CNH Industrial Capital 10-Q 2 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2019shares
Document and Entity Information
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Entity Registrant Name	CNH INDUSTRIAL CAPITAL LLC
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	0
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001552493
Amendment Flag	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
REVENUES
Interest income on retail notes and finance leases	$ 57,112		$ 50,201		$ 112,580	$ 98,831
Interest income on wholesale notes	16,993		16,256		33,735	31,825
Interest and other income from affiliates	88,992		92,392		173,245	187,407
Rental income on operating leases	60,492		59,957		121,133	121,073
Other income	5,523		7,335		10,488	13,376
Total revenues	229,112		226,141		451,181	452,512
Interest expense:
Interest expense to third parties	84,989		76,020		170,205	152,856
Interest expense to affiliates	258		2,784		3,423	4,376
Total interest expense	85,247		78,804		173,628	157,232
Administrative and operating expenses:
Fees charged by affiliates	11,574		11,304		23,955	23,259
Provision for credit losses	13,097		4,295		20,066	16,110
Depreciation of equipment on operating leases	55,680		56,569		116,600	118,254
Other expenses	13,832		13,119		16,259	23,684
Total administrative and operating expenses	94,183		85,287		176,880	181,307
Total expenses	179,430		164,091		350,508	338,539
INCOME BEFORE TAXES	49,682		62,050		100,673	113,973
Income tax provision	11,898		14,422		23,678	26,542
NET INCOME	$ 37,784	$ 39,211	$ 47,628	$ 39,803	$ 76,995	$ 87,431

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$ 37,784	$ 39,211	$ 47,628	$ 39,803	$ 76,995	$ 87,431
Other comprehensive income (loss):
Foreign currency translation adjustment	9,244	8,690	(16,968)	(18,000)	17,934	(34,968)
Pension liability adjustment	89	88	89	106	177	195
Change in derivative financial instruments	(1,061)	$ (1,950)	(84)	$ 78	(3,011)	(6)
Total other comprehensive income (loss)	8,272		(16,963)		15,100	(34,779)
COMPREHENSIVE INCOME	$ 46,056		$ 30,665		$ 92,095	$ 52,652

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 97,644	$ 160,328
Restricted cash and cash equivalents	488,562	639,543
Receivables, less allowance for credit losses of $77,610 and $74,412, respectively	10,189,998	9,950,926
Affiliated accounts and notes receivable	12,666	43,389
Equipment on operating leases, net	1,724,634	1,724,217
Equipment held for sale	236,349	209,991
Goodwill	109,443	108,399
Other intangible assets, net	11,123	10,182
Other assets	78,431	84,937
TOTAL	12,948,850	12,931,912
Liabilities:
Short-term debt (including current maturities of long-term debt)	4,197,425	4,324,292
Accounts payable and other accrued liabilities	781,330	715,778
Affiliated debt	346,482	276,271
Long-term debt	6,300,528	6,259,839
Total liabilities	11,625,765	11,576,180
Commitments and contingent liabilities (Note 10)
Stockholder's equity:
Member's capital
Paid-in capital	843,901	843,643
Accumulated other comprehensive loss	(132,496)	(146,999)
Retained earnings	611,680	659,088
Total stockholder's equity	1,323,085	1,355,732
TOTAL	$ 12,948,850	$ 12,931,912

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Allowance for credit losses	$ 77,610	$ 74,412
Restricted cash and cash equivalents	488,562	639,543
Receivables, less allowance for credit losses of $51,447 and $54,124, respectively	10,189,998	9,950,926
TOTAL	12,948,850	12,931,912
Short-term debt (including current maturities of long-term debt)	4,197,425	4,324,292
Long-term debt	6,300,528	6,259,839
Total liabilities	11,625,765	11,576,180
Consolidated variable interest entities ("VIEs")
Allowance for credit losses	51,447	54,124
Restricted cash and cash equivalents	488,562	639,543
Receivables, less allowance for credit losses of $51,447 and $54,124, respectively	6,735,185	6,687,828
TOTAL	7,223,747	7,327,371
Short-term debt (including current maturities of long-term debt)	3,258,797	3,241,347
Long-term debt	3,337,045	3,442,286
Total liabilities	$ 6,595,842	$ 6,683,633

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 76,995	$ 87,431
Adjustments to reconcile net income to net cash from (used in) operating activities:
Depreciation on property and equipment and equipment on operating leases	116,601	118,259
Amortization of intangibles	974	1,072
Provision for credit losses	20,066	16,110
Deferred income tax (benefit) expense	28,910	(27,944)
Changes in components of working capital:
Change in affiliated accounts and notes receivables	30,737	(464,469)
Change in other assets and equipment held for sale	8,599	(10,011)
Change in accounts payable and other accrued liabilities	21,943	(23,089)
Net cash from (used in) operating activities	304,825	(302,641)
CASH FLOWS FROM INVESTING ACTIVITIES
Cost of receivables acquired	(5,539,579)	(5,411,526)
Collections of receivables	5,366,432	5,740,541
Purchase of equipment on operating leases	(347,175)	(241,788)
Proceeds from disposal of equipment on operating leases	220,817	222,126
Change in property and equipment and software, net	(1,916)	(2,816)
Net cash from (used in) investing activities	(301,421)	306,537
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of affiliated debt	653,140	670,886
Payment of affiliated debt	(583,222)	(506,385)
Proceeds from issuance of long-term debt	1,945,345	1,264,266
Payment of long-term debt	(1,958,759)	(2,110,344)
Change in short-term borrowings, net	(148,573)	489,271
Dividend paid to CNH Industrial America LLC	(125,000)	(40,000)
Net cash from (used in) financing activities	(217,069)	(232,306)
DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(213,665)	(228,410)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	799,871	875,558
End of period	586,206	647,148
CASH PAID DURING THE PERIOD FOR INTEREST	170,758	161,573
CASH PAID (RECEIVED) DURING THE PERIOD FOR TAXES	$ (37,895)	$ 33,037

