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EMPLOYEE BENEFIT PLANS AND POSTRETIREMENT BENEFITS (Tables) | 6 Months Ended
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Jun. 30, 2023
Postemployment Benefits [Abstract] |
Summary of Net Periodic Benefit Cost | The following table summarizes the components of net periodic benefit cost of CNH Industrial’s defined benefit pension plans and postretirement health and life insurance plans for the three and six months ended June 30, 2023 and 2022:
| Pension |  | Healthcare |  | Other
| Three Months Ended June 30, |  | Three Months Ended June 30, |  | Three Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
| (in millions)
Service cost | $ | 2 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Interest cost | 13 |  |  | 7 |  |  | 2 |  |  | 2 |  |  | 1 |  |  | — |
Expected return on assets | (11) |  |  | (12) |  |  | — |  |  | (2) |  |  | — |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |
Prior service credit | — |  |  | — |  |  | (9) |  |  | (32) |  |  | — |  |  | — |
Actuarial loss | 5 |  |  | 5 |  |  | — |  |  | 1 |  |  | — |  |  | — |
Net periodic benefit cost | $ | 9 |  |  | $ | 3 |  |  | $ | (7) |  |  | $ | (30) |  |  | $ | 2 |  |  | $ | 1 |
| Pension |  | Healthcare |  | Other
| Six Months Ended June 30, |  | Six Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
| (in millions)
Service cost | $ | 4 |  |  | $ | 6 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 3 |
Interest cost | 27 |  |  | 14 |  |  | 4 |  |  | 3 |  |  | 2 |  |  | — |
Expected return on assets | (22) |  |  | (24) |  |  | (1) |  |  | (3) |  |  | — |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |
Prior service credit | — |  |  | — |  |  | (18) |  |  | (63) |  |  | — |  |  | — |
Actuarial loss | 9 |  |  | 10 |  |  | — |  |  | 1 |  |  | — |  |  | — |
Net periodic benefit cost | $ | 18 |  |  | $ | 6 |  |  | $ | (14) |  |  | $ | (60) |  |  | $ | 4 |  |  | $ | 3 |

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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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