EMPLOYEE BENEFIT PLANS AND POSTRETIREMENT BENEFITS (Tables)

9 Months Ended

Sep. 30, 2022

Postemployment Benefits [Abstract]

Summary of Net Periodic Benefit Cost

The following table summarizes the components of net periodic benefit cost of CNH Industrial’s defined benefit pension plans and postretirement health and life insurance plans for the three and nine months ended September 30, 2022 and 2021:

	Pension				Healthcare				Other
	Three Months Ended September 30,				Three Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021		2022		2021
	(in millions)
Service cost	$	2	$	3	$	1	$	1	$	1	$	2
Interest cost	6		5		2		1		1		—
Expected return on assets	(11)		(13)		(1)		(2)		—		—
Amortization of:
Prior service credit	—		—		(31)		(34)		—		—
Actuarial loss	4		6		1		1		—		1
Net periodic benefit cost	$	1	$	1	$	(28)	$	(33)	$	2	$	3

	Pension				Healthcare				Other
	Nine Months Ended September 30,				Nine Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021		2022		2021
	(in millions)
Service cost	$	8	$	10	$	3	$	3	$	4	$	5
Interest cost	20		14		5		4		1		—
Expected return on assets	(35)		(40)		(4)		(5)		—		—
Amortization of:
Prior service credit	—		—		(94)		(102)		—		—
Actuarial loss	14		19		2		2		—		2
Net periodic benefit cost	$	7	$	3	$	(88)	$	(98)	$	5	$	7

Schedule of Net Amounts Recognized in Consolidated Balance Sheets

Net amounts recognized in the consolidated balance sheet as of December 31, 2021 consisted of:

		Pension		Healthcare		Other
		December 31, 2021		December 31, 2021		December 31, 2021
	(in millions)
Other assets		$	40	$	—	$	—
Pension, postretirement and other postemployment benefits		(409)		(141)		(125)
Net liability recognized at end of year		$	(369)	$	(141)	$	(125)