Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Mar. 31, 2014

Selected Quarterly Financial Data (Unaudited) [Abstract]

Selected Quarterly Financial Data (Unaudited)

Note 17 – Selected Quarterly Financial Data (Unaudited)
	First		Second		Third		Fourth
(Dollars in millions)	Quarter		Quarter		Quarter		Quarter
Fiscal 2014:
Total financing revenue	$	1,795	$	1,845	$	1,876	$	1,881
Depreciation on operating leases		951		966		1,033		1,062
Interest expense		536		314		386		104
Net financing revenue		308		565		457		715
Other income		145		157		209		191
Provision for credit losses		11		28		63		68
Expenses		298		301		297		327
Income before income tax expense		144		393		306		511
Provision for income taxes		53		149		113		182
Net income	$	91	$	244	$	193	$	329
Fiscal 2013:1
Total financing revenue	$	1,797	$	1,822	$	1,821	$	1,804
Depreciation on operating leases		855		891		907		915
Interest expense		58		283		284		315
Net financing revenue		884		648		630		574
Other income		185		183		203		173
Provision for credit losses		16		3		88		14
Expenses		297		302		306		299
Income before income tax expense		756		526		439		434
Provision for income taxes		279		200		156		189
Net income	$	477	$	326	$	283	$	245

1Certain prior period amounts have been reclassified to conform to the current period presentation.

Other income is comprised of insurance earned premiums and contract revenues as well as net investment and other income. Expenses include operating and administrative expenses as well as insurance losses and loss adjustment expenses.