Toyota Motor Credit (TM/28) 10-Q5 Aug 212022 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Jul. 31, 2021
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2021
Amendment Flag	false
Entity Registrant Name	TOYOTA MOTOR CREDIT CORPORATION
Entity Central Index Key	0000834071
Current Fiscal Year End Date	--03-31
Trading Symbol	TM/28
Entity Filer Category	Non-accelerated Filer
Entity Common Stock Shares Outstanding		91,500
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-9961
Entity Tax Identification Number	95-3775816
Entity Address, Address Line One	6565 Headquarters Drive
Entity Address, City or Town	Plano
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75024
City Area Code	469
Local Phone Number	486-9300
Entity Incorporation, State or Country Code	CA
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Medium-Term Notes, Series BStated Maturity Date January 11, 2028
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020
Financing revenues:
Operating lease	$ 2,120	$ 2,129
Retail	791	672
Dealer	88	111
Total financing revenues	2,999	2,912
Depreciation on operating leases	1,441	1,685
Interest expense	286	548
Net financing revenues	1,272	679
Voluntary protection contract revenues and insurance earned premiums	249	235
Investment and other income, net	156	176
Net financing revenues and other revenues	1,677	1,090
Expenses:
Provision for credit losses	(3)	183
Operating and administrative	384	345
Voluntary protection contract expenses and insurance losses	108	75
Total expenses	489	603
Income before income taxes	1,188	487
Provision for income taxes	267	113
Net income	$ 921	$ 374

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 921	$ 374
Other comprehensive income, net of tax
Net unrealized gains on available-for-sale marketable securities [net of tax provision of ($3) and ($5), respectively]	9	23
Reclassification adjustment for net gains on available-for-sale marketable securities included in investment and other income, net [net of tax provision of $0 and $3, respectively]	0	(11)
Other comprehensive income	9	12
Comprehensive income	$ 930	$ 386

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net unrealized gains on available-for-sale marketable securities, tax provision	$ (3)	$ (5)
Reclassification adjustment for net gains on available-for-sale marketable securities included in investment and other income, tax provision	$ 0	$ 3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
ASSETS
Cash and cash equivalents	$ 7,417	$ 8,195
Restricted cash and cash equivalents	3,322	1,957
Investments in marketable securities	4,843	4,820
Finance receivables, net of allowance for credit losses of $1,147 and $1,178	78,500	79,192
Investments in operating leases, net	37,784	37,091
Other assets	2,535	2,473
Total assets	134,401	133,728
LIABILITIES AND SHAREHOLDER’S EQUITY
Debt	109,133	109,725
Deferred income taxes	2,638	2,860
Other liabilities	6,105	5,548
Total liabilities	117,876	118,133
Commitments and contingencies (Refer to Note 9)
Shareholder’s equity:
Capital stock, no par value (100,000 shares authorized; 91,500 issued and outstanding) at June 30, 2021 and March 31, 2021	915	915
Additional paid-in capital	2	2
Accumulated other comprehensive income	17	8
Retained earnings	15,591	14,670
Total shareholder's equity	16,525	15,595
Total liabilities and shareholder's equity	$ 134,401	$ 133,728

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Statement Of Financial Position [Abstract]
Finance receivables, allowance for credit losses	$ 1,147	$ 1,178
Common Stock, Par or Stated Value Per Share
Common Stock, Shares Authorized	100,000	100,000
Common Stock, Shares, Issued	91,500	91,500
Common Stock, Shares, Outstanding	91,500	91,500

Consolidated Balance Sheets (Su

Consolidated Balance Sheets (Supplemental) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
ASSETS
Finance receivables, net	$ 78,500	$ 79,192
Investments in operating leases, net	37,784	37,091
Other assets	2,535	2,473
Total assets	134,401	133,728
LIABILITIES
Debt	109,133	109,725
Other liabilities	6,105	5,548
Total liabilities	117,876	118,133
Variable Interest Entity, Primary Beneficiary
ASSETS
Finance receivables, net	21,097	21,745
Investments in operating leases, net	8,585	6,599
Other assets	58	89
Total assets	29,740	28,433
LIABILITIES
Debt	24,900	24,212
Other liabilities	8	14
Total liabilities	$ 24,908	$ 24,226

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity - USD ($) $ in Millions	Total	Cumulative Effect Period of Adoption Adjustment	Capital stock	Additional paid-in capital	Accumulated other comprehensive income	Retained earnings	Retained earningsCumulative Effect Period of Adoption Adjustment
Balance at Mar. 31, 2020	$ 14,503		$ 915	$ 2	$ 15	$ 13,571
Balance (ASU 2016-13) at Mar. 31, 2020		$ (218)					$ (218)
Net income	374		0	0	0	374
Other comprehensive income, net of tax	12		0	0	12	0
Balance at Jun. 30, 2020	14,671		915	2	27	13,727
Balance at Mar. 31, 2021	15,595		915	2	8	14,670
Net income	921		0	0	0	921
Other comprehensive income, net of tax	9		0	0	9	0
Balance at Jun. 30, 2021	$ 16,525		$ 915	$ 2	$ 17	$ 15,591

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 921	$ 374
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,471	1,710
Recognition of deferred income	(631)	(603)
Provision for credit losses	(3)	183
Amortization of deferred costs	238	175
Foreign currency and other adjustments to the carrying value of debt, net	26	541
Net gains from investments in marketable securities	(115)	(125)
Net change in:
Derivative assets	0	(18)
Other assets and accrued interest	(182)	84
Deferred income taxes	(225)	(259)
Derivative liabilities	15	(42)
Other liabilities	509	97
Net cash provided by operating activities	2,024	2,117
Cash flows from investing activities:
Purchase of investments in marketable securities	(614)	(778)
Proceeds from sales of investments in marketable securities	509	315
Proceeds from maturities of investments in marketable securities	200	277
Acquisition of finance receivables	(10,509)	(8,444)
Collection of finance receivables	8,506	6,140
Net change in wholesale and certain working capital receivables	2,775	4,423
Acquisition of investments in operating leases	(5,248)	(2,798)
Disposals of investments in operating leases	3,568	2,232
Long term loans to affiliates	(100)	0
Payments on long term loans from affiliates	100	6
Other, net	(13)	(14)
Net cash (used in) provided by investing activities	(826)	1,359
Cash flows from financing activities:
Proceeds from issuance of debt	10,242	16,968
Payments on debt	(11,074)	(6,452)
Net change in commercial paper and other short-term financing	214	(1,829)
Net change in financing support provided by affiliates	7	0
Net cash (used in) provided by financing activities	(611)	8,687
Net increase in cash and cash equivalents and restricted cash and cash equivalents	587	12,163
Cash and cash equivalents and restricted cash and cash equivalents at the beginning of the period	10,152	8,529
Cash and cash equivalents and restricted cash and cash equivalents at the end of the period	10,739	20,692
Supplemental disclosures:
Interest paid, net	485	692
Income taxes paid, net	$ 55	$ 24

Interim Financial Data

Interim Financial Data	3 Months Ended
Interim Financial Data	Jun. 30, 2021
Accounting Policies [Abstract]
Interim Financial Data	Note 1 – Interim Financial Data Basis of Presentation The information furnished in these unaudited interim consolidated financial statements as of and for the three months ended June 30, 2021 and 2020 has been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). In the opinion of management, the unaudited consolidated financial information reflects all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the interim periods presented. The results of operations for the three months ended June 30, 2021 do not necessarily indicate the results which may be expected for the full fiscal year ending March 31, 2022 (“fiscal 2022”). These financial statements should be read in conjunction with the Consolidated Financial Statements and Notes to Consolidated Financial Statements included in Toyota Motor Credit Corporation’s Annual Report on Form 10-K (“Form 10-K”) for the fiscal year ended March 31, 2021 (“fiscal 2021”), which was filed with the Securities and Exchange Commission on June 3, 2021. References herein to “TMCC” denote Toyota Motor Credit Corporation, and references herein to “we”, “our”, and “us” denote Toyota Motor Credit Corporation and its consolidated subsidiaries. Other Matters In fiscal 2021, TMCC began providing private label financial services to third-party automotive and mobility companies commencing with the provision of services to Mazda Motor of America, Inc. (“Mazda”). We are currently leveraging our existing processes and personnel to originate and service the new assets; however, we will continue to evaluate the private label financial services business, which includes partnering with or transitioning a portion of the business to our affiliates, some of which are not consolidated with TMCC. We have also made certain technology investments to support the Mazda program and future private label customers. Recently Adopted Accounting Guidance On April 1, 2021, we adopted the following new accounting standards: We adopted Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, We adopted ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs Accounting Guidance Issued But Not Yet Adopted In July 2021, the FASB issued ASU 2021-05, Lessors-Certain Leases with Variable Lease Payments (Topic 842)

Investments in Marketable Secur

Investments in Marketable Securities	3 Months Ended
Investments in Marketable Securities	Jun. 30, 2021
Marketable Securities [Abstract]
Investments in Marketable Securities	Note 2 – Investments in Marketable Securities Investments in marketable securities consist of debt securities and equity investments. We classify all of our debt securities as available-for-sale (“AFS”). Except when fair value option is elected, AFS debt securities are recorded at fair value with unrealized gains or losses included in accumulated other comprehensive income (“AOCI”), net of applicable taxes. All equity investments are recorded at fair value with changes in fair value included in Investment and other income, net in our Consolidated Statements of Income. In fiscal 2022, we have elected the fair value option for certain debt securities held within one of our affiliate investment portfolios for operational ease given the size and composition of this portfolio. All debt securities within this specific portfolio are recorded at fair value with changes in fair value included in Investment and other income, net in our Consolidated Statements of Income. We estimate the fair value of these securities using observed transaction prices, independent third-party pricing valuation vendors, and internal valuation models. AFS debt securities for which fair value option is elected are not subject to credit loss impairment. As of June 30, 2021, we held AFS debt securities for which fair value option was elected of $724 million. The difference between the aggregate fair value and the aggregate unpaid principal balance of long-term AFS debt securities for which the fair value option was elected was not significant. Investments in marketable securities consisted of the following: June 30, 2021 Amortized Unrealized Unrealized Fair cost gains losses value Available-for-sale debt securities: U.S. government and agency obligations $ 430 $ 7 $ (7 ) $ 430 Foreign government and agency obligations 31 - - 31 Municipal debt securities 9 2 - 11 Commercial paper 43 - - 43 Corporate debt securities 641 23 (1 ) 663 Mortgage-backed securities: U.S. government agency 27 1 - 28 Non-agency residential 13 - - 13 Non-agency commercial 71 3 (1 ) 73 Asset-backed securities 76 4 - 80 Total available-for-sale debt securities $ 1,341 $ 40 $ (9 ) $ 1,372 Equity investments 3,471 Total investments in marketable securities $ 4,843 March 31, 2021 Amortized Unrealized Unrealized Fair cost gains losses value Available-for-sale debt securities: U.S. government and agency obligations $ 217 $ 4 $ (10 ) $ 211 Municipal debt securities 8 2 - 10 Commercial paper 196 - - 196 Corporate debt securities 177 12 (2 ) 187 Mortgage-backed securities: U.S. government agency 31 1 - 32 Non-agency residential 1 - - 1 Non-agency commercial 47 2 (2 ) 47 Asset-backed securities 49 3 - 52 Total available-for-sale debt securities $ 726 $ 24 $ (14 ) $ 736 Equity investments 4,084 Total investments in marketable securities $ 4,820 Note 2 – Investments in Marketable Securities (Continued) A portion of our equity investments are investments in funds that are privately placed and managed by an open-end investment management company (the “Trust”). If we elect to redeem shares, the Trust will normally redeem all shares for cash, but may, in unusual circumstances, redeem amounts exceeding the lesser of $250 thousand or 1 percent of the Trust’s asset value by payment in kind of securities held by the respective fund during any 90-day period. We also invest in actively traded open-end mutual funds. Redemptions are subject to normal terms and conditions as described in each fund’s prospectus. For the three months ended June 30, 2021, non-cash investing activities related to in-kind redemptions and subsequent purchases amounted to $1.1 billion. Unrealized Losses on Securities Available-for-sale debt securities in a continuous loss position for less than twelve months and greater than twelve months were not significant as of June 30, 2021 and March 31, 2021. An allowance for credit losses is established when it is determined that a credit loss has occurred. As of June 30, 2021, management determined that credit losses did not exist for securities in an unrealized loss position. This analysis considered a variety of factors including, but not limited to, performance indicators of the issuer, default rates, industry analyst reports, credit ratings, and other relevant information, which indicated that contractual cash flows are expected to occur. Gains and Losses on Securities The following table represents gains and losses on our investments in marketable securities presented in our Consolidated Statements of Income: Three months ended June 30, 2021 2020 Available-for-sale debt securities: Unrealized gains for securities for which the fair value option was elected $ 9 $ - Realized gains $ - $ 14 Equity investments: Unrealized gains $ 84 $ 100 Realized gains on sales $ 22 $ 11 Contractual Maturities The amortized cost and fair value by contractual maturities of available-for-sale debt securities are summarized in the following table. Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations. June 30, 2021 Amortized c Fair value Available-for-sale debt securities: Due within 1 year $ 147 $ 149 Due after 1 year through 5 years 467 476 Due after 5 years through 10 years 316 321 Due after 10 years 224 232 Mortgage-backed and asset-backed securities 1 187 194 Total $ 1,341 $ 1,372 1 Mortgage-backed and asset-backed securities are shown separately from other maturity groupings as these securities have multiple maturity dates.

