Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ý Yes o No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). ý Yes o No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). o Yes ý No

As of September 30, 2013, all of the limited liability company interests of the registrant were held by CNH America LLC, a wholly-owned subsidiary of CNH Industrial N.V.

The registrant meets the conditions set forth in General Instruction H(1)(a) and (b) of Form 10-Q and is therefore filing this Form with certain reduced disclosures as permitted by those instructions.

CNH CAPITAL LLC AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2013 AND 2012

(In thousands)

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,

	2013			2012			2013			2012
REVENUES
Interest income on retail and other notes and finance leases	$	65,494		$	61,716		$	189,281		$	178,572
Interest and other income from affiliates		102,153			97,921			300,386			290,971
Rental income on operating leases		34,843			33,674			102,015			99,666
Servicing fee income		141			207			413			801
Other income		15,556			17,541			44,089			50,877

Total revenues		218,187			211,059			636,184			620,887

EXPENSES
Interest expense:
Interest expense to third parties		58,525			52,102			170,543			163,293
Interest expense to affiliates		6,472			9,412			16,861			27,111

Total interest expense		64,997			61,514			187,404			190,404

Administrative and operating expenses:
Fees charged by affiliates		14,082			14,912			44,490			47,195
Provision (benefit) for credit losses, net		1,891			12,080			(5,469	)		15,818
Depreciation of equipment on operating leases		28,553			27,021			83,930			80,415
Other expenses		7,809			8,158			24,884			26,185

Total administrative and operating expenses		52,335			62,171			147,835			169,613

Total expenses		117,332			123,685			335,239			360,017

INCOME BEFORE TAXES		100,855			87,374			300,945			260,870
Income tax provision		35,527			30,423			102,745			91,784

NET INCOME		65,328			56,951			198,200			169,086
Net income attributed to noncontrolling interest		(373	)		(474	)		(1,148	)		(1,226	)

NET INCOME ATTRIBUTABLE TO CNH CAPITAL LLC	$	64,955		$	56,477		$	197,052		$	167,860

See the accompanying Condensed Notes to Consolidated Financial Statements (Unaudited).

CNH CAPITAL LLC AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2013 AND 2012

(In thousands)

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,

	2013			2012			2013			2012
NET INCOME	$	65,328		$	56,951		$	198,200		$	169,086
Other comprehensive income (loss):
Foreign currency translation adjustment		11,959			25,696			(22,155	)		24,692
Pension liability adjustment		101			93			329			283
Change in unrealized gains on retained interests		(276	)		(381	)		(1,566	)		(1,338	)
Change in derivative financial instruments		535			1,140			3,074			3,272

Other comprehensive income (loss)		12,319			26,548			(20,318	)		26,909

COMPREHENSIVE INCOME		77,647			83,499			177,882			195,995
Less: comprehensive income attributable to noncontrolling interest		(373	)		(474	)		(1,148	)		(1,226	)

COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH CAPITAL LLC	$	77,274		$	83,025		$	176,734		$	194,769

See the accompanying Condensed Notes to Consolidated Financial Statements (Unaudited).

	September 30, 2013		December 31, 2012

ASSETS
Cash and cash equivalents	$	231,367	$	785,913
Restricted cash		599,854		727,186
Receivables, less allowance for credit losses of $109,252 and $122,320, respectively		12,654,129		10,732,276
Retained interests in securitized receivables		2,769		9,271
Affiliated accounts and notes receivable		13,971		95,379
Equipment on operating leases, net		885,538		754,371
Equipment held for sale		28,893		46,650
Goodwill		116,542		117,696
Other intangible assets, net		4,060		4,529
Other assets		67,301		73,258

TOTAL	$	14,604,424	$	13,346,529

LIABILITIES AND STOCKHOLDER'S EQUITY
Liabilities:
Short-term debt (including current maturities of long-term debt)	$	4,173,609	$	4,230,237
Accounts payable and other accrued liabilities		501,575		447,298
Affiliated debt		772,689		864,032
Long-term debt		7,694,301		6,321,551

Total liabilities		13,142,174		11,863,118

Commitments and contingent liabilities (Note 10)
Stockholder's equity:
Member's capital		—		—
Paid-in capital		841,897		840,940
Accumulated other comprehensive income		26,330		46,648
Retained earnings		535,907		538,855

Total CNH Capital LLC stockholder's equity		1,404,134		1,426,443
Noncontrolling interest		58,116		56,968

Total stockholder's equity		1,462,250		1,483,411

TOTAL	$	14,604,424	$	13,346,529

See the accompanying Condensed Notes to Consolidated Financial Statements (Unaudited).

The following table presents certain assets and liabilities of consolidated variable interest entities ("VIEs"), which are included in the consolidated balance sheets above. The assets in the table include only those assets that can be used to settle obligations of consolidated VIEs. The liabilities in the table include third-party liabilities of the consolidated VIEs, for which creditors do not have recourse to the general credit of CNH Capital LLC.

	September 30, 2013		December 31, 2012

Restricted cash	$	599,754	$	727,086
Receivables, less allowance for credit losses of $73,867 and $73,891, respectively		9,401,559		8,287,642
Equipment on operating leases, net		123,360		125,003

TOTAL	$	10,124,673	$	9,139,731

Short-term debt (including current maturities of long-term debt)	$	4,080,750	$	4,081,062
Long-term debt		5,599,819		4,729,901

TOTAL	$	9,680,569	$	8,810,963

See the accompanying Condensed Notes to Consolidated Financial Statements (Unaudited).

CNH CAPITAL LLC AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013 AND 2012

(In thousands)

(Unaudited)

	2013			2012

CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	198,200		$	169,086
Adjustments to reconcile net income to net cash from operating activities:
Depreciation on property and equipment and equipment on operating leases		83,955			80,462
Amortization of intangibles		717			763
(Benefit) provision for credit losses, net		(5,469	)		15,818
Deferred income tax expense		2,415			21,729
Stock compensation expense		957			—
Changes in components of working capital:
Decrease in affiliated accounts and notes receivables		81,398			178,433
Decrease in other assets and equipment held for sale		25,603			92,094
Increase (decrease) in accounts payable and other accrued liabilities		55,683			(47,859	)

Net cash from operating activities		443,459			510,526

CASH FLOWS FROM INVESTING ACTIVITIES
Cost of receivables acquired		(14,698,562	)		(13,864,075	)
Collections of receivables		12,708,024			12,237,921
Decrease in restricted cash		122,905			97,290
Purchase of equipment on operating leases		(390,759	)		(308,195	)
Proceeds from disposal of equipment on operating leases		168,359			144,988
Capital expenditures for property and equipment and software		(277	)		(151	)

Net cash used in investing activities		(2,090,310	)		(1,692,222	)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of affiliated debt		1,273,602			1,527,174
Payment of affiliated debt		(1,361,763	)		(1,202,403	)
Proceeds from issuance of long-term debt		4,107,526			3,286,301
Payment of long-term debt		(2,616,635	)		(3,215,636	)
(Decrease) increase in revolving credit facilities, net		(110,425	)		485,089
Dividends paid to CNH America LLC		(200,000	)		—

Net cash from financing activities		1,092,305			880,525

DECREASE IN CASH AND CASH EQUIVALENTS		(554,546	)		(301,171	)
CASH AND CASH EQUIVALENTS:
Beginning of period		785,913			594,093

End of period	$	231,367		$	292,922

CASH PAID DURING THE PERIOD FOR INTEREST	$	163,048		$	186,086

CASH PAID DURING THE PERIOD FOR TAXES	$	98,015		$	74,861

See the accompanying Condensed Notes to Consolidated Financial Statements (Unaudited).

	Company Stockholder

	Member's Capital		Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Retained Earnings			Non- Controlling Interest		Total
BALANCE—January 1, 2012	$	—	$	836,721	$	28,716		$	326,919		$	54,889	$	1,247,245
Net income		—		—		—			167,860			1,226		169,086
Preferred stock issuance		—		—		—			—			434		434
Foreign currency translation adjustment		—		—		24,692			—			—		24,692
Stock compensation		—		3,033		—			—			—		3,033
Pension liability adjustment, net of tax		—		—		283			—			—		283
Change in unrealized gain on retained interests, net of tax		—		—		(1,338	)		—			—		(1,338	)
Change in derivative financial instruments, net of tax		—		—		3,272			—			—		3,272

BALANCE—September 30, 2012	$	—	$	839,754	$	55,625		$	494,779		$	56,549	$	1,446,707

BALANCE—January 1, 2013	$	—	$	840,940	$	46,648		$	538,855		$	56,968	$	1,483,411
Net income		—		—		—			197,052			1,148		198,200
Dividend paid to CNH America LLC		—		—		—			(200,000	)		—		(200,000	)
Foreign currency translation adjustment		—		—		(22,155	)		—			—		(22,155	)
Stock compensation		—		957		—			—			—		957
Pension liability adjustment, net of tax		—		—		329			—			—		329
Change in unrealized gain on retained interests, net of tax		—		—		(1,566	)		—			—		(1,566	)
Change in derivative financial instruments, net of tax		—		—		3,074			—			—		3,074

BALANCE—September 30, 2013	$	—	$	841,897	$	26,330		$	535,907		$	58,116	$	1,462,250

See the accompanying Condensed Notes to Consolidated Financial Statements (Unaudited).

CNH CAPITAL LLC AND SUBSIDIARIES

CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Dollars in thousands)

(Unaudited)

CNH Capital LLC and its wholly-owned operating subsidiaries, including New Holland Credit Company, LLC ("New Holland Credit") and CNH Capital America LLC ("CNH Capital America"), and its majority-owned operating subsidiary CNH Capital Canada Ltd. ("CNH Capital Canada" and, CNH Capital LLC and its subsidiaries collectively, "CNH Capital" or the "Company"), are each a wholly-owned subsidiary of CNH America LLC ("CNH America"), which is an indirect wholly-owned subsidiary of CNH Industrial N.V. ("CNHI" and, together with its consolidated subsidiaries, "CNH Industrial"). CNH America and CNH Canada Ltd. (collectively, "CNH North America") design, manufacture, and sell agricultural and construction equipment. CNH Capital provides financial services for CNH North America customers primarily located in the United States and Canada.

On September 29, 2013, Fiat Industrial S.p.A. and CNH Global N.V., the former indirect parents of CNH Capital, completed a merger to combine their businesses, with CNHI as the surviving entity. As a result of the merger, CNH Capital LLC and its primary operating subsidiaries, including CNH Capital America, New Holland Credit and CNH Capital Canada, have become indirect wholly-owned subsidiaries of CNHI (with all of the equity interests in CNH Capital LLC owned by CNHI through intermediate companies, through which CNHI exercises indirect control over CNH Capital LLC). CNHI is incorporated in and under the laws of The Netherlands. The common shares of CNHI are listed on the New York Stock Exchange under the symbol "CNHI," as well as on the Mercato Telematico Azionario managed by Borsa Italiana S.p.A.

The Company has prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information, which should be read in conjunction with the audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2012. Certain financial information that is normally included in annual financial statements prepared in conformity with U.S. GAAP, but is not required for interim reporting purposes, has been condensed or omitted. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company's interim unaudited financial statements have been reflected.

The consolidated financial statements include the Company and its consolidated subsidiaries. The consolidated financial statements are expressed in U.S. dollars. The consolidated financial statements include the accounts of the Company's subsidiaries in which the Company has a controlling financial interest and reflect the noncontrolling interests of the minority owners of the subsidiaries that are not fully owned for the periods presented, as applicable. A controlling financial interest may exist based on ownership of a majority of the voting interest of a subsidiary, or based on the Company's determination that it is the primary beneficiary of a VIE. The primary beneficiary of a VIE is the party that has the power to direct the activities that most significantly impact the economic performance of the entity and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entity. The Company assesses whether it is the primary beneficiary on an ongoing basis, as prescribed by the accounting guidance on the consolidation of VIEs. The consolidated status of the VIEs with which the Company is involved may change as a result of such reassessments.

