Form 8-K - Current report

Share Name	Share Symbol	Market	Type
CNH Industrial NV	NYSE:CNH	NYSE	Common Stock

	Price Change	% Change	Share Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%	12.28				0	00:00:00

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 4, 2025

CNH INDUSTRIAL N.V.

(Exact name of registrant as specified in its charter)

Netherlands

001-36085

98-1125413

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)


Cranes Farm Road, Basildon, Essex, SS14 3AD, United Kingdom						N/A
(Address of principal executive offices)						(Zip Code)

+44 2079 251964

Registrant’s telephone number including area code

N/A

(Former name, former address and former fiscal year, if changed since last report):

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Shares, par value €0.01

CNH

New York Stock Exchange

3.850% Notes due 2027

CNH27

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Exchange Act of 1934(§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On February 4, 2025, CNH Industrial N.V. issued a press release announcing its results of operations for the fourth quarter of 2024 and full year 2024. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

On February 4, 2025, CNH Industrial N.V. made available a presentation providing a review and highlights of its fourth quarter of 2024 and full year 2024 results of operations and related information, which is being made available in connection with a February 4, 2025 investor conference call. A copy of that slide presentation is furnished herewith as Exhibit 99.2 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.


Exhibit 99.1			CNH Industrial’s press release dated February 4, 2025, announcing its results of operations for the fourth quarter of 2024
Exhibit 99.2			CNH Industrial N.V. fourth quarter 2024 results review presentation
Exhibit 104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


		CNH INDUSTRIAL N.V.

	By:	/s/ Roberto Russo
	Name:	Roberto Russo
	Title:	Chief Legal and Compliance Officer
Date: February 4, 2025

Exhibit 99.1

CNH Industrial N.V. Reports Fourth Quarter and Full Year 2024 Results

Fourth quarter consolidated revenues declined 28%; full year consolidated revenues declined 20% on lower industry demand for Agriculture and Construction equipment

Fourth quarter net income of $176 million; full year net income of $1,259 million

Full year diluted EPS at $0.99; adjusted diluted EPS at $1.05

Results reflect channel destocking and continued execution of cost savings initiatives

Basildon, UK - February 4, 2025 - CNH Industrial N.V. (NYSE: CNH) today reported results for the three months and twelve months ended December 31, 2024, with Q4 2024 net income of $176 million and diluted earnings per share of $0.14, compared with net income of $583 million and diluted earnings per share of $0.44 in Q4 2023(1). Consolidated revenues were $4.88 billion in the quarter (down 28% compared to Q4 2023) and Net sales of Industrial Activities were $4.13 billion (down 31% compared to Q4 2023). Net cash provided by operating activities was $1,692 million, and Industrial Free Cash Flow was $848 million in Q4 2024.

Full year 2024 consolidated revenues were $19.84 billion, down 20% year-over-year, with Net sales of Industrial Activities at $17.06 billion, down 23%. Full year net income was $1,259 million compared to 2023(1) net income of $2,287 million. Full year diluted earnings per share was $0.99 compared to $1.69 in 2023(1). Adjusted net income was $1,339 million compared to $2,217 million in 2023, with adjusted diluted earnings per share of $1.05 compared to $1.63 in 2023(1). Full year net cash provided by operating activities was $1,968 million and Industrial Free Cash Flow absorption was $401 million.

“I applaud the CNH team’s dedication to achieve the tasks we gave ourselves to close 2024. As intended, Agriculture dealer inventory went down in Q4 by over $700 million due to focused retail sales support and 34% fewer production hours. Our proactive and ongoing efforts to align our business structure with the current industry environment have allowed us to deliver our products with reasonable margin erosion. The challenging market conditions will continue at least through the first half of 2025, and we will keep production levels fairly low by design to drive channel inventory down further. I am confident that our continuing efforts to simplify, streamline, and raise the quality of our operations prepare us well for the regional cycle dynamics ahead.”

Gerrit Marx, Chief Executive Officer

2024 Fourth Quarter Results

(all amounts $ million, comparison vs Q4 2023 - unless otherwise stated)

Please note that in this and in the following tables and commentary, prior periods have been revised to reflect an immaterial correction to the financial statements. See note 1 for further details.


US-GAAP
	Q4 2024	Q4 2023(1)	Change	Change at c.c.(2)
Consolidated revenues	4,876	6,792	(28)%	(26)%
of which Net sales of Industrial Activities	4,129	6,018	(31)%	(30)%
Net income	176	583	(70)%
Diluted EPS $	0.14	0.44	(0.30)
Cash flow provided (used) by operating activities	1,692	1,515	+177
Cash and cash equivalents(3)	3,191	4,322	(1,131)
Gross profit margin of Industrial Activities	19.5%	21.8%	(230) bps


NON-GAAP(4)
	Q4 2024	Q4 2023(1)	Change
Adjusted EBIT of Industrial Activities	194	662	(71)%
Adjusted EBIT margin of Industrial Activities	4.7%	11.0%	(630) bps
Adjusted net income	196	523	(63)%
Adjusted diluted EPS $	0.15	0.39	(0.24)
Free cash flow of Industrial Activities	848	1,630	(782)

The decline in net sales of Industrial Activities was mainly due to lower shipment volumes on decreased industry demand and dealer destocking.

In Q4 2024, adjusted net income was $196 million with adjusted diluted earnings per share of $0.15. In comparison, in Q4 2023, CNH reported adjusted net income of $523 million and adjusted diluted earnings per share of $0.39.

Reported income tax expense was $89 million for the fourth quarter of 2024 ($58 million in Q4 2023), including the combined impact from the derecognition of deferred tax assets in Argentina and the recognition of deferred tax assets in China, with an effective tax rate (ETR) of 36.9% (10.1% in Q4 2023). The adjusted ETR(4) was 34.1% (27.1% in Q4 2023).

Cash flow provided by operating activities in the quarter was $1,692 million ($1,515 million in Q4 2023). Free cash flow of Industrial Activities was $848 million. Consolidated debt was $27 billion as of December 31, 2024 ($27 billion at December 31, 2023).


Agriculture
	Q4 2024	Q4 2023(1)	Change	Change at c.c.(2)
Net sales ($ million)	3,411	4,947	(31)%	(30)%
Gross profit margin	20.6%	23.3%	(270) bps
Adjusted EBIT ($ million)	244	635	(62)%
Adjusted EBIT margin	7.2%	12.8%	(560) bps

In North America, industry volume was down 34% year-over-year in Q4 2024 for tractors over 140 HP and was down 10% for tractors under 140 HP; combines were down 33%. In Europe, Middle East and Africa (EMEA), tractor and combine demand was down 6% and 31%, respectively, of which Europe tractor and combine demand was down 8% and 11%, respectively. South America tractor demand was down 5% and combine demand was down 21%. Asia Pacific tractor demand was up 10%, and combine demand was down 1%.

Agriculture net sales decreased for the quarter by 31% to $3.4 billion primarily due to lower shipment volumes on decreased industry demand across all regions and dealer destocking.

Adjusted EBIT decreased to $244 million ($635 million in Q4 2023), primarily due to lower shipment volumes, partially offset by a continued reduction in SG&A expenses. R&D investments accounted for 6.2% of net sales (5.0% in Q4 2023). Adjusted EBIT margin was 7.2% (12.8% in Q4 2023).


Construction
	Q4 2024	Q4 2023	Change	Change at c.c.(2)
Net sales ($ million)	718	1,071	(33)%	(31)%
Gross profit margin	14.8%	14.8%	— bps
Adjusted EBIT ($ million)	18	62	(71)%
Adjusted EBIT margin	2.5%	5.8%	(330) bps

Global industry volume for construction equipment increased 9% year-over-year in Q4 2024 for Heavy construction equipment; Light construction equipment was down 4%. Aggregated demand was flat in North America, decreased 11% in EMEA, and increased 14% in South America and 8% in Asia Pacific.

Construction net sales decreased for the quarter by 33% to $718 million, due to lower shipment volumes and mix driven by the market decline and dealer destocking, mainly in North America.

Adjusted EBIT decreased to $18 million ($62 million in Q4 2023), as a result of lower shipment volumes and product mix, unfavorable price realization mainly in North America and South America, partially offset by lower production costs and SG&A expenses. Adjusted EBIT margin was 2.5% (5.8% in Q4 2023).


Financial Services
	Q4 2024	Q4 2023	Change	Change at c.c.(2)
Revenues ($ million)	743	768	(3)%	+1%
Net income ($ million)	92	113	(19)%
Equity at quarter-end ($ million)	2,745	2,789	(44)
Retail loan originations ($ million)	3,216	3,412	(196)

Financial Services revenues decreased by 3% as a result of lower equipment sales related to decreased operating lease maturities, and the negative impact from currency translation, partially offset by higher average portfolio balances in all regions (except EMEA) and higher base rates in South America.

Net income was $92 million in the fourth quarter of 2024, a decrease of $21 million compared to the same quarter of 2023, primarily due to increased risk costs in North America and South America, lower recoveries on used equipment sales, partially offset by favorable volumes in all regions except EMEA. In addition, the net income for the quarter is affected by the derecognition of certain tax assets in Argentina ($35 million).

The managed portfolio (including unconsolidated joint ventures) was $27.8 billion as of December 31, 2024 (of which retail was 68% and wholesale 32%), down $1.1 billion compared to December 31, 2023 (up $1.0 billion on a constant currency basis).

At December 31, 2024, the receivable balance greater than 30 days past due as a percentage of receivables was down sequentially to 1.9%, however it was elevated from prior year (1.4% as of December 31, 2023), due to economic and environmental factors impacting farmers, specifically in South America.

Results for the Full Year 2024

(all amounts $ million, comparison vs FY 2023 - unless otherwise stated)


US-GAAP
	FY 2024	FY 2023(1)	Change	Change at c.c.(2)
Consolidated revenues	19,836	24,687	(20)%	(19)%
of which Net sales of Industrial Activities	17,060	22,080	(23)%	(22)%
Net income	1,259	2,287	(45)%
Diluted EPS $	0.99	1.69	(0.70)
Cash flow provided (used) by operating activities	1,968	907	+1,061
Cash and cash equivalents(3)	3,191	4,322	(1,131)
Gross profit margin of Industrial Activities	21.7%	23.7%	(200) bps


NON-GAAP(4)
	FY 2024	FY 2023(1)	Change
Adjusted EBIT of Industrial Activities	1,404	2,634	(47)%
Adjusted EBIT margin of Industrial Activities	8.2%	11.9%	(370) bps
Adjusted net income	1,339	2,217	(40)%
Adjusted diluted EPS $	1.05	1.63	(0.58)
Free cash flow of Industrial Activities	(401)	1,216	(1,617)


Agriculture
	FY 2024	FY 2023(1)	Change	Change at c.c.(2)
Net sales	14,007	18,148	(23)%	(22)%
Gross profit margin	22.9%	25.5%	(260) bps
Adjusted EBIT	1,470	2,636	(44)%
Adjusted EBIT margin	10.5%	14.5%	(400) bps


Construction
	FY 2024	FY 2023	Change	Change at c.c.(2)
Net sales	3,053	3,932	(22)%	(21)%
Gross profit margin	16.3%	15.6%	+70 bps
Adjusted EBIT	169	238	(29)%
Adjusted EBIT margin	5.5%	6.1%	(60) bps

Financial Services

FY 2024

FY 2023

Change

Change at c.c.(2)

Revenues

2,774

2,573

+8%

+10%

Net income

379

371

+2%

2025 Outlook

The Company forecasts that 2025 global industry retail sales will be lower in both the agriculture and construction equipment markets when compared to 2024. In addition, CNH is focused on driving down excess channel inventory primarily by producing fewer units than the retail demand level. Therefore, 2025 net sales will be lower than in 2024.