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	Total
BALANCE at Dec. 31, 2017	$ 843,559	$ (100,163)	$ 632,243	$ 1,375,639
Increase (Decrease) in Stockholder's Equity
Net income			39,803	39,803
Dividend paid to CNH Industrial America LLC			(20,000)	(20,000)
Foreign currency translation adjustment		(18,000)		(18,000)
Stock compensation	167			167
Pension liability adjustment, net of tax		106		106
Change in derivative financial instruments, net of tax		78		78
BALANCE at Mar. 31, 2018	843,726	(117,979)	652,046	1,377,793
BALANCE at Dec. 31, 2017	843,559	(100,163)	632,243	1,375,639
Increase (Decrease) in Stockholder's Equity
Net income				87,431
Foreign currency translation adjustment				(34,968)
Pension liability adjustment, net of tax				195
Change in derivative financial instruments, net of tax				(6)
BALANCE at Jun. 30, 2018	843,822	(134,942)	679,674	1,388,554
BALANCE at Mar. 31, 2018	843,726	(117,979)	652,046	1,377,793
Increase (Decrease) in Stockholder's Equity
Net income			47,628	47,628
Dividend paid to CNH Industrial America LLC			(20,000)	(20,000)
Foreign currency translation adjustment		(16,968)		(16,968)
Stock compensation	96			96
Pension liability adjustment, net of tax		89		89
Change in derivative financial instruments, net of tax		(84)		(84)
BALANCE at Jun. 30, 2018	843,822	(134,942)	679,674	1,388,554
BALANCE at Dec. 31, 2018	843,643	(146,999)	659,088	1,355,732
Increase (Decrease) in Stockholder's Equity
Net income			39,211	39,211
Foreign currency translation adjustment		8,690		8,690
Stock compensation	164			164
Reclassification of certain tax effects		(597)	597
Pension liability adjustment, net of tax		88		88
Change in derivative financial instruments, net of tax		(1,950)		(1,950)
BALANCE at Mar. 31, 2019	843,807	(140,768)	698,896	1,401,935
BALANCE at Dec. 31, 2018	843,643	(146,999)	659,088	1,355,732
Increase (Decrease) in Stockholder's Equity
Net income				76,995
Foreign currency translation adjustment				17,934
Pension liability adjustment, net of tax				177
Change in derivative financial instruments, net of tax				(3,011)
BALANCE at Jun. 30, 2019	843,901	(132,496)	611,680	1,323,085
BALANCE at Mar. 31, 2019	843,807	(140,768)	698,896	1,401,935
Increase (Decrease) in Stockholder's Equity
Net income			37,784	37,784
Dividend paid to CNH Industrial America LLC			(125,000)	(125,000)
Foreign currency translation adjustment		9,244		9,244
Stock compensation	94			94
Pension liability adjustment, net of tax		89		89
Change in derivative financial instruments, net of tax		(1,061)		(1,061)
BALANCE at Jun. 30, 2019	$ 843,901	$ (132,496)	$ 611,680	$ 1,323,085

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2019
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 1: BASIS OF PRESENTATION 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. The Company has prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information, which should be read in conjunction with the audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2018. Certain financial information that is normally included in annual financial statements prepared in conformity with U.S. GAAP, which is not required for interim reporting purposes, has been condensed or omitted. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of our interim unaudited financial statements have been reflected. 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. 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.

