Income Taxes	6 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Note 10 – Income Taxes Our effective tax rate was 26 percent and 24 percent for the three and six months ended September 30, 2019, compared to 31 percent and 28 percent for the same periods in fiscal 2019. Our provision for income taxes was $158 million and $262 million for the three and six months ended September 30, 2019, compared to $87 million and $109 million for the same periods in fiscal 2019. The increase in the provision for income taxes for the three and six months ended September 30, 2019 was primarily due to the increase in our income before taxes compared to the same periods in fiscal 2019. The decrease in the effective tax rate for the three and six months ended September 30, 2019 compared to the same periods in fiscal 2019, was primarily due to state tax law changes taking effect in this fiscal year. Tax-related Contingencies As of September 30, 2019, we remain under IRS examination for fiscal 2020, 2019 and 2018. We periodically review our uncertain tax positions. Our assessment is based on many factors including any ongoing IRS audits. For the three months ended September 30, 2019, our assessment did not result in a material change in unrecognized tax benefits. Our deferred tax assets were $1.4 billion and $2.9 billion at September 30, 2019 and March 31, 2019, respectively, and were primarily due to the deferred deduction of allowance for credit losses and residual value losses and federal tax loss carryforward which has no expiration. The total deferred tax liability, net of these deferred tax assets, was $5.6 billion and $5.5 billion at September 30, 2019 and March 31, 2019, respectively. Realization with respect to the federal tax loss carryforward is dependent on generating sufficient income. 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.

Income Taxes

6 Months Ended

Sep. 30, 2019

Note 10 – Income Taxes

Our effective tax rate was 26 percent and 24 percent for the three and six months ended September 30, 2019, compared to 31 percent and 28 percent for the same periods in fiscal 2019. Our provision for income taxes was $158 million and $262 million for the three and six months ended September 30, 2019, compared to $87 million and $109 million for the same periods in fiscal 2019. The increase in the provision for income taxes for the three and six months ended September 30, 2019 was primarily due to the increase in our income before taxes compared to the same periods in fiscal 2019. The decrease in the effective tax rate for the three and six months ended September 30, 2019 compared to the same periods in fiscal 2019, was primarily due to state tax law changes taking effect in this fiscal year.

Tax-related Contingencies

As of September 30, 2019, we remain under IRS examination for fiscal 2020, 2019 and 2018.

We periodically review our uncertain tax positions. Our assessment is based on many factors including any ongoing IRS audits. For the three months ended September 30, 2019, our assessment did not result in a material change in unrecognized tax benefits.

Our deferred tax assets were $1.4 billion and $2.9 billion at September 30, 2019 and March 31, 2019, respectively, and were primarily due to the deferred deduction of allowance for credit losses and residual value losses and federal tax loss carryforward which has no expiration. The total deferred tax liability, net of these deferred tax assets, was $5.6 billion and $5.5 billion at September 30, 2019 and March 31, 2019, respectively. Realization with respect to the federal tax loss carryforward is dependent on generating sufficient income. 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.