Finance Receivables, Net (Tables)

6 Months Ended

Sep. 30, 2020

Finance receivables, net consisted of the following:

	September 30,			March 31,
	2020			2020
Retail receivables ¹	$	62,527		$	57,088
Dealer financing		13,304			17,873
		75,831			74,961

Deferred origination costs		1,007			890
Deferred income		(1,431	)		(1,128	)
Allowance for credit losses
Retail and securitized retail receivables		(1,020	)		(486	)
Dealer financing		(117	)		(241	)
Total allowance for credit losses		(1,137	)		(727	)
Finance receivables, net	$	74,270		$	73,996

¹ Includes securitized retail receivables of $18.1 billion and $12.7 billion as of September 30, 2020 and March 31, 2020, respectively.

Schedule of Amortized Cost Basis of Retail Loan Portfolio and Dealer Products Portfolio by Credit Quality Indicator

The following table presents the amortized cost basis of our retail loan portfolio by credit quality indicator based on number of days outstanding by origination year at September 30, 2020:

	Amortized Cost Basis by Origination Fiscal Year
	2021		2020		2019		2018		2017		2016 and Prior		Total
Aging of finance receivables:
Current	$	16,880	$	19,657	$	11,527	$	8,083	$	3,897	$	1,119	$	61,163
30-59 days past due		56		187		166		125		74		53		661
60-89 days past due		11		58		49		38		23		17		196
90 days or greater past due		2		29		25		18		9		-		83
Total	$	16,949	$	19,931	$	11,767	$	8,264	$	4,003	$	1,189	$	62,103

The following table presents the amortized cost basis of our dealer products portfolio by credit quality indicator based on internal risk assessments by origination year at September 30, 2020:

	Amortized Cost Basis by Origination Fiscal Year
	2021		2020		2019		2018		2017		2016 and Prior		Revolving loans		Total
Wholesale
Performing	$	-	$	-	$	-	$	-	$	-	$	-	$	5,603	$	5,603
Credit Watch		-		-		-		-		-		-		364		364
At Risk		-		-		-		-		-		-		37		37
Default		-		-		-		-		-		-		14		14
Wholesale total	$	-	$	-	$	-	$	-	$	-	$	-	$	6,018	$	6,018
Real estate
Performing	$	1,099	$	366	$	483	$	451	$	353	$	1,784	$	32	$	4,568
Credit Watch		18		50		15		25		33		144		-		285
At Risk		23		-		-		-		5		24		-		52
Default		-		-		-		14		9		-		-		23
Real estate total	$	1,140	$	416	$	498	$	490	$	400	$	1,952	$	32	$	4,928
Working Capital
Performing	$	289	$	322	$	210	$	49	$	122	$	214	$	1,028	$	2,234
Credit Watch		7		49		14		-		1		36		6		113
At Risk		-		-		2		-		8		-		1		11
Default		-		-		-		-		-		-		-		-
Working capital total	$	296	$	371	$	226	$	49	$	131	$	250	$	1,035	$	2,358
Total	$	1,436	$	787	$	724	$	539	$	531	$	2,202	$	7,085	$	13,304

Schedule of Retail Loan Portfolio and Dealer Products Portfolio by Credit Quality Indicator

The following table presents our retail loan portfolio by credit quality indicator at March 31, 2020:

	Retail loan
	March 31, 2020
Aging of finance receivables:
Current	$	56,064
30-59 days past due		717
60-89 days past due		203
90 days or greater past due		104
Total	$	57,088

The following table presents our dealer products portfolio by credit quality indicator at March 31, 2020:

	March 31, 2020
	Wholesale		Real estate		Working capital
Credit quality indicators:
Performing	$	8,750	$	3,974	$	3,132
Credit Watch		962		576		195
At Risk		92		55		92
Default		22		23		-
Total	$	9,826	$	4,628	$	3,419

Aging of Amortized Cost Basis of Finance Receivables by Class

The following tables summarize the aging of the amortized cost basis of our finance receivables by class:

	September 30, 2020
	30 - 59 Days past due		60 - 89 Days past due		90 Days or greater past due		Total Past due		Current		Total Finance receivables		90 Days or greater past due and accruing
Retail loan	$	661	$	196	$	83	$	940	$	61,163	$	62,103	$	50
Wholesale		-		-		-		-		6,018		6,018		-
Real estate		-		-		-		-		4,928		4,928		-
Working capital		-		-		-		-		2,358		2,358		-
Total	$	661	$	196	$	83	$	940	$	74,467	$	75,407	$	50

Finance receivables excludes accrued interest of $202 million as of September 30, 2020.

For any customer who is granted a payment extension under an extension program, including the COVID-19 related relief program, the aging of the receivable is adjusted for the number of days of the extension granted, resulting in a favorable delinquency status.

	March 31, 2020
	30 - 59 Days past due		60 - 89 Days past due		90 Days or greater past due		Total Past due		Current		Total Finance receivables		90 Days or greater past due and accruing
Retail loan	$	717	$	203	$	104	$	1,024	$	56,064	$	57,088	$	66
Wholesale		-		-		-		-		9,826		9,826		-
Real estate		-		-		1		1		4,627		4,628		-
Working capital		-		-		-		-		3,419		3,419		-
Total	$	717	$	203	$	105	$	1,025	$	73,936	$	74,961	$	66