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EMPLOYEE BENEFIT PLANS AND POSTRETIREMENT BENEFITS
 6 Months Ended
Jun. 30, 2024
Postemployment Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS AND POSTRETIREMENT BENEFITS EMPLOYEE BENEFIT PLANS AND POSTRETIREMENT BENEFITS
The following table summarizes the components of net periodic benefit cost of CNH’s defined benefit pension plans and postretirement health and life insurance plans for the three and six months ended June 30, 2024 and 2023 (in millions of dollars):
Pension Healthcare Other
Three Months Ended June 30,Three Months Ended June 30,Three Months Ended June 30,
202420232024202320242023
Service cost$3 $2 $— $— $1 $1 
Interest cost13 13 2 2 1 1 
Expected return on assets(14)(11)— — — — 
Amortization of:
Prior service credit— — (6)(9)— — 
Actuarial loss (gain)6 5 — — (1)— 
Net periodic benefit cost$8 $9 $(4)$(7)$1 $2 
Pension Healthcare Other
Six Months Ended June 30,Six Months Ended June 30,Six Months Ended June 30,
202420232024202320242023
Service cost$5 $4 $1 $1 $2 $2 
Interest cost26 27 4 4 2 2 
Expected return on assets(27)(22)(1)(1)— — 
Amortization of:
Prior service credit— — (12)(18)— — 
Actuarial loss (gain)11 9 — — (1)— 
Net periodic benefit cost$15 $18 $(8)$(14)$3 $4 
In 2021, CNH communicated plan changes for the U.S. retiree medical plan. The plan changes resulted in a reduction of the plan liability of $100 million. This amount will be amortized from other comprehensive income to the income statement over approximately 4 years, which represents the average service period to attain eligibility conditions for active
participants. For the three and six months ended June 30, 2024 and 2023, $6 million and $12 million of amortization was recorded as a pre-tax gain in Other, net, respectively.