The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities

and disclosure of contingent assets and liabilities and reported amounts of revenues and expenses. Significant estimates in these consolidated financial statements include the residual values of equipment on operating leases and allowance for credit losses. Actual results could differ from those estimates.

In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update No. 2013-02 ("ASU 2013-02"), Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income ("AOCI"). Some of the key amendments require the Company to present, either on the face of the statement of operations or in the notes, the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income, but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, the Company is required to cross-reference to other disclosures that provide additional detail about those amounts. ASU 2013-02 became effective for the Company's annual and interim periods beginning January 1, 2013. See Note 3 for additional information.

AOCI is comprised of net income and other adjustments, including foreign currency translation adjustments, pension plan adjustments, changes in fair value of the retained interests in the off-book retail transactions and changes in the fair value of certain derivative financial instruments qualifying as cash flow hedges. The Company does not provide income taxes on currency translation adjustments ("CTA"), as the historical earnings from the Company's foreign subsidiaries are considered to be permanently reinvested. If current year earnings are repatriated, the amount to be repatriated is determined in U.S. dollars and converted to the equivalent amount of foreign currency at the time of repatriation; therefore, the repatriation of current year earnings will not have an impact on the CTA component of the Company's AOCI balance.

The following table summarizes the change in the components of the Company's AOCI balance and related tax effects for the three months ended September 30, 2013:

	Currency Translation Adjustment		Pension Liability			Unrealized Gains on Retained Interests			Unrealized Losses on Derivatives			Total

Beginning balance, gross	$	24,806	$	(8,475	)	$	941		$	(9,373	)	$	7,899
Tax asset (liability)		—		3,155			(355	)		3,312			6,112

Beginning balance, net of tax		24,806		(5,320	)		586			(6,061	)		14,011
Other comprehensive income before reclassifications		11,959		—			28			(597	)		11,390
Amounts reclassified from accumulated other comprehensive income		—		162			(471	)		1,514			1,205
Tax effects		—		(61	)		167			(382	)		(276	)

Net current-period other comprehensive income		11,959		101			(276	)		535			12,319

BALANCE—September 30, 2013	$	36,765	$	(5,219	)	$	310		$	(5,526	)	$	26,330

The following table summarizes the change in the components of the Company's AOCI balance and related tax effects for the nine months ended September 30, 2013:

	Currency Translation Adjustment			Pension Liability			Unrealized Gains on Retained Interests			Unrealized Losses on Derivatives			Total

Beginning balance, gross	$	58,920		$	(8,834	)	$	3,012		$	(13,219	)	$	39,879
Tax asset (liability)		—			3,286			(1,136	)		4,619			6,769

Beginning balance, net of tax		58,920			(5,548	)		1,876			(8,600	)		46,648
Other comprehensive income before reclassifications		(22,155	)		—			(368	)		(31	)		(22,554	)
Amounts reclassified from accumulated other comprehensive income		—			521			(2,146	)		4,793			3,168
Tax effects		—			(192	)		948			(1,688	)		(932	)

Net current-period other comprehensive income		(22,155	)		329			(1,566	)		3,074			(20,318	)

BALANCE—September 30, 2013	$	36,765		$	(5,219	)	$	310		$	(5,526	)	$	26,330

The reclassifications out of AOCI and the location on the consolidated statements of income for the three and nine months ended September 30, 2013 are as follows:

	Amounts Reclassified from AOCI

Details about AOCI Components	Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013			Affected Line Item
Amortization of defined benefit pension items:
Insignificant items	$	(162	)	$	(521	)

		(162	)		(521	)	Income before taxes
		61			192		Income tax benefit

	$	(101	)	$	(329	)	Net of tax

Unrealized gains on retained interests:
	$	471		$	2,146		Other income

		471			2,146		Income before taxes
		(177	)		(809	)	Income tax provision

	$	294		$	1,337		Net of tax

Unrealized losses on derivatives:
	$	(1,514	)	$	(4,793	)	Interest expense to third parties

		(1,514	)		(4,793	)	Income before taxes
		538			1,696		Income tax benefit

	$	(976	)	$	(3,097	)	Net of tax

A summary of receivables included in the consolidated balance sheets as of September 30, 2013 and December 31, 2012 is as follows:

	September 30, 2013			December 31, 2012

Retail note receivables	$	829,816		$	903,644
Wholesale receivables		511,233			88,763
Finance lease receivables		57,524			62,615
Restricted receivables		11,077,753			9,573,535
Commercial revolving accounts receivables		287,055			226,039

Gross receivables		12,763,381			10,854,596
Less: allowance for credit losses		(109,252	)		(122,320	)

Total receivables, net	$	12,654,129		$	10,732,276

As part of its overall funding strategy, the Company periodically transfers certain financial receivables into VIEs that are special purpose entities ("SPEs") as part of its asset-backed securitization programs.

SPEs utilized in the securitization programs differ from other entities included in the Company's consolidated financial statements because the assets they hold are legally isolated from the Company's assets. For bankruptcy analysis purposes, the Company has sold the receivables to the SPEs in a true sale and the SPEs are separate legal entities. Upon transfer of the receivables to the SPEs, the receivables and certain cash flows derived from them become restricted for use in meeting obligations to the SPEs' creditors. The SPEs have ownership of cash balances that also have restrictions for the benefit of the SPEs' investors. The Company's interests in the SPEs' receivables are subordinate to the interests of third-party investors. None of the receivables that are directly or indirectly sold or transferred in any of these transactions are available to pay the Company's creditors until all obligations of the SPE have been fulfilled or the receivables are removed from the SPE.

The secured borrowings related to the restricted receivables are obligations that are payable as the receivables are collected.

The following table summarizes the restricted and off-book receivables and the related retained interests as of September 30, 2013 and December 31, 2012:

Within the U.S. retail receivables securitization programs, qualifying retail receivables are sold to limited purpose, bankruptcy-remote SPEs. In turn, these SPEs establish separate trusts to which the receivables are transferred in exchange for proceeds from asset-backed securities issued by the trusts. In Canada, the receivables are transferred directly to the trusts. These trusts were determined to be VIEs. In its role as servicer, CNH Capital has the power to direct the trusts' activities. Through its retained interests, the Company has an obligation to absorb certain losses, or the right to receive certain benefits, that could potentially be significant to the trusts. Consequently, the Company has consolidated these retail trusts.

The receivables related to three private retail transactions totaling $18,474 and $47,367 were not included in the Company's consolidated balance sheets as of September 30, 2013 and December 31, 2012, respectively.

With regard to the wholesale receivable securitization programs, the Company sells certain eligible receivables on a revolving basis to structured master trust facilities which are limited-purpose, bankruptcy-remote SPEs. These trusts were determined to be VIEs. In its role as servicer, CNH Capital has the power to direct the trusts' activities. Through its retained interests, the Company provides security to investors in the event that cash collections from the receivables are not sufficient to make principal and interest payments on the securities. Consequently, CNH Capital has consolidated these wholesale trusts.

The allowance for credit losses is the Company's estimate of probable losses for receivables owned by the Company and consists of two components, depending on whether the receivable has been individually identified as being impaired. The first component of the allowance for credit losses covers the receivables specifically reviewed by management for which the Company has determined it is probable that it will not collect all of the contractual principal and interest. Receivables are individually reviewed for impairment based on, among other items, amounts outstanding, days past due and prior collection history. These receivables are subject to impairment measurement at the loan level based either on the present value of expected future cash flows discounted at the receivables' effective interest rate or the fair value of the collateral for collateral-dependent receivables.

The second component of the allowance for credit losses covers all receivables that have not been individually reviewed for impairment. The allowance for these receivables is based on aggregated portfolio evaluations, generally by financial product. The allowance for retail credit losses is based on loss forecast models that consider a variety of factors that include, but are not limited to, historical loss experience, collateral value, portfolio balance and delinquency. The allowance for wholesale credit losses is based on loss forecast models that consider the same factors as the retail models plus dealer risk ratings. The loss forecast models are updated on a quarterly basis. In addition, qualitative factors that are not fully captured in the loss forecast models, including industry trends, and macroeconomic factors are considered in the evaluation of the adequacy of the allowance for credit losses. These qualitative factors are subjective and require a degree of management judgment.

Charge-offs of principal amounts of receivables outstanding are deducted from the allowance at the point when it is determined to be probable that all amounts due will not be collected.

The Company's allowance for credit losses is segregated into three portfolio segments: retail, wholesale and other. A portfolio segment is the level at which the Company develops a systematic methodology for determining its allowance for credit losses. The retail segment includes retail notes and finance lease receivables. The wholesale segment includes wholesale financing to CNH North America dealers, and the other portfolio includes the Company's commercial revolving accounts.

Further, the Company evaluates its portfolio segments by class of receivable: United States and Canada. Typically, the Company's receivables within a geographic area have similar risk profiles and methods for assessing and monitoring risk. These classes align with management reporting.

Allowance for credit losses activity for the three months ended September 30, 2013 is as follows:

	Retail			Wholesale		Other			Total

Allowance for credit losses:
Beginning balance	$	93,702		$	7,661	$	8,056		$	109,419
Charge-offs		(2,567	)		—		(1,478	)		(4,045	)
Recoveries		1,100			332		754			2,186
(Benefit) provision		(530	)		1,177		1,244			1,891
Foreign currency translation and other		(238	)		26		13			(199	)

Ending balance	$	91,467		$	9,196	$	8,589		$	109,252

Allowance for credit losses activity for the nine months ended September 30, 2013 is as follows:

	Retail			Wholesale			Other			Total

Allowance for credit losses:
Beginning balance	$	102,560		$	11,887		$	7,873		$	122,320
Charge-offs		(7,819	)		(127	)		(4,407	)		(12,353	)
Recoveries		2,882			573			2,349			5,804
(Benefit) provision		(5,166	)		(3,102	)		2,799			(5,469	)
Foreign currency translation and other		(990	)		(35	)		(25	)		(1,050	)

Ending balance	$	91,467		$	9,196		$	8,589		$	109,252

Ending balance: individually evaluated for impairment	$	19,213		$	5,939		$	—		$	25,152

Ending balance: collectively evaluated for impairment	$	72,254		$	3,257		$	8,589		$	84,100

Receivables:
Ending balance	$	8,157,358		$	4,318,968		$	287,055		$	12,763,381

Ending balance: individually evaluated for impairment	$	42,064		$	30,274		$	—		$	72,338

Ending balance: collectively evaluated for impairment	$	8,115,294		$	4,288,694		$	287,055		$	12,691,043

Allowance for credit losses activity for the three months ended September 30, 2012 is as follows:

Allowance for credit losses activity for the nine months ended September 30, 2012 is as follows:

	Retail			Wholesale			Other			Total

Allowance for credit losses:
Beginning balance	$	83,233		$	12,163		$	11,277		$	106,673
Charge-offs		(24,456	)		(136	)		(6,220	)		(30,812	)
Recoveries		3,942			166			2,396			6,504
Provision		9,524			2,808			3,486			15,818
Foreign currency translation and other		49			74			45			168

Ending balance	$	72,292		$	15,075		$	10,984		$	98,351

Ending balance: individually evaluated for impairment	$	27,878		$	11,259		$	—		$	39,137

Ending balance: collectively evaluated for impairment	$	44,414		$	3,816		$	10,984		$	59,214