The lower production and sales levels will negatively impact our segment margin results. However, the Company’s past and ongoing efforts to reduce its operating costs will partially mitigate the margin erosion. CNH is continuing to focus on reducing product costs through lean manufacturing principles and strategic sourcing. The Company will also carefully manage its SG&A and R&D expenses accordingly.

Consequently, the Company is providing the following 2025 outlook:

•Agriculture segment net sales(6) down between 13% and 18% year-over-year, including currency translation effects

•Agriculture segment adjusted EBIT margin between 8.5% and 9.5%

•Construction segment net sales(6) down between 5% and 10% year-over-year, including currency translation effects

•Free Cash Flow of Industrial Activities(7) between $200 million and $500 million

•Adjusted diluted EPS(7) between $0.65 to $0.75

Notes

CNH reports quarterly and annual consolidated financial results under U.S. GAAP and annual consolidated financial results under EU-IFRS. The tables and discussion related to the financial results of the Company and its segments shown in this press release are prepared in accordance with U.S. GAAP.

1.In connection with the preparation of our condensed consolidated financial statements for the three months ended September 30, 2024, we had revised prior periods’ results to reflect an immaterial correction for the accounting treatment related to highly inflationary accounting for our unconsolidated affiliate in Türkiye. CNH owns 37.5% of TürkTraktör ve Ziraat Makineleri A.S. (TTRAK.IS) and accounts for its ownership stake under the equity method. The functional currency of Türkiye-based TürkTraktör is the Turkish lira, and the Türkiye economy was deemed highly inflationary in 2022. CNH has determined that its translation criteria from Turkish lira into CNH’s functional currency of U.S. dollars resulted in an overstatement of CNH’s Equity in income of unconsolidated subsidiaries and affiliates by $96 million in 2023 and by $67 million in the first half of 2024. We have revised our GAAP and Non-GAAP results for all prior periods presented herein. See the supplemental financial information section below for a reconciliation of adjustments to prior reported results.

2.c.c. means at constant currency.

3.Comparison vs. December 31, 2023.

4.This item is a non-GAAP financial measure. Refer to the “Non-GAAP Financial Information” section of this press release for information regarding non-GAAP financial measures. Refer to the specific table in the “Other Supplemental Financial Information” section of this press release for the reconciliation between the non-GAAP financial measure and the most comparable GAAP financial measure.

5.Certain financial information in this report has been presented by geographic area. Our geographical regions are: (a) North America; (b) Europe, Middle East and Africa (“EMEA”); (c) South America and (d) Asia Pacific. The geographic designations have the following meanings:

a.North America: United States, Canada, and Mexico;

b.Europe, Middle East, and Africa: member countries of the European Union, European Free Trade Association, the United Kingdom, Ukraine and Balkans, Russia, Türkiye, Uzbekistan, Pakistan, the African continent, and the Middle East;

c.South America: Central and South America, and the Caribbean Islands; and

d.Asia Pacific: Continental Asia (including the India subcontinent), Indonesia and Oceania.

6.Net sales reflecting the exchange rate of 1.04 EUR/USD.

7.The Company is unable to provide this reconciliation without unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence, the financial impact, and the periods in which the adjustments may be recognized. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.

Non-GAAP Financial Information

CNH monitors its operations through the use of several non-GAAP financial measures. CNH’s management believes that these non-GAAP financial measures provide useful and relevant information regarding its operating results and enhance the readers’ ability to assess CNH’s financial performance and financial position. Management uses these non-GAAP measures to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions as they provide additional transparency with respect to our core operations. These non-GAAP financial measures have no standardized meaning under U.S. GAAP and are unlikely to be comparable to other similarly titled measures used by other companies and are not intended to be substitutes for measures of financial performance and financial position as prepared in accordance with U.S. GAAP.

CNH’s non-GAAP financial measures are defined as follows:

•Adjusted EBIT of Industrial Activities under U.S. GAAP is defined as net income (loss) before the following items: Income taxes, Financial Services’ results, Industrial Activities’ interest expenses, net, foreign exchange gains/losses, finance and non-service component of pension and other post-employment benefit costs, restructuring expenses, and certain non-recurring items. In particular, non-recurring items are specifically disclosed items that management considers rare or discrete events that are infrequent in nature and not reflective of on-going operational activities.

•Adjusted EBIT Margin of Industrial Activities: is computed by dividing Adjusted EBIT of Industrial Activities by Net Sales of Industrial Activities.

•Adjusted Net Income (Loss): is defined as net income (loss), less restructuring charges and non-recurring items, after tax.

•Adjusted Diluted EPS: is computed by dividing Adjusted Net Income (loss) attributable to CNH Industrial N.V. by a weighted-average number of common shares outstanding during the period that takes into consideration potential common shares outstanding deriving from the CNH share-based payment awards, when inclusion is not anti-dilutive. When we provide guidance for adjusted diluted EPS, we do not provide guidance on an earnings per share basis because the GAAP measure will include potentially significant items that have not yet occurred and are difficult to predict with reasonable certainty prior to year-end.

•Adjusted Income Tax (Expense) Benefit: is defined as income taxes less the tax effect of restructuring expenses and non-recurring items, and non-recurring tax charges or benefits.

•Adjusted Effective Tax Rate (Adjusted ETR): is computed by dividing a) adjusted income taxes by b) income (loss) before income taxes and equity in income of unconsolidated subsidiaries and affiliates, less restructuring expenses and non-recurring items.

•Net Cash (Debt) and Net Cash (Debt) of Industrial Activities: Net Cash (Debt) is defined as total debt less intersegment notes receivable, cash and cash equivalents, restricted cash, other current financial assets (primarily current securities, short-term deposits and investments towards high-credit rating counterparties) and derivative hedging debt. CNH provides the reconciliation of Net Cash (Debt) to Total (Debt), which is the most directly comparable measure included in the consolidated balance sheets. Due to different sources of cash flows used for the repayment of the debt between Industrial Activities and Financial Services (by cash from operations for Industrial Activities and by collection of financing receivables for Financial Services), management separately evaluates the cash flow performance of Industrial Activities using Net Cash (Debt) of Industrial Activities.

•Free Cash Flow of Industrial Activities (or Industrial Free Cash Flow): refers to Industrial Activities only, and is computed as consolidated cash flow from operating activities less: cash flow from operating activities of Financial Services; investments of Industrial Activities in assets sold under operating leases, property, plant and equipment and intangible assets; change in derivatives hedging debt of Industrial Activities; as well as other changes and intersegment eliminations.

•Change excl. FX or Constant Currency: CNH discusses the fluctuations in revenues on a constant currency basis by applying the prior year average exchange rates to current year’s revenues expressed in local currency in order to eliminate the impact of foreign exchange rate fluctuations.

The tables attached to this press release provide reconciliations of the non-GAAP measures used in this press release to the most directly comparable GAAP measures.

Forward-looking Statements

All statements other than statements of historical fact contained in this press release including competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, liquidity, capital structure or other financial items; costs; and plans and objectives of management regarding operations and products, are forward-looking statements. Forward-looking statements also include statements regarding the future performance of CNH and its subsidiaries on a standalone basis. These statements may include terminology such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “outlook”, “continue”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “prospects”, “plan”, or similar terminology. Forward-looking statements are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are outside our control and are difficult to predict. If any of these risks and uncertainties materialize (or they occur with a degree of severity that the Company is unable to predict) or other assumptions underlying any of the forward-looking statements prove to be incorrect, including any assumptions regarding strategic plans, the actual results or developments may differ materially from any future results or developments expressed or implied by the forward-looking statements.

Factors, risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others: economic conditions in each of our markets, including the significant uncertainty caused by geopolitical events; production and supply chain disruptions, including industry capacity constraints, material availability, and global logistics delays and constraints; the many interrelated factors that affect consumer confidence and worldwide demand for capital goods and capital goods-related products, changes in government policies regarding banking, monetary and fiscal policy; legislation, particularly pertaining to capital goods-related issues such as agriculture, the environment, debt relief and subsidy program policies, commerce and infrastructure development; government policies on international trade and investment, including sanctions and actions after recent U.S. elections in respect to global trade, tariffs, trade agreements, and the uncertainty of our ability to sell products internationally based on these actions and policies; actions of competitors in the various industries in which we compete; development and use of new technologies and technological difficulties; the interpretation of, or adoption of new, compliance requirements with respect to engine emissions, safety or other aspects of our products; labor relations; interest rates and currency exchange rates; inflation and deflation; energy prices; prices for agricultural commodities and material price increases; housing starts and other construction activity; our ability to obtain financing or to refinance existing debt; price pressure on new and used equipment; the

resolution of pending litigation and investigations on a wide range of topics, including dealer and supplier litigation, intellectual property rights disputes, product warranty and defective product claims, and emissions and/or fuel economy regulatory and contractual issues; security breaches, cybersecurity attacks, technology failures, and other disruptions to the information technology infrastructure of CNH and its suppliers and dealers; security breaches with respect to our products; our pension plans and other post-employment obligations; political and civil unrest; volatility and deterioration of capital and financial markets, including pandemics (such as the COVID-19 pandemic), terrorist attacks in Europe and elsewhere; the remediation of a material weakness; our ability to realize the anticipated benefits from our business initiatives as part of our strategic plan, including targeted restructuring actions to optimize our cost structure and improve the efficiency of our operations; our failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures, strategic alliances or divestitures and other similar risks and uncertainties, and our success in managing the risks involved in the foregoing.

Forward-looking statements are based upon assumptions relating to the factors described in this press release, which are sometimes based upon estimates and data received from third parties. Such estimates and data are often revised. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside CNH's control. CNH expressly disclaims any intention or obligation to provide, update or revise any forward-looking statements in this announcement to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based.

Further information concerning CNH, including factors that potentially could materially affect its financial results, is included in the Company's reports and filings with the U.S. Securities and Exchange Commission ("SEC").

All future written and oral forward-looking statements by CNH or persons acting on the behalf of CNH are expressly qualified in their entirety by the cautionary statements contained herein or referred to above.

Additional factors could cause actual results to differ from those expressed or implied by the forward-looking statements included in the Company’s filings with the SEC (including, but not limited to, the factors discussed in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q).

Conference Call and Webcast

Today, at 9:00 a.m. EST, management will hold a conference call to present fourth quarter and full year 2024 results to financial analysts and institutional investors. The call can be followed live online at bit.ly/CNH_Q4_2024 and a recording will be available later on the Company’s website www.cnh.com A presentation will be made available on the CNH website prior to the conference call.

CONTACTS

Media Inquiries – Laura Overall Tel +44 207 925 1964 or Rebecca Fabian Tel +1 312 515 2249

(Email mediarelations@cnh.com)

Investor Relations – Jason Omerza Tel +1 630 740 8079 or Federico Pavesi Tel +39 345 605 6218

(Email investor.relations@cnh.com)

CNH INDUSTRIAL N.V.

