Segment Information

3 Months Ended

Dec. 31, 2014

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, 2014 is summarized as follows (dollars in millions):

		Finance		Insurance		Intercompany
Fiscal 2015:		operations		operations		eliminations		Total
Three Months Ended December 31, 2014
Total financing revenues		$	2,112	$	-	$	-	$	2,112
Insurance earned premiums and contract revenues			-		159		-		159
Investment and other income, net			20		42		-		62
Total gross revenues			2,132		201		-		2,333
Less:
	Depreciation on operating leases		1,248		-		-		1,248
	Interest expense		161		-		-		161
	Provision for credit losses		103		-		-		103
	Operating and administrative expenses		209		57		-		266
	Insurance losses and loss adjustment expenses		-		63		-		63
	Provision for income taxes		155		30		-		185
Net income		$	256	$	51	$	-	$	307
Nine Months Ended December 31, 2014
Total financing revenues		$	6,129	$	-	$	-	$	6,129
Insurance earned premiums and contract revenues			-		472		-		472
Investment and other income, net			67		90		-		157
Total gross revenues			6,196		562		-		6,758
Less:
	Depreciation on operating leases		3,544		-		-		3,544
	Interest expense		506		-		-		506
	Provision for credit losses		220		-		-		220
	Operating and administrative expenses		589		163		-		752
	Insurance losses and loss adjustment expenses		-		200		-		200
	Provision for income taxes		500		74		-		574
Net income		$	837	$	125	$	-	$	962
Total assets at December 31, 2014		$	104,068	$	3,683	$	(903)	$	106,848

Note 15 – Segment Information (Continued)

Financial information for our reportable operating segments for the three and nine months ended December 31, 2013 is 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