CNH Industrial SEC Filings

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

 

 

Statement of Operations

 

 

 

Industrial Activities

 

 

Financial Services

 

 

 

Three Months Ended September 30,

 

 

Three Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

(in millions)

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

6,331

 

 

$

5,461

 

 

$

 

 

$

 

Finance and interest income

 

 

28

 

 

 

39

 

 

 

409

 

 

 

386

 

Total revenues

 

$

6,359

 

 

$

5,500

 

 

$

409

 

 

$

386

 

Costs and expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

$

5,242

 

 

$

4,524

 

 

$

 

 

$

 

Selling, general and administrative expenses

 

 

495

 

 

 

478

 

 

 

64

 

 

 

68

 

Research and development expenses

 

 

243

 

 

 

211

 

 

 

 

 

 

 

Restructuring expenses

 

 

53

 

 

 

6

 

 

 

 

 

 

 

Interest expense

 

 

173

 

 

 

192

 

 

 

140

 

 

 

132

 

Interest compensation to Financial Services

 

 

84

 

 

 

84

 

 

 

 

 

 

 

Other, net

 

 

88

 

 

 

60

 

 

 

86

 

 

 

73

 

Total costs and expenses

 

$

6,378

 

 

$

5,555

 

 

$

290

 

 

$

273

 

Income (loss) before income taxes and equity in income of unconsolidated subsidiaries and affiliates

 

 

(19

)

 

 

(55

)

 

 

119

 

 

 

113

 

Income tax (expense) benefit

 

 

(24

)

 

 

10

 

 

 

(40

)

 

 

(42

)

Equity in income of unconsolidated subsidiaries and affiliates

 

 

14

 

 

 

7

 

 

 

7

 

 

 

6

 

Results from intersegment investments

 

 

86

 

 

 

77

 

 

 

 

 

 

 

Net income

 

$

57

 

 

$

39

 

 

$

86

 

 

$

77

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statement of Operations

 

 

 

Industrial Activities

 

 

Financial Services

 

 

 

Nine Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

(in millions)

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

18,370

 

 

$

16,987

 

 

$

 

 

$

 

Finance and interest income

 

 

93

 

 

 

103

 

 

 

1,205

 

 

 

1,173

 

Total revenues

 

$

18,463

 

 

$

17,090

 

 

$

1,205

 

 

$

1,173

 

Costs and expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

$

15,166

 

 

$

14,014

 

 

$

 

 

$

 

Selling, general and administrative expenses

 

 

1,491

 

 

 

1,475

 

 

 

185

 

 

 

212

 

Research and development expenses

 

 

662

 

 

 

619

 

 

 

 

 

 

 

Restructuring expenses

 

 

75

 

 

 

30

 

 

 

2

 

 

 

1

 

Interest expense

 

 

462

 

 

 

494

 

 

 

408

 

 

 

390

 

Interest compensation to Financial Services

 

 

250

 

 

 

245

 

 

 

 

 

 

 

Other, net

 

 

204

 

 

 

741

 

 

 

251

 

 

 

213

 

Total costs and expenses

 

$

18,310

 

 

$

17,618

 

 

$

846

 

 

$

816

 

Income (loss) before income taxes and equity in income of unconsolidated subsidiaries and affiliates

 

 

153

 

 

 

(528

)

 

 

359

 

 

 

357

 

Income tax (expense) benefit

 

 

(106

)

 

 

(54

)

 

 

(119

)

 

 

(125

)

Equity in income of unconsolidated subsidiaries and affiliates

 

 

46

 

 

 

(14

)

 

 

20

 

 

 

19

 

Results from intersegment investments

 

 

260

 

 

 

251

 

 

 

 

 

 

 

Net income (loss)

 

$

353

 

 

$

(345

)

 

$

260

 

 

$

251

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

29