XML 27 R20.htm IDEA: XBRL DOCUMENT
v3.22.1

GOODWILL AND OTHER INTANGIBLES | 3 Months Ended
--- | ---
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLES | GOODWILL AND OTHER INTANGIBLES Changes in the carrying amount of goodwill for the three months ended March 31, 2022 are as follows:
| Agriculture |  | Construction |  | Financial Services |  | Total
| (in millions)
Balance at January 1, 2022 | $ | 3,020 |  |  | $ | 49 |  |  | $ | 141 |  |  | $ | 3,210 |
Foreign currency translation and other | 6 |  |  | (1) |  |  | 1 |  |  | 6 |
Balance at March 31, 2022 | $ | 3,026 |  |  | $ | 48 |  |  | $ | 142 |  |  | $ | 3,216 |
Goodwill and other indefinite-lived intangible assets are tested for impairment annually or more frequently if a triggering event occurs that would indicate it is more likely than not that the fair value of a reporting unit is less than book value. CNH Industrial performed its most recent annual impairment review as of December 31, 2021 and concluded that there was no impairment to goodwill for any of the reporting entities. The acquisitions of Raven and Sampierana during the fourth quarter of 2021 led to an increase in goodwill for Agriculture and Construction of $1.3 billion and $51 million, respectively. Goodwill related to the acquisitions was calculated as the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from the other assets acquired that could not be individually identified and separately recognized. The valuation of assets acquired and liabilities assumed has not yet been finalized as of March 31, 2022. Thus, goodwill associated with the acquisitions is subject to adjustment during the measurement period. As of March 31, 2022 and December 31, 2021, the Company’s other intangible assets and related accumulated amortization consisted of the following:
|  |  | March 31, 2022 |  | December 31, 2021
| Weighted Avg. Life |  | Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
|  |  | (in millions)
Other intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |
Dealer networks | 15 |  | $ | 291 |  |  | $ | 234 |  |  | $ | 57 |  |  | $ | 290 |  |  | $ | 231 |  |  | $ | 59 |
Patents, concessions, licenses and other | 5-25 |  | 1,957 |  |  | 1,107 |  |  | 850 |  |  | 1,973 |  |  | 1,097 |  |  | 876 |
|  |  | 2,248 |  |  | 1,341 |  |  | 907 |  |  | 2,263 |  |  | 1,328 |  |  | 935 |
Other intangible assets not subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  | 272 |  |  | — |  |  | 272 |  |  | 272 |  |  | — |  |  | 272 |
Total Other intangible assets |  |  | $ | 2,520 |  |  | $ | 1,341 |  |  | $ | 1,179 |  |  | $ | 2,535 |  |  | $ | 1,328 |  |  | $ | 1,207 |
During the fourth quarter of 2021, the Company recorded $0.5 billion in intangible assets based on the preliminary valuation for the Raven Industries, Inc. and Sampierana S.p.A. acquisitions. The valuation of assets acquired and liabilities assumed has not yet been finalized as of March 31, 2022. Thus, the intangible assets associated with the acquisitions are subject to adjustment during the measurement period. CNH Industrial recorded amortization expense of $32 million and $19 million for the three months ended March 31, 2022 and 2021, respectivel

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration