Toyota Motor Credit (TM/28) 10-Q5 Aug 222023 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, 2022	Jul. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2022
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	2023
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, 2022	Jun. 30, 2021
Financing revenues:
Operating lease	$ 1,900	$ 2,120
Retail	845	791
Dealer	86	88
Total financing revenues	2,831	2,999
Depreciation on operating leases	1,409	1,441
Interest expense	563	286
Net financing revenues	859	1,272
Voluntary protection contract revenues and insurance earned premiums	259	249
Investment and other (loss) income, net	(306)	156
Net financing revenues and other revenues	812	1,677
Expenses:
Provision for credit losses	78	(3)
Operating and administrative	406	384
Voluntary protection contract expenses and insurance losses	107	108
Total expenses	591	489
Income before income taxes	221	1,188
Provision for income taxes	51	267
Net income	$ 170	$ 921

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 170	$ 921
Other comprehensive income, net of tax
Net unrealized (losses) gains on available-for-sale marketable securities [net of tax benefit (provision) of $7 and ($3), respectively]	(26)	9
Other comprehensive (loss) income	(26)	9
Comprehensive income	$ 144	$ 930

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net unrealized gains on available-for-sale marketable securities, tax benefit (provision)	$ 7	$ (3)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
ASSETS
Cash and cash equivalents	$ 8,717	$ 7,670
Restricted cash and cash equivalents	1,849	2,065
Investments in marketable securities	4,571	4,953
Finance receivables, net of allowance for credit losses of $1,248 and $1,246	84,822	82,432
Investments in operating leases, net	33,703	35,455
Other assets	2,470	2,466
Total assets	136,132	135,041
LIABILITIES AND SHAREHOLDER’S EQUITY
Debt	110,423	109,152
Deferred income taxes	1,403	1,564
Other liabilities	6,061	6,224
Total liabilities	117,887	116,940
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, 2022 and March 31, 2022	915	915
Additional paid-in capital	2	2
Accumulated other comprehensive loss	(47)	(21)
Retained earnings	17,375	17,205
Total shareholder's equity	18,245	18,101
Total liabilities and shareholder's equity	$ 136,132	$ 135,041

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Statement Of Financial Position [Abstract]
Finance receivables, allowance for credit losses	$ 1,248	$ 1,246
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, 2022	Mar. 31, 2022
ASSETS
Finance receivables, net	$ 84,822	$ 82,432
Investments in operating leases, net	33,703	35,455
Other assets	2,470	2,466
Total assets	136,132	135,041
LIABILITIES
Debt	110,423	109,152
Other liabilities	6,061	6,224
Total liabilities	117,887	116,940
Variable Interest Entity, Primary Beneficiary
ASSETS
Finance receivables, net	24,009	20,932
Investments in operating leases, net	11,358	11,886
Other assets	71	66
Total assets	35,438	32,884
LIABILITIES
Debt	28,882	26,864
Other liabilities	14	10
Total liabilities	$ 28,896	$ 26,874

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity - USD ($) $ in Millions	Total	Capital stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Retained earnings
Balance at Mar. 31, 2021	$ 15,595	$ 915	$ 2	$ 8	$ 14,670
Net income	921	0	0	0	921
Other comprehensive income (loss), net of tax	9	0	0	9	0
Balance at Jun. 30, 2021	16,525	915	2	17	15,591
Balance at Mar. 31, 2022	18,101	915	2	(21)	17,205
Net income	170	0	0	0	170
Other comprehensive income (loss), net of tax	(26)	0	0	(26)	0
Balance at Jun. 30, 2022	$ 18,245	$ 915	$ 2	$ (47)	$ 17,375

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 170	$ 921
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,432	1,471
Recognition of deferred income	(505)	(631)
Provision for credit losses	78	(3)
Amortization of deferred costs	264	238
Foreign currency and other adjustments to the carrying value of financial instruments, net	(527)	26
Net losses (gains) from investments in marketable securities	366	(115)
Net change in:
Derivative assets	9	0
Other assets and accrued interest	(150)	(182)
Deferred income taxes	(154)	(225)
Derivative liabilities	(25)	15
Other liabilities	(128)	509
Net cash provided by operating activities	830	2,024
Cash flows from investing activities:
Purchase of investments in marketable securities	(507)	(614)
Proceeds from sales of investments in marketable securities	475	509
Proceeds from maturities of investments in marketable securities	13	200
Acquisition of finance receivables	(10,790)	(10,509)
Collection of finance receivables	8,651	8,506
Net change in wholesale and certain working capital receivables	(368)	2,775
Acquisition of investments in operating leases	(2,408)	(5,248)
Disposals of investments in operating leases	3,011	3,568
Long term loans to affiliates	0	(100)
Payments on long term loans from affiliates	100	100
Net change in financing support provided to affiliates	26	0
Other, net	(18)	(13)
Net cash used in investing activities	(1,815)	(826)
Cash flows from financing activities:
Proceeds from issuance of debt	8,602	10,242
Payments on debt	(6,912)	(11,074)
Net change in commercial paper and other short-term financing	118	214
Net change in financing support provided by affiliates	8	7
Net cash provided by (used in) financing activities	1,816	(611)
Net increase in cash and cash equivalents and restricted cash and cash equivalents	831	587
Cash and cash equivalents and restricted cash and cash equivalents at the beginning of the period	9,735	10,152
Cash and cash equivalents and restricted cash and cash equivalents at the end of the period	10,566	10,739
Supplemental disclosures:
Interest paid, net	329	485
Income taxes paid, net	$ 414	$ 55

Interim Financial Data

Interim Financial Data	3 Months Ended
Interim Financial Data	Jun. 30, 2022
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, 2022 and 2021 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, 2022, do not necessarily indicate the results which may be expected for the full fiscal year ending March 31, 2023 (“fiscal 2023”). 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, 2022 (“fiscal 2022”), which was filed with the Securities and Exchange Commission on June 3, 2022. 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, we announced the restructuring of our customer service operations to better serve our customers by relocating and streamlining the customer service operation and investing in new technology. The restructuring is in progress, and we plan to complete the process of moving our three regional CSCs to be co-located with the regional DSCs to become regional experience centers by the end of fiscal 2023. Costs associated with this restructure are not expected to be significant. In fiscal 2022, TMCC announced, in furtherance of its private label financial services initiative for third party automotive and mobility companies, that we entered into a nonbinding letter of intent with Great American Outdoors Group LLC, the parent company of Bass Pro Shops, Cabela’s and the White River Marine Group (“Bass Pro Shops”) to provide private label financial services for Bass Pro Shop’s boats, all-terrain vehicle products, and other mobility products. The Company began to provide inventory financing for Bass Pro Shops, its affiliates, and authorized independent dealers in fiscal 2023, with additional private label services, including consumer financing and voluntary protection products and services, to be added over time. We are leveraging our existing processes and personnel to originate and service the new assets, and we expect to make certain technology investments to support the Bass Pro Shops program. We did not acquire any existing Bass Pro Shops assets or liabilities pursuant to the agreement, and we do not expect launch costs to be significant. Recently Adopted Accounting Guidance On April 1, 2022, we adopted ASU 2021-05, Lessors-Certain Leases with Variable Lease Payments (Topic 842) Accounting Guidance Issued But Not Yet Adopted In March 2022, the FASB issued ASU 2022-02, Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures Financial Instruments – Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments

Investments in Marketable Secur

Investments in Marketable Securities	3 Months Ended
Investments in Marketable Securities	Jun. 30, 2022
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 the 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. Realized gains and losses from sales of AFS debt securities are determined using the specific identification method or first in first out method and are included in Investment and other income, net in our Consolidated Statements of Income. We 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 (loss) income, net in our Consolidated Statements of Income. As of June 30, 2022 and March 31, 2022, we held AFS debt securities for which the fair value option was elected of $606 million and $674 million, respectively. The difference between the aggregate fair value and the aggregate unpaid principal balance of AFS debt securities for which the fair value option was elected was an unrealized loss of $76 million and $41 million as of June 30, 2022 and March 31, 2022, respectively. All equity investments are recorded at fair value with changes in fair value included in Investment and other (loss) income, net in our Consolidated Statements of Income. Realized gains and losses from sales of equity investments are determined using the first in first out method and are included in Investment and other (loss) income, net in our Consolidated Statements of Income. Investments in marketable securities consisted of the following: June 30, 2022 Amortized Unrealized Unrealized Fair cost gains losses value Available-for-sale debt securities: U.S. government and agency obligations $ 574 $ 1 $ (51 ) $ 524 Foreign government and agency obligations 19 - (4 ) 15 Municipal debt securities 9 1 (1 ) 9 Corporate debt securities 551 1 (70 ) 482 Mortgage-backed securities: U.S. government agency 24 - (1 ) 23 Non-agency residential 10 - (1 ) 9 Non-agency commercial 88 1 (6 ) 83 Asset-backed securities 78 - (6 ) 72 Total available-for-sale debt securities $ 1,353 $ 4 $ (140 ) $ 1,217 Equity investments 3,354 Total investments in marketable securities $ 4,571 Note 2 – Investments in Marketable Securities (Continued) March 31, 2022 Amortized Unrealized Unrealized Fair cost gains losses value Available-for-sale debt securities: U.S. government and agency obligations $ 538 $ - $ (29 ) $ 509 Foreign government and agency obligations 26 - (3 ) 23 Municipal debt securities 9 1 - 10 Corporate debt securities 598 4 (34 ) 568 Mortgage-backed securities: U.S. government agency 20 - - 20 Non-agency residential 11 - (1 ) 10 Non-agency commercial 88 1 (3 ) 86 Asset-backed securities 82 - (4 ) 78 Total available-for-sale debt securities $ 1,372 $ 6 $ (74 ) $ 1,304 Equity investments 3,649 Total investments in marketable securities $ 4,953 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, 2022, we had no non-cash investing activities related to in-kind redemptions. Non-cash investing activities related to in-kind redemptions and subsequent purchases amounted to $1.1 billion for the three months ended June 30, 2021. Unrealized Losses on Securities The continuous unrealized losses on AFS debt securities greater than twelve months were not significant as of June 30, 2022 and March 31, 2022, respectively. An allowance for credit losses is established when it is determined that a credit loss has occurred. As of June 30, 2022 and March 31, 2022, 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. Note 2 – Investments in Marketable Securities (Continued) 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, 2022 2021 Available-for-sale debt securities: Unrealized (losses) gains on securities for which the fair value option was elected $ (35 ) $ 9 Realized (losses) gains on sales $ (14 ) $ - Equity investments: Unrealized (losses) gains $ (307 ) $ 84 Realized (losses) gains on sales $ (10 ) $ 22 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, 2022 Amortized c Fair value Available-for-sale debt securities: Due within 1 year $ 66 $ 66 Due after 1 year through 5 years 364 345 Due after 5 years through 10 years 373 331 Due after 10 years 350 288 Mortgage-backed and asset-backed securities 1 200 187 Total $ 1,353 $ 1,217 1

