Derivative Instruments (Tables)

9 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Balances and Fair Values of Derivatives

The notional balances and fair values of the Company’s derivatives are presented below. The derivative instruments are presented on a gross basis in the Company’s consolidated balance sheets. Refer to Note 12 regarding the valuation of derivative instruments.


	December 31, 2025						March 31, 2025
	Notional balances		Assets		Liabilities		Notional balances		Assets		Liabilities

	(U.S. dollars in millions)
Interest rate swaps	$	75,036	$	351	$	544	$	73,058	$	338	$	676
Cross currency swaps	10,807		547		175		8,225		51		444
Gross derivative assets/liabilities			898		719				389		1,120
Collateral posted/held			24		(3)				43		—
Counterparty netting adjustment			(558)		(558)				(429)		(429)
Net derivative assets/liabilities			$	364	$	158			$	3	$	691

Income Statement Impact of Derivative Instruments

The income statement impact of derivative instruments is presented below. There were no derivative instruments designated as part of a hedge accounting relationship during the periods presented.


	Three months ended December 31,				Nine months ended December 31,
	2025		2024		2025		2024

	(U.S. dollars in millions)
Interest rate swaps	$	(22)	$	7	$	24	$	(26)
Cross currency swaps	(24)		(558)		535		(325)
Total gain/(loss) on derivative instruments	$	(46)	$	(551)	$	559	$	(351)

AMERICAN HONDA FINANCE CORP 10-Q