Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL DATA

SELECTED QUARTERLY FINANCIAL DATA (Unaudited)

Selected financial data by calendar quarter were as follows (in millions):

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
2018
Total revenue	$	3,020		$	3,099		$	3,081		$	3,182		$	12,382
Depreciation on vehicles subject to operating leases	(1,053		)	(986		)	(936		)	(998		)	(3,973		)
Interest expense	(912		)	(997		)	(989		)	(1,032		)	(3,930		)
Total financing margin and other revenue	1,055			1,116			1,156			1,152			4,479
Provision for credit losses	94			69			127			136			426
Net income	701			479			518			526			2,224
2019
Total revenue	$	3,194		$	3,188		$	3,127		$	3,114		$	12,623
Depreciation on vehicles subject to operating leases	(924		)	(894		)	(894		)	(923		)	(3,635		)
Interest expense	(1,121		)	(1,114		)	(1,081		)	(1,073		)	(4,389		)
Total financing margin and other revenue	1,149			1,180			1,152			1,118			4,599
Provision for credit losses	33			63			93			107			296
Net income	603			613			571			441			2,228