CNH Industrial Capital 10-K2 Mar 182017 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2017USD ($)shares
Document and Entity Information
Entity Registrant Name	CNH INDUSTRIAL CAPITAL LLC
Entity Central Index Key	1,552,493
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float \| $	$ 0
Entity Common Stock, Shares Outstanding \| shares	0
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
REVENUES
Interest income on retail notes and finance leases									$ 201,533	$ 211,506	$ 208,381
Interest income on wholesale notes									65,721	68,910	72,326
Interest and other income from affiliates									398,258	398,372	408,979
Rental income on operating leases									251,609	243,531	214,187
Other income									21,811	24,402	25,207
Total revenues	$ 241,346	$ 234,889	$ 229,863	$ 232,834	$ 235,184	$ 236,980	$ 240,639	$ 233,918	938,932	946,721	929,080
Interest expense:
Interest expense to third parties									311,128	297,881	269,091
Interest expense to affiliates									11,442	7,218	21,182
Total interest expense	89,273	79,772	78,797	74,728	76,711	77,358	79,059	71,971	322,570	305,099	290,273
Administrative and operating expenses:
Fees charged by affiliates									46,431	45,225	46,771
Provision for credit losses									40,898	30,846	21,895
Depreciation of equipment on operating leases									280,765	247,438	193,802
Other expenses									44,827	36,297	49,499
Total administrative and operating expenses	108,660	106,591	95,994	101,676	97,118	93,298	91,008	78,382	412,921	359,806	311,967
Total expenses									735,491	664,905	602,240
INCOME BEFORE TAXES									203,441	281,816	326,840
Income tax provision (benefit)	(96,357)	14,387	16,885	18,037	22,822	20,995	24,143	26,344	(47,048)	94,304	109,241
NET INCOME									250,489	187,512	217,599
Net income attributed to noncontrolling interest											(259)
NET INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC	$ 139,770	$ 34,139	$ 38,187	$ 38,393	$ 38,533	$ 45,329	$ 46,429	$ 57,221	$ 250,489	$ 187,512	$ 217,340

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$ 250,489	$ 187,512	$ 217,599
Other comprehensive income (loss):
Foreign currency translation adjustment	40,868	15,756	(112,281)
Pension liability adjustment	499	197	226
Change in derivative financial instruments	2,606	1,449	445
Total other comprehensive income (loss)	43,973	17,402	(111,610)
COMPREHENSIVE INCOME	294,462	204,914	105,989
Less: comprehensive income attributable to noncontrolling interest			(259)
COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC	$ 294,462	$ 204,914	$ 105,730

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 226,946	$ 164,247
Restricted cash	648,612	712,845
Receivables, less allowance for credit losses of $79,196 and $84,895, respectively	10,461,733	10,882,070
Affiliated accounts and notes receivable	32,945	83,843
Equipment on operating leases, net	1,781,489	1,858,443
Equipment held for sale	208,516	199,983
Goodwill	110,588	108,715
Other intangible assets, net	6,868	7,366
Other assets	34,381	25,747
TOTAL	13,512,078	14,043,259
Liabilities:
Short-term debt (including current maturities of long-term debt)	4,617,464	4,262,629
Accounts payable and other accrued liabilities	740,410	806,743
Affiliated debt	445,802	132,851
Long-term debt	6,332,763	7,474,318
Total liabilities	12,136,439	12,676,541
Commitments and contingent liabilities (Note 13)
Stockholder's equity:
Member's capital
Paid-in capital	843,559	844,100
Accumulated other comprehensive loss	(100,163)	(144,136)
Retained earnings	632,243	666,754
Total stockholder's equity	1,375,639	1,366,718
TOTAL	$ 13,512,078	$ 14,043,259

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Allowance for credit losses	$ 79,196	$ 84,895
Restricted cash	648,612	712,845
Receivables, less allowance for credit losses of $59,268 and $66,084, respectively	10,461,733	10,882,070
TOTAL	13,512,078	14,043,259
Short-term debt (including current maturities of long-term debt)	4,617,464	4,262,629
Long-term debt	6,332,763	7,474,318
Total liabilities	12,136,439	12,676,541
Consolidated variable interest entities ("VIEs")
Allowance for credit losses	59,268	66,084
Restricted cash	648,612	712,745
Receivables, less allowance for credit losses of $59,268 and $66,084, respectively	7,159,290	7,682,488
TOTAL	7,807,902	8,395,233
Short-term debt (including current maturities of long-term debt)	3,556,007	3,717,340
Long-term debt	3,692,963	4,149,524
Total liabilities	$ 7,248,970	$ 7,866,864

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 250,489	$ 187,512	$ 217,599
Adjustments to reconcile net income to net cash from (used in) operating activities:
Depreciation on property and equipment and equipment on operating leases	280,789	247,472	193,837
Amortization of intangibles	2,112	1,998	1,581
Provision for credit losses	40,898	30,846	21,895
Deferred income tax expense (benefit)	(80,910)	37,767	78,118
Stock compensation expense		372	478
Changes in components of working capital:
Change in affiliated accounts and notes receivables	51,161	88,470	(114,966)
Change in other assets and equipment held for sale	9,074	46,403	59,649
Change in accounts payable and other accrued liabilities	7,958	2,472	63,907
Net cash from (used in) operating activities	561,571	643,312	522,098
CASH FLOWS FROM INVESTING ACTIVITIES
Cost of receivables acquired	(10,873,340)	(10,765,513)	(14,010,588)
Collections of receivables	11,405,857	11,547,142	14,788,413
Change in restricted cash	71,876	86,176	41,489
Purchase of equipment on operating leases	(635,819)	(723,383)	(937,917)
Proceeds from disposal of equipment on operating leases	435,878	361,952	317,127
Change in property and equipment and software, net	(1,614)	(890)	(1,702)
Net cash from (used in) investing activities	402,838	505,484	196,822
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of affiliated debt	1,186,763	1,238,950	1,473,676
Payment of affiliated debt	(898,230)	(1,128,741)	(2,308,981)
Proceeds from issuance of long-term debt	3,740,616	3,911,733	4,607,579
Payment of long-term debt	(4,955,232)	(4,682,446)	(4,739,516)
Change in short-term borrowings, net	309,373	(336,193)	433,450
Dividend paid to CNH Industrial America LLC	(285,000)	(290,000)	(170,000)
Preferred dividend paid to CNH Industrial Canada Ltd.			(551)
Redemption of preferred stock of subsidiary			(60,416)
Net cash from (used in) financing activities	(901,710)	(1,286,697)	(764,759)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	62,699	(137,901)	(45,839)
CASH AND CASH EQUIVALENTS
Beginning of year	164,247	302,148	347,987
End of year	226,946	164,247	302,148
CASH PAID DURING THE PERIOD FOR INTEREST	332,469	301,563	281,529
CASH PAID DURING THE PERIOD FOR TAXES	$ 47,726	$ 31,003	$ (8,927)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY - USD ($) $ in Thousands	Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interest	Total
BALANCE at Dec. 31, 2014	$ 843,250	$ (49,928)	$ 746,758	$ 35,852	$ 1,575,932
Increase (Decrease) in Stockholder's Equity
Net income			217,340	259	217,599
Dividend paid to CNH Industrial America LLC			(170,000)		(170,000)
Preferred dividend paid to CNH Industrial Canada Ltd.				(551)	(551)
Redemption of preferred stock of subsidiary			(24,856)	$ (35,560)	(60,416)
Foreign currency translation adjustment		(112,281)			(112,281)
Stock compensation	478				478
Pension liability adjustment, net of tax		226			226
Change in derivative financial instruments, net of tax		445			445
BALANCE at Dec. 31, 2015	843,728	(161,538)	769,242		1,451,432
Increase (Decrease) in Stockholder's Equity
Net income			187,512		187,512
Dividend paid to CNH Industrial America LLC			(290,000)		(290,000)
Foreign currency translation adjustment		15,756			15,756
Stock compensation	372				372
Pension liability adjustment, net of tax		197			197
Change in derivative financial instruments, net of tax		1,449			1,449
BALANCE at Dec. 31, 2016	844,100	(144,136)	666,754		1,366,718
Increase (Decrease) in Stockholder's Equity
Net income			250,489		250,489
Dividend paid to CNH Industrial America LLC			(285,000)		(285,000)
Foreign currency translation adjustment		40,868			40,868
Stock compensation	(541)				(541)
Pension liability adjustment, net of tax		499			499
Change in derivative financial instruments, net of tax		2,606			2,606
BALANCE at Dec. 31, 2017	$ 843,559	$ (100,163)	$ 632,243		$ 1,375,639

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
NATURE OF OPERATIONS	Dec. 31, 2017
BASIS OF PRESENTATION
NATURE OF OPERATIONS	NOTE 1: NATURE OF OPERATIONS CNH Industrial Capital LLC and its primary operating subsidiaries, including New Holland Credit Company, LLC (“New Holland Credit”), CNH Industrial Capital America LLC (“CNH Industrial Capital America”) and CNH Industrial Capital Canada Ltd. (“CNH Industrial Capital Canada”) (collectively, “CNH Industrial Capital” or the “Company”), are each a subsidiary of CNH Industrial America LLC (“CNH Industrial America”), which is an indirect wholly-owned subsidiary of CNH Industrial N.V. (“CNHI” and, together with its consolidated subsidiaries, “CNH Industrial”). CNH Industrial America and CNH Industrial Canada Ltd. (collectively, “CNH Industrial North America”) design, manufacture, and sell agricultural and construction equipment. CNH Industrial Capital provides financial services for CNH Industrial North America dealers and end-use customers primarily located in the United States and Canada. CNHI is incorporated in and under the laws of The Netherlands. CNHI has its corporate seat in Amsterdam, The Netherlands, and its principal office in London, England. The common shares of CNHI are listed on the New York Stock Exchange under the symbol “CNHI,” as well as on the Mercato Telematico Azionario managed by Borsa Italiana S.p.A. To support CNH Industrial North America’s sales of agricultural and construction equipment products, the Company offers retail financing to end-use customers and wholesale financing to CNH Industrial North America equipment dealers, all of which are independently owned. The Company provides and administers retail financing, primarily retail installment sales contracts, finance leases and operating leases to end-use customers for the purchase or lease of new and used CNH Industrial North America equipment and other agricultural and construction equipment sold primarily through CNH Industrial North America dealers and distributors. In addition, the Company purchases equipment from dealers that is leased to retail customers under operating lease agreements. Wholesale financing consists primarily of dealer floorplan financing, which allows dealers the ability to maintain a representative inventory of products. In addition, the Company provides financing to dealers for equipment used in dealer-owned rental yards, parts inventory, working capital, and other financing needs. Beginning in 2017, CNH Industrial Capital Canada purchased short-term wholesale receivables at a discount (“wholesale factoring”) from Iveco Argentina S.A. (“Iveco Argentina”), an indirect wholly-owned subsidiary of CNHI. The purchase is consistent with factoring arrangements between CNHI’s industrial and financial services companies. The Company also finances other products, including insurance and equipment protection products underwritten through a third-party insurer. As a captive finance company, the Company is reliant on the operations of CNH Industrial North America, its dealers and end-use customers.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The Company has prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the Company and its consolidated subsidiaries. The consolidated financial statements are expressed in U.S. dollars. The consolidated financial statements include the accounts of the Company’s subsidiaries in which the Company has a controlling financial interest and reflect the noncontrolling interests of the minority owners of the subsidiaries that are not fully owned for the periods presented, as applicable. A controlling financial interest may exist based on ownership of a majority of the voting interest of a subsidiary, or based on the Company’s determination that it is the primary beneficiary of a variable interest entity (“VIE”). The primary beneficiary of a VIE is the party that has the power to direct the activities that most significantly impact the economic performance of the entity and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entity. The Company assesses whether it is the primary beneficiary on an ongoing basis, as prescribed by the accounting guidance on the consolidation of VIEs. The consolidated status of the VIEs with which the Company is involved may change as a result of such reassessments. Use of Estimates in the Preparation of Financial Statements The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities and reported amounts of revenues and expenses. Significant estimates in these consolidated financial statements include the allowance for credit losses and residual values of equipment on operating leases. Actual results could differ from those estimates. Revenue Recognition Finance and interest income on retail notes and finance leases and on wholesale notes is recorded using the effective yield method. Deferred costs on the origination of financing receivables are recognized as a reduction in finance revenue over the expected lives of the receivables using the effective yield method. Recognition of income on receivables is suspended when management determines that collection of future income is not probable or when an account becomes 120 days delinquent, whichever occurs earlier. Income accrual is resumed if the receivable becomes contractually current and collection doubts are removed. Previously suspended income is recognized at that time. The Company applies cash received on nonaccrual financing receivables to first reduce any unrecognized interest and then the recorded investment and any other fees. Receivables are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Delinquency is reported on receivables greater than 30 days past due. Charge‑offs of principal amounts of receivables outstanding are deducted from the allowance at the point when it is estimated that amounts due are deemed uncollectible. A substantial portion of the Company’s interest income arises from retail sales programs offered by CNH Industrial North America on which finance charges are waived or below-market rate financing programs are offered. When the Company acquires retail installment sales contracts and finance leases subject to below-market interest rates, including waived interest rate financing, the Company receives compensation from CNH Industrial North America based on the Company’s estimated costs and a targeted return on equity. This amount is initially recognized as an unearned finance charge and is recognized as interest income over the term of the retail notes and finance leases, and is included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. For selected wholesale receivables, CNH Industrial North America compensates the Company based on the Company’s estimated costs and a targeted return on equity. These amounts are included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. The Company is also compensated for lending funds to CNH Industrial North America. The amounts earned are included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. Income from operating leases is recognized over the term of the lease on a straight-line basis. For selected operating leases, CNH Industrial North America compensates the Company based on the Company’s estimated costs and a targeted return on equity. The amounts from CNH Industrial North America recognized as rental income on operating leases are included in “Interest and other income from affiliates.” Foreign Currency Translation The Company’s non‑U.S. subsidiaries maintain their books and accounting records using local currency as the functional currency. Assets and liabilities of these non‑U.S. subsidiaries are translated into U.S. dollars at period‑end exchange rates, and net exchange gains or losses resulting from such translation are included in “Accumulated other comprehensive income” in the accompanying consolidated balance sheets. Income and expense accounts of these non‑U.S. subsidiaries are translated at the average exchange rates for the period, and gains and losses from foreign currency transactions are included in net income in the period that they arise. Cash and Cash Equivalents Cash equivalents are highly liquid investments with an original maturity of three months or less. The carrying value of cash equivalents approximates fair value because of the short maturity of these investments. Restricted Cash Restricted cash includes principal and interest payments from retail notes and wholesale receivables owned by the consolidated VIEs that are payable to the VIEs’ investors, and cash pledged as a credit enhancement to the same investors. These amounts are held by depository banks in order to comply with contractual agreements. Receivables Receivables are recorded at amortized cost, net of allowances for credit losses and deferred fees and costs. Periodically, the Company sells or transfers retail notes and wholesale receivables to funding facilities or in securitization transactions. In accordance with the accounting guidance regarding transfers of financial assets and the consolidation of VIEs, the majority of the retail notes and wholesale receivables sold in securitizations do not qualify as sales and are recorded as secured borrowings with no gains or losses recognized at the time of securitization. Receivables associated with these securitization transactions and receivables that the Company has the ability and intent to hold for the foreseeable future are classified as held for investment. The substantial majority of the Company’s receivables, which include unrestricted receivables and restricted receivables for securitization investors, are classified as held for investment. Allowance for Credit Losses The allowance for credit losses is the Company’s estimate of losses on receivables owned by the Company and consists of two components, depending on whether the receivable has been individually identified as being impaired. The first component of the allowance for credit losses covers the receivables specifically reviewed by management for which the Company has determined it is probable that it will not collect all the principal and interest payments as per the terms of the contract. Receivables are individually reviewed for impairment based on, among other items, amounts outstanding, days past due and prior collection history. These receivables are subject to impairment measurement at the loan level based either on the fair value of the collateral for collateral dependent receivables or on the present value of expected future cash flows discounted at the receivables’ effective interest rate. The second component of the allowance for credit losses covers all receivables that have not been individually reviewed for impairment. The allowance for these receivables is based on aggregated portfolio evaluations, generally by financial product. The allowance for retail and wholesale credit losses is based on loss forecast models that consider a variety of factors that include, but are not limited to, historical loss experience, collateral value, portfolio balance and delinquency. The loss forecast models are updated on a quarterly basis. In addition, qualitative factors that are not fully captured in the loss forecast models, including industry trends, and macroeconomic factors, are considered in the evaluation of the adequacy of the allowance for credit losses. These qualitative factors are subjective and require a degree of management judgment. Equipment on Operating Leases The Company purchases leases and equipment from CNH Industrial North America dealers and other independent third parties that have leased equipment to retail customers under operating leases. The Company’s investment in operating leases is based on the purchase price paid for the equipment. Income from these operating leases is recognized over the term of the lease. The equipment is depreciated on a straight-line basis over the term of the lease to the estimated residual value at lease termination. Residual values are estimated at the inception of the lease and are reviewed quarterly. Realization of the residual values is dependent on the Company’s future ability to re-market the equipment under then prevailing market conditions. Equipment model changes and updates, as well as market strength and product acceptance, are monitored and adjustments are made to residual values in accordance with the significance of any such changes. Management believes that the estimated residual values are realizable. Expenditures for maintenance and repairs are the responsibility of the lessee. The Company evaluates the carrying amount of equipment on operating leases for potential impairment when it determines a triggering event has occurred. When a triggering event occurs, a test for recoverability is performed comparing projected undiscounted future cash flows to the carrying amount of the asset. If the test for recoverability identifies a possible impairment, the asset’s fair value is measured in accordance with the fair value measurement framework. An impairment charge would be recognized for the amount by which the carrying amount of the asset exceeds its estimated fair value. Equipment returned to the Company upon termination of leases and held for subsequent sale or lease is recorded at the lower of net book value or estimated fair value of the equipment, less cost to sell, and is not depreciated. Goodwill and Intangible Assets Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired. Goodwill is deemed to have an indefinite useful life and is reviewed for impairment at least annually. During 2017 and 2016, the Company performed its annual impairment review as of December 31, and concluded that there was no impairment in either year. Other intangible assets consist of software and are being amortized on a straight‑line basis over five years. Income Taxes The provision for income taxes is determined using the asset and liability method. The Company recognizes a current tax liability or asset for the estimated taxes payable or refundable on tax returns for the current year and tax contingencies estimated to be settled with taxing authorities within one year. A deferred tax liability or asset is recognized for the estimated future tax effects attributable to temporary differences and tax loss carryforwards. The measurement of current and deferred tax liabilities and assets is based on provisions of enacted tax law. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized based on available evidence. Derivatives The Company’s policy is to enter into derivative transactions to manage exposures that arise in the normal course of business and not for trading or speculative purposes. The Company records derivative financial instruments in the consolidated balance sheets as either an asset or liability measured at fair value. The fair value of the Company’s interest rate derivatives is based on discounting expected cash flows, using market interest rates, over the remaining term of the instrument. The fair value of the Company’s foreign exchange derivatives is based on market exchange rates, adjusted for the respective interest rate differentials (premiums or discounts). Changes in the fair value of derivative financial instruments are recognized in current income unless specific hedge accounting criteria are met. For derivative financial instruments designated to hedge exposure to changes in the fair value of a recognized asset or liability, the gain or loss is recognized in income in the period of change together with the offsetting loss or gain on the related hedged item. For derivative financial instruments designated to hedge exposure to variable cash flows of a forecasted transaction, the effective portion of the derivative financial instrument’s gain or loss is initially reported in accumulated other comprehensive income and is subsequently reclassified into income when the forecasted transaction affects income. The ineffective portion of the gain or loss is recorded in income immediately. For derivative financial instruments that are not designated as hedges but held as economic hedges, the gain or loss is recognized immediately in income. For derivative financial instruments designated as hedges, the Company formally documents the hedging relationship to the hedged item and its risk management strategy for all derivatives designated as hedges. This includes linking all derivatives that are designated as fair value hedges to specific assets and liabilities contained in the consolidated balance sheets and linking cash flow hedges to specific forecasted transactions or variability of cash flow. The Company assesses the effectiveness of its hedging instruments both at inception and on an ongoing basis. If a derivative is determined not to be highly effective as a hedge, or the underlying hedged transaction is no longer probable of occurring, or the derivative is terminated, the hedge accounting described above is discontinued and the derivative is marked to fair value and recorded in income through the remainder of its term. New Accounting Pronouncements Adopted in 2017 In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (“ASU 2016-05”) and ASU No. 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments (“ASU 2016-06”). ASU 2016-05 clarifies that a change in the counterparty in a hedge accounting relationship does not, in and of itself, require dedesignation of that hedge accounting relationship. ASU 2016-06 clarifies the steps required to determine bifurcation of an embedded derivative. Both ASU 2016-05 and ASU 2016-06 have been adopted and neither had a material effect on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test of Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 simplifies the subsequent measurement of goodwill by removing the second step of the two-step impairment test. The amendment requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The Company elected to early adopt ASU 2017-04 on a prospective basis as of January 1, 2017, which did not have a material impact on its consolidated financial statements. New Accounting Pronouncements Not Yet Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606) (“ASU 2014-09”), which supersedes existing revenue recognition guidance under current U.S. GAAP. The new standard requires an entity to recognize revenue upon transfer of control of goods or services to a customer at an amount that reflects the consideration that the entity expects to receive. This new revenue recognition model defines a five-step process to achieve this objective. The new standard also requires additional disclosures to enable users to understand the nature, amount, timing and uncertainty of revenue and cash flow arising from contracts with customers. In August 2015, the FASB amended the effective date to be the first quarter of fiscal year 2018 with early adoption permitted in 2017. The FASB subsequently issued several amendments in 2016 clarifying various aspects of ASU 2014-09, including revenue transactions that involve a third party, goods or services that are immaterial in the context of the contract, licensing arrangements, certain transition practical expedients, disclosure of performance obligation and provisions for losses on construction-type and production-type contracts. Entities have the option to apply the new guidance under a retrospective approach to each prior reporting period presented, or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the consolidated statement of changes in equity. The new standard is effective January 1, 2018. The adoption does not impact the timing or measurement of the Company’s revenue recognition as it is consistent with its current accounting treatment for contracts within the scope of the new ASU. The adoption of this standard will not have a material impact on the Company’s consolidated financial position or results of operations and will not have a material impact on the disclosures in the Notes to the Consolidated Financial Statements. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”), which amends ASC 825-10, Financial Instruments - Overall . This ASU changes the treatment for available-for-sale equity investments by recognizing unrealized fair value changes directly in net income, and no longer in other comprehensive income. The ASU is effective January 1, 2018, with the cumulative-effect adjustment from initially applying the new standard recognized in the consolidated statement of financial position as of January 1, 2018. The impact of the adjustments on the Company’s consolidated financial statements is expected to be immaterial. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which supersedes ASC 840, Leases . The ASU’s most prominent change is the requirement for lessees to recognize leased assets and liabilities classified as operating leases under previous GAAP. The ASU does not significantly change the lessee’s recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Lessors’ accounting under the ASC is largely unchanged from the previous accounting standard. ASU 2016-02 also will require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. It is effective for annual reporting periods beginning after December 15, 2018 including interim periods within those fiscal years, but early adoption is permitted. The ASU requires a modified retrospective transition approach and provides certain optional transition relief. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which establishes ASC 326, Financial Instruments – Credit Losses . The ASU introduced a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. Additional disclosures about significant estimates and credit quality are also required. The ASU is effective for annual periods beginning after December 15, 2019 with early adoption permitted for annual periods beginning after December 15, 2018. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). This standard provides guidance clarification to reduce diversity in classification of certain cash flow payments and receipts in the statement of cash flows. ASU 2016-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017 on a retrospective transition basis to each period presented, and may be early adopted. The Company does not believe the adoption of this standard will have a material impact on its consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”) that changes the presentation of restricted cash and cash equivalents on the statement of cash flows. Restricted cash and restricted cash equivalents will be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statement of cash flows. ASU 2016-18 is effective for annual reporting periods beginning after December 15, 2017, and early adoption is permitted. The Company does not believe the adoption of this standard will have a material impact on its consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”), which amends ASC 815, Derivatives and Hedging . The purpose of this ASU is to better align a company’s risk management activities and financial reporting for hedging relationships, simplify the hedge accounting requirements and improve the disclosures of hedging arrangements. ASU 2017-12 is effective for fiscal years beginning after December 15, 2018, including interim periods within these years. Early adoption is permitted in any interim period or fiscal year before the effective date. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	12 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME	Dec. 31, 2017
ACCUMULATED OTHER COMPREHENSIVE INCOME
ACCUMULATED OTHER COMPREHENSIVE INCOME	NOTE 3: ACCUMULATED OTHER COMPREHENSIVE INCOME Accumulated other comprehensive income (“AOCI”) includes net income plus other comprehensive income, which includes foreign currency translation gains and losses, certain changes in pension plans and changes in fair value of certain derivatives designated as cash flow hedges. The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the year ended December 31, 2017: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability on Derivatives Total Beginning balance, gross $ (139,585) $ (5,768) $ (1,213) $ (146,566) Tax asset — 2,107 323 2,430 Beginning balance, net of tax (139,585) (3,661) (890) (144,136) Other comprehensive income (loss) before reclassifications 40,868 114 2,797 43,779 Amounts reclassified from accumulated other comprehensive income (loss) — 702 749 1,451 Tax effects — (317) (940) (1,257) Net current-period other comprehensive income (loss) 40,868 499 2,606 43,973 BALANCE at December 31, 2017 $ (98,717) $ (3,162) $ 1,716 $ (100,163) The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the year ended December 31, 2016: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability on Derivatives Total Beginning balance, gross $ (155,341) $ (6,084) $ (3,184) $ (164,609) Tax asset — 2,226 845 3,071 Beginning balance, net of tax (155,341) (3,858) (2,339) (161,538) Other comprehensive income (loss) before reclassifications 15,756 (476) 1,277 16,557 Amounts reclassified from accumulated other comprehensive income (loss) — 792 694 1,486 Tax effects — (119) (522) (641) Net current-period other comprehensive income (loss) 15,756 197 1,449 17,402 BALANCE at December 31, 2016 $ (139,585) $ (3,661) $ (890) $ (144,136) The reclassifications out of AOCI and the location on the consolidated statements of income for the years ended December 31, 2017 and 2016 are as follows: 2017 2016 Affected Line Item Amortization of defined benefit pension items: $ (702) $ (792) Various line items individually insignificant (702) Income before taxes 273 298 Income tax benefit $ (429) $ (494) Net of tax Unrealized losses on derivatives: $ (749) $ (694) Interest expense to third parties (749) Income before taxes 199 184 Income tax benefit $ (550) $ (510) Net of tax

