Related Party Transactions

6 Months Ended

Sep. 30, 2020

Note 11 – Related Party Transactions

As of September 30, 2020, there were no material changes to our related party agreements or relationships as described in our fiscal 2020 Form 10-K. The tables below show the financial statement line items and amounts included in our Consolidated Statements of Income and in our Consolidated Balance Sheets under various related party agreements or relationships:

	Three months ended						Six months ended
	September 30,						September 30,
	2020			2019			2020			2019
Net financing revenues:
Manufacturer's subvention and other revenues	$	502		$	508		$	1,001		$	1,020
Depreciation on operating leases	$	(26	)	$	(13	)	$	(49	)	$	(23	)

Interest expense:
Credit support fees, interest and other expenses	$	29		$	24		$	67		$	48

Insurance earned premiums and contract revenues:
Insurance premiums and contract revenues	$	43		$	45		$	87		$	90

Investment and other income, net:
Interest and other income	$	5		$	6		$	13		$	12

Expenses:
Operating and administrative expenses	$	23		$	21		$	43		$	42

Note 11 – Related Party Transactions (Continued)

	September 30,			March 31,
	2020			2020
Assets:
Cash and cash equivalents
Commercial paper	$	100		$	276

Investments in marketable securities
Commercial paper	$	362		$	601

Finance receivables, net
Accounts receivable	$	102		$	112
Deferred retail subvention income	$	(1,224	)	$	(1,065	)

Investments in operating leases, net
Investments in operating leases, net	$	(163	)	$	(100	)
Deferred lease subvention income	$	(1,688	)	$	(1,941	)

Other assets
Notes receivable	$	1,001		$	1,175
Other receivables, net	$	93		$	97

Liabilities:
Other liabilities
Unearned affiliate insurance premiums and contract revenues	$	341		$	344
Other payables, net	$	348		$	220
Notes payable	$	8		$	3,032

TMCC receives subvention payments from TMNA which results in a gross monthly subvention receivable. As of September 30, 2020 and March 31, 2020, the subvention receivable from TMNA was $227 million and $113 million, respectively. We have a master netting agreement with TMNA which allows us to net settle payments for shared services and subvention transactions. Under this agreement, as of September 30, 2020 and March 31, 2020, respectively, we had a net amount payable to TMNA which is recorded in Other payables, net in Other liabilities.