CNH Industrial SEC Filings

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

The changes, net of tax, in each component of accumulated other comprehensive income (loss) consisted of the following (in millions):

 

 

Unrealized

Gain (Loss) on

Cash Flow

Hedges

 

 

Change in

Retirement Plans’

Funded Status

 

 

Foreign Currency

Translation

 

 

Share of Other

Comprehensive

Income (Loss) of

Entities Using

the Equity

Method

 

 

Total

 

Balance, January 1, 2016

 

$

3

 

 

$

(947

)

 

$

(806

)

 

$

(113

)

 

$

(1,863

)

Other comprehensive income (loss), before reclassifications

 

 

19

 

 

 

(20

)

 

 

159

 

 

 

3

 

 

 

161

 

Amounts reclassified from other comprehensive income (loss)

 

 

(46

)

 

 

59

 

 

 

 

 

 

 

 

 

13

 

Other comprehensive income (loss) *

 

 

(27

)

 

 

39

 

 

 

159

 

 

 

3

 

 

 

174

 

Balance, September 30, 2016

 

$

(24

)

 

$

(908

)

 

$

(647

)

 

$

(110

)

 

$

(1,689

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, January 1, 2017

 

$

(88

)

 

$

(1,036

)

 

$

(490

)

 

$

(153

)

 

$

(1,767

)

Other comprehensive income (loss), before reclassifications

 

 

48

 

 

 

 

 

 

(362

)

 

 

51

 

 

 

(263

)

Amounts reclassified from other comprehensive income (loss)

 

 

33

 

 

 

45

 

 

 

 

 

 

 

 

 

78

 

Other comprehensive income (loss) *

 

 

81

 

 

 

45

 

 

 

(362

)

 

 

51

 

 

 

(185

)

Balance, September 30, 2017

 

$

(7

)

 

$

(991

)

 

$

(852

)

 

$

(102

)

 

 

(1,952

)

 

(*)  

Excluded from the table above is other comprehensive income (loss) allocated to noncontrolling interests of $(2) million and $2 million for the nine months ended September 30, 2017 and 2016, respectively.

 

Significant amounts reclassified out of each component of accumulated other comprehensive income (loss) in the three and nine months ended September 30, 2017 and 2016 consisted of the following:

 

 

Amounts reclassified from other comprehensive income (loss)

 

 

Amount reclassified from other comprehensive

income (loss)

 

 

Consolidated statement

of operations line

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

 

 

(in millions)

 

 

(in millions)

 

 

 

Cash flow hedges

 

$

(2

)

 

$

(18

)

 

$

(4

)

 

$

(38

)

 

Net sales

 

 

 

9

 

 

 

5

 

 

 

43

 

 

 

(17

)

 

Cost of goods sold

 

 

 

(4

)

 

 

1

 

 

 

(8

)

 

 

(5

)

 

Other, net

 

 

 

1

 

 

 

 

 

 

2

 

 

 

3

 

 

Interest expense

 

 

 

1

 

 

 

2

 

 

 

 

 

 

11

 

 

Income taxes

 

 

$

5

 

 

$

(10

)

 

$

33

 

 

$

(46

)

 

 

Change in retirement plans’ funded status:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of actuarial losses

 

$

22

 

 

$

23

 

 

$

69

 

 

$

69

 

 

*

Amortization of prior service cost

 

 

(1

)

 

 

 

 

 

(2

)

 

 

(2

)

 

*

 

 

 

(6

)

 

 

(3

)

 

 

(22

)

 

 

(8

)

 

Income taxes

 

 

$

15

 

 

$

20

 

 

$

45

 

 

$

59

 

 

 

Total reclassifications, net of tax

 

$

20

 

 

$

10

 

 

$

78

 

 

$

13

 

 

 

 

(*)

These amounts are included in net periodic pension and other postretirement benefit cost. See “Note 6: Employee Benefit Plans and Postretirement Benefits” for additional information.

 

 

 

 

26