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2019
NEW ACCOUNTING PRONOUNCEMENTS
NEW ACCOUNTING PRONOUNCEMENTS	NOTE 2: NEW ACCOUNTING PRONOUNCEMENTS New Accounting Pronouncements Adopted in 2019 In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which supersedes ASC 840, Leases (“ASC 840”). Subsequently, the FASB has issued additional ASUs, which further clarified this guidance. The ASU’s most prominent change is the requirement for lessees to recognize leased assets and liabilities classified as operating leases under the previous standard. The ASU did 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 requires disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. The Company adopted ASU 2016-02 on January 1, 2019, using the modified retrospective approach, without recasting prior periods. The adoption of this standard did not 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. Among other provisions, the new standard (1) requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported, (2) eliminates the separate measurement and reporting of hedge ineffectiveness and (3) permits an entity to recognize in earnings the initial value of an excluded component under a systematic and rational method over the life of the derivative instrument. The Company adopted ASU 2017-12 on January 1, 2019. The adoption of this standard did not have a material impact on its consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”), which amends ASC 220, Income Statement – Reporting Comprehensive Income . In December 2017, the U.S. government enacted new tax legislation (“U.S. Tax Reform”). Included in the provisions of U.S. Tax Reform was a reduction of the corporate income tax rate from 35 percent to 21 percent. U.S. GAAP requires that the remeasurement of deferred taxes to the new corporate tax rate occur in the period in which the legislation is enacted, with the deferred tax adjustment being recorded in the provision for income taxes, including items for which the tax effects were originally recorded in other comprehensive income (“OCI”). This treatment results in the items in OCI reflecting a disproportionate tax rate, a result often referred to as stranded tax effects. This ASU allowed a reclassification from accumulated OCI to retained earnings for stranded tax effects resulting from U.S. Tax Reform. The Company adopted ASU 2018-02 on January 1, 2019, and reclassified $597 of tax effects from “Accumulated other comprehensive loss” to “Retained earnings” within its consolidated balance sheet. In August 2018, the SEC adopted a final rule that amends certain disclosure requirements that have become duplicative, overlapping, or outdated in light of other SEC disclosure requirements, U.S. GAAP, or changes in the information environment. However, the guidance also added requirements for registrants to include in their interim financial statements a reconciliation of changes in stockholders’ equity for each period for which an income statement is required (both year-to-date and quarterly periods). The Company adopted the new interim disclosure requirement on January 1, 2019. The adoption of this standard did not have a material impact on its consolidated statements of changes in stockholder’s equity. New Accounting Pronouncements Not Yet Adopted 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 . In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses (“ASU 2018-19”), which supersedes existing ASU 2016-13. 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. ASU 2018-19 is effective for annual periods beginning after December 15, 2019. The Company has established a cross-functional implementation team. The team is currently evaluating data requirements and methodologies to assess the effect of the new guidance on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement , which amends ASC 820, Fair Value Measurement . This ASU modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The effective date is the first quarter of fiscal year 2021, with early adoption permitted for the removed disclosures and delayed adoption until fiscal year 2021 permitted for the new disclosures. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement (“ASU 2018-15”), which expands upon the guidance set forth in ASU 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement . ASU 2018-15 aligns the requirements for capitalization of implementation costs in a cloud computing service contract with those requirements for capitalization of implementation costs incurred for an internal-use software license. ASU 2018-15 may be applied prospectively from the date the guidance is first applied or retrospectively. ASU 2018-15 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years, and early adoption is permitted. The Company expects to adopt the ASU on a prospective basis. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. In October 2018, the FASB issued ASU No. 2018-17, Targeted Improvements to Related Party Guidance for Variable Interest Entities (“ASU 2018-17”), which expands the application of a specific private company alternative related to VIEs and changes the guidance for determining whether a decision-making fee is a variable interest. Under the new guidance, to determine whether decision-making fees represent a variable interest, an entity considers indirect interests held through related parties under common control on a proportionate basis, rather than in their entirety. ASU 2018-17 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years, and early adoption is permitted in any interim period. ASU 2018-17 is required to be applied retrospectively from the date the guidance is first applied. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	6 Months Ended
	Jun. 30, 2019
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 three months ended June 30, 2019: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability on Derivatives Total Beginning balance, gross $ (138,036) $ (3,953) $ 372 $ (141,617) Tax asset — 947 (98) 849 Beginning balance, net of tax (138,036) (3,006) 274 (140,768) Other comprehensive income (loss) before reclassifications 9,244 (112) (1,328) 7,804 Amounts reclassified from accumulated other comprehensive income (loss) — 229 (115) 114 Tax effects — (28) 382 354 Net current-period other comprehensive income (loss) 9,244 89 (1,061) 8,272 Total $ (128,792) $ (2,917) $ (787) $ (132,496) The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the six months ended June 30, 2019: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability on Derivatives Total Beginning balance, gross $ (146,726) $ (4,070) $ 3,025 $ (147,771) Tax asset — 1,573 (801) 772 Beginning balance, net of tax (146,726) (2,497) 2,224 (146,999) Other comprehensive income (loss) before reclassifications 17,934 (223) (3,739) 13,972 Amounts reclassified from accumulated other comprehensive income (loss) — 457 (357) 100 Tax effects — (57) 1,085 1,028 Net current-period other comprehensive income (loss) 17,934 177 (3,011) 15,100 Reclassification of stranded tax effects — (597) — (597) Total $ (128,792) $ (2,917) $ (787) $ (132,496) The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the three months ended June 30, 2018: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability Derivatives Total Beginning balance, gross $ (116,717) $ (4,811) $ 2,439 $ (119,089) Tax asset — 1,755 (645) 1,110 Beginning balance, net of tax (116,717) (3,056) 1,794 (117,979) Other comprehensive income (loss) before reclassifications (16,968) (37) (33) (17,038) Amounts reclassified from accumulated other comprehensive income (loss) — 155 (81) 74 Tax effects — (29) 30 1 Net current-period other comprehensive income (loss) (16,968) 89 (84) (16,963) Total $ (133,685) $ (2,967) $ 1,710 $ (134,942) The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the six months ended June 30, 2018: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability Derivatives Total Beginning balance, gross $ (98,717) $ (4,952) $ 2,333 $ (101,336) Tax asset — 1,790 (617) 1,173 Beginning balance, net of tax (98,717) (3,162) 1,716 (100,163) Other comprehensive income (loss) before reclassifications (34,968) (72) (83) (35,123) Amounts reclassified from accumulated other comprehensive income (loss) — 331 75 406 Tax effects — (64) 2 (62) Net current-period other comprehensive income (loss) (34,968) 195 (6) (34,779) Total $ (133,685) $ (2,967) $ 1,710 $ (134,942) The reclassifications out of AOCI and the location on the consolidated statements of income for the three and six months ended June 30, 2019 and 2018 are as follows: Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Affected Line Item Amortization of defined benefit pension items: $ (229) $ (155) $ (457) $ (331) Various line items individually insignificant (229) (155) (457) (331) Income before taxes 55 38 111 82 Income tax benefit $ (174) $ (117) $ (346) $ (249) Net of tax Unrealized losses on derivatives: $ 115 $ 81 $ 357 $ (75) Interest expense to third parties 115 81 357 Income before taxes (30) (21) (94) 20 Income tax benefit $ 85 $ 60 $ 263 $ (55) Net of tax

