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Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table includes reported segment revenue and income, significant segment expenses and other segment items considered in the calculation of both Adjusted EBIT for Industrial Activities' and Income before income taxes for Financial Services.
Years Ended December 31, 2024
(in millions of dollars)
Agriculture(1)
Construction
Financial Services (2)
Total
Net Sales$14,007 $3,053 $— 
Finance, interest income (Financial Services)— — 2,774 
Total Revenues14,007 3,053 2,774 
Cost of goods sold(10,796)(2,554)— 
Selling, general and administrative expenses(6)
(1,031)(235)(332)
Research and Development Expenses(829)(95)— 
Interest Expense (Financial Services)— — (1,457)
Restructuring Expenses (Financial Services)— — (1)
Other, Net (Financial Services)— — (514)
Equity in income of joint ventures119 — 19 
Adjusted EBIT [A]
1,470 169 n/a
Income before income taxes [B]
n/an/a489 
Segment Profit/(loss) [C=A+B]
$2,128 
Interest Income/(expenses), net (excluding Financial Services)$(152)
Restructuring expenses (Industrial Activities)(117)
Foreign exchange (gains) losses, net (Agriculture & Construction)(15)
Finance and non-service component of Pension and other post employment benefit costs (Agriculture & Construction)(4)
(10)
Unallocated amounts (3)
(235)
Discrete items excluded from Segments(5)
(4)
Income tax expense(336)
Net income$1,259 
    
Years Ended December 31, 2023
(in millions of dollars)
AgricultureConstruction
Financial Services (2)
Total
Net Sales$18,148 $3,932 $— 
Finance, interest income— — 2,573 
Total Revenues18,148 3,932 2,573 
Cost of goods sold(13,521)(3,317)— 
Selling, general and administrative expenses(6)
(1,214)(273)(218)
Research and Development Expenses(937)(104)— 
Interest Expense (Financial Services)— — (1,235)
Restructuring Expenses (Financial Services)— — (2)
Other, Net (Financial Services)— — (629)
Equity in income of joint ventures160 — 18 
Adjusted EBIT [A]
2,636 238 n/a
Income before income taxes [B]
n/an/a507 
Segment Profit/(loss) [C=A+B]
$3,381 
Interest Income/(expenses), net (excluding Financial Services)$(76)
Restructuring expenses (Agriculture & Construction)(65)
Foreign exchange (gains) losses, net (Agriculture & Construction)(105)
Finance and non-service component of Pension and other post employment benefit costs (Agriculture & Construction)(4)
(4)
Unallocated amounts (3)
(240)
Discrete items excluded from Segments(5)
(10)
Income tax expense(594)
Net income$2,287 
Years Ended December 31, 2022
(in millions of dollars)
AgricultureConstruction
Financial Services (2)
Total
Net Sales
$17,969 $3,572 $— 
Finance, interest income— — 1,996 
Total Revenues17,969 3,572 1,996 
Cost of goods sold(13,685)(3,098)— 
Selling, general and administrative expenses(6)
(1,139)(262)(203)
Research and Development Expenses(778)(88)— 
Interest Expense (Financial Services)— — (601)
Other, Net (Financial Services)— — (744)
Equity in income of joint ventures89 — 15 
Adjusted EBIT [A]
2,456 124 n/a
Income before income taxes [B]
n/an/a463 
Segment Profit/(loss) [C=A+B]
$3,043 
Interest Income/(expenses), net (excluding Financial Services)$(119)
Restructuring expenses (Agriculture & Construction)(31)
Foreign exchange (gains) losses, net (Agriculture & Construction)(59)
Finance and non-service component of Pension and other post employment benefit costs (Agriculture & Construction)(4)
124 
Unallocated amounts (3)
(147)
Discrete items excluded from Segments(5)
(25)
Income tax expense(747)
Net income$2,039 
(1)See Note 23 Immaterial Revision of Prior Period Financial Statements.
(2)For Financial Services, the CODM uses Income before income taxes as the measure to allocate resources and assess segment performance. Interest income and interest expenses are presented as significant segment items considered in the calculation of net income.
(3)Unallocated amounts includes certain corporate costs and other operating expenses and incomes not allocated to segments' results.
(4)In the years ended December 31, 2024, 2023 and 2022, this item includes an annual pre-tax gain of $24 million, respectively as a result of the amortization over 4 years of the $101 million positive impact from the 2021 modifications of a healthcare plan in the U.S. In the years ended December 31, 2022, this item includes the pre-tax gain of $90 million as a result of the amortization over approximately 4.5 years of the $527 million positive impact from 2018 modification of a healthcare plan in the U.S.
(5)In the year ended December 31, 2024, this item includes a loss of $17 million on the sale of certain non-core product lines and a gain of $14 million for investment fair value adjustments. In the year ended December 31, 2023, this item includes a loss of $23 million on the sale of the CNH Industrial Russia and CNH Capital Russia businesses, partially offset by a gain of $13 million for the fair value remeasurement of Augmenta and Bennamann. In the year ended December 31, 2022, this item included $43 million of asset write-downs, $25 million of separation costs incurred in a connection with our spin-off of the Iveco Group Business and $22 million of costs related to the activity of the Raven segments held for sale, including the loss on the sale of the Engineered Films and Aerostar divisions, partially offset by a $65 million dollar gain on the sale of our Canada parts depot.
(6)In the years ended December 31, 2024, 2023 and 2022, this item included risk costs for the Financial Services segment of $204 million, $80 million and $72 million, respectively.
Schedule of operating segment information
A summary of additional operating segment information for the years ended December 31, 2024, 2023 and 2022 is as follows:
 