Finance Receivables, Net

Finance Receivables, Net	3 Months Ended
Finance Receivables, Net	Jun. 30, 2022
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, 2022 2022 Retail receivables 1 $ 75,178 $ 73,152 Dealer financing 10,583 10,298 85,761 83,450 Deferred origination costs 1,364 1,330 Deferred income (1,055 ) (1,102 ) Allowance for credit losses Retail receivables (1,209 ) (1,195 ) Dealer financing (39 ) (51 ) Total allowance for credit losses (1,248 ) (1,246 ) Finance receivables, net $ 84,822 $ 82,432 1 Accrued interest related to finance receivables is presented in Other assets on the Consolidated Balance Sheets and was $226 million and $214 million at June 30, 2022 and March 31, 2022, 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 past due. The aging of finance receivables is updated monthly. The following tables present the amortized cost basis of our retail loan portfolio by origination fiscal year by credit quality indicator based on number of days past due: Amortized Cost Basis by Origination Fiscal Year at June 30, 2022 2023 2022 2021 2020 2019 2018 and Prior Total Aging of finance receivables: Current $ 9,695 $ 29,743 $ 19,682 $ 8,425 $ 4,007 $ 2,536 $ 74,088 30-59 days past due 17 345 302 143 91 81 979 60-89 days past due - 107 96 43 26 26 298 90 days or greater past due - 45 37 16 11 13 122 Total $ 9,712 $ 30,240 $ 20,117 $ 8,627 $ 4,135 $ 2,656 $ 75,487 Amortized Cost Basis by Origination Fiscal Year at March 31, 2022 2022 2021 2020 2019 2018 2017 and Prior Total Aging of finance receivables: Current $ 32,382 $ 21,917 $ 9,624 $ 4,774 $ 2,674 $ 718 $ 72,089 30-59 days past due 275 304 153 101 63 36 932 60-89 days past due 68 82 40 25 16 11 242 90 days or greater past due 33 39 17 13 8 7 117 Total $ 32,758 $ 22,342 $ 9,834 $ 4,913 $ 2,761 $ 772 $ 73,380 The amortized cost of retail loan portfolio excludes accrued interest of $201 million and $192 million at June 30, 2022 and March 31, 2022, respectively. The previous tables 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. 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 fiscal year: Amortized Cost Basis by Origination Fiscal Year at June 30, 2022 2023 2022 2021 2020 2019 2018 and Prior Revolving loans Total Wholesale Performing $ - $ - $ - $ - $ - $ - $ 2,979 $ 2,979 Credit Watch - - - - - - 13 13 At Risk - - - - - - - - Default - - - - - - - - Wholesale total $ - $ - $ - $ - $ - $ - $ 2,992 $ 2,992 Real estate Performing $ 270 $ 1,522 $ 1,217 $ 256 $ 378 $ 1,303 $ 35 $ 4,981 Credit Watch 5 - 1 - - - - 6 At Risk - - - - - - - - Default - - - - - - - - Real estate total $ 275 $ 1,522 $ 1,218 $ 256 $ 378 $ 1,303 $ 35 $ 4,987 Working Capital Performing $ 58 $ 643 $ 289 $ 182 $ 148 $ 200 $ 1,084 $ 2,604 Credit Watch - - - - - - - - At Risk - - - - - - - - Default - - - - - - - - Working capital total $ 58 $ 643 $ 289 $ 182 $ 148 $ 200 $ 1,084 $ 2,604 Total $ 333 $ 2,165 $ 1,507 $ 438 $ 526 $ 1,503 $ 4,111 $ 10,583 Note 3 – Finance Receivables, Net (Continued) Amortized Cost Basis by Origination Fiscal Year at March 31, 2022 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Total Wholesale Performing $ - $ - $ - $ - $ - $ - $ 2,927 $ 2,927 Credit Watch - - - - - - 16 16 At Risk - - - - - - - - Default - - - - - - - - Wholesale total $ - $ - $ - $ - $ - $ - $ 2,943 $ 2,943 Real estate Performing $ 1,614 $ 1,245 $ 264 $ 384 $ 260 $ 1,245 $ - $ 5,012 Credit Watch 2 - - - - 5 - 7 At Risk - - - - - - - - Default - - - - - - - - Real estate total $ 1,616 $ 1,245 $ 264 $ 384 $ 260 $ 1,250 $ - $ 5,019 Working Capital Performing $ 662 $ 321 $ 209 $ 158 $ 37 $ 173 $ 774 $ 2,334 Credit Watch 1 1 - - - - - 2 At Risk - - - - - - - - Default - - - - - - - - Working capital total $ 663 $ 322 $ 209 $ 158 $ 37 $ 173 $ 774 $ 2,336 Total $ 2,279 $ 1,567 $ 473 $ 542 $ 297 $ 1,423 $ 3,717 $ 10,298 The amortized cost of the dealer products portfolio excludes accrued interest of $25 million and $22 million at June 30, 2022 and March 31, 2022, respectively. As of June 30, 2022 and March 31, 2022, the amount of line-of-credit arrangements that are converted to term loans in each reporting period was insignificant, respectively. 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, 2022 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 $ 979 $ 298 $ 122 $ 1,399 $ 74,088 $ 75,487 $ 78 Wholesale - - - - 2,992 2,992 - Real estate - - - - 4,987 4,987 - Working capital - - - - 2,604 2,604 - Total $ 979 $ 298 $ 122 $ 1,399 $ 84,671 $ 86,070 $ 78 March 31, 2022 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 $ 932 $ 242 $ 117 $ 1,291 $ 72,089 $ 73,380 $ 65 Wholesale - - - - 2,943 2,943 - Real estate - - - - 5,019 5,019 - Working capital - - - - 2,336 2,336 - Total $ 932 $ 242 $ 117 $ 1,291 $ 82,387 $ 83,678 $ 65 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, 2022 and 2021 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, 2022 and 2021. 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, 2022 and 2021, 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.

Allowance for Credit Losses

Allowance for Credit Losses	3 Months Ended
Allowance for Credit Losses	Jun. 30, 2022
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, 2022 Retail loan Dealer products Total Beginning balance, April 1, 2022 $ 1,195 $ 77 $ 1,272 Charge-offs (91 ) - (91 ) Recoveries 15 - 15 Provision for credit losses 90 (12 ) 78 Ending balance, June 30, 2022 1 $ 1,209 $ 65 $ 1,274 1 Ending balance includes $26 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, 2021 Retail loan Dealer 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. 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, 2022, includes $958 million in finance receivables that are guaranteed by Toyota Motor North America, Inc. (“TMNA”), and $187 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, 2021, includes $1,033 million in finance receivables that are guaranteed by TMNA, and $171 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.

Investments in Operating Leases

Investments in Operating Leases, Net	3 Months Ended
Investments in Operating Leases, Net	Jun. 30, 2022
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, 2022 2022 Investments in operating leases 1 $ 43,629 $ 45,728 Deferred origination (fees) and costs, net (38 ) (46 ) Deferred income (1,074 ) (1,272 ) Accumulated depreciation (8,814 ) (8,955 ) Investments in operating leases, net $ 33,703 $ 35,455 1 Includes securitized investments in operating leases of $15.6 billion and $16.2 billion as of June 30, 2022 and March 31, 2022

