XML 36 R16.htm IDEA: XBRL DOCUMENT v3.24.0.1
Investments in Unconsolidated Subsidiaries and Affiliates
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Subsidiaries and Affiliates Investments in Unconsolidated Subsidiaries and Affiliates
A summary of investments in unconsolidated subsidiaries and affiliates as of December 31, 2023 and 2022 is as follows:
 
(in millions of dollars)
20232022
Equity method$509 $331 
Other investments, at carrying value54 54 
Total$563 $385 
A summary of the combined results of operations and financial position as reported by the investees that CNH accounts for using the equity method is as follows (unaudited):
Years Ended December 31,
(in millions of dollars)
202320222021
Net revenue$2,748 $2,096 $1,996 
Income before taxes$888 $348 $332 
Net income$733 $280 $247 
As of December 31,
(in millions of dollars)
20232022
Total assets$7,792 $7,290 
Total liabilities$6,347 $6,376 
Total equity$1,445 $914 

The investees included in these tables primarily consists of Al Ghazi Tractors Ltd. (43.2% ownership), Turk Traktor re Ziraat Makineteri A.S. (37.5% ownership), New Holland HFT Japan Inc. (50.0% ownership), CNH de Mexico S.A. de C.V. (50.0% ownership), CIFINS S.p.a (50.0% ownership) and CNH Industrial Capital Europe S.a.S (24.9% ownership owned directly by CIFINS S.p.a).