Consolidated Statements of Operations for the three months and years ended December 31, 2024 and 2023

(Unaudited, U.S. GAAP)


	Three Months Ended December 31,		Year Ended December 31,
($ million)	2024	2023	2024	2023
Revenues
Net sales	4,129	6,018	17,060	22,080
Finance, interest and other income	747	774	2,776	2,607
Total Revenues	4,876	6,792	19,836	24,687
Costs and Expenses
Cost of goods sold	3,323	4,705	13,350	16,838
Selling, general and administrative expenses	414	478	1,712	1,863
Research and development expenses	238	275	924	1,041
Restructuring expenses	24	59	118	67
Interest expense	421	404	1,611	1,345
Other, net	215	294	664	830
Total Costs and Expenses	4,635	6,215	18,379	21,984

Income (loss) of Consolidated Group before Income Taxes	241	577	1,457	2,703
Income tax (expense) benefit	(89)	(58)	(336)	(594)
Equity in income (loss) of unconsolidated subsidiaries and affiliates	24	64	138	178
Net Income (loss)	176	583	1,259	2,287
Net income attributable to noncontrolling interests	3	1	13	12
Net Income (loss) attributable to CNH Industrial N.V.	173	582	1,246	2,275

Earnings (loss) per share attributable to CNH Industrial N.V.
Basic	0.14	0.44	0.99	1.71
Diluted	0.14	0.44	0.99	1.69
Weighted average shares outstanding (in millions)
Basic	1,248	1,317	1,254	1,332
Diluted	1,253	1,334	1,260	1,350

Cash dividends declared per common share	—	—	0.470	0.396

These Consolidated Statements of Operations should be read in conjunction with the Company’s Audited Consolidated Financial Statements and Notes for the year ended December 31, 2023 included in the Annual Report on Form 10-K. These Consolidated Statements of Operations represent the consolidation of all CNH Industrial N.V. subsidiaries.

CNH INDUSTRIAL N.V.

Consolidated Balance Sheets as of December 31, 2024 and December 31, 2023

(Unaudited, U.S. GAAP)


($ million)	December 31, 2024	December 31, 2023
Assets
Cash and cash equivalents	3,191	4,322
Restricted cash	675	723
Financing receivables, net	23,085	24,249
Receivables from Iveco Group N.V.	168	380
Inventories, net	4,776	5,545
Property, plant and equipment, net and equipment under operating lease	3,402	3,330
Intangible assets, net	4,805	4,906
Other receivables and assets	2,831	2,812
Total Assets	42,933	46,267
Liabilities and Equity
Debt	26,882	27,326
Payables to Iveco Group N.V.	62	146
Other payables and liabilities	8,221	10,645
Total Liabilities	35,165	38,117
Redeemable noncontrolling interest	55	54
Equity	7,713	8,096
Total Liabilities and Equity	42,933	46,267

These Consolidated Balance Sheets should be read in conjunction with the Company’s Audited Consolidated Financial Statements and Notes for the year ended December 31, 2023 included in the Annual Report on Form 10-K. These Consolidated Balance Sheets represent the consolidation of all CNH Industrial N.V. subsidiaries.

CNH INDUSTRIAL N.V.

Consolidated Statement of Cash Flows for the years ended December 31, 2024 and 2023

(Unaudited, U.S. GAAP)


	Year Ended December 31,
($ million)	2024	2023
Cash Flows from Operating Activities
Net income (loss)	1,259	2,287
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation and amortization expense excluding assets under operating lease	417	377
Depreciation and amortization expense of assets under operating lease	188	187
(Gain) loss from disposal of assets	11	10
Undistributed (income) loss of unconsolidated subsidiaries	(11)	(115)
Other non-cash items	329	173
Changes in operating assets and liabilities:
Provisions	(204)	911
Deferred income taxes	(107)	(535)
Trade and financing receivables related to sales, net	1,015	(2,268)
Inventories, net	787	(259)
Trade payables	(1,186)	(157)
Other assets and liabilities	(530)	296
Net cash provided (used) by operating activities	1,968	907
Cash Flows from Investing Activities
Additions to retail receivables	(8,227)	(8,069)
Collections of retail receivables	6,459	5,824
Proceeds from sale of assets, net of assets sold under operating leases	1	16
Expenditures for property, plant and equipment and intangible assets, net of assets under operating lease	(536)	(644)
Expenditures for assets under operating lease	(650)	(551)
Other	181	(275)
Net cash provided (used) by investing activities	(2,772)	(3,699)
Cash Flows from Financing Activities
Net increase (decrease) in debt	1,242	3,788
Dividends paid	(607)	(538)
Other	(702)	(652)
Net cash provided (used) by financing activities	(67)	2,598
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(308)	110
Net increase (decrease) in cash, cash equivalents and restricted cash	(1,179)	(84)
Cash, cash equivalents and restricted cash, beginning of year	5,045	5,129
Cash, cash equivalents and restricted cash, end of period	3,866	5,045

These Consolidated Statements of Cash Flows should be read in conjunction with the Company’s Audited Consolidated Financial Statements and Notes for the year ended December 31, 2023 included in the Annual Report on Form 10-K. These Consolidated Statements of Cash Flows represent the consolidation of all CNH Industrial N.V. subsidiaries.

CNH INDUSTRIAL N.V.

Supplemental Statements of Operations for the Three Months Ended December 31, 2024 and 2023

(Unaudited, U.S. GAAP)


	Three Months Ended December 31, 2024					Three Months Ended December 31, 2023
($ million)	Industrial Activities(1)	Financial Services	Eliminations		Consolidated	Industrial Activities(1)	Financial Services	Eliminations		Consolidated
Revenues
Net sales	4,129	—	—		4,129	6,018	—	—		6,018
Finance, interest and other income	32	743	(28)	(2)	747	53	768	(47)	(2)	774
Total Revenues	4,161	743	(28)		4,876	6,071	768	(47)		6,792
Costs and Expenses
Cost of goods sold	3,323	—	—		3,323	4,705	—	—		4,705
Selling, general and administrative expenses	351	63	—		414	426	52	—		478
Research and development expenses	238	—	—		238	275	—	—		275
Restructuring expenses	24	—	—		24	57	2	—		59
Interest expense	70	379	(28)	(3)	421	93	358	(47)	(3)	404
Other, net	56	159	—		215	92	202	—		294
Total Costs and Expenses	4,062	601	(28)		4,635	5,648	614	(47)		6,215
Income (loss) of Consolidated Group before Income Taxes	99	142	—		241	423	154	—		577
Income tax (expense) benefit	(34)	(55)	—		(89)	(11)	(47)	—		(58)
Equity in income (loss) of unconsolidated subsidiaries and affiliates	19	5	—		24	58	6	—		64
Net Income (loss)	84	92	—		176	470	113	—		583

(1) Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes the Company’s Agriculture and Construction segments, and other corporate assets, liabilities, revenues and expenses not reflected within Financial Services.

(2) Elimination of Financial Services’ interest income earned from Industrial Activities.

(3) Elimination of Industrial Activities’ interest expense to Financial Services.

CNH INDUSTRIAL N.V.

Supplemental Statements of Operations for the years ended December 31, 2024 and 2023

(Unaudited, U.S. GAAP)


	Year Ended December 31, 2024					Year Ended December 31, 2023
($ million)	Industrial Activities(1)	Financial Services	Eliminations		Consolidated	Industrial Activities(1)	Financial Services	Eliminations		Consolidated
Revenues
Net sales	17,060	—	—		17,060	22,080	—	—		22,080
Finance, interest and other income	130	2,774	(128)	(2)	2,776	206	2,573	(172)	(2)	2,607
Total Revenues	17,190	2,774	(128)		19,836	22,286	2,573	(172)		24,687
Costs and Expenses
Cost of goods sold	13,350	—	—		13,350	16,838	—	—		16,838
Selling, general and administrative expenses	1,380	332	—		1,712	1,645	218	—		1,863
Research and development expenses	924	—	—		924	1,041	—	—		1,041
Restructuring expenses	117	1	—		118	65	2	—		67
Interest expense	282	1,457	(128)	(3)	1,611	282	1,235	(172)	(3)	1,345
Other, net	150	514	—		664	201	629	—		830
Total Costs and Expenses	16,203	2,304	(128)		18,379	20,072	2,084	(172)		21,984
Income (loss) of Consolidated Group before Income Taxes	987	470	—		1,457	2,214	489	—		2,703
Income tax (expense) benefit	(226)	(110)	—		(336)	(458)	(136)	—		(594)
Equity in income (loss) of unconsolidated subsidiaries and affiliates	119	19	—		138	160	18	—		178
Net Income (loss)	880	379	—		1,259	1,916	371	—		2,287

(2) Elimination of Financial Services’ interest income earned from Industrial Activities.

(3) Elimination of Industrial Activities’ interest expense to Financial Services.

CNH INDUSTRIAL N.V.

Supplemental Balance Sheets as of December 31, 2024 and December 31, 2023

(Unaudited, U.S. GAAP)


	December 31, 2024					December 31, 2023
($ million)	Industrial Activities(1)	Financial Services	Eliminations		Consolidated	Industrial Activities(1)	Financial Services	Eliminations		Consolidated
Assets
Cash and cash equivalents	2,332	859	—		3,191	3,532	790	—		4,322
Restricted cash	89	586	—		675	96	627	—		723
Financing receivables, net	218	23,528	(661)	(2)	23,085	393	24,539	(683)	(2)	24,249
Receivables from Iveco Group N.V.	50	118	—		168	302	78	—		380
Inventories, net	4,713	63	—		4,776	5,522	23	—		5,545
Property, plant and equipment, net and equipment on operating lease	1,979	1,423	—		3,402	1,951	1,379	—		3,330
Intangible assets, net	4,643	162	—		4,805	4,739	167	—		4,906
Other receivables and assets	2,653	515	(337)	(3)	2,831	2,622	536	(346)	(3)	2,812
Total Assets	16,677	27,254	(998)		42,933	19,157	28,139	(1,029)		46,267
Liabilities and Equity
Debt	4,499	23,173	(790)	(2)	26,882	4,433	23,721	(828)	(2)	27,326
Payables to Iveco Group N.V.	4	58	—		62	6	140	—		146
Other payables and liabilities	7,151	1,278	(208)	(3)	8,221	9,357	1,489	(201)	(3)	10,645
Total Liabilities	11,654	24,509	(998)		35,165	13,796	25,350	(1,029)		38,117
Redeemable noncontrolling interest	55	—	—		55	54	—	—		54
Equity	4,968	2,745	—		7,713	5,307	2,789	—		8,096
Total Liabilities and Equity	16,677	27,254	(998)		42,933	19,157	28,139	(1,029)		46,267

(2) This item includes the elimination of receivables/payables between Industrial Activities and Financial Services.

(3) This item primarily represents the reclassification of deferred tax assets/liabilities in the same taxing jurisdiction and elimination of intercompany activity between Industrial Activities and Financial Services.

CNH INDUSTRIAL N.V.