Derivatives, Hedging Activities

Derivatives, Hedging Activities and Interest Expense	3 Months Ended
Derivatives, Hedging Activities and Interest Expense	Jun. 30, 2022
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. All derivative instruments are recorded on the balance sheet at fair value, taking into consideration the effects of legally enforceable master netting agreements that allow us to net settle asset and liability positions and offset cash collateral with the same counterparty on a net basis. Changes in the fair value of our derivative instruments are recorded in Interest expense in our Consolidated Statements of Income. The derivative instruments are included as a component of Other assets or Other liabilities on our Consolidated Balance Sheets. 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, 2022, 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, 2022 March 31, 2022 Fair Fair Notional value Notional value Other assets: Interest rate swaps $ 64,202 $ 1,647 $ 64,327 $ 1,425 Foreign currency swaps 129 18 1,594 55 Total $ 64,331 $ 1,665 $ 65,921 $ 1,480 Counterparty netting (890 ) (761 ) Collateral held (723 ) (658 ) Carrying value of derivative contracts – Other assets $ 52 $ 61 Other liabilities: Interest rate swaps $ 27,862 $ 1,018 $ 19,903 $ 822 Foreign currency swaps 9,443 1,370 8,102 717 Total $ 37,305 $ 2,388 $ 28,005 $ 1,539 Counterparty netting (890 ) (761 ) Collateral posted (1,498 ) (753 ) Carrying value of derivative contracts – Other liabilities $ - $ 25 As of June 30, 2022 and March 31, 2022, we held excess collateral and variation margin of $56 million and $2 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, 2022 and March 31, 2022, we posted initial margin and excess collateral of $257 million and $132 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, 2022 2021 Interest expense on debt $ 446 $ 389 Interest (income) expense on derivatives (62 ) 66 Interest expense on debt and derivatives 384 455 (Gains) losses on debt denominated in foreign currencies (591 ) 10 Losses on foreign currency swaps 712 25 Losses (gains) on U.S. dollar interest rate swaps 58 (204 ) Total interest expense $ 563 $ 286 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, 2022
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, 2022 March 31, 2022 Face value Carrying value Weighted average contractual interest rates Face value Carrying value Weighted average contractual interest rates Unsecured notes and loans payable $ 81,819 $ 81,541 1.73 % $ 82,542 $ 82,288 1.30 % Secured notes and loans payable 28,933 28,882 1.54 % 26,907 26,864 1.01 % Total debt $ 110,752 $ 110,423 1.68 % $ 109,449 $ 109,152 1.23 % 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 $17.4 billion and $16.9 billion as of June 30, 2022 and March 31, 2022, 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 2023, 2025, and 2027, 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, 2022 and March 31, 2022. 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 $8.0 billion backed by eligible retail finance receivables transferred by us to a special-purpose entity acting as borrower. We utilized $2.8 billion and $3.2 billion of this facility as of June 30, 2022 and March 31, 2022, respectively. Other Unsecured Credit Agreements TMCC is party to additional unsecured credit facilities with various banks. As of June 30, 2022, TMCC had committed bank credit facilities totaling $4.6 billion, of which $2.0 billion, $300 million, $2.0 billion, and $300 million mature in fiscal 2023, 2024, 2025, and 2026 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, 2022 and March 31, 2022. 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, 2022 and March 31, 2022. 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, 2022
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, 2022 VIE Assets VIE Liabilities Net Restricted cash securitized assets Other assets Debt Other liabilities Retail finance receivables $ 1,272 $ 24,009 $ 58 $ 20,953 $ 11 Investments in operating leases 577 11,358 13 7,929 3 Total $ 1,849 $ 35,367 $ 71 $ 28,882 $ 14 March 31, 2022 VIE Assets VIE Liabilities Net Restricted cash securitized assets Other assets Debt Other liabilities Retail finance receivables $ 1,284 $ 20,932 $ 51 $ 18,562 $ 8 Investments in operating leases 645 11,886 15 8,302 2 Total $ 1,929 $ 32,818 $ 66 $ 26,864 $ 10 Restricted Cash, including cash equivalents, shown in the previous tables represent 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 tables 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 $1,806 million and $1,667 million of securities retained by TMCC at June 30, 2022 and March 31, 2022, 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 at June 30, 2022 and March 31, 2022 and revenues earned from these dealers for the three months ended June 30, 2022 and 2021 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 from these lending relationships at June 30, 2022 and March 31, 2022 and revenues earned under these relationships for the three months ended June 30, 2022 and 2021 were not significant.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Jun. 30, 2022
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, 2022 2022 Commitments: Credit facilities commitments with dealers $ 3,342 $ 3,289 Commitments under operating lease agreements 118 119 Total commitments 3,460 3,408 Guarantees of affiliate pollution control and solid waste disposal bonds 100 100 Total commitments and guarantees $ 3,560 $ 3,508 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. In addition to the total commitments and guarantees in the previous table, we also have extended credit facilities to affiliates as described in Note 12 – Related Party Transactions in our fiscal 2022 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 first quarter of fiscal 2023 and fiscal 2022, respectively. 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 $82 million and $84 million for facilities leases with affiliates at June 30, 2022 and March 31, 2022, 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, 2022 2023 $ 14 2024 17 2025 15 2026 14 2027 13 Thereafter 45 Total $ 118 Present value discount (13 ) Total operating lease liability $ 105 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, 2022 ROU assets $ 96 Weighted average remaining lease term (in years) 7.8 Weighted average discount rate 2.67 % 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, 2022 and March 31, 2022. 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, 2022, we determined that it is not probable that we will be required to make any material payments in the future. As of June 30, 2022 and March 31, 2022, 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, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 10 – Income Taxes Our provision for income taxes was $51 million for the three months ended June 30, 2022, compared to $267 million for the same period in fiscal 2022. Our effective tax rate was 23 percent for the three months ended June 30, 2022, compared to 22 percent for the same period in fiscal 2022. The decrease in the provision for income taxes for the three months ended June 30, 2022, compared to the same period in fiscal 2022, was primarily due to the decrease in income before income taxes. The higher effective tax rate for the three months ended June 30, 2022, compared to the same period in fiscal 2022, was primarily attributable to the larger impact of permanent differences between book and tax on lower income before income taxes in the current period, partially offset by a lower state effective tax rate. Tax-related Contingencies As of June 30, 2022, we remain under IRS examination for fiscal 2018 through fiscal 2023. 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, 2022, 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, mark-to-market adjustment of investment in marketable securities, and other deferred costs. The total deferred tax liability, net of these deferred tax assets, was $1.4 billion and $1.6 billion at June 30, 2022 and March 31, 2022, 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, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 11 – Related Party Transactions As of June 30, 2022, there were no material changes to our related party agreements or relationships as described in our fiscal 2022 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, 2022 2021 Net financing revenues: Manufacturer's subvention and other revenues $ 339 $ 479 Depreciation on operating leases $ 22 $ (28 ) Interest expense: Credit support fees, interest and other expenses $ 23 $ 24 Voluntary protection contract revenues and insurance earned premiums: Voluntary protection contract revenues and insurance earned premiums $ 40 $ 42 Investment and other income, net: Interest and other income $ (6 ) $ 3 Expenses: Operating and administrative $ 21 $ 21 Note 11 – Related Party Transactions (Continued) June 30, March 31, 2022 2022 Assets: Cash and cash equivalents Commercial paper $ 19 $ 100 Finance receivables, net Accounts receivable $ 39 $ 90 Deferred retail subvention income $ (819 ) $ (875 ) Investments in operating leases, net Investments in operating leases, net $ (243 ) $ (212 ) Deferred lease subvention income $ (760 ) $ (923 ) Other assets Notes receivable $ 653 $ 789 Other receivables, net $ 80 $ 80 Liabilities: Other liabilities Unearned voluntary protection contract revenues and insurance earned premiums $ 376 $ 374 Other payables, net $ 364 $ 394 Notes payable $ 16 $ 8 TMCC receives subvention payments from TMNA which results in a gross monthly subvention receivable. As of June 30, 2022 and March 31, 2022, the subvention receivable from TMNA was $68 million and $66 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, 2022 and March 31, 2022, 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, 2022
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, 2022 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 $ 520 $ 4 $ - $ - $ 524 Foreign government and agency obligations - 15 - - 15 Municipal debt securities - 9 - - 9 Corporate debt securities - 482 - - 482 Mortgage-backed securities: U.S. government agency - 23 - - 23 Non-agency residential - 6 3 - 9 Non-agency commercial - 78 5 - 83 Asset-backed securities - 70 2 - 72 Available-for-sale debt securities total 520 687 10 - 1,217 Equity investments: Fixed income mutual funds: Fixed income mutual funds measured at net asset value 1,080 Total return bond funds 1,480 - - - 1,480 Equity mutual funds 794 - - - 794 Equity investments total 2,274 - - - 3,354 Investments in marketable securities total 2,794 687 10 - 4,571 Derivative assets: Interest rate swaps - 1,647 - - 1,647 Foreign currency swaps - 18 - - 18 Counterparty netting and collateral - - - (1,613 ) (1,613 ) Derivative assets total - 1,665 - (1,613 ) 52 Assets at fair value 2,794 2,352 10 (1,613 ) 4,623 Derivative liabilities: Interest rate swaps - (1,018 ) - - (1,018 ) Foreign currency swaps - (1,370 ) - - (1,370 ) Counterparty netting and collateral - - - 2,388 2,388 Liabilities at fair value - (2,388 ) - 2,388 - Net assets at fair value $ 2,794 $ (36 ) $ 10 $ 775 $ 4,623 Note 12 – Fair Value Measurements (Continued) March 31, 2022 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 $ 504 $ 5 $ - $ - $ 509 Foreign government and agency obligations - 23 - - 23 Municipal debt securities - 10 - - 10 Corporate debt securities - 568 - - 568 Mortgage-backed securities: U.S. government agency - 20 - - 20 Non-agency residential - 7 3 - 10 Non-agency commercial - 78 8 - 86 Asset-backed securities - 75 3 - 78 Available-for-sale debt securities total 504 786 14 - 1,304 Equity investments: Fixed income mutual funds: Fixed income mutual funds measured at net asset value 1,137 Total return bond funds 1,576 - - - 1,576 Equity mutual funds 936 - - - 936 Equity investments total 2,512 - - - 3,649 Investments in marketable securities total 3,016 786 14 - 4,953 Derivative assets: Interest rate swaps - 1,425 - - 1,425 Foreign currency swaps - 55 - - 55 Counterparty netting and collateral - - - (1,419 ) (1,419 ) Derivative assets total - 1,480 - (1,419 ) 61 Assets at fair value 3,016 2,266 14 (1,419 ) 5,014 Derivative liabilities: Interest rate swaps - (822 ) - - (822 ) Foreign currency swaps - (717 ) - - (717 ) Counterparty netting and collateral - - - 1,514 1,514 Liabilities at fair value - (1,539 ) - 1,514 (25 ) Net assets at fair value $ 3,016 $ 727 $ 14 $ 95 $ 4,989 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, 2022 and March 31, 2022, or Consolidated Statements of Income for the three months ended June 30, 2022 and 2021. 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, 2022 and March 31, 2022. 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, 2022 Carrying Total Fair value Level 1 Level 2 Level 3 value Financial assets Finance receivables Retail loan $ 74,472 $ - $ - $ 74,886 $ 74,886 Wholesale 2,995 - - 2,981 2,981 Real estate 4,979 - - 4,967 4,967 Working capital 2,557 - - 2,453 2,453 Financial liabilities Unsecured notes and loans payable $ 81,541 $ - $ 79,483 $ - $ 79,483 Secured notes and loans payable 28,882 - - 28,279 28,279 March 31, 2022 Carrying Total Fair value Level 1 Level 2 Level 3 value Financial assets Finance receivables Retail loan $ 72,369 $ - $ - $ 73,385 $ 73,385 Wholesale 2,940 - - 2,931 2,931 Real estate 4,985 - - 4,961 4,961 Working capital 2,256 - - 2,171 2,171 Financial liabilities Unsecured notes and loans payable $ 82,288 $ - $ 80,980 $ - $ 80,980 Secured notes and loans payable 26,864 - - 26,500 26,500 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 $39 million and $90 million at June 30, 2022 and March 31, 2022, 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, 2022
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, 2022 Finance Voluntary protection Intercompany operations operations eliminations Total Total financing revenues $ 2,831 $ - $ - $ 2,831 Depreciation on operating leases 1,409 - - 1,409 Interest expense 563 - - 563 Net financing revenues 859 - - 859 Voluntary protection contract revenues and insurance earned premiums - 259 - 259 Investment and other income (loss), net 33 (339 ) - (306 ) Net financing and other revenues 892 (80 ) - 812 Expenses: Provision for credit losses 78 - - 78 Operating and administrative 299 107 - 406 Voluntary protection contract expenses and insurance losses - 107 - 107 Total expenses 377 214 - 591 Income (loss) before income taxes 515 (294 ) - 221 Provision (benefit) for income taxes 125 (74 ) - 51 Net income (loss) $ 390 $ (220 ) $ - $ 170 Total assets at June 30, 2022 $ 130,054 $ 6,213 $ (135 ) $ 136,132 Note 13 – Segment Information (Continued) 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 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 Voluntary protection operations – Contract revenues For the three months ended June 30, 2022 and 2021, approximately 83 percent and 82 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, 2022 and 2021. We had $2.5 billion and $2.7 billion of unearned voluntary protection contract revenues from contracts with customers included in Other liabilities on our Consolidated Balance Sheets as of March 31, 2021 and March 31, 2022, respectively. We recognized $200 million of these balances in voluntary protection contract revenues in our Consolidated Statements of Income during the three months ended June 30, 2022, compared to $192.0 million recognized during the same period in fiscal 2022. As of June 30, 2022, we had unearned voluntary protection contract revenues of $2.8 billion included in Other liabilities on our Consolidated Balance Sheets, and with respect to this balance we expect to recognize revenue of $592 million during fiscal 2023, and $2.2 billion thereafter. At June 30, 2021, we had unearned voluntary protection contract revenues of $2.5 billion associated with outstanding contracts.