RECEIVABLES

RECEIVABLES	12 Months Ended
RECEIVABLES	Dec. 31, 2017
RECEIVABLES
RECEIVABLES	NOTE 4: RECEIVABLES A summary of receivables included in the consolidated balance sheets as of December 31, 2017 and 2016 is as follows: 2017 2016 Retail $ 768,502 $ 854,777 Wholesale 679,100 677,371 Wholesale factoring 235,834 — Finance lease 58,198 42,291 Restricted receivables 8,799,295 9,392,526 Gross receivables 10,540,929 10,966,965 Less: Allowance for credit losses (79,196) (84,895) Total receivables, net $ 10,461,733 $ 10,882,070 The Company provides and administers financing for retail purchases of new and used equipment sold through CNH Industrial North America’s dealer network. The terms of retail and other notes and finance leases generally range from two to six years, and interest rates vary depending on prevailing market interest rates and certain incentive programs offered by CNH Industrial North America. Wholesale receivables arise primarily from the financing of the sale of goods to dealers and distributors by CNH Industrial North America, and to a lesser extent, the financing of dealer operations. Under the standard terms of the wholesale receivable agreements, these receivables typically have interest-free periods of up to twelve months and stated original maturities of up to twenty‑four months, with repayment accelerated upon the sale of the underlying equipment by the dealer. During the interest‑free period, the Company is compensated by CNH Industrial North America based on market interest rates. After the expiration of any interest‑free period, interest is charged to dealers on outstanding balances until the Company receives payment in full. The interest‑free periods are determined based on the type of equipment sold and the time of year of the sale. Interest rates are set based on market factors and the prime rate or LIBOR. The Company evaluates and assesses dealers on an ongoing basis as to their creditworthiness. CNH Industrial North America may be obligated to repurchase the dealer’s equipment upon cancellation or termination of the dealer’s contract for such causes as change in ownership, closeout of the business, or default. There were no significant losses in 2017, 2016 and 2015 relating to the termination of dealer contracts. Wholesale factoring receivables represent short-term receivables purchased from Iveco Argentina. Maturities of receivables as of December 31, 2017, are as follows: 2018 $ 5,882,953 2019 1,688,294 2020 1,311,004 2021 924,164 2022 and thereafter 734,514 Total receivables $ 10,540,929 It has been the Company’s experience that substantial portions of retail receivables are repaid or sold before their contractual maturity dates. As a result, the above table should not be regarded as a forecast of future cash collections. Retail, finance lease and wholesale receivables have significant concentrations of credit risk in the agricultural and construction business sectors. Short-term receivables purchased from Iveco Argentina have significant concentrations of credit risk in the agricultural and commercial vehicles business sectors in Argentina. On a geographic basis, there is not a disproportionate concentration of credit risk in any area of the United States, Canada or Argentina. The Company typically retains, as collateral, a security interest in the equipment associated with retail notes and wholesale receivables. Restricted Receivables and Securitization As part of its overall funding strategy, the Company periodically transfers certain receivables into VIEs that are special purpose entities (“SPEs”) as part of its asset‑backed securitization (“ABS”) programs. SPEs utilized in the securitization programs differ from other entities included in the Company’s consolidated financial statements because the assets they hold are legally isolated from the Company’s assets. For bankruptcy analysis purposes, the Company has sold the receivables to the SPEs in a true sale and the SPEs are separate legal entities. Upon transfer of the receivables to the SPEs, the receivables and certain cash flows derived from them become restricted for use in meeting obligations to the SPEs’ creditors. The SPEs have ownership of cash balances that also have restrictions for the benefit of the SPEs’ investors. The Company’s interests in the SPEs’ receivables are subordinate to the interests of third‑party investors. None of the receivables that are directly or indirectly sold or transferred in any of these transactions are available to pay the Company’s creditors until all obligations of the SPE have been fulfilled or the receivables are removed from the SPE. The secured borrowings related to the restricted receivables are obligations that are payable as the receivables are collected. The following table summarizes the restricted receivables as of December 31, 2017 and 2016: 2017 2016 Retail $ 6,042,186 $ 6,500,949 Wholesale 2,757,109 2,891,577 Total restricted receivables $ 8,799,295 $ 9,392,526 Retail Receivables Securitizations Within the U.S. retail receivables securitization programs, qualifying retail receivables are sold to limited purpose, bankruptcy‑remote SPEs. In turn, these SPEs establish separate trusts to which the receivables are transferred in exchange for proceeds from asset‑backed securities issued by the trusts. In Canada, the receivables are transferred directly to the trusts. These trusts were determined to be VIEs. In its role as servicer, the Company has the power to direct the trusts’ activities. Through its retained interests, the Company has an obligation to absorb certain losses, or the right to receive certain benefits, that could potentially be significant to the trusts. Consequently, the Company has consolidated these retail trusts. During the years ended December 31, 2017 and 2016, the Company executed $2,989,014 and $2,861,732, respectively, in term retail asset‑backed transactions in the U.S. and Canada. The securities in these transactions are backed by agricultural and construction equipment retail receivable contracts originated through CNH Industrial North America’s dealer network. As of December 31, 2017 and 2016, $5,567,786 and $5,653,908, respectively, of asset‑backed securities issued to investors were outstanding with weighted average remaining maturities of 31 months and 30 months, respectively. The Company believes that it is probable that it will continue to regularly utilize the term ABS markets. The Company may retain all or a portion of the subordinated interests in the SPEs. No recourse provisions exist that allow holders of the asset‑backed securities issued by the trusts to put those securities back to the Company although the Company provides customary representations and warranties that could give rise to an obligation to repurchase from the trusts any receivables for which there is a breach of the representations and warranties. Moreover, the Company does not guarantee any securities issued by the trusts. The trusts have a limited life and generally terminate upon final distribution of amounts owed to investors or upon exercise of a cleanup‑call option by the Company, in its role as servicer. The Company also has $1,598,730 in committed asset‑backed facilities through which it may sell on a monthly basis retail receivables generated in the United States and Canada. The Company has utilized these facilities in the past to fund the origination of receivables and has later repurchased and resold the receivables in the term ABS markets or found alternative financing for the receivables. The U.S. and Canadian facilities had an original funding term of two years and are renewable in September 2019 and December 2019, respectively. To the extent these facilities are not renewed, they will be repaid according to the amortization of the underlying receivables. Wholesale Receivables Securitizations With regard to the wholesale receivable securitization programs, the Company sells eligible receivables on a revolving basis to structured master trust facilities which are limited‑purpose, bankruptcy‑remote SPEs. As of December 31, 2017, debt issued through the U.S. master trust facility consists of two short-term facilities renewable at the discretion of the investors: $500,000 and $300,000. The Canadian master trust facility consists of a C$585,750 ($467,112) facility renewable December 2019 at the discretion of the investor. These trusts were determined to be VIEs. In its role as servicer, CNH Industrial Capital has the power to direct the trusts’ activities. Through its retained interests, the Company provides security to investors in the event that cash collections from the receivables are not sufficient to make principal and interest payments on the securities. Consequently, CNH Industrial Capital has consolidated these wholesale trusts. Each of the facilities contains minimum payment rate thresholds that, if breached, could preclude the Company from selling additional receivables originated on a prospective basis and could force an early amortization of the debt. Allowance for Credit Losses The Company’s allowance for credit losses is segregated into three portfolio segments: retail, wholesale and wholesale factoring. A portfolio segment is the level at which the Company develops a systematic methodology for determining its allowance for credit losses. The retail segment includes retail notes and finance lease receivables. The wholesale segment includes wholesale financing to CNH Industrial North America dealers and the wholesale factoring segment represents the short-term receivables purchased from Iveco Argentina. Further, the Company evaluates its retail and wholesale portfolio segments by class of receivable: United States and Canada. Typically, the Company’s receivables within a geographic area have similar risk profiles and methods for assessing and monitoring risk. These classes align with management reporting. Allowance for credit losses activity for the year ended December 31, 2017 is as follows: Retail Wholesale Wholesale Total Allowance for credit losses: Beginning balance $ 78,047 $ 6,848 $ — $ 84,895 Charge-offs (46,460) (2,374) — (48,834) Recoveries 4,045 20 — 4,065 Provision 39,842 919 137 40,898 Foreign currency translation and other (1,864) 31 5 (1,828) Ending balance $ 73,610 $ 5,444 $ 142 $ 79,196 Ending balance: individually evaluated for impairment $ 18,018 $ 2,920 $ — $ 20,938 Ending balance: collectively evaluated for impairment $ 55,592 $ 2,524 $ 142 $ 58,258 Receivables: Ending balance $ $ $ $ Ending balance: individually evaluated for impairment $ 38,807 $ 43,912 $ — $ 82,719 Ending balance: collectively evaluated for impairment $ $ $ $ Allowance for credit losses activity for the year ended December 31, 2016 is as follows: Retail Wholesale Total Allowance for credit losses: Beginning balance $ 88,405 $ 6,319 $ 94,724 Charge-offs (42,949) (1) (42,950) Recoveries 3,228 522 3,750 Provision (benefit) 30,915 (69) 30,846 Foreign currency translation and other (1,552) 77 (1,475) Ending balance $ 78,047 $ 6,848 $ 84,895 Ending balance: individually evaluated for impairment $ 18,113 $ 4,250 $ 22,363 Ending balance: collectively evaluated for impairment $ 59,934 $ 2,598 $ 62,532 Receivables: Ending balance $ 7,398,017 $ 3,568,948 $ 10,966,965 Ending balance: individually evaluated for impairment $ 31,383 $ 43,659 $ 75,042 Ending balance: collectively evaluated for impairment $ 7,366,634 $ 3,525,289 $ 10,891,923 Allowance for credit losses activity for the year ended December 31, 2015 is as follows: Retail Wholesale Total Allowance for credit losses: Beginning balance $ 88,697 $ 6,845 $ 95,542 Charge-offs (22,250) (356) (22,606) Recoveries 2,555 27 2,582 Provision 21,812 83 21,895 Foreign currency translation and other (2,409) (280) (2,689) Ending balance $ 88,405 $ 6,319 $ 94,724 Ending balance: individually evaluated for impairment $ 18,220 $ 3,185 $ 21,405 Ending balance: collectively evaluated for impairment $ 70,185 $ 3,134 $ 73,319 Receivables: Ending balance $ 8,081,866 $ 3,649,883 $ 11,731,749 Ending balance: individually evaluated for impairment $ 94,584 $ 82,015 $ 176,599 Ending balance: collectively evaluated for impairment $ 7,987,282 $ 3,567,868 $ 11,555,150 Utilizing an internal credit scoring model, which considers customers’ attributes, prior credit history and each retail transaction’s attributes, the Company assigns a credit quality rating to each retail customer, by specific transaction, as part of the retail underwriting process. This rating is used in setting the terms on the transaction, including the interest rate. A description of the general characteristics of the customers’ risk grades is as follows: Titanium - Customers from whom the Company expects no collection or loss activity. Platinum - Customers from whom the Company expects minimal, if any, collection or loss activity. Gold, Silver, Bronze - Customers defined as those with the potential for collection or loss activity. A breakdown of the retail portfolio by the customer’s risk grade at the time of origination as of December 31, 2017 and 2016 is as follows: 2017 2016 Titanium $ 3,734,313 $ 4,117,736 Platinum 2,002,791 2,045,684 Gold 952,404 1,042,918 Silver 146,051 157,170 Bronze 33,327 34,509 Total $ 6,868,886 $ 7,398,017 As part of the ongoing monitoring of the credit quality of the wholesale portfolio, the Company utilizes an internal credit scoring model that assigns a risk grade for each dealer. The scoring model considers the strength of the dealer’s financial condition and payment history. The Company considers the dealers’ ratings in the quarterly credit allowance analysis. A description of the general characteristics of the dealer risk grades is as follows: Grades A and B - Includes receivables due from dealers that have significant capital strength, moderate leverage, stable earnings and growth, and excellent payment performance. Grade C - Includes receivables due from dealers with moderate credit risk. Dealers of this grade are differentiated from higher grades on a basis of leverage or payment performance. Grade D - Includes receivables due from dealers with additional credit risk. These dealers require additional monitoring due to their weaker financial condition or payment performance. A breakdown of the wholesale portfolio by its credit quality indicators as of December 31, 2017 and 2016 is as follows: 2017 2016 A $ 1,237,283 $ 1,330,159 B 1,442,462 1,603,893 C 444,552 322,652 D 311,912 312,244 Total $ 3,436,209 $ 3,568,948 The following tables present information at the level at which management assesses and monitors its credit risk. Receivables are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Delinquency is reported on receivables greater than 30 days past due. The aging of receivables as of December 31, 2017 and 2016 is as follows: 2017 Recorded Investment Greater > 90 Days 31 – 60 Days 61 – 90 Days Than Total Total and Past Due Past Due 90 Days Past Due Current Receivables Accruing Retail United States $ 27,590 $ 8,412 $ 37,004 $ 73,006 $ 5,532,329 $ 5,605,335 $ 6,232 Canada $ 2,010 $ 585 $ 2,837 $ 5,432 $ 1,258,119 $ 1,263,551 $ 665 Wholesale United States $ 802 $ 1 $ 236 $ 1,039 $ 2,691,477 $ 2,692,516 $ 179 Canada $ 22 $ — $ 6 $ 28 $ 743,665 $ 743,693 $ 6 Wholesale Factoring $ 5,652 $ 1,390 $ — $ 7,042 $ 228,792 $ 235,834 $ — Total Retail $ 29,600 $ 8,997 $ 39,841 $ 78,438 $ 6,790,448 $ 6,868,886 $ 6,897 Wholesale $ 824 $ 1 $ 242 $ 1,067 $ 3,435,142 $ 3,436,209 $ 185 Wholesale Factoring $ 5,652 $ 1,390 $ — $ 7,042 $ 228,792 $ 235,834 $ — 2016 Recorded Investment Greater > 90 Days 31 – 60 Days 61 – 90 Days Than Total Total and Past Due Past Due 90 Days Past Due Current Receivables Accruing Retail United States $ 25,416 $ 6,743 $ 40,500 $ 72,659 $ 6,146,129 $ 6,218,788 $ 7,377 Canada $ 2,828 $ 765 $ 1,038 $ 4,631 $ 1,174,598 $ 1,179,229 $ 736 Wholesale United States $ 823 $ 88 $ 444 $ 1,355 $ 2,862,222 $ 2,863,577 $ — Canada $ — $ 1 $ 4 $ 5 $ 705,366 $ 705,371 $ — Total Retail $ 28,244 $ 7,508 $ 41,538 $ 77,290 $ 7,320,727 $ 7,398,017 $ 8,113 Wholesale $ 823 $ 89 $ 448 $ 1,360 $ 3,567,588 $ 3,568,948 $ — Impaired receivables are receivables for which the Company has determined it will not collect all the principal and interest payments as per the terms of the contract. As of December 31, 2017 and 2016, the Company’s recorded investment in impaired receivables individually evaluated for impairment and the related unpaid principal balances, allowances and average recorded investment (based on a thirteen-month average) are as follows: December 31, 2017 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment Retail United States $ 38,035 $ 36,187 $ 17,518 $ 39,917 Canada $ 772 $ 716 $ 500 $ 1,084 Wholesale United States $ 43,912 $ 43,531 $ 2,920 $ 49,469 Total Retail $ 38,807 $ 36,903 $ 18,018 $ 41,001 Wholesale $ 43,912 $ 43,531 $ 2,920 $ 49,469 December 31, 2016 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment Retail United States $ 31,360 $ 30,031 $ 18,102 $ 31,268 Canada $ 23 $ 23 $ 11 $ 28 Wholesale United States $ 43,659 $ 43,369 $ 4,250 $ 46,482 Total Retail $ 31,383 $ 30,054 $ 18,113 $ 31,296 Wholesale $ 43,659 $ 43,369 $ 4,250 $ 46,482 As of December 31, 2017 and 2016, the Company’s impaired receivables individually evaluated for impairment without an allowance were immaterial. Interest income recognized for the years ended December 31, 2017 and 2016 was immaterial. Recognition of income is generally suspended when management determines that collection of future finance income is not probable or when an account becomes 120 days delinquent, whichever occurs first. Interest accrual is resumed if the receivable becomes contractually current and collection becomes probable. Previously suspended income is recognized at that time. The receivables on nonaccrual status as of December 31, 2017 and 2016 are as follows: 2017 2016 Retail Wholesale Total Retail Wholesale Total United States $ 40,968 $ 43,531 $ 84,499 $ 49,998 $ 43,369 $ 93,367 Canada $ 2,538 $ — $ 2,538 $ 325 $ — $ 325 Troubled Debt Restructurings A restructuring of a receivable constitutes a troubled debt restructuring (“TDR”) when the lender grants a concession it would not otherwise consider to a borrower experiencing financial difficulties. As a collateral‑based lender, the Company typically will repossess collateral in lieu of restructuring receivables. As such, for retail receivables, concessions are typically provided based on bankruptcy court proceedings. For wholesale receivables, concessions granted may include extended contract maturities, inclusion of interest‑only periods, modification of a contractual interest rate to a below market interest rate and waiving of interest and principal. TDRs are reviewed along with other receivables as part of management’s ongoing evaluation of the adequacy of the allowance for credit losses. The allowance for credit losses attributable to TDRs is based on the most probable source of repayment, which is normally the liquidation of collateral. In determining collateral value, the Company estimates the current fair market value of the equipment collateral and considers credit enhancements such as additional collateral and third‑party guarantees. Before removing a receivable from TDR classification, a review of the borrower is conducted. If concerns exist about the future ability of the borrower to meet its obligations based on a credit review, the TDR classification is not removed from the receivable. As of December 31, 2017, the Company had 272 retail and finance lease contracts classified as TDRs where a court has determined the concession. The pre‑modification value of these contracts was $8,583 and the post‑modification value was $7,710. Additionally, the Company had 423 accounts with a balance of $23,750 undergoing bankruptcy proceedings where a concession has not yet been determined. As of December 31, 2016, the Company had 238 retail and finance lease contracts classified as TDRs where a court has determined the concession. The pre‑modification value of these contracts was $4,284 and the post‑modification value was $3,688. Additionally, the Company had 420 accounts with a balance of $23,862 undergoing bankruptcy proceedings where a concession has not yet been determined. As the outcome of the bankruptcy cases is determined by a court based on available assets, subsequent re‑defaults are unusual and were not material for retail and finance lease contracts that were modified in a TDR during the previous 12 months ended December 31, 2017 and 2016. As of December 31, 2017 and 2016, the Company’s wholesale TDRs were immaterial.