Receivables:
Ending balance	$	6,963,049		$	3,907,828		$	314,260		$	11,185,137

Ending balance: individually evaluated for impairment	$	51,482		$	81,935		$	—		$	133,417

Ending balance: collectively evaluated for impairment	$	6,911,567		$	3,825,893		$	314,260		$	11,051,720

Allowance for credit losses activity for the year ended December 31, 2012 is as follows:

	Retail			Wholesale			Other			Total

Allowance for credit losses:
Beginning balance	$	83,233		$	12,163		$	11,277		$	106,673
Charge-offs		(28,238	)		(1,857	)		(7,906	)		(38,001	)
Recoveries		5,206			312			3,276			8,794
Provision		42,135			1,245			1,198			44,578
Foreign currency translation and other		224			24			28			276

Ending balance	$	102,560		$	11,887		$	7,873		$	122,320

Ending balance: individually evaluated for impairment	$	28,266		$	9,512		$	—		$	37,778

Ending balance: collectively evaluated for impairment	$	74,294		$	2,375		$	7,873		$	84,542

Receivables:
Ending balance	$	7,363,384		$	3,265,173		$	226,039		$	10,854,596

Ending balance: individually evaluated for impairment	$	48,195		$	61,752		$	—		$	109,947

Ending balance: collectively evaluated for impairment	$	7,315,189		$	3,203,421		$	226,039		$	10,744,649

Utilizing an internal credit scoring model, which considers customers' attributes, prior credit history and each retail transaction's attributes, the Company assigns a credit quality rating to each retail customer, by specific transaction, as part of the retail underwriting process. This rating is used in setting the terms on the transaction, including the interest rate. The credit quality rating is not updated after the transaction is finalized. A description of the general characteristics of the customers' risk grades is as follows:

Titanium—Customers from whom the Company expects no collection or loss activity.

Platinum—Customers from whom the Company expects minimal, if any, collection or loss activity.

Gold, Silver, Bronze—Customers defined as those with the potential for collection or loss activity.

A breakdown of the retail portfolio by the customer's risk grade at the time of origination as of September 30, 2013 and December 31, 2012 is as follows:

As part of the ongoing monitoring of the credit quality of the wholesale portfolio, the Company utilizes an internal credit scoring model that assigns a risk grade for each dealer. The scoring model considers the strength of the dealer's financial condition and payment history. The Company considers the dealers' ratings in the quarterly credit allowance analysis. A description of the general characteristics of the dealer risk grades is as follows:

Grades A and B—Includes receivables due from dealers that have significant capital strength, moderate leverage, stable earnings and growth, and excellent payment performance.

Grade C—Includes receivables due from dealers with moderate credit risk. Dealers of this grade are differentiated from higher grades on a basis of leverage or payment performance.

Grade D—Includes receivables due from dealers with additional credit risk. These dealers require additional monitoring due to their weaker financial condition or payment performance.

A breakdown of the wholesale portfolio by its credit quality indicators as of September 30, 2013 and December 31, 2012 is as follows:

The following tables present information at the level at which management assesses and monitors its credit risk. Receivables are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Delinquency is reported on receivables greater than 30 days past due.

The aging of receivables as of September 30, 2013 and December 31, 2012 is as follows:

	September 30, 2013

	31 - 60 Days Past Due		61 - 90 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Receivables		Recorded Investment > 90 Days and Accruing
Retail
United States	$	18,337	$	4,393	$	15,789	$	38,519	$	6,712,737	$	6,751,256	$	3,808
Canada	$	3,944	$	483	$	238	$	4,665	$	1,401,437	$	1,406,102	$	215
Wholesale
United States	$	1,012	$	1	$	487	$	1,500	$	3,495,050	$	3,496,550	$	161
Canada	$	139	$	9	$	163	$	311	$	822,107	$	822,418	$	36
Total
Retail	$	22,281	$	4,876	$	16,027	$	43,184	$	8,114,174	$	8,157,358	$	4,023
Wholesale	$	1,151	$	10	$	650	$	1,811	$	4,317,157	$	4,318,968	$	197

	December 31, 2012

	31 - 60 Days Past Due		61 - 90 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Receivables		Recorded Investment > 90 Days and Accruing
Retail
United States	$	18,676	$	4,972	$	21,736	$	45,384	$	6,047,807	$	6,093,191	$	2,994
Canada	$	1,941	$	326	$	387	$	2,654	$	1,267,539	$	1,270,193	$	265
Wholesale
United States	$	514	$	28	$	580	$	1,122	$	2,512,270	$	2,513,392	$	130
Canada	$	284	$	11	$	783	$	1,078	$	750,703	$	751,781	$	313
Total
Retail	$	20,617	$	5,298	$	22,123	$	48,038	$	7,315,346	$	7,363,384	$	3,259
Wholesale	$	798	$	39	$	1,363	$	2,200	$	3,262,973	$	3,265,173	$	443

Impaired receivables are receivables for which the Company has determined it will not collect all the principal and interest payments as per the terms of the contract. As of September 30, 2013 and

December 31, 2012, the Company's recorded investment in impaired receivables individually evaluated for impairment and the related unpaid principal balances and allowances are as follows:

	September 30, 2013						December 31, 2012

	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded
Retail
United States	$	8,006	$	7,915	$	—	$	5,614	$	5,597	$	—
Canada	$	2,065	$	2,067	$	—	$	—	$	—	$	—
Wholesale
United States	$	—	$	—	$	—	$	—	$	—	$	—
Canada	$	—	$	—	$	—	$	—	$	—	$	—
With an allowance recorded
Retail
United States	$	31,411	$	30,050	$	19,030	$	42,581	$	37,475	$	28,266
Canada	$	582	$	576	$	183	$	—	$	—	$	—
Wholesale
United States	$	27,082	$	25,852	$	5,527	$	58,826	$	58,329	$	9,000
Canada	$	3,192	$	3,177	$	412	$	2,926	$	2,846	$	512
Total
Retail	$	42,064	$	40,608	$	19,213	$	48,195	$	43,072	$	28,266
Wholesale	$	30,274	$	29,029	$	5,939	$	61,752	$	61,175	$	9,512

For the three months ended September 30, 2013 and 2012, the Company's average recorded investment in impaired receivables individually evaluated for impairment (based on a four-month average) and the related interest income recognized are as follows:

	2013				2012

	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded
Retail
United States	$	8,030	$	92	$	4,585	$	147
Canada	$	1,556	$	58	$	—	$	—
Wholesale
United States	$	—	$	—	$	—	$	—
Canada	$	—	$	—	$	—	$	—
With an allowance recorded
Retail
United States	$	31,843	$	163	$	49,005	$	485
Canada	$	590	$	—	$	—	$	—
Wholesale
United States	$	28,468	$	102	$	73,473	$	528
Canada	$	3,267	$	32	$	5,655	$	23
Total
Retail	$	42,019	$	313	$	53,590	$	632
Wholesale	$	31,735	$	134	$	79,128	$	551

For the nine months ended September 30, 2013 and 2012, the Company's average recorded investment in impaired receivables individually evaluated for impairment (based on a ten-month average) and the related interest income recognized are as follows:

	2013				2012

	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded
Retail
United States	$	7,609	$	224	$	4,433	$	411
Canada	$	1,507	$	100	$	—	$	—
Wholesale
United States	$	—	$	—	$	—	$	—
Canada	$	—	$	—	$	—	$	—
With an allowance recorded
Retail
United States	$	32,193	$	871	$	49,558	$	1,464
Canada	$	482	$	5	$	—	$	—
Wholesale
United States	$	30,228	$	656	$	66,461	$	1,381
Canada	$	3,686	$	92	$	6,257	$	188
Total
Retail	$	41,791	$	1,200	$	53,991	$	1,875
Wholesale	$	33,914	$	748	$	72,718	$	1,569

Recognition of income is generally suspended when management determines that collection of future finance income is not probable or when an account becomes 120 days delinquent, whichever occurs first. Interest accrual is resumed if the receivable becomes contractually current and management determines that collection is probable. Previously suspended income is recognized at that time. The receivables on nonaccrual status as of September 30, 2013 and December 31, 2012 are as follows:

A restructuring of a receivable constitutes a troubled debt restructuring ("TDR") when the lender grants a concession it would not otherwise consider to a borrower experiencing financial difficulties. As a collateral-based lender, the Company typically will repossess collateral in lieu of restructuring receivables. As such, for retail receivables, concessions are typically provided based on bankruptcy court proceedings.

For wholesale receivables, concessions granted may include extended contract maturities, inclusion of interest-only periods, modification of a contractual interest rate to a below market interest rate and waiving of interest and principal.

TDRs are reviewed along with other receivables as part of management's ongoing evaluation of the adequacy of the allowance for credit losses. The allowance for credit losses attributable to TDRs is based on the most probable source of repayment, which is normally the liquidation of collateral. In determining collateral value, the Company estimates the current fair market value of the equipment collateral and considers credit enhancements such as additional collateral and third-party guarantees.

Before removing a receivable from TDR classification, a review of the borrower is conducted. If concerns exist about the future ability of the borrower to meet its obligations under the loans based on a credit review, the TDR classification is not removed from the receivable.

As of September 30, 2013, the Company had approximately 800 retail and finance lease receivable contracts in legal or bankruptcy status (i.e., a contract which is, or has been assigned to be, the subject of a lawsuit or bankruptcy proceeding), of which the pre-modification value was $21,277 and the post-modification value was $18,839. A court has determined the concession in 540 of these cases. The pre-modification value of these contracts was $9,190 and the post-modification value was $7,579. As of September 30, 2012, the Company had approximately 1,100 retail and finance lease receivable contracts in legal or bankruptcy status, of which the pre-modification value was $37,360 and the post-modification value was $34,833. A court has determined the concession in 632 of these cases. The pre-modification value of these contracts was $11,568 and the post-modification value was $9,853. As the outcome of the bankruptcy cases is determined by a court based on available assets, subsequent re-defaults are unusual and were not material for retail and finance lease receivable contracts that were modified in a TDR during the 12 months ended September 30, 2013 and 2012.

As of September 30, 2013, the Company had three wholesale agreements with an aggregate pre- and post-modification balance of approximately $1,026 and $775, respectively. As of September 30, 2012, the Company had five wholesale agreements with an aggregate pre- and post-modification balance of approximately $21,623 and $20,274, respectively. The wholesale TDRs that subsequently re-defaulted were immaterial for the 12 months ended September 30, 2013 and 2012.

On July 15, 2013, the Company renewed a U.S. wholesale committed asset-backed facility with a maturity date of July 14, 2014. The renewal reduced the facility from $250,000 to $200,000.

On August 15, 2013, the Company, through a U.S. wholesale trust, issued $367,300 of asset-backed notes with a scheduled final bullet payment date of August 15, 2016 secured by a revolving pool of U.S. dealer wholesale receivables.

On August 29, 2013, the Company, through a bankruptcy-remote trust, issued $755,500 of amortizing, asset-backed notes secured by U.S. retail loan contracts.

The effective tax rates for the three months ended September 30, 2013 and 2012 were 35.2% and 34.8%, respectively. The effective tax rate was 34.1% for the nine-month period ended September 30, 2013, compared to 35.2% for the same period in 2012. The lower rate for the nine months ended September 30, 2013 was primarily due to the retroactive reinstatement of the exception to U.S. taxation of active financing income as a result of the American Taxpayer Relief Act of 2012 for approximately $2,671 and changes in the geographic mix of income earned within the U.S. and Canada.

