SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

On April 10, 2023, CNH Industrial Capital LLC completed its notes offering of $600 million in aggregate principal amount of 4.550% notes due 2028, with an issue price of 98.857%.

On May 3, 2023, the Company paid a dividend of €0.36 per share ($0.39398 per share for shareholders holding shares traded on the New York Stock Exchange). The total dividend distribution was €483 million or $527 million.

On April 19, 2023 CNH Industrial announced the divestiture of its business activities in Russia for a total consideration of approximately $60 million. Until March of 2022, the Company operated a corporate office in the Moscow region through which it managed the import and distribution of its products in Russia, regional business activities and commercial financing. Its industrial footprint included manufacturing sites for agricultural equipment and implements and construction equipment, and a parts depot. The Russian operations revenue and earnings were not material to CNH Industrial's operating results. During the quarter ended March 31, 2022, CNH Industrial recorded charges of $71 million related to assets write down, financial receivable allowances, and a valuation allowance against deferred tax assets. The Company expects that it will take additional pre-tax charges of $10 million to $20 million in connection with the divestiture of the Industrial Activities business in 2023.