Interim Financial Data (Policie

Interim Financial Data (Policies)	3 Months Ended
Interim Financial Data (Policies)	Jun. 30, 2022
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, 2022 and 2021 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, 2022, do not necessarily indicate the results which may be expected for the full fiscal year ending March 31, 2023 (“fiscal 2023”). 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, 2022 (“fiscal 2022”), which was filed with the Securities and Exchange Commission on June 3, 2022. 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, we announced the restructuring of our customer service operations to better serve our customers by relocating and streamlining the customer service operation and investing in new technology. The restructuring is in progress, and we plan to complete the process of moving our three regional CSCs to be co-located with the regional DSCs to become regional experience centers by the end of fiscal 2023. Costs associated with this restructure are not expected to be significant. In fiscal 2022, TMCC announced, in furtherance of its private label financial services initiative for third party automotive and mobility companies, that we entered into a nonbinding letter of intent with Great American Outdoors Group LLC, the parent company of Bass Pro Shops, Cabela’s and the White River Marine Group (“Bass Pro Shops”) to provide private label financial services for Bass Pro Shop’s boats, all-terrain vehicle products, and other mobility products. The Company began to provide inventory financing for Bass Pro Shops, its affiliates, and authorized independent dealers in fiscal 2023, with additional private label services, including consumer financing and voluntary protection products and services, to be added over time. We are leveraging our existing processes and personnel to originate and service the new assets, and we expect to make certain technology investments to support the Bass Pro Shops program. We did not acquire any existing Bass Pro Shops assets or liabilities pursuant to the agreement, and we do not expect launch costs to be significant.
Recently Adopted Accounting Guidance	Recently Adopted Accounting Guidance On April 1, 2022, we adopted ASU 2021-05, Lessors-Certain Leases with Variable Lease Payments (Topic 842)
Accounting Guidance Issued But Not Yet Adopted	Accounting Guidance Issued But Not Yet Adopted In March 2022, the FASB issued ASU 2022-02, Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures Financial Instruments – Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments
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 the 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. Realized gains and losses from sales of AFS debt securities are determined using the specific identification method or first in first out method and are 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. All derivative instruments are recorded on the balance sheet at fair value, taking into consideration the effects of legally enforceable master netting agreements that allow us to net settle asset and liability positions and offset cash collateral with the same counterparty on a net basis. Changes in the fair value of our derivative instruments are recorded in Interest expense in our Consolidated Statements of Income. The derivative instruments are included as a component of Other assets or Other liabilities on our Consolidated Balance Sheets.
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, 2022, 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	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.
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 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, 2022 and 2021.

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	3 Months Ended
Investments in Marketable Securities (Tables)	Jun. 30, 2022
Marketable Securities [Abstract]
Summary of Investments in Marketable Securities	Investments in marketable securities consisted of the following: June 30, 2022 Amortized Unrealized Unrealized Fair cost gains losses value Available-for-sale debt securities: U.S. government and agency obligations $ 574 $ 1 $ (51 ) $ 524 Foreign government and agency obligations 19 - (4 ) 15 Municipal debt securities 9 1 (1 ) 9 Corporate debt securities 551 1 (70 ) 482 Mortgage-backed securities: U.S. government agency 24 - (1 ) 23 Non-agency residential 10 - (1 ) 9 Non-agency commercial 88 1 (6 ) 83 Asset-backed securities 78 - (6 ) 72 Total available-for-sale debt securities $ 1,353 $ 4 $ (140 ) $ 1,217 Equity investments 3,354 Total investments in marketable securities $ 4,571 March 31, 2022 Amortized Unrealized Unrealized Fair cost gains losses value Available-for-sale debt securities: U.S. government and agency obligations $ 538 $ - $ (29 ) $ 509 Foreign government and agency obligations 26 - (3 ) 23 Municipal debt securities 9 1 - 10 Corporate debt securities 598 4 (34 ) 568 Mortgage-backed securities: U.S. government agency 20 - - 20 Non-agency residential 11 - (1 ) 10 Non-agency commercial 88 1 (3 ) 86 Asset-backed securities 82 - (4 ) 78 Total available-for-sale debt securities $ 1,372 $ 6 $ (74 ) $ 1,304 Equity investments 3,649 Total investments in marketable securities $ 4,953
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, 2022 2021 Available-for-sale debt securities: Unrealized (losses) gains on securities for which the fair value option was elected $ (35 ) $ 9 Realized (losses) gains on sales $ (14 ) $ - Equity investments: Unrealized (losses) gains $ (307 ) $ 84 Realized (losses) gains on sales $ (10 ) $ 22
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, 2022 Amortized c Fair value Available-for-sale debt securities: Due within 1 year $ 66 $ 66 Due after 1 year through 5 years 364 345 Due after 5 years through 10 years 373 331 Due after 10 years 350 288 Mortgage-backed and asset-backed securities 1 200 187 Total $ 1,353 $ 1,217 1

Finance Receivables, Net (Table

Finance Receivables, Net (Tables)	3 Months Ended
Finance Receivables, Net (Tables)	Jun. 30, 2022
Receivables [Abstract]
Net Financing Receivables	Finance receivables, net consisted of the following: June 30, March 31, 2022 2022 Retail receivables 1 $ 75,178 $ 73,152 Dealer financing 10,583 10,298 85,761 83,450 Deferred origination costs 1,364 1,330 Deferred income (1,055 ) (1,102 ) Allowance for credit losses Retail receivables (1,209 ) (1,195 ) Dealer financing (39 ) (51 ) Total allowance for credit losses (1,248 ) (1,246 ) Finance receivables, net $ 84,822 $ 82,432 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 origination fiscal year by credit quality indicator based on number of days past due: Amortized Cost Basis by Origination Fiscal Year at June 30, 2022 2023 2022 2021 2020 2019 2018 and Prior Total Aging of finance receivables: Current $ 9,695 $ 29,743 $ 19,682 $ 8,425 $ 4,007 $ 2,536 $ 74,088 30-59 days past due 17 345 302 143 91 81 979 60-89 days past due - 107 96 43 26 26 298 90 days or greater past due - 45 37 16 11 13 122 Total $ 9,712 $ 30,240 $ 20,117 $ 8,627 $ 4,135 $ 2,656 $ 75,487 Amortized Cost Basis by Origination Fiscal Year at March 31, 2022 2022 2021 2020 2019 2018 2017 and Prior Total Aging of finance receivables: Current $ 32,382 $ 21,917 $ 9,624 $ 4,774 $ 2,674 $ 718 $ 72,089 30-59 days past due 275 304 153 101 63 36 932 60-89 days past due 68 82 40 25 16 11 242 90 days or greater past due 33 39 17 13 8 7 117 Total $ 32,758 $ 22,342 $ 9,834 $ 4,913 $ 2,761 $ 772 $ 73,380 The following tables present the amortized cost basis of our dealer products portfolio by credit quality indicator based on internal risk assessments by origination fiscal year: Amortized Cost Basis by Origination Fiscal Year at June 30, 2022 2023 2022 2021 2020 2019 2018 and Prior Revolving loans Total Wholesale Performing $ - $ - $ - $ - $ - $ - $ 2,979 $ 2,979 Credit Watch - - - - - - 13 13 At Risk - - - - - - - - Default - - - - - - - - Wholesale total $ - $ - $ - $ - $ - $ - $ 2,992 $ 2,992 Real estate Performing $ 270 $ 1,522 $ 1,217 $ 256 $ 378 $ 1,303 $ 35 $ 4,981 Credit Watch 5 - 1 - - - - 6 At Risk - - - - - - - - Default - - - - - - - - Real estate total $ 275 $ 1,522 $ 1,218 $ 256 $ 378 $ 1,303 $ 35 $ 4,987 Working Capital Performing $ 58 $ 643 $ 289 $ 182 $ 148 $ 200 $ 1,084 $ 2,604 Credit Watch - - - - - - - - At Risk - - - - - - - - Default - - - - - - - - Working capital total $ 58 $ 643 $ 289 $ 182 $ 148 $ 200 $ 1,084 $ 2,604 Total $ 333 $ 2,165 $ 1,507 $ 438 $ 526 $ 1,503 $ 4,111 $ 10,583 Amortized Cost Basis by Origination Fiscal Year at March 31, 2022 2022 2021 2020 2019 2018 2017 and Prior Revolving loans Total Wholesale Performing $ - $ - $ - $ - $ - $ - $ 2,927 $ 2,927 Credit Watch - - - - - - 16 16 At Risk - - - - - - - - Default - - - - - - - - Wholesale total $ - $ - $ - $ - $ - $ - $ 2,943 $ 2,943 Real estate Performing $ 1,614 $ 1,245 $ 264 $ 384 $ 260 $ 1,245 $ - $ 5,012 Credit Watch 2 - - - - 5 - 7 At Risk - - - - - - - - Default - - - - - - - - Real estate total $ 1,616 $ 1,245 $ 264 $ 384 $ 260 $ 1,250 $ - $ 5,019 Working Capital Performing $ 662 $ 321 $ 209 $ 158 $ 37 $ 173 $ 774 $ 2,334 Credit Watch 1 1 - - - - - 2 At Risk - - - - - - - - Default - - - - - - - - Working capital total $ 663 $ 322 $ 209 $ 158 $ 37 $ 173 $ 774 $ 2,336 Total $ 2,279 $ 1,567 $ 473 $ 542 $ 297 $ 1,423 $ 3,717 $ 10,298
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, 2022 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 $ 979 $ 298 $ 122 $ 1,399 $ 74,088 $ 75,487 $ 78 Wholesale - - - - 2,992 2,992 - Real estate - - - - 4,987 4,987 - Working capital - - - - 2,604 2,604 - Total $ 979 $ 298 $ 122 $ 1,399 $ 84,671 $ 86,070 $ 78 March 31, 2022 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 $ 932 $ 242 $ 117 $ 1,291 $ 72,089 $ 73,380 $ 65 Wholesale - - - - 2,943 2,943 - Real estate - - - - 5,019 5,019 - Working capital - - - - 2,336 2,336 - Total $ 932 $ 242 $ 117 $ 1,291 $ 82,387 $ 83,678 $ 65

