XML 45 R33.htm IDEA: XBRL DOCUMENT v3.21.2
Fair Value Measurements (Tables)
 6 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables summarize our financial assets and financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy except for certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient and are excluded from the leveling information provided in the tables below.  Fair value amounts presented below are intended to permit reconciliation of the fair value hierarchy to the amounts presented in our Consolidated Balance Sheets.  

 

 

 

September 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Counterparty

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

netting &

 

 

Fair

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

collateral

 

 

value

 

Investments in marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale debt securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

439

 

 

$

6

 

 

$

-

 

 

$

-

 

 

$

445

 

Foreign government and agency obligations

 

 

-

 

 

 

33

 

 

 

-

 

 

 

-

 

 

 

33

 

Municipal debt securities

 

 

-

 

 

 

11

 

 

 

-

 

 

 

-

 

 

 

11

 

Commercial paper

 

 

-

 

 

 

8

 

 

 

-

 

 

 

-

 

 

 

8

 

Corporate debt securities

 

 

-

 

 

 

656

 

 

 

-

 

 

 

-

 

 

 

656

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency

 

 

-

 

 

 

25

 

 

 

-

 

 

 

-

 

 

 

25

 

Non-agency residential

 

 

-

 

 

 

9

 

 

 

3

 

 

 

-

 

 

 

12

 

Non-agency commercial

 

 

-

 

 

 

69

 

 

 

4

 

 

 

-

 

 

 

73

 

Asset-backed securities

 

 

-

 

 

 

80

 

 

 

11

 

 

 

-

 

 

 

91

 

Available-for-sale debt securities total

 

 

439

 

 

 

897

 

 

 

18

 

 

 

-

 

 

 

1,354

 

Equity investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income mutual funds measured at

   net asset value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,132

 

Total return bond funds

 

 

1,416

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,416

 

Equity mutual funds

 

 

933

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

933

 

Equity investments total

 

 

2,349

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

3,481

 

Investments in marketable securities total

 

 

2,788

 

 

 

897

 

 

 

18

 

 

 

-

 

 

 

4,835

 

Derivative assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

 

-

 

 

 

895

 

 

 

-

 

 

 

-

 

 

 

895

 

Foreign currency swaps

 

 

-

 

 

 

124

 

 

 

-

 

 

 

-

 

 

 

124

 

Counterparty netting and collateral

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(945

)

 

 

(945

)

Derivative assets total

 

 

-

 

 

 

1,019

 

 

 

-

 

 

 

(945

)

 

 

74

 

Assets at fair value

 

 

2,788

 

 

 

1,916

 

 

 

18

 

 

 

(945

)

 

 

4,909

 

Derivative liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

 

-

 

 

 

(723

)

 

 

-

 

 

 

-

 

 

 

(723

)

Foreign currency swaps

 

 

-

 

 

 

(330

)

 

 

-

 

 

 

-

 

 

 

(330

)

Counterparty netting and collateral

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,035

 

 

 

1,035

 

Liabilities at fair value

 

 

-

 

 

 

(1,053

)

 

 

-

 

 

 

1,035

 

 

 

(18

)

Net assets at fair value

 

$

2,788

 

 

$

863

 

 

$

18

 

 

$

90

 

 

$

4,891

 

 

 

 

March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Counterparty

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

netting &

 

 

Fair

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

collateral

 

 

value

 

Investments in marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale debt securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

209

 

 

$

2

 

 

$

-

 

 

$

-

 

 

$

211

 

Municipal debt securities

 

 

-

 

 

 

10

 

 

 

-

 

 

 

-

 

 

 

10

 

Commercial paper

 

 

20

 

 

 

176

 

 

 

-

 

 

 

-

 

 

 

196

 

Corporate debt securities

 

 

-

 

 

 

187

 

 

 

-

 

 

 

-

 

 

 

187

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency

 

 

-

 

 

 

32

 

 

 

-

 

 

 

-

 

 

 

32

 

Non-agency residential

 

 

-

 

 

 

-

 

 

 

1

 

 

 