EQUIPMENT ON OPERATING LEASES

EQUIPMENT ON OPERATING LEASES	12 Months Ended
EQUIPMENT ON OPERATING LEASES	Dec. 31, 2017
EQUIPMENT ON OPERATING LEASES
EQUIPMENT ON OPERATING LEASES	NOTE 5: EQUIPMENT ON OPERATING LEASES A summary of equipment on operating leases as of December 31, 2017 and 2016 is as follows: 2017 2016 Equipment on operating leases $ 2,139,099 $ 2,169,874 Accumulated depreciation (357,610) (311,431) Total equipment on operating leases, net $ 1,781,489 $ 1,858,443 Depreciation expense totaled $280,765, $247,438 and $193,802 for the years ended December 31, 2017, 2016 and 2015, respectively. Lease payments owed to the Company for equipment under non‑cancelable operating leases (excluding deferred operating lease subsidy of $117,288) as of December 31, 2017 are as follows: 2018 $ 172,174 2019 107,326 2020 58,213 2021 28,502 2022 and thereafter 6,138 Total lease payments $ 372,353

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
GOODWILL AND INTANGIBLE ASSETS	Dec. 31, 2017
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	NOTE 6: GOODWILL AND INTANGIBLE ASSETS Changes in the carrying amount of goodwill for the years ended December 31, 2017 and 2016 are as follows: 2017 2016 Balance, beginning of year $ 108,715 $ 107,935 Foreign currency translation adjustment 1,873 780 Balance, end of year $ 110,588 $ 108,715 Goodwill is tested for impairment at least annually. During 2017, 2016 and 2015, the Company performed its annual impairment review as of December 31 and concluded that there were no impairments in either year. As of December 31, 2017 and 2016, the Company’s intangible asset and related accumulated amortization for its software is as follows: 2017 2016 Software $ 25,197 $ 23,583 Accumulated amortization (18,329) (16,217) Total software, net $ 6,868 $ 7,366 The Company recorded amortization expense of $2,112, $1,998 and $1,581 during 2017, 2016 and 2015, respectively. Based on the current amount of software subject to amortization, the estimated annual amortization expense for each of the succeeding five years is as follows: $2,028 in 2018; $1,581 in 2019; $940 in 2020; $375 in 2021; and $100 in 2022.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
OTHER ASSETS	Dec. 31, 2017
OTHER ASSETS
OTHER ASSETS	NOTE 7: OTHER ASSETS The components of other assets as of December 31, 2017 and 2016 are as follows: 2017 2016 Tax receivables $ 6,566 $ 452 Deferred tax assets 10,275 13,092 Derivative assets 10,144 5,666 Other current assets 7,396 6,537 Total other assets $ 34,381 $ 25,747

CREDIT FACILITIES AND DEBT

CREDIT FACILITIES AND DEBT	12 Months Ended
CREDIT FACILITIES AND DEBT	Dec. 31, 2017
CREDIT FACILITIES AND DEBT
CREDIT FACILITIES AND DEBT	NOTE 8: CREDIT FACILITIES AND DEBT The following table summarizes the Company’s debt and credit facilities, borrowings thereunder and availability at December 31, 2017: 2017 Current Maturities of Short-Term Long-Term Long-Term Maturity (1) Total Outstanding Outstanding Outstanding Available Committed Asset-Backed Facilities Retail - U.S. Sep 2019 $ 1,200,000 $ — $ 60,099 $ 160,301 $ 979,600 Retail - Canada Dec 2019 398,730 — 57,814 158,401 182,515 Wholesale VFN - U.S. Various 800,000 800,000 — — — Wholesale VFN - Canada Dec 2019 467,112 461,167 — — 5,945 2,865,842 117,913 318,702 Secured Debt Amortizing retail term ABS - N.A. Various 5,567,786 — — Other ABS financing - N.A. Various 54,275 — 45,937 8,338 — Unamortized issuance costs (17,507) — — (17,507) — 5,604,554 — — Unsecured Facilities Credit lines Various 300,000 300,000 — — — Revolving credit facilities Various 659,492 — — 159,492 500,000 959,492 300,000 — 159,492 500,000 Unsecured Debt Commercial paper Various 115,000 115,000 — — — Notes Various 3,100,000 — 600,000 — Hedging effects, discounts and unamortized issuance costs (26,601) (89) 607 (27,119) — 3,188,399 114,911 600,607 — Total credit facilities and debt $ $ $ $ $ (1) Maturity dates reflect maturities of the credit facility, which may be different than the maturities of the advances under the facility. A summary of the minimum annual repayments of long‑term debt as of December 31, 2017, for 2019 and thereafter is as follows: 2019 $ 2,079,221 2020 1,923,925 2021 1,742,741 2022 562,796 2023 and thereafter 24,080 Total $ 6,332,763 The following table summarizes the Company’s credit facilities, borrowings thereunder and availability at December 31, 2016: 2016 Current Maturities of Short-Term Long-Term Long-Term Maturity (1) Total Outstanding Outstanding Outstanding Available Committed Asset-Backed Facilities Retail - U.S. Sep 2018 $ 1,200,000 $ — $ 142,462 $ 425,237 $ 632,301 Retail - Canada Dec 2018 371,476 — 74,645 251,427 45,404 Wholesale VFN - U.S. Various 900,000 900,000 — — — Wholesale VFN - Canada Dec 2018 435,184 435,184 — — — 2,906,660 1,335,184 217,107 676,664 677,705 Secured Debt Amortizing retail term ABS - N.A. Various 5,653,908 — 2,165,049 3,488,859 — Other ABS financing - N.A. Various 103,275 — 45,289 57,986 — Unamortized issuance costs (15,999) — — (15,999) — 5,741,184 — 2,210,338 3,530,846 — Unsecured Facilities Revolving credit facilities 2019 400,000 — — — 400,000 Unsecured Debt Notes Various 3,700,000 — 500,000 3,200,000 — Term loan 2018 100,000 — — 100,000 — Hedging effects, discounts and unamortized issuance costs (33,192) — — (33,192) — 3,766,808 — 500,000 3,266,808 — Total credit facilities and debt $ 12,814,652 $ 1,335,184 $ 2,927,445 $ 7,474,318 $ 1,077,705 (1) Maturity dates reflect maturities of the credit facility, which may be different than the maturities of the advances under the facility. Committed Asset‑Backed Facilities The Company has access to committed asset‑backed facilities with several banks through which it may sell its receivables. The Company utilizes retail facilities to fund the origination of retail receivables and has exercised the option to periodically repurchase receivables and resell them in the term ABS markets (shown as “Amortizing retail term ABS - N.A.”) or found alternative financing for the receivables. Under these facilities, the maximum amount of proceeds that can be accessed at one time is $1,598,730. In addition, if the receivables sold are not repurchased by the Company, the related debt is paid only as the underlying receivables are collected. Such receivables have maturities not exceeding seven years. The Company believes it is probable that a majority of these receivables will be repurchased and resold in the ABS markets. Borrowings against these facilities accrue interest based on prevailing money market rates, plus an applicable margin. The Company finances a portion of its wholesale receivable portfolio with the issue of Variable Funding Notes (“VFNs”) which are privately subscribed by certain banks and asset‑backed commercial paper conduits. These notes accrue interest based on prevailing money market rates, plus an applicable margin. Secured Debt Secured borrowings bear interest at either floating rates of LIBOR plus an applicable margin or fixed rates. Unsecured Facilities and Debt As of December 31, 2017, the Company had bank arrangements that included a fully-drawn committed C$200,000 ($159,492) unsecured revolving credit facility with a final maturity in June 2020 and fully-drawn uncommitted credit lines totaling $300,000 with final maturities in January 2018 and June 2018. These bank arrangements also included committed but undrawn, unsecured revolving credit facilities totaling $500,000 with final maturities in June 2019, March 2020 and June 2020, respectively. Included in the available unsecured revolving credit facilities is $115,000 maintained primarily to provide backup liquidity for commercial paper borrowings. On December 4, 2017, the Company established a new commercial paper program to issue short-term, unsecured, unsubordinated commercial paper notes on a private placement basis. As of December 31, 2017, the aggregate principal amount of notes outstanding was $115,000. As of December 31, 2017, the Company’s outstanding unsecured senior notes were as follows: 3.625% notes, due 2018 $ 600,000 3.375% notes, due 2019 500,000 4.375% notes, due 2020 600,000 4.875% notes, due 2021 500,000 3.875% notes, due 2021 400,000 4.375% notes, due 2022 500,000 Hedging effects, discounts and unamortized issuance costs (26,512) Total $ 3,073,488 On February 1, 2017, the Company repaid $500,000 of its 3.250% unsecured notes due 2017. On April 10, 2017, the Company completed an offering of $500,000 in aggregate principal amount of its 4.375% unsecured notes due 2022, priced at par. On December 1, 2017, the Company redeemed early $600,000 of its 3.875% unsecured notes due July 2018. The redemption included a “make-whole” premium of $6,493. These notes, which are senior unsecured obligations of CNH Industrial Capital LLC, are guaranteed by CNH Industrial Capital America and New Holland Credit. Covenants The indentures and credit agreements governing the Company’s unsecured funding transactions contain covenants that restrict the Company’s ability and/or that of its subsidiaries to, among other things, incur additional debt, make certain investments, enter into certain types of transactions with affiliates, use assets as security in other transactions, enter into sale or leaseback transactions and/or sell certain assets or merge with or into other companies. In addition, the Company is required to maintain a certain coverage level for leverage. Interest Rates The weighted‑average interest rate on total short‑term debt outstanding at December 31, 2017 and 2016 was 2.2% and 1.5%, respectively. The weighted‑average interest rate on total long‑term debt (including current maturities of long‑term debt) at December 31, 2017 and 2016 was 2.6% and 2.4%, respectively. The average rate is calculated using the actual rates at December 31, 2017 and 2016, weighted by the amount of outstanding borrowings of each debt instrument. Support Agreement Effective as of September 29, 2013, in connection with the merger of CNH Global N.V., the former indirect parent of CNH Industrial Capital (“CNH Global”), with and into CNHI, CNHI assumed all of CNH Global’s obligations under the support agreement, pursuant to which CNHI has agreed to, among other things, (a) make cash capital contributions to the Company, to the extent necessary to cause the ratio of net earnings available for fixed charges to fixed charges to be not less than 1.05 for each fiscal quarter (with such ratio determined, on a consolidated basis and in accordance with U.S. GAAP, for such fiscal quarter and the immediately preceding three fiscal quarters taken as a whole), (b) generally maintain an ownership of at least 51% of the voting equity interests in the Company and (c) cause the Company to have, as of the end of any fiscal quarter, a consolidated tangible net worth of at least $50,000. The support agreement is not intended to be and is not a guarantee by CNHI of any indebtedness or other obligation of the Company. The obligations of CNHI to the Company pursuant to this support agreement are to the Company only and do not run to, and are not enforceable directly by, any creditor of the Company. The support agreement may be modified, amended or terminated, at CNHI’s election, upon thirty days’ prior written notice to the Company and the rating agencies, if (a) the modification, amendment or termination would not result in a downgrade of the Company’s rated indebtedness; (b) the modification, amendment or notice of termination provides that the support agreement will continue in effect with respect to the Company’s rated indebtedness then outstanding; or (c) the Company has no long‑term rated indebtedness outstanding.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2017
INCOME TAXES
INCOME TAXES	NOTE 9: INCOME TAXES The income and expenses of the Company and certain of its domestic subsidiaries are included in the consolidated income tax return of CNH Industrial U.S. Holdings, Inc., a wholly-owned subsidiary of CNHI. CNH Industrial U.S. Holdings, Inc. is the new parent of Case New Holland Inc., who remains the parent of CNH Industrial America. The Company’s Canadian subsidiaries file separate income tax returns, as do certain domestic subsidiaries. The Company and certain of its domestic subsidiaries are LLCs and, as a result, incur no income tax liability on a stand‑alone basis for tax purposes. However, for financial reporting, all tax accounts have been disclosed and the income tax expense is reflective for all of the companies included in the consolidated financial statements. The sources of income before taxes for the years ended December 31, 2017, 2016, and 2015 are as follows, with foreign defined as any income earned outside the United States: 2017 2016 2015 Domestic $ $ $ Foreign 81,712 88,051 78,684 Income before taxes $ $ $ The provision for income taxes for the years ended December 31, 2017, 2016 and 2015 is as follows: 2017 2016 2015 Current income tax expense (benefit): Domestic $ 16,151 $ 38,845 $ 11,246 Foreign 17,711 17,692 19,877 Total current income tax expense 33,862 56,537 31,123 Deferred income tax expense (benefit): Domestic (83,647) 33,798 76,969 Foreign 2,737 3,969 1,149 Total deferred income tax expense (80,910) 37,767 78,118 Total tax provision $ (47,048) $ 94,304 $ A reconciliation of CNH’s statutory and effective income tax rate for the years ended December 31, 2017, 2016, and 2015 is as follows: 2017 2016 2015 Tax provision at statutory rate 35.0 % 35.0 % 35.0 % State taxes 5.9 4.7 4.0 Foreign taxes (8.5) (5.2) (4.8) Tax credits and incentives (0.6) (0.6) (0.5) Tax rate and legislative changes (54.5) — — Other (0.4) (0.4) (0.3) Total tax provision effective rate (23.1) % 33.5 % 33.4 % The components of the Company’s net deferred tax liability as of December 31, 2017 and 2016 are as follows: 2017 2016 Deferred tax assets: Pension, postretirement and post-employment benefits $ 1,986 $ 3,111 Marketing and sales incentive programs 39,836 60,364 Allowance for credit losses 18,539 30,606 Other accrued liabilities 471 3,641 Tax loss and tax credit carry forwards 1,892 712 Total deferred tax assets $ 62,724 $ 98,434 Deferred tax liability: Equipment on operating lease $ 268,129 $ 396,070 Deferred tax liability, net (1) $ $ (1) In the accompanying consolidated balance sheets, the US net deferred tax position in 2017 and 2016 is included in “Accounts payable and other accrued liabilities” while the Canadian net deferred tax position in 2017 and 2016 is included in “Other assets”. Deferred taxes are provided to reflect timing differences between the financial and tax basis of assets and liabilities and tax carryforwards using currently enacted tax rates and laws. Management believes it is more likely than not the benefit of the deferred tax assets will be realized. A reconciliation of the gross amounts of tax contingencies at the beginning and end of the year is as follows: 2017 2016 2015 Balance, beginning of year $ — $ — $ 8 Additions based on tax positions related to the current year — — — Reductions for tax positions of prior years — — — Settlements — — (8) Balance, end of year $ — $ — $ — The total amount of unrecognized tax benefits that, if recognized, would affect the annual effective income tax rate is $0. The Company recognizes interest and penalties accrued related to tax contingencies in income tax expense. During the years ended December 31, 2017, 2016 and 2015, the Company recognized approximately $0, $0 and $0, respectively, in interest and penalties. The Company had approximately $0, $0 and $0 for the expected future payment of interest and penalties accrued at December 31, 2017, 2016 and 2015, respectively. The Company has open tax years from 2012 to 2017. The Company does not believe the resolution of any outstanding tax examinations will have a material adverse effect on the Company’s financial position or its results of operations. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “U.S. Tax Act”) which included, among other things, a reduction in the corporate tax rate from 35% to 21% and a tax on deemed repatriation of the undistributed earnings of foreign subsidiaries. As a result, the Company recorded an estimated net tax benefit of $111,000 that related to a tax benefit for the revaluation of its net deferred tax liability, which was offset by a tax charge on the deemed repatriation. The ultimate impact may differ from these provisional amounts, due to, among other things, additional analysis, changes in interpretations and assumptions the Company has made, additional regulatory guidance that may be issued, and actions the Company may take as a result of the U.S. Tax Act. The accounting is expected to be complete when the 2017 U.S. corporate income tax return is filed in 2018. At December 31, 2017, there are no outside basis differences in subsidiaries outside the U.S.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
FINANCIAL INSTRUMENTS	Dec. 31, 2017
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS	NOTE 10: FINANCIAL INSTRUMENTS The Company may elect to measure many financial instruments and certain other items at fair value. This fair value option must be applied on an instrument‑by‑instrument basis with changes in fair value reported in earnings. The election can be made at the acquisition of an eligible financial asset, financial liability, or firm commitment or when certain specified reconsideration events occur. The fair value election may not be revoked once made. The Company did not elect the fair value measurement option for eligible items. Fair‑Value Hierarchy U.S. GAAP specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s internally‑developed market assumptions. These two types of inputs have created the following fair‑value hierarchy: Level 1 - Quoted prices for identical instruments in active markets. Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model‑derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 - Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. This hierarchy requires the use of observable market data when available. Determination of Fair Value When available, the Company uses quoted market prices to determine fair value and classifies such items in Level 1. In some cases where a market price is not available, the Company will make use of observable market‑based inputs to calculate fair value, in which case the items are classified in Level 2. If quoted or observable market prices are not available, fair value is based upon internally developed valuation techniques that use, where possible, current market‑based or independently sourced market parameters such as interest rates, currency rates, or yield curves. Items valued using such internally generated valuation techniques are classified according to the lowest level input or value driver that is significant to the valuation. Thus, an item may be classified in Level 3 even though there may be some significant inputs that are readily observable. The following section describes the valuation methodologies used by the Company to measure various financial instruments at fair value, including an indication of the level in the fair value hierarchy in which each instrument is generally classified. Where appropriate, the description includes details of the valuation models and the key inputs to those models, as well as any significant assumptions. Derivatives The Company utilizes derivative instruments to mitigate its exposure to interest rate and foreign currency exposures. Derivatives used as hedges are effective at reducing the risk associated with the exposure being hedged and are designated as a hedge at the inception of the derivative contract. The Company does not hold or issue derivative or other financial instruments for speculative purposes. The credit risk for the interest rate hedges is reduced through diversification among counterparties, utilizing mandatory termination clauses and/or collateral support agreements. Derivative instruments are generally classified in Level 2 or 3 of the fair value hierarchy. The cash flows underlying all derivative contracts were recorded in operating activities in the consolidated statements of cash flows. Interest Rate Derivatives The Company has entered into interest rate derivatives in order to manage interest rate exposures arising in the normal course of business. Interest rate derivatives that have been designated in cash flow hedging relationships are being used by the Company to mitigate the risk of rising interest rates related to debt and anticipated issuance of fixed‑rate debt in future periods. Gains and losses on these instruments, to the extent that the hedge relationship has been effective, are deferred in accumulated other comprehensive income (loss) and recognized in interest expense over the period in which the Company recognizes interest expense on the related debt. Ineffectiveness recognized related to these hedging relationships was not significant for the years ended December 31, 2017, 2016 and 2015. These amounts are recorded in “Other expenses” in the consolidated statements of income. As of December 31, 2017, the maximum length of time over which the Company is hedging its interest rate exposure through the use of derivative instruments designated in cash flow hedge relationships is 52 months. As of December 31, 2017, the after‑tax losses deferred in accumulated other comprehensive income (loss) that will be recognized in interest expense over the next 12 months are approximately $451. The Company also enters into interest rate derivatives with substantially similar economic terms that are not designated as hedging instruments to mitigate interest rate risk related to the Company’s committed asset‑backed facilities. These facilities require the Company to enter into interest rate derivatives. To ensure that these transactions do not result in the Company being exposed to this risk, the Company enters into an offsetting position. Unrealized and realized gains and losses resulting from fair value changes in these instruments are recognized directly in income and were insignificant for the years ended December 31, 2017, 2016 and 2015. Most of the Company’s interest rate derivatives are considered Level 2. The fair market value of these derivatives is calculated using market data input for forecasted benchmark interest rates and can be compared to actively traded derivatives. If the future notional amount of the Company’s interest rate derivatives is not known in advance, the derivatives are considered Level 3 derivatives. The fair market value of these derivatives is calculated using market data input and a forecasted future notional balance. The total notional amount of the Company’s interest rate derivatives was approximately $3,143,737 and $2,954,424 at December 31, 2017 and 2016, respectively. The thirteen‑month average notional amounts as of December 31, 2017 and 2016 were $3,246,576 and $3,099,006, respectively. Foreign Exchange Contracts The Company uses forward contracts to hedge certain assets and liabilities denominated in foreign currencies. Such derivatives are considered economic hedges and are not designated as hedging instruments. The changes in the fair value of these instruments are recognized directly as income in “Other expenses” and are expected to offset the foreign exchange gains or losses on the exposures being managed. All of the Company’s foreign exchange derivatives are considered Level 2 as the fair value is calculated using market data input and can be compared to actively traded derivatives. Financial Statement Impact of the Company’s Derivatives The fair values of the Company’s derivatives as of December 31, 2017 and 2016 in the consolidated balance sheets are recorded as follows: 2017 2016 Derivatives Designated as Hedging Instruments Other assets: Interest rate derivatives $ 4,113 $ 1,631 Accounts payable and other accrued liabilities: Interest rate derivatives $ 6,698 $ 5,646 Derivatives Not Designated as Hedging Instruments Other assets: Interest rate derivatives $ 4,638 $ 3,977 Foreign exchange contracts 1,393 58 Total $ 6,031 $ 4,035 Accounts payable and other accrued liabilities: Interest rate derivatives $ 4,638 $ 3,977 Foreign exchange contracts 325 1,183 Total $ 4,963 $ 5,160 Pre‑tax gains (losses) on the consolidated statements of income and comprehensive income related to the Company’s derivatives for the years ended December 31, 2017, 2016 and 2015 are recorded in the following accounts: 2017 2016 2015 Cash Flow Hedges Recognized in accumulated other comprehensive income (loss) (effective portion): Interest rate derivatives $ 2,797 $ 1,277 $ (3,063) Reclassified from accumulated other comprehensive income (loss) (effective portion): Interest rate derivatives - Interest expense to third parties (749) (694) (3,979) Not Designated as Hedges Foreign exchange contracts - Other expenses $ 1,155 $ 4,128 $ (329) Items Measured at Fair Value on a Recurring Basis The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2017 and 2016, all of which are classified as Level 2: Level 2 2017 2016 Assets Interest rate derivatives $ 8,751 $ 5,608 Foreign exchange contracts 1,393 58 Total assets $ 10,144 $ 5,666 Liabilities Interest rate derivatives $ 11,336 $ 9,623 Foreign exchange contracts 325 1,183 Total liabilities $ 11,661 $ 10,806 There were no transfers between Level 1, Level 2 and Level 3 hierarchy levels during the periods presented. Items Measured at Fair Value on a Nonrecurring Basis The Company may be required, from time to time, to measure certain other financial assets at fair value on a nonrecurring basis in accordance with U.S. GAAP. These adjustments to fair value usually result from application of lower of cost or market accounting or impairment charges of individual assets. Equipment held for sale measured at fair value on a nonrecurring basis that was held on the consolidated balance sheet at December 31, 2017 and 2016 was $123,503 and $155,473, respectively. The fair market value of these assets was based on an internal valuation methodology, which used industry guide book values adjusted for recent remarketing history and was classified as Level 3 under the fair value hierarchy. For the years ended December 31, 2017, 2016 and 2015, the Company recorded impairment losses on equipment held for sale of $5,646, $11,400 and $28,893, respectively. In addition, the Company recorded (gains) losses on the sale of the equipment held of $9,784, $(1,690) and $(4,783) for the years ended December 31, 2017, 2016 and 2015, respectively. Both the impairment losses and the gains on the sale of equipment held were included in “Other expenses” in the accompanying consolidated statements of income. Fair Value of Other Financial Instruments The carrying amount of cash and cash equivalents, restricted cash, floating-rate affiliated accounts and notes receivable, floating‑rate short‑term debt, interest payable and short‑term affiliated debt was assumed to approximate its fair value. Under the fair value hierarchy, cash and cash equivalents and restricted cash are classified as Level 1 and the remainder of the financial instruments listed is classified as Level 2. Financial Instruments Not Carried at Fair Value The carrying amount and estimated fair value of assets and liabilities considered financial instruments as of December 31, 2017 and 2016 are as follows: 2017 2016 Carrying Estimated Carrying Estimated Amount Fair Value * Amount Fair Value * Receivables $ 10,461,733 $ 10,419,096 $ 10,882,070 $ 10,885,595 Long-term debt $ 6,332,763 $ 6,314,182 $ 7,474,318 $ 7,364,581 * Under the fair value hierarchy, receivables measurements are classified as Level 3 and long‑term debt measurements are classified as Level 2. Financial Assets The fair value of receivables was determined by discounting the estimated future payments using a discount rate which includes an estimate for credit risk. Financial Liabilities The fair values of long‑term debt were based on current market quotes for identical or similar borrowings and credit risk.