Finance Receivables, Net

Finance Receivables, Net	3 Months Ended
Finance Receivables, Net	Jun. 30, 2021
Receivables [Abstract]
Finance Receivables, Net	Note 3 – Finance Receivables, Net Finance receivables, net consists of the retail loan and dealer products portfolio segments, and includes deferred origination costs, deferred income, and allowance for credit losses. Finance receivables, net also includes securitized retail receivables, which represent retail receivables that have been sold for legal purposes to securitization trusts but continue to be included in our consolidated financial statements, as discussed further in Note 8 – Variable Interest Entities. Cash flows from these securitized retail receivables are available only for the repayment of debt issued by these trusts and other obligations arising from the securitization transactions. They are not available for payment of our other obligations or to satisfy claims of our other creditors. Finance receivables, net consisted of the following: June 30, March 31, 2021 2021 Retail receivables 1 $ 69,014 $ 66,991 Dealer financing 10,786 13,642 79,800 80,633 Deferred origination costs 1,207 1,145 Deferred income (1,360 ) (1,408 ) Allowance for credit losses Retail and securitized retail receivables (1,052 ) (1,075 ) Dealer financing (95 ) (103 ) Total allowance for credit losses (1,147 ) (1,178 ) Finance receivables, net $ 78,500 $ 79,192 1 Accrued interest related to finance receivables is presented in Other assets on the Consolidated Balance Sheets and was $193 million and $187 million at June 30, 2021 and March 31, 2021, respectively. Note 3 – Finance Receivables, Net (Continued) Credit Quality Indicators We are exposed to credit risk on our finance receivables. Credit risk is the risk of loss arising from the failure of customers or dealers to meet the terms of their contracts with us or otherwise fail to perform as agreed. Retail Loan Portfolio Segment The retail loan portfolio segment consists of one class of finance receivables. While we use various credit quality metrics to develop our allowance for credit losses on the retail loan portfolio segment, we primarily utilize the aging of the individual accounts to monitor the credit quality of these finance receivables. Based on our experience, the payment status of borrowers is the strongest indicator of the credit quality of the underlying receivables. Payment status also impacts charge-offs. Individual borrower accounts within the retail loan portfolio segment are segregated into aging categories based on the number of days outstanding. The aging of finance receivables is updated monthly. The following tables present the amortized cost basis of our retail loan portfolio by credit quality indicator based on number of days outstanding by origination year: Amortized Cost Basis by Origination Fiscal Year at June 30, 2021 2022 2021 2020 2019 2018 2017 and Prior Total Aging of finance receivables: Current $ 9,157 $ 29,795 $ 14,097 $ 7,720 $ 5,064 $ 2,145 $ 67,978 30-59 days past due 21 220 144 106 77 62 630 60-89 days past due - 65 44 31 21 19 180 90 days or greater past due - 24 17 12 9 11 73 Total $ 9,178 $ 30,104 $ 14,302 $ 7,869 $ 5,171 $ 2,237 $ 68,861 Amortized Cost Basis by Origination Fiscal Year at March 31, 2021 2021 2020 2019 2018 2017 2016 and Prior Total Aging of finance receivables: Current $ 32,026 $ 16,047 $ 8,972 $ 5,977 $ 2,435 $ 496 $ 65,953 30-59 days past due 147 145 114 83 46 27 562 60-89 days past due 37 39 28 21 11 8 144 90 days or greater past due 18 18 13 9 5 6 69 Total $ 32,228 $ 16,249 $ 9,127 $ 6,090 $ 2,497 $ 537 $ 66,728 The amortized cost of retail loan portfolio excludes accrued interest of $171 million and $160 million at June 30, 2021 and March 31, 2021 Note 3 – Finance Receivables, Net (Continued) Dealer Products Portfolio Segment The dealer products portfolio segment consists of three classes of finance receivables: wholesale, real estate and working capital. All loans outstanding for an individual dealer or dealer group, which includes affiliated entities, are aggregated and evaluated collectively by dealer or dealer group. This reflects the interconnected nature of financing provided to our individual dealer and dealer group customers, and their affiliated entities. When assessing the credit quality of the finance receivables within the dealer products portfolio segment, we segregate the finance receivables account balances into four categories representing distinct credit quality indicators based on internal risk assessments. The internal risk assessments for all finance receivables within the dealer products portfolio segment are updated on a monthly basis. The four credit quality indicators are: • Performing – Account not classified as either Credit Watch, At Risk or Default; • Credit Watch – Account designated for elevated attention; • At Risk – Account where there is an increased likelihood that default may exist based on qualitative and quantitative factors; and • Default – Account is not currently meeting contractual obligations or we have temporarily waived certain contractual requirements The following tables present the amortized cost basis of our dealer products portfolio by credit quality indicator based on internal risk assessments by origination year: Amortized Cost Basis by Origination Fiscal Year at June 30, 2021 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Total Wholesale Performing $ - $ - $ - $ - $ - $ - $ 3,482 $ 3,482 Credit Watch - - - - - - 83 83 At Risk - - - - - - 15 15 Default - - - - - - - - Wholesale total $ - $ - $ - $ - $ - $ - $ 3,580 $ 3,580 Real estate Performing $ 364 $ 1,717 $ 280 $ 511 $ 357 $ 1,650 $ - $ 4,879 Credit Watch - - 48 3 5 98 - 154 At Risk 9 13 - - - 26 - 48 Default 13 - - - - - - 13 Real estate total $ 386 $ 1,730 $ 328 $ 514 $ 362 $ 1,774 $ - $ 5,094 Working Capital Performing $ 171 $ 447 $ 285 $ 177 $ 38 $ 259 $ 702 $ 2,079 Credit Watch 18 1 - 6 - - - 25 At Risk - 1 - - - 7 - 8 Default - - - - - - - - Working capital total $ 189 $ 449 $ 285 $ 183 $ 38 $ 266 $ 702 $ 2,112 Total $ 575 $ 2,179 $ 613 $ 697 $ 400 $ 2,040 $ 4,282 $ 10,786 Note 3 – Finance Receivables, Net (Continued) Amortized Cost Basis by Origination Fiscal Year at March 31, 2021 2021 2020 2019 2018 2017 2016 and Prior Revolving loans Total Wholesale Performing $ - $ - $ - $ - $ - $ - $ 5,893 $ 5,893 Credit Watch - - - - - - 218 218 At Risk - - - - - - 35 35 Default - - - - - - 11 11 Wholesale total $ - $ - $ - $ - $ - $ - $ 6,157 $ 6,157 Real estate Performing $ 1,874 $ 320 $ 596 $ 356 $ 312 $ 1,493 $ - $ 4,951 Credit Watch 8 49 3 20 9 99 - 188 At Risk 13 - - - 12 17 - 42 Default - - - 13 9 - - 22 Real estate total $ 1,895 $ 369 $ 599 $ 389 $ 342 $ 1,609 $ - $ 5,203 Working Capital Performing $ 503 $ 334 $ 200 $ 41 $ 106 $ 176 $ 878 $ 2,238 Credit Watch 1 - 6 1 - 19 9 36 At Risk 1 - - - 7 - - 8 Default - - - - - - - - Working capital total $ 505 $ 334 $ 206 $ 42 $ 113 $ 195 $ 887 $ 2,282 Total $ 2,400 $ 703 $ 805 $ 431 $ 455 $ 1,804 $ 7,044 $ 13,642 The amortized cost of the dealer products portfolio excludes accrued interest of $22 million and $27 million at June 30, 2021 and March 31, 2021 March 31, 2021 Note 3 – Finance Receivables, Net (Continued) Past Due Finance Receivables by Class Substantially all finance receivables do not involve recourse to the dealer in the event of customer default. Finance receivables include contracts greater than 120 days past due, which are recorded at the fair value of collateral less estimated costs to sell, and contracts in bankruptcy. Contracts for which vehicles have been repossessed are excluded. For all finance receivables, we define “past due” as any payment, including principal and interest, that is at least 30 days past the contractual due date. For any customer who is granted a payment extension under an extension program, the aging of the receivable is adjusted for the number of days of the extension granted. The following tables summarize the aging of the amortized cost basis of our finance receivables by class: June 30, 2021 30 - 59 Days past due 60 - 89 Days past due 90 greater past due Total due Current Total receivables 90 Days or greater p due and accruing Retail loan $ 630 $ 180 $ 73 $ 883 $ 67,978 $ 68,861 $ 40 Wholesale - - - - 3,580 3,580 - Real estate - - - - 5,094 5,094 - Working capital - - - - 2,112 2,112 - Total $ 630 $ 180 $ 73 $ 883 $ 78,764 $ 79,647 $ 40 March 31, 2021 30 - 59 Days past due 60 - 89 Days past due 90 greater past due Total due Current Total receivables 90 greater p due and accruing Retail loan $ 562 $ 144 $ 69 $ 775 $ 65,953 $ 66,728 $ 39 Wholesale - - - - 6,157 6,157 - Real estate - - - - 5,203 5,203 - Working capital - - - - 2,282 2,282 - Total $ 562 $ 144 $ 69 $ 775 $ 79,595 $ 80,370 $ 39 Note 3 – Finance Receivables, Net (Continued) Troubled Debt Restructuring For accounts not under bankruptcy protection, the amount of finance receivables modified as a troubled debt restructuring during the three months ended June 30, 2021 and 2020 was not significant for each class of finance receivables. Troubled debt restructurings for accounts not under bankruptcy protection within the retail loan class of finance receivables are comprised exclusively of contract term extensions that reduce the monthly payment due from the customer. For the three classes of finance receivables within the dealer products portfolio segment, troubled debt restructurings include contract term extensions, interest rate adjustments, waivers of loan covenants, or any combination of the three. Troubled debt restructurings of accounts not under bankruptcy protection did not include forgiveness of principal or interest rate adjustments during the three months ended June 30, 2021 and 2020. We consider finance receivables under bankruptcy protection within the retail loan class to be troubled debt restructurings as of the date we receive notice of a customer filing for bankruptcy protection, regardless of the ultimate outcome of the bankruptcy proceedings. The bankruptcy court may impose modifications as part of the proceedings, including interest rate adjustments and forgiveness of principal. For the three months ended June 30, 2021 and 2020, the financial impact of troubled debt restructurings related to finance receivables under bankruptcy protection was not significant to our Consolidated Statements of Income and Consolidated Balance Sheets. For a limited time during fiscal 2021 we offered several programs to provide relief to customers during the COVID-19 pandemic. These programs, which were broadly available to our customers, included retail loan payment extensions and lease payment deferrals. We concluded that these programs did not meet troubled debt restructuring criteria due to the short-term nature of the modifications with no change in the contractual interest rate. To provide relief for our dealers we offered certain temporary interest reductions, interest payment deferrals, and interest waivers on dealer floorplan financing, and principal payment deferrals on dealer floorplan financing, dealer real estate and working capital loans. We also concluded that these programs did not meet troubled debt restructuring criteria as the finance receivables from the dealers were current.

Allowance for Credit Losses

Allowance for Credit Losses	3 Months Ended
Allowance for Credit Losses	Jun. 30, 2021
Loans And Leases Receivable Disclosure [Abstract]
Allowance for Credit Losses	Note 4 – Allowance for Credit Losses The following tables provide information related to our allowance for credit losses for finance receivables and certain off-balance sheet lending commitments by portfolio segment: Three months ended June 30, 2021 Retail loan Dealer p Total Beginning balance, April 1, 2021 $ 1,075 $ 140 $ 1,215 Charge-offs (33 ) - (33 ) Recoveries 17 - 17 Provision for credit losses (7 ) 4 (3 ) Ending balance, June 30, 2021 1 $ 1,052 $ 144 $ 1,196 1 Ending balance includes $49 million of allowance for credit losses related to off-balance sheet commitments in the dealer products portfolio which is included in Other liabilities on the Consolidated Balance Sheet. Three months ended June 30, 2020 Allowance for Credit Losses for Finance Receivables: Retail loan Dealer p Total Beginning balance, April 1, 2020 $ 486 $ 241 $ 727 Adoption of ASU 2016-13 1 281 11 292 Charge-offs (69 ) - (69 ) Recoveries 9 1 10 Provision for credit losses 226 (43 ) 183 Ending balance, June 30, 2020 2 $ 933 $ 210 $ 1,143 1 Cumulative pre-tax adjustments recorded to retained earnings as of April 1, 2020. See Note 1 – Basis of Presentation and Significant Accounting Policies in our fiscal 2021 Form 10-K. 2 Ending balance includes $39 million of allowances for credit losses related to off-balance sheet commitments in the dealer products portfolio which is included in Other liabilities on the Consolidated Balance Sheet. We have elected to exclude accrued interest from the measurement of expected credit losses as we apply policies and procedures that result in the timely write-offs of accrued interest. Accrued interest is written off within allowance for credit losses at the earlier of when an account is deemed to be uncollectible or when an account is greater than 120 days past due. Finance receivables for the dealer products portfolio segment as of June 30, 2021 includes $1,033 million in finance receivables that are guaranteed by Toyota Motor North America, Inc. (“TMNA”), and $171 million in finance receivables that are guaranteed by third-party private Toyota distributors. Finance receivables for the dealer products portfolio segment as of June 30, 2020 includes $989 million in finance receivables that are guaranteed by TMNA, and $127 million in finance receivables that are guaranteed by third-party private Toyota distributors. These finance receivables are related to certain Toyota and Lexus dealers and other third parties to whom we provided financing at the request of TMNA and third-party private Toyota distributors. For the three months ended June 30, 2020, the allowance for credit losses increased $416 million reflecting an increase to the allowance for credit losses of $292 million related to the adoption of ASU 2016-13, and an increase of $124 million primarily due to the increase in expected credit losses driven by economic conditions caused by the COVID-19 pandemic and the restrictions designed to slow the spread of COVID-19, including stay-at-home orders, increased unemployment, and decreased consumer spending. In addition, the increase in the provision of credit losses was due to the adoption of ASU 2016-13 in fiscal 2021, which replaced the incurred loss impairment model with a model that reflects expected credit losses over the expected life of the finance receivables and certain off-balance sheet lending commitment.

Investments in Operating Leases

Investments in Operating Leases, Net	3 Months Ended
Investments in Operating Leases, Net	Jun. 30, 2021
Leases Operating [Abstract]
Investments in Operating Leases, Net	Note 5 – Investments in Operating Leases, Net Investments in operating leases, net consists of vehicle lease contracts acquired from dealers, and includes deferred origination fees and costs, deferred income, and accumulated depreciation. Securitized investments in operating leases represent beneficial interests in a pool of certain vehicle leases that have been sold for legal purposes to securitization trusts but continue to be included in our consolidated financial statements as discussed further in Note 8 - Variable Interest Entities. Cash flows from these securitized investments in operating leases are available only for the repayment of debt issued by these trusts and other obligations arising from the securitization transactions. They are not available for payment of our other obligations or to satisfy claims of our other creditors. Investments in operating leases, net consisted of the following: June 30, March 31, 2021 2021 Investments in operating leases 1 $ 48,692 $ 48,337 Deferred origination (fees) and costs, net (72 ) (101 ) Deferred income (1,790 ) (1,759 ) Accumulated depreciation (9,046 ) (9,386 ) Investments in operating leases, net $ 37,784 $ 37,091 1 Includes securitized investments in operating leases of $11.9 billion and $9.3 billion as of June 30, 2021 and March 31, 2021

Derivatives, Hedging Activities

Derivatives, Hedging Activities and Interest Expense	3 Months Ended
Derivatives, Hedging Activities and Interest Expense	Jun. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivatives, Hedging Activities and Interest Expense	Note 6 – Derivatives, Hedging Activities and Interest Expense Derivative Instruments Our liabilities consist mainly of fixed and variable rate debt, denominated in U.S. dollars and various other currencies, which we issue in the global capital markets, while our assets consist primarily of U.S. dollar denominated, fixed rate receivables. We enter into interest rate swaps, and foreign currency swaps to economically hedge the interest rate and foreign currency risks that result from the different characteristics of our assets and liabilities. Our use of derivative transactions is intended to reduce long-term fluctuations in the fair value of assets and liabilities caused by market movements. All of our derivative activities are authorized and monitored by our management and our Asset-Liability Committee which provides a framework for financial controls and governance to manage market risk. Offsetting of Derivatives Accounting guidance permits the net presentation on our Consolidated Balance Sheets of derivative receivables and derivative payables with the same counterparty and the related cash collateral when a legally enforceable master netting agreement exists, or when the derivative receivables and derivative payables meet all the conditions for the right of setoff to exist. When we meet this condition, we elect to present such balances on a net basis. Over-the-Counter (“OTC”) Derivatives Our International Swaps and Derivatives Association (“ISDA”) Master Agreements are our master netting agreements which permit multiple transactions to be cancelled and settled with a single net balance paid to either party for our OTC derivatives. The master netting agreements also contain reciprocal collateral agreements which require the transfer of cash collateral to the party in a net asset position across all transactions. Our collateral agreements with substantially all our counterparties include a zero threshold, full collateralization arrangement. Although we have daily valuation and collateral exchange arrangements with all of our counterparties, due to the time required to move collateral, there may be a delay of up to one day between the exchange of collateral and the valuation of our derivatives. We would not be required to post additional collateral to the counterparties with whom we were in a net liability position at June 30, 2021, if our credit ratings were to decline, since we fully collateralize without regard to credit ratings with these counterparties. In addition, as our collateral agreements include legal right of offset provisions, collateral amounts are netted against derivative assets or derivative liabilities, and the net amount is included in Other assets or Other liabilities on our Consolidated Balance Sheets. Centrally Cleared Derivatives For our centrally cleared derivatives, variation margin payments are legally characterized as settlement payments and accounted for with corresponding derivative positions as one unit of account as opposed to collateral. Initial margin payments are separately recorded in Other assets on our Consolidated Balance Sheets. We perform valuation and margin exchange on a daily basis. Similar to the OTC swaps, there may be a delay of up to one day between the exchange of margin payments and the valuation of our derivatives. Note 6 – Derivatives, Hedging Activities and Interest Expense (Continued) Derivative Activity Impact on Consolidated Financial Statements The following tables show the financial statement line item and amount of our derivative assets and liabilities that are reported on our Consolidated Balance Sheets: June 30, 2021 March 31, 2021 Fair Fair Notional value Notional value Other assets: Interest rate swaps $ 48,706 $ 1,041 $ 44,125 $ 1,026 Foreign currency swaps 7,417 348 7,274 330 Total $ 56,123 $ 1,389 $ 51,399 $ 1,356 Counterparty netting (726 ) (840 ) Collateral held (609 ) (462 ) Carrying value of derivative contracts – Other assets $ 54 $ 54 Other liabilities: Interest rate swaps $ 50,656 $ 880 $ 55,062 $ 1,142 Foreign currency swaps 5,283 282 4,321 243 Total $ 55,939 $ 1,162 $ 59,383 $ 1,385 Counterparty netting (726 ) (840 ) Collateral posted (420 ) (544 ) Carrying value of derivative contracts – Other liabilities $ 16 $ 1 As of June 30, 2021 and March 31, 2021, we held excess collateral of $19 million and $29 million, respectively, which we did not use to offset derivative assets and was recorded in Other liabilities on our Consolidated Balance Sheets. As of June 30, 2021 and March 31, 2021, we posted initial margin and excess collateral of $2 million and $10 million, respectively, which we did not use to offset derivative liabilities and was recorded in Other assets on our Consolidated Balance Sheets. Note 6 – Derivatives, Hedging Activities and Interest Expense (Continued) The following table summarizes the components of interest expense, including the location and amount of gains and losses on derivative instruments and related hedged items, as reported in our Consolidated Statements of Income: Three months ended June 30, 2021 2020 Interest expense on debt $ 389 $ 576 Interest expense on derivatives 66 109 Interest expense on debt and derivatives 455 685 Losses on debt denominated in foreign currencies 10 548 Losses (gains) on foreign currency swaps 25 (593 ) Gains on U.S. dollar interest rate swaps (204 ) (92 ) Total interest expense $ 286 $ 548 Interest expense on debt and derivatives represents net interest settlements and changes in accruals. Gains and losses on derivatives and debt denominated in foreign currencies exclude net interest settlements and changes in accruals. Cash flows associated with derivatives are reported in Net cash provided by operating activities in our Consolidated Statements of Cash Flows.

