CNH Industrial SEC Filings

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

Equity in Income of Unconsolidated Subsidiaries and Affiliates

Equity in income of unconsolidated subsidiaries and affiliates totaled $21 million and $13 million for the third quarter of 2017 and 2016, respectively.

Net Income

Net income was $57 million in the third quarter of 2017 compared to net income of $39 million in the third quarter of 2016.

Industrial Activities and Business Segments

The following tables show revenues and operating profit by segment. We have also included a discussion of our results by Industrial Activities and each of our business segments.

 

 

Three Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

% Change

 

 

% Change excl. FX

 

 

 

(in millions, except percentages)

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural Equipment

 

$

2,651

 

 

$

2,359

 

 

 

12.4

%

 

 

9.4

%

Construction Equipment

 

 

642

 

 

 

595

 

 

 

7.9

%

 

 

6.0

%

Commercial Vehicles

 

 

2,537

 

 

 

2,114

 

 

 

20.0

%

 

 

14.7

%

Powertrain

 

 

1,075

 

 

 

850

 

 

 

26.5

%

 

 

20.4

%

Eliminations and other

 

 

(574

)

 

 

(457

)

 

n.m.

 

 

n.m.

 

Total net sales of Industrial Activities

 

 

6,331

 

 

 

5,461

 

 

 

15.9

%

 

 

12.0

%

Financial Services

 

 

409

 

 

 

386

 

 

 

6.0

%

 

 

3.4

%

Eliminations and other

 

 

(110

)

 

 

(98

)

 

n.m.

 

 

n.m.

 

Total revenues

 

$

6,630

 

 

$

5,749

 

 

 

15.3

%

 

 

11.5

%

n.m. – not meaningful

 

 

 

Three Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

$ Change

 

 

 

(in millions)

 

Operating profit:

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural Equipment

 

$

208

 

 

$

155

 

 

$

53

 

Construction Equipment

 

 

13

 

 

 

1

 

 

 

12

 

Commercial Vehicles

 

 

59

 

 

 

64

 

 

 

(5

)

Powertrain

 

 

88

 

 

 

52

 

 

 

36

 

Eliminations and other

 

 

(17

)

 

 

(24

)

 

 

7

 

Total operating profit of Industrial Activities

 

 

351

 

 

 

248

 

 

 

103

 

Financial Services

 

 

120

 

 

 

114

 

 

 

6

 

Eliminations and other

 

 

(83

)

 

 

(84

)

 

 

1

 

Total operating profit

 

$

388

 

 

$

278

 

 

$

110

 

Net sales of Industrial Activities were $6,331 million during the third quarter of 2017, a 15.9% increase (up 12.0% on a constant currency basis) compared to the same period of 2016 driven by increased revenues in each segment.

Operating profit of Industrial Activities was $351 million in the third quarter of 2017, a $103 million or 41% increase from the third quarter of 2016, with an operating margin of 5.5%, up 1.0 percentage point (“p.p.”) compared to the third quarter of 2016.

 

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