Supplemental Statements of Cash Flows for the years ended December 31, 2024 and 2023

(Unaudited, U.S. GAAP)


	Year Ended December 31, 2024					Year Ended December 31, 2023
($ million)	Industrial Activities(1)	Financial Services	Eliminations		Consolidated	Industrial Activities(1)	Financial Services	Eliminations		Consolidated
Cash Flows from Operating Activities
Net income (loss)	880	379	—		1,259	1,916	371	—		2,287
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation and amortization expense excluding assets under operating lease	413	4	—		417	373	4	—		377
Depreciation and amortization expense of assets under operating lease	8	180	—		188	8	179	—		187
(Gain) loss from disposal of assets, net	11	—	—		11	10	—	—		10
Undistributed (income) loss of unconsolidated subsidiaries	291	(19)	(283)	(2)	(11)	(49)	(18)	(48)	(2)	(115)
Other non-cash items, net	63	266	—		329	92	81	—		173
Changes in operating assets and liabilities:
Provisions	(204)	—	—		(204)	908	3	—		911
Deferred income taxes	(38)	(69)	—		(107)	(439)	(96)	—		(535)
Trade and financing receivables related to sales, net	3	1,016	(4)	(3)	1,015	51	(2,325)	6		(2,268)
Inventories, net	472	315	—		787	(695)	436	—		(259)
Trade payables	(1,173)	(17)	4	(3)	(1,186)	(132)	(19)	(6)	(3)	(157)
Other assets and liabilities	(564)	34	—		(530)	94	202	—		296
Net cash provided (used) by operating activities	162	2,089	(283)		1,968	2,137	(1,182)	(48)		907
Cash Flows from Investing Activities
Additions to retail receivables	—	(8,227)	—		(8,227)	—	(8,069)	—		(8,069)
Collections of retail receivables	—	6,459	—		6,459	—	5,824	—		5,824
Proceeds from sale of assets excluding assets sold under operating leases	1	—	—		1	16	—	—		16
Expenditures for property, plant and equipment and intangible assets excluding assets under operating lease	(533)	(3)	—		(536)	(637)	(7)	—		(644)
Expenditures for assets under operating lease	(31)	(619)	—		(650)	(30)	(521)	—		(551)
Other	586	(431)	26		181	191	(677)	211		(275)
Net cash provided (used) by investing activities	23	(2,821)	26		(2,772)	(460)	(3,450)	211		(3,699)
Cash Flows from Financing Activities
Net increase (decrease) in debt	137	1,105	—		1,242	(910)	4,698	—		3,788
Dividends paid	(607)	(283)	283	(2)	(607)	(538)	(48)	48	(2)	(538)
Other	(702)	26	(26)		(702)	(652)	211	(211)		(652)
Net cash provided (used) by financing activities	(1,172)	848	257		(67)	(2,100)	4,861	(163)		2,598
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(220)	(88)	—		(308)	91	19	—		110
Net increase (decrease) in cash, cash equivalents and restricted cash	(1,207)	28	—		(1,179)	(332)	248	—		(84)
Cash, cash equivalents and restricted cash, beginning of year	3,628	1,417	—		5,045	3,960	1,169	—		5,129
Cash, cash equivalents and restricted cash, end of period	2,421	1,445	—		3,866	3,628	1,417	—		5,045

(2) This item includes the elimination of dividends from Financial Services to Industrial Activities, which are included in Industrial Activities net cash used in operating activities.

(3) This item includes the elimination of certain minor activities between Industrial Activities and Financial Services.

Other Supplemental Financial Information

(Unaudited)


Adjusted EBIT of Industrial Activities by Segment
	Three Months Ended December 31,		Year Ended December 31,
($ million)	2024	2023	2024	2023
Industrial Activities segments
Agriculture	244	635	1,470	2,636
Construction	18	62	169	238
Unallocated items, eliminations and other	(68)	(35)	(235)	(240)
Total Adjusted EBIT of Industrial Activities	194	662	1,404	2,634


Reconciliation of Consolidated Net Income under U.S. GAAP to Adjusted EBIT of Industrial Activities
	Three Months Ended December 31,		Year Ended December 31,
($ million)	2024	2023	2024	2023
Net Income	176	583	1,259	2,287
Less: Consolidated income tax expense	(89)	(58)	(336)	(594)
Consolidated income before taxes	265	641	1,595	2,881
Less: Financial Services
Financial Services Net Income	92	113	379	371
Financial Services Income Taxes	55	47	110	136
Add back of the following Industrial Activities items:
Interest expense of Industrial Activities, net of Interest income and eliminations	38	40	152	76
Foreign exchange (gains) losses, net of Industrial Activities	3	78	15	105
Finance and non-service component of Pension and other post-employment benefit costs of Industrial Activities (1)	8	6	10	4
Adjustments for the following Industrial Activities items:
Restructuring expenses	24	57	117	65
Other discrete items(2)	3	—	4	10
Total Adjusted EBIT of Industrial Activities	194	662	1,404	2,634

(1) In the three months ended December 31, 2024 and 2023 this item includes the pre-tax gain of $6 million and $6 million, respectively, as a result of the amortization over the 4 years of the $101 million positive impact from the 2021 U.S. healthcare plan modification. In the year ended December 31, 2024 and 2023 this item includes the pre-tax gain of $24 million and $24 million, respectively, as a result of the amortization over the 4 years of the $101 million positive impact from the 2021 U.S. healthcare plan modification.

(2) In the three months ended December 31, 2024 this item includes a loss of $2 million on the sale of certain non-core product lines. In the year ended December 31, 2024 this item includes a loss of $17 million on the sale of certain non-core product lines and a gain of $14 million for investment fair value adjustments. In the three months ended December 31, 2023 this item did not include any discrete items. In the year ended December 31, 2023 this item includes a loss of $23 million on the sale of the CNH Industrial Russia and CNH Capital Russia businesses, partially offset by a gain of $13 million for the fair value remeasurement of Augmenta and Bennamann.

Other Supplemental Financial Information

(Unaudited)


Reconciliation of Total (Debt) to Net Cash (Debt) under U.S. GAAP
	Consolidated		Industrial Activities		Financial Services
($ million)	December 31, 2024	December 31, 2023	December 31, 2024	December 31, 2023	December 31, 2024	December 31, 2023
Third party (debt)	(26,882)	(27,326)	(4,043)	(4,132)	(22,839)	(23,194)
Intersegment notes payable	—	—	(456)	(301)	(334)	(527)
Payable to Iveco Group N.V.	(62)	(146)	(4)	(6)	(58)	(140)
Total (Debt)(1)	(26,944)	(27,472)	(4,503)	(4,439)	(23,231)	(23,861)
Cash and cash equivalents	3,191	4,322	2,332	3,532	859	790
Restricted cash	675	723	89	96	586	627
Intersegment notes receivable	—	—	334	527	456	301
Receivables from Iveco Group N.V.	168	380	50	302	118	78
Other current financial assets(2)	—	—	—	—	—	—
Derivatives hedging debt	(37)	(41)	(29)	(34)	(8)	(7)
Net Cash (Debt)(3)	(22,947)	(22,088)	(1,727)	(16)	(21,220)	(22,072)

(1) Total (Debt) of Industrial Activities includes Intersegment notes payable to Financial Services of $456 million and $301 million as of December 31, 2024 and December 31, 2023, respectively. Total (Debt) of Financial Services includes Intersegment notes payable to Industrial Activities of $334 million and $527 million as of December 31, 2024 and December 31, 2023, respectively.

(2) This item includes short-term deposits and investments towards high-credit rating counterparties.

(3) The net intersegment receivable/(payable) balance recorded by Financial Services relating to Industrial Activities was $122 million and $(226) million as of December 31, 2024 and December 31, 2023, respectively.


Reconciliation of Net Cash Provided (Used) by Operating Activities to Free Cash Flow of Industrial Activities under U.S. GAAP
Year Ended December 31,			Three Months Ended December 31,
2024	2023	($ million)	2024	2023
1,968	907	Net cash provided (used) by Operating Activities	1,692	1,515
(1,806)	1,230	Cash flows from Operating Activities of Financial Services, net of eliminations	(645)	481
5	9	Change in derivatives hedging debt of Industrial Activities and other	(7)	7
(31)	(30)	Investments in assets sold under operating lease assets of Industrial Activities	(4)	(4)
(533)	(637)	Investments in property, plant and equipment, and intangible assets of Industrial Activities	(204)	(240)
(4)	(263)	Other changes(1)	16	(129)
(401)	1,216	Free cash flow of Industrial Activities	848	1,630

(1) This item primarily includes capital increases in intersegment investments and change in financial receivables.

Other Supplemental Financial Information

(Unaudited)


Reconciliation of Adjusted Net Income and Adjusted Income Tax (Expense) Benefit to Net Income (Loss) and Income Tax (Expense) Benefit and Calculation of Adjusted Diluted EPS and Adjusted ETR under U.S. GAAP
Year Ended December 31,					Three Months Ended December 31,
2024		2023		($ million)	2024		2023
1,259		2,287		Net income (loss)	176		583
97		53		Adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates (a)	20		53
(17)		(123)		Adjustments impacting Income tax (expense) benefit (b)	—		(113)
1,339		2,217		Adjusted net income (loss)	196		523
1,326		2,205		Adjusted net income (loss) attributable to CNH Industrial N.V.	193		522
1,260		1,350		Weighted average shares outstanding – diluted (million)	1,253		1,334
1.05		1.63		Adjusted diluted EPS ($)	0.15		0.39

1,457		2,703		Income (loss) of Consolidated Group before income tax (expense) benefit	241		577
97		53		Adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates (a)	20		53
1,554		2,756		Adjusted income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates (A)	261		630

(336)		(594)		Income tax (expense) benefit	(89)		(58)
(17)		(123)		Adjustments impacting Income tax (expense) benefit (b)	—		(113)
(353)		(717)		Adjusted income tax (expense) benefit (B)	(89)		(171)

22.7	%	26.0	%	Adjusted Effective Tax Rate (Adjusted ETR) (C=B/A)	34.1	%	27.1	%

				a) Adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates
118		67		Restructuring expenses	24		59
(24)		(24)		Pre-tax gain related to the 2021 modification of a healthcare plan in the U.S.	(6)		(6)
—		17		Loss on sale of Industrial Activities, Russia Operations	—		—
—		6		Loss on sale of Financial Services, Russia Operations	—		—
17		—		Sales of certain non-core product lines	2		—
(14)		(13)		Investment fair value adjustments	—		—
97		53		Total	20		53

				b) Adjustments impacting Income tax (expense) benefit
(23)		(24)		Tax effect of adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates	(6)		(14)
6		(99)		Adjustment to valuation allowances on deferred tax assets	6		(99)
(17)		(123)		Total	—		(113)

Other Supplemental Financial Information

(Unaudited)

Revision of Prior Period Financial Statements: In connection with the preparation of our condensed consolidated financial statements for the three months ended September 30, 2024, we had revised prior periods’ results to reflect an immaterial correction for the accounting treatment related to highly inflationary accounting for our unconsolidated affiliate in Türkiye. CNH owns 37.5% of TürkTraktör ve Ziraat Makineleri A.S. (TTRAK.IS) and accounts for its ownership stake under the equity method. The functional currency of Türkiye-based TürkTraktör is the Turkish lira, and the Türkiye economy was deemed highly inflationary in 2022. CNH determined that its translation criteria from Turkish lira into CNH’s functional currency of U.S. dollars resulted in an overstatement of CNH’s Equity in income of unconsolidated subsidiaries and affiliates by $96 million in 2023 and by $67 million in the first half of 2024. Impacts in 2022 were included in the 2023 amount. We have revised our GAAP and Non-GAAP results for all prior periods presented herein.

The prior period impacts to the Company’s consolidated statements of operations and the related impacts to the statements of consolidated comprehensive income are as follows.


	Three Months Ended December 31, 2023						Twelve Months Ended December 31, 2023
($ million, except EPS)	Previously Reported		Revision Impacts		As Revised		Previously Reported		Revision Impacts		As Revised
Income (loss) of Consolidated Group before Income Taxes	$	577	$	—	$	577	$	2,703	$	—	$	2,703
Income tax expense	(58)		—		(58)		(594)		—		(594)
Equity in income of unconsolidated subsidiaries and affiliates	98		(34)		64		274		(96)		178
Net income (loss)	617		(34)		583		2,383		(96)		2,287
Net income (loss) attributable to noncontrolling interests	1		—		1		12		—		12
Net income (loss) attributable to CNH Industrial N.V.	$	616	$	(34)	$	582	$	2,371	$	(96)	$	2,275

Earnings per share attributable to common shareholders
Basic	$	0.47	$	(0.03)	$	0.44	$	1.78	$	(0.07)	$	1.71
Diluted	$	0.46	$	(0.02)	$	0.44	$	1.76	$	(0.07)	$	1.69

The prior period impacts to the Company's Consolidated Balance Sheets are as follows:


	December 31, 2023
($ million)	Previously Reported		Revision Impacts		As Revised
Assets
Investments in unconsolidated subsidiaries and affiliates(1)	563		(84)		479
Total Assets	$	46,351	$	(84)	$	46,267
Liabilities and Equity
Total Liabilities	38,117		—		38,117
Redeemable equity	54		—		54
Retained earnings	9,750		(96)		9,654
Accumulated other comprehensive loss	(2,374)		12		(2,362)
Total Equity	8,180		(84)		8,096
Total Liabilities and Equity	$	46,351	$	(84)	$	46,267

(1) Included in Other Receivables and Assets on the Consolidated Balance Sheets.