Debt and Credit Facilities

Debt and Credit Facilities	3 Months Ended
Debt and Credit Facilities	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt and Credit Facilities	Note 7 – Debt and Credit Facilities Debt and the related weighted average contractual interest rates are summarized as follows: June 30, 2021 March 31, 2021 Face value Carrying value Weighted average contractual interest rates Face value Carrying value Weighted average contractual interest rates Unsecured notes and loans payable 84,483 84,233 1.21 % 85,759 85,513 1.31 % Secured notes and loans payable 24,951 24,900 1.15 % 24,256 24,212 1.29 % Total debt $ 109,434 $ 109,133 1.20 % $ 110,015 $ 109,725 1.31 % The carrying value of our debt includes unamortized premiums, discounts, debt issuance costs and the effects of foreign currency translation adjustments. Weighted average contractual interest rates are calculated based on original notional or par value before consideration of premium or discount and approximate the effective interest rates. Debt is callable at par value. Unsecured Notes and Loans Payable Our unsecured notes and loans payable consist of commercial paper and fixed and variable rate debt. Short-term funding needs are met through the issuance of commercial paper in the U.S. Amounts outstanding under our commercial paper programs were $17.0 billion as of June 30, 2021 and March 31, 2021, respectively. Upon issuance of fixed rate debt, we generally elect to enter into pay-float swaps to convert fixed rate payments on debt to floating rate payments. Certain unsecured notes and loans payable are denominated in various foreign currencies. The debt is translated into U.S. dollars using the applicable exchange rate at the transaction date and retranslated at each balance sheet date using the exchange rate in effect at that date. Concurrent with the issuance of these foreign currency unsecured notes and loans payable, we enter into currency swaps in the same notional amount to convert non-U.S. currency payments to U.S. dollar denominated payments. Gains and losses related to foreign currency transactions are included in Interest expense in our Consolidated Statements of Income. Certain of our unsecured notes and loans payable contain covenants and conditions customary in transactions of this nature, including negative pledge provisions, cross-default provisions and limitations on certain consolidations, mergers and sales of assets. We are currently in compliance with these covenants and conditions. Secured Notes and Loans Payable Our secured notes and loans payable are denominated in U.S. dollars and consist of both fixed and variable rate debt. Secured notes and loans payable are issued using on-balance sheet securitization trusts, as further discussed in Note 8 – Variable Interest Entities. These notes are repayable only from collections on the underlying securitized retail finance receivables and the beneficial interests in investments in operating leases and from related credit enhancements. Some of our secured notes are backed by a revolving pool of finance receivables and cash collateral, with the ability to repay the notes in full after the revolving period ends, after which an amortization period begins. Note 7 – Debt and Credit Facilities (Continued) Credit Facilities and Letters of Credit For additional liquidity purposes, we maintain credit facilities, which may be used for general corporate purposes, as described below: 364-Day Credit Agreement, Three-Year Credit Agreement and Five-Year Credit Agreement TMCC, Toyota Credit de Puerto Rico Corp. (“TCPR”), and other Toyota affiliates are party to a $5.0 billion 364-day syndicated bank credit facility, a $5.0 billion three-year syndicated bank credit facility, and a $5.0 billion five-year syndicated bank credit facility, expiring in fiscal 2022, 2023, and 2025, respectively. The ability to make draws is subject to covenants and conditions customary in transactions of this nature, including negative pledge provisions, cross-default provisions and limitations on certain consolidations, mergers and sales of assets. These agreements were not drawn upon and had no outstanding balances as of June 30, 2021 and March 31, 2021. We are currently in compliance with the covenants and conditions of the credit agreements described above. Committed Revolving Asset-backed Facility We are party to a 364-day revolving securitization facility with certain bank-sponsored asset-backed conduits and other financial institutions expiring in fiscal 2023. Under the terms and subject to the conditions of this facility, the committed lenders under the facility have committed to make advances up to a facility limit of $7.0 billion backed by eligible retail finance receivables transferred by us to a special-purpose entity acting as borrower. As of June 30, 2021, $2.7 billion of this facility was utilized. Other Unsecured Credit Agreements TMCC is party to additional unsecured credit facilities with various banks. As of June 30, 2021, TMCC had committed bank credit facilities totaling $4.4 billion, of which $2.0 billion, $2.1 billion, and $300 million mature in fiscal 2022, 2023, and 2024, respectively. These credit agreements contain covenants and conditions customary in transactions of this nature, including negative pledge provisions, cross-default provisions and limitations on certain consolidations, mergers and sales of assets. These credit facilities were not drawn upon and had no outstanding balances as of June 30, 2021 and March 31, 2021. We are currently in compliance with the covenants and conditions of the credit agreements described above. TMCC is party to a $5.0 billion three-year revolving credit facility with Toyota Motor Sales U.S.A., Inc. expiring in fiscal 2025. This credit facility was not drawn upon and had no outstanding balance as of June 30, 2021 and March 31, 2021. From time to time, we may borrow from affiliates based upon a number of business factors such as funds availability, cash flow timing, relative cost of funds, and market access capabilities. Amounts borrowed from affiliates are recorded in Other liabilities on our Consolidated Balance Sheets.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
Variable Interest Entities	Jun. 30, 2021
Variable Interest Entities [Abstract]
Variable Interest Entities	Note 8 – Variable Interest Entities Consolidated Variable Interest Entities We use one or more special purpose entities that are considered Variable Interest Entities (“VIEs”) to issue asset-backed securities to third-party bank-sponsored asset-backed securitization vehicles and to investors in securitization transactions. The securities issued by these VIEs are backed by the cash flows related to retail finance receivables and beneficial interests in investments in operating leases (“Securitized Assets”). We hold variable interests in the VIEs that could potentially be significant to the VIEs. We determined that we are the primary beneficiary of the securitization trusts because (i) our servicing responsibilities for the Securitized Assets give us the power to direct the activities that most significantly impact the performance of the VIEs, and (ii) our variable interests in the VIEs give us the obligation to absorb losses and the right to receive residual returns that could potentially be significant. The following tables show the assets and liabilities related to our VIE securitization transactions that were included on our Consolidated Balance Sheets: June 30, 2021 VIE Assets VIE Liabilities Net Restricted cash securitized assets Other assets Debt Other liabilities Retail finance receivables $ 1,344 $ 21,097 $ 45 $ 18,819 $ 7 Investments in operating leases 504 8,585 13 6,081 1 Total $ 1,848 $ 29,682 $ 58 $ 24,900 $ 8 March 31, 2021 VIE Assets VIE Liabilities Net Restricted cash securitized assets Other assets Debt Other liabilities Retail finance receivables $ 1,521 $ 21,745 $ 46 $ 19,665 $ 13 Investments in operating leases 436 6,599 43 4,547 1 Total $ 1,957 $ 28,344 $ 89 $ 24,212 $ 14 Restricted Cash, including cash equivalents, shown in the previous table represents collections from the underlying Net securitized assets and certain reserve deposits held by TMCC for the VIEs and is included as part of Restricted cash and cash equivalents on our Consolidated Balance Sheets. Net securitized assets shown in the previous table are presented net of deferred fees and costs, deferred income, accumulated depreciation and allowance for credit losses. Other assets represent accrued interests related to securitized retail finance receivables and used vehicles held-for-sale that were repossessed by or returned to TMCC for the benefit of the VIEs. The related debt of these consolidated VIEs is presented net of $1,459 million and $1,409 million of securities retained by TMCC at June 30, 2021 and March 31, 2021, respectively. Other liabilities represent accrued interest on the debt of the consolidated VIEs. The assets of the VIEs and the restricted cash and cash equivalents held by TMCC serve as the sole source of repayment for the asset-backed securities issued by these entities. Investors in the notes issued by the VIEs do not have recourse to us or our other assets, with the exception of customary representation and warranty repurchase provisions and indemnities. As the primary beneficiary of these entities, we are exposed to credit, residual value, interest rate, and prepayment risk from the Securitized Assets in the VIEs. However, our exposure to these risks did not change as a result of the transfer of the assets to the VIEs. We may also be exposed to interest rate risk arising from the secured notes issued by the VIEs. Note 8 – Variable Interest Entities (Continued) In addition, we entered into interest rate swaps with certain special purpose entities that issue variable rate debt. Under the terms of these swaps, the special purpose entities are obligated to pay TMCC a fixed rate of interest on certain payment dates in exchange for receiving a floating rate of interest on notional amounts equal to the outstanding balance of the secured debt. This arrangement enables the special purpose entities to mitigate the interest rate risk inherent in issuing variable rate debt that is secured by fixed rate Securitized Assets. The transfers of the Securitized Assets to the special purpose entities in our securitizations are considered to be sales for legal purposes. However, the Securitized Assets and the related debt remain on our Consolidated Balance Sheets. We recognize financing revenue on the Securitized Assets and interest expense on the secured debt issued by the special purpose entities. We also maintain an allowance for credit losses on the securitized retail finance receivables using a methodology consistent with that used for our non-securitized asset portfolio. The interest rate swaps between TMCC and the special purpose entities are considered intercompany transactions and therefore are eliminated in our consolidated financial statements. Non-consolidated Variable Interest Entities We provide lending to Toyota and Lexus dealers through the Toyota Dealer Investment Group’s Dealer Capital Program (“TDIG Program”) operated by our affiliate TMNA, which has an equity interest in these dealerships. Dealers participating in this program have been determined to be VIEs. We do not consolidate the dealerships in this program as we are not the primary beneficiary and any exposure to loss is limited to the amount of the credit facility. Amounts due from these dealers under the TDIG Program that are classified as Finance receivables, net in our Consolidated Balance Sheets as of June 30, 2021 and March 31, 2021 and revenues earned from these dealers for the three months ended June 30, 2021 and 2020 were not significant. We also have other lending relationships which have been determined to be VIEs, but these relationships are not consolidated as we are not the primary beneficiary. Amounts due and revenues earned under these relationships as of and for the three months ended June 30, 2021 and 2020 were not significant.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9 – Commitments and Contingencies Commitments and Guarantees We have entered into certain commitments and guarantees for which the maximum unfunded amounts are summarized in the table below: June 30, March 31, 2021 2021 Commitments: Credit facilities commitments with dealers $ 2,967 $ 2,338 Commitments under operating lease agreements 132 141 Total commitments 3,099 2,479 Guarantees of affiliate pollution control and solid waste disposal bonds 100 100 Total commitments and guarantees $ 3,199 $ 2,579 Wholesale financing is not considered to be a contractual commitment as the arrangements are not binding arrangements under which TMCC is required to perform. Commitments We provide fixed and variable rate working capital loans, revolving lines of credit, and real estate financing to dealers and various multi-franchise organizations referred to as dealer groups for facilities construction and refurbishment, working capital requirements, real estate purchases, business acquisitions and other general business purposes. These loans are typically secured with liens on real estate, vehicle inventory, and/or other dealership assets, as appropriate, and may be guaranteed by individual or corporate guarantees of affiliated dealers, dealer groups, or dealer principals. Although the loans are typically collateralized or guaranteed, the value of the underlying collateral or guarantees may not be sufficient to cover our exposure under such agreements. Our pricing reflects market conditions, the competitive environment, the level of support dealers provide our retail, lease and voluntary protection business and the credit worthiness of each dealer. Amounts drawn under these facilities are reviewed for collectability on a quarterly basis, in conjunction with our evaluation of the allowance for credit losses. We have also extended credit facilities to affiliates as described in Note 12 – Related Party Transactions in our fiscal 2021 Form 10-K. Lease Commitments Our operating lease portfolio consists of real estate leases. Total operating lease expense, including payments to affiliates, was $8 million for the three months ended June 30, 2021, as compared to $9 million for the same period in fiscal 2021. We have a lease agreement through August 2032 with TMNA for our headquarters facility in Plano, Texas. Commitments under operating lease agreements in the previous table include $91 million and $93 million for facilities leases with affiliates at June 30, 2021 and March 31, 2021, respectively. Lease terms may contain renewal and extension options or early termination features. Generally, these options do not impact the lease term because TMCC is not reasonably certain that it will exercise the options. These lease agreements do not impose restrictions on our ability to pay dividends, engage in debt or equity financing transactions or enter into further lease agreements, nor do they have residual value guarantees. We exclude from our Consolidated Balance Sheets leases with a term equal to one year or less and do not separate non-lease components from our real estate leases. Note 9 – Commitments and Contingencies (Continued) Our commitments under operating lease agreements are summarized below: June 30, Years ending March 31, 2021 2022 $ 16 2023 18 2024 16 2025 13 2026 12 Thereafter 57 Total $ 132 Present value discount (15 ) Total operating lease liability $ 117 Operating lease liabilities and right-of-use (“ROU”) assets are recognized at the lease commencement date based on the present value of the future minimum lease payments over the lease term. The following table provides additional information related to operating lease agreements for which we are the lessee: June 30, 2021 ROU assets $ 107 Weighted average remaining lease term (in years) 8.7 Weighted average discount rate 2.77 % Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities - operating cash flows $ 10 Guarantees and Other Contingencies TMCC has guaranteed bond obligations totaling $100 million in principal that were issued by Putnam County, West Virginia and Gibson County, Indiana to finance the construction of pollution control facilities at manufacturing plants of certain TMCC affiliates. The bonds mature in the following fiscal years ending March 31: 2028 - $20 million; 2029 - $50 million; 2030 - $10 million; 2031 - $10 million; and 2032 - $10 million. TMCC would be required to perform under the guarantees in the event of non-payment on the bonds and other related obligations. TMCC is entitled to reimbursement by the applicable affiliates for any amounts paid. TMCC receives a nominal annual fee for guaranteeing such payments. TMCC has not been required to perform under any of these affiliate bond guarantees as of June 30, 2021 and March 31, 2021. Note 9 – Commitments and Contingencies (Continued) Indemnification In the ordinary course of business, we enter into agreements containing indemnification provisions standard in the industry related to several types of transactions, including, but not limited to, debt funding, derivatives, securitization transactions, and our vendor, supplier and service agreements. Performance under these indemnities would generally occur upon a breach of the representations, warranties, covenants or other commitments made or given in the agreement, or as a result of a third-party claim. In addition, we have agreed in certain debt and derivative issuances, and subject to certain exceptions, to gross-up payments due to third parties in the event that withholding tax is imposed on such payments. In addition, certain of our funding arrangements may require us to pay lenders for increased costs due to certain changes in laws or regulations. Due to the difficulty in predicting events which could cause a breach of the indemnification provisions or trigger a gross-up or other payment obligation, we are not able to estimate our maximum exposure to future payments that could result from claims made under such provisions. We have not made any material payments in the past as a result of these provisions, and as of June 30, 2021, we determined that it is not probable that we will be required to make any material payments in the future. As of June 30, 2021 and March 31, 2021, no amounts have been recorded under these indemnification provisions. Litigation and Governmental Proceedings Various legal actions, governmental proceedings and other claims are pending or may be instituted or asserted in the future against us with respect to matters arising in the ordinary course of business. Certain of these actions are or purport to be class action suits, seeking sizeable damages and/or changes in our business operations, policies and practices. Certain of these actions are similar to suits that have been filed against other financial institutions and captive finance companies. In addition, we are subject to governmental and regulatory examinations, information-gathering requests, and investigations from time to time at the state and federal levels. It is inherently difficult to predict the course of such legal actions and governmental inquiries. We perform periodic reviews of pending claims and actions to determine the probability of adverse verdicts and resulting amounts of liability. We establish accruals for legal claims when payments associated with the claims become probable and the costs can be reasonably estimated. When we are able, we also determine estimates of reasonably probable loss or range of loss, whether in excess of any related accrued liability or where there is no accrued liability. Given the inherent uncertainty associated with legal matters, the actual costs of resolving legal claims and associated costs of defense may be substantially higher or lower than the amounts for which accruals have been established. Based on available information and established accruals, we do not believe it is reasonably probable that the results of these proceedings, either individually or in the aggregate, will have a material adverse effect on our consolidated financial condition or results of operations. On November 24, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a civil investigative demand to the Company seeking, among other things, certain information relating to the Company’s vehicle and payment protection products and credit reporting policies and procedures and reporting records. We are cooperating with the inquiry and cannot predict the eventual scope, duration or outcome at this time. As a result, we are unable to estimate the amount or range of any potential loss arising from this investigation.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 10 – Income Taxes Our provision for income taxes was $267 million for the three months ended June 30, 2021, compared to $113 million for the same period in fiscal 2021. Our effective tax rate was 22 percent for the three months ended June 30, 2021, compared to 23 percent for the same period in fiscal 2021. The increase in the provision for income taxes for the three months ended June 30, 2021, compared to the same period in fiscal 2021, was primarily due to the increase in income before income taxes. The change in our effective tax rate for the three months ended June 30, 2021, compared to the same period in fiscal 2021, was primarily attributable to the tax benefit from the federal tax credits recognized in fiscal 2022. Tax-related Contingencies As of June 30, 2021, we remain under IRS examination for fiscal 2018 through fiscal 2022. We periodically review our uncertain tax positions. Our assessment is based on many factors including any ongoing IRS audits. For the three months ended June 30, 2021, our assessment did not result in a material change in unrecognized tax benefits. Our deferred tax assets include the deferred deduction of allowance for credit losses and residual value loss estimates and other deferred costs. The total deferred tax liability, net of these deferred tax assets, was $2.6 billion and $2.9 billion at June 30, 2021 and March 31, 2021, respectively. Although realization of the deferred tax assets is not assured, management believes it is more likely than not that the deferred tax assets will be realized. The amount of the deferred tax assets considered realizable could be reduced if management’s estimates change.