RECEIVABLES

RECEIVABLES	6 Months Ended
	Jun. 30, 2019
RECEIVABLES
RECEIVABLES	NOTE 4: RECEIVABLES A summary of receivables included in the consolidated balance sheets as of June 30, 2019 and December 31, 2018 is as follows: June 30, December 31, 2019 2018 Retail $ 618,207 $ 753,388 Wholesale 862,353 747,191 Wholesale factoring 84,474 — Finance lease 71,169 63,936 Restricted receivables 8,631,405 8,460,823 Gross receivables 10,267,608 10,025,338 Less: Allowance for credit losses (77,610) (74,412) Total receivables, net $ 10,189,998 $ 9,950,926 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 June 30, 2019 and December 31, 2018: June 30, December 31, 2019 2018 Retail $ 5,675,562 $ 5,623,730 Wholesale 2,955,843 2,837,093 Total restricted receivables $ 8,631,405 $ 8,460,823 Within the U.S. retail receivables securitization programs, qualifying retail receivables are sold to bankruptcy remote SPEs. In turn, these SPEs either establish separate trusts to which the receivables are transferred in exchange for proceeds from asset-backed securities issued by the trusts or pledge the receivables as collateral in exchange for proceeds from a committed asset-backed facility. 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. With regard to the wholesale receivable securitization programs, the Company sells eligible receivables on a revolving basis to structured master trust facilities, which are bankruptcy-remote SPEs. 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. Allowance for Credit Losses The allowance for credit losses is the Company’s estimate of losses for 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. 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. 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 S.A. (“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 three months ended June 30, 2019 is as follows: Retail Wholesale Wholesale Total Allowance for credit losses: Beginning balance $ 65,637 $ 6,535 $ 56 $ 72,228 Charge-offs (9,189) — — (9,189) Recoveries 1,369 3 — 1,372 Provision 12,410 683 4 13,097 Foreign currency translation and other 84 18 — 102 Ending balance $ 70,311 $ 7,239 $ 60 $ 77,610 Allowance for credit losses activity for the six months ended June 30, 2019 is as follows: Retail Wholesale Wholesale Total Allowance for credit losses: Beginning balance $ 66,944 $ 7,468 $ — $ 74,412 Charge-offs (16,566) (2,165) — (18,731) Recoveries 1,676 9 — 1,685 Provision 18,106 1,900 60 20,066 Foreign currency translation and other 151 27 — 178 Ending balance $ 70,311 $ 7,239 $ 60 $ 77,610 Ending balance: individually evaluated for impairment $ 22,833 $ 3,300 $ — $ 26,133 Ending balance: collectively evaluated for impairment $ 47,478 $ 3,939 $ 60 $ 51,477 Receivables: Ending balance $ 6,364,938 $ 3,818,196 $ 84,474 $ 10,267,608 Ending balance: individually evaluated for impairment $ 43,050 $ 4,108 $ — $ 47,158 Ending balance: collectively evaluated for impairment $ 6,321,888 $ 3,814,088 $ 84,474 $ 10,220,450 Allowance for credit losses activity for the three months ended June 30, 2018 is as follows: Wholesale Retail Wholesale Factoring Total Allowance for credit losses: Beginning balance $ 75,721 $ 5,238 $ 121 $ 81,080 Charge-offs (9,757) — — (9,757) Recoveries 1,138 6 — 1,144 Provision (benefit) 3,112 1,250 (67) 4,295 Foreign currency translation and other 102 (8) (4) 90 Ending balance $ 70,316 $ 6,486 $ 50 $ 76,852 Allowance for credit losses activity for the six months ended June 30, 2018 is as follows: Wholesale Retail Wholesale Factoring Total Allowance for credit losses: Beginning balance $ 73,610 $ 5,444 $ 142 $ 79,196 Charge-offs (20,267) (187) — (20,454) Recoveries 2,147 64 — 2,211 Provision (benefit) 15,007 1,187 (84) 16,110 Foreign currency translation and other (181) (22) (8) (211) Ending balance $ 70,316 $ 6,486 $ 50 $ 76,852 Ending balance: individually evaluated for impairment $ 15,659 $ 3,935 $ — $ 19,594 Ending balance: collectively evaluated for impairment $ 54,657 $ 2,551 $ 50 $ 57,258 Receivables: Ending balance $ 6,503,831 $ 3,451,677 $ 83,638 $ 10,039,146 Ending balance: individually evaluated for impairment $ 31,702 $ 29,710 $ — $ 61,412 Ending balance: collectively evaluated for impairment $ 6,472,129 $ 3,421,967 $ 83,638 $ 9,977,734 Allowance for credit losses activity for the year ended December 31, 2018 is as follows: Retail Wholesale Total Allowance for credit losses: Beginning balance $ 73,610 $ 5,586 $ 79,196 Charge-offs (39,375) (1,567) (40,942) Recoveries 4,702 71 4,773 Provision 28,277 3,422 31,699 Foreign currency translation and other (270) (44) (314) Ending balance $ 66,944 $ 7,468 $ 74,412 Ending balance: individually evaluated for impairment $ 15,801 $ 4,825 $ 20,626 Ending balance: collectively evaluated for impairment $ 51,143 $ 2,643 $ 53,786 Receivables: Ending balance $ 6,441,054 $ 3,584,284 $ 10,025,338 Ending balance: individually evaluated for impairment $ 31,148 $ 24,513 $ 55,661 Ending balance: collectively evaluated for impairment $ 6,409,906 $ 3,559,771 $ 9,969,677 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 loss or collection effort. Platinum — Customers from whom the Company expects minimal, if any, loss or collection effort. Gold, Silver, Bronze — Customers defined as those with the potential for loss and collection effort. A breakdown of the retail portfolio by the customer’s risk grade at the time of origination as of June 30, 2019 and December 31, 2018 is as follows: June 30, December 31, 2019 2018 Titanium $ 3,252,856 $ 3,367,239 Platinum 1,942,086 1,942,784 Gold 986,654 943,816 Silver 147,094 152,338 Bronze 36,248 34,877 Total $ 6,364,938 $ 6,441,054 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 June 30, 2019 and December 31, 2018 is as follows: June 30, December 31, 2019 2018 A $ 1,618,562 $ 1,582,179 B 1,389,577 1,292,331 C 667,015 527,735 D 143,042 182,039 Total $ 3,818,196 $ 3,584,284 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 June 30, 2019 is as follows: 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 $ 18,343 $ 8,467 $ 26,862 $ 53,672 $ 5,126,981 $ 5,180,653 $ 3,197 Canada $ 2,295 $ 2,117 $ 1,509 $ 5,921 $ 1,178,364 $ 1,184,285 $ 552 Wholesale United States $ 453 $ 101 $ 810 $ 1,364 $ 2,917,630 $ 2,918,994 $ 13 Canada $ 159 $ 54 $ — $ 213 $ 898,989 $ 899,202 $ — Wholesale Factoring $ — $ — $ — $ — $ 84,474 $ 84,474 $ — Total Retail $ 20,638 $ 10,584 $ 28,371 $ 59,593 $ 6,305,345 $ 6,364,938 $ 3,749 Wholesale $ 612 $ 155 $ 810 $ 1,577 $ 3,816,619 $ 3,818,196 $ 13 Wholesale factoring $ — $ — $ — $ — $ 84,474 $ 84,474 $ — The aging of receivables as of December 31, 2018 is as follows: 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 $ 19,318 $ 6,372 $ 24,772 $ 50,462 $ 5,239,777 $ 5,290,239 $ 4,573 Canada $ 1,398 $ 510 $ 2,326 $ 4,234 $ 1,146,581 $ 1,150,815 $ 911 Wholesale United States $ 484 $ 10 $ 1,368 $ 1,862 $ 2,788,655 $ 2,790,517 $ 387 Canada $ 3 $ — $ 436 $ 439 $ 793,328 $ 793,767 $ 1 Total Retail $ 20,716 $ 6,882 $ 27,098 $ 54,696 $ 6,386,358 $ 6,441,054 $ 5,484 Wholesale $ 487 $ 10 $ 1,804 $ 2,301 $ 3,581,983 $ 3,584,284 $ 388 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 June 30, 2019 and December 31, 2018, 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 seven-month average and thirteen-month average, respectively) are as follows: June 30, 2019 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment Retail United States $ 41,211 $ 39,608 $ 21,888 $ 43,336 Canada $ 1,839 $ 1,841 $ 945 $ 1,935 Wholesale United States $ 4,108 $ 3,861 $ 3,300 $ 6,138 Total Retail $ 43,050 $ 41,449 $ 22,833 $ 45,271 Wholesale $ 4,108 $ 3,861 $ 3,300 $ 6,138 December 31, 2018 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment Retail United States $ 30,959 $ 29,783 $ 15,347 $ 32,787 Canada $ 189 $ 180 $ 454 $ 248 Wholesale United States $ 24,513 $ 22,985 $ 4,825 $ 27,269 Total Retail $ 31,148 $ 29,963 $ 15,801 $ 33,035 Wholesale $ 24,513 $ 22,985 $ 4,825 $ 27,269 As of June 30, 2019 and December 31, 2018, the Company’s impaired receivables individually evaluated for impairment without an allowance were immaterial. Interest income recognized on impaired receivables for the three and six months ended June 30, 2019 and 2018 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 June 30, 2019 and December 31, 2018 are as follows: June 30, 2019 December 31, 2018 Retail Wholesale Total Retail Wholesale Total United States $ 32,608 $ 3,861 $ 36,469 $ 27,069 $ 22,985 $ 50,054 Canada $ 1,011 $ — $ 1,011 $ 1,428 $ — $ 1,428 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 that is 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 the 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 June 30, 2019, 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 $10,216 and the post-modification value was $9,214. Additionally, the Company had 381 accounts with a balance of $16,336 undergoing bankruptcy proceedings where a concession has not yet been determined. As of June 30, 2018, the Company had 288 retail and finance lease contracts classified as TDRs where a court has determined the concession. The pre-modification value of these contracts was $9,624 and the post-modification value was $8,742. Additionally, the Company had 377 accounts with a balance of $20,262 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 June 30, 2019 and 2018. As of June 30, 2019 and 2018, the Company’s wholesale TDRs were immaterial.