The Company's provision for income taxes is based on an estimated tax rate for the year applied to year-to-date federal, state and foreign income. The 2013 estimated annual tax rate is expected to be lower than the U.S. federal corporate income tax rate of 35% primarily due to profits in tax jurisdictions with lower rates, in addition to favorable changes in certain state income tax legislation. The President of the United States signed the American Taxpayer Relief Act of 2012 on January 2, 2013. As a result, the tax impact of this legislation was taken into account in the quarter in which the legislation was enacted by Congress and signed into law by the President. The Company reflected the tax benefit of this legislation in its financial statements for the first quarter of 2013 by reducing the U.S. tax on active financing income by approximately $2,671.

The Company may elect to measure many financial instruments and certain other items at fair value. This fair value option must be applied on an instrument-by-instrument basis with changes in fair value reported in earnings. The election can be made at the acquisition of an eligible financial asset, financial liability, or firm commitment or when certain specified reconsideration events occur. The fair value election may not be revoked once made. The Company did not elect the fair value measurement option for eligible items.

U.S. GAAP specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's internally-developed market assumptions. These two types of inputs have created the following fair-value hierarchy:

When available, the Company uses quoted market prices to determine fair value and classifies such items in Level 1. In some cases where a market price is not available, the Company will make use of observable market-based inputs to calculate fair value, in which case the items are classified in Level 2.

If quoted or observable market prices are not available, fair value is based upon internally developed valuation techniques that use, where possible, current market-based or independently sourced market parameters such as interest rates, currency rates, or yield curves. Items valued using such internally generated valuation techniques are classified according to the lowest level input or value driver that is significant to the valuation. Thus, an item may be classified in Level 3 even though there may be some significant inputs that are readily observable.

The following section describes the valuation methodologies used by the Company to measure various financial instruments at fair value, including an indication of the level in the fair value hierarchy in which each instrument is generally classified. Where appropriate, the description includes details of the valuation models and the key inputs to those models, as well as any significant assumptions.

The Company utilizes derivative instruments to mitigate its exposure to interest rate and foreign currency exposures. Derivatives used as hedges are effective at reducing the risk associated with the exposure being hedged and are designated as a hedge at the inception of the derivative contract. The Company does not hold or issue derivative or other financial instruments for speculative purposes. The credit risk for the interest rate hedges is reduced through diversification among counterparties, utilizing mandatory termination clauses and/or collateral support agreements. Derivative instruments are generally classified in Level 2 or 3 of the fair value hierarchy. The cash flows underlying all derivative contracts were recorded in operating activities in the consolidated statements of cash flows.

The Company has entered into interest rate derivatives in order to manage interest rate exposures arising in the normal course of business. Interest rate derivatives that have been designated in cash flow hedging relationships are being used by the Company to mitigate the risk of rising interest rates related to debt and anticipated issuance of fixed-rate debt in future periods. Gains and losses on these instruments, to the extent that the hedge relationship has been effective, are deferred in accumulated other comprehensive income (loss) and recognized in interest expense over the period in which the Company recognizes interest expense on the related debt. Ineffectiveness recognized related to these hedging relationships was not significant for the three and nine months ended September 30, 2013 and 2012. These amounts are recorded in "Other expenses" in the consolidated statements of income. The maximum length of time over which the Company is hedging its interest rate exposure through the use of derivative instruments designated in cash flow hedge relationships is 46 months. The after-tax losses deferred in accumulated other comprehensive income that will be recognized in interest expense over the next 12 months are approximately $3,049.

The Company also enters into interest rate derivatives with substantially similar economic terms that are not designated as hedging instruments to mitigate interest rate risk related to the Company's committed asset-backed facilities. These facilities require the Company to enter into interest rate derivatives. To ensure that these transactions do not result in the Company being exposed to this risk, the Company enters into an offsetting position. Unrealized and realized gains and losses resulting from fair value changes in these instruments are recognized directly in income and were insignificant for the three and nine months ended September 30, 2013 and 2012.

Most of the Company's interest rate derivatives are considered Level 2. The fair market value of these derivatives is calculated using market data input for forecasted benchmark interest rates and can be compared to actively traded derivatives. When the future notional amount of the Company's interest rate derivatives is not known in advance, these derivatives are considered Level 3 derivatives. The fair market value of these derivatives is calculated using market data input and a forecasted future notional balance. The total notional amount of the Company's interest rate derivatives was approximately $3,062,358 and $1,926,633 at September 30, 2013 and December 31, 2012, respectively. The ten-month average notional amounts as of September 30, 2013 and 2012 were $2,738,537 and $3,195,415, respectively.

The Company uses forward contracts to hedge certain assets and liabilities denominated in foreign currencies. Such derivatives are considered economic hedges and are not designated as hedging instruments. The changes in the fair value of these instruments are recognized directly as income in "Other expenses" and are expected to offset the foreign exchange gains or losses on the exposures being managed.

All of the Company's foreign exchange derivatives are considered Level 2 as the fair value is calculated using market data input and can be compared to actively traded derivatives.

The fair values of the Company's derivatives as of September 30, 2013 and December 31, 2012 in the consolidated balance sheets are recorded as follows:

	September 30, 2013		December 31, 2012

Derivatives Designated as Hedging Instruments:
Other assets:
Interest rate derivatives	$	468	$	—

Accounts payable and other accrued liabilities:
Interest rate derivatives	$	249	$	—

Derivatives Not Designated as Hedging Instruments:
Other assets:
Interest rate derivatives	$	8,439	$	2,788
Foreign exchange contracts		7		15

Total	$	8,446	$	2,803

Accounts payable and other accrued liabilities:
Interest rate derivatives	$	8,439	$	2,744
Foreign exchange contracts		23		20

Total	$	8,462	$	2,764

Pre-tax gains (losses) on the consolidated statements of income related to the Company's derivatives for the three and nine months ended September 30, 2013 and 2012 are recorded in the following accounts:

	Three Months Ended September 30,						Nine Months Ended September 30,

	2013			2012			2013			2012
Cash Flow Hedges
Losses recognized in accumulated other comprehensive income (effective portion)
Interest rate derivatives	$	(598	)	$	39		$	(32	)	$	(326	)
Reclassified from accumulated other comprehensive income (effective portion)
Interest rate derivatives—Interest expense to third parties		(1,514	)		(1,648	)		(4,793	)		(5,367	)
Recognized directly in income (ineffective portion)
Interest rate derivatives—Other expenses		—			(2	)		—			20
Not Designated as Hedges
Interest rate derivatives—Other expenses	$	(32	)	$	—		$	54		$	(48	)
Foreign exchange contracts—Other expenses	$	16		$	32		$	32		$	32

The following tables present for each of the fair-value hierarchy levels the Company's assets and liabilities that are measured at fair value on a recurring basis at September 30, 2013 and December 31, 2012:

	Level 2				Level 3				Total

	September 30, 2013		December 31, 2012		September 30, 2013		December 31, 2012		September 30, 2013		December 31, 2012
Assets
Interest rate derivatives	$	8,907	$	2,788	$	—	$	—	$	8,907	$	2,788
Foreign exchange contracts		7		15		—		—		7		15
Retained interests		—		—		2,769		9,271		2,769		9,271

Total assets	$	8,914	$	2,803	$	2,769	$	9,271	$	11,683	$	12,074

Liabilities
Interest rate derivatives	$	8,688	$	2,744	$	—	$	—	$	8,688	$	2,744
Foreign exchange contracts		23		20		—		—		23		20

Total liabilities	$	8,711	$	2,764	$	—	$	—	$	8,711	$	2,764

There were no transfers between Level 1, Level 2 and Level 3 hierarchy levels during the periods presented.

The following table presents the changes in the Level 3 fair-value category for the nine months ended September 30, 2013 and 2012:

	Retained Interests			Derivative Financial Instruments

Balance at January 1, 2012	$	17,289		$	15
Total gains or losses (realized/unrealized):
Included in earnings		912			65
Included in other comprehensive income (loss)		830			(80	)
Settlements		(10,658	)		—

Balance at September 30, 2012	$	8,373		$	—

Balance at January 1, 2013	$	9,271		$	—
Total gains or losses (realized/unrealized):
Included in earnings		707			—
Included in other comprehensive income (loss)		(368	)		—
Settlements		(6,841	)		—

Balance at September 30, 2013	$	2,769		$	—

The carrying amount of cash and cash equivalents, restricted cash, floating-rate affiliated accounts and notes receivable, floating-rate short-term debt, interest payable, short-term affiliated debt and floating-rate long-term debt was assumed to approximate its fair value. Under the fair value hierarchy, cash and cash equivalents and restricted cash are classified as Level 1 and the remainder of the financial instruments listed are measured as Level 2.

The carrying amount and estimated fair value of assets and liabilities considered financial instruments as of September 30, 2013 and December 31, 2012 are as follows:

The fair value of receivables was determined by discounting the estimated future payments using a discount rate which includes an estimate for credit risk.

The fair values of fixed-rate long-term debt were based on current market quotes for identical or similar borrowings and credit risk.

The Company's segment data is based on disclosure requirements of accounting guidance on segment reporting, which requires financial information be reported on the basis that is used internally for measuring segment performance. The Company's reportable segments are strategic business units that are organized around differences in geographic areas. Each segment is managed separately as they require different knowledge of regulatory environments and marketing strategies. The operating segments offer primarily the same services within each of the respective segments.

	Three Months Ended September 30,						Nine Months Ended September 30,

	2013			2012			2013			2012
Revenues
United States	$	169,737		$	163,361		$	493,408		$	479,132
Canada		49,751			49,015			146,620			143,530
Eliminations		(1,301	)		(1,317	)		(3,844	)		(1,775	)

Total	$	218,187		$	211,059		$	636,184		$	620,887

Interest expense
United States	$	53,136		$	48,990		$	152,584		$	150,937
Canada		13,162			13,841			38,664			41,242
Eliminations		(1,301	)		(1,317	)		(3,844	)		(1,775	)

Total	$	64,997		$	61,514		$	187,404		$	190,404

Segment net income
United States	$	45,942		$	41,839		$	146,614		$	123,048
Canada		19,386			15,112			51,586			46,038

Total	$	65,328		$	56,951		$	198,200		$	169,086

Depreciation and amortization
United States	$	20,466		$	18,824		$	60,063		$	56,667
Canada		8,316			8,442			24,609			24,558

Total	$	28,782		$	27,266		$	84,672		$	81,225

Expenditures for equipment on operating leases
United States	$	108,422		$	100,607		$	314,600		$	231,908
Canada		18,906			24,755			76,159			76,287

Total	$	127,328		$	125,362		$	390,759		$	308,195

Provision (benefit) for credit losses, net
United States	$	1,762		$	9,169		$	(8,070	)	$	12,735
Canada		129			2,911			2,601			3,083

Total	$	1,891		$	12,080		$	(5,469	)	$	15,818

	As of September 30, 2013			As of December 31, 2012

Segment assets
United States	$	12,099,277		$	11,016,740
Canada		2,721,531			2,555,140
Eliminations		(216,384	)		(225,351	)

Total	$	14,604,424		$	13,346,529

Managed portfolio
United States	$	10,514,182		$	8,849,079
Canada		2,267,673			2,052,884

Total	$	12,781,855		$	10,901,963

The summary of sources included in "Interest and other income from affiliates" in the accompanying consolidated statements of income for the three and nine months ended September 30, 2013 and 2012 is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,

	2013		2012		2013		2012
Retail subsidy from CNH North America	$	50,100	$	50,882	$	158,629	$	155,856
Wholesale subsidy:
CNH North America		43,389		38,873		114,660		110,319
Other affiliates		240		571		1,568		2,389
Operating lease subsidy from CNH North America		8,424		7,591		25,529		22,053
Lending funds:
CNH North America		—		2		—		352
Other affiliates		—		2		—		2

Total interest and other income from affiliates	$	102,153	$	97,921	$	300,386	$	290,971

The Company receives compensation from CNH North America for retail installment sales contracts and finance leases that were created under certain low-rate financing programs and interest waiver programs offered to customers by CNH North America. For selected operating leases, CNH North America compensates the Company for the difference between the market rental rates and the amount paid by the customer. Similarly, for selected wholesale receivables, CNH North America and other affiliates compensate the Company for the difference between market rates and the amount paid by the dealer. The Company is also compensated for lending funds to CNH North America and other affiliates for various purposes.