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	3 Months Ended
Allowance for Credit Losses (Tables)	Jun. 30, 2022
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, 2022 Retail loan Dealer products Total Beginning balance, April 1, 2022 $ 1,195 $ 77 $ 1,272 Charge-offs (91 ) - (91 ) Recoveries 15 - 15 Provision for credit losses 90 (12 ) 78 Ending balance, June 30, 2022 1 $ 1,209 $ 65 $ 1,274 1 Ending balance includes $26 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, 2021 Retail loan Dealer 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.

Investments in Operating Leas_2

Investments in Operating Leases, Net (Tables)	3 Months Ended
Investments in Operating Leases, Net (Tables)	Jun. 30, 2022
Leases Operating [Abstract]
Investments in Operating Leases, Net	Investments in operating leases, net consisted of the following: June 30, March 31, 2022 2022 Investments in operating leases 1 $ 43,629 $ 45,728 Deferred origination (fees) and costs, net (38 ) (46 ) Deferred income (1,074 ) (1,272 ) Accumulated depreciation (8,814 ) (8,955 ) Investments in operating leases, net $ 33,703 $ 35,455 1 Includes securitized investments in operating leases of $15.6 billion and $16.2 billion as of June 30, 2022 and March 31, 2022

Derivatives, Hedging Activiti_2

Derivatives, Hedging Activities and Interest Expense (Tables)	3 Months Ended
	Jun. 30, 2022
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, 2022 March 31, 2022 Fair Fair Notional value Notional value Other assets: Interest rate swaps $ 64,202 $ 1,647 $ 64,327 $ 1,425 Foreign currency swaps 129 18 1,594 55 Total $ 64,331 $ 1,665 $ 65,921 $ 1,480 Counterparty netting (890 ) (761 ) Collateral held (723 ) (658 ) Carrying value of derivative contracts – Other assets $ 52 $ 61 Other liabilities: Interest rate swaps $ 27,862 $ 1,018 $ 19,903 $ 822 Foreign currency swaps 9,443 1,370 8,102 717 Total $ 37,305 $ 2,388 $ 28,005 $ 1,539 Counterparty netting (890 ) (761 ) Collateral posted (1,498 ) (753 ) Carrying value of derivative contracts – Other liabilities $ - $ 25
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, 2022 2021 Interest expense on debt $ 446 $ 389 Interest (income) expense on derivatives (62 ) 66 Interest expense on debt and derivatives 384 455 (Gains) losses on debt denominated in foreign currencies (591 ) 10 Losses on foreign currency swaps 712 25 Losses (gains) on U.S. dollar interest rate swaps 58 (204 ) Total interest expense $ 563 $ 286

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	3 Months Ended
Debt and Credit Facilities (Tables)	Jun. 30, 2022
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, 2022 March 31, 2022 Face value Carrying value Weighted average contractual interest rates Face value Carrying value Weighted average contractual interest rates Unsecured notes and loans payable $ 81,819 $ 81,541 1.73 % $ 82,542 $ 82,288 1.30 % Secured notes and loans payable 28,933 28,882 1.54 % 26,907 26,864 1.01 % Total debt $ 110,752 $ 110,423 1.68 % $ 109,449 $ 109,152 1.23 %

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
Variable Interest Entities (Tables)	Jun. 30, 2022
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, 2022 VIE Assets VIE Liabilities Net Restricted cash securitized assets Other assets Debt Other liabilities Retail finance receivables $ 1,272 $ 24,009 $ 58 $ 20,953 $ 11 Investments in operating leases 577 11,358 13 7,929 3 Total $ 1,849 $ 35,367 $ 71 $ 28,882 $ 14 March 31, 2022 VIE Assets VIE Liabilities Net Restricted cash securitized assets Other assets Debt Other liabilities Retail finance receivables $ 1,284 $ 20,932 $ 51 $ 18,562 $ 8 Investments in operating leases 645 11,886 15 8,302 2 Total $ 1,929 $ 32,818 $ 66 $ 26,864 $ 10

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2022
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, 2022 2022 Commitments: Credit facilities commitments with dealers $ 3,342 $ 3,289 Commitments under operating lease agreements 118 119 Total commitments 3,460 3,408 Guarantees of affiliate pollution control and solid waste disposal bonds 100 100 Total commitments and guarantees $ 3,560 $ 3,508
Summary of Commitments under Operating Lease Agreements	Our commitments under operating lease agreements are summarized below: June 30, Years ending March 31, 2022 2023 $ 14 2024 17 2025 15 2026 14 2027 13 Thereafter 45 Total $ 118 Present value discount (13 ) Total operating lease liability $ 105
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, 2022 ROU assets $ 96 Weighted average remaining lease term (in years) 7.8 Weighted average discount rate 2.67 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2022
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, 2022 2021 Net financing revenues: Manufacturer's subvention and other revenues $ 339 $ 479 Depreciation on operating leases $ 22 $ (28 ) Interest expense: Credit support fees, interest and other expenses $ 23 $ 24 Voluntary protection contract revenues and insurance earned premiums: Voluntary protection contract revenues and insurance earned premiums $ 40 $ 42 Investment and other income, net: Interest and other income $ (6 ) $ 3 Expenses: Operating and administrative $ 21 $ 21
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, 2022 2022 Assets: Cash and cash equivalents Commercial paper $ 19 $ 100 Finance receivables, net Accounts receivable $ 39 $ 90 Deferred retail subvention income $ (819 ) $ (875 ) Investments in operating leases, net Investments in operating leases, net $ (243 ) $ (212 ) Deferred lease subvention income $ (760 ) $ (923 ) Other assets Notes receivable $ 653 $ 789 Other receivables, net $ 80 $ 80 Liabilities: Other liabilities Unearned voluntary protection contract revenues and insurance earned premiums $ 376 $ 374 Other payables, net $ 364 $ 394 Notes payable $ 16 $ 8

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2022
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, 2022 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 $ 520 $ 4 $ - $ - $ 524 Foreign government and agency obligations - 15 - - 15 Municipal debt securities - 9 - - 9 Corporate debt securities - 482 - - 482 Mortgage-backed securities: U.S. government agency - 23 - - 23 Non-agency residential - 6 3 - 9 Non-agency commercial - 78 5 - 83 Asset-backed securities - 70 2 - 72 Available-for-sale debt securities total 520 687 10 - 1,217 Equity investments: Fixed income mutual funds: Fixed income mutual funds measured at net asset value 1,080 Total return bond funds 1,480 - - - 1,480 Equity mutual funds 794 - - - 794 Equity investments total 2,274 - - - 3,354 Investments in marketable securities total 2,794 687 10 - 4,571 Derivative assets: Interest rate swaps - 1,647 - - 1,647 Foreign currency swaps - 18 - - 18 Counterparty netting and collateral - - - (1,613 ) (1,613 ) Derivative assets total - 1,665 - (1,613 ) 52 Assets at fair value 2,794 2,352 10 (1,613 ) 4,623 Derivative liabilities: Interest rate swaps - (1,018 ) - - (1,018 ) Foreign currency swaps - (1,370 ) - - (1,370 ) Counterparty netting and collateral - - - 2,388 2,388 Liabilities at fair value - (2,388 ) - 2,388 - Net assets at fair value $ 2,794 $ (36 ) $ 10 $ 775 $ 4,623 March 31, 2022 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 $ 504 $ 5 $ - $ - $ 509 Foreign government and agency obligations - 23 - - 23 Municipal debt securities - 10 - - 10 Corporate debt securities - 568 - - 568 Mortgage-backed securities: U.S. government agency - 20 - - 20 Non-agency residential - 7 3 - 10 Non-agency commercial - 78 8 - 86 Asset-backed securities - 75 3 - 78 Available-for-sale debt securities total 504 786 14 - 1,304 Equity investments: Fixed income mutual funds: Fixed income mutual funds measured at net asset value 1,137 Total return bond funds 1,576 - - - 1,576 Equity mutual funds 936 - - - 936 Equity investments total 2,512 - - - 3,649 Investments in marketable securities total 3,016 786 14 - 4,953 Derivative assets: Interest rate swaps - 1,425 - - 1,425 Foreign currency swaps - 55 - - 55 Counterparty netting and collateral - - - (1,419 ) (1,419 ) Derivative assets total - 1,480 - (1,419 ) 61 Assets at fair value 3,016 2,266 14 (1,419 ) 5,014 Derivative liabilities: Interest rate swaps - (822 ) - - (822 ) Foreign currency swaps - (717 ) - - (717 ) Counterparty netting and collateral - - - 1,514 1,514 Liabilities at fair value - (1,539 ) - 1,514 (25 ) Net assets at fair value $ 3,016 $ 727 $ 14 $ 95 $ 4,989
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, 2022 Carrying Total Fair value Level 1 Level 2 Level 3 value Financial assets Finance receivables Retail loan $ 74,472 $ - $ - $ 74,886 $ 74,886 Wholesale 2,995 - - 2,981 2,981 Real estate 4,979 - - 4,967 4,967 Working capital 2,557 - - 2,453 2,453 Financial liabilities Unsecured notes and loans payable $ 81,541 $ - $ 79,483 $ - $ 79,483 Secured notes and loans payable 28,882 - - 28,279 28,279 March 31, 2022 Carrying Total Fair value Level 1 Level 2 Level 3 value Financial assets Finance receivables Retail loan $ 72,369 $ - $ - $ 73,385 $ 73,385 Wholesale 2,940 - - 2,931 2,931 Real estate 4,985 - - 4,961 4,961 Working capital 2,256 - - 2,171 2,171 Financial liabilities Unsecured notes and loans payable $ 82,288 $ - $ 80,980 $ - $ 80,980 Secured notes and loans payable 26,864 - - 26,500 26,500