EQUIPMENT ON OPERATING LEASES

EQUIPMENT ON OPERATING LEASES	6 Months Ended
	Jun. 30, 2019
EQUIPMENT ON OPERATING LEASES
EQUIPMENT ON OPERATING LEASES	NOTE 5: EQUIPMENT ON OPERATING LEASES Lease payments owed to the Company for equipment under non-cancelable operating leases (excluding deferred operating lease subsidy of $112,020) as of June 30, 2019 are as follows: 2019 $ 87,740 2020 165,591 2021 105,826 2022 36,240 2023 and thereafter 12,107 Total lease payments $ 407,504

CREDIT FACILITIES AND DEBT

CREDIT FACILITIES AND DEBT	6 Months Ended
	Jun. 30, 2019
CREDIT FACILITIES AND DEBT
CREDIT FACILITIES AND DEBT	NOTE 6: CREDIT FACILITIES AND DEBT On May 22, 2019, the Company, through a bankruptcy-remote trust, issued $751,140 of amortizing asset-backed notes secured by U.S. retail receivables. On June 25, 2019, the Company, through a trust, issued C$415,953 ($310,946) of amortizing asset-backed notes secured by Canadian retail receivables. As of June 30, 2019, the Company had a fully-drawn uncommitted credit line totaling $50,000, which expires in July 2020. Committed unsecured facilities with banks as of June 30, 2019 totaled $843,188. These credit facilities, which are eligible for renewal at various future dates, are used primarily for working capital and other general corporate purposes. As of June 30, 2019, the Company had $443,188 outstanding under these credit facilities. Included in the remaining available credit commitments is $390,000 maintained primarily to provide backup liquidity for commercial paper borrowings.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2019
INCOME TAXES
INCOME TAXES	NOTE 7: INCOME TAXES The effective tax rates for the three months ended June 30, 2019 and 2018 were 23.9% and 23.2%, respectively. The effective tax rate was 23.5% for the six-month period ended June 30, 2019, compared to 23.3% for the same period in 2018. The effective tax rates were slightly higher than the U.S. federal income tax rate primarily due to state and provincial income taxes, the impact of which was partly offset by certain income tax credits.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2019
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS	NOTE 8: FINANCIAL INSTRUMENTS The Company may elect to measure financial instruments and certain other items at fair value. This fair value option would 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 has not elected the fair value measurement option for eligible items. Fair-Value Hierarchy The hierarchy of valuation techniques for financial instruments is 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 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 — 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 use 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 enter into derivative or other financial instruments for speculative purposes. The credit and market risk related to derivatives is reduced through diversification among various counterparties, utilizing mandatory termination clauses and/or collateral support agreements. Derivative instruments are generally classified as Level 2 in 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 as cash flow hedges are being used by the Company to mitigate the risk of rising interest rates related to existing debt and anticipated issuance of fixed-rate debt in future periods. Gains and losses on these instruments 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. As of June 30, 2019, 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 48 months. As of June 30, 2019, 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 $(421). The Company also enters into offsetting 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. Unrealized and realized gains and losses resulting from fair value changes in these instruments are recognized directly in income and were insignificant for the three and six months ended June 30, 2019 and 2018. All of the Company’s interest rate derivatives as of June 30, 2019 and December 31, 2018 are considered Level 2. The fair market value of these derivatives is calculated using market data input and can be compared to actively traded derivatives. The total notional amount of the Company’s interest rate derivatives was $2,809,628 and $2,960,191 at June 30, 2019 and December 31, 2018, respectively. The seven-month average notional amounts for the six months ended June 30, 2019 and 2018 were $3,004,828 and $2,887,445, 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 June 30, 2019 and December 31, 2018 in the consolidated balance sheets are recorded as follows: June 30, December 31, 2019 2018 Derivatives Designated as Hedging Instruments Other assets: Interest rate derivatives $ 38,388 $ 15,422 Accounts payable and other accrued liabilities: Interest rate derivatives $ 3,526 $ 8,107 Derivatives Not Designated as Hedging Instruments Other assets: Interest rate derivatives $ 806 $ 1,157 Foreign exchange contracts — 86 Total $ 806 $ 1,243 Accounts payable and other accrued liabilities: Interest rate derivatives $ 806 $ 1,157 Foreign exchange contracts 2,951 — Total $ 3,757 $ 1,157 Pre-tax gains (losses) on the consolidated statements of income and comprehensive income related to the Company’s derivatives for the three and six months ended June 30, 2019 and 2018 are recorded in the following accounts: Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Cash Flow Hedges Recognized in accumulated other comprehensive income (loss) (effective portion): Interest rate derivatives $ (1,328) $ (33) $ (3,739) $ (83) Reclassified from accumulated other comprehensive income (loss) (effective portion): Interest rate derivatives—Interest expense to third parties 115 81 357 (75) Not Designated as Hedges Foreign exchange contracts—Other expenses $ 3,463 $ $ 3,193 $ 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 June 30, 2019 and December 31, 2018, all of which are measured as Level 2: June 30, December 31, 2019 2018 Assets Interest rate derivatives $ 39,194 $ 16,579 Foreign exchange contracts — 86 Total assets $ 39,194 $ 16,665 Liabilities Interest rate derivatives $ 4,332 $ 9,264 Foreign exchange contracts 2,951 — Total liabilities $ 7,283 $ 9,264 There were no transfers between Level 1, Level 2 and Level 3 hierarchy levels during the periods presented. Fair Value of Other Financial Instruments The carrying amount of cash and cash equivalents, restricted cash and cash equivalents, 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 and cash equivalents 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 June 30, 2019 and December 31, 2018 are as follows: June 30, 2019 December 31, 2018 Carrying Estimated Carrying Estimated Amount Fair Value * Amount Fair Value * Receivables $ 10,189,998 $ 10,109,802 $ 9,950,926 $ 9,589,920 Long-term debt $ 6,300,528 $ 6,322,186 $ 6,259,839 $ 6,149,778 ______________ * Under the fair value hierarchy, receivables measurements are classified as Level 3 and long‑term debt measurements are classified as Level 2. Receivables The fair value of receivables was determined by discounting the estimated future payments using a discount rate which includes an estimate for credit risk. Long-term debt The fair values of long-term debt were based on current market quotes for identical or similar borrowings and credit risk.

GEOGRAPHICAL INFORMATION

GEOGRAPHICAL INFORMATION	6 Months Ended
	Jun. 30, 2019
GEOGRAPHICAL INFORMATION
GEOGRAPHICAL INFORMATION	NOTE 9: GEOGRAPHICAL INFORMATION A summary of the Company’s geographical information is as follows: Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Revenues United States $ 183,870 $ 175,694 $ 361,649 $ 352,197 Canada 47,903 52,851 93,508 104,580 Eliminations (2,661) (2,404) (3,976) (4,265) Total $ 229,112 $ 226,141 $ 451,181 $ 452,512 Interest expense United States $ 70,923 $ 67,112 $ 144,359 $ 133,956 Canada 16,985 14,096 33,245 27,541 Eliminations (2,661) (2,404) (3,976) (4,265) Total $ 85,247 $ 78,804 $ 173,628 $ 157,232 Net income United States $ 25,247 $ 30,705 $ 54,015 $ 53,639 Canada 12,537 16,923 22,980 33,792 Total $ 37,784 $ 47,628 $ 76,995 $ 87,431 Depreciation and amortization United States $ 45,511 $ 45,987 $ 95,902 $ 96,701 Canada 10,642 11,130 21,673 22,630 Total $ 56,153 $ 57,117 $ 117,575 $ 119,331 Expenditures for equipment on operating leases United States $ 133,803 $ 106,161 $ 279,584 $ 183,306 Canada 37,863 33,022 67,591 58,482 Total $ 171,666 $ 139,183 $ 347,175 $ 241,788 Provision for credit losses United States $ 12,364 $ 3,509 $ 18,060 $ 14,814 Canada 733 786 2,006 1,296 Total $ 13,097 $ 4,295 $ 20,066 $ 16,110 As of As of June 30, December 31, 2019 2018 Total assets United States $ 10,328,274 $ 10,482,805 Canada 2,717,460 2,511,839 Eliminations (96,884) (62,732) Total $ 12,948,850 $ 12,931,912 Managed receivables United States $ 8,099,647 $ 8,080,756 Canada 2,167,961 1,944,582 Total $ 10,267,608 $ 10,025,338