Related Party Transactions

Related Party Transactions	3 Months Ended
Related Party Transactions	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Note 11 – Related Party Transactions In April 2021, TMCC increased financing support available to Toyota Finance New Zealand Limited to $250 million. In August 2021, TMCC increased financing support available to Toyota Financial Savings Bank to $1.0 billion. Except for the transactions mentioned above, as of June 30, 2021, there were no material changes to our related party agreements or relationships as described in our fiscal 2021 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 June 30, 2021 2020 Net financing revenues: Manufacturer's subvention and other revenues $ 479 $ 499 Depreciation on operating leases $ (28 ) $ (23 ) Interest expense: Credit support fees, interest and other expenses $ 24 $ 38 Voluntary protection contract revenues and insurance earned premiums: Voluntary protection contract revenues and insurance earned premiums $ 42 $ 44 Investment and other income, net: Interest and other income $ 3 $ 8 Expenses: Operating and administrative expenses $ 21 $ 20 Note 11 – Related Party Transactions (Continued) June 30, March 31, 2021 2021 Assets: Cash and cash equivalents Commercial paper $ 2 $ 6 Investments in marketable securities Commercial paper $ 43 $ 196 Finance receivables, net Accounts receivable $ 116 $ 140 Deferred retail subvention income $ (1,102 ) $ (1,156 ) Investments in operating leases, net Investments in operating leases, net $ (240 ) $ (236 ) Deferred lease subvention income $ (1,477 ) $ (1,528 ) Other assets Notes receivable $ 869 $ 869 Other receivables, net $ 84 $ 83 Liabilities: Other liabilities Unearned voluntary protection contract revenues and insurance earned premiums $ 363 $ 352 Other payables, net $ 183 $ 306 Notes payable $ 26 $ 19 TMCC receives subvention payments from TMNA which results in a gross monthly subvention receivable. As of June 30, 2021 and March 31, 2021, the subvention receivable from TMNA was $138 million and $184 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 June 30, 2021 and March 31, 2021, respectively, we had a net amount payable to TMNA which is recorded in Other payables, net in Other liabilities.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 12 – Fair Value Measurements Recurring Fair Value Measurements Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following tables summarize our financial assets and financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy except for certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient and are excluded from the leveling information provided in the tables below. Fair value amounts presented below are intended to permit reconciliation of the fair value hierarchy to the amounts presented in our Consolidated Balance Sheets. June 30, 2021 Counterparty netting & Fair Level 1 Level 2 Level 3 collateral value Investments in marketable securities: Available-for-sale debt securities: U.S. government and agency obligations $ 419 $ 11 $ - $ - $ 430 Foreign government and agency obligations - 31 - - 31 Municipal debt securities - 8 3 - 11 Commercial paper - 43 - - 43 Corporate debt securities - 663 - - 663 Mortgage-backed securities: U.S. government agency - 28 - - 28 Non-agency residential - 9 4 - 13 Non-agency commercial - 70 3 - 73 Asset-backed securities - 63 17 - 80 Available-for-sale debt securities total 419 926 27 - 1,372 Equity investments: Fixed income mutual funds: Fixed income mutual funds measured at net asset value 1,111 Total return bond funds 1,415 - - - 1,415 Equity mutual funds 945 - - - 945 Equity investments total 2,360 - - - 3,471 Investments in marketable securities total 2,779 926 27 - 4,843 Derivative assets: Interest rate swaps - 1,041 - - 1,041 Foreign currency swaps - 348 - - 348 Counterparty netting and collateral - - - (1,335 ) (1,335 ) Derivative assets total - 1,389 - (1,335 ) 54 Assets at fair value 2,779 2,315 27 (1,335 ) 4,897 Derivative liabilities: Interest rate swaps - (880 ) - - (880 ) Foreign currency swaps - (282 ) - - (282 ) Counterparty netting and collateral - - - 1,146 1,146 Liabilities at fair value - (1,162 ) - 1,146 (16 ) Net assets at fair value $ 2,779 $ 1,153 $ 27 $ (189 ) $ 4,881 Note 12 – Fair Value Measurements (Continued) March 31, 2021 Counterparty netting & Fair Level 1 Level 2 Level 3 collateral value Investments in marketable securities: Available-for-sale debt securities: U.S. government and agency obligations $ 209 $ 2 $ - $ - $ 211 Municipal debt securities - 10 - - 10 Commercial paper 20 176 - - 196 Corporate debt securities - 187 - - 187 Mortgage-backed securities: U.S. government agency - 32 - - 32 Non-agency residential - - 1 - 1 Non-agency commercial - 5 42 - 47 Asset-backed securities - 19 33 - 52 Available-for-sale debt securities total 229 431 76 - 736 Equity investments: Fixed income mutual funds: Fixed income mutual funds measured at net asset value 772 Total return bond funds 2,429 - - - 2,429 Equity mutual funds 883 - - - 883 Equity investments total 3,312 - - - 4,084 Investments in marketable securities total 3,541 431 76 - 4,820 Derivative assets: Interest rate swaps - 1,026 - - 1,026 Foreign currency swaps - 330 - - 330 Counterparty netting and collateral - - - (1,302 ) (1,302 ) Derivative assets total - 1,356 - (1,302 ) 54 Assets at fair value 3,541 1,787 76 (1,302 ) 4,874 Derivative liabilities: Interest rate swaps - (1,142 ) - - (1,142 ) Foreign currency swaps - (243 ) - - (243 ) Counterparty netting and collateral - - - 1,384 1,384 Liabilities at fair value - (1,385 ) - 1,384 (1 ) Net assets at fair value $ 3,541 $ 402 $ 76 $ 82 $ 4,873 Level 3 Fair Value Measurements The Level 3 financial assets and liabilities recorded at fair value which are subject to recurring and nonrecurring fair value measurement, and the corresponding activity and change in the fair value measurements of these assets and liabilities, were not significant to our Consolidated Balance Sheets as of June 30, 2021and March 31, 2021, or Consolidated Statements of Income for the three months ended June 30, 2021 and 2020. Nonrecurring Fair Value Measurements Nonrecurring fair value measurements include Level 3 net finance receivables that are not measured at fair value on a recurring basis but are subject to fair value adjustments utilizing the fair value of the underlying collateral when there is evidence of impairment. We did not have any significant nonrecurring fair value items as of June 30, 2021 and March 31, 2021. Note 12 – Fair Value Measurements (Continued) Financial Instruments The following tables provide information about assets and liabilities not carried at fair value on a recurring basis on our Consolidated Balance Sheets: June 30, 2021 Carrying Total Fair value Level 1 Level 2 Level 3 value Financial assets Finance receivables Retail loan $ 67,974 $ - $ - $ 71,323 $ 71,323 Wholesale 3,570 - - 3,591 3,591 Real estate 5,038 - - 5,149 5,149 Working capital 1,992 - - 1,959 1,959 Financial liabilities Unsecured notes and loans payable $ 84,233 $ - $ 85,562 $ 55 $ 85,617 Secured notes and loans payable 24,900 - - 25,169 25,169 March 31, 2021 Carrying Total Fair value Level 1 Level 2 Level 3 value Financial assets Finance receivables Retail loan $ 65,808 $ - $ - $ 69,007 $ 69,007 Wholesale 6,132 - - 6,158 6,158 Real estate 5,142 - - 5,224 5,224 Working capital 2,154 - - 2,171 2,171 Financial liabilities Unsecured notes and loans payable $ 85,513 $ - $ 86,205 $ 555 $ 86,760 Secured notes and loans payable 24,212 - - 24,478 24,478 Accrued interest related to finance receivables is in Other assets in the Consolidated Balance Sheets; however, TMCC measures the fair value of each class of finance receivables using scheduled principal and interest payments. Therefore, accrued interest has been included in the carrying value of each class of finance receivables in the previous tables, along with the finance receivables, deferred origination costs, deferred income, and allowance for credit losses. Finance receivables in the previous tables excludes related party transactions, for which the fair value approximates the carrying value, of $116 million and $140 million at June 30, 2021 and March 31, 2021, respectively. Fair values of related party finance receivables, net are classified as Level 3 within the fair value hierarchy. For Cash and cash equivalents and Restricted cash and cash equivalents on our Consolidated Balance Sheets, the fair value approximates the carrying value and these instruments are classified as Level 1 within the fair value hierarchy.

Segment Information

Segment Information	3 Months Ended
Segment Information	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	Note 13 – Segment Information Financial information for our reportable operating segments, which includes allocated corporate expenses, is summarized as follows: Three months ended June 30, 2021 Finance Voluntary protection Intercompany operations operations eliminations Total Total financing revenues $ 2,999 $ - $ - $ 2,999 Depreciation on operating leases 1,441 - - 1,441 Interest expense 286 - - 286 Net financing revenues 1,272 - - 1,272 Voluntary protection contract revenues and insurance earned premiums - 249 - 249 Investment and other income, net 19 137 - 156 Net financing and other revenues 1,291 386 - 1,677 Expenses: Provision for credit losses (3 ) - - (3 ) Operating and administrative expenses 292 92 - 384 Voluntary protection contract expenses and insurance losses - 108 - 108 Total expenses 289 200 - 489 Income before income taxes 1,002 186 - 1,188 Provision for income taxes 221 46 - 267 Net income $ 781 $ 140 $ - $ 921 Total assets at June 30, 2021 $ 128,015 $ 6,524 $ (138 ) $ 134,401 Note 13 – Segment Information (Continued) Three months ended June 30, 2020 Finance Voluntary protection Intercompany operations operations eliminations Total Total financing revenues $ 2,912 $ - $ - $ 2,912 Depreciation on operating leases 1,685 - - 1,685 Interest expense 548 - - 548 Net financing revenues 679 - - 679 Voluntary protection contract revenues and insurance earned premiums - 235 - 235 Investment and other income, net 32 144 - 176 Net financing and other revenues 711 379 - 1,090 Expenses: Provision for credit losses 183 - - 183 Operating and administrative expenses 256 89 - 345 Voluntary protection contract expenses and insurance losses - 75 - 75 Total expenses 439 164 - 603 Income before income taxes 272 215 - 487 Provision for income taxes 62 51 - 113 Net income $ 210 $ 164 $ - $ 374 Total assets at June 30, 2020 $ 129,065 $ 5,720 $ (42 ) $ 134,743 Note 13 – Segment Information (Continued) Voluntary protection operations – Contract revenues For the three months ended June 30, 2021 and 2020, approximately 82 percent and 83 percent, respectively, of voluntary protection contract revenues in the Voluntary protection operations segment were accounted for under the guidance for revenue from contracts with customers. The Voluntary protection operations segment defers contractually determined incentives paid to dealers as contract costs for selling voluntary protection products. These costs are recorded in Other assets on our Consolidated Balance Sheets and are amortized to Operating and administrative expenses in the Consolidated Statements of Income using a methodology consistent with the recognition of revenue. The amount of capitalized dealer incentives and the related amortization was not significant to our consolidated financial statements as of and for the three months ended June 30, 2021 and 2020. We had $2.4 billion and $2.5 billion of unearned voluntary protection contract revenues from contracts with customers included in Other liabilities on our Consolidated Balance Sheets as of March 31, 2020 and March 31, 2021, respectively. We recognized $192 million of these balances in voluntary protection contract revenues in our Consolidated Statements of Income during the three months ended June 30, 2021, compared to $188 million recognized during the same period in fiscal 2021. At June 30, 2021, we had unearned voluntary protection contract revenues of $2.5 billion included in Other liabilities on our Consolidated Balance Sheets, and with respect to this balance we expect to recognize revenue of $558 million during fiscal 2022

Interim Financial Data (Policie

Interim Financial Data (Policies)	3 Months Ended
Interim Financial Data (Policies)	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The information furnished in these unaudited interim consolidated financial statements as of and for the three months ended June 30, 2021 and 2020 has been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). In the opinion of management, the unaudited consolidated financial information reflects all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the interim periods presented. The results of operations for the three months ended June 30, 2021 do not necessarily indicate the results which may be expected for the full fiscal year ending March 31, 2022 (“fiscal 2022”). These financial statements should be read in conjunction with the Consolidated Financial Statements and Notes to Consolidated Financial Statements included in Toyota Motor Credit Corporation’s Annual Report on Form 10-K (“Form 10-K”) for the fiscal year ended March 31, 2021 (“fiscal 2021”), which was filed with the Securities and Exchange Commission on June 3, 2021. References herein to “TMCC” denote Toyota Motor Credit Corporation, and references herein to “we”, “our”, and “us” denote Toyota Motor Credit Corporation and its consolidated subsidiaries. Other Matters In fiscal 2021, TMCC began providing private label financial services to third-party automotive and mobility companies commencing with the provision of services to Mazda Motor of America, Inc. (“Mazda”). We are currently leveraging our existing processes and personnel to originate and service the new assets; however, we will continue to evaluate the private label financial services business, which includes partnering with or transitioning a portion of the business to our affiliates, some of which are not consolidated with TMCC. We have also made certain technology investments to support the Mazda program and future private label customers.
Recently Adopted Accounting Guidance	Recently Adopted Accounting Guidance On April 1, 2021, we adopted the following new accounting standards: We adopted Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, We adopted ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs
Accounting Guidance Issued But Not Yet Adopted	Accounting Guidance Issued But Not Yet Adopted In July 2021, the FASB issued ASU 2021-05, Lessors-Certain Leases with Variable Lease Payments (Topic 842)
Investments in Marketable Securities	Investments in marketable securities consist of debt securities and equity investments. We classify all of our debt securities as available-for-sale (“AFS”). Except when fair value option is elected, AFS debt securities are recorded at fair value with unrealized gains or losses included in accumulated other comprehensive income (“AOCI”), net of applicable taxes. All equity investments are recorded at fair value with changes in fair value included in Investment and other income, net in our Consolidated Statements of Income.
Finance Receivables, Net	Finance receivables, net consists of the retail loan and dealer products portfolio segments, and includes deferred origination costs, deferred income, and allowance for credit losses. Finance receivables, net also includes securitized retail receivables, which represent retail receivables that have been sold for legal purposes to securitization trusts but continue to be included in our consolidated financial statements, as discussed further in Note 8 – Variable Interest Entities. Cash flows from these securitized retail receivables are available only for the repayment of debt issued by these trusts and other obligations arising from the securitization transactions. They are not available for payment of our other obligations or to satisfy claims of our other creditors.
Investments in Operating Leases, Net	Investments in operating leases, net consists of vehicle lease contracts acquired from dealers, and includes deferred origination fees and costs, deferred income, and accumulated depreciation. Securitized investments in operating leases represent beneficial interests in a pool of certain vehicle leases that have been sold for legal purposes to securitization trusts but continue to be included in our consolidated financial statements as discussed further in Note 8 - Variable Interest Entities. Cash flows from these securitized investments in operating leases are available only for the repayment of debt issued by these trusts and other obligations arising from the securitization transactions. They are not available for payment of our other obligations or to satisfy claims of our other creditors.
Derivative Instruments	Derivative Instruments Our liabilities consist mainly of fixed and variable rate debt, denominated in U.S. dollars and various other currencies, which we issue in the global capital markets, while our assets consist primarily of U.S. dollar denominated, fixed rate receivables. We enter into interest rate swaps, and foreign currency swaps to economically hedge the interest rate and foreign currency risks that result from the different characteristics of our assets and liabilities. Our use of derivative transactions is intended to reduce long-term fluctuations in the fair value of assets and liabilities caused by market movements. All of our derivative activities are authorized and monitored by our management and our Asset-Liability Committee which provides a framework for financial controls and governance to manage market risk.
Offsetting of Derivatives	Offsetting of Derivatives Accounting guidance permits the net presentation on our Consolidated Balance Sheets of derivative receivables and derivative payables with the same counterparty and the related cash collateral when a legally enforceable master netting agreement exists, or when the derivative receivables and derivative payables meet all the conditions for the right of setoff to exist. When we meet this condition, we elect to present such balances on a net basis. Over-the-Counter (“OTC”) Derivatives Our International Swaps and Derivatives Association (“ISDA”) Master Agreements are our master netting agreements which permit multiple transactions to be cancelled and settled with a single net balance paid to either party for our OTC derivatives. The master netting agreements also contain reciprocal collateral agreements which require the transfer of cash collateral to the party in a net asset position across all transactions. Our collateral agreements with substantially all our counterparties include a zero threshold, full collateralization arrangement. Although we have daily valuation and collateral exchange arrangements with all of our counterparties, due to the time required to move collateral, there may be a delay of up to one day between the exchange of collateral and the valuation of our derivatives. We would not be required to post additional collateral to the counterparties with whom we were in a net liability position at June 30, 2021, if our credit ratings were to decline, since we fully collateralize without regard to credit ratings with these counterparties. In addition, as our collateral agreements include legal right of offset provisions, collateral amounts are netted against derivative assets or derivative liabilities, and the net amount is included in Other assets or Other liabilities on our Consolidated Balance Sheets.
Consolidated Variable Interest Entities	Consolidated Variable Interest Entities We use one or more special purpose entities that are considered Variable Interest Entities (“VIEs”) to issue asset-backed securities to third-party bank-sponsored asset-backed securitization vehicles and to investors in securitization transactions. The securities issued by these VIEs are backed by the cash flows related to retail finance receivables and beneficial interests in investments in operating leases (“Securitized Assets”). We hold variable interests in the VIEs that could potentially be significant to the VIEs. We determined that we are the primary beneficiary of the securitization trusts because (i) our servicing responsibilities for the Securitized Assets give us the power to direct the activities that most significantly impact the performance of the VIEs, and (ii) our variable interests in the VIEs give us the obligation to absorb losses and the right to receive residual returns that could potentially be significant.
Revenue Recognition	Voluntary protection operations – Contract revenues For the three months ended June 30, 2021 and 2020, approximately 82 percent and 83 percent, respectively, of voluntary protection contract revenues in the Voluntary protection operations segment were accounted for under the guidance for revenue from contracts with customers. The Voluntary protection operations segment defers contractually determined incentives paid to dealers as contract costs for selling voluntary protection products. These costs are recorded in Other assets on our Consolidated Balance Sheets and are amortized to Operating and administrative expenses in the Consolidated Statements of Income using a methodology consistent with the recognition of revenue. The amount of capitalized dealer incentives and the related amortization was not significant to our consolidated financial statements as of and for the three months ended June 30, 2021 and 2020.