Fees charged by affiliates represent all personnel and administrative tasks CNH America performs on behalf of the Company.

As of September 30, 2013 and December 31, 2012, the Company has various accounts and notes receivable and debt with the following affiliates:

	September 30, 2013		December 31, 2012

Affiliated receivables from:
CNH America	$	624	$	64,708
CNH Canada Ltd.		232		17,797
Other affiliates		13,115		12,874

Total affiliated receivables	$	13,971	$	95,379

Affiliated debt owed to:
CNH America	$	680,754	$	788,381
CNH Canada Ltd.		91,935		60,651
Fiat Industrial		—		15,000

Total affiliated debt	$	772,689	$	864,032

Accounts payable and other accrued liabilities of $85,520 and $15,418, respectively, as of September 30, 2013 and December 31, 2012, were payable to related parties.

CNH Canada Ltd., an affiliated entity, owns 76,618,488 shares of preferred stock in CNH Capital Canada, one of the Company's subsidiaries. This is recorded as "Noncontrolling interest" in the stockholder's equity in the accompanying consolidated balance sheets. These shares earn dividends of 12-month LIBOR plus 1.2% per annum. The dividends are accrued annually and are recorded in "Net income attributed to noncontrolling interest" in the consolidated statements of income. The accrued, but not declared, dividends are included in "Noncontrolling interest" in the stockholder's equity in the accompanying consolidated balance sheets.

The Company is party to various litigation matters and claims arising from its operations. Management believes that the outcome of these proceedings, individually and in the aggregate, will not have a material adverse effect on the Company's financial position or results of operations.

The Company provides payment guarantees on the financial debt of various foreign financial services subsidiaries of CNHI for approximately $272,552. The guarantees are in effect for the term of the underlying funding facilities, which have various maturities through 2015.

At September 30, 2013, the Company has various agreements to extend credit for the following managed portfolios:

The commercial revolving accounts are issued by the Company to retail customers for purchases of parts and services at CNH North America equipment dealers.

CNH Capital America and New Holland Credit, which are 100%-owned subsidiaries of CNH Capital LLC (the "Guarantor Entities"), guarantee certain indebtedness of CNH Capital LLC. As the guarantees are full, unconditional, and joint and several and as the Guarantor Entities are 100%-owned by CNH Capital LLC, the Company has included the following condensed consolidating financial information as of September 30, 2013 and December 31, 2012 and for the three and nine months ended

NOTE 11: SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Continued)

September 30, 2013 and 2012. The condensed consolidating financial information reflects investments in consolidated subsidiaries under the equity method of accounting.

	Condensed Statements of Comprehensive Income for the Three Months Ended September 30, 2013

	CNH Capital LLC			Guarantor Entities		All Other Subsidiaries			Eliminations			Consolidated
REVENUES
Interest income on retail and other notes and finance leases	$	—		$	3,050	$	62,444		$	—		$	65,494
Interest and other income from affiliates		17,809			60,385		86,753			(62,794	)		102,153
Rental income on operating leases		—			20,152		14,691			—			34,843
Servicing fee income		—			22,329		34			(22,222	)		141
Other income		—			12,461		3,095			—			15,556

Total revenues		17,809			118,377		167,017			(85,016	)		218,187

EXPENSES
Interest expense:
Interest expense to third parties		24,280			346		33,899			—			58,525
Interest expense to affiliates		—			58,261		11,005			(62,794	)		6,472

Total interest expense		24,280			58,607		44,904			(62,794	)		64,997

Administrative and operating expenses:
Fees charged by affiliates		—			11,436		24,868			(22,222	)		14,082
Provision for credit losses, net		—			1,042		849			—			1,891
Depreciation of equipment on operating leases		—			16,116		12,437			—			28,553
Other expenses		1			6,857		951			—			7,809

Total operating expenses		1			35,451		39,105			(22,222	)		52,335

Total expenses		24,281			94,058		84,009			(85,016	)		117,332

(Loss) income before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method		(6,472	)		24,319		83,008			—			100,855
Income tax (benefit) provision		(2,514	)		10,149		27,892			—			35,527
Equity in income of consolidated subsidiaries accounted for under the equity method		68,913			54,743		—			(123,656	)		—

NET INCOME		64,955			68,913		55,116			(123,656	)		65,328
Net income attributed to noncontrolling interest		—			—		(373	)		—			(373	)

NET INCOME ATTRIBUTABLE TO CNH CAPITAL LLC	$	64,955		$	68,913	$	54,743		$	(123,656	)	$	64,955

COMPREHENSIVE INCOME	$	77,274		$	81,233	$	65,559		$	(146,419	)	$	77,647
Comprehensive income attributed to noncontrolling interest		—			—		(373	)		—			(373	)

COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH CAPITAL LLC	$	77,274		$	81,233	$	65,186		$	(146,419	)	$	77,274

NOTE 11: SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Continued)

	Condensed Statements of Comprehensive Income for the Nine Months Ended September 30, 2013

	CNH Capital LLC			Guarantor Entities			All Other Subsidiaries			Eliminations			Consolidated
REVENUES
Interest income on retail and other notes and finance leases	$	—		$	8,186		$	181,095		$	—		$	189,281
Interest and other income from affiliates		47,376			153,032			263,971			(163,993	)		300,386
Rental income on operating leases		—			58,541			43,474			—			102,015
Servicing fee income		—			63,982			71			(63,640	)		413
Other income		—			36,293			7,796			—			44,089

Total revenues		47,376			320,034			496,407			(227,633	)		636,184

EXPENSES
Interest expense:
Interest expense to third parties		66,555			1,947			102,041			—			170,543
Interest expense to affiliates		—			150,385			30,469			(163,993	)		16,861

Total interest expense		66,555			152,332			132,510			(163,993	)		187,404

Administrative and operating expenses:
Fees charged by affiliates		—			36,350			71,780			(63,640	)		44,490
(Benefit) provision for credit losses, net		—			(10,495	)		5,026			—			(5,469	)
Depreciation of equipment on operating leases		—			47,138			36,792			—			83,930
Other expenses (income)		1			25,914			(1,031	)		—			24,884

Total operating expenses		1			98,907			112,567			(63,640	)		147,835

Total expenses		66,556			251,239			245,077			(227,633	)		335,239

(Loss) income before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method		(19,180	)		68,795			251,330			—			300,945
Income tax (benefit) provision		(7,494	)		27,314			82,925			—			102,745
Equity in income of consolidated subsidiaries accounted for under the equity method		208,738			167,257			—			(375,995	)		—

NET INCOME		197,052			208,738			168,405			(375,995	)		198,200
Net income attributed to noncontrolling interest		—			—			(1,148	)		—			(1,148	)

NET INCOME ATTRIBUTABLE TO CNH CAPITAL LLC	$	197,052		$	208,738		$	167,257		$	(375,995	)	$	197,052

COMPREHENSIVE INCOME	$	176,734		$	188,420		$	151,827		$	(339,099	)	$	177,882
Comprehensive income attributed to noncontrolling interest		—			—			(1,148	)		—			(1,148	)

COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH CAPITAL LLC	$	176,734		$	188,420		$	150,679		$	(339,099	)	$	176,734

NOTE 11: SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Continued)

	Condensed Balance Sheets as of September 30, 2013

	CNH Capital LLC		Guarantor Entities			All Other Subsidiaries		Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	—	$	139,853		$	91,514	$	—		$	231,367
Restricted cash		—		100			599,754		—			599,854
Receivables, less allowance for credit losses		—		1,536,050			11,118,079		—			12,654,129
Retained interests in securitized receivables		—		5,140			2,433		(4,804	)		2,769
Affiliated accounts and notes receivable		1,769,273		1,893,002			1,418,634		(5,066,938	)		13,971
Equipment on operating leases, net		—		551,135			334,403		—			885,538
Equipment held for sale		—		23,326			5,567		—			28,893
Investments in consolidated subsidiaries accounted for under the equity method		1,652,235		1,890,902			—		(3,543,137	)		—
Goodwill and intangible assets, net		—		85,632			34,970		—			120,602
Other assets		20,596		(21,144	)		67,849		—			67,301

TOTAL	$	3,442,104	$	6,103,996		$	13,673,203	$	(8,614,879	)	$	14,604,424

LIABILITIES AND STOCKHOLDER'S EQUITY
Liabilities:
Short-term debt, including current maturities of long-term debt	$	—	$	68,040		$	4,105,569	$	—		$	4,173,609
Accounts payable and other accrued liabilities		37,970		1,888,522			1,074,533		(2,499,450	)		501,575
Affiliated debt		—		2,424,578			920,403		(2,572,292	)		772,689
Long-term debt		2,000,000		70,621			5,623,680		—			7,694,301

Total liabilities		2,037,970		4,451,761			11,724,185		(5,071,742	)		13,142,174
Stockholder's equity		1,404,134		1,652,235			1,949,018		(3,543,137	)		1,462,250

TOTAL	$	3,442,104	$	6,103,996		$	13,673,203	$	(8,614,879	)	$	14,604,424

NOTE 11: SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Continued)

	Condensed Statements of Cash Flows for the Nine Months Ended September 30, 2013

	CNH Capital LLC			Guarantor Entities			All Other Subsidiaries			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash (used in) from operating activities	$	(400,000	)	$	275,179		$	141,158		$	427,122		$	443,459

CASH FLOWS FROM INVESTING ACTIVITIES:
Cost of receivables acquired		—			(12,005,414	)		(12,267,832	)		9,574,684			(14,698,562	)
Collections of receivables		—			11,614,411			10,667,838			(9,574,225	)		12,708,024
Decrease in restricted cash		—			—			122,905			—			122,905
Purchase of equipment on operating leases, net		—			(167,675	)		(54,725	)		—			(222,400	)
Other investing activities		—			(250	)		(27	)		—			(277	)

Net cash (used in) from investing activities		—			(558,928	)		(1,531,841	)		459			(2,090,310	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany activity		—			277,908			61,512			(427,581	)		(88,161	)
Net increase (decrease) in indebtedness		600,000			(111,307	)		891,773			—			1,380,466
Dividends paid to CNH America LLC		(200,000	)		—			—			—			(200,000	)

Net cash from (used in) financing activities		400,000			166,601			953,285			(427,581	)		1,092,305

DECREASE IN CASH AND CASH EQUIVALENTS		—			(117,148	)		(437,398	)		—			(554,546	)
CASH AND CASH EQUIVALENTS:
Beginning of period		—			257,001			528,912			—			785,913

End of period	$	—		$	139,853		$	91,514		$	—		$	231,367

NOTE 11: SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Continued)

	Condensed Statements of Comprehensive Income for the Three Months Ended September 30, 2012

	CNH Capital LLC			Guarantor Entities		All Other Subsidiaries			Eliminations			Consolidated
REVENUES
Interest income on retail and other notes and finance leases	$	—		$	2,650	$	59,066		$	—		$	61,716
Interest and other income from affiliates		—			46,382		88,636			(37,097	)		97,921
Rental income on operating leases		—			20,314		13,360			—			33,674
Servicing fee income		—			21,185		29			(21,007	)		207
Other income		—			8,823		8,718			—			17,541

