Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2014

Fair Value Measurements [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

As of March 31, 2014
					Fair value measurements on a recurring basis
										Counterparty
(Dollars in millions)				Level 1		Level 2		Level 3		netting & collateral		Fair value
Cash equivalents:
	Money market instruments			$	730	$	694	$	-	$	-	$	1,424
	Certificates of deposit				-		1,437		-		-		1,437
	Commercial paper				-		708		-		-		708
	Cash equivalents total				730		2,839		-		-		3,569
Restricted Cash Equivalents- money market instruments					1,077		-		-		-		1,077
Available-for-sale securities:
	Debt instruments:
		U.S. government and agency obligations			398		252		2		-		652
		Municipal debt securities			-		11		-		-		11
		Certificates of deposit			-		1,599		-		-		1,599
		Commercial paper			-		507		-		-		507
		Corporate debt securities			-		157		12		-		169
		Mortgage-backed securities:
			U.S. government agency		-		60		-		-		60
			Non-agency residential		-		-		5		-		5
			Non-agency commercial		-		-		43		-		43
		Asset-backed securities			-		-		27		-		27
	Equity instruments:
		Fixed income mutual funds:
			Short-term sector fund		-		44		-		-		44
			U.S. government sector fund		-		327		-		-		327
			Municipal sector fund		-		22		-		-		22
			Investment grade corporate sector fund		-		316		-		-		316
			High-yield sector fund		-		45		-		-		45
			Real return sector fund		-		274		-		-		274
			Mortgage sector fund		-		520		-		-		520
			Asset-backed securities sector fund		-		50		-		-		50
			Emerging market sector fund		-		66		-		-		66
			International sector fund		-		171		-		-		171
		Equity mutual fund			481		-		-		-		481
	Available-for-sale securities total				879		4,421		89		-		5,389
	Derivative assets:
		Foreign currency swaps			-		804		70		-		874
		Interest rate swaps			-		358		3		-		361
		Counterparty netting and collateral			-		-		-		(1,186)		(1,186)
	Derivative assets total				-		1,162		73		(1,186)		49
Assets at fair value					2,686		8,422		162		(1,186)		10,084
	Derivative liabilities:
		Foreign currency swaps			-		(252)		-		-		(252)
		Interest rate swaps			-		(553)		-		-		(553)
		Counterparty netting and collateral			-		-		-		799		799
Liabilities at fair value					-		(805)		-		799		(6)
Net assets at fair value				$	2,686	$	7,617	$	162	$	(387)	$	10,078

Note 2 – Fair Value Measurements (Continued)
As of March 31, 2013
				Fair value measurements on a recurring basis
										Counterparty
(Dollars in millions)				Level 1		Level 2		Level 3		netting & collateral		Fair value
Cash equivalents:
	Money market instruments			$	900	$	608	$	0	$	0	$	1,508
	Certificates of deposit				0		1,945		0		0		1,945
	Commercial paper				0		798		0		0		798
	Cash equivalents total				900		3,351		0		0		4,251
Available-for-sale securities:
	Debt instruments:
		U.S. government and agency obligations			42		62		0		0		104
		Municipal debt securities			0		16		0		0		16
		Certificates of deposit			0		2,041		0		0		2,041
		Commercial paper			0		495		0		0		495
		Foreign government debt securities			0		3		0		0		3
		Corporate debt securities			0		124		4		0		128
		Mortgage-backed securities:
			U.S. government agency		0		87		0		0		87
			Non-agency residential		0		0		5		0		5
			Non-agency commercial		0		0		51		0		51
		Asset-backed securities			0		0		13		0		13
	Equity instruments:
		Fixed income mutual funds:
			Short-term sector fund		0		43		0		0		43
			U.S. government sector fund		0		312		0		0		312
			Municipal sector fund		0		22		0		0		22
			Investment grade corporate sector fund		0		327		0		0		327
			High-yield sector fund		0		42		0		0		42
			Real return sector fund		0		293		0		0		293
			Mortgage sector fund		0		648		0		0		648
			Asset-backed securities sector fund		0		47		0		0		47
			Emerging market sector fund		0		66		0		0		66
			International sector fund		0		170		0		0		170
		Equity mutual fund			484		0		0		0		484
	Available-for-sale securities total				526		4,798		73		0		5,397
	Derivative assets:
		Foreign currency swaps			0		1,076		63		0		1,139
		Interest rate swaps			0		568		12		0		580
		Counterparty netting and collateral			0		0		0		(1,661)		(1,661)
	Derivative assets total				0		1,644		75		(1,661)		58
Assets at fair value					1,426		9,793		148		(1,661)		9,706
	Derivative liabilities:
		Foreign currency swaps			0		(123)		(8)		0		(131)
		Interest rate swaps			0		(766)		0		0		(766)
		Counterparty netting and collateral			0		0		0		892		892
	Derivative liabilities total				0		(889)		(8)		892		(5)
	Embedded derivative liabilities				0		0		(12)		0		(12)
Liabilities at fair value					0		(889)		(20)		892		(17)
Net assets at fair value				$	1,426	$	8,904	$	128	$	(769)	$	9,689

