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Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Financing revenues:        
Operating lease $ 2,128 $ 2,114 $ 4,248 $ 4,243
Retail 821 723 1,612 1,395
Dealer 83 98 171 209
Total financing revenues 3,032 2,935 6,031 5,847
Depreciation on operating leases 1,499 1,349 2,940 3,034
Interest expense 423 495 709 1,043
Net financing revenues 1,110 1,091 2,382 1,770
Voluntary protection contract revenues and insurance earned premiums 254 238 503 473
Investment and other income, net 7 90 163 266
Net financing revenues and other revenues 1,371 1,419 3,048 2,509
Expenses:        
Provision for credit losses 68 65 65 248
Operating and administrative 385 389 769 734
Voluntary protection contract expenses and insurance losses 99 92 207 167
Total expenses 552 546 1,041 1,149
Income before income taxes 819 873 2,007 1,360
Provision for income taxes 197 218 464 331
Net income $ 622 $ 655 $ 1,543 $ 1,029