(15) Segment Information The Company s reportable segments are based on the two geographic regions where operating results are measured and evaluated by management: the United States and Canada. Segment performance is evaluated using an internal measurement basis, which differs from the Company s consolidated results prepared in accordance with GAAP. Segment performance is evaluated on a pre-tax basis before the effect of valuation adjustments on derivative instruments and revaluations of foreign currency denominated debt. Since the Company does not elect to apply hedge accounting, the impact to earnings resulting from these valuation adjustments as reported under GAAP is not representative of segment performance as evaluated by management. Realized gains and losses on derivative instruments, net of realized gains and losses on foreign currency denominated debt, are included in the measure of net revenues when evaluating segment performance. No adjustments are made to segment performance to allocate any revenues or expenses. Financing products offered throughout the United States and Canada are substantially similar. Segment revenues from the various financing products are reported on the same basis as GAAP consolidated results. Financial information for the Company s reportable segments for the fiscal years ended or at March 31 is summarized in the following tables: Valuation United adjustments and Consolidated States Canada reclassifications Total (U.S. dollars in millions) Year ended March 31, 2015 Revenues: Direct financing leases $ - $ 135 $ - $ 135 Retail 1,104 162 - 1,266 Dealer 103 15 - 118 Operating leases 4,598 244 - 4,842 Total revenues 5,805 556 - 6,361 Depreciation on operating leases 3,637 201 - 3,838 Interest expense 485 95 - 580 Realized (gains)/losses on derivatives and foreign currency denominated debt (5 ) 22 (17 ) - Net revenues 1,688 238 17 1,943 Gain on disposition of lease vehicles 30 7 - 37 Other income 96 2 - 98 Total net revenues 1,814 247 17 2,078 Expenses: General and administrative ex