Other Supplemental Financial Information

(Unaudited)

The prior period impacts to the Company's Consolidated Statement of Cash Flows are as follows:


	Twelve Months Ended December 31, 2023
($ million)	Previously Reported		Revision Impacts		As Revised
Cash Flows from Operating Activities
Net Income (loss)	$	2,383	$	(96)	$	2,287
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Undistributed income of unconsolidated subsidiaries	(211)		96		(115)
Net cash provided (used) by operating activities	$	907	$	—	$	907

Other Supplemental Financial Information

(Unaudited)


($ million, except EPS)	Q1 2023			Q2 2023			Q3 2023			Q4 2023			FY 2023			Q1 2024			Q2 2024			H1 2024

Equity in income of unconsolidated subsidiaries and affiliates
As reported	$	33		$	64		$	79		$	98		$	274		$	77		$	79		$	156
Revision impacts	(15)			(17)			(30)			(34)			(96)			(33)			(34)			(67)
As revised	$	18		$	47		$	49		$	64		$	178		$	44		$	45		$	89

Net income (loss)
As reported	$	486		$	710		$	570		$	617		$	2,383		$	402		$	438		$	840
Revision impacts	(15)			(17)			(30)			(34)			(96)			(33)			(34)			(67)
As revised	$	471		$	693		$	540		$	583		$	2,287		$	369		$	404		$	773

Net income (loss) attributable to CNH Industrial N.V.
As reported	$	482		$	706		$	567		$	616		$	2,371		$	401		$	433		$	834
Revision impacts	(15)			(17)			(30)			(34)			(96)			(33)			(34)			(67)
As revised	$	467		$	689		$	537		$	582		$	2,275		$	368		$	399		$	767

Earnings per share attributable to CNH Industrial N.V. - Basic
As reported	$	0.36		$	0.53		$	0.43		$	0.47		$	1.78		$	0.32		$	0.34		$	0.66
Revision impacts	(0.01)			(0.02)			(0.03)			(0.03)			(0.07)			(0.03)			(0.02)			(0.05)
As revised	$	0.35		$	0.51		$	0.40		$	0.44		$	1.71		$	0.29		$	0.32		$	0.61

Earnings per share attributable to CNH Industrial N.V. - Diluted
As reported	$	0.35		$	0.52		$	0.42		$	0.46		$	1.76		$	0.31		$	0.34		$	0.66
Revision impacts	(0.01)			(0.01)			(0.02)			(0.02)			(0.07)			(0.02)			(0.02)			(0.05)
As revised	$	0.34		$	0.51		$	0.40		$	0.44		$	1.69		$	0.29		$	0.32		$	0.61

Adjusted net income(1)
As reported	$	475		$	711		$	570		$	557		$	2,313		$	421		$	485		$	906
Revision impacts	(15)			(17)			(30)			(34)			(96)			(33)			(34)			(67)
As revised	$	460		$	694		$	540		$	523		$	2,217		$	388		$	451		$	839

Adjusted diluted EPS(1)
As reported	$	0.35		$	0.52		$	0.42		$	0.42		$	1.70		$	0.33		$	0.38		$	0.71
Revision impacts	(0.01)			(0.01)			(0.02)			(0.03)			(0.07)			(0.03)			(0.03)			(0.05)
As revised	$	0.34		$	0.51		$	0.40		$	0.39		$	1.63		$	0.30		$	0.35		$	0.66

Adjusted EBIT of Industrial Activities(1)
As reported	$	555		$	822		$	657		$	696		$	2,730		$	405		$	536		$	941
Revision impacts	(15)			(17)			(30)			(34)			(96)			(33)			(34)			(67)
As revised	$	540		$	805		$	627		$	662		$	2,634		$	372		$	502		$	874

Adjusted EBIT margin of Industrial Activities(1)
As reported	11.6		%	13.8		%	12.3		%	11.6		%	12.4		%	9.8		%	11.2		%	10.5		%
Revision impacts	(0.3)		%	(0.3)		%	(0.5)		%	(0.6)		%	(0.5)		%	(0.8)		%	(0.7)		%	(0.7)		%
As revised	11.3		%	13.5		%	11.8		%	11.0		%	11.9		%	9.0		%	10.5		%	9.8		%

Other Supplemental Financial Information

(Unaudited)


($ million)	Q1 2023			Q2 2023			Q3 2023			Q4 2023			FY 2023			Q1 2024			Q2 2024			H1 2024

Adjusted EBIT of Agriculture(1)
As reported	$	570		$	821		$	672		$	669		$	2,732		$	421		$	536		$	957
Revision impacts	(15)			(17)			(30)			(34)			(96)			(33)			(34)			(67)
As revised	$	555		$	804		$	642		$	635		$	2,636		$	388		$	502		$	890

Adjusted EBIT Margin of Agriculture(1)
As reported	14.5		%	16.8		%	15.3		%	13.5		%	15.1		%	12.5		%	13.7		%	13.1		%
Revision impacts	(0.4)		%	(0.4)		%	(0.7)		%	(0.7)		%	(0.6)		%	(1.0)		%	(0.9)		%	(0.9)		%
As revised	14.1		%	16.4		%	14.6		%	12.8		%	14.5		%	11.5		%	12.8		%	12.2		%

(1) This is a non-GAAP financial measure. See reconciliation to the most comparable U.S. GAAP financial measure below.

The following table includes the reconciliation of Adjusted EBIT for Industrial Activities to net income, the most comparable U.S. GAAP financial measure:


($ million)	Q1 2023		Q2 2023		Q3 2023		Q4 2023		FY 2023		Q1 2024		Q2 2024		H1 2024

Net Income (loss) - as reported	$	486	$	710	$	570	$	617	$	2,383	$	402	$	438	$	840
Revision impacts	(15)		(17)		(30)		(34)		(96)		(33)		(34)		(67)
Net income (loss) - as revised	471		693		540		583		2,287		369		404		773
Less: Consolidated income tax expense	(173)		(192)		(171)		(58)		(594)		(77)		(95)		(172)
Consolidated income before taxes	644		885		711		641		2,881		446		499		945
Less: Financial Services
Financial Services Net Income	78		94		86		113		371		118		91		209
Financial Services Income Taxes	29		26		34		47		136		19		23		42
Add back of the following Industrial Activities items:
Interest expense of Industrial Activities, net of Interest income and eliminations	4		22		10		40		76		32		46		78
Foreign exchange (gains) losses, net of Industrial Activities	6		—		21		78		105		—		4		4
Finance and non-service component of Pension and other post-employment benefit costs of Industrial Activities	(1)		(1)		—		6		4		1		1		2
Adjustments for the following Industrial Activities items:
Restructuring expenses	1		2		5		57		65		30		51		81
Other discrete items	(7)		17		—		—		10		—		15		15
Total Adjusted EBIT of Industrial Activities	$	540	$	805	$	627	$	662	$	2,634	$	372	$	502	$	874

Other Supplemental Financial Information

(Unaudited)

The following table includes the reconciliation of adjusted net income to net income, the most comparable U.S. GAAP financial measure and a calculation of the revised adjusted diluted EPS:


($ million, except EPS)	Q1 2023		Q2 2023		Q3 2023		Q4 2023		FY 2023		Q1 2024		Q2 2024		H1 2024

Net income (loss) - as reported	$	486	$	710	$	570	$	617	$	2,383	$	402	$	438	$	840
Revision impacts	(15)		(17)		(30)		(34)		(96)		(33)		(34)		(67)
Net income (loss) - as revised	471		693		540		583		2,287		369		404		773
Adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates	(12)		13		(1)		53		53		25		60		85
Adjustments impacting Income tax (expense) benefit	1		(12)		1		(113)		(123)		(6)		(13)		(19)
Adjusted net income (loss)	460		694		540		523		2,217		388		451		839

Adjusted net income (loss) attributable to CNH Industrial N.V. - as reported	471		707		567		556		2,301		420		480		900
Revision impacts	(15)		(17)		(30)		(34)		(96)		(33)		(34)		(67)
Adjusted net income (loss) attributable to CNH Industrial N.V. - as revised	$	456	$	690	$	537	$	522	$	2,205	$	387	$	446	$	833
Weighted average shares outstanding – diluted (million)	1,359		1,355		1,351		1,334		1,350		1,274		1,260		1,267
Adjusted diluted EPS ($)	$	0.34	$	0.51	$	0.40	$	0.39	$	1.63	$	0.30	$	0.35	$	0.66

Q4 2024 RESULTS REVIEW February 4, 2025 Exhibit 99.2

Q4 2024 results review | Feb 4, 20252 SAFE HARBOR STATEMENT AND DISCLOSURES All statements other than statements of historical fact contained in this presentation including competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, liquidity, capital structure or other financial items; costs; and plans and objectives of management regarding operations and products, are forward-looking statements. Forward-looking statements also include statements regarding the future performance of CNH and its subsidiaries on a standalone basis. These statements may include terminology such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “outlook”, “continue”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “prospects”, “plan”, or similar terminology. Forward-looking statements are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are outside our control and are difficult to predict. If any of these risks and uncertainties materialize (or they occur with a degree of severity that the Company is unable to predict) or other assumptions underlying any of the forward-looking statements prove to be incorrect, including any assumptions regarding strategic plans, the actual results or developments may differ materially from any future results or developments expressed or implied by the forward-looking statements. Factors, risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others: economic conditions in each of our markets, including the significant uncertainty caused by geopolitical events; production and supply chain disruptions, including industry capacity constraints, material availability, and global logistics delays and constraints; the many interrelated factors that affect consumer confidence and worldwide demand for capital goods and capital goods-related products, changes in government policies regarding banking, monetary and fiscal policy; legislation, particularly pertaining to capital goods-related issues such as agriculture, the environment, debt relief and subsidy program policies, commerce and infrastructure development; government policies on international trade and investment, including sanctions and actions after recent U.S. elections in respect to global trade, tariffs, trade agreements, and the uncertainty of our ability to sell products internationally based on these actions and policies; actions of competitors in the various industries in which we compete; development and use of new technologies and technological difficulties; the interpretation of, or adoption of new, compliance requirements with respect to engine emissions, safety or other aspects of our products; labor relations; interest rates and currency exchange rates; inflation and deflation; energy prices; prices for agricultural commodities and material price increases; housing starts and other construction activity; our ability to obtain financing or to refinance existing debt; price pressure on new and used equipment; the resolution of pending litigation and investigations on a wide range of topics, including dealer and supplier litigation, intellectual property rights disputes, product warranty and defective product claims, and emissions and/or fuel economy regulatory and contractual issues; security breaches, cybersecurity attacks, technology failures, and other disruptions to the information technology infrastructure of CNH and its suppliers and dealers; security breaches with respect to our products; our pension plans and other post-employment obligations; political and civil unrest; volatility and deterioration of capital and financial markets, including pandemics (such as the COVID-19 pandemic), terrorist attacks in Europe and elsewhere; the remediation of a material weakness; our ability to realize the anticipated benefits from our business initiatives as part of our strategic plan; including targeted restructuring actions to optimize our cost structure and improve the efficiency of our operations; our failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures, strategic alliances or divestitures and other similar risks and uncertainties, and our success in managing the risks involved in the foregoing. Forward-looking statements are based upon assumptions relating to the factors described in this presentation, which are sometimes based upon estimates and data received from third parties. Such estimates and data are often revised. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside CNH’s control. CNH expressly disclaims any intention or obligation to provide, update or revise any forward-looking statements in this announcement to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Further information concerning CNH, including factors that potentially could materially affect its financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission ("SEC"). All future written and oral forward-looking statements by CNH or persons acting on the behalf of CNH are expressly qualified in their entirety by the cautionary statements contained herein or referred to above. Additional factors could cause actual results to differ from those expressed or implied by the forward-looking statements included in the Company’s filings with the SEC (including, but not limited to, the factors discussed in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q). Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are included in this presentation, which is available on our website at www.cnh.com.

