Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2025

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, 2025
								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	$	801	$	2		$	-	$	-		$	803
Foreign government and agency obligations		-		22			-		-			22
Municipal debt securities		-		7			-		-			7
Corporate debt securities		-		449			-		-			449
Mortgage-backed securities:
U.S. government agency		-		135			3		-			138
Non-agency residential		-		12			2		-			14
Non-agency commercial		-		41			4		-			45
Asset-backed securities		-		86			75		-			161
Available-for-sale debt securities total		801		754			84		-			1,639
Equity investments:
Fixed income mutual funds:
Fixed income mutual funds measured at    net asset value 1												1,082
Total return bond funds		784		-			-		-			784
Equity mutual funds		1,276		-			-		-			1,276
Equity investments total		2,060		-			-		-			3,142
Investments in marketable securities total		2,861		754			84		-			4,781
Derivative assets:
Interest rate swaps		-		294			-		-			294
Foreign currency swaps		-		550			-		-			550
Counterparty netting and collateral		-		-			-		(769	)		(769	)
Derivative assets total		-		844			-		(769	)		75
Assets at fair value		2,861		1,598			84		(769	)		4,856
Derivative liabilities:
Interest rate swaps		-		(30	)		-		-			(30	)
Foreign currency swaps		-		(365	)		-		-			(365	)
Counterparty netting and collateral		-		-			-		388			388
Liabilities at fair value		-		(395	)		-		388			(7	)
Net assets at fair value	$	2,861	$	1,203		$	84	$	(381	)	$	4,849

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

	March 31, 2025
								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	$	724	$	19		$	-	$	-		$	743
Foreign government and agency obligations		-		20			-		-			20
Municipal debt securities		-		8			-		-			8
Commercial paper		-		15			-		-			15
Corporate debt securities		-		450			-		-			450
Mortgage-backed securities:
U.S. government agency		-		141			-		-			141
Non-agency residential		-		9			2		-			11
Non-agency commercial		-		44			1		-			45
Asset-backed securities		-		65			69		-			134
Available-for-sale debt securities total		724		771			72		-			1,567
Equity investments:
Fixed income mutual funds:
Fixed income mutual funds measured at    net asset value 1												1,096
Total return bond funds		771		-			-		-			771
Equity mutual funds		1,147		-			-		-			1,147
Equity investments total		1,918		-			-		-			3,014
Investments in marketable securities total		2,642		771			72		-			4,581
Derivative assets:
Interest rate swaps		-		363			-		-			363
Foreign currency swaps		-		132			-		-			132
Counterparty netting and collateral		-		-			-		(449	)		(449	)
Derivative assets total		-		495			-		(449	)		46
Assets at fair value		2,642		1,266			72		(449	)		4,627
Derivative liabilities:
Interest rate swaps		-		(31	)		-		-			(31	)
Foreign currency swaps		-		(717	)		-		-			(717	)
Counterparty netting and collateral		-		-			-		721			721
Liabilities at fair value		-		(748	)		-		721			(27	)
Net assets at fair value	$	2,642	$	518		$	72	$	272		$	4,600

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, 2025
	Carrying								Total Fair
	value		Level 1		Level 2		Level 3		value
Financial assets
Finance receivables
Retail loan	$	83,974	$	-	$	-	$	86,585	$	86,585
Wholesale		6,662		-		-		6,694		6,694
Real estate		5,131		-		-		5,194		5,194
Working capital		4,833		-		-		4,837		4,837
Financial liabilities
Unsecured notes and loans payable	$	85,245	$	-	$	84,794	$	-	$	84,794
Secured notes and loans payable		37,913		-		38,072		-		38,072

	March 31, 2025
	Carrying								Total Fair
	value		Level 1		Level 2		Level 3		value
Financial assets
Finance receivables
Retail loan	$	85,633	$	-	$	-	$	87,910	$	87,910
Wholesale		6,512		-		-		6,538		6,538
Real estate		5,160		-		-		5,215		5,215
Working capital		4,745		-		-		4,727		4,727
Financial liabilities
Unsecured notes and loans payable	$	90,028	$	-	$	89,196	$	-	$	89,196
Secured notes and loans payable		37,717		-		37,755		-		37,755