CNH Industrial SEC Filings

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

 

 

Statements of Cash Flows

 

 

 

Industrial Activities

 

 

Financial Services

 

 

 

Nine Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

(in millions)

 

Operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

353

 

 

$

(345

)

 

$

260

 

 

$

251

 

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

 

 

536

 

 

 

533

 

 

 

4

 

 

 

4

 

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

 

 

232

 

 

 

215

 

 

 

198

 

 

 

191

 

Loss from disposal of assets

 

 

23

 

 

 

2

 

 

 

 

 

 

 

Loss on repurchase/early redemption of notes

 

 

56

 

 

 

38

 

 

 

 

 

 

 

Undistributed income (loss) of unconsolidated subsidiaries

 

 

(4

)

 

 

62

 

 

 

(20

)

 

 

(19

)

Other non-cash items

 

 

70

 

 

 

83

 

 

 

60

 

 

 

89

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provisions

 

 

165

 

 

 

501

 

 

 

(2

)

 

 

(1

)

Deferred income taxes

 

 

(84

)

 

 

(4

)

 

 

4

 

 

 

18

 

Trade and financing receivables related to sales, net

 

 

89

 

 

 

(61

)

 

 

(53

)

 

 

428

 

Inventories, net

 

 

(1,208

)

 

 

(740

)

 

 

(14

)

 

 

(14

)

Trade payables

 

 

228

 

 

 

(114

)

 

 

3

 

 

 

(59

)

Other assets and liabilities

 

 

(100

)

 

 

161

 

 

 

67

 

 

 

143

 

Net cash provided by operating activities

 

$

356

 

 

$

331

 

 

$

507

 

 

$

1,031

 

Investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additions to retail receivables

 

 

 

 

 

 

 

 

(2,857

)

 

 

(2,747

)

Collections of retail receivables

 

 

 

 

 

 

 

 

3,104

 

 

 

3,287

 

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

 

 

11

 

 

 

8

 

 

 

 

 

 

 

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

 

 

236

 

 

 

169

 

 

 

358

 

 

 

260

 

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

 

 

(277

)

 

 

(290

)

 

 

(1

)

 

 

 

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

 

 

(717

)

 

 

(600

)

 

 

(479

)

 

 

(491

)

Other

 

 

(156

)

 

 

496

 

 

 

193

 

 

 

(538

)

Net cash provided by (used in) investing activities

 

$

(903

)

 

$

(217

)

 

$

318

 

 

$

(229

)

Financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Proceeds from long-term debt

 

 

1,500

 

 

 

1,705

 

 

 

9,596

 

 

 

7,072

 

Payments of long-term debt

 

 

(2,044

)

 

 

(1,291

)

 

 

(9,950

)

 

 

(7,854

)

Net decrease in other financial liabilities

 

 

(72

)

 

 

(299

)

 

 

(115

)

 

 

(152

)

Dividends paid

 

 

(166

)

 

 

(205

)

 

 

(258

)

 

 

(242

)

Other

 

 

(16

)

 

 

(58

)

 

 

45

 

 

 

-

 

Net cash used in financing activities

 

$

(798

)

 

$

(148

)

 

$

(682

)

 

$

(1,176

)

Effect of foreign exchange rate changes on cash and cash equivalents

 

 

265

 

 

 

115

 

 

 

20

 

 

 

42

 

Increase (decrease) in cash and cash equivalents

 

 

(1,080

)

 

 

81

 

 

 

163

 

 

 

(332

)

Cash and cash equivalents, beginning of year

 

 

4,649

 

 

 

4,551

 

 

 

368

 

 

 

833

 

Cash and cash equivalents, end of period

 

$

3,569

 

 

$

4,632

 

 

$

531

 

 

$

501

 

 

 

31