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	3 Months Ended
Investments in Marketable Securities (Tables)	Jun. 30, 2021
Marketable Securities [Abstract]
Summary of Investments in Marketable Securities	Investments in marketable securities consisted of the following: June 30, 2021 Amortized Unrealized Unrealized Fair cost gains losses value Available-for-sale debt securities: U.S. government and agency obligations $ 430 $ 7 $ (7 ) $ 430 Foreign government and agency obligations 31 - - 31 Municipal debt securities 9 2 - 11 Commercial paper 43 - - 43 Corporate debt securities 641 23 (1 ) 663 Mortgage-backed securities: U.S. government agency 27 1 - 28 Non-agency residential 13 - - 13 Non-agency commercial 71 3 (1 ) 73 Asset-backed securities 76 4 - 80 Total available-for-sale debt securities $ 1,341 $ 40 $ (9 ) $ 1,372 Equity investments 3,471 Total investments in marketable securities $ 4,843 March 31, 2021 Amortized Unrealized Unrealized Fair cost gains losses value Available-for-sale debt securities: U.S. government and agency obligations $ 217 $ 4 $ (10 ) $ 211 Municipal debt securities 8 2 - 10 Commercial paper 196 - - 196 Corporate debt securities 177 12 (2 ) 187 Mortgage-backed securities: U.S. government agency 31 1 - 32 Non-agency residential 1 - - 1 Non-agency commercial 47 2 (2 ) 47 Asset-backed securities 49 3 - 52 Total available-for-sale debt securities $ 726 $ 24 $ (14 ) $ 736 Equity investments 4,084 Total investments in marketable securities $ 4,820
Schedule of Gains and Losses on Investments in Marketable Securities Presented in Our Consolidated Statement of Income	The following table represents gains and losses on our investments in marketable securities presented in our Consolidated Statements of Income: Three months ended June 30, 2021 2020 Available-for-sale debt securities: Unrealized gains for securities for which the fair value option was elected $ 9 $ - Realized gains $ - $ 14 Equity investments: Unrealized gains $ 84 $ 100 Realized gains on sales $ 22 $ 11
Summary of Contractual Maturities of Available-For-Sale Debt Securities	The amortized cost and fair value by contractual maturities of available-for-sale debt securities are summarized in the following table. Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations. June 30, 2021 Amortized c Fair value Available-for-sale debt securities: Due within 1 year $ 147 $ 149 Due after 1 year through 5 years 467 476 Due after 5 years through 10 years 316 321 Due after 10 years 224 232 Mortgage-backed and asset-backed securities 1 187 194 Total $ 1,341 $ 1,372 1 Mortgage-backed and asset-backed securities are shown separately from other maturity groupings as these securities have multiple maturity dates.

Finance Receivables, Net (Table

Finance Receivables, Net (Tables)	3 Months Ended
Finance Receivables, Net (Tables)	Jun. 30, 2021
Receivables [Abstract]
Net Financing Receivables	Finance receivables, net consisted of the following: June 30, March 31, 2021 2021 Retail receivables 1 $ 69,014 $ 66,991 Dealer financing 10,786 13,642 79,800 80,633 Deferred origination costs 1,207 1,145 Deferred income (1,360 ) (1,408 ) Allowance for credit losses Retail and securitized retail receivables (1,052 ) (1,075 ) Dealer financing (95 ) (103 ) Total allowance for credit losses (1,147 ) (1,178 ) Finance receivables, net $ 78,500 $ 79,192 1
Schedule of Amortized Cost Basis of Retail Loan Portfolio and Dealer Products Portfolio by Credit Quality Indicator	The following tables present the amortized cost basis of our retail loan portfolio by credit quality indicator based on number of days outstanding by origination year: Amortized Cost Basis by Origination Fiscal Year at June 30, 2021 2022 2021 2020 2019 2018 2017 and Prior Total Aging of finance receivables: Current $ 9,157 $ 29,795 $ 14,097 $ 7,720 $ 5,064 $ 2,145 $ 67,978 30-59 days past due 21 220 144 106 77 62 630 60-89 days past due - 65 44 31 21 19 180 90 days or greater past due - 24 17 12 9 11 73 Total $ 9,178 $ 30,104 $ 14,302 $ 7,869 $ 5,171 $ 2,237 $ 68,861 Amortized Cost Basis by Origination Fiscal Year at March 31, 2021 2021 2020 2019 2018 2017 2016 and Prior Total Aging of finance receivables: Current $ 32,026 $ 16,047 $ 8,972 $ 5,977 $ 2,435 $ 496 $ 65,953 30-59 days past due 147 145 114 83 46 27 562 60-89 days past due 37 39 28 21 11 8 144 90 days or greater past due 18 18 13 9 5 6 69 Total $ 32,228 $ 16,249 $ 9,127 $ 6,090 $ 2,497 $ 537 $ 66,728 The following tables present the amortized cost basis of our dealer products portfolio by credit quality indicator based on internal risk assessments by origination year: Amortized Cost Basis by Origination Fiscal Year at June 30, 2021 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Total Wholesale Performing $ - $ - $ - $ - $ - $ - $ 3,482 $ 3,482 Credit Watch - - - - - - 83 83 At Risk - - - - - - 15 15 Default - - - - - - - - Wholesale total $ - $ - $ - $ - $ - $ - $ 3,580 $ 3,580 Real estate Performing $ 364 $ 1,717 $ 280 $ 511 $ 357 $ 1,650 $ - $ 4,879 Credit Watch - - 48 3 5 98 - 154 At Risk 9 13 - - - 26 - 48 Default 13 - - - - - - 13 Real estate total $ 386 $ 1,730 $ 328 $ 514 $ 362 $ 1,774 $ - $ 5,094 Working Capital Performing $ 171 $ 447 $ 285 $ 177 $ 38 $ 259 $ 702 $ 2,079 Credit Watch 18 1 - 6 - - - 25 At Risk - 1 - - - 7 - 8 Default - - - - - - - - Working capital total $ 189 $ 449 $ 285 $ 183 $ 38 $ 266 $ 702 $ 2,112 Total $ 575 $ 2,179 $ 613 $ 697 $ 400 $ 2,040 $ 4,282 $ 10,786 Amortized Cost Basis by Origination Fiscal Year at March 31, 2021 2021 2020 2019 2018 2017 2016 and Prior Revolving loans Total Wholesale Performing $ - $ - $ - $ - $ - $ - $ 5,893 $ 5,893 Credit Watch - - - - - - 218 218 At Risk - - - - - - 35 35 Default - - - - - - 11 11 Wholesale total $ - $ - $ - $ - $ - $ - $ 6,157 $ 6,157 Real estate Performing $ 1,874 $ 320 $ 596 $ 356 $ 312 $ 1,493 $ - $ 4,951 Credit Watch 8 49 3 20 9 99 - 188 At Risk 13 - - - 12 17 - 42 Default - - - 13 9 - - 22 Real estate total $ 1,895 $ 369 $ 599 $ 389 $ 342 $ 1,609 $ - $ 5,203 Working Capital Performing $ 503 $ 334 $ 200 $ 41 $ 106 $ 176 $ 878 $ 2,238 Credit Watch 1 - 6 1 - 19 9 36 At Risk 1 - - - 7 - - 8 Default - - - - - - - - Working capital total $ 505 $ 334 $ 206 $ 42 $ 113 $ 195 $ 887 $ 2,282 Total $ 2,400 $ 703 $ 805 $ 431 $ 455 $ 1,804 $ 7,044 $ 13,642
Aging of Amortized Cost Basis of Finance Receivables by Class	The following tables summarize the aging of the amortized cost basis of our finance receivables by class: June 30, 2021 30 - 59 Days past due 60 - 89 Days past due 90 greater past due Total due Current Total receivables 90 Days or greater p due and accruing Retail loan $ 630 $ 180 $ 73 $ 883 $ 67,978 $ 68,861 $ 40 Wholesale - - - - 3,580 3,580 - Real estate - - - - 5,094 5,094 - Working capital - - - - 2,112 2,112 - Total $ 630 $ 180 $ 73 $ 883 $ 78,764 $ 79,647 $ 40 March 31, 2021 30 - 59 Days past due 60 - 89 Days past due 90 greater past due Total due Current Total receivables 90 greater p due and accruing Retail loan $ 562 $ 144 $ 69 $ 775 $ 65,953 $ 66,728 $ 39 Wholesale - - - - 6,157 6,157 - Real estate - - - - 5,203 5,203 - Working capital - - - - 2,282 2,282 - Total $ 562 $ 144 $ 69 $ 775 $ 79,595 $ 80,370 $ 39

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	3 Months Ended
Allowance for Credit Losses (Tables)	Jun. 30, 2021
Loans And Leases Receivable Disclosure [Abstract]
Allowance for Credit Losses and Finance Receivables by Portfolio Segment	The following tables provide information related to our allowance for credit losses for finance receivables and certain off-balance sheet lending commitments by portfolio segment: Three months ended June 30, 2021 Retail loan Dealer p Total Beginning balance, April 1, 2021 $ 1,075 $ 140 $ 1,215 Charge-offs (33 ) - (33 ) Recoveries 17 - 17 Provision for credit losses (7 ) 4 (3 ) Ending balance, June 30, 2021 1 $ 1,052 $ 144 $ 1,196 1 Ending balance includes $49 million of allowance for credit losses related to off-balance sheet commitments in the dealer products portfolio which is included in Other liabilities on the Consolidated Balance Sheet. Three months ended June 30, 2020 Allowance for Credit Losses for Finance Receivables: Retail loan Dealer p Total Beginning balance, April 1, 2020 $ 486 $ 241 $ 727 Adoption of ASU 2016-13 1 281 11 292 Charge-offs (69 ) - (69 ) Recoveries 9 1 10 Provision for credit losses 226 (43 ) 183 Ending balance, June 30, 2020 2 $ 933 $ 210 $ 1,143 1 Cumulative pre-tax adjustments recorded to retained earnings as of April 1, 2020. See Note 1 – Basis of Presentation and Significant Accounting Policies in our fiscal 2021 Form 10-K. 2 Ending balance includes $39 million of allowances for credit losses related to off-balance sheet commitments in the dealer products portfolio which is included in Other liabilities on the Consolidated Balance Sheet.

Investments in Operating Leas_2

Investments in Operating Leases, Net (Tables)	3 Months Ended
Investments in Operating Leases, Net (Tables)	Jun. 30, 2021
Leases Operating [Abstract]
Investments in Operating Leases, Net	Investments in operating leases, net consisted of the following: June 30, March 31, 2021 2021 Investments in operating leases 1 $ 48,692 $ 48,337 Deferred origination (fees) and costs, net (72 ) (101 ) Deferred income (1,790 ) (1,759 ) Accumulated depreciation (9,046 ) (9,386 ) Investments in operating leases, net $ 37,784 $ 37,091 1 Includes securitized investments in operating leases of $11.9 billion and $9.3 billion as of June 30, 2021 and March 31, 2021

Derivatives, Hedging Activiti_2

Derivatives, Hedging Activities and Interest Expense (Tables)	3 Months Ended
	Jun. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Activity Impact on Consolidated Balance Sheet	The following tables show the financial statement line item and amount of our derivative assets and liabilities that are reported on our Consolidated Balance Sheets: June 30, 2021 March 31, 2021 Fair Fair Notional value Notional value Other assets: Interest rate swaps $ 48,706 $ 1,041 $ 44,125 $ 1,026 Foreign currency swaps 7,417 348 7,274 330 Total $ 56,123 $ 1,389 $ 51,399 $ 1,356 Counterparty netting (726 ) (840 ) Collateral held (609 ) (462 ) Carrying value of derivative contracts – Other assets $ 54 $ 54 Other liabilities: Interest rate swaps $ 50,656 $ 880 $ 55,062 $ 1,142 Foreign currency swaps 5,283 282 4,321 243 Total $ 55,939 $ 1,162 $ 59,383 $ 1,385 Counterparty netting (726 ) (840 ) Collateral posted (420 ) (544 ) Carrying value of derivative contracts – Other liabilities $ 16 $ 1
Components of Interest Expense	The following table summarizes the components of interest expense, including the location and amount of gains and losses on derivative instruments and related hedged items, as reported in our Consolidated Statements of Income: Three months ended June 30, 2021 2020 Interest expense on debt $ 389 $ 576 Interest expense on derivatives 66 109 Interest expense on debt and derivatives 455 685 Losses on debt denominated in foreign currencies 10 548 Losses (gains) on foreign currency swaps 25 (593 ) Gains on U.S. dollar interest rate swaps (204 ) (92 ) Total interest expense $ 286 $ 548

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	3 Months Ended
Debt and Credit Facilities (Tables)	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt and Related Weighted Average Contractual Interest Rates	Debt and the related weighted average contractual interest rates are summarized as follows: June 30, 2021 March 31, 2021 Face value Carrying value Weighted average contractual interest rates Face value Carrying value Weighted average contractual interest rates Unsecured notes and loans payable 84,483 84,233 1.21 % 85,759 85,513 1.31 % Secured notes and loans payable 24,951 24,900 1.15 % 24,256 24,212 1.29 % Total debt $ 109,434 $ 109,133 1.20 % $ 110,015 $ 109,725 1.31 %

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
Variable Interest Entities (Tables)	Jun. 30, 2021
Variable Interest Entities [Abstract]
Schedule of Assets and Liabilities related to Variable Interest Entities Securitization Transactions	The following tables show the assets and liabilities related to our VIE securitization transactions that were included on our Consolidated Balance Sheets: June 30, 2021 VIE Assets VIE Liabilities Net Restricted cash securitized assets Other assets Debt Other liabilities Retail finance receivables $ 1,344 $ 21,097 $ 45 $ 18,819 $ 7 Investments in operating leases 504 8,585 13 6,081 1 Total $ 1,848 $ 29,682 $ 58 $ 24,900 $ 8 March 31, 2021 VIE Assets VIE Liabilities Net Restricted cash securitized assets Other assets Debt Other liabilities Retail finance receivables $ 1,521 $ 21,745 $ 46 $ 19,665 $ 13 Investments in operating leases 436 6,599 43 4,547 1 Total $ 1,957 $ 28,344 $ 89 $ 24,212 $ 14

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Guarantees	We have entered into certain commitments and guarantees for which the maximum unfunded amounts are summarized in the table below: June 30, March 31, 2021 2021 Commitments: Credit facilities commitments with dealers $ 2,967 $ 2,338 Commitments under operating lease agreements 132 141 Total commitments 3,099 2,479 Guarantees of affiliate pollution control and solid waste disposal bonds 100 100 Total commitments and guarantees $ 3,199 $ 2,579
Summary of Commitments under Operating Lease Agreements	Our commitments under operating lease agreements are summarized below: June 30, Years ending March 31, 2021 2022 $ 16 2023 18 2024 16 2025 13 2026 12 Thereafter 57 Total $ 132 Present value discount (15 ) Total operating lease liability $ 117
Summary of Additional Information Related to Operating Lease Agreements	The following table provides additional information related to operating lease agreements for which we are the lessee: June 30, 2021 ROU assets $ 107 Weighted average remaining lease term (in years) 8.7 Weighted average discount rate 2.77 % Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities - operating cash flows $ 10