Total revenues		—			99,354		169,809			(58,104	)		211,059

EXPENSES
Interest expense:
Interest expense to third parties		10,860			1,294		39,948			—			52,102
Interest expense to affiliates		83			37,314		9,112			(37,097	)		9,412

Total interest expense		10,943			38,608		49,060			(37,097	)		61,514

Administrative and operating expenses:
Fees charged by affiliates		—			12,239		23,680			(21,007	)		14,912
Provision for credit losses, net		—			3,735		8,345			—			12,080
Depreciation of equipment on operating leases		—			15,963		11,058			—			27,021
Other expenses		—			6,521		1,637			—			8,158

Total operating expenses		—			38,458		44,720			(21,007	)		62,171

Total expenses		10,943			77,066		93,780			(58,104	)		123,685

(Loss) income before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method		(10,943	)		22,288		76,029			—			87,374
Income tax (benefit) provision		(4,287	)		9,152		25,558			—			30,423
Equity in income of consolidated subsidiaries accounted for under the equity method		63,133			49,997		—			(113,130	)		—

NET INCOME		56,477			63,133		50,471			(113,130	)		56,951
Net income attributed to noncontrolling interest		—			—		(474	)		—			(474	)

NET INCOME ATTRIBUTABLE TO CNH CAPITAL LLC	$	56,477		$	63,133	$	49,997		$	(113,130	)	$	56,477

COMPREHENSIVE INCOME	$	83,025		$	89,681	$	72,498		$	(161,705	)	$	83,499
Comprehensive income attributed to noncontrolling interest		—			—		(474	)		—			(474	)

COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH CAPITAL LLC	$	83,025		$	89,681	$	72,024		$	(161,705	)	$	83,025

NOTE 11: SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Continued)

	Condensed Statements of Comprehensive Income for the Nine Months Ended September 30, 2012

	CNH Capital LLC			Guarantor Entities			All Other Subsidiaries			Eliminations			Consolidated
REVENUES
Interest income on retail and other notes and finance leases	$	—		$	9,402		$	169,170		$	—		$	178,572
Interest and other income from affiliates		—			130,291			263,369			(102,689	)		290,971
Rental income on operating leases		—			62,402			37,264			—			99,666
Servicing fee income		—			60,198			125			(59,522	)		801
Other income		—			22,590			28,287			—			50,877

Total revenues		—			284,883			498,215			(162,211	)		620,887

EXPENSES
Interest expense:
Interest expense to third parties		31,468			4,705			127,120			—			163,293
Interest expense to affiliates		228			102,682			26,890			(102,689	)		27,111

Total interest expense		31,696			107,387			154,010			(102,689	)		190,404

Administrative and operating expenses:
Fees charged by affiliates		—			38,515			68,202			(59,522	)		47,195
(Benefit) provision for credit losses, net		—			(10,294	)		26,112			—			15,818
Depreciation of equipment on operating leases		—			49,636			30,779			—			80,415
Other expenses		—			21,688			4,497			—			26,185

Total operating expenses		—			99,545			129,590			(59,522	)		169,613

Total expenses		31,696			206,932			283,600			(162,211	)		360,017

(Loss) income before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method		(31,696	)		77,951			214,615			—			260,870
Income tax (benefit) provision		(12,420	)		30,913			73,291			—			91,784
Equity in income of consolidated subsidiaries accounted for under the equity method		187,136			140,098			—			(327,234	)		—

NET INCOME		167,860			187,136			141,324			(327,234	)		169,086
Net income attributed to noncontrolling interest		—			—			(1,226	)		—			(1,226	)

NET INCOME ATTRIBUTABLE TO CNH CAPITAL LLC	$	167,860		$	187,136		$	140,098		$	(327,234	)	$	167,860

COMPREHENSIVE INCOME	$	194,769		$	214,045		$	163,693		$	(376,512	)	$	195,995
Comprehensive income attributed to noncontrolling interest		—			—			(1,226	)		—			(1,226	)

COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH CAPITAL LLC	$	194,769		$	214,045		$	162,467		$	(376,512	)	$	194,769

NOTE 11: SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Continued)

	Condensed Balance Sheets as of December 31, 2012

	CNH Capital LLC		Guarantor Entities			All Other Subsidiaries		Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	—	$	257,001		$	528,912	$	—		$	785,913
Restricted cash		—		100			727,086		—			727,186
Receivables, less allowance for credit losses		—		1,136,838			9,595,438		—			10,732,276
Retained interests in securitized receivables		—		5,368			8,248		(4,345	)		9,271
Affiliated accounts and notes receivable		1,357,013		1,970,680			1,380,472		(4,612,786	)		95,379
Equipment on operating leases, net		—		430,599			323,772		—			754,371
Equipment held for sale		—		39,455			7,195		—			46,650
Investments in consolidated subsidiaries accounted for under the equity method		1,462,859		1,740,138			—		(3,202,997	)		—
Goodwill and intangible assets		—		86,095			36,130		—			122,225
Other assets		21,765		(14,998	)		66,491		—			73,258

TOTAL	$	2,841,637	$	5,651,276		$	12,673,744	$	(7,820,128	)	$	13,346,529

LIABILITIES AND STOCKHOLDER'S EQUITY
Liabilities:
Short-term debt, including current maturities of long-term debt	$	—	$	110,557		$	4,119,680	$	—		$	4,230,237
Accounts payable and other accrued liabilities		15,194		1,791,778			1,112,745		(2,472,419	)		447,298
Affiliated debt		—		2,146,670			862,074		(2,144,712	)		864,032
Long-term debt		1,400,000		139,412			4,782,139		—			6,321,551

Total liabilities		1,415,194		4,188,417			10,876,638		(4,617,131	)		11,863,118
Stockholder's equity		1,426,443		1,462,859			1,797,106		(3,202,997	)		1,483,411

TOTAL	$	2,841,637	$	5,651,276		$	12,673,744	$	(7,820,128	)	$	13,346,529

NOTE 11: SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Continued)

	Condensed Statements of Cash Flows for the Nine Months Ended September 30, 2012

	CNH Capital LLC			Guarantor Entities			All Other Subsidiaries			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash (used in) from operating activities	$	(278	)	$	(580,853	)	$	1,034,918		$	56,739		$	510,526

CASH FLOWS FROM INVESTING ACTIVITIES:
Cost of receivables acquired		—			(11,104,286	)		(12,802,889	)		10,043,100			(13,864,075	)
Collections of receivables		—			11,251,988			11,028,995			(10,043,062	)		12,237,921
Decrease in restricted cash		—			—			97,290			—			97,290
Purchase of equipment on operating leases, net		—			(101,483	)		(61,724	)		—			(163,207	)
Other investing activities		—			(151	)		—			—			(151	)

Net cash from (used in) investing activities		—			46,068			(1,738,328	)		38			(1,692,222	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany activity		278			448,164			(66,894	)		(56,777	)		324,771
Net (decrease) increase in indebtedness		—			(48,664	)		604,418			—			555,754

Net cash from (used in) financing activities		278			399,500			537,524			(56,777	)		880,525

DECREASE IN CASH AND CASH EQUIVALENTS		—			(135,285	)		(165,886	)		—			(301,171	)
CASH AND CASH EQUIVALENTS:
Beginning of period		—			306,208			287,885			—			594,093

End of period	$	—		$	170,923		$	121,999		$	—		$	292,922

On October 8, 2013, CNH Capital LLC completed an offering of $500,000 in aggregate principal amount of its 3.250% unsecured notes due 2017, issued at par.

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

We offer a range of financial products and services to the dealers and customers of CNH North America. The principal products offered are retail financing for the purchase or lease of new and used CNH North America equipment and wholesale financing to CNH North America dealers. Wholesale financing consists primarily of floor plan financing as well as financing equipment used in dealer-owned rental yards, parts inventory and working capital needs. In addition, we purchase equipment from dealers that is leased to retail customers under operating lease agreements, and we finance customers using our commercial revolving accounts.

Our business is closely related to the agricultural and construction equipment industries because we offer financing products for such equipment. For the nine months ended September 30, 2013, CNH Industrial's agricultural equipment revenues increased 5% compared to the nine months ended September 30, 2012. CNH Industrial's construction equipment revenues decreased 17% for the nine months ended September 30, 2013, compared to the nine months ended September 30, 2012.

In general, our receivable mix between agricultural and construction equipment financing reflects the mix of equipment sales by CNH North America. As such, changes in the agricultural industry or with respect to our agricultural equipment borrowers ("farmers") may affect the majority of our portfolio.

Overall, the North American agricultural industry exhibited stability during the economic crisis. During the past few years, farm income in North America has experienced some of its highest historical levels. The financing we provide to our borrowers is secured by the financed equipment, which typically has a long useful life and is a key component in the farmers' sources of income. All of these factors contribute to the strong credit performance of our portfolio in recent periods.

Net income attributable to CNH Capital LLC was $65.0 million for the three months ended September 30, 2013, compared to $56.5 million for the three months ended September 30, 2012. Net income attributable to CNH Capital LLC was $197.1 million for the nine months ended September 30, 2013, compared to $167.9 million for the nine months ended September 30, 2012. Net income increased primarily due to a higher average portfolio and a lower provision for credit losses. The receivables balance greater than 30 days past due as a percentage of managed receivables was 0.4%, 0.5% and 0.6% at September 30, 2013, December 31, 2012 and September 30, 2012, respectively.

Macroeconomic issues for us include the uncertainty of governmental actions in respect to monetary, fiscal and legislative policies, the global economic recovery, capital market disruptions, trade agreements, and financial regulatory reform. Severe weather conditions and significant volatility in the price of certain commodities could also impact CNH North America's and our results.

Three and Nine Months Ended September 30, 2013 Compared to Three and Nine Months Ended September 30, 2012

Revenues for the three and nine months ended September 30, 2013 and 2012 were as follows (dollars in thousands):

	Three Months Ended September 30,

	2013		2012		$ Change			% Change
Interest income on retail and other notes and finance leases	$	65,494	$	61,716	$	3,778			6.1	%
Interest and other income from affiliates		102,153		97,921		4,232			4.3
Rental income on operating leases		34,843		33,674		1,169			3.5
Servicing fee income		141		207		(66	)		(31.9	)
Other income		15,556		17,541		(1,985	)		(11.3	)

Total revenues	$	218,187	$	211,059	$	7,128			3.4	%

	Nine Months Ended September 30,

	2013		2012		$ Change			% Change
Interest income on retail and other notes and finance leases	$	189,281	$	178,572	$	10,709			6.0	%
Interest and other income from affiliates		300,386		290,971		9,415			3.2
Rental income on operating leases		102,015		99,666		2,349			2.4
Servicing fee income		413		801		(388	)		(48.4	)
Other income		44,089		50,877		(6,788	)		(13.3	)

Total revenues	$	636,184	$	620,887	$	15,297			2.5	%

Revenues totaled $218.2 million and $636.2 million for the three and nine months ended September 30, 2013, respectively, compared to $211.1 million and $620.9 million for the same periods in 2012. Higher average portfolios primarily drove the year over year increase, partially offset by a decrease in our average yield. The average yield for retail and other notes, finance leases, wholesale receivables and commercial revolving accounts receivables was 5.6% and 6.1% for the three months ended September 30, 2013 and 2012, respectively, and 5.7% and 6.3% for the nine months ended September 30, 2013 and 2012, respectively.

