Segment Information

3 Months Ended

Dec. 31, 2013

Segment Information [Abstract]

Segment Information

Note 15 – Segment Information

Financial information for our reportable operating segments for the three and nine months ended December 31, 2013is summarized as follows (dollars in millions):

		Finance		Insurance		Intercompany
Fiscal 2014:		operations		operations		eliminations		Total
Three Months Ended December 31, 2013
Total financing revenues		$	1,869	$	-	$	7	$	1,876
Insurance earned premiums and contract revenues			-		148		(7)		141
Investment and other income, net			22		46		-		68
Total gross revenues			1,891		194		-		2,085
Less:
	Depreciation on operating leases		1,033		-		-		1,033
	Interest expense		386		-		-		386
	Provision for credit losses		63		-		-		63
	Operating and administrative expenses		190		50		-		240
	Insurance losses and loss adjustment expenses		-		57		-		57
	Provision for income taxes		82		31		-		113
Net income		$	137	$	56	$	-	$	193
Nine Months Ended December 31, 2013
Total financing revenues		$	5,495	$	-	$	21	$	5,516
Insurance earned premiums and contract revenues			-		444		(21)		423
Investment and other income, net			56		32		-		88
Total gross revenues			5,551		476		-		6,027
Less:
	Depreciation on operating leases		2,950		-		-		2,950
	Interest expense		1,236		-		-		1,236
	Provision for credit losses		102		-		-		102
	Operating and administrative expenses		553		147		-		700
	Insurance losses and loss adjustment expenses		-		196		-		196
	Provision for income taxes		267		48		-		315
Net income		$	443	$	85	$	-	$	528
Total assets at December 31, 2013		$	96,665	$	3,651	$	(665)	$	99,651

Note 15 – Segment Information (Continued)

Financial information for our reportable operating segments for the three and nine months ended December 31, 2012 is summarized as follows (dollars in millions):

		Finance1		Insurance		Intercompany
Fiscal 2013:		operations		operations		eliminations		Total
Three Months Ended December 31, 2012
Total financing revenues		$	1,815	$	-	$	6	$	1,821
Insurance earned premiums and contract revenues			-		146		(6)		140
Investment and other income, net			12		51		-		63
Total gross revenues			1,827		197		-		2,024
Less:
	Depreciation on operating leases		907		-		-		907
	Interest expense		284		-		-		284
	Provision for credit losses		88		-		-		88
	Operating and administrative expenses		182		47		-		229
	Insurance losses and loss adjustment expenses		-		77		-		77
	Provision for income taxes		126		30		-		156
Net income		$	240	$	43	$	-	$	283
Nine Months Ended December 31, 2012
Total financing revenues		$	5,422	$	-	$	18	$	5,440
Insurance earned premiums and contract revenues			-		453		(18)		435
Investment and other income, net			33		103		-		136
Total gross revenues			5,455		556		-		6,011
Less:
	Depreciation on operating leases		2,653		-		-		2,653
	Interest expense		625		-		-		625
	Provision for credit losses		107		-		-		107
	Operating and administrative expenses		542		132		-		674
	Insurance losses and loss adjustment expenses		-		231		-		231
	Provision for income taxes		560		75		-		635
Net income		$	968	$	118	$	-	$	1,086
Total assets at December 31, 2012		$	90,184	$	3,454	$	(463)	$	93,175
1 Certain prior period amounts have been reclassified to conform to the current period presentation.