CNH Industrial N.V.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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Consolidated Balance Sheets
As of December 31, 2025 and 2024
| (in millions of dollars) | December 31, 2025 | December 31, 2024 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $2,578 | $3,191 |
| Restricted cash | 651 | 675 |
| Trade receivables, net | 226 | 125 |
| Financing receivables, net | 23,105 | 23,085 |
| Financial receivables from Iveco Group N.V. | 195 | 168 |
| Inventories, net | 4,651 | 4,776 |
| Property, plant and equipment, net | 2,181 | 1,936 |
| Investments in unconsolidated affiliates | 437 | 490 |
| Equipment under operating leases | 1,591 | 1,466 |
| Goodwill | 3,617 | 3,584 |
| Other intangible assets, net | 1,086 | 1,221 |
| Deferred tax assets | 1,207 | 927 |
| Derivative assets | 142 | 196 |
| Other assets | 1,080 | 1,093 |
| Total Assets | $42,747 | $42,933 |
| Liabilities and Equity | ||
| Debt | $26,762 | $26,882 |
| Financial payables to Iveco Group N.V. | 91 | 62 |
| Trade payables | 2,247 | 2,292 |
| Deferred tax liabilities | 17 | 28 |
| Pension, postretirement and other postemployment benefits | 366 | 392 |
| Derivative liabilities | 97 | 146 |
| Other liabilities | 5,342 | 5,363 |
| Total Liabilities | 34,922 | 35,165 |
| Redeemable noncontrolling interest | 53 | 55 |
| Common shares, €0.01, par value; outstanding 1,242,064,719 common shares and 370,457,350 loyalty program special voting shares in 2025; and outstanding 1,248,023,791 common shares and 370,994,305 loyalty program special voting shares in 2024 | 25 | 25 |
| Treasury stock, at cost - 122,335,477 shares in 2025 and 116,376,405 shares in 2024 | (1,422) | (1,386) |
| Additional paid-in capital | 1,388 | 1,415 |
| Retained earnings | 10,506 | 10,309 |
| Accumulated other comprehensive loss | (2,767) | (2,712) |
| Noncontrolling interests | 42 | 62 |
| Total Equity | 7,772 | 7,713 |
| Total Liabilities and Equity | $42,747 | $42,933 |
As of December 31, 2025 and 2024
The following table presents certain assets and liabilities of consolidated variable interest entities ("VIEs"), which are included in the Consolidated Balance Sheets above. The assets in the table include those assets that can only be used to settle obligations of consolidated VIEs. The liabilities in the table include third party liabilities of the consolidated VIEs, for which creditors do not have recourse to the general credit of CNH. See "Note 4: Receivables" of the Consolidated Financial Statements for additional information on the Company's VIEs.
| (in millions of dollars) | December 31, 2025 | December 31, 2024 |
|---|---|---|
| Restricted cash | $541 | $585 |
| Financing receivables, net | 10,248 | 10,831 |
| Total Assets | $10,789 | $11,416 |
| Debt | $10,025 | $10,577 |
| Total Liabilities | $10,025 | $10,577 |
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