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Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2019
Financing revenues:                      
Operating lease $ 2,116 $ 2,122 $ 2,114 $ 2,129 $ 2,182 $ 2,212 $ 2,197 $ 2,184 $ 8,481 $ 8,775 $ 8,694
Retail 761 749 723 672 670 661 638 589 2,905 2,558 2,235
Dealer 101 103 98 111 152 171 183 190 413 696 711
Total financing revenues 2,978 2,974 2,935 2,912 3,004 3,044 3,018 2,963 11,799 12,029 11,640
Depreciation on operating leases 1,448 1,450 1,349 1,685 1,900 1,712 1,583 1,625 5,932 6,820 6,909
Interest expense 768 491 495 548 769 755 613 697 2,302 2,834 2,747
Net financing revenues 762 1,033 1,091 679 335 577 822 641 3,565 2,375 1,984
Voluntary protection contract revenues and insurance earned premiums 242 241 238 235 241 231 232 229 956 933 904
Investment and other income, net (35) 179 90 176 50 57 97 118 410 322 292
Net financing revenues and other revenues 969 1,453 1,419 1,090 626 865 1,151 988 4,931 3,630 3,180
Expenses:                      
Provision for credit losses 60 118 65 183 326 128 61 75 426 590 372
Operating and administrative 399 354 389 345 460 406 358 337 1,487 1,561 1,385
Voluntary protection contract expenses and insurance losses 104 98 92 75 111 116 115 113 369 455 446
Total expenses 563 570 546 603 897 650 534 525 2,282 2,606 2,203
Income before income taxes 406 883 873 487 (271) 215 617 463 2,649 1,024 977
Provision for income taxes 86 215 218 113 (185) 34 158 104 632 111 182
Net income $ 320 $ 668 $ 655 $ 374 $ (86) $ 181 $ 459 $ 359 $ 2,017 $ 913 $ 795