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions Included in Consolidated Statements of Income	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 June 30, 2021 2020 Net financing revenues: Manufacturer's subvention and other revenues $ 479 $ 499 Depreciation on operating leases $ (28 ) $ (23 ) Interest expense: Credit support fees, interest and other expenses $ 24 $ 38 Voluntary protection contract revenues and insurance earned premiums: Voluntary protection contract revenues and insurance earned premiums $ 42 $ 44 Investment and other income, net: Interest and other income $ 3 $ 8 Expenses: Operating and administrative expenses $ 21 $ 20
Related Party Transactions Included in Consolidated Balance Sheets	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: June 30, March 31, 2021 2021 Assets: Cash and cash equivalents Commercial paper $ 2 $ 6 Investments in marketable securities Commercial paper $ 43 $ 196 Finance receivables, net Accounts receivable $ 116 $ 140 Deferred retail subvention income $ (1,102 ) $ (1,156 ) Investments in operating leases, net Investments in operating leases, net $ (240 ) $ (236 ) Deferred lease subvention income $ (1,477 ) $ (1,528 ) Other assets Notes receivable $ 869 $ 869 Other receivables, net $ 84 $ 83 Liabilities: Other liabilities Unearned voluntary protection contract revenues and insurance earned premiums $ 363 $ 352 Other payables, net $ 183 $ 306 Notes payable $ 26 $ 19

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables summarize our financial assets and financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy except for certain investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient and are excluded from the leveling information provided in the tables below. Fair value amounts presented below are intended to permit reconciliation of the fair value hierarchy to the amounts presented in our Consolidated Balance Sheets. June 30, 2021 Counterparty netting & Fair Level 1 Level 2 Level 3 collateral value Investments in marketable securities: Available-for-sale debt securities: U.S. government and agency obligations $ 419 $ 11 $ - $ - $ 430 Foreign government and agency obligations - 31 - - 31 Municipal debt securities - 8 3 - 11 Commercial paper - 43 - - 43 Corporate debt securities - 663 - - 663 Mortgage-backed securities: U.S. government agency - 28 - - 28 Non-agency residential - 9 4 - 13 Non-agency commercial - 70 3 - 73 Asset-backed securities - 63 17 - 80 Available-for-sale debt securities total 419 926 27 - 1,372 Equity investments: Fixed income mutual funds: Fixed income mutual funds measured at net asset value 1,111 Total return bond funds 1,415 - - - 1,415 Equity mutual funds 945 - - - 945 Equity investments total 2,360 - - - 3,471 Investments in marketable securities total 2,779 926 27 - 4,843 Derivative assets: Interest rate swaps - 1,041 - - 1,041 Foreign currency swaps - 348 - - 348 Counterparty netting and collateral - - - (1,335 ) (1,335 ) Derivative assets total - 1,389 - (1,335 ) 54 Assets at fair value 2,779 2,315 27 (1,335 ) 4,897 Derivative liabilities: Interest rate swaps - (880 ) - - (880 ) Foreign currency swaps - (282 ) - - (282 ) Counterparty netting and collateral - - - 1,146 1,146 Liabilities at fair value - (1,162 ) - 1,146 (16 ) Net assets at fair value $ 2,779 $ 1,153 $ 27 $ (189 ) $ 4,881 March 31, 2021 Counterparty netting & Fair Level 1 Level 2 Level 3 collateral value Investments in marketable securities: Available-for-sale debt securities: U.S. government and agency obligations $ 209 $ 2 $ - $ - $ 211 Municipal debt securities - 10 - - 10 Commercial paper 20 176 - - 196 Corporate debt securities - 187 - - 187 Mortgage-backed securities: U.S. government agency - 32 - - 32 Non-agency residential - - 1 - 1 Non-agency commercial - 5 42 - 47 Asset-backed securities - 19 33 - 52 Available-for-sale debt securities total 229 431 76 - 736 Equity investments: Fixed income mutual funds: Fixed income mutual funds measured at net asset value 772 Total return bond funds 2,429 - - - 2,429 Equity mutual funds 883 - - - 883 Equity investments total 3,312 - - - 4,084 Investments in marketable securities total 3,541 431 76 - 4,820 Derivative assets: Interest rate swaps - 1,026 - - 1,026 Foreign currency swaps - 330 - - 330 Counterparty netting and collateral - - - (1,302 ) (1,302 ) Derivative assets total - 1,356 - (1,302 ) 54 Assets at fair value 3,541 1,787 76 (1,302 ) 4,874 Derivative liabilities: Interest rate swaps - (1,142 ) - - (1,142 ) Foreign currency swaps - (243 ) - - (243 ) Counterparty netting and collateral - - - 1,384 1,384 Liabilities at fair value - (1,385 ) - 1,384 (1 ) Net assets at fair value $ 3,541 $ 402 $ 76 $ 82 $ 4,873
Financial Assets and Liabilities Not Carried at Fair Value on Recurring Basis on Consolidated Balance Sheets	The following tables provide information about assets and liabilities not carried at fair value on a recurring basis on our Consolidated Balance Sheets: June 30, 2021 Carrying Total Fair value Level 1 Level 2 Level 3 value Financial assets Finance receivables Retail loan $ 67,974 $ - $ - $ 71,323 $ 71,323 Wholesale 3,570 - - 3,591 3,591 Real estate 5,038 - - 5,149 5,149 Working capital 1,992 - - 1,959 1,959 Financial liabilities Unsecured notes and loans payable $ 84,233 $ - $ 85,562 $ 55 $ 85,617 Secured notes and loans payable 24,900 - - 25,169 25,169 March 31, 2021 Carrying Total Fair value Level 1 Level 2 Level 3 value Financial assets Finance receivables Retail loan $ 65,808 $ - $ - $ 69,007 $ 69,007 Wholesale 6,132 - - 6,158 6,158 Real estate 5,142 - - 5,224 5,224 Working capital 2,154 - - 2,171 2,171 Financial liabilities Unsecured notes and loans payable $ 85,513 $ - $ 86,205 $ 555 $ 86,760 Secured notes and loans payable 24,212 - - 24,478 24,478

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information for our reportable operating segments, which includes allocated corporate expenses, is summarized as follows: Three months ended June 30, 2021 Finance Voluntary protection Intercompany operations operations eliminations Total Total financing revenues $ 2,999 $ - $ - $ 2,999 Depreciation on operating leases 1,441 - - 1,441 Interest expense 286 - - 286 Net financing revenues 1,272 - - 1,272 Voluntary protection contract revenues and insurance earned premiums - 249 - 249 Investment and other income, net 19 137 - 156 Net financing and other revenues 1,291 386 - 1,677 Expenses: Provision for credit losses (3 ) - - (3 ) Operating and administrative expenses 292 92 - 384 Voluntary protection contract expenses and insurance losses - 108 - 108 Total expenses 289 200 - 489 Income before income taxes 1,002 186 - 1,188 Provision for income taxes 221 46 - 267 Net income $ 781 $ 140 $ - $ 921 Total assets at June 30, 2021 $ 128,015 $ 6,524 $ (138 ) $ 134,401 Note 13 – Segment Information (Continued) Three months ended June 30, 2020 Finance Voluntary protection Intercompany operations operations eliminations Total Total financing revenues $ 2,912 $ - $ - $ 2,912 Depreciation on operating leases 1,685 - - 1,685 Interest expense 548 - - 548 Net financing revenues 679 - - 679 Voluntary protection contract revenues and insurance earned premiums - 235 - 235 Investment and other income, net 32 144 - 176 Net financing and other revenues 711 379 - 1,090 Expenses: Provision for credit losses 183 - - 183 Operating and administrative expenses 256 89 - 345 Voluntary protection contract expenses and insurance losses - 75 - 75 Total expenses 439 164 - 603 Income before income taxes 272 215 - 487 Provision for income taxes 62 51 - 113 Net income $ 210 $ 164 $ - $ 374 Total assets at June 30, 2020 $ 129,065 $ 5,720 $ (42 ) $ 134,743

Interim Financial Data - Additi

Interim Financial Data - Additional Information (Details)	Apr. 01, 2021
ASU 2020-04 [Member]
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adoption date	Apr. 1, 2021
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle, accounting standards update, immaterial effect [true false]	true
ASU 2020-08 [Member]
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adoption date	Apr. 1, 2021
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle, accounting standards update, immaterial effect [true false]	true

Investments in Marketable Sec_3

Investments in Marketable Securities - Additional Information (Details)	3 Months Ended
	Jun. 30, 2021USD ($)
Marketable Securities [Abstract]
Fair value option elected	$ 724,000,000
Private placement share redemption percentage	1.00%
Private placement share redemption amount	$ 250,000
Share redemption period	90 days
Non-cash investing activities related to in-kind transactions	$ 1,100,000,000

Investments in Marketable Sec_4

Investments in Marketable Securities - Summary of Investments in Marketable Securities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	$ 1,341	$ 726
Available-for-sale debt securities, Unrealized gains	40	24
Available-for-sale debt securities, Unrealized losses	(9)	(14)
Available-for-sale debt securities, Fair value	1,372	736
Equity investments, Fair value	3,471	4,084
Investments in marketable securities total	4,843	4,820
U.S. government and agency obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	430	217
Available-for-sale debt securities, Unrealized gains	7	4
Available-for-sale debt securities, Unrealized losses	(7)	(10)
Available-for-sale debt securities, Fair value	430	211
Foreign government and agency obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	31
Available-for-sale debt securities, Unrealized gains	0
Available-for-sale debt securities, Unrealized losses	0
Available-for-sale debt securities, Fair value	31
Municipal debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	9	8
Available-for-sale debt securities, Unrealized gains	2	2
Available-for-sale debt securities, Unrealized losses	0	0
Available-for-sale debt securities, Fair value	11	10
Commercial paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	43	196
Available-for-sale debt securities, Unrealized gains	0	0
Available-for-sale debt securities, Unrealized losses	0	0
Available-for-sale debt securities, Fair value	43	196
Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	641	177
Available-for-sale debt securities, Unrealized gains	23	12
Available-for-sale debt securities, Unrealized losses	(1)	(2)
Available-for-sale debt securities, Fair value	663	187
U.S. government agency mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	27	31
Available-for-sale debt securities, Unrealized gains	1	1
Available-for-sale debt securities, Unrealized losses	0	0
Available-for-sale debt securities, Fair value	28	32
Non-agency residential mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	13	1
Available-for-sale debt securities, Unrealized gains	0	0
Available-for-sale debt securities, Unrealized losses	0	0
Available-for-sale debt securities, Fair value	13	1
Non-agency commercial mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	71	47
Available-for-sale debt securities, Unrealized gains	3	2
Available-for-sale debt securities, Unrealized losses	(1)	(2)
Available-for-sale debt securities, Fair value	73	47
Asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	76	49
Available-for-sale debt securities, Unrealized gains	4	3
Available-for-sale debt securities, Unrealized losses	0	0
Available-for-sale debt securities, Fair value	$ 80	$ 52

Investments in Marketable Sec_5

Investments in Marketable Securities - Schedule of Gains and Losses on Investments in Marketable Securities Presented in Our Consolidated Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Available-for-sale debt securities:
Unrealized gains for securities for which the fair value option was elected	$ 9	$ 0
Realized gains	0	14
Equity investments:
Unrealized gains	84	100
Realized gains on sales	$ 22	$ 11

Investments in Marketable Sec_6

Investments in Marketable Securities - Summary of Contractual Maturities of Available-for-Sale Debt Securities (Details) - USD ($) $ in Millions		Jun. 30, 2021	Mar. 31, 2021
Available-for-sale debt securities, Amortized cost
Due within 1 Year, Amortized cost		$ 147
Due after 1 Year through 5 Years, Amortized cost		467
Due after 5 Years through 10 Years, Amortized cost		316
Due after 10 Years, Amortized cost		224
Mortgage-backed and asset-backed securities, Amortized cost	[1]	187
Available-for-sale debt securities, Amortized cost		$ 1,341	$ 726
Debt Securities, Available-for-sale, Maturity Allocation [Extensible List]		us-gaap:DebtSecuritiesMaturityAllocationContractualMaturityMember
Available-for-sale debt securities, Fair value
Due within 1 Year, Fair value		$ 149
Due after 1 Year through 5 Years, Fair value		476
Due after 5 Years through 10 Years, Fair value		321
Due after 10 Years, Fair value		232
Mortgage-backed and asset-backed securities, Fair value	[1]	194
Total, Fair value		$ 1,372	$ 736
Debt Securities, Available-for-sale, Maturity Allocation [Extensible List]		us-gaap:DebtSecuritiesMaturityAllocationContractualMaturityMember

[1]	Mortgage-backed and asset-backed securities are shown separately from other maturity groupings as these securities have multiple maturity dates.

Finance Receivables, Net - Net

Finance Receivables, Net - Net Financing Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 79,647	$ 80,370
Allowance for credit losses	(1,147)	(1,178)
Finance receivables, net	78,500	79,192
Finance Receivables, Net [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	79,800	80,633
Deferred origination costs	1,207	1,145
Deferred income	(1,360)	(1,408)
Allowance for credit losses	(1,147)	(1,178)
Finance receivables, net	78,500	79,192
Finance Receivables, Net [Member] \| Retail receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	69,014	66,991
Finance Receivables, Net [Member] \| Dealer financing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	10,786	13,642
Allowance for credit losses	(95)	(103)
Finance Receivables, Net [Member] \| Retail and securitized retail receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ (1,052)	$ (1,075)

Finance Receivables, Net - Ne_2

Finance Receivables, Net - Net Financing Receivables (Parenthetical) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 79,647	$ 80,370
Finance Receivables, Net [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	79,800	80,633
Finance Receivables, Net [Member] \| Securitized retail receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 21,400	$ 22,100

Finance Receivables, Net - Addi

Finance Receivables, Net - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable accrued interest before allowance for credit loss	$ 193	$ 187
Retail Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable accrued interest before allowance for credit loss	171	160
Dealer Products [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable accrued interest before allowance for credit loss	$ 22	$ 27

