Selected Quarterly Financial Data

12 Months Ended

Mar. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data

Note 15 – Selected Quarterly Financial Data

	Unaudited
	First		Second		Third		Fourth
	quarter		quarter		quarter		quarter
Year ended March 31, 2020:
Financing revenues:
Operating lease	$	2,184	$	2,197	$	2,212	$	2,182
Retail		589		638		661		670
Dealer		190		183		171		152
Total financing revenues		2,963		3,018		3,044		3,004
Depreciation on operating leases		1,625		1,583		1,712		1,900
Interest expense		697		613		755		769
Net financing revenues		641		822		577		335
Insurance earned premiums and contract revenues		229		232		231		241
Investment and other income, net		118		97		57		50
Net financing revenues and other revenues		988		1,151		865		626
Expenses:
Provision for credit losses		75		61		128		326
Operating and administrative		337		358		406		460
Insurance losses and loss adjustment expenses		113		115		116		111
Total expenses		525		534		650		897
Income (loss) before income taxes		463		617		215		(271	)
Provision (benefit) for income taxes		104		158		34		(185	)
Net income (loss)	$	359	$	459	$	181	$	(86	)

Note 15 – Selected Quarterly Financial Data (Continued)

	Unaudited
	First		Second		Third		Fourth
	quarter		quarter		quarter		quarter
Year ended March 31, 2019:
Financing revenues:
Operating lease	$	2,126	$	2,167	$	2,212	$	2,189
Retail		535		547		578		575
Dealer		175		176		178		182
Total financing revenues		2,836		2,890		2,968		2,946
Depreciation on operating leases		1,766		1,662		1,717		1,764
Interest expense		682		702		699		664
Net financing revenues		388		526		552		518
Insurance earned premiums and contract revenues		224		226		226		228
Investment and other income, net		40		56		68		128
Net financing revenues and other revenues		652		808		846		874
Expenses:
Provision for credit losses		89		67		110		106
Operating and administrative		324		348		347		366
Insurance losses and loss adjustment expenses		125		112		106		103
Total expenses		538		527		563		575
Income before income taxes		114		281		283		299
Provision for income taxes		22		87		69		4
Net income	$	92	$	194	$	214	$	295