Interest income on retail and other notes and finance leases for the three and nine months ended September 30, 2013 was $65.5 million and $189.3 million, respectively, representing increases of $3.8 million and $10.7 million from the same periods in 2012. For the third quarter, the increase was primarily due to an $8.7 million favorable impact from higher average earning assets, partially offset by a $4.9 million unfavorable impact from lower interest rates. For the nine months ended September 30, 2013, compared to the same period in 2012, the increase was primarily due to a $26.7 million favorable impact from higher average earning assets, partially offset by a $16.0 million unfavorable impact from lower interest rates.

Interest and other income from affiliates for the three and nine months ended September 30, 2013 was $102.2 million and $300.4 million, respectively, compared to $97.9 million and $291.0 million for the three and nine months ended September 30, 2012, respectively. Compensation from CNH North America for retail low-rate financing programs and interest waiver programs offered to customers for the three and nine months ended September 30, 2013 was $50.1 million and $158.6 million, respectively, compared to $50.9 million and $155.9 million for the same periods in 2012, respectively. The decrease in the retail

compensation amount in the three-month period was primarily due to changes in the mix of programs and products. The increase in the retail compensation amount for the nine-month period was primarily due to higher originations. For the three and nine months ended September 30, 2013, compensation from CNH North America for wholesale marketing programs was $43.4 million and $114.7 million, respectively, compared to $38.9 million and $110.3 for the three and nine months ended September 30, 2012, respectively. Wholesale compensation amounts increased year over year due to product mix. For operating leases, compensation for the difference between the market rental rates and the amounts paid by the customers of CNH North America was $8.4 million and $25.5 million for the three and nine months ended September 30, 2013, respectively, representing increases of $0.8 million and $3.4 million from the same periods in 2012. These increases were primarily due to higher originations.

Rental income on operating leases for the three and nine months ended September 30, 2013 was $34.8 million and $102.0 million, respectively, compared to $33.7 million and $99.7 million from the same periods in 2012. The third quarter increase was due to a $6.3 million favorable impact from higher average earning assets, partially offset by a $5.1 million unfavorable impact from lower interest rates on new and existing operating leases. The year-to-date increase was due to a $17.2 million favorable impact from higher average earning assets, partially offset by a $14.9 million unfavorable impact from lower interest rates on new and existing operating leases.

Expenses for the three and nine months ended September 30, 2013 and 2012 were as follows (dollars in thousands):

	Three Months Ended September 30,

	2013		2012		$ Change			% Change
Total interest expense	$	64,997	$	61,514	$	3,483			5.7	%
Fees charged by affiliates		14,082		14,912		(830	)		(5.6	)
Provision for credit losses, net		1,891		12,080		(10,189	)		(84.3	)
Depreciation of equipment on operating leases		28,553		27,021		1,532			5.7
Other expenses		7,809		8,158		(349	)		(4.3	)

Total expenses	$	117,332	$	123,685	$	(6,353	)		(5.1	)%

	Nine Months Ended September 30,

	2013			2012		$ Change			% Change
Total interest expense	$	187,404		$	190,404	$	(3,000	)		(1.6	)%
Fees charged by affiliates		44,490			47,195		(2,705	)		(5.7	)
(Benefit) provision for credit losses, net		(5,469	)		15,818		(21,287	)		(134.6	)
Depreciation of equipment on operating leases		83,930			80,415		3,515			4.4
Other expenses		24,884			26,185		(1,301	)		(5.0	)

Total expenses	$	335,239		$	360,017	$	(24,778	)		(6.9	)%

Interest expense totaled $65.0 million and $187.4 million for the three and nine months ended September 30, 2013, respectively, compared to $61.5 million and $190.4 million for the same periods in 2012. For the third quarter, the increase was due to a $7.8 million unfavorable impact from higher average total debt, partially offset by a $4.3 million favorable impact from lower average interest rates. For the nine months, the decrease was due to a $25.5 million favorable impact from lower average interest rates, partially offset by a $22.5 million unfavorable impact from higher average total debt.

For the three and nine months ended September 30, 2013, credit losses were a provision of $1.9 million and a benefit of $5.5 million, respectively, compared to a provision of $12.1 million and $15.8 million for the same periods in 2012. The decrease in provisions, for both the three and nine-month periods, were primarily due to the improved portfolio performance and collections from certain customers previously identified as impaired.

The effective tax rate for the three months ended September 30, 2013 and 2012 was 35.2% and 34.8%, respectively. The effective tax rate was 34.1% for the nine-month period ended September 30, 2013, compared to 35.2% for the same period in 2012. The lower rate for the nine-month period in 2013 was primarily due to the retroactive reinstatement of the exception to U.S. taxation of active financing income as a result of the American Taxpayer Relief Act of 2012 for approximately $2.7 million and changes in the geographic mix of income earned within the U.S. and Canada.

Receivable and equipment on operating lease originations for the three and nine months ended September 30, 2013 and 2012 were as follows (dollars in thousands):

For the nine months ended September 30, 2013 compared to the same period in 2012, the increase in originations was primarily due to increased unit sales of CNH North America equipment.

Total receivables and equipment on operating leases held as of September 30, 2013, December 31, 2012 and September 30, 2012 were as follows (in thousands):

The total retail receivables balance greater than 30 days past due as a percentage of the retail receivables was 0.5%, 0.7% and 0.9% at September 30, 2013, December 31, 2012 and September 30, 2012, respectively. During those same periods, the total wholesale receivables balances greater than 30 days past due as a percentage of the wholesale receivables were not significant. Total retail receivables on nonaccrual status, which represent receivables for which we have ceased accruing finance income, were $31.7 million, $29.3 million and $38.3 million at September 30, 2013, December 31, 2012 and September 30, 2012, respectively. Total wholesale receivables on nonaccrual status were $29.0 million, $61.2 million and $81.2 million at September 30, 2013, December 31, 2012 and September 30, 2012, respectively.

Total receivable write-off amounts and recoveries, by product for the three and nine months ended September 30, 2013 and 2012 were as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,

	2013			2012			2013			2012
Write-offs:
Retail	$	2,567		$	3,067		$	7,819		$	24,456
Wholesale		—			98			127			136
Other		1,478			1,852			4,407			6,220

Total write-offs		4,045			5,017			12,353			30,812

Recoveries:
Retail		(1,100	)		(1,063	)		(2,882	)		(3,942	)
Wholesale		(332	)		(64	)		(573	)		(166	)
Other		(754	)		(894	)		(2,349	)		(2,396	)

Total recoveries		(2,186	)		(2,021	)		(5,804	)		(6,504	)

Write-offs, net of recoveries:
Retail		1,467			2,004			4,937			20,514
Wholesale		(332	)		34			(446	)		(30	)
Other		724			958			2,058			3,824

Total write-offs, net of recoveries	$	1,859		$	2,996		$	6,549		$	24,308

Our allowance for credit losses on all receivables financed totaled $109.3 million at September 30, 2013, $122.3 million at December 31, 2012 and $98.4 million at September 30, 2012. The level of the allowance is based on many quantitative and qualitative factors, including historical loss experience by product category, portfolio duration, delinquency trends, economic conditions and credit risk quality. We believe our allowance is sufficient to provide for losses in our existing receivable portfolio.

The following discussion of liquidity and capital resources focuses principally on our statements of cash flows, balance sheets and capitalization. CNH Capital's current funding strategy is to maintain sufficient liquidity and flexible access to a wide variety of financial instruments and funding options.

In the past, securitization has been one of our most economical sources of funding and, therefore, the majority of our originated receivables were securitized, with the cash generated from such receivables utilized to repay the related debt. We expect securitization to continue to represent a substantial portion of our capital structure.

In addition, we have committed secured and unsecured facilities, unsecured bonds, affiliate borrowings and cash to fund our liquidity and capital needs.

Since 2011, we have accessed the unsecured bond market in order to add more diversity to our funding resources. Our outstanding unsecured senior notes totaled $1.85 billion as of September 30, 2013. We expect continued changes to our funding profile, with less reliance on the securitization market, as costs and terms of accessing the unsecured term market continue to improve.

For the nine months ended September 30, 2013 and 2012, our cash flows were as follows (in thousands):

Operating activities in the nine months ended September 30, 2013 generated cash of $443 million, resulting primarily from net income of $198 million, a decrease in affiliated accounts and notes receivables of $81 million, a decrease in other assets and equipment held for sale of $26 million and an increase in accounts payable and other accrued liabilities of $56 million. Cash generated from operating activities in the nine months ended September 30, 2013 decreased, compared to the nine months ended September 30, 2012, primarily due to a lower reduction in affiliated accounts and notes receivables and other assets and equipment held for sale, partially offset by a decrease in payments of accounts payable and other accrued liabilities.

Cash flows used in investing activities in the nine months ended September 30, 2013 totaled $2,090 million, resulting primarily from a net growth in receivables of $1,990 million and from $391 million in expenditures for equipment on operating leases, partially offset by a decrease in restricted cash of $123 million and proceeds from the sale of equipment on operating leases of $168 million. The increase of cash used in investing activities in the nine months ended September 30, 2013, compared to the nine months ended September 30, 2012, was primarily due to a higher net growth in receivables.

Financing activities in the nine months ended September 30, 2013 generated cash of $1,092 million, resulting primarily from net cash received of $1,490 million from long-term debt, partially offset by net cash paid of $88 million for affiliated debt, $110 million in payment on short-term borrowings and $200 million in dividends paid to CNH America. The increase in cash from financing activities in the nine months ended September 30, 2013, compared to the nine months ended September 30, 2012, was primarily due to a higher increase in net cash received from long-term debt, partially offset by increased payments of affiliated debt and revolving credit facilities and the dividend paid to CNH America.

CNH Capital and its predecessor entities have been securitizing receivables since 1992. Because this market generally remains a cost-effective financing source and allows access to a wide investor base, we expect to continue utilizing securitization as one of our core sources of funding in the near future. CNH Capital has completed public and private issuances of asset-backed securities in both the U.S. and Canada and, as of September 30, 2013, the amounts outstanding were approximately $6.5 billion.

We will strive to continue to tailor our transactions to applicable market conditions while optimizing economic terms and reducing execution risks.

CNH Capital has committed asset-backed facilities with several banks, primarily through their commercial paper conduit programs. Committed asset-backed facilities for the U.S. and Canada totaled $3.8 billion at September 30, 2013, with original borrowing maturities of up to two years. The unused availability under the facilities varies during the year, depending on origination volume and the refinancing of receivables with term securitization transactions and/or other financing. At September 30, 2013, approximately $0.9 billion of funding was available for use under these facilities.

As of September 30, 2013, we had outstanding unsecured senior notes of $750.0 million at an annual fixed rate of 3.875% due 2015, $500.0 million at an annual fixed rate of 6.250% due 2016 and $600.0 million at an annual fixed rate of 3.625% due 2018.

On October 8, 2013, CNH Capital LLC completed an offering of $500.0 million in aggregate principal amount of its 3.250% unsecured notes due 2017, issued at par.

CNH Capital borrows, as needed, from CNH Industrial. This source of funding is primarily used to finance various on-book assets and provides additional flexibility when evaluating market conditions and potential third-party financing options. We have obtained financing from CNHI treasury subsidiaries and, from time to time, have entered into term loan agreements. At September 30, 2013, affiliated debt was $772.7 million, down from $864.0 million at December 31, 2012.

Our equity position also supports our capabilities to access various funding sources. Our stockholder's equity at both September 30, 2013 and December 31, 2012 was $1.5 billion.