Assets and Liabilities Measured on Recurring Basis Using Significant Unobservable Inputs

Year Ended March 31, 2014
			Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
			Available-for-sale securities										Derivatives								Total net assets (liabilities)
			U.S.								Total								Total
			government		Corporate		Mortgage		Asset-		available-		Interest		Foreign		Embedded		derivative
			and agency		debt		backed		backed		for-sale		rate		currency		derivatives,		assets
(Dollars in millions)			obligations		securities		securities		securities		securities		swaps		swaps		net		(liabilities)
Fair value, April 1, 2013			$	-	$	4	$	56	$	13	$	73	$	12	$	55	$	(12)	$	55	$	128
Total gains (losses)
		Included in earnings		-		-		-		-		-		5		17		12		34		34
		Included in other
		comprehensive income		-		-		(2)		-		(2)		-		-		-		-		(2)
Purchases, issuances, sales, and
	settlements
		Purchases		-		3		7		16		26		-		-		-		-		26
		Issuances		-		-		-		-		-		-		-		-		-		-
		Sales		-		-		(8)		-		(8)		-		-		-		-		(8)
		Settlements		-		-		(5)		(2)		(7)		(14)		(2)		-		(16)		(23)
Transfers in to Level 3				2		7		-		-		9		-		-		-		-		9
Transfers out of Level 3				-		(2)		-		-		(2)		-		-		-		-		(2)
Fair value, March 31, 2014			$	2	$	12	$	48	$	27	$	89	$	3	$	70	$	-	$	73	$	162
The amount of total (losses)/gains
for the period included
in earnings attributable to the
change in unrealized gains or
losses related to assets still held
at the reporting date													$	(2)	$	23	$	-	$	21	$	21

Note 2 – Fair Value Measurements (Continued)
Year Ended March 31, 2013
			Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
			Available-for-sale securities								Derivatives								Total net assets (liabilities)
									Total								Total
			Corporate		Mortgage			Asset-	available-		Interest			Foreign	Embedded		derivative
			debt		backed			backed	for-sale		rate			currency	derivatives,		assets
(Dollars in millions)			securities		securities			securities	securities		swaps			swaps	net		(liabilities)
Fair value, April 1, 2012			$	1	$	19	$	1	$	21	$	13	$	69	$	(24)	$	58	$	79
Total gains
		Included in earnings		-		-		-		-		2		11		12		25		25
		Included in other
		comprehensive income		-		-		-		-		-		-		-		-		-
Purchases, issuances, sales, and
	settlements
		Purchases		-		37		7		44		-		-		-		-		44
		Issuances		-		-		-		-		-		-		-		-		-
		Sales		-		(6)		(1)		(7)		-		-		-		-		(7)
		Settlements		-		(7)		(5)		(12)		(3)		(25)		-		(28)		(40)
Transfers in to Level 3				3		13		11		27		-		-		-		-		27
Transfers out of Level 3				-		-		-		-		-		-		-		-		-
Fair value, March 31, 2013			$	4	$	56	$	13	$	73	$	12	$	55	$	(12)	$	55	$	128
The amount of total gains
for the period included
in earnings attributable to the
change in unrealized gains or
losses related to assets still held
at the reporting date											$	2	$	8	$	1	$	11	$	11

Carrying Value of Certain Financial Instruments

					Fair value measurement hierarchy
			Carrying								Total Fair
(Dollars in millions)			value		Level 1		Level 2		Level 3		Value
As of March 31, 2014
Financial assets
	Finance receivables, net
		Retail loan	$	48,892	$	-	$	-	$	49,392	$	49,392
		Commercial		174		-		-		160		160
		Wholesale		9,344		-		-		9,391		9,391
		Real estate		4,601		-		-		4,552		4,552
		Working capital		1,802		-		-		1,807		1,807
Financial liabilities
	Commercial paper		$	27,709	$	-	$	27,709	$	-	$	27,709
	Unsecured notes and loans payable			49,500		-		49,697		736		50,433
	Secured notes and loans payable			8,158		-		-		8,165		8,165

Note 2 - Fair Value Measurements (Continued)
					Fair value measurement hierarchy
			Carrying								Total Fair
(Dollars in millions)			value		Level 1		Level 2		Level 3		Value
As of March 31, 2013
Financial assets
	Finance receivables, net
		Retail loan	$	47,312	$	-	$	-	$	48,313	$	48,313
		Commercial		134		-		-		126		126
		Wholesale		8,620		-		-		8,644		8,644
		Real estate		4,531		-		-		4,480		4,480
		Working capital		1,695		-		-		1,708		1,708
Financial liabilities
	Commercial paper		$	24,590	$	-	$	24,590	$	-	$	24,590
	Unsecured notes and loans payable			47,233		-		47,901		874		48,775
	Secured notes and loans payable			7,009		-		-		7,016		7,016