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Segment Information
3 Months Ended
Sep. 30, 2014
Segment Information [Abstract]  
Segment Information

Note 15 – Segment Information

Financial information for our reportable operating segments for the three and six months ended September 30, 2014 is summarized as follows (dollars in millions):

  Finance Insurance Intercompany    
Fiscal 2015:operationsoperations eliminations Total
Three Months Ended September 30, 2014           
             
Total financing revenues$ 2,057 $ - $ - $ 2,057
Insurance earned premiums and contract revenues  -   160   -   160
Investment and other income, net  27   33   -   60
Total gross revenues  2,084   193   -   2,277
             
Less:           
 Depreciation on operating leases  1,196   -   -   1,196
 Interest expense  215   -   -   215
 Provision for credit losses  79   -   -   79
 Operating and administrative expenses  200   53   -   253
 Insurance losses and loss adjustment expenses  -   67   -   67
 Provision for income taxes  149   27   -   176
Net income$ 245 $ 46 $ - $ 291
             
Six Months Ended September 30, 2014           
             
Total financing revenues$ 4,017 $ - $ - $ 4,017
Insurance earned premiums and contract revenues  -   313   -   313
Investment and other income, net  47   48   -   95
Total gross revenues  4,064   361   -   4,425
             
Less:           
 Depreciation on operating leases  2,296   -   -   2,296
 Interest expense  345   -   -   345
 Provision for credit losses  117   -   -   117
 Operating and administrative expenses  380   106   -   486
 Insurance losses and loss adjustment expenses  -   137   -   137
 Provision for income taxes  345   44   -   389
Net income$ 581 $ 74 $ - $ 655
             
Total assets at September 30, 2014$ 103,307 $ 3,602 $ (894) $ 106,015

Note 15 – Segment Information (Continued)

Financial information for our reportable operating segments for the three and six months ended September 30, 2013 is summarized as follows (dollars in millions):

  Finance Insurance Intercompany    
Fiscal 2014:operations operations eliminations Total
Three Months Ended September 30, 2013           
             
Total financing revenues$ 1,838 $ - $ 7 $ 1,845
Insurance earned premiums and contract revenues  -   150   (7)   143
Investment and other income, net  22   (8)   -   14
Total gross revenues  1,860   142   -   2,002
             
Less:           
 Depreciation on operating leases  966   -   -   966
 Interest expense  314   -   -   314
 Provision for credit losses  28   -   -   28
 Operating and administrative expenses  183   50   -   233
 Insurance losses and loss adjustment expenses  -   68   -   68
 Provision for income taxes  140   9   -   149
Net income$ 229 $ 15 $ - $ 244
             
Six Months Ended September 30, 2013           
             
Total financing revenues$ 3,626 $ - $ 14 $ 3,640
Insurance earned premiums and contract revenues  -   296   (14)   282
Investment and other income, net  34   (14)   -   20
Total gross revenues  3,660   282   -   3,942
             
Less:           
 Depreciation on operating leases  1,917   -   -   1,917
 Interest expense  850   -   -   850
 Provision for credit losses  39   -   -   39
 Operating and administrative expenses  363   97   -   460
 Insurance losses and loss adjustment expenses  -   139   -   139
 Provision for income taxes  185   17   -   202
Net income$ 306 $ 29 $ - $ 335
             
Total assets at September 30, 2013$ 95,139 $ 3,613 $ (669) $ 98,083