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Jun. 30, 2022
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, 2022 Finance Voluntary protection Intercompany operations operations eliminations Total Total financing revenues $ 2,831 $ - $ - $ 2,831 Depreciation on operating leases 1,409 - - 1,409 Interest expense 563 - - 563 Net financing revenues 859 - - 859 Voluntary protection contract revenues and insurance earned premiums - 259 - 259 Investment and other income (loss), net 33 (339 ) - (306 ) Net financing and other revenues 892 (80 ) - 812 Expenses: Provision for credit losses 78 - - 78 Operating and administrative 299 107 - 406 Voluntary protection contract expenses and insurance losses - 107 - 107 Total expenses 377 214 - 591 Income (loss) before income taxes 515 (294 ) - 221 Provision (benefit) for income taxes 125 (74 ) - 51 Net income (loss) $ 390 $ (220 ) $ - $ 170 Total assets at June 30, 2022 $ 130,054 $ 6,213 $ (135 ) $ 136,132 Note 13 – Segment Information (Continued) 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 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

Interim Financial Data - Additi

Interim Financial Data - Additional Information (Details) - ASU 2021-05 [Member]	Apr. 01, 2022
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adoption date	Apr. 01, 2022
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) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Marketable Securities [Abstract]
Fair value option elected	$ 606,000,000		$ 674,000,000
Available-for-sale debt securities unrealized loss	$ 76,000,000		$ 41,000,000
Private placement share redemption percentage	1%
Private placement share redemption amount	$ 250,000
Share redemption period	90 days
Non-cash investing activities related to in-kind transactions	$ 0	$ 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, 2022	Mar. 31, 2022
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	$ 1,353	$ 1,372
Available-for-sale debt securities, Unrealized gains	4	6
Available-for-sale debt securities, Unrealized losses	(140)	(74)
Available-for-sale debt securities, Fair value	1,217	1,304
Equity investments, Fair value	3,354	3,649
Investments in marketable securities total	4,571	4,953
U.S. government and agency obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	574	538
Available-for-sale debt securities, Unrealized gains	1	0
Available-for-sale debt securities, Unrealized losses	(51)	(29)
Available-for-sale debt securities, Fair value	524	509
Foreign government and agency obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	19	26
Available-for-sale debt securities, Unrealized gains	0	0
Available-for-sale debt securities, Unrealized losses	(4)	(3)
Available-for-sale debt securities, Fair value	15	23
Municipal debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	9	9
Available-for-sale debt securities, Unrealized gains	1	1
Available-for-sale debt securities, Unrealized losses	(1)	0
Available-for-sale debt securities, Fair value	9	10
Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	551	598
Available-for-sale debt securities, Unrealized gains	1	4
Available-for-sale debt securities, Unrealized losses	(70)	(34)
Available-for-sale debt securities, Fair value	482	568
U.S. government agency mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	24	20
Available-for-sale debt securities, Unrealized gains	0	0
Available-for-sale debt securities, Unrealized losses	(1)	0
Available-for-sale debt securities, Fair value	23	20
Non-agency residential mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	10	11
Available-for-sale debt securities, Unrealized gains	0	0
Available-for-sale debt securities, Unrealized losses	(1)	(1)
Available-for-sale debt securities, Fair value	9	10
Non-agency commercial mortgage-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	88	88
Available-for-sale debt securities, Unrealized gains	1	1
Available-for-sale debt securities, Unrealized losses	(6)	(3)
Available-for-sale debt securities, Fair value	83	86
Asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale debt securities, Amortized cost	78	82
Available-for-sale debt securities, Unrealized gains	0	0
Available-for-sale debt securities, Unrealized losses	(6)	(4)
Available-for-sale debt securities, Fair value	$ 72	$ 78

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, 2022	Jun. 30, 2021
Available-for-sale debt securities:
Unrealized (losses) gains on securities for which the fair value option was elected	$ (35)	$ 9
Realized (losses) gains on sales	(14)	0
Equity investments:
Unrealized (losses) gains	(307)	84
Realized (losses) gains on sales	$ (10)	$ 22

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, 2022	Mar. 31, 2022
Available-for-sale debt securities, Amortized cost
Due within 1 Year, Amortized cost		$ 66
Due after 1 Year through 5 Years, Amortized cost		364
Due after 5 Years through 10 Years, Amortized cost		373
Due after 10 Years, Amortized cost		350
Mortgage-backed and asset-backed securities, Amortized cost	[1]	200
Available-for-sale debt securities, Amortized cost		$ 1,353	$ 1,372
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		$ 66
Due after 1 Year through 5 Years, Fair value		345
Due after 5 Years through 10 Years, Fair value		331
Due after 10 Years, Fair value		288
Mortgage-backed and asset-backed securities, Fair value	[1]	187
Total, Fair value		$ 1,217	$ 1,304
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, 2022	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 86,070	$ 83,678
Allowance for credit losses	(1,248)	(1,246)
Finance receivables, net	84,822	82,432
Finance Receivables, Net [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	85,761	83,450
Deferred origination costs	1,364	1,330
Deferred income	(1,055)	(1,102)
Allowance for credit losses	(1,248)	(1,246)
Finance receivables, net	84,822	82,432
Finance Receivables, Net [Member] \| Retail receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	75,178	73,152
Allowance for credit losses	(1,209)	(1,195)
Finance Receivables, Net [Member] \| Dealer financing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	10,583	10,298
Allowance for credit losses	$ (39)	$ (51)

Finance Receivables, Net - Ne_2

Finance Receivables, Net - Net Financing Receivables (Parenthetical) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 86,070	$ 83,678
Finance Receivables, Net [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	85,761	83,450
Finance Receivables, Net [Member] \| Securitized retail receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	$ 24,200	$ 21,200

Finance Receivables, Net - Addi

Finance Receivables, Net - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable accrued interest before allowance for credit loss	$ 226	$ 214
Retail Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable accrued interest before allowance for credit loss	201	192
Dealer Products [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable accrued interest before allowance for credit loss	$ 25	$ 22

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, 2022	Mar. 31, 2022
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	$ 333	$ 2,279
Year two, originated, fiscal year before current fiscal year	2,165	1,567
Year three, originated, two years before current fiscal year	1,507	473
Year four, originated, three years before current fiscal year	438	542
Year five, originated, four years before current fiscal year	526	297
Originated, more than five years before current fiscal year	1,503	1,423
Revolving loans	4,111	3,717
Total	10,583	10,298
Retail Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	9,712	32,758
Year two, originated, fiscal year before current fiscal year	30,240	22,342
Year three, originated, two years before current fiscal year	20,117	9,834
Year four, originated, three years before current fiscal year	8,627	4,913
Year five, originated, four years before current fiscal year	4,135	2,761
Originated, more than five years before current fiscal year	2,656	772
Total	75,487	73,380
Current [Member] \| Retail Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	9,695	32,382
Year two, originated, fiscal year before current fiscal year	29,743	21,917
Year three, originated, two years before current fiscal year	19,682	9,624
Year four, originated, three years before current fiscal year	8,425	4,774
Year five, originated, four years before current fiscal year	4,007	2,674
Originated, more than five years before current fiscal year	2,536	718
Total	74,088	72,089
30-59 Days Past Due [Member] \| Retail Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	17	275
Year two, originated, fiscal year before current fiscal year	345	304
Year three, originated, two years before current fiscal year	302	153
Year four, originated, three years before current fiscal year	143	101
Year five, originated, four years before current fiscal year	91	63
Originated, more than five years before current fiscal year	81	36
Total	979	932
60-89 Days Past Due [Member] \| Retail Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	68
Year two, originated, fiscal year before current fiscal year	107	82
Year three, originated, two years before current fiscal year	96	40
Year four, originated, three years before current fiscal year	43	25
Year five, originated, four years before current fiscal year	26	16
Originated, more than five years before current fiscal year	26	11
Total	298	242
90 Days or Greater Past Due [Member] \| Retail Loan [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	33
Year two, originated, fiscal year before current fiscal year	45	39
Year three, originated, two years before current fiscal year	37	17
Year four, originated, three years before current fiscal year	16	13
Year five, originated, four years before current fiscal year	11	8
Originated, more than five years before current fiscal year	13	7
Total	122	117
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	2,992	2,943
Total	2,992	2,943
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	2,979	2,927
Total	2,979	2,927
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	13	16
Total	13	16
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	0	0
Total	0	0
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	0
Total	0	0
Real estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	275	1,616
Year two, originated, fiscal year before current fiscal year	1,522	1,245
Year three, originated, two years before current fiscal year	1,218	264
Year four, originated, three years before current fiscal year	256	384
Year five, originated, four years before current fiscal year	378	260
Originated, more than five years before current fiscal year	1,303	1,250
Revolving loans	35	0
Total	4,987	5,019
Real estate [Member] \| Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	270	1,614
Year two, originated, fiscal year before current fiscal year	1,522	1,245
Year three, originated, two years before current fiscal year	1,217	264
Year four, originated, three years before current fiscal year	256	384
Year five, originated, four years before current fiscal year	378	260
Originated, more than five years before current fiscal year	1,303	1,245
Revolving loans	35	0
Total	4,981	5,012
Real estate [Member] \| Credit Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	5	2
Year two, originated, fiscal year before current fiscal year	0	0
Year three, originated, two years before current fiscal year	1	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	5
Revolving loans	0	0
Total	6	7
Real estate [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	0	0
Total	0	0
Real estate [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
Working capital [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	58	663
Year two, originated, fiscal year before current fiscal year	643	322
Year three, originated, two years before current fiscal year	289	209
Year four, originated, three years before current fiscal year	182	158
Year five, originated, four years before current fiscal year	148	37
Originated, more than five years before current fiscal year	200	173
Revolving loans	1,084	774
Total	2,604	2,336
Working capital [Member] \| Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	58	662
Year two, originated, fiscal year before current fiscal year	643	321
Year three, originated, two years before current fiscal year	289	209
Year four, originated, three years before current fiscal year	182	158
Year five, originated, four years before current fiscal year	148	37
Originated, more than five years before current fiscal year	200	173
Revolving loans	1,084	774
Total	2,604	2,334
Working capital [Member] \| Credit Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Year one, originated, current fiscal year	0	1
Year two, originated, fiscal year before current fiscal year	0	1
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	2
Working capital [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	0	0
Total	0	0
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, 2022	Mar. 31, 2022
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	$ 86,070	$ 83,678
90 Days or greater past due and accruing	78	65
30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	979	932
60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	298	242
90 Days or Greater Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	122	117
Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	1,399	1,291
Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	84,671	82,387
Retail Loan [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	75,487	73,380
90 Days or greater past due and accruing	78	65
Retail Loan [Member] \| 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	979	932
Retail Loan [Member] \| 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	298	242
Retail Loan [Member] \| 90 Days or Greater Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	122	117
Retail Loan [Member] \| Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	1,399	1,291
Retail Loan [Member] \| Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	74,088	72,089
Wholesale [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	2,992	2,943
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 Finance receivables	0	0
Wholesale [Member] \| 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	0	0
Wholesale [Member] \| 90 Days or Greater Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	0	0
Wholesale [Member] \| Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	0	0
Wholesale [Member] \| Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	2,992	2,943
Real estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	4,987	5,019
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 Finance receivables	0	0
Real estate [Member] \| 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	0	0
Real estate [Member] \| 90 Days or Greater Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	0	0
Real estate [Member] \| Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	0	0
Real estate [Member] \| Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	4,987	5,019
Working capital [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	2,604	2,336
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 Finance receivables	0	0
Working capital [Member] \| 60-89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	0	0
Working capital [Member] \| 90 Days or Greater Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	0	0
Working capital [Member] \| Total Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	0	0
Working capital [Member] \| Current [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance receivables	$ 2,604	$ 2,336

