Segment Information

12 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segment Information

Note 16 – Segment Information

Our reportable segments include finance and insurance operations.  Finance operations include retail, leasing, and dealer financing provided to authorized vehicle and industrial equipment dealers and their customers in the U.S. and Puerto Rico.  Insurance operations are performed by TMIS and its subsidiaries.  The principal activities of TMIS include marketing, underwriting, and claims administration related to covering certain risks of vehicle dealers and their customers in the U.S.  The finance and insurance operations segment information presented below includes allocated corporate expenses for the respective segments.  The accounting policies of the operating segments are the same as those described in Note 1 – Summary of Significant Accounting Policies.

Financial information for our reportable operating segments for the years ended March 31 is summarized as follows:

	Finance		Insurance		Intercompany
(Dollars in millions)	operations		operations		eliminations			Total
Fiscal 2015:
Total financing revenues	$	8,310	$	-	$	-		$	8,310
Insurance earned premiums and contract revenues		-		638		-			638
Investment and other income, net		89		105		-			194
Total gross revenue		8,399		743		-			9,142
Less:
Depreciation on operating leases		4,857		-		-			4,857
Interest expense		736		-		-			736
Provision for credit losses		308		-		-			308
Operating and administrative expenses		825		221		-			1,046
Insurance losses and loss adjustment expenses		-		269		-			269
Provision for income taxes		635		94		-			729
Net income	$	1,038	$	159	$	-		$	1,197
Total assets	$	106,653	$	3,891	$	(919	)	$	109,625

Note 16 – Segment Information (Continued)

	Finance		Insurance		Intercompany
(Dollars in millions)	operations		operations		eliminations			Total
Fiscal 2014:
Total financing revenues	$	7,371	$	-	$	26		$	7,397
Insurance earned premiums and contract revenues		-		593		(26	)		567
Investment and other income, net		98		37		-			135
Total gross revenues		7,469		630		-			8,099
Less:
Depreciation on operating leases		4,012		-		-			4,012
Interest expense		1,340		-		-			1,340
Provision for credit losses		170		-		-			170
Operating and administrative expenses		767		198		-			965
Insurance losses and loss adjustment expenses		-		258		-			258
Provision for income taxes		437		60		-			497
Net income	$	743	$	114	$	-		$	857
Total assets	$	99,737	$	3,728	$	(725	)	$	102,740
Fiscal 2013:
Total financing revenues	$	7,219	$	-	$	25		$	7,244
Insurance earned premiums and contract revenues		-		596		(25	)		571
Investment and other income, net		57		116		-			173
Total gross revenues		7,276		712		-			7,988
Less:
Depreciation on operating leases		3,568		-		-			3,568
Interest expense		940		-		-			940
Provision for credit losses		121		-		-			121
Operating and administrative expenses		734		177		-			911
Insurance losses and loss adjustment expenses		-		293		-			293
Provision for income taxes		730		94		-			824
Net income	$	1,183	$	148	$	-		$	1,331
Total assets	$	92,504	$	3,502	$	(704	)	$	95,302