v3.26.1
Finance Receivables (Tables)
 3 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Summary of Finance Receivables
Finance receivables consisted of the following:
June 30, 2026
RetailDealerTotal
(U.S. dollars in millions)
Finance receivables$50,750 $4,696 $55,446 
Allowance for credit losses(441)(9)(450)
Deferred dealer participation and other deferred costs704 — 704 
Unearned subsidy income(812)— (812)
Finance receivables, net$50,201 $4,687 $54,888 
March 31, 2026
RetailDealerTotal
(U.S. dollars in millions)
Finance receivables$50,173 $4,703 $54,876 
Allowance for credit losses(427)(9)(436)
Deferred dealer participation and other deferred costs688 — 688 
Unearned subsidy income(785)— (785)
Finance receivables, net$49,649 $4,694 $54,343 
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:
Three months ended June 30, 2026
RetailDealerTotal
(U.S. dollars in millions)
Beginning balance as of April 1, 2026$427 $9 $436 
Provision86 — 86 
Charge-offs(113)— (113)
Recoveries41 — 41 
Effect of translation adjustment— — — 
Ending balance as of June 30, 2026$441 $9 $450 
Three months ended June 30, 2025
RetailDealerTotal
(U.S. dollars in millions)
Beginning balance as of April 1, 2025$387 $9 $396 
Provision103 — 103 
Charge-offs(102)— (102)
Recoveries37 — 37 
Effect of translation adjustment1 — 1 
Ending balance as of June 30, 2025$426 $9 $435 
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)
June 30, 2026
Retail loans:
New automobile$415 $112 $26 $553 $39,848 $40,401 
Used and certified automobile169 44 9 222 8,425 8,647 
Motorcycle and other23 10 5 38 1,556 1,594 
Total retail loans607 166 40 813 49,829 50,642 
Dealer loans:
Wholesale flooring— — — — 3,062 3,062 
Commercial loans— — — — 1,634 1,634 
Total dealer loans— — — — 4,696 4,696 
Total finance receivables$607 $166 $40 $813 $54,525 $55,338 
March 31, 2026
Retail loans:
New automobile$402 $89 $22 $513 $39,405 $39,918 
Used and certified automobile165 35 8 208 8,360 8,568 
Motorcycle and other23 9 5 37 1,553 1,590 
Total retail loans590 133 35 758 49,318 50,076 
Dealer loans:
Wholesale flooring— — — — 3,136 3,136 
Commercial loans— — — — 1,567 1,567 
Total dealer loans— — — — 4,703 4,703 
Total finance receivables$590 $133 $35 $758 $54,021 $54,779 
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 fiscal year
20272026202520242023PriorTotal
(U.S. dollars in millions)
June 30, 2026
Credit grade A$4,372 $12,010 $8,420 $4,810 $1,609 $613 $31,834 
Credit grade B1,080 3,368 2,418 1,636 686 290 9,478 
Credit grade C796 2,454 1,742 1,099 438 212 6,741 
Credit grade D249 702 513 266 92 56 1,878 
Others76 245 201 118 43 28 711 
Total retail loans$6,573 $18,779 $13,294 $7,929 $2,868 $1,199 $50,642 
Gross charge-offs for the three months ended June 30, 2026$— $41 $39 $21 $8 $4 $113 


Retail loans by vintage fiscal year
20262025202420232022PriorTotal
(U.S. dollars in millions)
March 31, 2026
Credit grade A$13,406 $9,504 $5,625 $1,948 $659 $243 $31,385 
Credit grade B3,659 2,696 1,879 808 295 113 9,450 
Credit grade C2,664 1,954 1,255 510 208 82 6,673 
Credit grade D767 584 307 109 49 28 1,844 
Others272 229 136 51 25 11 724 
Total retail loans$20,768 $14,967 $9,202 $3,426 $1,236 $477 $50,076 
Gross charge-offs for the fiscal year ended March 31, 2026$63 $204 $141 $55 $19 $11 $493 
The following table summarizes the amortized cost of dealer loans by risk rating groups:
Commercial loans by vintage fiscal year
20272026202520242023PriorRevolving loansWholesale FlooringTotal
(U.S. dollars in millions)
June 30, 2026
Group I$39 $45 $130 $103 $49 $123 $1,045 $1,751 $3,285 
Group II1 1 13 28 2 30 25 1,311 1,411 
Group III— — — — — — — — — 
Total dealer loans$40 $46 $143 $131 $51 $153 $1,070 $3,062 $4,696 
Gross charge-offs for the three months ended June 30, 2026$— $— $— $— $— $— $— $— $— 

Commercial loans by vintage fiscal year
20262025202420232022PriorRevolving loansWholesale FlooringTotal
(U.S. dollars in millions)
March 31, 2026
Group I$50 $135 $104 $50 $8 $125 $965 $1,853 $3,290 
Group II2 13 56 2 5 26 26 1,283 1,413 
Group III— — — — — — — — — 
Total dealer loans$52 $148 $160 $52 $13 $151 $991 $3,136 $4,703 
Gross charge-offs for the fiscal year ended March 31, 2026$— $— $— $— $— $— $— $— $—