v3.26.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Carrying amounts and Estimated Fair Values of Financial Instruments and Fair Value Hierarchy Based on the Level of Inputs Utilized to Determine Such Fair Value
The following table presents the carrying amounts and estimated fair values of our financial instruments and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used:
Fair Value Measurements UsingTotal
Fair
Value		Total
Carrying
Value
(dollars in millions)Level 1Level 2Level 3
September 30, 2026
Assets
Cash and cash equivalents$835 $101 $— $936 $936 
Investment securities61 1,486 3 1,550 1,550 
Net finance receivables, less allowance for finance receivable losses
— — 25,830 25,830 23,204 
Restricted cash and restricted cash equivalents 751 — — 751 751 
Other assets *
— — 31 31 16 
Liabilities
Long-term debt $— $23,745 $— $23,745 $24,074 
December 31, 2025
Assets
Cash and cash equivalents$860 $54 $— $914 $914 
Investment securities57 1,530 3 1,590 1,590 
Net finance receivables, less allowance for finance receivable losses
— — 24,440 24,440 21,968 
Restricted cash and restricted cash equivalents 699 — — 699 699 
Other assets *
— — 31 31 18 
Liabilities
Long-term debt$— $23,204 $— $23,204 $22,694 
*Other assets at September 30, 2026 and December 31, 2025 primarily consists of finance receivables held for sale.
Schedule of Assets Measured at Fair Value on a Recurring Basis
The following tables present information about our assets measured at fair value on a recurring basis and indicate the fair value hierarchy based on the levels of inputs we utilized to determine such fair value:

Fair Value Measurements UsingTotal Carried At Fair Value
(dollars in millions)Level 1Level 2Level 3
September 30, 2026
Assets
Cash equivalents in mutual funds$54 $— $— $54 
Cash equivalents in securities— 101 — 101 
Investment securities:
Available-for-sale securities
U.S. government and government sponsored entities— 13 — 13 
Obligations of states, municipalities, and political subdivisions
— 51 — 51 
Commercial paper— 42 — 42 
Non-U.S. government and government sponsored entities— 128 — 128 
Corporate debt5 993 2 1,000 
RMBS— 180 — 180 
CMBS— 17 — 17 
CDO/ABS— 59 — 59 
Total available-for-sale securities5 1,483 2 1,490 
Other securities
Bonds:
Corporate debt— 3 — 3 
Total bonds— 3 — 3 
Preferred stock11 — — 11 
Common stock45 — 1 46 
Total other securities56 3 1 60 
Total investment securities61 1,486 3 1,550 
Restricted cash equivalents in mutual funds501 — — 501 
Total$616 $1,587 $3 $2,206 
Fair Value Measurements UsingTotal Carried At Fair Value
(dollars in millions)Level 1Level 2Level 3
December 31, 2025
Assets
Cash equivalents in mutual funds$48 $— $— $48 
Cash equivalents in securities— 53 — 53 
Investment securities:
Available-for-sale securities
U.S. government and government sponsored entities— 13 — 13 
Obligations of states, municipalities, and political subdivisions
— 56 — 56 
Commercial paper
— — — — 
Non-U.S. government and government sponsored entities— 157 — 157 
Corporate debt6 1,022 2 1,030 
RMBS— 190 — 190 
CMBS— 22 — 22 
CDO/ABS— 64 — 64 
Total available-for-sale securities6 1,524 2 1,532 
Other securities
Bonds:
Corporate debt— 3 — 3 
CDO/ABS— 3 — 3 
Total bonds— 6 — 6 
Preferred stock12 — — 12 
Common stock39 — 1 40 
Total other securities51 6 1 58 
Total investment securities57 1,530 3 1,590 
Restricted cash equivalents in mutual funds620 — — 620 
Total$725 $1,583 $3 $2,311