-

 

 

 

1

 

Non-agency commercial

 

 

-

 

 

 

5

 

 

 

42

 

 

 

-

 

 

 

47

 

Asset-backed securities

 

 

-

 

 

 

19

 

 

 

33

 

 

 

-

 

 

 

52

 

Available-for-sale debt securities total

 

 

229

 

 

 

431

 

 

 

76

 

 

 

-

 

 

 

736

 

Equity investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed income mutual funds measured at

   net asset value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

772

 

Total return bond funds

 

 

2,429

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2,429

 

Equity mutual funds

 

 

883

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

883

 

Equity investments total

 

 

3,312

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

4,084

 

Investments in marketable securities total

 

 

3,541

 

 

 

431

 

 

 

76

 

 

 

-

 

 

 

4,820

 

Derivative assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

 

-

 

 

 

1,026

 

 

 

-

 

 

 

-

 

 

 

1,026

 

Foreign currency swaps

 

 

-

 

 

 

330

 

 

 

-

 

 

 

-

 

 

 

330

 

Counterparty netting and collateral

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1,302

)

 

 

(1,302

)

Derivative assets total

 

 

-

 

 

 

1,356

 

 

 

-

 

 

 

(1,302

)

 

 

54

 

Assets at fair value

 

 

3,541

 

 

 

1,787

 

 

 

76

 

 

 

(1,302

)

 

 

4,874

 

Derivative liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

 

-

 

 

 

(1,142

)

 

 

-

 

 

 

-

 

 

 

(1,142

)

Foreign currency swaps

 

 

-

 

 

 

(243

)

 

 

-

 

 

 

-

 

 

 

(243

)

Counterparty netting and collateral

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,384

 

 

 

1,384

 

Liabilities at fair value

 

 

-

 

 

 

(1,385

)

 

 

-

 

 

 

1,384

 

 

 

(1

)

Net assets at fair value

 

$

3,541

 

 

$

402

 

 

$

76

 

 

$

82

 

 

$

4,873

 
Financial Assets and Liabilities Not Carried at Fair Value on Recurring Basis on Consolidated Balance Sheets

The following tables provide information about assets and liabilities not carried at fair value on a recurring basis on our Consolidated Balance Sheets:

 

 

September 30, 2021

 

 

 

Carrying

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fair

 

 

 

value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

value

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance receivables

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail loan

 

$

69,833

 

 

$

-

 

 

$

-

 

 

$

73,449

 

 

$

73,449

 

Wholesale

 

 

2,911

 

 

 

-

 

 

 

-

 

 

 

2,927

 

 

 

2,927

 

Real estate

 

 

5,040

 

 

 

-

 

 

 

-

 

 

 

5,403

 

 

 

5,403

 

Working capital

 

 

1,885

 

 

 

-

 

 

 

-

 

 

 

1,870

 

 

 

1,870

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unsecured notes and loans payable

 

$

84,689

 

 

$

-

 

 

$

85,834

 

 

$

25

 

 

$

85,859

 

Secured notes and loans payable

 

 

27,020

 

 

 

-

 

 

 

-

 

 

 

27,270

 

 

 

27,270

 

 

 

 

March 31, 2021

 

 

 

Carrying

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fair

 

 

 

value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

value

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance receivables

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail loan

 

$

65,808

 

 

$

-

 

 

$

-

 

 

$

69,007

 

 

$

69,007

 

Wholesale

 

 

6,132

 

 

 

-

 

 

 

-

 

 

 

6,158

 

 

 

6,158

 

Real estate

 

 

5,142

 

 

 

-

 

 

 

-

 

 

 

5,224

 

 

 

5,224

 

Working capital

 

 

2,154

 

 

 

-

 

 

 

-

 

 

 

2,171

 

 

 

2,171

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unsecured notes and loans payable

 

$

85,513

 

 

$

-

 

 

$

86,205

 

 

$

555

 

 

$

86,760

 

Secured notes and loans payable

 

 

24,212

 

 

 

-

 

 

 

-

 

 

 

24,478

 

 

 

24,478