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Related Party Transactions
 6 Months Ended
Sep. 30, 2015
Related Party Transactions [Abstract]  
Related Party Transactions

Note 14 – Related Party Transactions

As of September 30, 2015, there were no material changes to our related party agreements or relationships as described in our fiscal 2015 Form 10-K.  The tables below summarize amounts included in our Consolidated Statement of Income and in our Consolidated Balance Sheet under various related party agreements or relationships:

 

 

 

Three Months Ended

Six Months Ended

 

 

 

September 30,

September 30,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

Net financing revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Manufacturers’ subvention support and other revenues

 

$

330

 

 

$

296

 

 

$

647

 

 

$

569

 

Origination costs paid to affiliates

 

$

(1

)

 

$

-

 

 

$

(1

)

 

$

-

 

Credit support fees incurred

 

$

(23

)

 

$

(22

)

 

$

(45

)

 

$

(43

)

Interest and other expenses paid to affiliates

 

$

-

 

 

$

-

 

 

$

(2

)

 

$

(1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance earned premiums and contract revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate insurance premiums and contract revenues

 

$

33

 

 

$

33

 

 

$

65

 

 

$

65

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments and other income, net:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest earned on notes receivable from affiliates

 

$

2

 

 

$

1

 

 

$

3

 

 

$

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shared services charges and other expenses

 

$

13

 

 

$

16

 

 

$

27

 

 

$

32

 

Employee benefits expense

 

$

8

 

 

$

7

 

 

$

16

 

 

$

13

 

Note 14 – Related Party Transactions (Continued)

 

 

 

 

September 30, 2015

 

 

March 31, 2015

 

Assets:

 

 

 

 

 

 

 

 

Investments in marketable securities

 

 

 

 

 

 

 

 

Investments in affiliates’ commercial paper

 

$

20

 

 

$

37

 

 

 

 

 

 

 

 

 

 

Finance receivables, net

 

 

 

 

 

 

 

 

Accounts receivable from affiliates

 

$

102

 

 

$

83

 

Direct finance lease receivables from affiliates

 

$

-

 

 

$

6

 

Notes receivable under home loan programs

 

$

10

 

 

$

11

 

Deferred retail origination costs paid to affiliates

 

$

1

 

 

$

1

 

Deferred retail subvention income from affiliates

 

$

(837

)

 

$

(802

)

 

 

 

 

 

 

 

 

 

Investments in operating leases, net

 

 

 

 

 

 

 

 

Leases to affiliates

 

$

2

 

 

$

7

 

Deferred lease origination costs paid to affiliates

 

$

1

 

 

$

1

 

Deferred lease subvention income from affiliates

 

$

(1,058

)

 

$

(950

)

 

 

 

 

 

 

 

 

 

Other assets

 

 

 

 

 

 

 

 

Notes receivable from affiliates

 

$

1,007

 

 

$

1,184

 

Other receivables from affiliates

 

$

10

 

 

$

6

 

Subvention support receivable from affiliates

 

$

175

 

 

$

126

 

Assets held-for-sale

 

$

57

 

 

$

-

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Other liabilities

 

 

 

 

 

 

 

 

Unearned affiliate insurance premiums and contract revenues

 

$

260

 

 

$

252

 

Accounts payable to affiliates

 

$

80

 

 

$

136

 

Notes payable to affiliates

 

$

25

 

 

$

24

 

 

 

 

 

 

 

 

 

 

Shareholder’s Equity:

 

 

 

 

 

 

 

 

Stock-based compensation

 

$

2

 

 

$

2

 

 

In August 2015, certain assets and liabilities related to the commercial finance business were reclassified to held-for-sale.  

In September 2015, TMCC entered into a promissory note with Toyota Financial Services Securities USA Corporation, an affiliate, under which TMCC can borrow up to $15 million.  As of September 30, 2015, no amounts have been borrowed on this promissory note.