Q4 2024 results review | Feb 4, 20253 Q4 2024 | MAIN ACHIEVEMENTS Dealer inventory1 reduced by $700M+ supported by sales campaigns and lower production hours Achieved ~$600M annual run rate savings through operational improvements and restructuring Completed comprehensive review of field issues and launched customer service support plans (1) As independent businesses, dealers control their own inventory

Q4 2024 results review | Feb 4, 20254 Q4 2024 | RESULTS (1) Non-GAAP measures (definition and reconciliation in the appendix) Note: Prior period results have been revised; see details in the appendix Consolidated Revenues $4.9B (28)% Adj. EBIT1 Industrial Activities $194M (71)% Net Income $176M (70)% Diluted EPS $0.14 $(0.30) Net Sales Industrial Activities $4.1B (31)% (630) bps (63)% $(0.24) Adj. EBIT%1 Industrial Activities 4.7% Adjusted Net Income1 $196M Adjusted Diluted EPS1 $0.15 YoY vs Q4 2023

Q4 2024 results review | Feb 4, 20255 FY 2024 | RESULTS (1) Non-GAAP measures (definition and reconciliation in appendix) Note: Prior period results have been revised; see details in the appendix Consolidated Revenues $19.8B (20)% Adj. EBIT1 Industrial Activities $1.4B (47)% Net Income $1.3B (45)% Diluted EPS $0.99 $(0.70) Net Sales Industrial Activities $17.1B (23)% (370)bps (40)% $(0.58) Adj. EBIT%1 Industrial Activities 8.2% Adjusted Net Income1 $1.3B Adjusted Diluted EPS1 $1.05 YoY vs FY 2023

6 Q4 2024 results review | Feb 4, 2025 Prioritized inventory reduction and pricing discipline Successful retail sales campaigns amid overall weak industry demand Ag production hours down 34% YoY as planned Resilient Construction gross margin through cost takeouts Solid Financial Services net income with sound fundamentals Q4 2024 | BUSINESS HIGHLIGHTS

Q4 2024 results review | Feb 4, 20257 $0.39 $1.63 $0.15 $1.05 Q4 FY 1.6 1.2 0.8 (0.4) Q4 FY 0.5 2.2 0.2 1.3 Q4 FY 6.0 22.1 4.1 17.1 Q4 FY Q4 / FY 2024 | FINANCIAL HIGHLIGHTS (1) Non-GAAP measure (definition and reconciliation in appendix) Note: Prior period results have been revised; see details in the appendix Net Sales Industrial Activities Free Cash Flow1 Industrial Activities Adjusted Diluted EPS1 Adjusted Net Income1 ($B, except EPS) -31% -23% -63% -40% -$0.24 -$0.58 -48% n/a 2023 2024 Δ YoY

Q4 2024 results review | Feb 4, 20258 4.9 18.1 3.4 14.0 Q4 FY Q4 / FY 2024 | AGRICULTURE (1) Gross Margin calculated as Gross Profit divided by Net Sales, as shown in the Appendix Note: Prior period results have been revised; see details in the appendix. Numbers may not add due to rounding Net Sales ($B) Gross Margin1 Adjusted EBIT ($M) 2023 Vol. & Mix Pricing, Net Prod. Cost SG&A R&D FX & Other 2024 7.2% 12.8% 23.3% 25.5% 20.6% 22.9% Q4 FY 2023 2024 Δ YoY-31% -23% -2.7pp -2.6pp Q4 2,636 (1,549) 91 107 176 105 (96) 1,470 14.5% 10.5% FY o/w Warranty: Q4 (52) FY (146)

Q4 2024 results review | Feb 4, 20259 1.1 3.9 0.7 3.1 Q4 FY Q4 / FY 2024 | CONSTRUCTION (1) Gross Margin calculated as Gross Profit divided by Net Sales, as shown in the Appendix Note: Numbers may not add due to rounding Net Sales ($B) Gross Margin1 Adjusted EBIT ($M) 2.5% 5.8% 14.8% 15.6%14.8% 16.3% Q4 FY 2023 2024 Δ YoY-33% -22% 0.0pp +0.7pp Q4 FY 2023 Vol. & Mix Pricing, Net Prod. Cost SG&A R&D FX & Other 2024 238 (181) (22) 107 37 9 (19) 169 6.1% 5.5%

Q4 2024 results review | Feb 4, 202510 Q4 retail originations $3.2B, -$0.2B YoY Managed portfolio $27.8B, -$1.1B YoY (+$1.0B @ CC3) Q4 / FY 2024 | FINANCIAL SERVICES (1) Defined as: EBIT / average managed assets annualized (2) Including unconsolidated JVs; (3) At constant currency ($M) Delinquencies on Book (>30 Days) Profitability Ratios Managed Portfolio2 & Retail Originations2 Net Income Portfolio at Dec. 31, 2024 Retail Wholesale Operating Lease 63% 32% 5% Gross Margin / Avg. Assets on Book Return on Assets1 2023 2024 3.2% 3.4% 3.2% 1.7% 2.4% 2.1% 1.0% 2.0% 3.0% 4.0% Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 1.3% 1.4% 1.9% 1.0% 1.5% 2.0% 2.5% 3.0% Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 113 371 92 379 Q4 FY Δ YoY -19% +2%

Q4 2024 results review | Feb 4, 202511 COST REDUCTION ACTIONS Ongoing focus on both COGS and SG&A of Industrial Activities COGS SG&A 2025 Tailwinds & Headwinds ✓ $304M cost out ✓ Manufacturing efficiencies ✓ Material cost control ✓ $186M cost out3 ✓ Restructuring program ✓ Careful management of discretionary spending (1) Cumulative gross savings related to cost initiatives; excludes inflation or FX impacts (2) Reflects range of 2025 production levels (3) 2024 SG&A savings exclude the impact of variable compensation adjustments 2024 Results1 - Manufacturing labor & overhead cost inflation - Uncertainty regarding geopolitical impacts, including tariffs - Return to 100% variable compensation accrual rate - Salaried labor cost inflation + $60-80M2 carryover benefit in 2025 from 2024 actions + No repeat of certain one- time warranty expenses + Continuation of Strategic Sourcing implementation + $40M carryover benefit in 2025 from 2024 actions + Continued focus on budget discipline

Q4 2024 results review | Feb 4, 202512 CAPITAL ALLOCATION PRIORITIES ORGANIC GROWTH Support future growth through operating cash flow reinvestments BALANCE SHEET & CREDIT RATING Sustain healthy liquidity levels and investment grade credit rating SHAREHOLDER RETURNS Maintain a dedicated and consistent dividend and share repurchase policy INORGANIC GROWTH Retain option for disciplined and well-structured M&A

Q4 2024 results review | Feb 4, 202513 2025 OUTLOOK – AGRICULTURE (1) Regional split definition in the appendix (2) Reflects full-year €/$ exchange rate average of 1.04 North America EMEA South America APAC LHP Tractors (10)% – (5)% (5)% – flat flat (5)% – flat HHP Tractors (30)% – (25)% Combines (25)% – (20)% flat – 5% flat (10)% – (5)% Total Industry Unit Forecast1 CNH Agriculture – Main Assumptions 14.0 2024 A 2025 E (18)%-(13)% YoY2 Net Sales: $B & Δ% YoY 10.5%2024 A 2025 E Adj. EBIT Margin 8.5%-9.5% Total Industry Volume % change FY 2025 vs. FY 2024 reflecting the aggregate for key markets where the Company competes.

Q4 2024 results review | Feb 4, 202514 2025 OUTLOOK – CONSTRUCTION (1) Regional split definition in the appendix (2) Reflects full-year €/$ exchange rate average of 1.04 North America EMEA South America APAC Light (10)% – (5)% (5)% – flat flat – 5% (5)% – flat Heavy (10)% – (5)% (5)% – flat flat – 5% (5)% – flat Total Industry Unit Forecast1 CNH Construction – Main Assumptions 3.1 2024 A 2025 E (10)%-(5)% YoY2 5.5%2024 A 2025 E Adj. EBIT Margin 4.0%-5.0% Total Industry Volume % change FY 2025 vs. FY 2024 reflecting the aggregate for key markets where the Company competes. Net Sales: $B & Δ% YoY

Q4 2024 results review | Feb 4, 202515 2025 OUTLOOK – FINANCIAL TARGETS (1) Reflects full-year €/$ exchange rate average of 1.04 (2) Non-GAAP measure (definition in the appendix) 2024 A 2025 E I n d u s tr ia l A c ti v it ie s Net Sales $17.1B (17)-(12)% YoY1 Adj. EBIT margin2 8.2% 6.0% - 7.0% R&D expenses $0.9B ~$0.8B Capex $0.5B ~$0.5B Free Cash Flow2 $(0.4)B $0.2B - $0.5B C o m p a n y Adj. Effective Tax rate2 22.7% 24% - 26% Adj. Diluted EPS2 $1.05 $0.65 - $0.75

Q4 2024 results review | Feb 4, 202516 2025 PRIORITIES & OUTLOOK Closely observing regional demand indicators Production levels to remain fairly low through H1 by design Further improvement of quality and customer service Sustained investments in key technologies Continued focus on sourcing and manufacturing efficiencies Investor Day to be held on May 8 at the NYSE

APPENDIX

Q4 2024 results review | Feb 4, 202518 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4 / FY 2024 | YOY UNIT PERFORMANCE (1) Regional split definition in the slide “Geographic information”; (2) Total Industry Volume % YoY change reflecting the aggregate for key markets where the Company competes; (3) As independent businesses, dealers control their own inventory NORTH AMERICA1 EMEA1 SOUTH AMERICA1 APAC1 Q4 FY Q4 FY Q4 FY Q4 FY 0-140 HP – Small Tractors (10)% (13)% (6)% (13)% (5)% (9)% 10% (1)% 140+ HP – Large Tractors (34)% (16)% Combines (33)% (22)% (31)% (43)% (21)% (31)% (1)% 11% Light 4% (5)% (17)% (19)% 13% 9% (5)% 1% Heavy (11)% (6)% (2)% (3)% 16% 16% 24% 4%T o ta l I n d u s tr y 2 C o m p a n y Tractors Combines Light Heavy Company Inventory Dealer Inventory3 Retail Production

Q4 2024 results review | Feb 4, 202519 Q4 2023 Q4 2024 Δ YoY FY 2023 FY 2024 Δ YoY U.S. GAAP Revenues 6,792 4,876 (28)% 24,687 19,836 (20)% Net Sales | Industrial Activities 6,018 4,129 (31)% 22,080 17,060 (23)% Net Income 583 176 (70)% 2,287 1,259 (45)% Diluted EPS $0.44 $0.14 $(0.30) $1.69 $0.99 $(0.70) Non-GAAP1 Net Sales | Industrial Activities at constant currency 6,018 4,229 (30)% 22,080 17,236 (22)% Adjusted EBIT | Industrial Activities 662 194 (71)% 2,634 1,404 (47)% Adjusted EBIT Margin | Industrial Activities 11.0% 4.7% (630) bps 11.9% 8.2% (370) bps Adjusted Effective Tax Rate 27.1% 34.1% +700 bps 26.0% 22.7% (330) bps Adjusted Net Income 523 196 (63)% 2,217 1,339 (40)% Weighted average shares outstanding - diluted – million 1,334 1,253 (6)% 1,350 1,260 (7)% Adjusted Diluted EPS $0.39 $0.15 $(0.24) $1.63 $1.05 $(0.58) Free Cash Flow | Industrial Activities 1,630 848 (48)% 1,216 (401) (133)% Q4 / FY 2024 | FINANCIAL SUMMARY (1) Non-GAAP measures: definitions in the slide “Non-GAAP Financial Measures”; reconciliations in “Reconciliations” section Note: Prior period results have been revised; see details in the appendix ($M)