Finance Receivables, Net - Sche

Finance Receivables, Net - Schedule of Amortized Cost Basis of Retail Loan Portfolio and Dealer Products Portfolio by Credit Quality Indicator (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	$ 575	$ 2,400
Year two, originated, fiscal year before current fiscal year	2,179	703
Year three, originated, two years before current fiscal year	613	805
Year four, originated, three years before current fiscal year	697	431
Year five, originated, four years before current fiscal year	400	455
Originated, more than five years before current fiscal year	2,040	1,804
Revolving loans	4,282	7,044
Total	10,786	13,642
Retail Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	9,178	32,228
Year two, originated, fiscal year before current fiscal year	30,104	16,249
Year three, originated, two years before current fiscal year	14,302	9,127
Year four, originated, three years before current fiscal year	7,869	6,090
Year five, originated, four years before current fiscal year	5,171	2,497
Originated, more than five years before current fiscal year	2,237	537
Total	68,861	66,728
Current [Member] \| Retail Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	9,157	32,026
Year two, originated, fiscal year before current fiscal year	29,795	16,047
Year three, originated, two years before current fiscal year	14,097	8,972
Year four, originated, three years before current fiscal year	7,720	5,977
Year five, originated, four years before current fiscal year	5,064	2,435
Originated, more than five years before current fiscal year	2,145	496
Total	67,978	65,953
30-59 Days Past Due [Member] \| Retail Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	21	147
Year two, originated, fiscal year before current fiscal year	220	145
Year three, originated, two years before current fiscal year	144	114
Year four, originated, three years before current fiscal year	106	83
Year five, originated, four years before current fiscal year	77	46
Originated, more than five years before current fiscal year	62	27
Total	630	562
60-89 Days Past Due [Member] \| Retail Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	37
Year two, originated, fiscal year before current fiscal year	65	39
Year three, originated, two years before current fiscal year	44	28
Year four, originated, three years before current fiscal year	31	21
Year five, originated, four years before current fiscal year	21	11
Originated, more than five years before current fiscal year	19	8
Total	180	144
90 Days or Greater Past Due [Member] \| Retail Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	18
Year two, originated, fiscal year before current fiscal year	24	18
Year three, originated, two years before current fiscal year	17	13
Year four, originated, three years before current fiscal year	12	9
Year five, originated, four years before current fiscal year	9	5
Originated, more than five years before current fiscal year	11	6
Total	73	69
Wholesale [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	0
Year two, originated, fiscal year before current fiscal year	0	0
Year three, originated, two years before current fiscal year	0	0
Year four, originated, three years before current fiscal year	0	0
Year five, originated, four years before current fiscal year	0	0
Originated, more than five years before current fiscal year	0	0
Revolving loans	3,580	6,157
Total	3,580	6,157
Wholesale [Member] \| Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	0
Year two, originated, fiscal year before current fiscal year	0	0
Year three, originated, two years before current fiscal year	0	0
Year four, originated, three years before current fiscal year	0	0
Year five, originated, four years before current fiscal year	0	0
Originated, more than five years before current fiscal year	0	0
Revolving loans	3,482	5,893
Total	3,482	5,893
Wholesale [Member] \| Credit Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	0
Year two, originated, fiscal year before current fiscal year	0	0
Year three, originated, two years before current fiscal year	0	0
Year four, originated, three years before current fiscal year	0	0
Year five, originated, four years before current fiscal year	0	0
Originated, more than five years before current fiscal year	0	0
Revolving loans	83	218
Total	83	218
Wholesale [Member] \| At Risk [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	0
Year two, originated, fiscal year before current fiscal year	0	0
Year three, originated, two years before current fiscal year	0	0
Year four, originated, three years before current fiscal year	0	0
Year five, originated, four years before current fiscal year	0	0
Originated, more than five years before current fiscal year	0	0
Revolving loans	15	35
Total	15	35
Wholesale [Member] \| Default [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	0
Year two, originated, fiscal year before current fiscal year	0	0
Year three, originated, two years before current fiscal year	0	0
Year four, originated, three years before current fiscal year	0	0
Year five, originated, four years before current fiscal year	0	0
Originated, more than five years before current fiscal year	0	0
Revolving loans	0	11
Total	0	11
Real estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	386	1,895
Year two, originated, fiscal year before current fiscal year	1,730	369
Year three, originated, two years before current fiscal year	328	599
Year four, originated, three years before current fiscal year	514	389
Year five, originated, four years before current fiscal year	362	342
Originated, more than five years before current fiscal year	1,774	1,609
Revolving loans	0	0
Total	5,094	5,203
Real estate [Member] \| Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	364	1,874
Year two, originated, fiscal year before current fiscal year	1,717	320
Year three, originated, two years before current fiscal year	280	596
Year four, originated, three years before current fiscal year	511	356
Year five, originated, four years before current fiscal year	357	312
Originated, more than five years before current fiscal year	1,650	1,493
Revolving loans	0	0
Total	4,879	4,951
Real estate [Member] \| Credit Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	8
Year two, originated, fiscal year before current fiscal year	0	49
Year three, originated, two years before current fiscal year	48	3
Year four, originated, three years before current fiscal year	3	20
Year five, originated, four years before current fiscal year	5	9
Originated, more than five years before current fiscal year	98	99
Revolving loans	0	0
Total	154	188
Real estate [Member] \| At Risk [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	9	13
Year two, originated, fiscal year before current fiscal year	13	0
Year three, originated, two years before current fiscal year	0	0
Year four, originated, three years before current fiscal year	0	0
Year five, originated, four years before current fiscal year	0	12
Originated, more than five years before current fiscal year	26	17
Revolving loans	0	0
Total	48	42
Real estate [Member] \| Default [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	13	0
Year two, originated, fiscal year before current fiscal year	0	0
Year three, originated, two years before current fiscal year	0	0
Year four, originated, three years before current fiscal year	0	13
Year five, originated, four years before current fiscal year	0	9
Originated, more than five years before current fiscal year	0	0
Revolving loans	0	0
Total	13	22
Working capital [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	189	505
Year two, originated, fiscal year before current fiscal year	449	334
Year three, originated, two years before current fiscal year	285	206
Year four, originated, three years before current fiscal year	183	42
Year five, originated, four years before current fiscal year	38	113
Originated, more than five years before current fiscal year	266	195
Revolving loans	702	887
Total	2,112	2,282
Working capital [Member] \| Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	171	503
Year two, originated, fiscal year before current fiscal year	447	334
Year three, originated, two years before current fiscal year	285	200
Year four, originated, three years before current fiscal year	177	41
Year five, originated, four years before current fiscal year	38	106
Originated, more than five years before current fiscal year	259	176
Revolving loans	702	878
Total	2,079	2,238
Working capital [Member] \| Credit Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	18	1
Year two, originated, fiscal year before current fiscal year	1	0
Year three, originated, two years before current fiscal year	0	6
Year four, originated, three years before current fiscal year	6	1
Year five, originated, four years before current fiscal year	0	0
Originated, more than five years before current fiscal year	0	19
Revolving loans	0	9
Total	25	36
Working capital [Member] \| At Risk [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	1
Year two, originated, fiscal year before current fiscal year	1	0
Year three, originated, two years before current fiscal year	0	0
Year four, originated, three years before current fiscal year	0	0
Year five, originated, four years before current fiscal year	0	7
Originated, more than five years before current fiscal year	7	0
Revolving loans	0	0
Total	8	8
Working capital [Member] \| Default [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	0
Year two, originated, fiscal year before current fiscal year	0	0
Year three, originated, two years before current fiscal year	0	0
Year four, originated, three years before current fiscal year	0	0
Year five, originated, four years before current fiscal year	0	0
Originated, more than five years before current fiscal year	0	0
Revolving loans	0	0
Total	$ 0	$ 0

Finance Receivables, Net - Agin

Finance Receivables, Net - Aging of Amortized Cost Basis of Finance Receivables by Class (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 883	$ 775
Current	78,764	79,595
Total Finance receivables	79,647	80,370
90 Days or greater past due and accruing	40	39
30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	630	562
60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	180	144
90 Days or Greater Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	73	69
Retail Loan [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	883	775
Current	67,978	65,953
Total Finance receivables	68,861	66,728
90 Days or greater past due and accruing	40	39
Retail Loan [Member] \| 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	630	562
Retail Loan [Member] \| 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	180	144
Retail Loan [Member] \| 90 Days or Greater Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	73	69
Wholesale [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Current	3,580	6,157
Total Finance receivables	3,580	6,157
90 Days or greater past due and accruing	0	0
Wholesale [Member] \| 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Wholesale [Member] \| 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Wholesale [Member] \| 90 Days or Greater Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Current	5,094	5,203
Total Finance receivables	5,094	5,203
90 Days or greater past due and accruing	0	0
Real estate [Member] \| 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate [Member] \| 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Real estate [Member] \| 90 Days or Greater Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Working capital [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Current	2,112	2,282
Total Finance receivables	2,112	2,282
90 Days or greater past due and accruing	0	0
Working capital [Member] \| 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Working capital [Member] \| 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Working capital [Member] \| 90 Days or Greater Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 0	$ 0

Allowance for Credit Losses - A

Allowance for Credit Losses - Allowance for Credit Losses and Finance Receivables by Portfolio Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Financing Receivable Allowance For Credit Losses [Line Items]
Provision for credit losses	$ (3)	$ 183
Finance Receivables, Net [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses at beginning of period	1,215	727
Charge-offs	(33)	(69)
Recoveries	17	10
Provision for credit losses	(3)	183
Allowance for credit losses at end of period	1,196	1,143
Finance Receivables, Net [Member] \| ASU 2016-13 [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Adoption of ASU 2016-13		292
Finance Receivables, Net [Member] \| Retail loan [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses at beginning of period	1,075	486
Charge-offs	(33)	(69)
Recoveries	17	9
Provision for credit losses	(7)	226
Allowance for credit losses at end of period	1,052	933
Finance Receivables, Net [Member] \| Retail loan [Member] \| ASU 2016-13 [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Adoption of ASU 2016-13		281
Finance Receivables, Net [Member] \| Dealer products [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses at beginning of period	140	241
Charge-offs	0	0
Recoveries	0	1
Provision for credit losses	4	(43)
Allowance for credit losses at end of period	$ 144	210
Finance Receivables, Net [Member] \| Dealer products [Member] \| ASU 2016-13 [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Adoption of ASU 2016-13		$ 11

Allowance for Credit Losses -_2

Allowance for Credit Losses - Allowance for Credit Losses and Finance Receivables by Portfolio Segment (Parenthetical) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020
Finance Receivables, Net [Member] \| Dealer Products [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses related to off-balance sheet commitments	$ 49	$ 39

Allowance for Credit Losses -_3

Allowance for Credit Losses - Additional Information (Details) - Finance Receivables, Net [Member] - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2021
Financing Receivable Allowance For Credit Losses [Line Items]
Increase in provision for credit losses	$ 416
ASU 2016-13 [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Increase in provision for credit losses	292
COVID-19 [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Increase in provision for expected credit losses	124
TMNA [Member] \| Financial Guarantee [Member] \| Dealer Products [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Ending Balance: collectively evaluated for impairment	989	$ 1,033
Private Toyota Distributors [Member] \| Financial Guarantee [Member] \| Dealer Products [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Ending Balance: collectively evaluated for impairment	$ 127	$ 171

Investments in Operating Leas_3

Investments in Operating Leases, Net - Investments in Operating Leases, Net (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Property Subject To Or Available For Operating Lease [Line Items]
Investments in operating leases, net	$ 37,784	$ 37,091
Investments in operating leases [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Investments in operating leases	48,692	48,337
Investments In Operating Leases, Net [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Deferred origination (fees) and costs, net	(72)	(101)
Deferred income	(1,790)	(1,759)
Accumulated depreciation	$ (9,046)	$ (9,386)

Investments in Operating Leas_4

Investments in Operating Leases, Net - Investments in Operating Leases, Net (Parenthetical) (Details) - USD ($) $ in Billions	Jun. 30, 2021	Mar. 31, 2021
Securitized investments in operating leases [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Investments in operating leases	$ 11.9	$ 9.3

Derivatives, Hedging Activiti_3

Derivatives, Hedging Activities and Interest Expense - Derivative Activity Impact on Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Other assets [Member]
Derivatives Fair Value [Line Items]
Notional	$ 56,123	$ 51,399
Fair value	1,389	1,356
Counterparty netting	(726)	(840)
Collateral held	(609)	(462)
Other assets [Member] \| Interest rate swaps [Member]
Derivatives Fair Value [Line Items]
Notional	48,706	44,125
Fair value	1,041	1,026
Other assets [Member] \| Foreign currency swaps [Member]
Derivatives Fair Value [Line Items]
Notional	7,417	7,274
Fair value	348	330
Other liabilities [Member]
Derivatives Fair Value [Line Items]
Notional	55,939	59,383
Fair value	1,162	1,385
Counterparty netting	(726)	(840)
Collateral posted	(420)	(544)
Other liabilities [Member] \| Interest rate swaps [Member]
Derivatives Fair Value [Line Items]
Notional	50,656	55,062
Fair value	880	1,142
Other liabilities [Member] \| Foreign currency swaps [Member]
Derivatives Fair Value [Line Items]
Notional	5,283	4,321
Fair value	282	243
Carrying value [Member] \| Other assets [Member]
Derivatives Fair Value [Line Items]
Carrying value of derivative contracts – Other assets	54	54
Carrying value [Member] \| Other liabilities [Member]
Derivatives Fair Value [Line Items]
Carrying value of derivative contracts – Other liabilities	$ 16	$ 1

Derivatives, Hedging Activiti_4

Derivatives, Hedging Activities and Interest Expense - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Collateral held in excess of the fair value of derivative assets	$ 19	$ 29
Initial margin and collateral posted in excess of the fair value of derivative liabilities	$ 2	$ 10

Derivatives, Hedging Activiti_5

Derivatives, Hedging Activities and Interest Expense - Components of Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments Gain Loss [Line Items]
Interest expense on debt	$ 389	$ 576
Interest expense on derivatives	66	109
Interest expense on debt and derivatives	455	685
Losses on debt denominated in foreign currencies	10	548
Losses (gains) on foreign currency swaps	25	(593)
Total interest expense	286	548
Interest Expense
Derivative Instruments Gain Loss [Line Items]
Gains on U.S. dollar interest rate swaps	$ (204)	$ (92)

Debt and Credit Facilities - De

Debt and Credit Facilities - Debt and Related Weighted Average Contractual Interest Rates (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Debt, Face value	$ 109,434	$ 110,015
Debt, Carrying value	$ 109,133	$ 109,725
Weighted average contractual interest rates	1.20%	1.31%
Unsecured notes and loans payable [Member]
Debt Instrument [Line Items]
Debt, Face value	$ 84,483	$ 85,759
Debt, Carrying value	$ 84,233	$ 85,513
Weighted average contractual interest rates	1.21%	1.31%
Secured notes and loans payable [Member]
Debt Instrument [Line Items]
Debt, Face value	$ 24,951	$ 24,256
Debt, Carrying value	$ 24,900	$ 24,212
Weighted average contractual interest rates	1.15%	1.29%

Debt and Credit Facilities - Ad

Debt and Credit Facilities - Additional Information (Details 1) - USD ($) $ in Billions	Jun. 30, 2021	Mar. 31, 2021
Debt Disclosure [Abstract]
Commercial paper outstanding	$ 17	$ 17

Debt and Credit Facilities - _2

Debt and Credit Facilities - Additional Information (Details) - USD ($)	Jun. 30, 2021	Mar. 31, 2021
364 Day Credit Agreement Expiring 2022 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 5,000,000,000
Credit facilities amount outstanding	0	$ 0
Three Year Agreement Expiring 2023 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	5,000,000,000
Credit facilities amount outstanding	0	0
Five Year Agreement Expiring 2025 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	5,000,000,000
Credit facilities amount outstanding	0	0
Revolving Securitization Facility [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	7,000,000,000
Credit facilities amount outstanding	2,700,000,000
Total Committed Bank Credit Facilities [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	4,400,000,000
Credit facilities amount outstanding	0	0
Committed Bank Credit Facility Expiring 2022 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	2,000,000,000
Committed Bank Credit Facility Expiring 2023 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	2,100,000,000
Committed Bank Credit Facility Expiring 2024 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	300,000,000
Three Year Revolving Credit Facility Expiring 2025 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	5,000,000,000
Credit facilities amount outstanding	$ 0	$ 0

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of Assets and Liabilities related to Variable Interest Entities Securitization Transactions (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Variable Interest Entity [Line Items]
Restricted cash	$ 3,322	$ 1,957
Net securitized assets	78,500	79,192
Other assets	2,535	2,473
Debt	109,133	109,725
Other liabilities	6,105	5,548
Other assets [Member]
Variable Interest Entity [Line Items]
Restricted cash	1,848	1,957
Net securitized assets	29,682	28,344
Other assets	58	89
Other liabilities [Member]
Variable Interest Entity [Line Items]
Debt	24,900	24,212
Other liabilities	8	14
Retail Finance Receivables [Member] \| Other assets [Member]
Variable Interest Entity [Line Items]
Restricted cash	1,344	1,521
Net securitized assets	21,097	21,745
Other assets	45	46
Retail Finance Receivables [Member] \| Other liabilities [Member]
Variable Interest Entity [Line Items]
Debt	18,819	19,665
Other liabilities	7	13
Investments In Operating Leases, Net [Member] \| Other assets [Member]
Variable Interest Entity [Line Items]
Restricted cash	504	436
Net securitized assets	8,585	6,599
Other assets	13	43
Investments In Operating Leases, Net [Member] \| Other liabilities [Member]
Variable Interest Entity [Line Items]
Debt	6,081	4,547
Other liabilities	$ 1	$ 1

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Variable Interest Entities [Abstract]
Securities retained by TMCC	$ 1,459	$ 1,409

Commitments and Contingencies -

Commitments and Contingencies - Commitments and Guarantees (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Commitments:
Credit facilities commitments with dealers	$ 2,967	$ 2,338
Commitments under operating lease agreements	132	141
Total commitments	3,099	2,479
Total commitments and guarantees	3,199	2,579
Performance Guarantee [Member] \| Putnam and Gibson Counties [Member]
Commitments:
Guarantees of affiliate pollution control and solid waste disposal bonds	$ 100	$ 100

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Details) - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Commitments And Contingencies [Line Items]
Commitments under operating lease agreements	$ 117,000,000
Lease description	Lease terms may contain renewal and extension options or early termination features. Generally, these options do not impact the lease term because TMCC is not reasonably certain that it will exercise the options. These lease agreements do not impose restrictions on our ability to pay dividends, engage in debt or equity financing transactions or enter into further lease agreements, nor do they have residual value guarantees. We exclude from our Consolidated Balance Sheets leases with a term equal to one year or less and do not separate non-lease components from our real estate leases.
Indemnification provisions	$ 0		$ 0
Putnam and Gibson Counties [Member] \| Performance Guarantee [Member]
Commitments And Contingencies [Line Items]
Guarantees of affiliate pollution control and solid waste disposal bonds	$ 100,000,000		100,000,000
TMNA [Member]
Commitments And Contingencies [Line Items]
Lease agreement expiration date	2032-08
Total operating lease expense, including payments to affiliates	$ 8,000,000	$ 9,000,000
TMCC-affiliated companies [Member]
Commitments And Contingencies [Line Items]
Commitments under operating lease agreements	91,000,000		$ 93,000,000
TMCC-affiliated companies [Member] \| Putnam and Gibson Counties [Member] \| Performance Guarantee [Member]
Commitments And Contingencies [Line Items]
Guarantees of affiliate pollution control and solid waste disposal bonds	100,000,000
TMCC-affiliated companies [Member] \| Putnam and Gibson Counties [Member] \| Performance Guarantee [Member] \| 2028 [Member]
Commitments And Contingencies [Line Items]
Guarantees of affiliate pollution control and solid waste disposal bonds	20,000,000
TMCC-affiliated companies [Member] \| Putnam and Gibson Counties [Member] \| Performance Guarantee [Member] \| 2029 [Member]
Commitments And Contingencies [Line Items]
Guarantees of affiliate pollution control and solid waste disposal bonds	50,000,000
TMCC-affiliated companies [Member] \| Putnam and Gibson Counties [Member] \| Performance Guarantee [Member] \| 2030 [Member]
Commitments And Contingencies [Line Items]
Guarantees of affiliate pollution control and solid waste disposal bonds	10,000,000
TMCC-affiliated companies [Member] \| Putnam and Gibson Counties [Member] \| Performance Guarantee [Member] \| 2031 [Member]
Commitments And Contingencies [Line Items]
Guarantees of affiliate pollution control and solid waste disposal bonds	10,000,000
TMCC-affiliated companies [Member] \| Putnam and Gibson Counties [Member] \| Performance Guarantee [Member] \| 2032 [Member]
Commitments And Contingencies [Line Items]
Guarantees of affiliate pollution control and solid waste disposal bonds	$ 10,000,000