The vast majority of CNH Capital's debt is self-liquidating from the cash generated by the underlying amortizing receivables. Normally, additional liquidity should not be necessary for the repayment of such debt. New originations of retail receivables are usually warehoused in committed asset-backed facilities until being refinanced in the term ABS market or with other third-party debt. New wholesale receivables are typically financed through a master trust and funded by variable funding notes or on a term basis. Cash and commitments under the facilities shown in the table below totaled $4.9 billion, of which $1.5 billion was available for use at September 30, 2013.

The liquidity available for use varies due to changes in origination volumes, reflecting the financing needs of our customers, and is influenced by the timing of any refinancing of underlying receivables in the term market.

In connection with a limited number of funding transactions, the Company provides financial guarantees to various parties on behalf of certain foreign financial services subsidiaries of CNHI for approximately $272.6 million.

All statements other than statements of historical fact contained in this quarterly report, including statements regarding our competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, capital expenditures, capital structure or other financial items; costs; and plans and objectives of management regarding operations, products and services, are forward-looking statements. 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," or similar terminology.

Our outlook is predominantly based on our interpretation of what we consider to be key economic assumptions and involves risks and uncertainties that could cause actual results to differ (possibly materially) from such forward-looking statements. Macro-economic factors including monetary policy, interest rates, currency exchange rates, inflation, deflation, credit availability and government intervention in an attempt to influence such factors may have a material impact on our customers and the demand for our services. The demand for CNH North America's products and, in turn, our products and services is influenced by a number of factors, including, among other things: general economic conditions; demand for food; commodity prices, raw material and component prices and stock levels; net farm income levels; availability of credit; developments in biofuels; infrastructure spending rates; housing starts; commercial construction; seasonality of demand; changes and uncertainties in the monetary and fiscal policies of various governmental and regulatory entities; CNH North America's ability to maintain key dealer relationships; currency exchange rates and interest rates; pricing policies by CNH North America or its competitors; political, economic and legislative changes; and the other risks described in "Risk Factors" in our most recent annual report on Form 10-K and this quarterly report. Some of the other significant factors which may affect our results include our access to credit, restrictive covenants in our debt agreements, actions by rating agencies concerning the ratings on our debt and asset-backed securities and the credit rating of CNHI, weather, climate change and natural disasters, actions taken by our competitors, the effect of changes in laws and regulations, the results of legal proceedings and employee relations.

Furthermore, in light of ongoing economic uncertainty, both globally and in the industries in which we operate, it is particularly difficult to forecast our results and any estimates or forecasts of particular periods that we provide are uncertain. We can give no assurance that the expectations reflected in our forward-looking statements will prove to be correct. Our actual results could differ materially from those anticipated in these forward-looking statements. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by the factors we disclose that could cause our actual results to differ materially from our expectations. We undertake no obligation to update or revise publicly any forward-looking statements.

See our critical accounting policies and estimates discussed in our annual report for the year ended December 31, 2012 under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" and Note 2 to our audited consolidated financial statements included in such annual report. There were no material changes to these policies or estimates during the three months ended September 30, 2013.

In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update No. 2013-02 ("ASU 2013-02"), Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. Some of the key amendments require us to present, either on the face of the statement of operations or in the notes, the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income, but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, we are required to cross-reference to other disclosures that provide additional detail about those amounts. ASU 2013-02 became effective for our annual and interim periods beginning January 1, 2013.

Under the supervision, and with the participation, of our management, including our President and Chief Financial Officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Rule 15d-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) as of September 30, 2013. Based on that evaluation, our President and Chief Financial Officer concluded that the disclosure controls and procedures are effective to provide reasonable assurance that information required to be disclosed in our Exchange Act filings is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms and that such information is accumulated and communicated to our management, including our President and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

There has been no change in our internal control over financial reporting during the three months ended September 30, 2013 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

CNH Capital is party to various litigation matters and claims arising from its operations. Management believes that the outcome of these proceedings, individually and in the aggregate, will not have a material adverse effect on CNH Capital's financial position or results of operations.

Our most recent annual report on Form 10-K (Part I, Item 1A) includes a detailed discussion of our risk factors. The information presented below updates, and should be read in conjunction with, the risk factors disclosed in that report.

Credit rating changes could affect our access to funding and our cost of funds, which could in turn adversely affect our financial position and results of operations.

Our access to, and cost of, funding depends on, among other things, the credit ratings of us, CNHI and our ABS transactions. The rating agencies may change our credit ratings or take other similar actions, which could affect our access to the capital markets and the cost and terms of future borrowings and, therefore, could adversely affect our financial position and results of operations. A lack of funding could result in our inability to meet customer demand for equipment financing, while increased funding costs would lead to decreased profits and could result in our inability to meet customer demand at attractive interest rates, which in turn may adversely affect our financial position and results of operations.

Prior to their merger, Fiat Industrial S.p.A. owned approximately 87% of the outstanding common shares of CNH Global N.V., and Fiat Industrial S.p.A. provided financing to us. During the capital markets crisis, which had a material adverse impact on the ABS markets, we relied more heavily upon financing provided by Fiat Industrial S.p.A. and its predecessors. In the event of a repeat of the severe downturn in the ABS markets, we would need to look to alternative funding sources, including CNH Industrial, though CNH Industrial would have no obligation to provide such financing (other than the obligations assumed by CNHI under the support agreement, dated November 4, 2011, between us and CNH Global N.V.). To the extent CNH Industrial does not provide such financing to us when needed, we could suffer from a lack of funding and/or incur increased funding costs if funding is obtained through other third-party sources.

Our participation in cash management pools exposes us to CNH Industrial credit risk, which, in the event of a bankruptcy or insolvency of certain CNH Industrial entities, could render us unable to recover our deposits and in turn materially and adversely affect our financial position and results of operations.

We participate in a group-wide cash management system with other companies within CNH Industrial, including CNH America and CNH Canada Ltd. Our positive cash deposits with CNH Industrial, if any, are either invested by CNH Industrial treasury subsidiaries in highly rated, highly liquid money market instruments or bank deposits, or may be applied by CNH Industrial treasury subsidiaries to meet the financial needs of other CNH Industrial entities and vice versa. While we believe participation in such CNH Industrial treasury subsidiaries' cash management pools provides us with financial benefits, it exposes us to CNH Industrial credit risk. In the event of a bankruptcy or insolvency of CNHI (or any other CNH Industrial entity, including CNH America and CNH Canada Ltd., in the jurisdictions with set off agreements) or in the event of a bankruptcy or insolvency of the CNH Industrial entity in whose name the deposit is pooled, we may be unable to secure the return of such funds to the extent they belong to us, and we may be viewed as a creditor of such CNH Industrial entity with respect to such deposits. It is possible that our claims as a creditor could be subordinated to the rights of third-party creditors in certain

situations. If we are not able to recover our deposits, our financial position and results of operations may be materially and adversely impacted.

		Description

10.1		Supplemental Support Agreement, dated as of September 27, 2013, by and among CNH Capital LLC, CNH Global N.V. and CNH Industrial N.V. (formerly known as FI CBM Holdings N.V.).
12.1		Statement regarding computation of ratio of earnings to fixed charges.
31.1		Certifications of President Pursuant to Exchange Act Rule 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2		Certifications of Chief Financial Officer Pursuant to Exchange Act Rule 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1	†	Certification required by Exchange Act Rule 15(d)-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350).

101	*	Interactive data files pursuant to Rule 405 of Regulation S-T: (i) Consolidated Statements of Income for the three and nine months ended September 30, 2013 and 2012, (ii) Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2013 and 2012, (iii) Consolidated Balance Sheets as of September 30, 2013 and December 31, 2012, (iv) Consolidated Statements of Cash Flows for the nine months ended September 30, 2013 and 2012, (v) Consolidated Statements of Changes in Stockholder's Equity for the nine months ended September 30, 2013 and 2012 and (vi) Condensed Notes to Consolidated Financial Statements.

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.


ý		QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2013
or
o		TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to


Delaware (State or other jurisdiction of incorporation or organization)		39-1937630 (I.R.S. Employer Identification Number)
5729 Washington Avenue Racine, Wisconsin (Address of principal executive offices)	(262) 636-6011 (Registrant's telephone number, including area code)	53406 (Zip code)


Large accelerated filer o		Accelerated filer o		Non-accelerated filer ý (Do not check if a smaller reporting company)		Smaller reporting company o



PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements	1
	Consolidated Statements of Income for the Three and Nine Months Ended September 30, 2013 and 2012 (Unaudited)	1
	Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2013 and 2012 (Unaudited)	2
	Consolidated Balance Sheets as of September 30, 2013 and December 31, 2012 (Unaudited)	3
	Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2013 and 2012 (Unaudited)	5
	Consolidated Statements of Changes in Stockholder's Equity for the Nine Months Ended September 30, 2013 and 2012 (Unaudited)	6
	Condensed Notes to Consolidated Financial Statements (Unaudited)	7
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	42
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		*
Item 4.	Controls and Procedures	51
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	52
Item 1A.	Risk Factors	52
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		*
Item 3.	Defaults Upon Senior Securities		*
Item 4.	Mine Safety Disclosures	53
Item 5.	Other Information	53
Item 6.	Exhibits	53

	September 30, 2013		December 31, 2012

A	$	2,493,088	$	1,873,495
B		1,406,960		967,849
C		243,178		245,652
D		175,742		178,177

Total	$	4,318,968	$	3,265,173

	Retail			Wholesale			Other			Total

Allowance for credit losses:
Beginning balance	$	67,463		$	11,444		$	10,179		$	89,086
Charge-offs		(3,067	)		(98	)		(1,852	)		(5,017	)
Recoveries		1,063			64			894			2,021
Provision		6,765			3,596			1,719			12,080
Foreign currency translation and other		68			69			44			181

Ending balance	$	72,292		$	15,075		$	10,984		$	98,351

	September 30, 2013		December 31, 2012

Titanium	$	4,543,522	$	4,038,596
Platinum		2,172,276		1,994,248
Gold		1,222,373		1,124,612
Silver		194,737		185,712
Bronze		24,450		20,216

Total	$	8,157,358	$	7,363,384

	September 30, 2013				December 31, 2012

	Carrying Amount		Estimated Fair Value*		Carrying Amount		Estimated Fair Value*
Receivables	$	12,654,129	$	12,714,172	$	10,732,276	$	11,074,646
Long-term debt	$	7,694,301	$	7,796,649	$	6,321,551	$	6,451,544

	Total Credit Limit		Utilized		Not Utilized

Commercial revolving accounts	$	3,977,330	$	283,668	$	3,693,662
Wholesale and dealer financing	$	5,887,004	$	4,243,611	$	1,643,393

	September 30, 2013		December 31, 2012		September 30, 2012

Retail receivables	$	8,157,358	$	7,363,384	$	6,963,049
Wholesale receivables		4,318,968		3,265,173		3,907,828
Other		287,055		226,039		314,260
Equipment on operating leases		885,538		754,371		738,517

Total receivables and equipment on operating leases	$	13,648,919	$	11,608,967	$	11,923,654

	2013			2012

Cash flows provided by (used in):
Operating activities	$	443,459		$	510,526
Investing activities		(2,090,310	)		(1,692,222	)
Financing activities		1,092,305			880,525

Net cash decrease	$	(554,546	)	$	(301,171	)

	(in thousands)

Cash, cash equivalents and restricted cash	$	831,221
Committed asset-backed facilities		3,753,986
Committed unsecured facilities		350,000

Total cash and facilities		4,935,207
Less: restricted cash		599,854
Less: facilities utilization		2,869,142

Total available for use	$	1,466,211


	CNH CAPITAL LLC
Date: November 6, 2013	/s/ STEVEN C. BIERMAN
	Name:	Steven C. Bierman
	Title:	Chairman and President