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, 2022	Jun. 30, 2021
Financing Receivable Allowance For Credit Losses [Abstract]
Provision for credit losses	$ 78	$ (3)
Finance Receivables, Net [Member]
Financing Receivable Allowance For Credit Losses [Abstract]
Allowance for credit losses at beginning of period	1,272	1,215
Charge-offs	(91)	(33)
Recoveries	15	17
Provision for credit losses	78	(3)
Allowance for credit losses at end of period	1,274	1,196
Finance Receivables, Net [Member] \| Dealer products [Member]
Financing Receivable Allowance For Credit Losses [Abstract]
Allowance for credit losses at beginning of period	77	140
Charge-offs	0	0
Recoveries	0	0
Provision for credit losses	(12)	4
Allowance for credit losses at end of period	65	144
Finance Receivables, Net [Member] \| Retail loan [Member]
Financing Receivable Allowance For Credit Losses [Abstract]
Allowance for credit losses at beginning of period	1,195	1,075
Charge-offs	(91)	(33)
Recoveries	15	17
Provision for credit losses	90	(7)
Allowance for credit losses at end of period	$ 1,209	$ 1,052

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, 2022	Jun. 30, 2021
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	$ 26	$ 49

Allowance for Credit Losses -_3

Allowance for Credit Losses - Additional Information (Details) - Finance Receivables, Net [Member] - Financial Guarantee [Member] - Dealer Products [Member] - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
TMNA [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Ending Balance: collectively evaluated for impairment	$ 958	$ 1,033
Private Toyota Distributors [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Ending Balance: collectively evaluated for impairment	$ 187	$ 171

Investments in Operating Leas_3

Investments in Operating Leases, Net - Investments in Operating Leases, Net (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Property Subject To Or Available For Operating Lease [Line Items]
Investments in operating leases, net	$ 33,703	$ 35,455
Investments in operating leases [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Investments in operating leases	43,629	45,728
Investments In Operating Leases, Net [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Deferred origination (fees) and costs, net	(38)	(46)
Deferred income	(1,074)	(1,272)
Accumulated depreciation	$ (8,814)	$ (8,955)

Investments in Operating Leas_4

Investments in Operating Leases, Net - Investments in Operating Leases, Net (Parenthetical) (Details) - USD ($) $ in Billions	Jun. 30, 2022	Mar. 31, 2022
Securitized investments in operating leases [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Investments in operating leases	$ 15.6	$ 16.2

Derivatives, Hedging Activiti_3

Derivatives, Hedging Activities and Interest Expense - Derivative Activity Impact on Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Other assets [Member]
Derivatives Fair Value [Line Items]
Notional	$ 64,331	$ 65,921
Fair value	1,665	1,480
Counterparty netting	(890)	(761)
Collateral held	(723)	(658)
Other assets [Member] \| Interest rate swaps [Member]
Derivatives Fair Value [Line Items]
Notional	64,202	64,327
Fair value	1,647	1,425
Other assets [Member] \| Foreign currency swaps [Member]
Derivatives Fair Value [Line Items]
Notional	129	1,594
Fair value	18	55
Other liabilities [Member]
Derivatives Fair Value [Line Items]
Notional	37,305	28,005
Fair value	2,388	1,539
Counterparty netting	(890)	(761)
Collateral posted	(1,498)	(753)
Other liabilities [Member] \| Interest rate swaps [Member]
Derivatives Fair Value [Line Items]
Notional	27,862	19,903
Fair value	1,018	822
Other liabilities [Member] \| Foreign currency swaps [Member]
Derivatives Fair Value [Line Items]
Notional	9,443	8,102
Fair value	1,370	717
Carrying value [Member] \| Other assets [Member]
Derivatives Fair Value [Line Items]
Carrying value of derivative contracts – Other assets	52	61
Carrying value [Member] \| Other liabilities [Member]
Derivatives Fair Value [Line Items]
Carrying value of derivative contracts – Other liabilities	$ 0	$ 25

Derivatives, Hedging Activiti_4

Derivatives, Hedging Activities and Interest Expense - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Collateral held in excess of the fair value and variation margin of derivative assets	$ 56	$ 2
Initial margin and collateral posted in excess of the fair value of derivative liabilities	$ 257	$ 132

Derivatives, Hedging Activiti_5

Derivatives, Hedging Activities and Interest Expense - Components of Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments Gain Loss [Line Items]
Interest expense on debt	$ 446	$ 389
Interest (income) expense on derivatives	(62)	66
Interest expense on debt and derivatives	384	455
(Gains) losses on debt denominated in foreign currencies	(591)	10
Losses on foreign currency swaps	712	25
Total interest expense	563	286
Interest Expense
Derivative Instruments Gain Loss [Line Items]
Losses (gains) on U.S. dollar interest rate swaps	$ 58	$ (204)

Debt and Credit Facilities - De

Debt and Credit Facilities - Debt and Related Weighted Average Contractual Interest Rates (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Debt, Face value	$ 110,752	$ 109,449
Debt, Carrying value	$ 110,423	$ 109,152
Weighted average contractual interest rates	1.68%	1.23%
Unsecured notes and loans payable [Member]
Debt Instrument [Line Items]
Debt, Face value	$ 81,819	$ 82,542
Debt, Carrying value	$ 81,541	$ 82,288
Weighted average contractual interest rates	1.73%	1.30%
Secured notes and loans payable [Member]
Debt Instrument [Line Items]
Debt, Face value	$ 28,933	$ 26,907
Debt, Carrying value	$ 28,882	$ 26,864
Weighted average contractual interest rates	1.54%	1.01%

Debt and Credit Facilities - Ad

Debt and Credit Facilities - Additional Information (Details 1) - USD ($) $ in Billions	Jun. 30, 2022	Mar. 31, 2022
Debt Disclosure [Abstract]
Commercial paper outstanding	$ 17.4	$ 16.9

Debt and Credit Facilities - _2

Debt and Credit Facilities - Additional Information (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022
364 Day Credit Agreement Expiring 2023 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 5,000,000,000
Credit facilities amount outstanding	0	$ 0
Three Year Agreement Expiring 2025 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	5,000,000,000
Credit facilities amount outstanding	0	0
Five Year Agreement Expiring 2027 [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	8,000,000,000
Credit facilities amount outstanding	2,800,000,000	3,200,000,000
Total Committed Bank Credit Facilities [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	4,600,000,000
Credit facilities amount outstanding	0	0
Committed Bank Credit Facility Expiring 2023 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	2,000,000,000
Committed Bank Credit Facility Expiring 2024 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	300,000,000
Committed Bank Credit Facility Expiring 2025 [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	2,000,000,000
Committed Bank Credit Facility Expiring 2026 [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, 2022	Mar. 31, 2022
Variable Interest Entity [Line Items]
Restricted cash	$ 1,849	$ 2,065
Net securitized assets	84,822	82,432
Other assets	2,470	2,466
Debt	110,423	109,152
Other liabilities	6,061	6,224
Other assets [Member]
Variable Interest Entity [Line Items]
Restricted cash	1,849	1,929
Net securitized assets	35,367	32,818
Other assets	71	66
Other liabilities [Member]
Variable Interest Entity [Line Items]
Debt	28,882	26,864
Other liabilities	14	10
Retail Finance Receivables [Member] \| Other assets [Member]
Variable Interest Entity [Line Items]
Restricted cash	1,272	1,284
Net securitized assets	24,009	20,932
Other assets	58	51
Retail Finance Receivables [Member] \| Other liabilities [Member]
Variable Interest Entity [Line Items]
Debt	20,953	18,562
Other liabilities	11	8
Investments In Operating Leases, Net [Member] \| Other assets [Member]
Variable Interest Entity [Line Items]
Restricted cash	577	645
Net securitized assets	11,358	11,886
Other assets	13	15
Investments In Operating Leases, Net [Member] \| Other liabilities [Member]
Variable Interest Entity [Line Items]
Debt	7,929	8,302
Other liabilities	$ 3	$ 2

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Variable Interest Entities [Abstract]
Securities retained by TMCC	$ 1,806	$ 1,667

