Segment and Geographic Information (Tables)

3 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Financial Information by Segment

Financial information for the three months ended June 30, 2025 and 2024 is summarized in the following tables:


						United States						Canada												Total

						(U.S. dollars in millions)
Three months ended June 30, 2025
Revenues:
Retail						$	684					$	78											$	762
Dealer						64						5												69
Operating leases						1,562						205												1,767
Total revenues						2,310						288												2,598
Leased vehicle expenses						1,033						147												1,180
Interest expense						622						54												676
Realized (gains)/losses on derivatives and foreign currency denominated debt						65						6												71
Net revenues						590						81												671
Other income, net						38						5												43
Total net revenues						628						86												714
Expenses:
General and administrative expenses						122						14												136
Provision for credit losses						98						5												103
Early termination loss on operating leases						46						1												47
Income before income taxes and valuation adjustments						$	362					$	66											$	428
Reconciliation to consolidated income before income taxes:
Gain/(loss) on derivative instruments																								744
Gain/(loss) on foreign currency revaluation of debt																								(731)
Less: Realized (gains)/losses included in segment profit																								71
Consolidated income before income taxes																								$	512
Income tax expense						$	116					$	21											$	137

























June 30, 2025
Finance receivables, net						$	48,707					$	5,567											$	54,274
Investment in operating leases, net						28,256						3,536												31,792
Total assets						81,648						9,445												91,093


						United States						Canada												Total

						(U.S. dollars in millions)
Three months ended June 30, 2024
Revenues:
Retail						$	567					$	63											$	630
Dealer						65						7												72
Operating leases						1,329						212												1,541
Total revenues						1,961						282												2,243
Leased vehicle expenses						897						160												1,057
Interest expense						492						62												554
Realized (gains)/losses on derivatives and foreign currency denominated debt						26						(9)												17
Net revenues						546						69												615
Other income, net						36						4												40
Total net revenues						582						73												655
Expenses:
General and administrative expenses						118						14												132
Provision for credit losses						67						4												71
Early termination loss on operating leases						18						—												18
Income before income taxes and valuation adjustments						$	379					$	55											$	434
Reconciliation to consolidated income before income taxes:
Gain/(loss) on derivative instruments																								(88)
Gain/(loss) on foreign currency revaluation of debt																								24
Less: Realized (gains)/losses included in segment profit																								17
Consolidated income before income taxes																								387
Income tax expense						$	107					$	13											$	120

























June 30, 2024
Finance receivables, net						$	44,278					$	4,900											$	49,178
Investment in operating leases, net						24,171						3,496												27,667
Total assets						71,790						8,696												80,486