Q4 2024 results review | Feb 4, 202520 Q4 2024 | INDUSTRIAL ACTIVITIES NET SALES (1) Net Sales | Excluding Other Activities, Unallocated Items and Adjustment & Eliminations (2) Δ YoY @CC means at constant currency Note: numbers may not add due to rounding Agriculture Construction Industrial Activities1 $3,411M $718M $4,129M (31)% YoY (30)% @CC2 (33)% YoY (31)% @CC2 (31)% YoY (30)% @CC2 By Region as reported By Region as reported By Region as reported 37% 31% 19% 13% 46% 25% 20% 8% 38% 30% 19% 12% 40% 33% 16% 11% 62% 19% 13% 7% 44% 31% 15% 10% By Product as reported By Product as reported By Segment as reported 56% 22% 22% 37% 61% 2% 83% 17% 58% 22% 20% 36% 62% 2% 82% 18% Q4 2023 Q4 2024 Agriculture Construction NA EMEA SA APAC Tractors Combines Others Heavy Light Others NA EMEA SA APAC NA EMEA SA APAC Q4 2024 mix Q4 2023 mix Q4 2024 mix Q4 2023 mix

Q4 2024 results review | Feb 4, 202521 FY 2024 | INDUSTRIAL ACTIVITIES NET SALES (1) Net Sales | Excluding Other Activities, Unallocated Items and Adjustment & Eliminations (2) Δ YoY @CC means at constant currency Note: numbers may not add due to rounding Agriculture Construction Industrial Activities1 $14,007M $3,053M $17,060M (23)% YoY (22)% @CC2 (22)% YoY (21)% @CC2 (23)% YoY (22)% @CC2 By Region as reported By Region as reported By Region as reported 42% 30% 16% 12% 53% 22% 18% 7% 44% 29% 17% 11% 39% 32% 18% 11% 57% 22% 14% 7% 43% 30% 17% 10% By Product as reported By Product as reported By Segment as reported 59% 19% 22% 38% 60% 2% 82% 18% 55% 23% 22% 35% 63% 2% 82% 18% FY 2023 FY 2024 Agriculture Construction NA EMEA SA APAC Tractors Combines Others Heavy Light Others NA EMEA SA APAC NA EMEA SA APAC FY 2024 mix FY 2023 mix FY 2024 mix FY 2023 mix

Q4 2024 results review | Feb 4, 202522 Q4 / FY 2024 | FINANCIALS BY SEGMENT (1) Non-GAAP measure: definition in the slide “Non-GAAP Financial Measures”; reconciliation in “Reconciliations” section Note: Prior period results have been revised; see details in the appendix Revenues & Net Sales Gross Profit Gross Margin Adj. EBIT1 Adj. EBIT Margin1 Q4 23 Q4 24 Q4 23 Q4 24 Q4 23 Q4 24 Q4 23 Q4 24 Q4 23 Q4 24 Agriculture 4,947 3,411 1,154 701 23.3% 20.6% 635 244 12.8% 7.2% Construction 1,071 718 159 106 14.8% 14.8% 62 18 5.8% 2.5% Elimination & Other - - - - - - (35) (68) - - Industrial Activities 6,018 4,129 1,313 807 21.8% 19.5% 662 194 11.0% 4.7% Financial Services 768 743 Elimination & Other 6 4 CNH Industrial 6,792 4,876 ($M) FY 23 FY 24 FY 23 FY 24 FY 23 FY 24 FY 23 FY 24 FY 23 FY 24 Agriculture 18,148 14,007 4,627 3,211 25.5% 22.9% 2,636 1,470 14.5% 10.5% Construction 3,932 3,053 615 499 15.6% 16.3% 238 169 6.1% 5.5% Elimination & Other - - - - - - (240) (235) - - Industrial Activities 22,080 17,060 5,242 3,710 23.7% 21.7% 2,634 1,404 11.9% 8.2% Financial Services 2,573 2,774 Elimination & Other 34 2 CNH Industrial 24,687 19,836

Q4 2024 results review | Feb 4, 202523 Q4 2023 Q4 2024 FY 2023 FY 2024 Investments in property, plant and equipment, and intangible assets 240 204 637 533 Breakdown by Category New Product & Technology 25% 32% 31% 41% Maintenance & Other 68% 61% 61% 53% Industrial Capacity Expansion & LT Investments 7% 7% 8% 6% Breakdown by Segment Agriculture 82% 82% 85% 85% Construction 18% 18% 15% 15% Research and Development 275 238 1,041 924 Total spending (CapEx + R&D) in new products 234 205 849 797 Breakdown by Trend Digital 38% 38% 38% 41% Electric Vehicles and CNG-LNG 10% 9% 10% 8% Other New Program 52% 53% 52% 51% ($M) Q4 / FY 2024 | CAPEX AND R&D Note: numbers may not add due to rounding

Q4 2024 results review | Feb 4, 202524 ($B) Outstanding DeC. 31, 2024 2025 2026 2027 2028 2029 Beyond 3.6 Bank Debt 2.0 0.4 0.2 0.2 0.2 0.6 11.1 Capital Market 2.7 2.5 2.4 1.0 1.7 0.8 0.2 Other Debt 0.2 - - - - - 14.9 Cash Portion of Debt Maturities 4.9 2.9 2.6 1.2 1.9 1.4 of which Industrial Activities 1.0 0.5 1.1 0.1 0.5 0.8 of which Financial Services 3.9 2.3 1.5 1.2 1.4 0.6 3.9 Cash & Cash Equivalents and Restricted Cash 0.7 of which restricted cash 0.1 Net Receivables / (Payables) with Iveco Group 5.5 Undrawn Committed credit lines 9.5 Total Available Liquidity DEBT MATURITY SCHEDULE | BREAKDOWN Note: numbers may not add due to rounding

RECONCILIATIONS

Q4 2024 results review | Feb 4, 202526 Q4 2023 Q4 2024 FY 2023 FY 2024 Net Income 583 176 2,287 1,259 Less: Consolidated income tax expense (58) (89) (594) (336) Consolidated income before taxes 641 265 2,881 1,595 Less: Financial Services Financial Services Net Income 113 92 371 379 Financial Services Income Taxes 47 55 136 110 Add back of the following Industrial Activities items: Interest expense of Industrial Activities, net of Interest income and elim. 40 38 76 152 Foreign exchange (gains) losses, net of Industrial Activities 78 3 105 15 Finance and non-service component of Pension and other post-employment benefit costs of Industrial Activities(1) 6 8 4 10 Adjustments for the following Industrial Activities items: Restructuring expenses 57 24 65 117 Other discrete items(2) - 3 10 4 Total Adjusted EBIT of Industrial Activities 662 194 2,634 1,404 RECONCILIATION OF NET INCOME TO ADJ. EBIT OF INDUSTRIAL ACTIVITIES (1) In Q4 2024 and 2023, this item includes the pre-tax gain of $6M and $6M, respectively, as a result of the amortization over the 4 years of the $101M positive impact from the 2021 U.S. healthcare plan modification. In FY 2024 and 2023 this item includes the pre-tax gain of $24M and $24M, respectively, as a result of the amortization over the 4 years of the $101M positive impact from the 2021 U.S. healthcare plan modification. (2) In Q4 2024 this item includes a loss of $2M on the sale of certain non-core product lines. In FY 2024 this item includes a loss of $17M on the sale of certain non-core product lines and a gain of $14M for investment fair value adjustments. In Q4 2023 this item did not include any discrete items. In FY 2023 this item includes a loss of $23M on the sale of the CNH Industrial Russia and CNH Capital Russia businesses, partially offset by a gain of $13M for the fair value remeasurement of Augmenta and Bennamann. Note: Prior period results have been revised; see details in the appendix ($M)

Q4 2024 results review | Feb 4, 202527 Q4 2023 Q4 2024 FY 2023 FY 2024 Net cash provided by (used in) Operating Activities 1,515 1,692 907 1,968 Cash flows from Operating Activities of Financial Services net of eliminations 481 (645) 1,230 (1,806) Change in derivatives hedging debt of Industrial Activities and other 7 (7) 9 5 Investments in assets sold under operating lease assets of Industrial Activities (4) (4) (30) (31) Investments in property, plant & equipment, and intangible assets of Ind. Act. (240) (204) (637) (533) Other changes(1) (129) 16 (263) (4) Free cash flow of Industrial Activities 1,630 848 1,216 (401) RECONCILIATION OF NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES TO FREE CASH FLOW OF IND. ACTIVITIES UNDER U.S. GAAP (1) This item primarily includes change in intersegment financial receivables and capital increases in intersegment investments. ($M)

Q4 2024 results review | Feb 4, 202528 Q4 2023 Q4 2024 FY 2023 FY 2024 Net income (loss) 583 176 2,287 1,259 Adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates (a) 53 20 53 97 Adjustments impacting Income tax (expense) benefit (b) (113) - (123) (17) Adjusted net income (loss) 523 196 2,217 1,339 Adjusted net income (loss) attributable to CNH Industrial N.V. 522 193 2,205 1,326 Weighted average shares outstanding – diluted (million) 1,334 1,253 1,350 1,260 Adjusted diluted EPS $0.39 $0.15 $1.63 $1.05 Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates 577 241 2,703 1,457 (a) Adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates 53 20 53 97 (A) Adjusted income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates 630 261 2,756 1,554 Income tax (expense) benefit (58) (89) (594) (336) (b) Adjustments impacting Income tax (expense) benefit (113) - (123) (17) (B) Adjusted income tax (expense) benefit (171) (89) (717) (353) Adjusted Effective Tax Rate (Adjusted ETR) (C=B/A) 27.1% 34.1% 26.0% 22.7% (a) Adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates 53 20 53 97 Restructuring expenses 59 24 67 118 Pre-tax gain related to the 2021 modification of a healthcare plan in the U.S. (6) (6) (24) (24) Loss on sale of Industrial Activities / Financial Services, Russia Operations - - 23 - Sale of certain non-core product lines - 2 - 17 Investment fair value adjustments - - (13) (14) (b) Adjustments impacting Income tax (expense) benefit (113) - (123) (17) Tax effect of adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates (14) (6) (24) (23) Adjustment to valuation allowances on deferred tax assets (99) 6 (99) 6 ($M) RECONCILIATION OF ADJ. NET INCOME AND ADJ. INCOME TAX (EXPENSE) BENEFIT TO NET INCOME (LOSS) AND INCOME TAX (EXPENSE) BENEFIT AND CALCULATION OF ADJ. DILUTED EPS AND ADJ. ETR UNDER U.S. GAAP Note: Prior period results have been revised; see details in the appendix

