Segment Information

3 Months Ended

Mar. 31, 2018

We conduct our financing operations directly and indirectly through our subsidiaries and affiliates. We offer substantially similar products and services throughout many different regions, subject to local legal restrictions and market conditions. We segment our business based on geographic regions: the Americas, Europe, and Asia Pacific. Items excluded in assessing segment performance because they are managed at the corporate level, including market valuation adjustments to derivatives and exchange-rate fluctuations on foreign currency-denominated transactions, are reflected in Unallocated Other. The following is a brief description of our segments:

• Americas Segment – United States, Canada, Mexico, Brazil, and Argentina

• Europe Segment – European region and South Africa

• Asia Pacific Segment – China and India

Key financial information for our business segments for the periods ended or at March 31 were as follows (in millions):



	Americas		Europe		Asia Pacific		Total Segments		Unallocated Other (a)			Total
First Quarter 2017
Total revenue	$	2,405	$	228	$	98	$	2,731	$	—		$	2,731
Income before income taxes	358		77		28		463		18			481
Other disclosures:
Depreciation on vehicles subject to operating leases	1,053		11		—		1,064		—			1,064
Interest expense	617		61		51		729		—			729
Provision for credit losses	144		6		2		152		—			152
Net finance receivables and net investment in operating leases	114,171		20,840		4,947		139,958		(6,955		)	133,003
Total assets	119,990		23,906		5,636		149,532		—			149,532

First Quarter 2018
Total revenue	$	2,581	$	295	$	144	$	3,020	$	—		$	3,020
Income before income taxes	515		111		46		672		(31		)	641
Other disclosures:
Depreciation on vehicles subject to operating leases	1,023		5		—		1,028		—			1,028
Interest expense	752		72		91		915		(3		)	912
Provision for credit losses	111		5		3		119		—			119
Net finance receivables and net investment in operating leases	120,392		27,702		7,574		155,668		(8,017		)	147,651
Total assets	127,013		30,109		7,961		165,083		—			165,083

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(a)	Net finance receivables and Net investment in operating leases include unearned interest supplements and residual support, allowance for credit losses, and other (primarily accumulated supplemental depreciation).