RELATED - PARTY TRANSACTIONS

RELATED - PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2019
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS	NOTE 10: 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 for the three and six months ended June 30, 2019 and 2018 is as follows: Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Subsidy from CNH Industrial North America Retail $ 40,317 $ 37,081 $ 79,513 $ 76,497 Wholesale 32,370 34,767 62,380 68,850 Operating lease 15,059 15,411 30,065 31,006 Income from Iveco Argentina Wholesale factoring 1,206 4,983 1,206 10,292 Income from affiliated receivables CNH Industrial North America 40 150 81 762 Total interest and other income from affiliates $ 88,992 $ 92,392 $ 173,245 $ 187,407 Interest expense to affiliates was $258 and $2,784, respectively, for the three months ended June 30, 2019 and 2018 and $3,423 and $4,376, respectively, for the six months ended June 30, 2019 and 2018. Fees charged by affiliates were $11,574 and $11,304, respectively, for the three months ended June 30, 2019 and 2018, and $23,955 and $23,259, respectively, for the six months ended June 30, 2019 and 2018, and represents payroll and other human resource services CNH Industrial America performs on behalf of the Company. As of June 30, 2019 and December 31, 2018, the Company had various accounts and notes receivable and debt with the following affiliates: June 30, December 31, 2019 2018 Affiliated receivables CNH Industrial America $ — $ CNH Industrial Canada Ltd. 356 Other affiliates 12,310 Total affiliated receivables $ 12,666 $ Affiliated debt CNH Industrial America $ 339,109 $ CNH Industrial Canada Ltd. 7,373 176,816 Total affiliated debt $ 346,482 $ Included in “Other Assets” in the accompanying balance sheet were tax receivables due from related parties of $39,174 as of December 31, 2018. Accounts payable and other accrued liabilities, including tax payables, of $55,803 and $4,740 were payable to related parties as of June 30, 2019 and December 31, 2018, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2019
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 11: 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. Guarantees The Company provides payment guarantees on the financial debt of various foreign financial services subsidiaries of CNHI for approximately $30,000. The guarantees are in effect for the term of the underlying funding facilities. Commitments The Company has various agreements to extend credit for the wholesale and dealer financing managed portfolio. At June 30, 2019, the total credit limit available was $5,997,972, of which $3,776,302 was utilized.