Q4 2024 results review | Feb 4, 202529 The composition of our regions part of the geographic information is as follows: ▪ North America: United States, Canada, and Mexico ▪ Europe, Middle East, and Africa (EMEA): member countries of the European Union, European Free Trade Association, the United Kingdom, Ukraine, Balkans, Russia, Türkiye, Uzbekistan, Pakistan, the African continent, and the Middle East ▪ South America: Central and South America, and the Caribbean Islands ▪ Asia Pacific (APAC): Continental Asia (including the Indian subcontinent), Indonesia and Oceania Industry Data ▪ In this presentation, industry information is generally based on retail unit sales data in North America, on registrations of equipment in most of Europe, Brazil, and various Rest of the World markets, and on retail and shipment unit data collected by a central information bureau appointed by equipment manufacturers associations, including the Association of Equipment Manufacturers’ in North America, the Committee for European Construction Equipment in Europe, the ANFAVEA in Brazil, the Japan Construction Equipment Manufacturers Association, and the Korea Construction Equipment Manufacturers Association, as well as on other shipment data collected by an independent service bureau. ▪ Not all Agricultural or Construction equipment is registered, and registration data may thus underestimate, perhaps substantially, actual retail industry unit sales demand, particularly for local manufacturers in China, Southeast Asia, Eastern Europe, Russia, Turkey, Brazil, and any country where local shipments are not reported. ▪ In addition, there may be a period of time between the shipment, delivery, sale and/or registration of a unit, which must be estimated, in making any adjustments to the shipment, delivery, sale, or registration data to determine our estimates of retail unit data in any period. GEOGRAPHIC INFORMATION

Q4 2024 results review | Feb 4, 202530 CNH monitors its operations through the use of several non-GAAP financial measures. CNH’s management believes that these non-GAAP financial measures provide useful and relevant information regarding its operating results and enhance the readers’ ability to assess CNH’s financial performance and financial position. Management uses these non-GAAP measures to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions as they provide additional transparency with respect to our core operations. These non-GAAP financial measures have no standardized meaning under U.S. GAAP and are unlikely to be comparable to other similarly titled measures used by other companies and are not intended to be substitutes for measures of financial performance and financial position as prepared in accordance with U.S. GAAP. CNH’s non-GAAP financial measures used in this presentation are defined as follows: Adjusted EBIT of Industrial Activities is defined as net income (loss) before income taxes, Financial Services’ results, Industrial Activities’ interest expenses, net, foreign exchange gains/losses, finance and non-service component of pension and other post-employment benefit costs, restructuring expenses, and certain non- recurring items. In particular, non-recurring items are specifically disclosed items that management considers rare or discrete events that are infrequent in nature and not reflective of on-going operational activities. Adjusted EBIT Margin of Industrial Activities is computed by dividing Adjusted EBIT of Industrial Activities by Net Sales of Industrial Activities. Adjusted Net Income (Loss) is defined as net income (loss), less restructuring charges and non-recurring items, after tax. Adjusted Diluted EPS is computed by dividing Adjusted Net Income (loss) attributable to CNH Industrial N.V. by a weighted-average number of common shares outstanding during the period that takes into consideration potential common shares outstanding deriving from the CNH share-based payment awards, when inclusion is not anti-dilutive. When we provide guidance for adjusted diluted EPS, we do not provide guidance on an earnings per share basis because the GAAP measure will include potentially significant items that have not yet occurred and are difficult to predict with reasonable certainty prior to year-end. Adjusted Income Tax (Expense) Benefit is defined as income taxes less the tax effect of restructuring expenses and non-recurring items, and non-recurring tax charges or benefits. Adjusted Effective Tax Rate (Adjusted ETR) is computed by dividing a) adjusted income taxes by b) income (loss) before income taxes and equity in income of unconsolidated subsidiaries and affiliates, less restructuring expenses and non-recurring items. Free Cash Flow of Industrial Activities (or Industrial Free Cash Flow) refers to Industrial Activities only and is computed as consolidated cash flow from operating activities less: cash flow from operating activities of Financial Services; investments of Industrial Activities in assets sold under operating leases, property, plant and equipment and intangible assets; change in derivatives hedging debt of Industrial Activities; as well as other changes and intersegment eliminations. For forecasted information, the Company is unable to provide a reconciliation of this measure without unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence, the financial impact, and the periods in which the adjustments may be recognized. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results. Change excluding FX or Constant Currency refers to the fluctuations in revenues on a constant currency basis by applying the prior year average exchange rates to current year’s revenues expressed in local currency in order to eliminate the impact of foreign exchange rate fluctuations. NON-GAAP FINANCIAL MEASURES

ACCOUNTING REVISION

Q4 2024 results review | Feb 4, 202532 ACCOUNTING REVISION BY QUARTER (1/2) Note: Numbers may not add due to rounding Q1’23 Q2’23 Q3’23 Q4’23 FY 2023 Q1’24 Q2’24 H1 2024 Equity in income of unconsolidated subsidiaries and affiliates As reported 33 64 79 98 274 77 79 156 Revision (15) (17) (30) (34) (96) (33) (34) (67) As revised 18 47 49 64 178 44 45 89 Net income (loss) As reported 486 710 570 617 2,383 402 438 840 Revision (15) (17) (30) (34) (96) (33) (34) (67) As revised 471 693 540 583 2,287 369 404 773 Net income (loss) attributable to CNH Industrial N.V. As reported 482 706 567 616 2,371 401 433 834 Revision (15) (17) (30) (34) (96) (33) (34) (67) As revised 467 689 537 582 2,275 368 399 767 Earnings per share attributable to CNH Industrial N.V. – Basic As reported $0.36 $0.53 $0.43 $0.47 $1.78 $0.32 $0.34 $0.66 Revision $(0.01) $(0.02) $(0.03) $(0.03) $(0.07) $(0.03) $(0.02) $(0.05) As revised $0.35 $0.51 $0.40 $0.44 $1.71 $0.29 $0.32 $0.61 Earnings per share attributable to CNH Industrial N.V. – Diluted As reported $0.35 $0.52 $0.42 $0.46 $1.76 $0.31 $0.34 $0.66 Revision $(0.01) $(0.01) $(0.02) $(0.02) $(0.07) $(0.02) $(0.02) $(0.05) As revised $0.34 $0.51 $0.40 $0.44 $1.69 $0.29 $0.32 $0.61 ($M)

Q4 2024 results review | Feb 4, 202533 ACCOUNTING REVISION BY QUARTER (2/2) (1) non-GAAP financial measure; see reconciliation to the most comparable U.S. GAAP financial measure on the following slides Note: Numbers may not add due to rounding Q1’23 Q2’23 Q3’23 Q4’23 FY 2023 Q1’24 Q2’24 H1 2024 Adjusted net income(1) As reported 475 711 570 557 2,313 421 485 906 Revision (15) (17) (30) (34) (96) (33) (34) (67) As revised 460 694 540 523 2,217 388 451 839 Adjusted diluted EPS(1) As reported $0.35 $0.52 $0.42 $0.42 $1.70 $0.33 $0.38 $0.71 Revision $(0.01) $(0.01) $(0.02) $(0.03) $(0.07) $(0.03) $(0.03) $(0.05) As revised $0.34 $0.51 $0.40 $0.39 $1.63 $0.30 $0.35 $0.66 Adjusted EBIT of Industrial Activities(1) As reported 555 822 657 696 2,730 405 536 941 Revision (15) (17) (30) (34) (96) (33) (34) (67) As revised 540 805 627 662 2,634 372 502 874 Adjusted EBIT margin of Industrial Activities(1) As reported 11.6% 13.8% 12.3% 11.6% 12.4% 9.8% 11.2% 10.5% Revision (0.3)% (0.3)% (0.5)% (0.6)% (0.5)% (0.8)% (0.7)% (0.7)% As revised 11.3% 13.5% 11.8% 11.0% 11.9% 9.0% 10.5% 9.8% Adjusted EBIT of Agriculture As reported 570 821 672 669 2,732 421 536 957 Revision (15) (17) (30) (34) (96) (33) (34) (67) As revised 555 804 642 635 2,636 388 502 890 Adjusted EBIT margin of Agriculture As reported 14.5% 16.8% 15.3% 13.5% 15.1% 12.5% 13.7% 13.1% Revision (0.4)% (0.4)% (0.7)% (0.7)% (0.6)% (1.0)% (0.9)% (0.9)% As revised 14.1% 16.4% 14.6% 12.8% 14.5% 11.5% 12.8% 12.2% ($M)

Q4 2024 results review | Feb 4, 202534 RECONCILIATION OF ADJ. EBIT FOR INDUSTRIAL ACTIVITIES TO NET INCOME Note: Numbers may not add due to rounding Q1’23 Q2’23 Q3’23 Q4’23 FY 2023 Q1’24 Q2’24 H1 2024 Net Income (loss) - as reported 486 710 570 617 2,383 402 438 840 Revision impacts (15) (17) (30) (34) (96) (33) (34) (67) Net income (loss) - as revised 471 693 540 583 2,287 369 404 773 Less: Consolidated income tax expense (173) (192) (171) (58) (594) (77) (95) (172) Consolidated income before taxes 644 885 711 641 2,881 446 499 945 Less: Financial Services Financial Services Net Income 78 94 86 113 371 118 91 209 Financial Services Income Taxes 29 26 34 47 136 19 23 42 Add back of the following I. A. items Interest expense of I.A., net of Interest income and eliminations 4 22 10 40 76 32 46 78 Foreign exch. (gains) losses, net of I.A. 6 - 21 78 105 - 4 4 Finance and non-service comp. of pension & other post-empl. benefit costs of I.A. (1) (1) - 6 4 1 1 2 Adjustments for the following I.A. items Restructuring expenses 1 2 5 57 65 30 51 81 Other discrete items (7) 17 - - 10 - 15 15 Total Adjusted EBIT of Ind. Actitivities 540 805 627 662 2,634 372 502 874 ($M)

Q4 2024 results review | Feb 4, 202535 RECONCILIATION OF ADJUSTED NET INCOME TO NET INCOME AND CALCULATION OF THE RECASTED ADJUSTED DILUTIVE EPS Note: Numbers may not add due to rounding Q1’23 Q2’23 Q3’23 Q4’23 FY 2023 Q1’24 Q2’24 H1 2024 Net Income (loss) - as reported 486 710 570 617 2,383 402 438 840 Revision impacts (15) (17) (30) (34) (96) (33) (34) (67) Net income (loss) - as revised 471 693 540 583 2,287 369 404 773 Adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates (12) 13 (1) 53 53 25 60 85 Adjustments impacting Income tax (expense) benefit 1 (12) 1 (113) (123) (6) (13) (19) Adjusted net income (loss) 460 694 540 523 2,217 388 451 839 Adjusted net income (loss) attributable to CNH Industrial N.V. - as reported 471 707 567 556 2,301 420 480 900 Adjustment (15) (17) (30) (34) (96) (33) (34) (67) Adjusted net income (loss) attributable to CNH Industrial N.V. - as recast 456 690 537 522 2,205 387 446 833 Weighted average shares outstanding - diluted (million) 1,359 1,355 1,351 1,334 1,350 1,274 1,260 1,267 Adjusted diluted EPS $0.34 $0.51 $0.40 $0.39 $1.63 $0.30 $0.35 $0.66 ($M)

INVESTOR RELATIONS CONTACTS investor.relations@cnh.com Jason Omerza +1 (630) 740 8079 | jason.omerza@cnh.com Federico Pavesi +39 (345) 605 6218 | federico.pavesi@cnh.com www.cnh.com

Cover	Feb. 04, 2025
Entity Information [Line Items]
Document Type	8-K
Entity Central Index Key	0001567094
Document Period End Date	Feb. 04, 2025
Entity Registrant Name	CNH INDUSTRIAL N.V.
Entity Incorporation, State or Country Code	P7
Entity File Number	001-36085
Entity Tax Identification Number	98-1125413
Entity Address, Address Line One	Cranes Farm Road
Entity Address, City or Town	Basildon, Essex
Entity Address, Postal Zip Code	SS14 3AD
Entity Address, Country	GB
City Area Code	2079
Local Phone Number	251964
Amendment Flag	false
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Shares, par value €0.01
Trading Symbol	CNH
Security Exchange Name	NYSE
3.850% Notes due 2027
Entity Information [Line Items]
Title of 12(b) Security	3.850% Notes due 2027
Trading Symbol	CNH27
Security Exchange Name	NYSE

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CNH CNH Industrial NV