v3.25.2
Finance Receivables (Tables)
 12 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Summary of Finance Receivables
Finance receivables consisted of the following:
March 31, 2025
RetailDealerTotal
(U.S. dollars in millions)
Finance receivables$48,698 $4,344 $53,042 
Allowance for credit losses(387)(9)(396)
Deferred dealer participation and other deferred costs616 — 616 
Unearned subsidy income(746)— (746)
Finance receivables, net$48,181 $4,335 $52,516 

March 31, 2024
RetailDealerTotal
(U.S. dollars in millions)
Finance receivables$43,492 $4,060 $47,552 
Allowance for credit losses(345)(8)(353)
Deferred dealer participation and other deferred costs600 — 600 
Unearned subsidy income(551)— (551)
Finance receivables, net$43,196 $4,052 $47,248 
Summary of Activity in Allowance for Credit Losses of Finance Receivables
The following is a summary of the activity in the allowance for credit losses of finance receivables:
Year ended March 31, 2025
RetailDealerTotal
(U.S. dollars in millions)
Beginning balance$345 $8 $353 
Provision305 1 306 
Charge-offs(406)— (406)
Recoveries144 — 144 
Effect of translation adjustment(1)— (1)
Ending balance$387 $9 $396 

Year ended March 31, 2024
RetailDealerTotal
(U.S. dollars in millions)
Beginning balance$248 $5 $253 
Provision298 3 301 
Charge-offs(293)— (293)
Recoveries92 — 92 
Effect of translation adjustment— — — 
Ending balance$345 $8 $353 

Year ended March 31, 2023
RetailDealerTotal
(U.S. dollars in millions)
Beginning balance$206 $5 $211 
Provision146 — 146 
Charge-offs(193)— (193)
Recoveries90 — 90 
Effect of translation adjustment(1)— (1)
Ending balance$248 $5 $253 
Summary of Aging Analysis of Past Due Finance Receivables
The following is an aging analysis of past due finance receivables:
30 – 59 days
past due		60 – 89 days
past due		90 days
or greater
past due		Total
past due		Current or
less than 30
days past due		Total
finance
receivables
(U.S. dollars in millions)
March 31, 2025
Retail loans:
New automobile$331 $73 $20 $424 $38,105 $38,529 
Used and certified automobile155 38 10 203 8,291 8,494 
Motorcycle and other18 7 4 29 1,516 1,545 
Total retail504 118 34 656 47,912 48,568 
Dealer loans:
Wholesale flooring— — 1 1 3,005 3,006 
Commercial loans— — — — 1,338 1,338 
Total dealer loans— — 1 1 4,343 4,344 
Total finance receivables$504 $118 $35 $657 $52,255 $52,912 
March 31, 2024
Retail loans:
New automobile$253 $59 $15 $327 $33,858 $34,185 
Used and certified automobile134 33 9 176 7,815 7,991 
Motorcycle and other15 6 3 24 1,341 1,365 
Total retail402 98 27 527 43,014 43,541 
Dealer loans:
Wholesale flooring1 — — 1 2,785 2,786 
Commercial loans— — — — 1,274 1,274 
Total dealer loans1 — — 1 4,059 4,060 
Total finance receivables$403 $98 $27 $528 $47,073 $47,601 
Summary of Portfolio of Retail Loans and Dealer Loans Leases by Credit Quality Indicator
The following table summarizes the amortized cost of retail loans by internal credit grade:
Retail loans by vintage year
20252024202320222021PriorTotal
March 31, 2025(U.S. dollars in millions)
Credit grade A$14,245 $9,403 $3,620 $1,838 $1,140 $136 $30,382 
Credit grade B3,800 2,919 1,365 639 371 73 9,167 
Credit grade C2,830 2,006 869 439 259 66 6,469 
Credit grade D879 516 190 103 73 38 1,799 
Others351 221 89 54 25 11 751 
Total retail loans$22,105 $15,065 $6,133 $3,073 $1,868 $324 $48,568 
Gross charge-offs for the fiscal year ended March 31, 2025$62 $188 $88 $38 $18 $12 $406 

Retail loans by vintage year
20242023202220212020PriorTotal
March 31, 2024(U.S. dollars in millions)
Credit grade A$14,094 $5,788 $3,713 $2,907 $597 $121 $27,220 
Credit grade B4,110 2,065 1,113 778 237 66 8,369 
Credit grade C2,853 1,338 758 526 200 61 5,736 
Credit grade D779 306 182 149 97 36 1,549 
Others338 142 96 57 22 12 667 
Total retail loans$22,174 $9,639 $5,862 $4,417 $1,153 $296 $43,541 
Gross charge-offs for the fiscal year ended March 31, 2024$58 $109 $61 $34 $19 $12 $293 
The following table summarizes the amortized cost of dealer loans by risk rating groups:
Commercial loans by vintage fiscal year
20252024202320222021PriorRevolving loansWholesale FlooringTotal
March 31, 2025(U.S. dollars in millions)
Group I$149 $110 $52 $13 $86 $53 $762 $1,764 $2,989 
Group II23 56 3 — 6 25 — 1,241 1,354 
Group III— — — — — — — 1 1 
Total dealer loans$172 $166 $55 $13 $92 $78 $762 $3,006 $4,344 
Gross charge-offs for the fiscal year ended March 31, 2025$— $— $— $— $— $— $— $— $— 

Commercial loans by vintage fiscal year
20242023202220212020PriorRevolving loansWholesale FlooringTotal
March 31, 2024(U.S. dollars in millions)
Group I$146 $55 $9 $114 $45 $84 $748 $1,874 $3,075 
Group II44 3 5 1 — 20 — 911 984 
Group III— — — — — — — 1 1 
Total dealer loans$190 $58 $14 $115 $45 $104 $748 $2,786 $4,060 
Gross charge-offs for the fiscal year ended March 31, 2024$— $— $— $— $— $— $— $— $—