CNH Industrial SEC Filings

6-K
CNH INDUSTRIAL N.V. filed this Form 6-K on 11/06/2017
Entire Document
 

CNH INDUSTRIAL N.V.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Nine Months Ended September 30, 2017 and 2016

(Unaudited)

 

 

Nine Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

 

(in millions)

 

Operating activities:

 

 

 

 

 

 

 

 

Net income (loss)

 

$

353

 

 

$

(345

)

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization expense, net of assets under operating leases and assets sold under buy-back commitments

 

 

540

 

 

 

537

 

Depreciation and amortization expense of assets under operating leases and assets sold under buy-back commitments

 

 

430

 

 

 

406

 

Loss from disposal of assets

 

 

23

 

 

 

2

 

Loss on repurchase/early redemption of notes

 

 

56

 

 

 

38

 

Undistributed income (loss) of unconsolidated subsidiaries

 

 

(22

)

 

 

52

 

Other non-cash items

 

 

130

 

 

 

172

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Provisions

 

 

163

 

 

 

500

 

Deferred income taxes

 

 

(80

)

 

 

14

 

Trade and financing receivables related to sales, net

 

 

28

 

 

 

367

 

Inventories, net

 

 

(1,222

)

 

 

(754

)

Trade payables

 

 

232

 

 

 

(173

)

Other assets and liabilities

 

 

(26

)

 

 

304

 

Net cash provided by operating activities

 

$

605

 

 

$

1,120

 

Investing activities:

 

 

 

 

 

 

 

 

Additions to retail receivables

 

 

(2,857

)

 

 

(2,747

)

Collections of retail receivables

 

 

3,104

 

 

 

3,287

 

Proceeds from the sale of assets, net of assets under operating leases and assets sold under buy-back commitments

 

 

11

 

 

 

8

 

Proceeds from the sale of assets previously under operating leases and assets sold under buy-back commitments

 

 

594

 

 

 

429

 

Expenditures for property, plant and equipment and intangible assets, net of assets under operating leases and assets sold under buy-back commitments

 

 

(278

)

 

 

(290

)

Expenditures for assets under operating leases and assets sold under buy-back commitments

 

 

(1,196

)

 

 

(1,091

)

Other

 

 

82

 

 

 

(42

)

Net cash used in investing activities

 

$

(540

)

 

$

(446

)

Financing activities:

 

 

 

 

 

 

 

 

Proceeds from long-term debt

 

 

11,096

 

 

 

8,778

 

Payments of long-term debt

 

 

(11,994

)

 

 

(9,146

)

Net decrease in other financial liabilities

 

 

(187

)

 

 

(451

)

Dividends paid

 

 

(166

)

 

 

(205

)

Other

 

 

(16

)

 

 

(58

)

Net cash used in financing activities

 

$

(1,267

)

 

$

(1,082

)

Effect of foreign exchange rate changes on cash and cash equivalents

 

 

285

 

 

 

157

 

Decrease in cash and cash equivalents

 

 

(917

)

 

 

(251

)

Cash and cash equivalents, beginning of year

 

 

5,017

 

 

 

5,384

 

Cash and cash equivalents, end of period

 

$

4,100

 

 

$

5,133

 

See accompanying notes to the condensed consolidated financial statements


 

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