Segment Information

12 Months Ended

Mar. 31, 2012

Segment Information [Abstract]

Segment Information

Note 16 – Segment Information

Our reportable segments include finance and insurance operations. Finance operations include retail installment sales, leasing, and dealer financing provided to authorized vehicle and industrial equipment dealers and their customers in the U.S. and Puerto Rico. Insurance operations are performed by TMIS and its subsidiaries. The principal activities of TMIS include marketing, underwriting, and claims administration related tocovering certain risks of vehicle dealers and their customers in the U.S. The finance and insurance operations segment information presented below includes allocated corporate expenses for the respective segments. The accounting policies of the operating segments are the same as those described in Note 1 – Summary of Significant Accounting Policies.

Financial information for our reportable operating segments for the years ended or at March 31 is summarized as follows:

		Finance		Insurance		Intercompany
(Dollars in millions)		operations		operations		eliminations		Total
Fiscal 2012:
Total financing revenues		$	7,413	$	-	$	16	$	7,429
Insurance earned premiums and contract revenues			-		620		(16)		604
Investment and other income			44		72		(3)		113
Total gross revenues			7,457		692		(3)		8,146
Less:
	Depreciation on operating leases		3,339		-		-		3,339
	Interest expense		1,303		-		(3)		1,300
	Provision for credit losses		(98)		-		-		(98)
	Operating and administrative expenses		703		154		-		857
	Insurance losses and loss adjustment expenses		-		325		-		325
	Provision for income taxes		860		77		-		937
Net income		$	1,350	$	136	$	-	$	1,486
Total assets		$	86,049	$	3,233	$	(369)	$	88,913

Note 16 – Segment Information (Continued)
		Finance		Insurance		Intercompany
(Dollars in millions)		operations		operations		eliminations		Total
Fiscal 2011:
Total financing revenues		$	8,042	$	-	$	22	$	8,064
Insurance earned premiums and contract revenues			-		565		(22)		543
Investment and other income			46		196		(6)		236
Total gross revenues			8,088		761		(6)		8,843
Less:
	Depreciation on operating leases		3,353		-		-		3,353
	Interest expense		1,620		-		(6)		1,614
	Provision for credit losses		(433)		-		-		(433)
	Operating and administrative expenses		903		156		-		1,059
	Insurance losses and loss adjustment expenses		-		247		-		247
	Provision for income taxes		1,014		136		-		1,150
Net income		$	1,631	$	222	$	-	$	1,853
Total assets		$	89,141	$	3,094	$	(531)	$	91,704
Fiscal 2010:
Total financing revenues		$	8,145	$	-	$	18	$	8,163
Insurance earned premiums and contract revenues			-		470		(18)		452
Investment and other income			84		150		(6)		228
Total gross revenues			8,229		620		(6)		8,843
Less:
	Depreciation on operating leases		3,564		-		-		3,564
	Interest expense		2,029		-		(6)		2,023
	Provision for credit losses		604		-		-		604
	Operating and administrative expenses		630		130		-		760
	Insurance losses and loss adjustment expenses		-		213		-		213
	Provision for income taxes		516		100		-		616
Net income		$	886	$	177	$	-	$	1,063
Total assets		$	78,964	$	2,790	$	(561)	$	81,193