Finance Receivables, Net (Tables)

9 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Net Financing Receivables

Finance receivables, net consisted of the following:

	December 31,			March 31,
	2020			2020
Retail receivables 1	$	65,102		$	57,088
Dealer financing		15,212			17,873
		80,314			74,961
Deferred origination costs		1,083			890
Deferred income		(1,435	)		(1,128	)
Allowance for credit losses
Retail and securitized retail receivables		(1,052	)		(486	)
Dealer financing		(110	)		(241	)
Total allowance for credit losses		(1,162	)		(727	)
Finance receivables, net	$	78,800		$	73,996

¹ Includes securitized retail receivables of $19.6 billion and $12.7 billion as of December 31, 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 December 31, 2020:  

	Amortized Cost Basis by Origination Fiscal Year
	2021		2020		2019		2018		2017		2016 and Prior		Total
Aging of finance receivables:
Current	$	24,905	$	17,763	$	10,165	$	6,963	$	3,117	$	744	$	63,657
30-59 days past due		137		215		177		132		78		50		789
60-89 days past due		32		62		52		36		22		15		219
90 days or greater past due		12		26		19		13		8		7		85
Total	$	25,086	$	18,066	$	10,413	$	7,144	$	3,225	$	816	$	64,750

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 December 31, 2020:

	Amortized Cost Basis by Origination Fiscal Year
	2021		2020		2019		2018		2017		2016 and Prior		Revolving loans		Total
Wholesale
Performing	$	-	$	-	$	-	$	-	$	-	$	-	$	7,133	$	7,133
Credit Watch		-		-		-		-		-		-		275		275
At Risk		-		-		-		-		-		-		34		34
Default		-		-		-		-		-		-		15		15
Wholesale total	$	-	$	-	$	-	$	-	$	-	$	-	$	7,457	$	7,457
Real estate
Performing	$	1,571	$	355	$	601	$	386	$	358	$	1,652	$	-	$	4,923
Credit Watch		34		49		7		20		9		107		-		226
At Risk		14		-		-		-		5		17		-		36
Default		-		-		-		13		9		-		-		22
Real estate total	$	1,619	$	404	$	608	$	419	$	381	$	1,776	$	-	$	5,207
Working Capital
Performing	$	412	$	346	$	206	$	47	$	114	$	197	$	1,154	$	2,476
Credit Watch		6		24		14		-		-		19		1		64
At Risk		-		-		-		-		8		-		-		8
Default		-		-		-		-		-		-		-		-
Working capital total	$	418	$	370	$	220	$	47	$	122	$	216	$	1,155	$	2,548
Total	$	2,037	$	774	$	828	$	466	$	503	$	1,992	$	8,612	$	15,212

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:

	December 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	$	789	$	219	$	85	$	1,093	$	63,657	$	64,750	$	65
Wholesale		-		-		-		-		7,457		7,457		-
Real estate		-		-		-		-		5,207		5,207		-
Working capital		-		-		-		-		2,548		2,548		-
Total	$	789	$	219	$	85	$	1,093	$	78,869	$	79,962	$	65

Finance receivables excludes accrued interest of $196 million as of December 31, 2020.

	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