Income Tax Provision	3 Months Ended
Jun. 30, 2014
Income Tax Provision [Abstract]
Income Tax Provision	Note 13 – Income Taxes Our effective tax rate was 37 percent for the three months ended June 30, 2014 and 2013. Our provision for income taxes for the first quarter of fiscal 2015 was $213 million compared to $53 million for the same period in fiscal 2014. The increase in the provision is consistent with the increase in our income before tax for the first three months of fiscal 2015 compared to the same period in fiscal 2014. Tax-related Contingencies As of June 30, 2014, we remain under IRS examination for fiscal 2015 and 2014. The IRS examination for fiscal 2013 and 2012 were concluded in the first quarter of fiscal 2015. We periodically review our uncertain tax positions. Our assessment is based on many factors including the ongoing IRS audits. For the quarter ended June 30, 2014, our assessment did not result in a material change in unrecognized tax benefits. Our deferred tax assets were $1.1 billion and $1.3 billion at June 30, 2014 and March 31, 2014, respectively, and were primarily due to the deferred deduction of allowance for credit losses and cumulative federal tax loss carryforwards that expire in varying amounts through fiscal 2034. The total deferred tax liability at June 30, 2014, net of these deferred tax assets, was $6.9 billion compared with $6.7 billion at March 31, 2014. Realization with respect to the federal tax loss carryforwards is dependent on generating sufficient income prior to expiration of the loss carryforwards. Although realization is not assured, management believes it is more likely than not that the deferred tax assets will be realized. The amount of the deferred tax assets considered realizable could be reduced if management's estimates change. On August 1, 2014, the New Jersey Tax Court issued its opinion in a case involving TMCC which is favorable to TMCC. While it is possible that the State of New Jersey will appeal this decision, the decision may result in a release of FIN 48 liability and related accrued interest in the second quarter. We do not expect this decision to have a significant impact on the effective tax rate or on our Consolidated Statement of Income and our Consolidated Balance Sheet.

Income Tax Provision

3 Months Ended

Jun. 30, 2014

Note 13 – Income Taxes

Our effective tax rate was 37 percent for the three months ended June 30, 2014 and 2013. Our provision for income taxes for the first quarter of fiscal 2015 was $213 million compared to $53 million for the same period in fiscal 2014. The increase in the provision is consistent with the increase in our income before tax for the first three months of fiscal 2015 compared to the same period in fiscal 2014.

Tax-related Contingencies

As of June 30, 2014, we remain under IRS examination for fiscal 2015 and 2014. The IRS examination for fiscal 2013 and 2012 were concluded in the first quarter of fiscal 2015.

We periodically review our uncertain tax positions. Our assessment is based on many factors including the ongoing IRS audits. For the quarter ended June 30, 2014, our assessment did not result in a material change in unrecognized tax benefits.

Our deferred tax assets were $1.1 billion and $1.3 billion at June 30, 2014 and March 31, 2014, respectively, and were primarily due to the deferred deduction of allowance for credit losses and cumulative federal tax loss carryforwards that expire in varying amounts through fiscal 2034. The total deferred tax liability at June 30, 2014, net of these deferred tax assets, was $6.9 billion compared with $6.7 billion at March 31, 2014. Realization with respect to the federal tax loss carryforwards is dependent on generating sufficient income prior to expiration of the loss carryforwards. Although realization is not assured, management believes it is more likely than not that the deferred tax assets will be realized. The amount of the deferred tax assets considered realizable could be reduced if management's estimates change.

On August 1, 2014, the New Jersey Tax Court issued its opinion in a case involving TMCC which is favorable to TMCC. While it is possible that the State of New Jersey will appeal this decision, the decision may result in a release of FIN 48 liability and related accrued interest in the second quarter. We do not expect this decision to have a significant impact on the effective tax rate or on our Consolidated Statement of Income and our Consolidated Balance Sheet.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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