SEGMENT AND GEOGRAPHICAL INFORM

SEGMENT AND GEOGRAPHICAL INFORMATION	12 Months Ended
SEGMENT AND GEOGRAPHICAL INFORMATION	Dec. 31, 2017
SEGMENT AND GEOGRAPHICAL INFORMATION
SEGMENT AND GEOGRAPHICAL INFORMATION	NOTE 11: SEGMENT AND GEOGRAPHICAL INFORMATION The Company’s segment data is based on disclosure requirements of accounting guidance on segment reporting, which requires financial information be reported on the basis that is used internally for measuring segment performance. The Company’s reportable segments are strategic business units that are organized around differences in geographic areas. Each segment is managed separately as they require different knowledge of regulatory environments and marketing strategies. The operating segments offer primarily the same services within each of the respective segments. A summary of the Company’s reportable segment information is as follows: 2017 2016 2015 Revenues United States $ 756,210 $ 780,071 $ 762,790 Canada 187,107 170,825 170,342 Eliminations (4,385) (4,175) (4,052) Total $ 938,932 $ 946,721 $ 929,080 Interest expense United States $ 279,542 $ 269,560 $ 249,209 Canada 47,413 39,714 45,116 Eliminations (4,385) (4,175) (4,052) Total $ 322,570 $ 305,099 $ 290,273 Segment net income United States $ 189,225 $ 121,122 $ 159,942 Canada 61,264 66,390 57,657 Total $ 250,489 $ 187,512 $ 217,599 Depreciation and amortization United States $ 238,037 $ 208,942 $ 160,069 Canada 44,864 40,528 35,349 Total $ 282,901 $ 249,470 $ 195,418 Expenditures for equipment on operating leases United States $ 507,349 $ 555,219 $ 789,035 Canada 128,470 168,164 148,882 Total $ 635,819 $ 723,383 $ 937,917 Provision for credit losses United States $ 40,516 $ 35,867 $ 20,440 Canada 382 (5,021) 1,455 Total $ 40,898 $ 30,846 $ 21,895 2017 2016 2015 Segment assets United States $ 10,738,403 $ 12,016,606 $ 13,088,630 Canada 2,838,754 2,400,814 2,225,158 Eliminations (65,079) (374,161) (285,774) Total $ 13,512,078 $ 14,043,259 $ 15,028,014 Managed receivables United States $ 8,297,851 $ 9,082,365 $ 9,949,367 Canada 2,243,078 1,884,600 1,782,382 Total $ 10,540,929 $ 10,966,965 $ 11,731,749

RELATED - PARTY TRANSACTIONS

RELATED - PARTY TRANSACTIONS	12 Months Ended
RELATED - PARTY TRANSACTIONS	Dec. 31, 2017
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS	NOTE 12: RELATED‑PARTY TRANSACTIONS The Company receives compensation from CNH Industrial North America for retail, wholesale and operating lease sales programs offered by CNH Industrial North America on which finance charges are waived or below market rate financing programs are offered. The Company receives compensation from CNH Industrial North America based on the Company’s estimated costs and a targeted return on equity. The Company is also compensated for lending funds to CNH Industrial North America. In addition, the Company receives income from Iveco Argentina for wholesale factoring receivables purchased at a discount. The summary of sources included in “Interest and other income from affiliates” in the accompanying consolidated statements of income at December 31, 2017, 2016, and 2015 is as follows: 2017 2016 2015 Subsidy from CNH Industrial North America Retail $ 157,496 $ $ 193,008 Wholesale 166,426 156,654 151,960 Operating lease 68,987 63,955 Income from Iveco Argentina Wholesale factoring 5,199 — — Income from affiliated receivables CNH Industrial North America — 1,155 56 Other affiliates 150 — — Total interest and other income from affiliates $ 398,258 $ $ 408,979 Interest expense to affiliates was $11,442, $7,218 and $21,182, respectively, for the years ended December 31, 2017, 2016 and 2015. Fees charged by affiliates were $46,431 and $45,225 and $46,771 for the years ended December 31, 2017, 2016 and 2015, respectively, and represents payroll and other human resource services CNH Industrial America performs on behalf of the Company. As of December 31, 2017 and 2016, the Company had various accounts and notes receivable and debt with the following affiliates: 2017 2016 Rate Maturity Amount Rate Maturity Amount Affiliated receivables CNH Industrial America — $ 16,550 — $ CNH Industrial Canada Ltd. — 3,855 — Other affiliates — 12,540 — Total affiliated receivables $ 32,945 $ Affiliated debt CNH Industrial America $ 327,160 $ 132,851 CNH Industrial Canada Ltd. 118,642 — Total affiliated debt $ 445,802 $ 132,851 Included in “Other Assets” in the accompanying balance sheet were tax receivables due from related parties of $3,513 as of December 31, 2017. Accounts payable and other accrued liabilities, including tax payables, of $60,070 and $3,792, respectively, as of December 31, 2017 and 2016, were payable to related parties. On March 31, 2015, CNH Industrial Capital Canada redeemed all of its outstanding shares of preferred stock for C$76,618 ($60,416). These shares earned dividends of 1-year LIBOR plus 1.2% per annum. Dividends were accrued and recorded in “Net income attributed to noncontrolling interest” in the consolidated statements of income. A dividend of C$668 ($551) was paid by CNH Industrial Capital Canada to CNH Industrial Canada Ltd. in March 2015, which represented all accrued and unpaid dividends on the preferred stock through the redemption date.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2017
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 13: COMMITMENTS AND CONTINGENCIES Legal Matters The Company is party to various litigation matters and claims arising from its operations. Management believes that the outcome of these proceedings, individually and in the aggregate, will not have a material adverse effect on the Company’s financial position or results of operations. Commitments The Company has various agreements to extend credit for the wholesale and dealer financing managed portfolio. At December 31, 2017, the total credit limit available was $6,325,738, of which $3,331,045 was utilized.

SUPPLEMENTAL CONDENSED CONSOLID

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION	12 Months Ended
SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION	Dec. 31, 2017
SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION
SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION	NOTE 14: SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION CNH Industrial Capital America and New Holland Credit, which are 100%‑owned subsidiaries of CNH Industrial Capital LLC (the “Guarantor Entities”), guarantee certain indebtedness of CNH Industrial Capital LLC. As the guarantees are full, unconditional, and joint and several and because the Guarantor Entities are 100%‑owned by CNH Industrial Capital LLC, the Company has included the following condensed consolidating financial information as of December 31, 2017 and 2016 and for the three years ended December 31, 2017. The condensed consolidating financial information reflects investments in consolidated subsidiaries under the equity method of accounting. Condensed Statements of Comprehensive Income for the Year Ended December 31, 2017 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 16,206 $ 185,327 $ — $ 201,533 Interest income on wholesale notes — (1,107) 66,828 — 65,721 Interest and other income from affiliates 100,033 243,273 326,346 (271,394) 398,258 Rental income on operating leases — 197,859 53,750 — 251,609 Other income — 94,408 1,906 (74,503) 21,811 Total revenues 100,033 550,639 634,157 (345,897) 938,932 EXPENSES Interest expense: Interest expense to third parties 164,836 2,125 144,167 — 311,128 Interest expense to affiliates — 236,267 46,569 (271,394) 11,442 Total interest expense 164,836 238,392 190,736 (271,394) 322,570 Administrative and operating expenses: Fees charged by affiliates — 44,666 76,268 (74,503) 46,431 Provision for credit losses — 11,090 29,808 — 40,898 Depreciation of equipment on operating leases — 235,911 44,854 — 280,765 Other expenses — 33,176 11,651 — 44,827 Total administrative and operating expenses — 324,843 162,581 (74,503) 412,921 Total expenses 164,836 563,235 353,317 (345,897) 735,491 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (64,803) (12,596) 280,840 — 203,441 Income tax provision (benefit) (24,331) (148,033) 125,316 — (47,048) Equity in income of consolidated subsidiaries accounted for under the equity method 290,961 155,524 — (446,485) — NET INCOME 250,489 290,961 155,524 (446,485) 250,489 COMPREHENSIVE INCOME $ 294,462 $ 334,934 $ 192,936 $ (527,870) $ 294,462 Condensed Balance Sheets as of December 31, 2017 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 160,339 $ 66,607 $ — $ 226,946 Restricted cash — — 648,612 — 648,612 Receivables, less allowance for credit losses — 1,400,712 9,061,021 — 10,461,733 Affiliated accounts and notes receivable 2,518,121 1,958,720 2,060,589 (6,504,485) 32,945 Equipment on operating leases, net — 1,405,731 375,758 — 1,781,489 Equipment held for sale — 191,710 16,806 — 208,516 Investments in consolidated subsidiaries accounted for under the equity method 2,620,971 2,525,605 — (5,146,576) — Goodwill and intangible assets, net — 88,440 29,016 — 117,456 Other assets 7,548 4,432 26,466 (4,065) 34,381 TOTAL $ 5,146,640 $ 7,735,689 $ 12,284,875 $ (11,655,126) $ 13,512,078 LIABILITIES AND STOCKHOLDER’S EQUITY Liabilities: Short-term debt, including current maturities of long-term debt $ 1,015,520 $ 45,937 $ 3,556,007 $ — $ 4,617,464 Accounts payable and other accrued liabilities 283,445 2,807,195 1,160,573 (3,510,803) 740,410 Affiliated debt — 2,253,248 1,190,301 (2,997,747) 445,802 Long-term debt 2,472,036 8,338 3,852,389 — 6,332,763 Total liabilities 3,771,001 5,114,718 9,759,270 (6,508,550) 12,136,439 Stockholder’s equity 1,375,639 2,620,971 2,525,605 (5,146,576) 1,375,639 TOTAL $ 5,146,640 $ 7,735,689 $ 12,284,875 $ (11,655,126) $ 13,512,078 Condensed Statements of Cash Flows for the Year Ended December 31, 2017 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash from (used in) operating activities $ 564,252 $ 837,510 $ 82,469 $ (922,660) $ 561,571 CASH FLOWS FROM INVESTING ACTIVITIES: Cost of receivables acquired — (8,275,121) (9,406,275) 6,808,056 (10,873,340) Collections of receivables — 8,316,852 9,897,291 (6,808,286) 11,405,857 Change in restricted cash — 100 71,776 — 71,876 Purchase of equipment on operating leases, net — (136,711) (63,230) — (199,941) Change in property and equipment and software, net — (1,614) — — (1,614) Net cash from (used in) investing activities — (96,494) 499,562 (230) 402,838 CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany activity — (683,231) 48,874 922,890 288,533 Net change in indebtedness (279,252) (48,999) (576,992) — (905,243) Dividends paid to CNH Industrial America LLC (285,000) — — — (285,000) Net cash from (used in) financing activities (564,252) (732,230) (528,118) 922,890 (901,710) INCREASE IN CASH AND CASH EQUIVALENTS — 8,786 53,913 — 62,699 CASH AND CASH EQUIVALENTS: Beginning of year — 151,553 12,694 — 164,247 End of year $ — $ 160,339 $ 66,607 $ — $ 226,946 Condensed Statements of Comprehensive Income for the Year Ended December 31, 2016 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 15,990 $ 195,516 $ — $ 211,506 Interest income on wholesale notes — (96) 69,006 — 68,910 Interest and other income from affiliates 97,254 232,020 324,262 (255,164) 398,372 Rental income on operating leases — 196,911 46,620 — 243,531 Other income — 103,422 2,837 (81,857) 24,402 Total revenues 97,254 548,247 638,241 (337,021) 946,721 EXPENSES Interest expense: Interest expense to third parties 162,264 6,209 129,408 — 297,881 Interest expense to affiliates — 226,544 35,838 (255,164) 7,218 Total interest expense 162,264 232,753 165,246 (255,164) 305,099 Administrative and operating expenses: Fees charged by affiliates — 43,469 83,613 (81,857) 45,225 Provision for credit losses — 9,879 20,967 — 30,846 Depreciation of equipment on operating leases — 206,924 40,514 — 247,438 Other expenses — 28,035 8,262 — 36,297 Total administrative and operating expenses — 288,307 153,356 (81,857) 359,806 Total expenses 162,264 521,060 318,602 (337,021) 664,905 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (65,010) 27,187 319,639 — 281,816 Income tax provision (benefit) (24,261) 10,204 108,361 — 94,304 Equity in income of consolidated subsidiaries accounted for under the equity method 228,261 211,278 — (439,539) — NET INCOME 187,512 228,261 211,278 (439,539) 187,512 COMPREHENSIVE INCOME $ 204,914 $ 245,663 $ 225,994 $ (471,657) $ 204,914 Condensed Balance Sheets as of December 31, 2016 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 151,553 $ 12,694 $ — $ 164,247 Restricted cash — 100 712,745 — 712,845 Receivables, less allowance for credit losses — 1,453,303 9,428,767 — 10,882,070 Affiliated accounts and notes receivable 3,138,443 2,293,055 1,878,093 (7,225,748) 83,843 Equipment on operating leases, net — 1,526,746 331,697 — 1,858,443 Equipment held for sale — 182,636 17,347 — 199,983 Investments in consolidated subsidiaries accounted for under the equity method 2,286,578 2,332,668 — (4,619,246) — Goodwill and intangible assets, net — 88,938 27,143 — 116,081 Other assets 3,870 (14,344) 40,517 (4,296) 25,747 TOTAL $ 5,428,891 $ 8,014,655 $ 12,449,003 $ (11,849,290) $ 14,043,259 LIABILITIES AND STOCKHOLDER’S EQUITY Liabilities: Short-term debt, including current maturities of long-term debt $ 500,000 $ 45,289 $ 3,717,340 $ — $ 4,262,629 Accounts payable and other accrued liabilities 295,365 2,688,323 1,132,462 (3,309,407) 806,743 Affiliated debt — 2,936,479 1,117,009 (3,920,637) 132,851 Long-term debt 3,266,808 57,986 4,149,524 — 7,474,318 Total liabilities 4,062,173 5,728,077 10,116,335 (7,230,044) 12,676,541 Stockholder’s equity 1,366,718 2,286,578 2,332,668 (4,619,246) 1,366,718 TOTAL $ 5,428,891 $ 8,014,655 $ 12,449,003 $ (11,849,290) $ 14,043,259 Condensed Statements of Cash Flows for the Year Ended December 31, 2016 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash from (used in) operating activities $ (102,001) $ (7,764) $ 594,950 $ 158,127 $ 643,312 CASH FLOWS FROM INVESTING ACTIVITIES: Cost of receivables acquired — (8,577,888) (9,076,389) 6,888,764 (10,765,513) Collections of receivables — 8,660,606 9,775,641 (6,889,105) 11,547,142 Change in restricted cash — — 86,176 — 86,176 Purchase of equipment on operating leases, net — (255,439) (105,992) — (361,431) Change in property and equipment and software, net — (887) (3) — (890) Net cash from (used in) investing activities — (173,608) 679,433 (341) 505,484 CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany activity — 172,351 224,700 (286,842) 110,209 Net change in indebtedness 392,001 (21,166) (1,477,741) — (1,106,906) Dividends paid to CNH Industrial America LLC (290,000) — (129,056) 129,056 (290,000) Net cash from (used in) financing activities 102,001 151,185 (1,382,097) (157,786) (1,286,697) DECREASE IN CASH AND CASH EQUIVALENTS — (30,187) (107,714) — (137,901) CASH AND CASH EQUIVALENTS: Beginning of year — 181,740 120,408 — 302,148 End of year $ — $ 151,553 $ 12,694 $ — $ 164,247 Condensed Statements of Comprehensive Income for the Year Ended December 31, 2015 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 7,242 $ 201,139 $ — $ 208,381 Interest income on wholesale notes — (1,221) 73,547 — 72,326 Interest and other income from affiliates 85,976 222,387 340,456 (239,840) 408,979 Rental income on operating leases — 168,943 45,244 — 214,187 Other income — 105,784 2,777 (83,354) 25,207 Total revenues 85,976 503,135 663,163 (323,194) 929,080 EXPENSES Interest expense: Interest expense to third parties 143,485 (2,468) 128,074 — 269,091 Interest expense to affiliates — 226,079 34,943 (239,840) 21,182 Total interest expense 143,485 223,611 163,017 (239,840) 290,273 Administrative and operating expenses: Fees charged by affiliates — 44,711 85,414 (83,354) 46,771 Provision for credit losses — 4,148 17,747 — 21,895 Depreciation of equipment on operating leases — 155,194 38,608 — 193,802 Other expenses 1 40,114 9,384 — 49,499 Total administrative and operating expenses 1 244,167 151,153 (83,354) 311,967 Total expenses 143,486 467,778 314,170 (323,194) 602,240 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (57,510) 35,357 348,993 — 326,840 Income tax provision (benefit) (22,180) 10,522 120,899 — 109,241 Equity in income of consolidated subsidiaries accounted for under the equity method 252,670 227,835 — (480,505) — NET INCOME 217,340 252,670 228,094 (480,505) 217,599 Net income attributed to noncontrolling interest — — (259) — (259) NET INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC $ 217,340 $ 252,670 $ 227,835 $ (480,505) $ 217,340 COMPREHENSIVE INCOME $ 105,730 $ 141,060 $ 132,062 $ (272,863) $ 105,989 Comprehensive income attributed to noncontrolling interest — — (259) — (259) COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC $ 105,730 $ 141,060 $ 131,803 $ (272,863) $ 105,730 Condensed Statements of Cash Flows for the Year Ended December 31, 2015 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash from (used in) operating activities $ (126,019) $ 722,712 $ (367,316) $ 292,721 $ 522,098 CASH FLOWS FROM INVESTING ACTIVITIES: Cost of receivables acquired — (11,582,973) (10,723,276) 8,295,661 (14,010,588) Collections of receivables — 11,878,402 11,205,283 (8,295,272) 14,788,413 Change in restricted cash — — 41,489 — 41,489 Purchase of equipment on operating leases, net — (605,011) (15,779) — (620,790) Change in property and equipment and software, net — (1,702) — — (1,702) Net cash from (used in) investing activities — (311,284) 507,717 389 196,822 CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany activity — (556,700) 14,505 (293,110) (835,305) Net change in indebtedness 296,019 101,669 (96,175) — 301,513 Dividends paid to CNH Industrial America LLC (170,000) — — — (170,000) Preferred dividend paid to CNH Industrial Canada Ltd. — — (551) — (551) Redemption of preferred stock of subsidiary — — (60,416) — (60,416) Net cash from (used in) financing activities 126,019 (455,031) (142,637) (293,110) (764,759) DECREASE IN CASH AND CASH EQUIVALENTS — (43,603) (2,236) — (45,839) CASH AND CASH EQUIVALENTS: Beginning of year — 225,343 122,644 — 347,987 End of year $ — $ 181,740 $ 120,408 $ — $ 302,148

SUPPLEMENTAL QUARTERLY INFORMAT

SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED)	12 Months Ended
SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED)	Dec. 31, 2017
SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED)
SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED)	NOTE 15: SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED) For the Year Ended December 31, 2017 First Second Third Fourth Fiscal Quarter Quarter Quarter Quarter Year Revenues $ 232,834 $ 229,863 $ 234,889 $ 241,346 $ 938,932 Interest expense 74,728 78,797 79,772 89,273 322,570 Administrative and operating expenses 101,676 95,994 106,591 108,660 412,921 Income tax provision 18,037 16,885 14,387 (96,357) (47,048) Net income attributable to CNH Industrial Capital LLC $ 38,393 $ 38,187 $ 34,139 $ 139,770 $ 250,489 For the Year Ended December 31, 2016 First Second Third Fourth Fiscal Quarter Quarter Quarter Quarter Year Revenues $ $ $ $ $ Interest expense Administrative and operating expenses Income tax provision Net income attributable to CNH Industrial Capital LLC $ $ $ $ $