Commitments and Contingencies_3

Commitments and Contingencies - Summary of Commitments under Operating Lease Agreements (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Amounts due on operating lease liabilities
Remainder of fiscal year	$ 16
Year 1	18
Year 2	16
Year 3	13
Year 4	12
Year 4 after	57
Total	132	$ 141
Present value discount	(15)
Total operating lease liability	$ 117

Commitments and Contingencies_4

Commitments and Contingencies - Summary of Additional Information Related to Operating Lease Agreements (Details) $ in Millions	3 Months Ended
	Jun. 30, 2021USD ($)
Commitments And Contingencies Disclosure [Abstract]
ROU assets	$ 107
Weighted average remaining lease term (in years)	8 years 8 months 12 days
Weighted average discount rate	2.77%
Cash paid for amounts included in the measurement of lease liabilities - operating cash flows	$ 10

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 267	$ 113
Effective tax rate	22.00%	23.00%
Net deferred income tax liability	$ 2,600		$ 2,900

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	Aug. 05, 2021	Apr. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Related Party Transaction [Line Items]
Subvention support receivable			$ 138	$ 184
Toyota Finance New Zealand Limited [Member] \| Financing Support to Affiliates [Member]
Related Party Transaction [Line Items]
Increase in financing support available to affiliates		$ 250
Toyota Financial Savings Bank [Member] \| Financing Support to Affiliates [Member] \| Subsequent Event [Member]
Related Party Transaction [Line Items]
Increase in financing support available to affiliates	$ 1,000

Related Party Transactions - Re

Related Party Transactions - Related Party Transactions Included in Consolidated Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net financing revenues:
Depreciation on operating leases	$ (1,441)	$ (1,685)
Voluntary protection contract revenues and insurance earned premiums:
Voluntary protection contract revenues and insurance earned premiums	249	235
Expenses:
Operating and administrative expenses	384	345
TMCC-affiliated companies [Member]
Net financing revenues:
Manufacturer's subvention and other revenues	479	499
Depreciation on operating leases	(28)	(23)
Interest expense:
Credit support fees, interest and other expenses	24	38
Voluntary protection contract revenues and insurance earned premiums:
Voluntary protection contract revenues and insurance earned premiums	42	44
Investment and other income, net:
Interest and other income	3	8
Expenses:
Operating and administrative expenses	$ 21	$ 20

Related Party Transactions - _2

Related Party Transactions - Related Party Transactions Included in Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Cash and cash equivalents
Cash and cash equivalents	$ 7,417	$ 8,195
TMCC-affiliated companies [Member]
Investments in marketable securities
Commercial paper	43	196
Finance receivables, net
Accounts receivable	116	140
Deferred retail subvention income	(1,102)	(1,156)
Investments in operating leases, net
Investments in operating leases, net	(240)	(236)
Deferred lease subvention income	(1,477)	(1,528)
Other assets
Notes receivable	869	869
Other receivables, net	84	83
Other liabilities
Unearned voluntary protection contract revenues and insurance earned premiums	363	352
Other payables, net	183	306
Notes payable	26	19
Commercial paper [Member] \| TMCC-affiliated companies [Member]
Cash and cash equivalents
Cash and cash equivalents	$ 2	$ 6

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	$ 1,372	$ 736
Equity investments	3,471	4,084
Investments in marketable securities total	4,843	4,820
Foreign government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	31
U.S. government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	430	211
Municipal debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	11	10
Corporate debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	663	187
U.S. government agency mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	28	32
Non-agency residential mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	13	1
Non-agency commercial mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	73	47
Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	80	52
Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	1,372	736
Equity investments	3,471	4,084
Investments in marketable securities total	4,843	4,820
Derivative assets	54	54
Counterparty netting and collateral	(1,335)	(1,302)
Assets at fair value	4,897	4,874
Counterparty netting and collateral	1,146	1,384
Liabilities at fair value	(16)	(1)
Net assets at fair value	4,881	4,873
Recurring [Member] \| Commercial paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	43	196
Recurring [Member] \| Foreign government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	31
Recurring [Member] \| U.S. government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	430	211
Recurring [Member] \| Municipal debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	11	10
Recurring [Member] \| Corporate debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	663	187
Recurring [Member] \| U.S. government agency mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	28	32
Recurring [Member] \| Non-agency residential mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	13	1
Recurring [Member] \| Non-agency commercial mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	73	47
Recurring [Member] \| Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	80	52
Recurring [Member] \| Fixed income total return bond funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	1,415	2,429
Recurring [Member] \| Equity mutual funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	945	883
Recurring [Member] \| Counterparty Netting & Collateral [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Equity investments	0	0
Investments in marketable securities total	0	0
Derivative assets	(1,335)	(1,302)
Counterparty netting and collateral	(1,335)	(1,302)
Assets at fair value	(1,335)	(1,302)
Counterparty netting and collateral	1,146	1,384
Liabilities at fair value	1,146	1,384
Net assets at fair value	(189)	82
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| Commercial paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| Foreign government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| U.S. government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| Municipal debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| Corporate debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| U.S. government agency mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| Non-agency residential mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| Non-agency commercial mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| Fixed income total return bond funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	0	0
Recurring [Member] \| Counterparty Netting & Collateral [Member] \| Equity mutual funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	0	0
Recurring [Member] \| Foreign currency swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	348	330
Derivative liabilities	(282)	(243)
Recurring [Member] \| Foreign currency swaps [Member] \| Counterparty Netting & Collateral [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Recurring [Member] \| Interest rate swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	1,041	1,026
Derivative liabilities	(880)	(1,142)
Recurring [Member] \| Interest rate swaps [Member] \| Counterparty Netting & Collateral [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Recurring [Member] \| Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	419	229
Equity investments	2,360	3,312
Investments in marketable securities total	2,779	3,541
Derivative assets	0	0
Counterparty netting and collateral	0	0
Assets at fair value	2,779	3,541
Counterparty netting and collateral	0	0
Liabilities at fair value	0	0
Net assets at fair value	2,779	3,541
Recurring [Member] \| Level 1 [Member] \| Commercial paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	20
Recurring [Member] \| Level 1 [Member] \| Foreign government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0
Recurring [Member] \| Level 1 [Member] \| U.S. government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	419	209
Recurring [Member] \| Level 1 [Member] \| Municipal debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Level 1 [Member] \| Corporate debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Level 1 [Member] \| U.S. government agency mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Level 1 [Member] \| Non-agency residential mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Level 1 [Member] \| Non-agency commercial mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Level 1 [Member] \| Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Level 1 [Member] \| Fixed income total return bond funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	1,415	2,429
Recurring [Member] \| Level 1 [Member] \| Equity mutual funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	945	883
Recurring [Member] \| Level 1 [Member] \| Foreign currency swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Recurring [Member] \| Level 1 [Member] \| Interest rate swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Recurring [Member] \| Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	926	431
Equity investments	0	0
Investments in marketable securities total	926	431
Derivative assets	1,389	1,356
Counterparty netting and collateral	0	0
Assets at fair value	2,315	1,787
Counterparty netting and collateral	0	0
Liabilities at fair value	(1,162)	(1,385)
Net assets at fair value	1,153	402
Recurring [Member] \| Level 2 [Member] \| Commercial paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	43	176
Recurring [Member] \| Level 2 [Member] \| Foreign government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	31
Recurring [Member] \| Level 2 [Member] \| U.S. government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	11	2
Recurring [Member] \| Level 2 [Member] \| Municipal debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	8	10
Recurring [Member] \| Level 2 [Member] \| Corporate debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	663	187
Recurring [Member] \| Level 2 [Member] \| U.S. government agency mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	28	32
Recurring [Member] \| Level 2 [Member] \| Non-agency residential mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	9	0
Recurring [Member] \| Level 2 [Member] \| Non-agency commercial mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	70	5
Recurring [Member] \| Level 2 [Member] \| Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	63	19
Recurring [Member] \| Level 2 [Member] \| Fixed income total return bond funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	0	0
Recurring [Member] \| Level 2 [Member] \| Equity mutual funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	0	0
Recurring [Member] \| Level 2 [Member] \| Foreign currency swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	348	330
Derivative liabilities	(282)	(243)
Recurring [Member] \| Level 2 [Member] \| Interest rate swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	1,041	1,026
Derivative liabilities	(880)	(1,142)
Recurring [Member] \| Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	27	76
Equity investments	0	0
Investments in marketable securities total	27	76
Derivative assets	0	0
Counterparty netting and collateral	0	0
Assets at fair value	27	76
Counterparty netting and collateral	0	0
Liabilities at fair value	0	0
Net assets at fair value	27	76
Recurring [Member] \| Level 3 [Member] \| Commercial paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Level 3 [Member] \| Foreign government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0
Recurring [Member] \| Level 3 [Member] \| U.S. government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Level 3 [Member] \| Municipal debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	3	0
Recurring [Member] \| Level 3 [Member] \| Corporate debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Level 3 [Member] \| U.S. government agency mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	0	0
Recurring [Member] \| Level 3 [Member] \| Non-agency residential mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	4	1
Recurring [Member] \| Level 3 [Member] \| Non-agency commercial mortgage-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	3	42
Recurring [Member] \| Level 3 [Member] \| Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	17	33
Recurring [Member] \| Level 3 [Member] \| Fixed income total return bond funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	0	0
Recurring [Member] \| Level 3 [Member] \| Equity mutual funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	0	0
Recurring [Member] \| Level 3 [Member] \| Foreign currency swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Recurring [Member] \| Level 3 [Member] \| Interest rate swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Recurring [Member] \| Fixed income mutual funds measured at net asset value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	1,111	772
Recurring [Member] \| Fixed income mutual funds measured at net asset value [Member] \| Counterparty Netting & Collateral [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	$ 0	$ 0

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Not Carried at Fair Value on Recurring Basis on Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Unsecured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	$ 84,233
Secured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	24,900
Fair value [Member] \| Unsecured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	85,617	$ 86,760
Fair value [Member] \| Secured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	25,169	24,478
Fair value [Member] \| Level 1 [Member] \| Unsecured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	0	0
Fair value [Member] \| Level 1 [Member] \| Secured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	0	0
Fair value [Member] \| Level 2 [Member] \| Unsecured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	85,562	86,205
Fair value [Member] \| Level 2 [Member] \| Secured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	0	0
Fair value [Member] \| Level 3 [Member] \| Unsecured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	55	555
Fair value [Member] \| Level 3 [Member] \| Secured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	25,169	24,478
Carrying value [Member] \| Unsecured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities		85,513
Carrying value [Member] \| Secured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities		24,212
Retail Loan [Member]
Financial assets
Finance receivables, net	67,974
Retail Loan [Member] \| Fair value [Member]
Financial assets
Finance receivables, net	71,323	69,007
Retail Loan [Member] \| Fair value [Member] \| Level 1 [Member]
Financial assets
Finance receivables, net	0	0
Retail Loan [Member] \| Fair value [Member] \| Level 2 [Member]
Financial assets
Finance receivables, net	0	0
Retail Loan [Member] \| Fair value [Member] \| Level 3 [Member]
Financial assets
Finance receivables, net	71,323	69,007
Retail Loan [Member] \| Carrying value [Member]
Financial assets
Finance receivables, net		65,808
Wholesale [Member]
Financial assets
Finance receivables, net	3,570
Wholesale [Member] \| Fair value [Member]
Financial assets
Finance receivables, net	3,591	6,158
Wholesale [Member] \| Fair value [Member] \| Level 1 [Member]
Financial assets
Finance receivables, net	0	0
Wholesale [Member] \| Fair value [Member] \| Level 2 [Member]
Financial assets
Finance receivables, net	0	0
Wholesale [Member] \| Fair value [Member] \| Level 3 [Member]
Financial assets
Finance receivables, net	3,591	6,158
Wholesale [Member] \| Carrying value [Member]
Financial assets
Finance receivables, net		6,132
Real estate [Member]
Financial assets
Finance receivables, net	5,038
Real estate [Member] \| Fair value [Member]
Financial assets
Finance receivables, net	5,149	5,224
Real estate [Member] \| Fair value [Member] \| Level 1 [Member]
Financial assets
Finance receivables, net	0	0
Real estate [Member] \| Fair value [Member] \| Level 2 [Member]
Financial assets
Finance receivables, net	0	0
Real estate [Member] \| Fair value [Member] \| Level 3 [Member]
Financial assets
Finance receivables, net	5,149	5,224
Real estate [Member] \| Carrying value [Member]
Financial assets
Finance receivables, net		5,142
Working capital [Member]
Financial assets
Finance receivables, net	1,992
Working capital [Member] \| Fair value [Member]
Financial assets
Finance receivables, net	1,959	2,171
Working capital [Member] \| Fair value [Member] \| Level 1 [Member]
Financial assets
Finance receivables, net	0	0
Working capital [Member] \| Fair value [Member] \| Level 2 [Member]
Financial assets
Finance receivables, net	0	0
Working capital [Member] \| Fair value [Member] \| Level 3 [Member]
Financial assets
Finance receivables, net	$ 1,959	2,171
Working capital [Member] \| Carrying value [Member]
Financial assets
Finance receivables, net		$ 2,154

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Finance receivables from related party	$ 116	$ 140

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total financing revenues	$ 2,999	$ 2,912
Depreciation on operating leases	1,441	1,685
Interest expense	286	548
Net financing revenues	1,272	679
Voluntary protection contract revenues and insurance earned premiums	249	235
Investment and other income, net	156	176
Net financing revenues and other revenues	1,677	1,090
Expenses:
Provision for credit losses	(3)	183
Operating and administrative expenses	384	345
Voluntary protection contract expenses and insurance losses	108	75
Total expenses	489	603
Income before income taxes	1,188	487
Provision for income taxes	267	113
Net income	921	374
Total assets	134,401	134,743	$ 133,728
Intercompany Eliminations [Member]
Segment Reporting Information [Line Items]
Total financing revenues	0	0
Depreciation on operating leases	0	0
Interest expense	0	0
Net financing revenues	0	0
Voluntary protection contract revenues and insurance earned premiums	0	0
Investment and other income, net	0	0
Net financing revenues and other revenues	0	0
Expenses:
Provision for credit losses	0	0
Operating and administrative expenses	0	0
Voluntary protection contract expenses and insurance losses	0	0
Total expenses	0	0
Income before income taxes	0	0
Provision for income taxes	0	0
Net income	0	0
Total assets	(138)	(42)
Finance Operations [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total financing revenues	2,999	2,912
Depreciation on operating leases	1,441	1,685
Interest expense	286	548
Net financing revenues	1,272	679
Voluntary protection contract revenues and insurance earned premiums	0	0
Investment and other income, net	19	32
Net financing revenues and other revenues	1,291	711
Expenses:
Provision for credit losses	(3)	183
Operating and administrative expenses	292	256
Voluntary protection contract expenses and insurance losses	0	0
Total expenses	289	439
Income before income taxes	1,002	272
Provision for income taxes	221	62
Net income	781	210
Total assets	128,015	129,065
Voluntary Protection Operations [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total financing revenues	0	0
Depreciation on operating leases	0	0
Interest expense	0	0
Net financing revenues	0	0
Voluntary protection contract revenues and insurance earned premiums	249	235
Investment and other income, net	137	144
Net financing revenues and other revenues	386	379
Expenses:
Provision for credit losses	0	0
Operating and administrative expenses	92	89
Voluntary protection contract expenses and insurance losses	108	75
Total expenses	200	164
Income before income taxes	186	215
Provision for income taxes	46	51
Net income	140	164
Total assets	$ 6,524	$ 5,720

Segment Information - Additiona

Segment Information - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Unearned voluntary protection contract revenues		$ 2,300
Unearned amounts in voluntary protection contract revenues, recognized	$ 192	$ 188
Other liabilities [Member]
Segment Reporting Information [Line Items]
Unearned voluntary protection contract revenues	$ 2,500		$ 2,500	$ 2,400
Accounting Standards Update 2014-09 [Member]
Segment Reporting Information [Line Items]
Percentage of voluntary protection contract revenues	82.00%	83.00%

Segment Information - Additio_2

Segment Information - Additional Information (Details1) $ in Millions	Jun. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-07-01
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation, amount	$ 558
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-01
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation, amount	$ 1,900
Revenue, remaining performance obligation, expected timing of satisfaction, period