Selected Quarterly Financial Data

12 Months Ended

Mar. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data

Note 15 – Selected Quarterly Financial Data

	Unaudited
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter
Year ended March 31, 2019:
Financing revenues:
Operating lease	$	2,126	$	2,167	$	2,212	$	2,189
Retail		535		547		578		575
Dealer		175		176		178		182
Total financing revenues		2,836		2,890		2,968		2,946
Depreciation on operating leases		1,766		1,662		1,717		1,764
Interest expense		682		702		699		664
Net financing revenues		388		526		552		518
Insurance earned premiums and contract revenues		224		226		226		228
Investment and other income, net		40		56		68		128
Net financing revenues and other revenues		652		808		846		874
Expenses:
Provision for credit losses		89		67		110		106
Operating and administrative		324		348		347		366
Insurance losses and loss adjustment expenses		125		112		106		103
Total expenses		538		527		563		575
Income before income taxes		114		281		283		299
Provision for income taxes		22		87		69		4
Net income	$	92	$	194	$	214	$	295

Note 15 – Selected Quarterly Financial Data (Continued)

	Unaudited
	First		Second		Third			Fourth
	Quarter		Quarter		Quarter			Quarter
Year ended March 31, 2018:
Financing revenues:
Operating lease	$	1,981	$	2,016	$	2,068		$	2,102
Retail		474		490		498			512
Dealer		143		141		140			152
Total financing revenues		2,598		2,647		2,706			2,766
Depreciation on operating leases		1,681		1,719		1,778			1,863
Interest expense		448		452		428			523
Net financing revenues		469		476		500			380
Insurance earned premiums and contract revenues		216		221		220			225
Investment and other income, net		88		56		66			47
Net financing revenues and other revenues		773		753		786			652
Expenses:
Provision for credit losses		85		127		108			81
Operating and administrative		313		337		323			384
Insurance losses and loss adjustment expenses		114		102		100			109
Total expenses		512		566		531			574
Income before income taxes		261		187		255			78
Provision (benefit) for income taxes		96		70		(2,821	)		26
Net income	$	165	$	117	$	3,076		$	52