SUMMARY OF SIGNIFICANT ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The Company has prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the Company and its consolidated subsidiaries. The consolidated financial statements are expressed in U.S. dollars. The consolidated financial statements include the accounts of the Company’s subsidiaries in which the Company has a controlling financial interest and reflect the noncontrolling interests of the minority owners of the subsidiaries that are not fully owned for the periods presented, as applicable. A controlling financial interest may exist based on ownership of a majority of the voting interest of a subsidiary, or based on the Company’s determination that it is the primary beneficiary of a variable interest entity (“VIE”). The primary beneficiary of a VIE is the party that has the power to direct the activities that most significantly impact the economic performance of the entity and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entity. The Company assesses whether it is the primary beneficiary on an ongoing basis, as prescribed by the accounting guidance on the consolidation of VIEs. The consolidated status of the VIEs with which the Company is involved may change as a result of such reassessments.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities and reported amounts of revenues and expenses. Significant estimates in these consolidated financial statements include the allowance for credit losses and residual values of equipment on operating leases. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition Finance and interest income on retail notes and finance leases and on wholesale notes is recorded using the effective yield method. Deferred costs on the origination of financing receivables are recognized as a reduction in finance revenue over the expected lives of the receivables using the effective yield method. Recognition of income on receivables is suspended when management determines that collection of future income is not probable or when an account becomes 120 days delinquent, whichever occurs earlier. Income accrual is resumed if the receivable becomes contractually current and collection doubts are removed. Previously suspended income is recognized at that time. The Company applies cash received on nonaccrual financing receivables to first reduce any unrecognized interest and then the recorded investment and any other fees. Receivables are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Delinquency is reported on receivables greater than 30 days past due. Charge‑offs of principal amounts of receivables outstanding are deducted from the allowance at the point when it is estimated that amounts due are deemed uncollectible. A substantial portion of the Company’s interest income arises from retail sales programs offered by CNH Industrial North America on which finance charges are waived or below-market rate financing programs are offered. When the Company acquires retail installment sales contracts and finance leases subject to below-market interest rates, including waived interest rate financing, the Company receives compensation from CNH Industrial North America based on the Company’s estimated costs and a targeted return on equity. This amount is initially recognized as an unearned finance charge and is recognized as interest income over the term of the retail notes and finance leases, and is included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. For selected wholesale receivables, CNH Industrial North America compensates the Company based on the Company’s estimated costs and a targeted return on equity. These amounts are included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. The Company is also compensated for lending funds to CNH Industrial North America. The amounts earned are included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. Income from operating leases is recognized over the term of the lease on a straight-line basis. For selected operating leases, CNH Industrial North America compensates the Company based on the Company’s estimated costs and a targeted return on equity. The amounts from CNH Industrial North America recognized as rental income on operating leases are included in “Interest and other income from affiliates.”
Foreign Currency Translation	Foreign Currency Translation The Company’s non‑U.S. subsidiaries maintain their books and accounting records using local currency as the functional currency. Assets and liabilities of these non‑U.S. subsidiaries are translated into U.S. dollars at period‑end exchange rates, and net exchange gains or losses resulting from such translation are included in “Accumulated other comprehensive income” in the accompanying consolidated balance sheets. Income and expense accounts of these non‑U.S. subsidiaries are translated at the average exchange rates for the period, and gains and losses from foreign currency transactions are included in net income in the period that they arise.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents are highly liquid investments with an original maturity of three months or less. The carrying value of cash equivalents approximates fair value because of the short maturity of these investments.
Restricted Cash	Restricted Cash Restricted cash includes principal and interest payments from retail notes and wholesale receivables owned by the consolidated VIEs that are payable to the VIEs’ investors, and cash pledged as a credit enhancement to the same investors. These amounts are held by depository banks in order to comply with contractual agreements.
Receivables	Receivables Receivables are recorded at amortized cost, net of allowances for credit losses and deferred fees and costs. Periodically, the Company sells or transfers retail notes and wholesale receivables to funding facilities or in securitization transactions. In accordance with the accounting guidance regarding transfers of financial assets and the consolidation of VIEs, the majority of the retail notes and wholesale receivables sold in securitizations do not qualify as sales and are recorded as secured borrowings with no gains or losses recognized at the time of securitization. Receivables associated with these securitization transactions and receivables that the Company has the ability and intent to hold for the foreseeable future are classified as held for investment. The substantial majority of the Company’s receivables, which include unrestricted receivables and restricted receivables for securitization investors, are classified as held for investment.
Allowance for Credit Losses	Allowance for Credit Losses The allowance for credit losses is the Company’s estimate of losses on receivables owned by the Company and consists of two components, depending on whether the receivable has been individually identified as being impaired. The first component of the allowance for credit losses covers the receivables specifically reviewed by management for which the Company has determined it is probable that it will not collect all the principal and interest payments as per the terms of the contract. Receivables are individually reviewed for impairment based on, among other items, amounts outstanding, days past due and prior collection history. These receivables are subject to impairment measurement at the loan level based either on the fair value of the collateral for collateral dependent receivables or on the present value of expected future cash flows discounted at the receivables’ effective interest rate. The second component of the allowance for credit losses covers all receivables that have not been individually reviewed for impairment. The allowance for these receivables is based on aggregated portfolio evaluations, generally by financial product. The allowance for retail and wholesale credit losses is based on loss forecast models that consider a variety of factors that include, but are not limited to, historical loss experience, collateral value, portfolio balance and delinquency. The loss forecast models are updated on a quarterly basis. In addition, qualitative factors that are not fully captured in the loss forecast models, including industry trends, and macroeconomic factors, are considered in the evaluation of the adequacy of the allowance for credit losses. These qualitative factors are subjective and require a degree of management judgment.
Equipment on Operating Leases	Equipment on Operating Leases The Company purchases leases and equipment from CNH Industrial North America dealers and other independent third parties that have leased equipment to retail customers under operating leases. The Company’s investment in operating leases is based on the purchase price paid for the equipment. Income from these operating leases is recognized over the term of the lease. The equipment is depreciated on a straight-line basis over the term of the lease to the estimated residual value at lease termination. Residual values are estimated at the inception of the lease and are reviewed quarterly. Realization of the residual values is dependent on the Company’s future ability to re-market the equipment under then prevailing market conditions. Equipment model changes and updates, as well as market strength and product acceptance, are monitored and adjustments are made to residual values in accordance with the significance of any such changes. Management believes that the estimated residual values are realizable. Expenditures for maintenance and repairs are the responsibility of the lessee. The Company evaluates the carrying amount of equipment on operating leases for potential impairment when it determines a triggering event has occurred. When a triggering event occurs, a test for recoverability is performed comparing projected undiscounted future cash flows to the carrying amount of the asset. If the test for recoverability identifies a possible impairment, the asset’s fair value is measured in accordance with the fair value measurement framework. An impairment charge would be recognized for the amount by which the carrying amount of the asset exceeds its estimated fair value. Equipment returned to the Company upon termination of leases and held for subsequent sale or lease is recorded at the lower of net book value or estimated fair value of the equipment, less cost to sell, and is not depreciated.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired. Goodwill is deemed to have an indefinite useful life and is reviewed for impairment at least annually. During 2017 and 2016, the Company performed its annual impairment review as of December 31, and concluded that there was no impairment in either year. Other intangible assets consist of software and are being amortized on a straight‑line basis over five years.
Income Taxes	Income Taxes The provision for income taxes is determined using the asset and liability method. The Company recognizes a current tax liability or asset for the estimated taxes payable or refundable on tax returns for the current year and tax contingencies estimated to be settled with taxing authorities within one year. A deferred tax liability or asset is recognized for the estimated future tax effects attributable to temporary differences and tax loss carryforwards. The measurement of current and deferred tax liabilities and assets is based on provisions of enacted tax law. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized based on available evidence.
Derivatives	Derivatives The Company’s policy is to enter into derivative transactions to manage exposures that arise in the normal course of business and not for trading or speculative purposes. The Company records derivative financial instruments in the consolidated balance sheets as either an asset or liability measured at fair value. The fair value of the Company’s interest rate derivatives is based on discounting expected cash flows, using market interest rates, over the remaining term of the instrument. The fair value of the Company’s foreign exchange derivatives is based on market exchange rates, adjusted for the respective interest rate differentials (premiums or discounts). Changes in the fair value of derivative financial instruments are recognized in current income unless specific hedge accounting criteria are met. For derivative financial instruments designated to hedge exposure to changes in the fair value of a recognized asset or liability, the gain or loss is recognized in income in the period of change together with the offsetting loss or gain on the related hedged item. For derivative financial instruments designated to hedge exposure to variable cash flows of a forecasted transaction, the effective portion of the derivative financial instrument’s gain or loss is initially reported in accumulated other comprehensive income and is subsequently reclassified into income when the forecasted transaction affects income. The ineffective portion of the gain or loss is recorded in income immediately. For derivative financial instruments that are not designated as hedges but held as economic hedges, the gain or loss is recognized immediately in income. For derivative financial instruments designated as hedges, the Company formally documents the hedging relationship to the hedged item and its risk management strategy for all derivatives designated as hedges. This includes linking all derivatives that are designated as fair value hedges to specific assets and liabilities contained in the consolidated balance sheets and linking cash flow hedges to specific forecasted transactions or variability of cash flow. The Company assesses the effectiveness of its hedging instruments both at inception and on an ongoing basis. If a derivative is determined not to be highly effective as a hedge, or the underlying hedged transaction is no longer probable of occurring, or the derivative is terminated, the hedge accounting described above is discontinued and the derivative is marked to fair value and recorded in income through the remainder of its term.
New Accounting Pronouncements	New Accounting Pronouncements Adopted in 2017 In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (“ASU 2016-05”) and ASU No. 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments (“ASU 2016-06”). ASU 2016-05 clarifies that a change in the counterparty in a hedge accounting relationship does not, in and of itself, require dedesignation of that hedge accounting relationship. ASU 2016-06 clarifies the steps required to determine bifurcation of an embedded derivative. Both ASU 2016-05 and ASU 2016-06 have been adopted and neither had a material effect on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test of Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 simplifies the subsequent measurement of goodwill by removing the second step of the two-step impairment test. The amendment requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The Company elected to early adopt ASU 2017-04 on a prospective basis as of January 1, 2017, which did not have a material impact on its consolidated financial statements. New Accounting Pronouncements Not Yet Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606) (“ASU 2014-09”), which supersedes existing revenue recognition guidance under current U.S. GAAP. The new standard requires an entity to recognize revenue upon transfer of control of goods or services to a customer at an amount that reflects the consideration that the entity expects to receive. This new revenue recognition model defines a five-step process to achieve this objective. The new standard also requires additional disclosures to enable users to understand the nature, amount, timing and uncertainty of revenue and cash flow arising from contracts with customers. In August 2015, the FASB amended the effective date to be the first quarter of fiscal year 2018 with early adoption permitted in 2017. The FASB subsequently issued several amendments in 2016 clarifying various aspects of ASU 2014-09, including revenue transactions that involve a third party, goods or services that are immaterial in the context of the contract, licensing arrangements, certain transition practical expedients, disclosure of performance obligation and provisions for losses on construction-type and production-type contracts. Entities have the option to apply the new guidance under a retrospective approach to each prior reporting period presented, or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the consolidated statement of changes in equity. The new standard is effective January 1, 2018. The adoption does not impact the timing or measurement of the Company’s revenue recognition as it is consistent with its current accounting treatment for contracts within the scope of the new ASU. The adoption of this standard will not have a material impact on the Company’s consolidated financial position or results of operations and will not have a material impact on the disclosures in the Notes to the Consolidated Financial Statements. In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”), which amends ASC 825-10, Financial Instruments - Overall . This ASU changes the treatment for available-for-sale equity investments by recognizing unrealized fair value changes directly in net income, and no longer in other comprehensive income. The ASU is effective January 1, 2018, with the cumulative-effect adjustment from initially applying the new standard recognized in the consolidated statement of financial position as of January 1, 2018. The impact of the adjustments on the Company’s consolidated financial statements is expected to be immaterial. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which supersedes ASC 840, Leases . The ASU’s most prominent change is the requirement for lessees to recognize leased assets and liabilities classified as operating leases under previous GAAP. The ASU does not significantly change the lessee’s recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Lessors’ accounting under the ASC is largely unchanged from the previous accounting standard. ASU 2016-02 also will require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. It is effective for annual reporting periods beginning after December 15, 2018 including interim periods within those fiscal years, but early adoption is permitted. The ASU requires a modified retrospective transition approach and provides certain optional transition relief. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which establishes ASC 326, Financial Instruments – Credit Losses . The ASU introduced a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. Additional disclosures about significant estimates and credit quality are also required. The ASU is effective for annual periods beginning after December 15, 2019 with early adoption permitted for annual periods beginning after December 15, 2018. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). This standard provides guidance clarification to reduce diversity in classification of certain cash flow payments and receipts in the statement of cash flows. ASU 2016-15 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017 on a retrospective transition basis to each period presented, and may be early adopted. The Company does not believe the adoption of this standard will have a material impact on its consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”) that changes the presentation of restricted cash and cash equivalents on the statement of cash flows. Restricted cash and restricted cash equivalents will be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statement of cash flows. ASU 2016-18 is effective for annual reporting periods beginning after December 15, 2017, and early adoption is permitted. The Company does not believe the adoption of this standard will have a material impact on its consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”), which amends ASC 815, Derivatives and Hedging . The purpose of this ASU is to better align a company’s risk management activities and financial reporting for hedging relationships, simplify the hedge accounting requirements and improve the disclosures of hedging arrangements. ASU 2017-12 is effective for fiscal years beginning after December 15, 2018, including interim periods within these years. Early adoption is permitted in any interim period or fiscal year before the effective date. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

ACCUMULATED OTHER COMPREHENSI24

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	12 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	Dec. 31, 2017
ACCUMULATED OTHER COMPREHENSIVE INCOME
Schedule of changes in the components of AOCI and related tax effects	The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the year ended December 31, 2017: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability on Derivatives Total Beginning balance, gross $ (139,585) $ (5,768) $ (1,213) $ (146,566) Tax asset — 2,107 323 2,430 Beginning balance, net of tax (139,585) (3,661) (890) (144,136) Other comprehensive income (loss) before reclassifications 40,868 114 2,797 43,779 Amounts reclassified from accumulated other comprehensive income (loss) — 702 749 1,451 Tax effects — (317) (940) (1,257) Net current-period other comprehensive income (loss) 40,868 499 2,606 43,973 BALANCE at December 31, 2017 $ (98,717) $ (3,162) $ 1,716 $ (100,163) The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the year ended December 31, 2016: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability on Derivatives Total Beginning balance, gross $ (155,341) $ (6,084) $ (3,184) $ (164,609) Tax asset — 2,226 845 3,071 Beginning balance, net of tax (155,341) (3,858) (2,339) (161,538) Other comprehensive income (loss) before reclassifications 15,756 (476) 1,277 16,557 Amounts reclassified from accumulated other comprehensive income (loss) — 792 694 1,486 Tax effects — (119) (522) (641) Net current-period other comprehensive income (loss) 15,756 197 1,449 17,402 BALANCE at December 31, 2016 $ (139,585) $ (3,661) $ (890) $ (144,136)
Schedule of reclassifications out of AOCI and the location on the consolidated statements of income	2017 2016 Affected Line Item Amortization of defined benefit pension items: $ (702) $ (792) Various line items individually insignificant (702) Income before taxes 273 298 Income tax benefit $ (429) $ (494) Net of tax Unrealized losses on derivatives: $ (749) $ (694) Interest expense to third parties (749) Income before taxes 199 184 Income tax benefit $ (550) $ (510) Net of tax

RECEIVABLES (Tables)

RECEIVABLES (Tables)	12 Months Ended
RECEIVABLES (Tables)	Dec. 31, 2017
Receivables
Summary of receivables	2017 2016 Retail $ 768,502 $ 854,777 Wholesale 679,100 677,371 Wholesale factoring 235,834 — Finance lease 58,198 42,291 Restricted receivables 8,799,295 9,392,526 Gross receivables 10,540,929 10,966,965 Less: Allowance for credit losses (79,196) (84,895) Total receivables, net $ 10,461,733 $ 10,882,070
Maturities of receivables as of December 31, 2017, are as follows:	2018 $ 5,882,953 2019 1,688,294 2020 1,311,004 2021 924,164 2022 and thereafter 734,514 Total receivables $ 10,540,929
Summary of restricted receivables	2017 2016 Retail $ 6,042,186 $ 6,500,949 Wholesale 2,757,109 2,891,577 Total restricted receivables $ 8,799,295 $ 9,392,526
Schedule of allowance for credit losses activity	Allowance for credit losses activity for the year ended December 31, 2017 is as follows: Retail Wholesale Wholesale Total Allowance for credit losses: Beginning balance $ 78,047 $ 6,848 $ — $ 84,895 Charge-offs (46,460) (2,374) — (48,834) Recoveries 4,045 20 — 4,065 Provision 39,842 919 137 40,898 Foreign currency translation and other (1,864) 31 5 (1,828) Ending balance $ 73,610 $ 5,444 $ 142 $ 79,196 Ending balance: individually evaluated for impairment $ 18,018 $ 2,920 $ — $ 20,938 Ending balance: collectively evaluated for impairment $ 55,592 $ 2,524 $ 142 $ 58,258 Receivables: Ending balance $ $ $ $ Ending balance: individually evaluated for impairment $ 38,807 $ 43,912 $ — $ 82,719 Ending balance: collectively evaluated for impairment $ $ $ $ Allowance for credit losses activity for the year ended December 31, 2016 is as follows: Retail Wholesale Total Allowance for credit losses: Beginning balance $ 88,405 $ 6,319 $ 94,724 Charge-offs (42,949) (1) (42,950) Recoveries 3,228 522 3,750 Provision (benefit) 30,915 (69) 30,846 Foreign currency translation and other (1,552) 77 (1,475) Ending balance $ 78,047 $ 6,848 $ 84,895 Ending balance: individually evaluated for impairment $ 18,113 $ 4,250 $ 22,363 Ending balance: collectively evaluated for impairment $ 59,934 $ 2,598 $ 62,532 Receivables: Ending balance $ 7,398,017 $ 3,568,948 $ 10,966,965 Ending balance: individually evaluated for impairment $ 31,383 $ 43,659 $ 75,042 Ending balance: collectively evaluated for impairment $ 7,366,634 $ 3,525,289 $ 10,891,923 Allowance for credit losses activity for the year ended December 31, 2015 is as follows: Retail Wholesale Total Allowance for credit losses: Beginning balance $ 88,697 $ 6,845 $ 95,542 Charge-offs (22,250) (356) (22,606) Recoveries 2,555 27 2,582 Provision 21,812 83 21,895 Foreign currency translation and other (2,409) (280) (2,689) Ending balance $ 88,405 $ 6,319 $ 94,724 Ending balance: individually evaluated for impairment $ 18,220 $ 3,185 $ 21,405 Ending balance: collectively evaluated for impairment $ 70,185 $ 3,134 $ 73,319 Receivables: Ending balance $ 8,081,866 $ 3,649,883 $ 11,731,749 Ending balance: individually evaluated for impairment $ 94,584 $ 82,015 $ 176,599 Ending balance: collectively evaluated for impairment $ 7,987,282 $ 3,567,868 $ 11,555,150
Schedule of aging of financing receivables	The aging of receivables as of December 31, 2017 and 2016 is as follows: 2017 Recorded Investment Greater > 90 Days 31 – 60 Days 61 – 90 Days Than Total Total and Past Due Past Due 90 Days Past Due Current Receivables Accruing Retail United States $ 27,590 $ 8,412 $ 37,004 $ 73,006 $ 5,532,329 $ 5,605,335 $ 6,232 Canada $ 2,010 $ 585 $ 2,837 $ 5,432 $ 1,258,119 $ 1,263,551 $ 665 Wholesale United States $ 802 $ 1 $ 236 $ 1,039 $ 2,691,477 $ 2,692,516 $ 179 Canada $ 22 $ — $ 6 $ 28 $ 743,665 $ 743,693 $ 6 Wholesale Factoring $ 5,652 $ 1,390 $ — $ 7,042 $ 228,792 $ 235,834 $ — Total Retail $ 29,600 $ 8,997 $ 39,841 $ 78,438 $ 6,790,448 $ 6,868,886 $ 6,897 Wholesale $ 824 $ 1 $ 242 $ 1,067 $ 3,435,142 $ 3,436,209 $ 185 Wholesale Factoring $ 5,652 $ 1,390 $ — $ 7,042 $ 228,792 $ 235,834 $ — 2016 Recorded Investment Greater > 90 Days 31 – 60 Days 61 – 90 Days Than Total Total and Past Due Past Due 90 Days Past Due Current Receivables Accruing Retail United States $ 25,416 $ 6,743 $ 40,500 $ 72,659 $ 6,146,129 $ 6,218,788 $ 7,377 Canada $ 2,828 $ 765 $ 1,038 $ 4,631 $ 1,174,598 $ 1,179,229 $ 736 Wholesale United States $ 823 $ 88 $ 444 $ 1,355 $ 2,862,222 $ 2,863,577 $ — Canada $ — $ 1 $ 4 $ 5 $ 705,366 $ 705,371 $ — Total Retail $ 28,244 $ 7,508 $ 41,538 $ 77,290 $ 7,320,727 $ 7,398,017 $ 8,113 Wholesale $ 823 $ 89 $ 448 $ 1,360 $ 3,567,588 $ 3,568,948 $ —
Schedule of recorded investment in impaired receivables and the related unpaid principal balances, allowances and average recorded investment	December 31, 2017 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment Retail United States $ 38,035 $ 36,187 $ 17,518 $ 39,917 Canada $ 772 $ 716 $ 500 $ 1,084 Wholesale United States $ 43,912 $ 43,531 $ 2,920 $ 49,469 Total Retail $ 38,807 $ 36,903 $ 18,018 $ 41,001 Wholesale $ 43,912 $ 43,531 $ 2,920 $ 49,469 December 31, 2016 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment Retail United States $ 31,360 $ 30,031 $ 18,102 $ 31,268 Canada $ 23 $ 23 $ 11 $ 28 Wholesale United States $ 43,659 $ 43,369 $ 4,250 $ 46,482 Total Retail $ 31,383 $ 30,054 $ 18,113 $ 31,296 Wholesale $ 43,659 $ 43,369 $ 4,250 $ 46,482
Schedule of receivables on nonaccrual status	2017 2016 Retail Wholesale Total Retail Wholesale Total United States $ 40,968 $ 43,531 $ 84,499 $ 49,998 $ 43,369 $ 93,367 Canada $ 2,538 $ — $ 2,538 $ 325 $ — $ 325
Retail
Receivables
Schedule of breakdown of the portfolio by its credit quality indicators	2017 2016 Titanium $ 3,734,313 $ 4,117,736 Platinum 2,002,791 2,045,684 Gold 952,404 1,042,918 Silver 146,051 157,170 Bronze 33,327 34,509 Total $ 6,868,886 $ 7,398,017
Wholesale
Receivables
Schedule of breakdown of the portfolio by its credit quality indicators	2017 2016 A $ 1,237,283 $ 1,330,159 B 1,442,462 1,603,893 C 444,552 322,652 D 311,912 312,244 Total $ 3,436,209 $ 3,568,948

EQUIPMENT ON OPERATING LEASES (

EQUIPMENT ON OPERATING LEASES (Tables)	12 Months Ended
EQUIPMENT ON OPERATING LEASES (Tables)	Dec. 31, 2017
EQUIPMENT ON OPERATING LEASES
Summary of equipment on operating leases	2017 2016 Equipment on operating leases $ 2,139,099 $ 2,169,874 Accumulated depreciation (357,610) (311,431) Total equipment on operating leases, net $ 1,781,489 $ 1,858,443
Schedule of lease payments owed to the Company for equipment under non-cancelable operating leases	2018 $ 172,174 2019 107,326 2020 58,213 2021 28,502 2022 and thereafter 6,138 Total lease payments $ 372,353

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
GOODWILL AND INTANGIBLE ASSETS (Tables)	Dec. 31, 2017
GOODWILL AND INTANGIBLE ASSETS
Schedule of changes in the carrying amount of goodwill	2017 2016 Balance, beginning of year $ 108,715 $ 107,935 Foreign currency translation adjustment 1,873 780 Balance, end of year $ 110,588 $ 108,715
Schedule of the Company's intangible asset and related accumulated amortization for its software	2017 2016 Software $ 25,197 $ 23,583 Accumulated amortization (18,329) (16,217) Total software, net $ 6,868 $ 7,366

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
OTHER ASSETS (Tables)	Dec. 31, 2017
OTHER ASSETS
Schedule of components of other assets	2017 2016 Tax receivables $ 6,566 $ 452 Deferred tax assets 10,275 13,092 Derivative assets 10,144 5,666 Other current assets 7,396 6,537 Total other assets $ 34,381 $ 25,747

CREDIT FACILITIES AND DEBT (Tab

CREDIT FACILITIES AND DEBT (Tables)	12 Months Ended
CREDIT FACILITIES AND DEBT (Tables)	Dec. 31, 2017
Schedule of the Company's debt and credit facilities	2017 Current Maturities of Short-Term Long-Term Long-Term Maturity (1) Total Outstanding Outstanding Outstanding Available Committed Asset-Backed Facilities Retail - U.S. Sep 2019 $ 1,200,000 $ — $ 60,099 $ 160,301 $ 979,600 Retail - Canada Dec 2019 398,730 — 57,814 158,401 182,515 Wholesale VFN - U.S. Various 800,000 800,000 — — — Wholesale VFN - Canada Dec 2019 467,112 461,167 — — 5,945 2,865,842 117,913 318,702 Secured Debt Amortizing retail term ABS - N.A. Various 5,567,786 — — Other ABS financing - N.A. Various 54,275 — 45,937 8,338 — Unamortized issuance costs (17,507) — — (17,507) — 5,604,554 — — Unsecured Facilities Credit lines Various 300,000 300,000 — — — Revolving credit facilities Various 659,492 — — 159,492 500,000 959,492 300,000 — 159,492 500,000 Unsecured Debt Commercial paper Various 115,000 115,000 — — — Notes Various 3,100,000 — 600,000 — Hedging effects, discounts and unamortized issuance costs (26,601) (89) 607 (27,119) — 3,188,399 114,911 600,607 — Total credit facilities and debt $ $ $ $ $ (1) Maturity dates reflect maturities of the credit facility, which may be different than the maturities of the advances under the facility. 2016 Current Maturities of Short-Term Long-Term Long-Term Maturity (1) Total Outstanding Outstanding Outstanding Available Committed Asset-Backed Facilities Retail - U.S. Sep 2018 $ 1,200,000 $ — $ 142,462 $ 425,237 $ 632,301 Retail - Canada Dec 2018 371,476 — 74,645 251,427 45,404 Wholesale VFN - U.S. Various 900,000 900,000 — — — Wholesale VFN - Canada Dec 2018 435,184 435,184 — — — 2,906,660 1,335,184 217,107 676,664 677,705 Secured Debt Amortizing retail term ABS - N.A. Various 5,653,908 — 2,165,049 3,488,859 — Other ABS financing - N.A. Various 103,275 — 45,289 57,986 — Unamortized issuance costs (15,999) — — (15,999) — 5,741,184 — 2,210,338 3,530,846 — Unsecured Facilities Revolving credit facilities 2019 400,000 — — — 400,000 Unsecured Debt Notes Various 3,700,000 — 500,000 3,200,000 — Term loan 2018 100,000 — — 100,000 — Hedging effects, discounts and unamortized issuance costs (33,192) — — (33,192) — 3,766,808 — 500,000 3,266,808 — Total credit facilities and debt $ 12,814,652 $ 1,335,184 $ 2,927,445 $ 7,474,318 $ 1,077,705 (1) Maturity dates reflect maturities of the credit facility, which may be different than the maturities of the advances under the facility.
Summary of the minimum annual repayments of long-term debt	2019 $ 2,079,221 2020 1,923,925 2021 1,742,741 2022 562,796 2023 and thereafter 24,080 Total $ 6,332,763
Unsecured Debt
Schedule of the Company's debt and credit facilities	As of December 31, 2017, the Company’s outstanding unsecured senior notes were as follows: 3.625% notes, due 2018 $ 600,000 3.375% notes, due 2019 500,000 4.375% notes, due 2020 600,000 4.875% notes, due 2021 500,000 3.875% notes, due 2021 400,000 4.375% notes, due 2022 500,000 Hedging effects, discounts and unamortized issuance costs (26,512) Total $ 3,073,488

