CNH Industrial NV
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
CNH$12.26-4.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| (in millions of dollars) · 2023 · 2022 · 2021 | |||||
|---|---|---|---|---|---|
| Cash Flows from Operating Activities | |||||
| Net income (loss) | $2,383 | $2,039 | $1,760 | ||
| Less: Net income (loss) from discontinued operations | — | — | (41) | ||
| Net income (loss) of continuing operations | 2,383 | 2,039 | 1,801 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||
| Depreciation and amortization expense excluding depreciation and amortization of assets under operating lease | 377 | 327 | 295 | ||
| Depreciation and amortization expense of assets under operating lease | 187 | 208 | 242 | ||
| (Gain) loss from disposal of assets | 10 | (42) | — | ||
| Loss on repurchase of notes | — | — | 8 | ||
| Undistributed income (loss) of unconsolidated subsidiaries | (211) | (69) | (29) | ||
| Other non-cash items | 173 | 196 | 126 | ||
| Changes in operating assets and liabilities: | |||||
| Provisions | 911 | 189 | 93 | ||
| Deferred income taxes | (535) | (50) | (273) | ||
| Trade and financing receivables related to sales, net | (2,268) | (2,447) | 191 | ||
| Inventories, net | (259) | (151) | (555) | ||
| Trade payables | (157) | 125 | 738 | ||
| Other assets and liabilities | 296 | 232 | 561 | ||
| Cash flow from operating activities (discontinued operation) | — | — | 884 | ||
| Net cash provided by operating activities | 907 | 557 | 4,082 | ||
| Cash Flows from Investing Activities | |||||
| Additions to retail receivables | (8,069) | (5,971) | (5,328) | ||
| Collections of retail receivables | 5,824 | 4,360 | 4,338 | ||
| Proceeds from the sale of assets, net of assets under operating leases | 16 | 97 | 11 | ||
| Expenditures for property, plant and equipment and intangible assets excluding assets under operating lease | (644) | (461) | (365) | ||
| Expenditures for assets under operating leases | (551) | (538) | (556) | ||
| Other, net | (275) | (496) | (2,670) | ||
| Cash flow from investing activities (discontinued operation) | — | — | (431) | ||
| Net cash used in investing activities | (3,699) | (3,009) | (5,001) | ||
| Cash Flows from Financing Activities | |||||
| Proceeds from long-term debt | 9,941 | 11,183 | 7,988 | ||
| Payments of long-term debt | (8,224) | (9,223) | (9,088) | ||
| Net increase (decrease) in other financial liabilities | 2,071 | 580 | (111) | ||
| Dividends paid | (538) | (423) | (188) | ||
| Purchase of treasury stock and other | (652) | (153) | — | ||
| Cash flow from financing activities (discontinued operation) | — | — | (46) | ||
| Net cash provided (used) by financing activities | 2,598 | 1,964 | (1,445) | ||
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 110 | (228) | (403) | ||
| Net increase (decrease) in cash, cash equivalents and restricted cash | (84) | (716) | (2,767) | ||
| Cash, cash equivalents and restricted cash, beginning of year | 5,129 | 5,845 | 9,629 | ||
| Cash, cash equivalents and restricted cash, end of year | $5,045 | $5,129 | $6,862 | ||
| Cash, cash equivalents and restricted cash, end of year (discontinued operation) | — | — | 1,017 | ||
| Cash, cash equivalents and restricted cash, end of year (continuing operations) | 5,045 | 5,129 | 5,845 | ||
| Components of cash, cash equivalents and restricted cash | |||||
| Cash and cash equivalents | $4,322 | $4,376 | $5,044 | ||
| Restricted cash | 723 | 753 | 801 | ||
| Total cash, cash equivalents and restricted cash | $5,045 | $5,129 | $5,845 | ||
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