Years Ended December 31,
(in millions of dollars)
202420232022
Revenues
Agriculture$14,007 $18,148 $17,969 
Construction3,053 3,932 3,572 
Net sales17,060 22,080 21,541 
Financial Services2,774 2,573 1,996 
Eliminations and other2 34 14 
Total Revenues$19,836 $24,687 $23,551 
Depreciation and Amortization (1)
Agriculture$366 $331 $287 
Construction45 42 38 
Other activities and adjustments2 — — 
Depreciation and amortization of Industrial Activities 413 373 325 
Financial Services4 4 2 
Total Depreciation and amortization$417 $377 $327 
Expenditures for long-lived assets (2)
Agriculture$455 $534 $393 
Construction75 96 63 
Other activities3 7 — 
Expenditures for long-lived assets of Industrial Activities533 637 456 
Financial Services3 7 5 
Total Expenditures for long-lived assets$536 $644 $461 
Inventory
Agriculture$3,730 $4,299 $3,783 
Construction983 1,223 1,015 
Financial Services63 23 13 
Total Inventory$4,776 $5,545 $4,811 
Equity Method Investments
Agriculture$284 $302 $218 
Financial Services119 123 113 
Total Equity Method Investments$403 $425 $331 

(1) Excluding equipment on operating leases.
(2) Excluding equipment on operating leases and right-of-use assets.
Schedule of net revenue The following highlights revenues earned from external customers in the rest of the world by destination:
 
(in millions of dollars)
202420232022
United States$7,193 $9,090 $8,189 
Brazil2,748 3,540 3,904 
Canada1,745 1,712 1,530 
France1,060 1,300 1,123 
Australia888 1,222 982 
Argentina566 574 565 
India532 499 470 
Italy422 562 592 
Germany399 633 674 
China326 300 267 
Poland287 373 449 
Spain259 263 263 
Other3,052 4,071 3,986 
Total Revenues from external customers in the rest of world$19,477 $24,139 $22,994 
Schedule of long-lived assets by geographical area The following highlights long-lived tangible and intangible assets by geography in the rest of the world:
At December 31,
(in millions of dollars)
20242023
United States$5,795 $5,701 
Canada680 732 
Italy466 499 
Brazil202 226 
France62 60 
China51 53 
Germany19 24 
Spain3 3 
Other605 610 
Total Long-lived assets in the rest of the world$7,883 $7,908