XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.23.2

SEGMENT INFORMATION (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Segment Reporting [Abstract] |
Summary of Financial Information by Segment | The following table includes the reconciliation of Adjusted EBIT for Industrial Activities to net income, the most comparable U.S. GAAP financial measure, for the three and six months ended June 30, 2023 and 2022.
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
|  | (in millions)
Agriculture |  | $ | 821 |  |  | $ | 663 |  |  | $ | 1,391 |  |  | $ | 1,089 |
Construction |  | 72 |  |  | 34 |  |  | 116 |  |  | 66 |
Unallocated items, eliminations and other |  | (71) |  |  | (43) |  |  | (130) |  |  | (72) |
Total Adjusted EBIT of Industrial Activities |  | 822 |  |  | 654 |  |  | 1,377 |  |  | 1,083 |
Financial Services Net Income |  | 94 |  |  | 95 |  |  | 172 |  |  | 177 |
Financial Services Income Taxes |  | 26 |  |  | 38 |  |  | 55 |  |  | 74 |
Interest expense of Industrial Activities, net of interest income and eliminations |  | (22) |  |  | (35) |  |  | (26) |  |  | (70) |
Foreign exchange gains (losses), net of Industrial Activities |  | — |  |  | 13 |  |  | (6) |  |  | — |
Finance and non-service component of Pension and other post-employment benefit cost of Industrial Activities(1) |  | 1 |  |  | 40 |  |  | 2 |  |  | 77 |
Restructuring expense of Industrial Activities |  | (2) |  |  | (6) |  |  | (3) |  |  | (8) |
Other discrete items of Industrial Activities(2) |  | (17) |  |  | (19) |  |  | (10) |  |  | (58) |
Income (loss) before taxes |  | 902 |  |  | 780 |  |  | 1,561 |  |  | 1,275 |
Income tax (expense) benefit |  | (192) |  |  | (228) |  |  | (365) |  |  | (387) |
Net income (loss) |  | $ | 710 |  |  | $ | 552 |  |  | $ | 1,196 |  |  | $ | 888 |
(1) In the three and six months ended June 30, 2023 and 2022, this item includes the pre-tax gain of $6 million and $12 million as a result of the amortization over the 4 years of the $101 million positive impact from the 2021 modifications of a healthcare plan in the U.S. In the three and six months ended June 30, 2022, this item includes the pre-tax gain of $30 million and $60 million as a result of the 2018 modification of a healthcare plan in the U.S. (2) In the three months ended June 30, 2023 this item included a loss of $17 million related to the sale of CNH Industrial Russia. In the six months ended June 30, 2023 this item included a gain of $13 million in relation to the fair value remeasurement of Augmenta and Bennamann, offset by a $23 million loss on the sale of CNH Industrial Russia and CNH Capital Russia. In the three and six months ended June 30, 2022, this item includes $3 million and $6 million of separation costs incurred in connection with our spin-off of the Iveco Group Business and $16 million and $8 million of loss from the activity of the two Raven businesses held for sale, including the loss on the sale of the Engineered Films division. In the six months ended June 30, 2022, this item also included $44 million of asset write-downs related to our Russian operations.

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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