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2017
INCOME TAXES
Schedule of sources of income before taxes	2017 2016 2015 Domestic $ $ $ Foreign 81,712 88,051 78,684 Income before taxes $ $ $
Schedule of provision for income taxes	2017 2016 2015 Current income tax expense (benefit): Domestic $ 16,151 $ 38,845 $ 11,246 Foreign 17,711 17,692 19,877 Total current income tax expense 33,862 56,537 31,123 Deferred income tax expense (benefit): Domestic (83,647) 33,798 76,969 Foreign 2,737 3,969 1,149 Total deferred income tax expense (80,910) 37,767 78,118 Total tax provision $ (47,048) $ 94,304 $
Schedule of reconciliation of statutory and effective income tax rate	2017 2016 2015 Tax provision at statutory rate 35.0 % 35.0 % 35.0 % State taxes 5.9 4.7 4.0 Foreign taxes (8.5) (5.2) (4.8) Tax credits and incentives (0.6) (0.6) (0.5) Tax rate and legislative changes (54.5) — — Other (0.4) (0.4) (0.3) Total tax provision effective rate (23.1) % 33.5 % 33.4 %
Schedule of components of net deferred tax liability	2017 2016 Deferred tax assets: Pension, postretirement and post-employment benefits $ 1,986 $ 3,111 Marketing and sales incentive programs 39,836 60,364 Allowance for credit losses 18,539 30,606 Other accrued liabilities 471 3,641 Tax loss and tax credit carry forwards 1,892 712 Total deferred tax assets $ 62,724 $ 98,434 Deferred tax liability: Equipment on operating lease $ 268,129 $ 396,070 Deferred tax liability, net (1) $ $ (1) In the accompanying consolidated balance sheets, the US net deferred tax position in 2017 and 2016 is included in “Accounts payable and other accrued liabilities” while the Canadian net deferred tax position in 2017 and 2016 is included in “Other assets”.
Schedule of reconciliation of the gross amounts of tax contingencies at the beginning and end of the year	2017 2016 2015 Balance, beginning of year $ — $ — $ 8 Additions based on tax positions related to the current year — — — Reductions for tax positions of prior years — — — Settlements — — (8) Balance, end of year $ — $ — $ —

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
FINANCIAL INSTRUMENTS (Tables)	Dec. 31, 2017
FINANCIAL INSTRUMENTS
Schedule of fair values of derivatives in the consolidated balance sheets	2017 2016 Derivatives Designated as Hedging Instruments Other assets: Interest rate derivatives $ 4,113 $ 1,631 Accounts payable and other accrued liabilities: Interest rate derivatives $ 6,698 $ 5,646 Derivatives Not Designated as Hedging Instruments Other assets: Interest rate derivatives $ 4,638 $ 3,977 Foreign exchange contracts 1,393 58 Total $ 6,031 $ 4,035 Accounts payable and other accrued liabilities: Interest rate derivatives $ 4,638 $ 3,977 Foreign exchange contracts 325 1,183 Total $ 4,963 $ 5,160
Schedule of pre-tax gains (losses) on the consolidated statements of income related to the Company's derivatives	2017 2016 2015 Cash Flow Hedges Recognized in accumulated other comprehensive income (loss) (effective portion): Interest rate derivatives $ 2,797 $ 1,277 $ (3,063) Reclassified from accumulated other comprehensive income (loss) (effective portion): Interest rate derivatives - Interest expense to third parties (749) (694) (3,979) Not Designated as Hedges Foreign exchange contracts - Other expenses $ 1,155 $ 4,128 $ (329)
Schedule of assets and liabilities measured at fair value on a recurring basis	Level 2 2017 2016 Assets Interest rate derivatives $ 8,751 $ 5,608 Foreign exchange contracts 1,393 58 Total assets $ 10,144 $ 5,666 Liabilities Interest rate derivatives $ 11,336 $ 9,623 Foreign exchange contracts 325 1,183 Total liabilities $ 11,661 $ 10,806
Schedule of carrying amount and estimated fair value of assets and liabilities considered financial instruments	2017 2016 Carrying Estimated Carrying Estimated Amount Fair Value * Amount Fair Value * Receivables $ 10,461,733 $ 10,419,096 $ 10,882,070 $ 10,885,595 Long-term debt $ 6,332,763 $ 6,314,182 $ 7,474,318 $ 7,364,581 * Under the fair value hierarchy, receivables measurements are classified as Level 3 and long‑term debt measurements are classified as Level 2.

SEGMENT AND GEOGRAPHICAL INFO32

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)	12 Months Ended
SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)	Dec. 31, 2017
SEGMENT AND GEOGRAPHICAL INFORMATION
Summary of reportable segment information	2017 2016 2015 Revenues United States $ 756,210 $ 780,071 $ 762,790 Canada 187,107 170,825 170,342 Eliminations (4,385) (4,175) (4,052) Total $ 938,932 $ 946,721 $ 929,080 Interest expense United States $ 279,542 $ 269,560 $ 249,209 Canada 47,413 39,714 45,116 Eliminations (4,385) (4,175) (4,052) Total $ 322,570 $ 305,099 $ 290,273 Segment net income United States $ 189,225 $ 121,122 $ 159,942 Canada 61,264 66,390 57,657 Total $ 250,489 $ 187,512 $ 217,599 Depreciation and amortization United States $ 238,037 $ 208,942 $ 160,069 Canada 44,864 40,528 35,349 Total $ 282,901 $ 249,470 $ 195,418 Expenditures for equipment on operating leases United States $ 507,349 $ 555,219 $ 789,035 Canada 128,470 168,164 148,882 Total $ 635,819 $ 723,383 $ 937,917 Provision for credit losses United States $ 40,516 $ 35,867 $ 20,440 Canada 382 (5,021) 1,455 Total $ 40,898 $ 30,846 $ 21,895 2017 2016 2015 Segment assets United States $ 10,738,403 $ 12,016,606 $ 13,088,630 Canada 2,838,754 2,400,814 2,225,158 Eliminations (65,079) (374,161) (285,774) Total $ 13,512,078 $ 14,043,259 $ 15,028,014 Managed receivables United States $ 8,297,851 $ 9,082,365 $ 9,949,367 Canada 2,243,078 1,884,600 1,782,382 Total $ 10,540,929 $ 10,966,965 $ 11,731,749

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	12 Months Ended
RELATED-PARTY TRANSACTIONS (Tables)	Dec. 31, 2017
RELATED-PARTY TRANSACTIONS
Summary of the sources included in "Interest and other income from affiliates" in the accompanying consolidated statements of income	2017 2016 2015 Subsidy from CNH Industrial North America Retail $ 157,496 $ $ 193,008 Wholesale 166,426 156,654 151,960 Operating lease 68,987 63,955 Income from Iveco Argentina Wholesale factoring 5,199 — — Income from affiliated receivables CNH Industrial North America — 1,155 56 Other affiliates 150 — — Total interest and other income from affiliates $ 398,258 $ $ 408,979
Schedule of various accounts and notes receivable and debt with the affiliates	2017 2016 Rate Maturity Amount Rate Maturity Amount Affiliated receivables CNH Industrial America — $ 16,550 — $ CNH Industrial Canada Ltd. — 3,855 — Other affiliates — 12,540 — Total affiliated receivables $ 32,945 $ Affiliated debt CNH Industrial America $ 327,160 $ 132,851 CNH Industrial Canada Ltd. 118,642 — Total affiliated debt $ 445,802 $ 132,851

SUPPLEMENTAL CONDENSED CONSOL34

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2017
SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Schedule of condensed statements of comprehensive income	Condensed Statements of Comprehensive Income for the Year Ended December 31, 2017 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 16,206 $ 185,327 $ — $ 201,533 Interest income on wholesale notes — (1,107) 66,828 — 65,721 Interest and other income from affiliates 100,033 243,273 326,346 (271,394) 398,258 Rental income on operating leases — 197,859 53,750 — 251,609 Other income — 94,408 1,906 (74,503) 21,811 Total revenues 100,033 550,639 634,157 (345,897) 938,932 EXPENSES Interest expense: Interest expense to third parties 164,836 2,125 144,167 — 311,128 Interest expense to affiliates — 236,267 46,569 (271,394) 11,442 Total interest expense 164,836 238,392 190,736 (271,394) 322,570 Administrative and operating expenses: Fees charged by affiliates — 44,666 76,268 (74,503) 46,431 Provision for credit losses — 11,090 29,808 — 40,898 Depreciation of equipment on operating leases — 235,911 44,854 — 280,765 Other expenses — 33,176 11,651 — 44,827 Total administrative and operating expenses — 324,843 162,581 (74,503) 412,921 Total expenses 164,836 563,235 353,317 (345,897) 735,491 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (64,803) (12,596) 280,840 — 203,441 Income tax provision (benefit) (24,331) (148,033) 125,316 — (47,048) Equity in income of consolidated subsidiaries accounted for under the equity method 290,961 155,524 — (446,485) — NET INCOME 250,489 290,961 155,524 (446,485) 250,489 COMPREHENSIVE INCOME $ 294,462 $ 334,934 $ 192,936 $ (527,870) $ 294,462 Condensed Statements of Comprehensive Income for the Year Ended December 31, 2016 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 15,990 $ 195,516 $ — $ 211,506 Interest income on wholesale notes — (96) 69,006 — 68,910 Interest and other income from affiliates 97,254 232,020 324,262 (255,164) 398,372 Rental income on operating leases — 196,911 46,620 — 243,531 Other income — 103,422 2,837 (81,857) 24,402 Total revenues 97,254 548,247 638,241 (337,021) 946,721 EXPENSES Interest expense: Interest expense to third parties 162,264 6,209 129,408 — 297,881 Interest expense to affiliates — 226,544 35,838 (255,164) 7,218 Total interest expense 162,264 232,753 165,246 (255,164) 305,099 Administrative and operating expenses: Fees charged by affiliates — 43,469 83,613 (81,857) 45,225 Provision for credit losses — 9,879 20,967 — 30,846 Depreciation of equipment on operating leases — 206,924 40,514 — 247,438 Other expenses — 28,035 8,262 — 36,297 Total administrative and operating expenses — 288,307 153,356 (81,857) 359,806 Total expenses 162,264 521,060 318,602 (337,021) 664,905 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (65,010) 27,187 319,639 — 281,816 Income tax provision (benefit) (24,261) 10,204 108,361 — 94,304 Equity in income of consolidated subsidiaries accounted for under the equity method 228,261 211,278 — (439,539) — NET INCOME 187,512 228,261 211,278 (439,539) 187,512 COMPREHENSIVE INCOME $ 204,914 $ 245,663 $ 225,994 $ (471,657) $ 204,914 Condensed Statements of Comprehensive Income for the Year Ended December 31, 2015 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 7,242 $ 201,139 $ — $ 208,381 Interest income on wholesale notes — (1,221) 73,547 — 72,326 Interest and other income from affiliates 85,976 222,387 340,456 (239,840) 408,979 Rental income on operating leases — 168,943 45,244 — 214,187 Other income — 105,784 2,777 (83,354) 25,207 Total revenues 85,976 503,135 663,163 (323,194) 929,080 EXPENSES Interest expense: Interest expense to third parties 143,485 (2,468) 128,074 — 269,091 Interest expense to affiliates — 226,079 34,943 (239,840) 21,182 Total interest expense 143,485 223,611 163,017 (239,840) 290,273 Administrative and operating expenses: Fees charged by affiliates — 44,711 85,414 (83,354) 46,771 Provision for credit losses — 4,148 17,747 — 21,895 Depreciation of equipment on operating leases — 155,194 38,608 — 193,802 Other expenses 1 40,114 9,384 — 49,499 Total administrative and operating expenses 1 244,167 151,153 (83,354) 311,967 Total expenses 143,486 467,778 314,170 (323,194) 602,240 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (57,510) 35,357 348,993 — 326,840 Income tax provision (benefit) (22,180) 10,522 120,899 — 109,241 Equity in income of consolidated subsidiaries accounted for under the equity method 252,670 227,835 — (480,505) — NET INCOME 217,340 252,670 228,094 (480,505) 217,599 Net income attributed to noncontrolling interest — — (259) — (259) NET INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC $ 217,340 $ 252,670 $ 227,835 $ (480,505) $ 217,340 COMPREHENSIVE INCOME $ 105,730 $ 141,060 $ 132,062 $ (272,863) $ 105,989 Comprehensive income attributed to noncontrolling interest — — (259) — (259) COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC $ 105,730 $ 141,060 $ 131,803 $ (272,863) $ 105,730
Schedule of condensed balance sheets	Condensed Balance Sheets as of December 31, 2017 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 160,339 $ 66,607 $ — $ 226,946 Restricted cash — — 648,612 — 648,612 Receivables, less allowance for credit losses — 1,400,712 9,061,021 — 10,461,733 Affiliated accounts and notes receivable 2,518,121 1,958,720 2,060,589 (6,504,485) 32,945 Equipment on operating leases, net — 1,405,731 375,758 — 1,781,489 Equipment held for sale — 191,710 16,806 — 208,516 Investments in consolidated subsidiaries accounted for under the equity method 2,620,971 2,525,605 — (5,146,576) — Goodwill and intangible assets, net — 88,440 29,016 — 117,456 Other assets 7,548 4,432 26,466 (4,065) 34,381 TOTAL $ 5,146,640 $ 7,735,689 $ 12,284,875 $ (11,655,126) $ 13,512,078 LIABILITIES AND STOCKHOLDER’S EQUITY Liabilities: Short-term debt, including current maturities of long-term debt $ 1,015,520 $ 45,937 $ 3,556,007 $ — $ 4,617,464 Accounts payable and other accrued liabilities 283,445 2,807,195 1,160,573 (3,510,803) 740,410 Affiliated debt — 2,253,248 1,190,301 (2,997,747) 445,802 Long-term debt 2,472,036 8,338 3,852,389 — 6,332,763 Total liabilities 3,771,001 5,114,718 9,759,270 (6,508,550) 12,136,439 Stockholder’s equity 1,375,639 2,620,971 2,525,605 (5,146,576) 1,375,639 TOTAL $ 5,146,640 $ 7,735,689 $ 12,284,875 $ (11,655,126) $ 13,512,078 Condensed Balance Sheets as of December 31, 2016 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 151,553 $ 12,694 $ — $ 164,247 Restricted cash — 100 712,745 — 712,845 Receivables, less allowance for credit losses — 1,453,303 9,428,767 — 10,882,070 Affiliated accounts and notes receivable 3,138,443 2,293,055 1,878,093 (7,225,748) 83,843 Equipment on operating leases, net — 1,526,746 331,697 — 1,858,443 Equipment held for sale — 182,636 17,347 — 199,983 Investments in consolidated subsidiaries accounted for under the equity method 2,286,578 2,332,668 — (4,619,246) — Goodwill and intangible assets, net — 88,938 27,143 — 116,081 Other assets 3,870 (14,344) 40,517 (4,296) 25,747 TOTAL $ 5,428,891 $ 8,014,655 $ 12,449,003 $ (11,849,290) $ 14,043,259 LIABILITIES AND STOCKHOLDER’S EQUITY Liabilities: Short-term debt, including current maturities of long-term debt $ 500,000 $ 45,289 $ 3,717,340 $ — $ 4,262,629 Accounts payable and other accrued liabilities 295,365 2,688,323 1,132,462 (3,309,407) 806,743 Affiliated debt — 2,936,479 1,117,009 (3,920,637) 132,851 Long-term debt 3,266,808 57,986 4,149,524 — 7,474,318 Total liabilities 4,062,173 5,728,077 10,116,335 (7,230,044) 12,676,541 Stockholder’s equity 1,366,718 2,286,578 2,332,668 (4,619,246) 1,366,718 TOTAL $ 5,428,891 $ 8,014,655 $ 12,449,003 $ (11,849,290) $ 14,043,259
Schedule of condensed statements of cash flows	Condensed Statements of Cash Flows for the Year Ended December 31, 2017 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash from (used in) operating activities $ 564,252 $ 837,510 $ 82,469 $ (922,660) $ 561,571 CASH FLOWS FROM INVESTING ACTIVITIES: Cost of receivables acquired — (8,275,121) (9,406,275) 6,808,056 (10,873,340) Collections of receivables — 8,316,852 9,897,291 (6,808,286) 11,405,857 Change in restricted cash — 100 71,776 — 71,876 Purchase of equipment on operating leases, net — (136,711) (63,230) — (199,941) Change in property and equipment and software, net — (1,614) — — (1,614) Net cash from (used in) investing activities — (96,494) 499,562 (230) 402,838 CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany activity — (683,231) 48,874 922,890 288,533 Net change in indebtedness (279,252) (48,999) (576,992) — (905,243) Dividends paid to CNH Industrial America LLC (285,000) — — — (285,000) Net cash from (used in) financing activities (564,252) (732,230) (528,118) 922,890 (901,710) INCREASE IN CASH AND CASH EQUIVALENTS — 8,786 53,913 — 62,699 CASH AND CASH EQUIVALENTS: Beginning of year — 151,553 12,694 — 164,247 End of year $ — $ 160,339 $ 66,607 $ — $ 226,946 Condensed Statements of Cash Flows for the Year Ended December 31, 2016 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash from (used in) operating activities $ (102,001) $ (7,764) $ 594,950 $ 158,127 $ 643,312 CASH FLOWS FROM INVESTING ACTIVITIES: Cost of receivables acquired — (8,577,888) (9,076,389) 6,888,764 (10,765,513) Collections of receivables — 8,660,606 9,775,641 (6,889,105) 11,547,142 Change in restricted cash — — 86,176 — 86,176 Purchase of equipment on operating leases, net — (255,439) (105,992) — (361,431) Change in property and equipment and software, net — (887) (3) — (890) Net cash from (used in) investing activities — (173,608) 679,433 (341) 505,484 CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany activity — 172,351 224,700 (286,842) 110,209 Net change in indebtedness 392,001 (21,166) (1,477,741) — (1,106,906) Dividends paid to CNH Industrial America LLC (290,000) — (129,056) 129,056 (290,000) Net cash from (used in) financing activities 102,001 151,185 (1,382,097) (157,786) (1,286,697) DECREASE IN CASH AND CASH EQUIVALENTS — (30,187) (107,714) — (137,901) CASH AND CASH EQUIVALENTS: Beginning of year — 181,740 120,408 — 302,148 End of year $ — $ 151,553 $ 12,694 $ — $ 164,247 Condensed Statements of Cash Flows for the Year Ended December 31, 2015 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash from (used in) operating activities $ (126,019) $ 722,712 $ (367,316) $ 292,721 $ 522,098 CASH FLOWS FROM INVESTING ACTIVITIES: Cost of receivables acquired — (11,582,973) (10,723,276) 8,295,661 (14,010,588) Collections of receivables — 11,878,402 11,205,283 (8,295,272) 14,788,413 Change in restricted cash — — 41,489 — 41,489 Purchase of equipment on operating leases, net — (605,011) (15,779) — (620,790) Change in property and equipment and software, net — (1,702) — — (1,702) Net cash from (used in) investing activities — (311,284) 507,717 389 196,822 CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany activity — (556,700) 14,505 (293,110) (835,305) Net change in indebtedness 296,019 101,669 (96,175) — 301,513 Dividends paid to CNH Industrial America LLC (170,000) — — — (170,000) Preferred dividend paid to CNH Industrial Canada Ltd. — — (551) — (551) Redemption of preferred stock of subsidiary — — (60,416) — (60,416) Net cash from (used in) financing activities 126,019 (455,031) (142,637) (293,110) (764,759) DECREASE IN CASH AND CASH EQUIVALENTS — (43,603) (2,236) — (45,839) CASH AND CASH EQUIVALENTS: Beginning of year — 225,343 122,644 — 347,987 End of year $ — $ 181,740 $ 120,408 $ — $ 302,148

SUPPLEMENTAL QUARTERLY INFORM35

SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED) (Tables)	12 Months Ended
SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED) (Tables)	Dec. 31, 2017
SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED)
Schedule of supplemental quarterly information (unaudited)	For the Year Ended December 31, 2017 First Second Third Fourth Fiscal Quarter Quarter Quarter Quarter Year Revenues $ 232,834 $ 229,863 $ 234,889 $ 241,346 $ 938,932 Interest expense 74,728 78,797 79,772 89,273 322,570 Administrative and operating expenses 101,676 95,994 106,591 108,660 412,921 Income tax provision 18,037 16,885 14,387 (96,357) (47,048) Net income attributable to CNH Industrial Capital LLC $ 38,393 $ 38,187 $ 34,139 $ 139,770 $ 250,489 For the Year Ended December 31, 2016 First Second Third Fourth Fiscal Quarter Quarter Quarter Quarter Year Revenues $ $ $ $ $ Interest expense Administrative and operating expenses Income tax provision Net income attributable to CNH Industrial Capital LLC $ $ $ $ $

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Revenue Recognition
Delinquency period of accounts considered for recognition of income	120 days	120 days
Minimum account delinquency period for an account to be classified as past due	30 days	30 days
Goodwill and Intangible Assets
Impairment of goodwill	$ 0	$ 0
Amortization period of other intangible assets consisting of software	5 years

ACCUMULATED OTHER COMPREHENSI37

ACCUMULATED OTHER COMPREHENSIVE INCOME - Change in Components of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Changes in accumulated other comprehensive income by component
Beginning balance, gross		$ (146,566)	$ (164,609)
Tax asset (liability)		2,430	3,071
Beginning balance, net of tax	$ (144,136)	(161,538)
Other comprehensive income (loss) before reclassifications	43,779	16,557
Amounts reclassified from accumulated other comprehensive income (loss)	1,451	1,486
Tax effects	(1,257)	(641)
Total other comprehensive income (loss)	43,973	17,402	(111,610)
Ending balance	(100,163)	(144,136)	(161,538)
Currency Translation Adjustment
Changes in accumulated other comprehensive income by component
Beginning balance, gross		(139,585)	(155,341)
Beginning balance, net of tax	(139,585)	(155,341)
Other comprehensive income (loss) before reclassifications	40,868	15,756
Total other comprehensive income (loss)	40,868	15,756
Ending balance	(98,717)	(139,585)	(155,341)
Pension Liability
Changes in accumulated other comprehensive income by component
Beginning balance, gross		(5,768)	(6,084)
Tax asset (liability)		2,107	2,226
Beginning balance, net of tax	(3,661)	(3,858)
Other comprehensive income (loss) before reclassifications	114	(476)
Amounts reclassified from accumulated other comprehensive income (loss)	702	792
Tax effects	(317)	(119)
Total other comprehensive income (loss)	499	197
Ending balance	(3,162)	(3,661)	(3,858)
Unrealized (Losses) Gains on Derivatives
Changes in accumulated other comprehensive income by component
Beginning balance, gross		(1,213)	(3,184)
Tax asset (liability)		323	845
Beginning balance, net of tax	(890)	(2,339)
Other comprehensive income (loss) before reclassifications	2,797	1,277
Amounts reclassified from accumulated other comprehensive income (loss)	749	694
Tax effects	(940)	(522)
Total other comprehensive income (loss)	2,606	1,449
Ending balance	$ 1,716	$ (890)	$ (2,339)

