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Revenue | 12 Months Ended
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Dec. 31, 2020
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue The following tables summarize previously reported revenues for the years ended December 31, 2020, 2019 and 2018:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (in millions)
Agriculture |  | $ | 10,923 |  |  | $ | 10,959 |  |  | $ | 11,682 |
Construction |  | 2,170 |  |  | 2,768 |  |  | 3,021 |
Commercial and Specialty Vehicles |  | 9,421 |  |  | 10,439 |  |  | 10,939 |
Powertrain |  | 3,629 |  |  | 4,117 |  |  | 4,565 |
Eliminations and Other |  | (1,858) |  |  | (2,134) |  |  | (2,376) |
Total Industrial Activities |  | 24,285 |  |  | 26,149 |  |  | 27,831 |
Financial Services |  | 1,823 |  |  | 2,011 |  |  | 1,989 |
Eliminations and Other |  | (76) |  |  | (81) |  |  | (114) |
Total Revenues |  | $ | 26,032 |  |  | $ | 28,079 |  |  | $ | 29,706 |
The following table disaggregates previously reported revenues by major source for the years ended December 31, 2020, 2019 and 2018:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (in millions)
Revenues from: |  |  |  |  |  |
Sales of goods |  | $ | 23,333 |  |  | $ | 25,103 |  |  | $ | 26,838 |
Rendering of services and other revenues |  | 637 |  |  | 660 |  | 527
Rents and other income on assets sold with a buy-back commitment |  | 315 |  |  | 386 |  | 466
Revenues from sales of goods and services |  | $ | 24,285 |  |  | $ | 26,149 |  |  | $ | 27,831 |
Finance and interest income |  | 988 |  |  | 1,164 |  | 1,115
Rents and other income on operating lease |  | 759 |  |  | 766 |  | 760
Finance, interest and other income |  | $ | 1,747 |  |  | $ | 1,930 |  |  | $ | 1,875 |
Total Revenues |  | $ | 26,032 |  |  | $ | 28,079 |  |  | $ | 29,706 |
Contract liabilities recorded in Other liabilities were $1,381 million, $1,236 million and $1,368 million at December 31, 2020, 2019 and 2018, respectively. Contract liabilities primarily relate to extended warranties/maintenance and repair contracts, and transactions for the sale of vehicles with a buy-back commitment. During the year ended December 31, 2020, 2019 and 2018, revenues included $463 million, $508 million and $544 million, respectively, relating to contract liabilities outstanding at the beginning of each period.As of December 31, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $2.2 billion (approximately $2.0 billion at December 31, 2019). CNH Industrial expects to recognize revenue on approximately 32% and 77% of the remaining performance obligations over the next 12 and 36 months, respectively (approximately 39% and 84% as of December 31, 2019, respectively).

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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