CNH Industrial NV
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
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Investments in Unconsolidated Subsidiaries and Affiliates
Note 7: Investments in Unconsolidated Subsidiaries and Affiliates
A summary of investments in unconsolidated subsidiaries and affiliates as of December 31, 2024 and 2023 is as follows:
| (in millions of dollars) | 2024 | 2023(1) | |
|---|---|---|---|
| Equity method | $403 | $425 | |
| Other investments, at carrying value | 87 | 54 | |
| Total | $490 | $479 |
A summary of the combined results of operations and financial position as reported by the investees that CNH accounts for using the equity method is as follows (unaudited):
| Years Ended December 31, | |||||
|---|---|---|---|---|---|
| (in millions of dollars) | 2024 | 2023(1) | 2022 | ||
| Net revenue | $2,621 | $2,748 | $2,096 | ||
| Income before taxes | $481 | $632 | $348 | ||
| Net income | $380 | $477 | $280 | ||
| As of December 31, | |||
|---|---|---|---|
| (in millions of dollars) | 2024 | 2023(1) | |
| Total assets | $7,558 | $7,568 | |
| Total liabilities | $6,430 | $6,347 | |
| Total equity | $1,128 | $1,221 | |
The investees included in these tables primarily consists of Al Ghazi Tractors Ltd. (43.2% ownership), TürkTraktör ve Ziraat Makineleri A.S. (37.5% ownership), New Holland HFT Japan Inc. (50.0% ownership), CNH de Mexico S.A. de C.V. (50.0% ownership), CIFINS S.p.a (50.0% ownership) and CNH Industrial Capital Europe S.a.S (24.9% ownership owned directly by CIFINS S.p.a).
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