ACCUMULATED OTHER COMPREHENSI38

ACCUMULATED OTHER COMPREHENSIVE INCOME - Reclassifications out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reclassifications out of accumulated other comprehensive income and the location on the consolidated statements of income
Interest expense to third parties									$ (311,128)	$ (297,881)	$ (269,091)
Income before taxes									203,441	281,816	326,840
Income tax benefit	$ 96,357	$ (14,387)	$ (16,885)	$ (18,037)	$ (22,822)	$ (20,995)	$ (24,143)	$ (26,344)	47,048	(94,304)	(109,241)
Net income	$ 139,770	$ 34,139	$ 38,187	$ 38,393	$ 38,533	$ 45,329	$ 46,429	$ 57,221	250,489	187,512	$ 217,340
Pension Liability \| Amounts Reclassified from AOCI
Reclassifications out of accumulated other comprehensive income and the location on the consolidated statements of income
Various line items individually insignificant									(702)	(792)
Income before taxes									(702)	(792)
Income tax benefit									273	298
Net income									(429)	(494)
Unrealized (Losses) Gains on Derivatives \| Amounts Reclassified from AOCI
Reclassifications out of accumulated other comprehensive income and the location on the consolidated statements of income
Interest expense to third parties									(749)	(694)
Income before taxes									(749)	(694)
Income tax benefit									199	184
Net income									$ (550)	$ (510)

RECEIVABLES - Summary of Receiv

RECEIVABLES - Summary of Receivables (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)item	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Receivables
Gross receivables	$ 10,540,929	$ 10,966,965	$ 11,731,749
Less: Allowance for credit losses	(79,196)	(84,895)	$ (94,724)	$ (95,542)
Total receivables, net	10,461,733	10,882,070
Restricted Receivables	8,799,295	9,392,526
Receivables directly or indirectly sold or transferred and available to pay the entity's creditors prior to all obligations of the SPE having been fulfilled	0
Maturities of receivables as of December 31, 2017, are as follows:
2,018	5,882,953
2,019	1,688,294
2,020	1,311,004
2,021	924,164
2022 and thereafter	$ 734,514
Number of portfolio segments in which allowance for credit losses is segregated \| item	3
Retail
Receivables
Gross receivables	$ 768,502	854,777
Restricted Receivables	$ 6,042,186	6,500,949
Retail \| Minimum
Receivables
Stated original maturities	2 years
Retail \| Maximum
Receivables
Stated original maturities	6 years
Wholesale
Receivables
Gross receivables	$ 679,100	677,371
Restricted Receivables	$ 2,757,109	2,891,577
Wholesale \| Maximum
Receivables
Stated original maturities	24 months
Interest-free periods	12 months
Wholesale factoring
Receivables
Gross receivables	$ 235,834
Finance lease receivables
Receivables
Gross receivables	$ 58,198	$ 42,291

RECEIVABLES - Receivables Secur

RECEIVABLES - Receivables Securitizations (Details) CAD in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)item	Dec. 31, 2016USD ($)	Dec. 31, 2017CAD	Dec. 31, 2017USD ($)
Receivables
Maximum borrowing capacity		$ 12,814,652		$ 12,618,287
Number of conduit facilities \| item	2
Number of portfolio segments in which allowance for credit losses is segregated \| item	3
Retail committed asset-backed facilities
Receivables
Asset-backed transactions securitized	$ 2,989,014	2,861,732
Outstanding amount of transactions securitized		$ 5,653,908		5,567,786
Remaining period of transactions securitized	31 months	30 months
Maximum borrowing capacity				1,598,730
Term of credit agreement	2 years
Conduit facilities, $500 million renewable in 2018
Receivables
Maximum borrowing capacity				500,000
Conduit facilities, $300 million renewable in 2018
Receivables
Maximum borrowing capacity				300,000
Conduit facilities renewable in December 2019 \| Canada
Receivables
Maximum borrowing capacity			CAD 585,750	$ 467,112

RECEIVABLES - Allowance for Cre

RECEIVABLES - Allowance for Credit Losses Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allowance for credit losses:
Beginning balance	$ 84,895	$ 94,724	$ 95,542
Charge-offs	(48,834)	(42,950)	(22,606)
Recoveries	4,065	3,750	2,582
Provision (benefit)	40,898	30,846	21,895
Foreign currency translation and other	(1,828)	(1,475)	(2,689)
Ending balance	79,196	84,895	94,724
Ending balance: individually evaluated for impairment	20,938	22,363	21,405
Ending balance: collectively evaluated for impairment	58,258	62,532	73,319
Receivables:
Ending balance	10,540,929	10,966,965	11,731,749
Ending balance: individually evaluated for impairment	82,719	75,042	176,599
Ending balance: collectively evaluated for impairment	10,458,210	10,891,923	11,555,150
Retail
Allowance for credit losses:
Beginning balance	78,047	88,405	88,697
Charge-offs	(46,460)	(42,949)	(22,250)
Recoveries	4,045	3,228	2,555
Provision (benefit)	39,842	30,915	21,812
Foreign currency translation and other	(1,864)	(1,552)	(2,409)
Ending balance	73,610	78,047	88,405
Ending balance: individually evaluated for impairment	18,018	18,113	18,220
Ending balance: collectively evaluated for impairment	55,592	59,934	70,185
Receivables:
Ending balance	6,868,886	7,398,017	8,081,866
Ending balance: individually evaluated for impairment	38,807	31,383	94,584
Ending balance: collectively evaluated for impairment	6,830,079	7,366,634	7,987,282
Wholesale
Allowance for credit losses:
Beginning balance	6,848	6,319	6,845
Charge-offs	(2,374)	(1)	(356)
Recoveries	20	522	27
Provision (benefit)	919	(69)	83
Foreign currency translation and other	31	77	(280)
Ending balance	5,444	6,848	6,319
Ending balance: individually evaluated for impairment	2,920	4,250	3,185
Ending balance: collectively evaluated for impairment	2,524	2,598	3,134
Receivables:
Ending balance	3,436,209	3,568,948	3,649,883
Ending balance: individually evaluated for impairment	43,912	43,659	82,015
Ending balance: collectively evaluated for impairment	3,392,297	$ 3,525,289	$ 3,567,868
Wholesale factoring
Allowance for credit losses:
Provision (benefit)	137
Foreign currency translation and other	5
Ending balance	142
Ending balance: collectively evaluated for impairment	142
Receivables:
Ending balance	235,834
Ending balance: collectively evaluated for impairment	$ 235,834

RECEIVABLES - Breakdown of Rece

RECEIVABLES - Breakdown of Receivables by Credit Quality Indicators (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Financing receivable, recorded investment
Gross receivables	$ 10,540,929	$ 10,966,965	$ 11,731,749
Retail
Financing receivable, recorded investment
Gross receivables	6,868,886	7,398,017	8,081,866
Retail \| Titanium
Financing receivable, recorded investment
Gross receivables	3,734,313	4,117,736
Retail \| Platinum
Financing receivable, recorded investment
Gross receivables	2,002,791	2,045,684
Retail \| Gold
Financing receivable, recorded investment
Gross receivables	952,404	1,042,918
Retail \| Silver
Financing receivable, recorded investment
Gross receivables	146,051	157,170
Retail \| Bronze
Financing receivable, recorded investment
Gross receivables	33,327	34,509
Wholesale
Financing receivable, recorded investment
Gross receivables	3,436,209	3,568,948	$ 3,649,883
Wholesale \| Grade A
Financing receivable, recorded investment
Gross receivables	1,237,283	1,330,159
Wholesale \| Grade B
Financing receivable, recorded investment
Gross receivables	1,442,462	1,603,893
Wholesale \| Grade C
Financing receivable, recorded investment
Gross receivables	444,552	322,652
Wholesale \| Grade D
Financing receivable, recorded investment
Gross receivables	$ 311,912	$ 312,244

RECEIVABLES - Aging of Receivab

RECEIVABLES - Aging of Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Financing receivable, recorded investment
Total Receivables	$ 10,540,929	$ 10,966,965	$ 11,731,749
Minimum account delinquency period for an account to be classified as past due	30 days	30 days
Retail
Financing receivable, recorded investment
Total Past Due	$ 78,438	$ 77,290
Current	6,790,448	7,320,727
Total Receivables	6,868,886	7,398,017	8,081,866
Recorded Investment > 90 Days and Accruing	6,897	8,113
Retail \| 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	29,600	28,244
Retail \| 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	8,997	7,508
Retail \| Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	39,841	41,538
Retail \| United States
Financing receivable, recorded investment
Total Past Due	73,006	72,659
Current	5,532,329	6,146,129
Total Receivables	5,605,335	6,218,788
Recorded Investment > 90 Days and Accruing	6,232	7,377
Retail \| United States \| 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	27,590	25,416
Retail \| United States \| 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	8,412	6,743
Retail \| United States \| Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	37,004	40,500
Retail \| Canada
Financing receivable, recorded investment
Total Past Due	5,432	4,631
Current	1,258,119	1,174,598
Total Receivables	1,263,551	1,179,229
Recorded Investment > 90 Days and Accruing	665	736
Retail \| Canada \| 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	2,010	2,828
Retail \| Canada \| 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	585	765
Retail \| Canada \| Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	2,837	1,038
Wholesale
Financing receivable, recorded investment
Total Past Due	1,067	1,360
Current	3,435,142	3,567,588
Total Receivables	3,436,209	3,568,948	$ 3,649,883
Recorded Investment > 90 Days and Accruing	185
Wholesale \| 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	824	823
Wholesale \| 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	1	89
Wholesale \| Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	242	448
Wholesale \| United States
Financing receivable, recorded investment
Total Past Due	1,039	1,355
Current	2,691,477	2,862,222
Total Receivables	2,692,516	2,863,577
Recorded Investment > 90 Days and Accruing	179
Wholesale \| United States \| 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	802	823
Wholesale \| United States \| 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	1	88
Wholesale \| United States \| Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	236	444
Wholesale \| Canada
Financing receivable, recorded investment
Total Past Due	28	5
Current	743,665	705,366
Total Receivables	743,693	705,371
Recorded Investment > 90 Days and Accruing	6
Wholesale \| Canada \| 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	22
Wholesale \| Canada \| 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due		1
Wholesale \| Canada \| Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	6	$ 4
Wholesale factoring
Financing receivable, recorded investment
Total Past Due	7,042
Current	228,792
Total Receivables	235,834
Wholesale factoring \| 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	5,652
Wholesale factoring \| 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	$ 1,390

RECEIVABLES - Impaired Receivab

RECEIVABLES - Impaired Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Unpaid Principal Balance
Period considered for average recorded investment	13 months
Average Recorded Investment
Delinquency period of accounts considered for recognition of income	120 days	120 days
United States
Average Recorded Investment
Receivables on nonaccrual status	$ 84,499	$ 93,367
Canada
Average Recorded Investment
Receivables on nonaccrual status	2,538	325
Retail \| United States
Average Recorded Investment
Receivables on nonaccrual status	40,968	49,998
Retail \| Canada
Average Recorded Investment
Receivables on nonaccrual status	2,538	325
Wholesale \| United States
Average Recorded Investment
Receivables on nonaccrual status	43,531	43,369
Individually evaluated for impairment \| Retail
Recorded Investment
With an allowance recorded	38,807	31,383
Unpaid Principal Balance
With an allowance recorded	36,903	30,054
Related Allowance	18,018	18,113
Average Recorded Investment
With an allowance recorded	41,001	31,296
Individually evaluated for impairment \| Retail \| United States
Recorded Investment
With an allowance recorded	38,035	31,360
Unpaid Principal Balance
With an allowance recorded	36,187	30,031
Related Allowance	17,518	18,102
Average Recorded Investment
With an allowance recorded	39,917	31,268
Individually evaluated for impairment \| Retail \| Canada
Recorded Investment
With an allowance recorded	772	23
Unpaid Principal Balance
With an allowance recorded	716	23
Related Allowance	500	11
Average Recorded Investment
With an allowance recorded	1,084	28
Individually evaluated for impairment \| Wholesale
Recorded Investment
With an allowance recorded	43,912	43,659
Unpaid Principal Balance
With an allowance recorded	43,531	43,369
Related Allowance	2,920	4,250
Average Recorded Investment
With an allowance recorded	49,469	46,482
Individually evaluated for impairment \| Wholesale \| United States
Recorded Investment
With an allowance recorded	43,912	43,659
Unpaid Principal Balance
With an allowance recorded	43,531	43,369
Related Allowance	2,920	4,250
Average Recorded Investment
With an allowance recorded	$ 49,469	$ 46,482

RECEIVABLES - Troubled Debt Res

RECEIVABLES - Troubled Debt Restructuring of Receivables (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)item	Dec. 31, 2016USD ($)item
Troubled Debt Restructurings
Number of cases in which the court has not yet determined the concession \| item	423	420
Pre-modification value for cases in which the court has not yet determined the concession	$ 23,750	$ 23,862
Retail
Troubled Debt Restructurings
Number of cases in which the court has determined the concession \| item	272	238
Pre-modification value for cases in which the court has determined the concession	$ 8,583	$ 4,284
Post-modification value for cases in which the court has determined the concession	$ 7,710	$ 3,688

EQUIPMENT ON OPERATING LEASES46

EQUIPMENT ON OPERATING LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
EQUIPMENT ON OPERATING LEASES
Equipment on operating leases	$ 2,139,099	$ 2,169,874
Less accumulated depreciation	(357,610)	(311,431)
Equipment on operating leases, net	1,781,489	1,858,443
Depreciation expense	280,765	$ 247,438	$ 193,802
Lease payments owed to the company for equipment under non-cancelable operating leases
Deferred operating lease subsidy	117,288
2,018	172,174
2,019	107,326
2,020	58,213
2,021	28,502
2022 and thereafter	6,138
Total lease payments	$ 372,353

GOODWILL AND INTANGIBLE ASSET47

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Changes in the carrying amount of goodwill
Balance, beginning of year	$ 108,715	$ 107,935
Foreign currency translation adjustment	1,873	780
Balance, end of year	110,588	108,715	$ 107,935
Impairment of goodwill	0	0
Company's intangible asset and related accumulated amortization for its software
Software	25,197	23,583
Accumulated amortization	(18,329)	(16,217)
Software, net	6,868	7,366
Amortization expense	2,112	$ 1,998	$ 1,581
Estimated annual amortization expense
2,018	2,028
2,019	1,581
2,020	940
2,021	375
2,022	$ 100

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
OTHER ASSETS
Tax receivables	$ 6,566	$ 452
Deferred tax assets	10,275	13,092
Derivative assets	10,144	5,666
Other current assets	7,396	6,537
Total other assets	$ 34,381	$ 25,747

CREDIT FACILITIES AND DEBT (Det

CREDIT FACILITIES AND DEBT (Details) CAD in Thousands, $ in Thousands	Dec. 01, 2017USD ($)	Apr. 10, 2017USD ($)	Feb. 01, 2017USD ($)	Dec. 31, 2017USD ($)item	Dec. 31, 2017CAD	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Debt
Maximum borrowing capacity						$ 12,618,287	$ 12,814,652
Short-Term Outstanding						1,676,078	1,335,184
Current Maturities of Long-Term Outstanding						2,941,386	2,927,445
Long-term debt						6,332,763	7,474,318
Available						1,668,060	$ 1,077,705
Minimum annual repayments of long-term debt
2,019						2,079,221
2,020						1,923,925
2,021						1,742,741
2,022						562,796
2023 and thereafter						$ 24,080
Other disclosure
Weighted-average interest rate on total short-term debt outstanding (as a percent)					2.20%	2.20%	1.50%
Weighted- average interest rate on total long-term debt (as a percent)					2.60%	2.60%	2.40%
CNH Global
Support Agreement
Number of preceding fiscal quarters added to the current quarter used in calculating the consolidated fixed charges coverage ratio under support agreement \| item				3
Period of prior written notice				30 days
Long-term rated indebtedness outstanding						$ 0
CNH Global \| Minimum
Support Agreement
Consolidated fixed charges coverage ratio				1.05
Ownership percentage required to be maintained in the company				51.00%
Consolidated tangible net worth threshold				$ 50,000
Unsecured Facilities
Debt
Maximum borrowing capacity						959,492
Short-Term Outstanding						300,000
Long-term debt						159,492
Available						500,000
Uncommitted credit line
Debt
Maximum borrowing capacity						300,000
Short-Term Outstanding						300,000
Revolving credit facilities
Debt
Maximum borrowing capacity						659,492	$ 400,000
Long-term debt					CAD 200,000	159,492
Available						500,000	400,000
Unsecured facility maturing in June 2019, March 2020 and June 2020
Debt
Available						500,000
Committed Asset-Backed Facilities
Debt
Maximum borrowing capacity						2,865,842	2,906,660
Short-Term Outstanding						1,261,167	1,335,184
Current Maturities of Long-Term Outstanding						117,913	217,107
Long-term debt						318,702	676,664
Available						1,168,060	677,705
Committed Asset-Backed Facilities \| Maximum
Other disclosure
Maturity period of receivables				7 years
Retail \| Maximum
Debt
Maximum borrowing capacity						1,598,730
Retail \| United States
Debt
Maximum borrowing capacity						1,200,000	1,200,000
Current Maturities of Long-Term Outstanding						60,099	142,462
Long-term debt						160,301	425,237
Available						979,600	632,301
Retail \| Canada
Debt
Maximum borrowing capacity						398,730	371,476
Current Maturities of Long-Term Outstanding						57,814	74,645
Long-term debt						158,401	251,427
Available						182,515	45,404
Wholesale VFN \| United States
Debt
Maximum borrowing capacity						800,000	900,000
Short-Term Outstanding						800,000	900,000
Wholesale VFN \| Canada
Debt
Maximum borrowing capacity						467,112	435,184
Short-Term Outstanding						461,167	435,184
Available						5,945
Secured Debt
Debt
Maximum borrowing capacity						5,604,554	5,741,184
Current Maturities of Long-Term Outstanding						2,222,866	2,210,338
Long-term debt						3,381,688	3,530,846
Unamortized issuance costs						(17,507)	(15,999)
Amortizing Retail Term ABS
Debt
Maximum borrowing capacity						5,567,786	5,653,908
Current Maturities of Long-Term Outstanding						2,176,929	2,165,049
Long-term debt						3,390,857	3,488,859
Other ABS Financing
Debt
Maximum borrowing capacity						54,275	103,275
Current Maturities of Long-Term Outstanding						45,937	45,289
Long-term debt						8,338	57,986
Unsecured Debt
Debt
Maximum borrowing capacity						3,188,399	3,766,808
Short-Term Outstanding						114,911
Current Maturities of Long-Term Outstanding						600,607	500,000
Long-term debt						2,472,881	3,266,808
Hedging effects, discounts and unamortized issuance costs						(26,601)	(33,192)
Heding effects, discounts and unamortized issuance costs, short-term outstanding						(89)
Hedging effects, discounts and unamortized issuance costs, current maturities						607
Hedging effects, discounts and unamortized issuance costs, long-term						(27,119)
Commercial paper
Debt
Maximum borrowing capacity						115,000
Short-Term Outstanding						115,000
Notes
Debt
Maximum borrowing capacity						3,100,000	3,700,000
Current Maturities of Long-Term Outstanding						600,000	500,000
Long-term debt						2,500,000	3,200,000
Term loan
Debt
Maximum borrowing capacity							100,000
Long-term debt							$ 100,000
Unsecured Senior Notes
Debt
Debt amount						3,073,488
Hedging effects, discounts and unamortized issuance costs						(26,512)
3.250 % unsecured notes due 2017
Debt
Repayment of debt			$ 500,000
Other disclosure
Interest rate margin (as a percent)			3.25%
3.625% unsecured notes due 2018
Debt
Debt amount						$ 600,000
Other disclosure
Interest rate margin (as a percent)					3.625%	3.625%
3.375% unsecured notes due 2019
Debt
Debt amount						$ 500,000
Other disclosure
Interest rate margin (as a percent)					3.375%	3.375%
4.375% unsecured notes due 2020
Debt
Debt amount						$ 600,000
Other disclosure
Interest rate margin (as a percent)					4.375%	4.375%
4.875% unsecured notes due 2021
Debt
Debt amount						$ 500,000
Other disclosure
Interest rate margin (as a percent)					4.875%	4.875%
3.875% unsecured notes due 2021
Debt
Debt amount						$ 400,000
Other disclosure
Interest rate margin (as a percent)					3.875%	3.875%
4.375% unsecured notes due 2022
Debt
Debt amount						$ 500,000
Interest rate (as a percent)		4.375%
Other disclosure
Additional borrowing issued		$ 500,000
Interest rate margin (as a percent)					4.375%	4.375%
3.875% unsecured notes due 2018
Debt
Interest rate (as a percent)	3.875%
Amount of debt redeemed	$ 600,000
Redemption premium	$ 6,493

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Sources of income before taxes
Domestic									$ 121,729	$ 193,765	$ 248,156
Foreign									81,712	88,051	78,684
INCOME BEFORE TAXES									203,441	281,816	326,840
Current income tax expense (benefit):
Domestic									16,151	38,845	11,246
Foreign									17,711	17,692	19,877
Total current income tax expense									33,862	56,537	31,123
Deferred income tax expense (benefit):
Domestic									(83,647)	33,798	76,969
Foreign									2,737	3,969	1,149
Total deferred income tax expense									(80,910)	37,767	78,118
Total tax provision	$ (96,357)	$ 14,387	$ 16,885	$ 18,037	$ 22,822	$ 20,995	$ 24,143	$ 26,344	$ (47,048)	$ 94,304	$ 109,241
Reconciliation of statutory and effective income tax rate
Tax provision at statutory rate (as a percent)									35.00%	35.00%	35.00%
State taxes (as a percent)									5.90%	4.70%	4.00%
Foreign taxes (as a percent)									(8.50%)	(5.20%)	(4.80%)
Tax credits and incentives (as a percent)									(0.60%)	(0.60%)	(0.50%)
Tax rate and legislative changes (as a percent)									(54.50%)
Other (as a percent)									(0.40%)	(0.40%)	(0.30%)
Total tax provision effective rate (as a percent)									(23.10%)	33.50%	33.40%

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Components of net deferred tax assets
Pension, postretirement and post employment benefits	$ 1,986	$ 3,111
Marketing and sales incentive programs	39,836	60,364
Allowance for credit losses	18,539	30,606
Other accrued liabilities	471	3,641
Tax loss and tax credit carry forwards	1,892	712
Total deferred tax assets	62,724	98,434
Deferred tax liabilities:
Equipment on operating lease	268,129	396,070
Deferred tax liability, net	$ (205,405)	$ (297,636)

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Tax Contingencies and Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of the gross amounts of tax contingencies at the beginning and end of the year
Balance, beginning of year				$ 8
Settlements				(8)
Unrecognized tax benefits
Amount of unrecognized tax benefits that, if recognized, would affect the annual effective income tax rate		$ 0
Interest and penalties related to unrecognized tax benefits		0	$ 0	0
Expected future payment of interest and penalties accrued related to unrecognized tax benefits		$ 0	$ 0	$ 0
Income tax examinations
U.S. federal corporate income tax rate (as a percent)		35.00%	35.00%	35.00%
Estimated net tax benefit		$ 111,000
Undistributed earnings of non-U.S. subsidiaries		$ 0
Forecast
Income tax examinations
U.S. federal corporate income tax rate (as a percent)	21.00%

FINANCIAL INSTRUMENTS - Generia

FINANCIAL INSTRUMENTS - Generial Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Interest Rate Derivatives
Maximum length of time of interest rate derivative instruments designated in cash flow hedge relationships	52 months
After-tax losses deferred in accumulated other comprehensive income that will be recognized in interest expense over the next 12 months	$ (451)