Commitments and Contingencies -

Commitments and Contingencies - Commitments and Guarantees (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Commitments:
Credit facilities commitments with dealers	$ 3,342	$ 3,289
Commitments under operating lease agreements	118	119
Total commitments	3,460	3,408
Total commitments and guarantees	3,560	3,508
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	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Commitments And Contingencies [Line Items]
Commitments under operating lease agreements	$ 105,000,000
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	8,000,000
TMCC-affiliated companies [Member]
Commitments And Contingencies [Line Items]
Commitments under operating lease agreements	82,000,000	$ 84,000,000
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, 2022	Mar. 31, 2022
Amounts due on operating lease liabilities
2023	$ 14
2024	17
2025	15
2026	14
2027	13
Thereafter	45
Total	118	$ 119
Present value discount	(13)
Total operating lease liability	$ 105
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities

Commitments and Contingencies_4

Commitments and Contingencies - Summary of Additional Information Related to Operating Lease Agreements (Details) $ in Millions	Jun. 30, 2022 USD ($)
Commitments And Contingencies Disclosure [Abstract]
ROU assets	$ 96
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets
Weighted average remaining lease term (in years)	7 years 9 months 18 days
Weighted average discount rate	2.67%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 51	$ 267
Effective tax rate	23%	22%
Net deferred income tax liability	$ 1,400		$ 1,600

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, 2022	Jun. 30, 2021
Voluntary protection contract revenues and insurance earned premiums:
Voluntary protection contract revenues and insurance earned premiums	$ 259	$ 249
Expenses:
Operating and administrative	406	384
TMCC-affiliated companies [Member]
Net financing revenues:
Manufacturer's subvention and other revenues	339	479
Depreciation on operating leases	22	(28)
Interest expense:
Credit support fees, interest and other expenses	23	24
Voluntary protection contract revenues and insurance earned premiums:
Voluntary protection contract revenues and insurance earned premiums	40	42
Investment and other income, net:
Interest and other income	(6)	3
Expenses:
Operating and administrative	$ 21	$ 21

Related Party Transactions - _2

Related Party Transactions - Related Party Transactions Included in Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Cash and cash equivalents
Cash and cash equivalents	$ 8,717	$ 7,670
TMCC-affiliated companies [Member]
Finance receivables, net
Accounts receivable	39	90
Deferred retail subvention income	(819)	(875)
Investments in operating leases, net
Investments in operating leases, net	(243)	(212)
Deferred lease subvention income	(760)	(923)
Other assets
Notes receivable	653	789
Other receivables, net	80	80
Other liabilities
Unearned voluntary protection contract revenues and insurance earned premiums	376	374
Other payables, net	364	394
Notes payable	16	8
Commercial paper [Member] \| TMCC-affiliated companies [Member]
Cash and cash equivalents
Cash and cash equivalents	$ 19	$ 100

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Related Party Transactions [Abstract]
Subvention support receivable	$ 68	$ 66

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, 2022	Mar. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	$ 1,217	$ 1,304
Equity investments	3,354	3,649
Investments in marketable securities	4,571	4,953
Investments in marketable securities total	4,571	4,953
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	524	509
Municipal debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	9	10
Corporate debt securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	482	568
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	23	20
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	10
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	83	86
Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	72	78
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	15	23
Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	1,217	1,304
Equity investments	3,354	3,649
Investments in marketable securities	4,571	4,953
Derivative assets	52	61
Counterparty netting and collateral	(1,613)	(1,419)
Assets at fair value	4,623	5,014
Counterparty netting and collateral	2,388	1,514
Liabilities at fair value	0	(25)
Net assets at fair value	4,623	4,989
Investments in marketable securities total	4,571	4,953
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	524	509
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	9	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	482	568
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	23	20
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	9	10
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	83	86
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	72	78
Recurring [Member] \| Fixed income total return bond funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	1,480	1,576
Recurring [Member] \| Equity mutual funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	794	936
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	15	23
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	0	0
Derivative assets	(1,613)	(1,419)
Counterparty netting and collateral	(1,613)	(1,419)
Assets at fair value	(1,613)	(1,419)
Counterparty netting and collateral	2,388	1,514
Liabilities at fair value	2,388	1,514
Net assets at fair value	775	95
Investments in marketable securities total	0	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] \| 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	0
Recurring [Member] \| Foreign currency swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	18	55
Derivative liabilities	(1,370)	(717)
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	1,647	1,425
Derivative liabilities	(1,018)	(822)
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	520	504
Equity investments	2,274	2,512
Investments in marketable securities	2,794	3,016
Derivative assets	0	0
Counterparty netting and collateral	0	0
Assets at fair value	2,794	3,016
Counterparty netting and collateral	0	0
Liabilities at fair value	0	0
Net assets at fair value	2,794	3,016
Investments in marketable securities total	2,794	3,016
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	520	504
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	1,480	1,576
Recurring [Member] \| Level 1 [Member] \| Equity mutual funds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investments	794	936
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	0
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	687	786
Equity investments	0	0
Investments in marketable securities	687	786
Derivative assets	1,665	1,480
Counterparty netting and collateral	0	0
Assets at fair value	2,352	2,266
Counterparty netting and collateral	0	0
Liabilities at fair value	(2,388)	(1,539)
Net assets at fair value	(36)	727
Investments in marketable securities total	687	786
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	4	5
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	9	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	482	568
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	23	20
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	6	7
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	78	78
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	70	75
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 government and agency obligations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	15	23
Recurring [Member] \| Level 2 [Member] \| Foreign currency swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	18	55
Derivative liabilities	(1,370)	(717)
Recurring [Member] \| Level 2 [Member] \| Interest rate swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	1,647	1,425
Derivative liabilities	(1,018)	(822)
Recurring [Member] \| Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, Debt securities	10	14
Equity investments	0	0
Investments in marketable securities	10	14
Derivative assets	0	0
Counterparty netting and collateral	0	0
Assets at fair value	10	14
Counterparty netting and collateral	0	0
Liabilities at fair value	0	0
Net assets at fair value	10	14
Investments in marketable securities total	10	14
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	0	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	3	3
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	5	8
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	2	3
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 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] \| 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	1,080	1,137
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, 2022	Mar. 31, 2022
Unsecured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	$ 81,541
Secured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	28,882
Fair value [Member] \| Unsecured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	79,483	$ 80,980
Fair value [Member] \| Secured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	28,279	26,500
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	79,483	80,980
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	0	0
Fair value [Member] \| Level 3 [Member] \| Secured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities	28,279	26,500
Carrying value [Member] \| Unsecured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities		82,288
Carrying value [Member] \| Secured Notes and Loans Payable [Member]
Financial liabilities
Financial liabilities		26,864
Retail Loan [Member]
Financial assets
Finance receivables, net	74,472
Retail Loan [Member] \| Fair value [Member]
Financial assets
Finance receivables, net	74,886	73,385
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	74,886	73,385
Retail Loan [Member] \| Carrying value [Member]
Financial assets
Finance receivables, net		72,369
Wholesale [Member]
Financial assets
Finance receivables, net	2,995
Wholesale [Member] \| Fair value [Member]
Financial assets
Finance receivables, net	2,981	2,931
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	2,981	2,931
Wholesale [Member] \| Carrying value [Member]
Financial assets
Finance receivables, net		2,940
Real estate [Member]
Financial assets
Finance receivables, net	4,979
Real estate [Member] \| Fair value [Member]
Financial assets
Finance receivables, net	4,967	4,961
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	4,967	4,961
Real estate [Member] \| Carrying value [Member]
Financial assets
Finance receivables, net		4,985
Working capital [Member]
Financial assets
Finance receivables, net	2,557
Working capital [Member] \| Fair value [Member]
Financial assets
Finance receivables, net	2,453	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	$ 2,453	2,171
Working capital [Member] \| Carrying value [Member]
Financial assets
Finance receivables, net		$ 2,256

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Finance receivables from related party	$ 39	$ 90

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Segment Reporting Information [Line Items]
Total financing revenues	$ 2,831	$ 2,999
Depreciation on operating leases	1,409	1,441
Interest expense	563	286
Net financing revenues	859	1,272
Voluntary protection contract revenues and insurance earned premiums	259	249
Investment and other income (loss), net	(306)	156
Net financing revenues and other revenues	812	1,677
Expenses:
Provision for credit losses	78	(3)
Operating and administrative	406	384
Voluntary protection contract expenses and insurance losses	107	108
Total expenses	591	489
Income before income taxes	221	1,188
Provision for income taxes	51	267
Net income	170	921
Total assets	136,132	134,401	$ 135,041
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 (loss), net	0	0
Net financing revenues and other revenues	0	0
Expenses:
Provision for credit losses	0	0
Operating and administrative	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	(135)	(138)
Finance Operations [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total financing revenues	2,831	2,999
Depreciation on operating leases	1,409	1,441
Interest expense	563	286
Net financing revenues	859	1,272
Voluntary protection contract revenues and insurance earned premiums	0	0
Investment and other income (loss), net	33	19
Net financing revenues and other revenues	892	1,291
Expenses:
Provision for credit losses	78	(3)
Operating and administrative	299	292
Voluntary protection contract expenses and insurance losses	0	0
Total expenses	377	289
Income before income taxes	515	1,002
Provision for income taxes	125	221
Net income	390	781
Total assets	130,054	128,015
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	259	249
Investment and other income (loss), net	(339)	137
Net financing revenues and other revenues	(80)	386
Expenses:
Provision for credit losses	0	0
Operating and administrative	107	92
Voluntary protection contract expenses and insurance losses	107	108
Total expenses	214	200
Income before income taxes	(294)	186
Provision for income taxes	(74)	46
Net income	(220)	140
Total assets	$ 6,213	$ 6,524

Segment Information - Additiona

Segment Information - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Unearned voluntary protection contract revenues		$ 2,500
Unearned amounts in voluntary protection contract revenues, recognized	$ 200	$ 192
Other liabilities [Member]
Segment Reporting Information [Line Items]
Unearned voluntary protection contract revenues	$ 2,700		$ 2,500	$ 2,500
Accounting Standards Update 2014-09 [Member]
Segment Reporting Information [Line Items]
Percentage of voluntary protection contract revenues	83%	82%

Segment Information - Additio_2

Segment Information - Additional Information (Details1) $ in Millions	Jun. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-07-01
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation, amount	$ 592
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-07-01
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation, amount	$ 2,200
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months