		4,738		4,738
Financial liabilities
Unsecured notes and loans payable	$	89,146	$	-	$	87,140	$	-	$	87,140
Secured notes and loans payable		31,960		-		-		31,782		31,782

	March 31, 2024
	Carrying								Total Fair
	value		Level 1		Level 2		Level 3		value
Financial assets
Finance receivables
Retail loan	$	85,886	$	-	$	-	$	86,575	$	86,575
Wholesale		6,690		-		-		6,710		6,710
Real estate		4,900		-		-		4,890		4,890
Working capital		4,531		-		-		4,494		4,494
Financial liabilities
Unsecured notes and loans payable	$	88,083	$	-	$	86,133	$	-	$	86,133
Secured notes and loans payable		34,337		-		-		34,003		34,003