FINANCIAL INSTRUMENTS - Fair Ma

FINANCIAL INSTRUMENTS - Fair Market Value of Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair market value of derivatives
Derivative assets designated as hedging instruments, classified in other assets	$ 4,113	$ 1,631
Derivative liabilities designated as hedging instruments, classified in accounts payable and other accrued liabilities	6,698	5,646
Interest rate derivatives, derivative assets not designated as hedging instruments, classified in other assets	4,638	3,977
Foreign exchange contracts, derivatives not designated as hedging instruments, classified in other assets	1,393	58
Derivative assets not designated as hedging instruments, classified in other assets	6,031	4,035
Interest rate derivatives, derivative not designated as hedging instruments, classified in accounts payable and other accrued liabilities	4,638	3,977
Foreign exchange contracts, derivatives not designated as hedging instruments, classified in accounts payable and other accrued liabilities	325	1,183
Derivative liabilities not designated as hedging instruments, classified in accounts payable and other accrued liabilities	4,963	5,160
Cash Flow Hedges, Recognized in accumulated other comprehensive income (loss) (effective portion), Interest rate derivatives	2,797	1,277	$ (3,063)
Cash Flow Hedges, Reclassified from accumulated other comprehensive Income (loss) (effective portion), Interest rate derivatives - Interest expense to third parties	(749)	(694)	(3,979)
Foreign exchange contracts, other expenses, not designated as hedges	1,155	4,128	$ (329)
Interest Rate Derivatives
Fair market value of derivatives
Total notional amount of interest rate derivatives	3,143,737	2,954,424
Thirteen-month average notional amounts of interest rate derivatives	$ 3,246,576	$ 3,099,006

FINANCIAL INSTRUMENTS - Items M

FINANCIAL INSTRUMENTS - Items Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Foreign exchange contracts	$ 1,393	$ 58
Liabilities
Foreign exchange contracts	325	1,183
Assets transferred between Level 1, Level 2 and Level 3	0	0
Liabilities transferred between Level 1, Level 2 and Level 3	0	0
Recurring \| Level 2
Assets
Interest rate derivatives	8,751	5,608
Foreign exchange contracts	1,393	58
Total assets	10,144	5,666
Liabilities
Interest rate derivatives	11,336	9,623
Foreign exchange contracts	325	1,183
Total liabilities	$ 11,661	$ 10,806

FINANCIAL INSTRUMENTS - Fair Va

FINANCIAL INSTRUMENTS - Fair Value on a Nonrecurring Basis and Other Financial Instruments (Details) - Equipment - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Impairment on assets held for sale	$ 5,646	$ 11,400	$ 28,893
(Gains) losses on assets held for sale	9,784	(1,690)	$ (4,783)
Non recurring basis \| Level 3
Assets
Equipment held for sale	$ 123,503	$ 155,473

FINANCIAL INSTRUMENTS - Carryin

FINANCIAL INSTRUMENTS - Carrying Amount and Estimated Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Financial Instruments Not Carried at Fair Value
Receivables	$ 10,461,733	$ 10,882,070
Long-term debt	6,332,763	7,474,318
Carrying Amount
Financial Instruments Not Carried at Fair Value
Receivables	10,461,733	10,882,070
Long-term debt	6,332,763	7,474,318
Estimated Fair Value
Financial Instruments Not Carried at Fair Value
Receivables	10,419,096	10,885,595
Long-term debt	$ 6,314,182	$ 7,364,581

SEGMENT AND GEOGRAPHICAL INFO58

SEGMENT AND GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment And Geographical Information
Revenues	$ 241,346	$ 234,889	$ 229,863	$ 232,834	$ 235,184	$ 236,980	$ 240,639	$ 233,918	$ 938,932	$ 946,721	$ 929,080
Interest expense	89,273	79,772	78,797	74,728	76,711	77,358	79,059	71,971	322,570	305,099	290,273
Segment net income									250,489	187,512	217,599
Net income	139,770	$ 34,139	$ 38,187	$ 38,393	38,533	$ 45,329	$ 46,429	$ 57,221	250,489	187,512	217,340
Depreciation and amortization									282,901	249,470	195,418
Expenditures for equipment on operating leases									635,819	723,383	937,917
Provision (benefit) for credit losses									40,898	30,846	21,895
Additional disclosures
Segment assets	13,512,078				14,043,259				13,512,078	14,043,259	15,028,014
Managed receivables	10,540,929				10,966,965				10,540,929	10,966,965	11,731,749
Eliminations.
Segment And Geographical Information
Revenues									(4,385)	(4,175)	(4,052)
Interest expense									(4,385)	(4,175)	(4,052)
Additional disclosures
Segment assets	(65,079)				(374,161)				(65,079)	(374,161)	(285,774)
United States
Segment And Geographical Information
Segment net income									189,225	121,122	159,942
Depreciation and amortization									238,037	208,942	160,069
Expenditures for equipment on operating leases									507,349	555,219	789,035
Provision (benefit) for credit losses									40,516	35,867	20,440
Additional disclosures
Managed receivables	8,297,851				9,082,365				8,297,851	9,082,365	9,949,367
United States \| Operating segment
Segment And Geographical Information
Revenues									756,210	780,071	762,790
Interest expense									279,542	269,560	249,209
Additional disclosures
Segment assets	10,738,403				12,016,606				10,738,403	12,016,606	13,088,630
Canada
Segment And Geographical Information
Segment net income									61,264	66,390	57,657
Depreciation and amortization									44,864	40,528	35,349
Expenditures for equipment on operating leases									128,470	168,164	148,882
Provision (benefit) for credit losses									382	(5,021)	1,455
Additional disclosures
Managed receivables	2,243,078				1,884,600				2,243,078	1,884,600	1,782,382
Canada \| Operating segment
Segment And Geographical Information
Revenues									187,107	170,825	170,342
Interest expense									47,413	39,714	45,116
Additional disclosures
Segment assets	$ 2,838,754				$ 2,400,814				$ 2,838,754	$ 2,400,814	$ 2,225,158

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) CAD in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2015CAD	Mar. 31, 2015USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
RELATED-PARTY TRANSACTIONS
Total interest and other income from affiliates			$ 398,258	$ 398,372	$ 408,979
Affiliated receivables			32,945	83,843
Affiliated debt			445,802	132,851
Other information
Tax receivable due from related party			3,513
Accounts payable and other accrued liabilities payable to related parties			60,070	3,792
Interest expense to related affiliates			11,442	7,218	21,182
Fees charged by affiliates			46,431	45,225	46,771
Gross receivables			10,540,929	10,966,965	11,731,749
Preferred stock redemption amount					60,416
Dividends paid to CNH Industrial Canada Ltd.					551
Wholesale
Other information
Gross receivables			679,100	677,371
CNH Industrial North America
RELATED-PARTY TRANSACTIONS
Retail			157,496	170,425	193,008
Wholesale			166,426	156,654	151,960
Operating lease			68,987	70,138	63,955
Lending funds				1,155	$ 56
CNH Industrial America
RELATED-PARTY TRANSACTIONS
Affiliated receivables			$ 16,550	$ 49,526
Rate of accounts and notes receivable (as a percent)			0.00%	0.00%
Rate of debt due (as a percent)			4.31%	3.62%
Affiliated debt			$ 327,160	$ 132,851
CNH Industrial Canada Ltd.
RELATED-PARTY TRANSACTIONS
Affiliated receivables			$ 3,855	$ 21,398
Rate of accounts and notes receivable (as a percent)			0.00%	0.00%
Rate of debt due (as a percent)			4.19%
Affiliated debt			$ 118,642
CNH Industrial Canada Ltd. \| CNH Industrial Capital Canada
Other information
Preferred stock redemption amount	CAD 76,618	$ 60,416
Reference rate for dividends	1-year LIBOR	1-year LIBOR
Margin on reference rate for dividends (as a percent)	1.20%	1.20%
Dividends paid to CNH Industrial Canada Ltd.	CAD 668	$ 551
Iveco Argentina
RELATED-PARTY TRANSACTIONS
Wholesale factoring			5,199
Other affiliates
RELATED-PARTY TRANSACTIONS
Lending funds			150
Affiliated receivables			$ 12,540	$ 12,919
Rate of accounts and notes receivable (as a percent)			0.00%	0.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - Wholesale and dealer financing $ in Thousands	Dec. 31, 2017USD ($)
Commitments
Total credit limit	$ 6,325,738
Utilized	$ 3,331,045

SUPPLEMENTAL CONDENSED CONSOL61

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
REVENUES
Interest income on retail notes and finance leases									$ 201,533	$ 211,506	$ 208,381
Interest income on wholesale notes									65,721	68,910	72,326
Interest and other income from affiliates									398,258	398,372	408,979
Rental income on operating leases									251,609	243,531	214,187
Other income									21,811	24,402	25,207
Total revenues	$ 241,346	$ 234,889	$ 229,863	$ 232,834	$ 235,184	$ 236,980	$ 240,639	$ 233,918	938,932	946,721	929,080
Interest expense:
Interest expense to third parties									311,128	297,881	269,091
Interest expense to affiliates									11,442	7,218	21,182
Total interest expense	89,273	79,772	78,797	74,728	76,711	77,358	79,059	71,971	322,570	305,099	290,273
Administrative and operating expenses:
Fees charged by affiliates									46,431	45,225	46,771
Provision (benefit) for credit losses									40,898	30,846	21,895
Depreciation of equipment on operating leases									280,765	247,438	193,802
Other expenses									44,827	36,297	49,499
Total administrative and operating expenses	108,660	106,591	95,994	101,676	97,118	93,298	91,008	78,382	412,921	359,806	311,967
Total expenses									735,491	664,905	602,240
Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method									203,441	281,816	326,840
Income tax provision (benefit)	(96,357)	14,387	16,885	18,037	22,822	20,995	24,143	26,344	(47,048)	94,304	109,241
NET INCOME									250,489	187,512	217,599
Net income attributed to noncontrolling interest											(259)
NET INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC	$ 139,770	$ 34,139	$ 38,187	$ 38,393	$ 38,533	$ 45,329	$ 46,429	$ 57,221	250,489	187,512	217,340
COMPREHENSIVE INCOME									294,462	204,914	105,989
Comprehensive income attributed to noncontrolling interest											(259)
COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC									294,462	204,914	105,730
Eliminations
REVENUES
Interest and other income from affiliates									(271,394)	(255,164)	(239,840)
Other income									(74,503)	(81,857)	(83,354)
Total revenues									(345,897)	(337,021)	(323,194)
Interest expense:
Interest expense to affiliates									(271,394)	(255,164)	(239,840)
Total interest expense									(271,394)	(255,164)	(239,840)
Administrative and operating expenses:
Fees charged by affiliates									(74,503)	(81,857)	(83,354)
Total administrative and operating expenses									(74,503)	(81,857)	(83,354)
Total expenses									(345,897)	(337,021)	(323,194)
Equity in income of consolidated subsidiaries accounted for under the equity method									(446,485)	(439,539)	(480,505)
NET INCOME											(480,505)
NET INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC									(446,485)	(439,539)	(480,505)
COMPREHENSIVE INCOME											(272,863)
COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC									(527,870)	(471,657)	(272,863)
CNH Industrial Capital LLC
REVENUES
Interest and other income from affiliates									100,033	97,254	85,976
Total revenues									100,033	97,254	85,976
Interest expense:
Interest expense to third parties									164,836	162,264	143,485
Total interest expense									164,836	162,264	143,485
Administrative and operating expenses:
Other expenses											1
Total administrative and operating expenses											1
Total expenses									164,836	162,264	143,486
Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method									(64,803)	(65,010)	(57,510)
Income tax provision (benefit)									(24,331)	(24,261)	(22,180)
Equity in income of consolidated subsidiaries accounted for under the equity method									290,961	228,261	252,670
NET INCOME											217,340
NET INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC									250,489	187,512	217,340
COMPREHENSIVE INCOME											105,730
COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC									294,462	204,914	105,730
Guarantor Entities
REVENUES
Interest income on retail notes and finance leases									16,206	15,990	7,242
Interest income on wholesale notes									(1,107)	(96)	(1,221)
Interest and other income from affiliates									243,273	232,020	222,387
Rental income on operating leases									197,859	196,911	168,943
Other income									94,408	103,422	105,784
Total revenues									550,639	548,247	503,135
Interest expense:
Interest expense to third parties									2,125	6,209	(2,468)
Interest expense to affiliates									236,267	226,544	226,079
Total interest expense									238,392	232,753	223,611
Administrative and operating expenses:
Fees charged by affiliates									44,666	43,469	44,711
Provision (benefit) for credit losses									11,090	9,879	4,148
Depreciation of equipment on operating leases									235,911	206,924	155,194
Other expenses									33,176	28,035	40,114
Total administrative and operating expenses									324,843	288,307	244,167
Total expenses									563,235	521,060	467,778
Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method									(12,596)	27,187	35,357
Income tax provision (benefit)									(148,033)	10,204	10,522
Equity in income of consolidated subsidiaries accounted for under the equity method									155,524	211,278	227,835
NET INCOME											252,670
NET INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC									290,961	228,261	252,670
COMPREHENSIVE INCOME											141,060
COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC									$ 334,934	245,663	141,060
CNH Industrial Capital America LLC
Condensed Statements of Comprehensive Income
Ownership percentage	100.00%								100.00%
New Holland Credit Company LLC
Condensed Statements of Comprehensive Income
Ownership percentage	100.00%								100.00%
All Other Subsidiaries
REVENUES
Interest income on retail notes and finance leases									$ 185,327	195,516	201,139
Interest income on wholesale notes									66,828	69,006	73,547
Interest and other income from affiliates									326,346	324,262	340,456
Rental income on operating leases									53,750	46,620	45,244
Other income									1,906	2,837	2,777
Total revenues									634,157	638,241	663,163
Interest expense:
Interest expense to third parties									144,167	129,408	128,074
Interest expense to affiliates									46,569	35,838	34,943
Total interest expense									190,736	165,246	163,017
Administrative and operating expenses:
Fees charged by affiliates									76,268	83,613	85,414
Provision (benefit) for credit losses									29,808	20,967	17,747
Depreciation of equipment on operating leases									44,854	40,514	38,608
Other expenses									11,651	8,262	9,384
Total administrative and operating expenses									162,581	153,356	151,153
Total expenses									353,317	318,602	314,170
Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method									280,840	319,639	348,993
Income tax provision (benefit)									125,316	108,361	120,899
NET INCOME											228,094
Net income attributed to noncontrolling interest											(259)
NET INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC									155,524	211,278	227,835
COMPREHENSIVE INCOME											132,062
Comprehensive income attributed to noncontrolling interest											(259)
COMPREHENSIVE INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC									$ 192,936	$ 225,994	$ 131,803

SUPPLEMENTAL CONDENSED CONSOL62

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 226,946	$ 164,247	$ 302,148	$ 347,987
Restricted cash	648,612	712,845
Receivables, less allowance for credit losses	10,461,733	10,882,070
Affiliated accounts and notes receivable	32,945	83,843
Equipment on operating leases, net	1,781,489	1,858,443
Equipment held for sale	208,516	199,983
Goodwill and intangible assets, net	117,456	116,081
Other assets	34,381	25,747
TOTAL	13,512,078	14,043,259	15,028,014
Liabilities:
Short-term debt, including current maturities of long-term debt	4,617,464	4,262,629
Accounts payable and other accrued liabilities	740,410	806,743
Affiliated debt	445,802	132,851
Long-term debt	6,332,763	7,474,318
Total liabilities	12,136,439	12,676,541
Stockholder's equity	1,375,639	1,366,718	1,451,432	1,575,932
TOTAL	13,512,078	14,043,259
Eliminations
ASSETS
Affiliated accounts and notes receivable	(6,504,485)	(7,225,748)
Investments in consolidated subsidiaries accounted for under the equity method	(5,146,576)	(4,619,246)
Other assets	(4,065)	(4,296)
TOTAL	(11,655,126)	(11,849,290)
Liabilities:
Accounts payable and other accrued liabilities	(3,510,803)	(3,309,407)
Affiliated debt	(2,997,747)	(3,920,637)
Total liabilities	(6,508,550)	(7,230,044)
Stockholder's equity	(5,146,576)	(4,619,246)
TOTAL	(11,655,126)	(11,849,290)
CNH Industrial Capital LLC
ASSETS
Affiliated accounts and notes receivable	2,518,121	3,138,443
Investments in consolidated subsidiaries accounted for under the equity method	2,620,971	2,286,578
Other assets	7,548	3,870
TOTAL	5,146,640	5,428,891
Liabilities:
Short-term debt, including current maturities of long-term debt	1,015,520	500,000
Accounts payable and other accrued liabilities	283,445	295,365
Long-term debt	2,472,036	3,266,808
Total liabilities	3,771,001	4,062,173
Stockholder's equity	1,375,639	1,366,718
TOTAL	5,146,640	5,428,891
Guarantor Entities
ASSETS
Cash and cash equivalents	160,339	151,553	181,740	225,343
Restricted cash		100
Receivables, less allowance for credit losses	1,400,712	1,453,303
Affiliated accounts and notes receivable	1,958,720	2,293,055
Equipment on operating leases, net	1,405,731	1,526,746
Equipment held for sale	191,710	182,636
Investments in consolidated subsidiaries accounted for under the equity method	2,525,605	2,332,668
Goodwill and intangible assets, net	88,440	88,938
Other assets	4,432	(14,344)
TOTAL	7,735,689	8,014,655
Liabilities:
Short-term debt, including current maturities of long-term debt	45,937	45,289
Accounts payable and other accrued liabilities	2,807,195	2,688,323
Affiliated debt	2,253,248	2,936,479
Long-term debt	8,338	57,986
Total liabilities	5,114,718	5,728,077
Stockholder's equity	2,620,971	2,286,578
TOTAL	7,735,689	8,014,655
All Other Subsidiaries
ASSETS
Cash and cash equivalents	66,607	12,694	$ 120,408	$ 122,644
Restricted cash	648,612	712,745
Receivables, less allowance for credit losses	9,061,021	9,428,767
Affiliated accounts and notes receivable	2,060,589	1,878,093
Equipment on operating leases, net	375,758	331,697
Equipment held for sale	16,806	17,347
Goodwill and intangible assets, net	29,016	27,143
Other assets	26,466	40,517
TOTAL	12,284,875	12,449,003
Liabilities:
Short-term debt, including current maturities of long-term debt	3,556,007	3,717,340
Accounts payable and other accrued liabilities	1,160,573	1,132,462
Affiliated debt	1,190,301	1,117,009
Long-term debt	3,852,389	4,149,524
Total liabilities	9,759,270	10,116,335
Stockholder's equity	2,525,605	2,332,668
TOTAL	$ 12,284,875	$ 12,449,003

SUPPLEMENTAL CONDENSED CONSOL63

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash from (used in) operating activities	$ 561,571	$ 643,312	$ 522,098
CASH FLOWS FROM INVESTING ACTIVITIES:
Cost of receivables acquired	(10,873,340)	(10,765,513)	(14,010,588)
Collections of receivables	11,405,857	11,547,142	14,788,413
Change in restricted cash	71,876	86,176	41,489
Purchase of equipment on operating leases, net	(199,941)	(361,431)	(620,790)
Change in property and equipment and software, net	(1,614)	(890)	(1,702)
Net cash from (used in) investing activities	402,838	505,484	196,822
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany activity	288,533	110,209	(835,305)
Net change in indebtedness	(905,243)	(1,106,906)	301,513
Dividend paid to CNH Industrial America LLC	(285,000)	(290,000)	(170,000)
Preferred dividend paid to CNH Industrial Canada Ltd.			(551)
Redemption of preferred stock of subsidiary			(60,416)
Net cash from (used in) financing activities	(901,710)	(1,286,697)	(764,759)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	62,699	(137,901)	(45,839)
CASH AND CASH EQUIVALENTS
Beginning of year	164,247	302,148	347,987
End of year	226,946	164,247	302,148
Eliminations
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash from (used in) operating activities	(922,660)	158,127	292,721
CASH FLOWS FROM INVESTING ACTIVITIES:
Cost of receivables acquired	6,808,056	6,888,764	8,295,661
Collections of receivables	(6,808,286)	(6,889,105)	(8,295,272)
Net cash from (used in) investing activities	(230)	(341)	389
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany activity	922,890	(286,842)	(293,110)
Dividend paid to CNH Industrial America LLC		129,056
Net cash from (used in) financing activities	922,890	(157,786)	(293,110)
CNH Industrial Capital LLC
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash from (used in) operating activities	564,252	(102,001)	(126,019)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net change in indebtedness	(279,252)	392,001	296,019
Dividend paid to CNH Industrial America LLC	(285,000)	(290,000)	(170,000)
Net cash from (used in) financing activities	(564,252)	102,001	126,019
Guarantor Entities
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash from (used in) operating activities	837,510	(7,764)	722,712
CASH FLOWS FROM INVESTING ACTIVITIES:
Cost of receivables acquired	(8,275,121)	(8,577,888)	(11,582,973)
Collections of receivables	8,316,852	8,660,606	11,878,402
Change in restricted cash	100
Purchase of equipment on operating leases, net	(136,711)	(255,439)	(605,011)
Change in property and equipment and software, net	(1,614)	(887)	(1,702)
Net cash from (used in) investing activities	(96,494)	(173,608)	(311,284)
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany activity	(683,231)	172,351	(556,700)
Net change in indebtedness	(48,999)	(21,166)	101,669
Net cash from (used in) financing activities	(732,230)	151,185	(455,031)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	8,786	(30,187)	(43,603)
CASH AND CASH EQUIVALENTS
Beginning of year	151,553	181,740	225,343
End of year	160,339	151,553	181,740
All Other Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash from (used in) operating activities	82,469	594,950	(367,316)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cost of receivables acquired	(9,406,275)	(9,076,389)	(10,723,276)
Collections of receivables	9,897,291	9,775,641	11,205,283
Change in restricted cash	71,776	86,176	41,489
Purchase of equipment on operating leases, net	(63,230)	(105,992)	(15,779)
Change in property and equipment and software, net		(3)
Net cash from (used in) investing activities	499,562	679,433	507,717
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany activity	48,874	224,700	14,505
Net change in indebtedness	(576,992)	(1,477,741)	(96,175)
Dividend paid to CNH Industrial America LLC		(129,056)
Preferred dividend paid to CNH Industrial Canada Ltd.			(551)
Redemption of preferred stock of subsidiary			(60,416)
Net cash from (used in) financing activities	(528,118)	(1,382,097)	(142,637)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	53,913	(107,714)	(2,236)
CASH AND CASH EQUIVALENTS
Beginning of year	12,694	120,408	122,644
End of year	$ 66,607	$ 12,694	$ 120,408

SUPPLEMENTAL QUARTERLY INFORM64

SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SUPPLEMENTAL QUARTERLY INFORMATION (UNAUDITED)
Revenues	$ 241,346	$ 234,889	$ 229,863	$ 232,834	$ 235,184	$ 236,980	$ 240,639	$ 233,918	$ 938,932	$ 946,721	$ 929,080
Interest expense	89,273	79,772	78,797	74,728	76,711	77,358	79,059	71,971	322,570	305,099	290,273
Administrative and operating expenses	108,660	106,591	95,994	101,676	97,118	93,298	91,008	78,382	412,921	359,806	311,967
Income tax provision (benefit)	(96,357)	14,387	16,885	18,037	22,822	20,995	24,143	26,344	(47,048)	94,304	109,241
Net income attributed to noncontrolling interest											(259)
NET INCOME ATTRIBUTABLE TO CNH INDUSTRIAL CAPITAL LLC	$ 139,770	$ 34,139	$ 38,187	$ 38,393	$ 38,533	$ 45,329	$ 46,429	$ 57,221	$ 250,489	$ 187,512	$ 217,340