SUPPLEMENTAL CONDENSED CONSOLID

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION	6 Months Ended
	Jun. 30, 2019
SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION
SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION	NOTE 12: 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 June 30, 2019 and December 31, 2018 and for the three and six months ended June 30, 2019 and 2018. The condensed consolidating financial information reflects investments in consolidated subsidiaries under the equity method of accounting. Condensed Statements of Comprehensive Income for the Three Months Ended June 30, 2019 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 7,708 $ 49,404 $ — $ 57,112 Interest income on wholesale notes — (276) 17,269 — 16,993 Interest and other income from affiliates 15,482 52,420 36,572 (15,482) 88,992 Rental income on operating leases — 47,253 13,239 — 60,492 Other income — 21,172 652 (16,301) 5,523 Total revenues 15,482 128,277 117,136 (31,783) 229,112 EXPENSES Interest expense: Interest expense to third parties 52,749 (16,733) 48,973 — 84,989 Interest expense to affiliates — 12,120 3,620 (15,482) 258 Total interest expense 52,749 (4,613) 52,593 (15,482) 85,247 Administrative and operating expenses: Fees charged by affiliates — 11,131 16,744 (16,301) 11,574 Provision for credit losses — 5,366 7,731 — 13,097 Depreciation of equipment on operating leases — 45,038 10,642 — 55,680 Other expenses 6 11,083 2,743 — 13,832 Total administrative and operating expenses 6 72,618 37,860 (16,301) 94,183 Total expenses 52,755 68,005 90,453 (31,783) 179,430 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (37,273) 60,272 26,683 — 49,682 Income tax provision (benefit) (9,100) 14,832 6,166 — 11,898 Equity in income of consolidated subsidiaries accounted for under the equity method 65,957 20,517 — (86,474) — NET INCOME $ 37,784 $ 65,957 $ 20,517 $ (86,474) $ 37,784 COMPREHENSIVE INCOME $ 46,056 $ 74,229 $ 27,633 $ (101,862) $ 46,056 Condensed Statements of Comprehensive Income for the Six Months Ended June 30, 2019 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 13,631 $ 98,949 $ — $ 112,580 Interest income on wholesale notes — (534) 34,269 — 33,735 Interest and other income from affiliates 31,448 102,509 70,736 (31,448) 173,245 Rental income on operating leases — 94,256 26,877 — 121,133 Other income — 42,027 1,173 (32,712) 10,488 Total revenues 31,448 251,889 232,004 (64,160) 451,181 EXPENSES Interest expense: Interest expense to third parties 100,226 (28,086) 98,065 — 170,205 Interest expense to affiliates — 57,643 (22,772) (31,448) 3,423 Total interest expense 100,226 29,557 75,293 (31,448) 173,628 Administrative and operating expenses: Fees charged by affiliates — 22,993 33,674 (32,712) 23,955 Provision for credit losses — 8,732 11,334 — 20,066 Depreciation of equipment on operating leases — 94,928 21,672 — 116,600 Other expenses 12 10,357 5,890 — 16,259 Total administrative and operating expenses 12 137,010 72,570 (32,712) 176,880 Total expenses 100,238 166,567 147,863 (64,160) 350,508 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (68,790) 85,322 84,141 — 100,673 Income tax provision (benefit) (16,796) 21,064 19,410 — 23,678 Equity in income of consolidated subsidiaries accounted for under the equity method 128,989 64,731 — (193,720) — NET INCOME $ 76,995 $ 128,989 $ 64,731 $ (193,720) $ 76,995 COMPREHENSIVE INCOME $ 92,095 $ 144,089 $ 76,907 $ (220,996) $ 92,095 Condensed Balance Sheets as of June 30, 2019 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 62,177 $ 35,467 $ — $ 97,644 Restricted cash and cash equivalents — — 488,562 — 488,562 Receivables, less allowance for credit losses — 1,513,793 8,676,205 — 10,189,998 Affiliated accounts and notes receivable 2,120,366 2,440,827 2,409,913 (6,958,440) 12,666 Equipment on operating leases, net — 1,353,878 370,756 — 1,724,634 Equipment held for sale — 216,716 19,633 — 236,349 Investments in consolidated subsidiaries accounted for under the equity method 2,940,396 2,515,729 — (5,456,125) — Goodwill and intangible assets, net — 92,695 27,871 — 120,566 Other assets 9,102 51,735 21,161 (3,567) 78,431 TOTAL $ 5,069,864 $ 8,247,550 $ 12,049,568 $ (12,418,132) $ 12,948,850 LIABILITIES AND STOCKHOLDER’S EQUITY Liabilities: Short-term debt, including current maturities of long-term debt $ 938,628 $ — $ 3,258,797 $ — $ 4,197,425 Accounts payable and other accrued liabilities 287,773 3,232,811 1,365,429 (4,104,683) 781,330 Affiliated debt — 2,074,343 1,129,463 (2,857,324) 346,482 Long-term debt 2,520,378 — 3,780,150 — 6,300,528 Total liabilities 3,746,779 5,307,154 9,533,839 (6,962,007) 11,625,765 Stockholder’s equity 1,323,085 2,940,396 2,515,729 (5,456,125) 1,323,085 TOTAL $ 5,069,864 $ 8,247,550 $ 12,049,568 $ (12,418,132) $ 12,948,850 Condensed Statements of Cash Flows for the Six Months Ended June 30, 2019 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash from (used in) operating activities $ 141,062 $ 78,565 $ 39,839 $ 45,359 $ 304,825 CASH FLOWS FROM INVESTING ACTIVITIES: Cost of receivables acquired — (4,272,656) (4,926,232) 3,659,309 (5,539,579) Collections of receivables — 4,222,643 4,802,932 (3,659,143) 5,366,432 Purchase of equipment on operating leases, net — (115,394) (10,964) — (126,358) Change in property and equipment and software, net — (1,916) — — (1,916) Net cash from (used in) investing activities — (167,323) (134,264) 166 (301,421) CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany activity — 32,417 83,026 (45,525) 69,918 Net change in indebtedness (16,062) 10 (145,935) — (161,987) Dividends paid to CNH Industrial America LLC (125,000) — — — (125,000) Net cash from (used in) financing activities (141,062) 32,427 (62,909) (45,525) (217,069) DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH — (56,331) (157,334) — (213,665) CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Beginning of period — 118,508 681,363 — 799,871 End of period $ — $ 62,177 $ 524,029 $ — $ 586,206 Condensed Statements of Comprehensive Income for the Three Months Ended June 30, 2018 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 1,706 $ 48,495 $ — $ 50,201 Interest income on wholesale notes — (253) 16,509 — 16,256 Interest and other income from affiliates 15,995 53,572 80,234 (57,409) 92,392 Rental income on operating leases — 46,338 13,619 — 59,957 Other income — 23,244 930 (16,839) 7,335 Total revenues 15,995 124,607 159,787 (74,248) 226,141 EXPENSES Interest expense: Interest expense to third parties 25,821 11,291 38,908 — 76,020 Interest expense to affiliates — 57,740 2,453 (57,409) 2,784 Total interest expense 25,821 69,031 41,361 (57,409) 78,804 Administrative and operating expenses: Fees charged by affiliates — 10,914 17,229 (16,839) 11,304 Provision for credit losses — 23 4,272 — 4,295 Depreciation of equipment on operating leases — 45,439 11,130 — 56,569 Other expenses 10 (1,657) 14,766 — 13,119 Total administrative and operating expenses 10 54,719 47,397 (16,839) 85,287 Total expenses 25,831 123,750 88,758 (74,248) 164,091 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (9,836) 857 71,029 — 62,050 Income tax provision (benefit) (2,382) 234 16,570 — 14,422 Equity in income of consolidated subsidiaries accounted for under the equity method 55,082 54,459 — (109,541) — NET INCOME $ 47,628 $ 55,082 $ 54,459 $ (109,541) $ 47,628 COMPREHENSIVE INCOME $ 30,665 $ 38,119 $ 39,644 $ (77,763) $ 30,665 Condensed Statements of Comprehensive Income for the Six Months Ended June 30, 2018 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 5,760 $ 93,071 $ — $ 98,831 Interest income on wholesale notes — (512) 32,337 — 31,825 Interest and other income from affiliates 35,070 106,258 157,368 (111,289) 187,407 Rental income on operating leases — 93,416 27,657 — 121,073 Other income — 45,872 1,539 (34,035) 13,376 Total revenues 35,070 250,794 311,972 (145,324) 452,512 EXPENSES Interest expense: Interest expense to third parties 64,011 10,660 78,185 — 152,856 Interest expense to affiliates — 105,348 10,317 (111,289) 4,376 Total interest expense 64,011 116,008 88,502 (111,289) 157,232 Administrative and operating expenses: Fees charged by affiliates — 22,398 34,896 (34,035) 23,259 Provision for credit losses — 2,911 13,199 — 16,110 Depreciation of equipment on operating leases — 95,625 22,629 — 118,254 Other expenses 10 4,490 19,184 — 23,684 Total administrative and operating expenses 10 125,424 89,908 (34,035) 181,307 Total expenses 64,021 241,432 178,410 (145,324) 338,539 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (28,951) 9,362 133,562 — 113,973 Income tax provision (benefit) (7,012) 2,321 31,233 — 26,542 Equity in income of consolidated subsidiaries accounted for under the equity method 109,370 102,329 — (211,699) — NET INCOME $ 87,431 $ 109,370 $ 102,329 $ (211,699) $ 87,431 COMPREHENSIVE INCOME $ 52,652 $ 74,591 $ 72,062 $ (146,653) $ 52,652 Condensed Balance Sheets as of December 31, 2018 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 118,508 $ 41,820 $ — $ 160,328 Restricted cash and cash equivalents — — 639,543 — 639,543 Receivables, less allowance for credit losses — 1,472,678 8,478,248 — 9,950,926 Affiliated accounts and notes receivable 2,310,137 2,122,129 2,268,477 (6,657,354) 43,389 Equipment on operating leases, net — 1,357,493 366,724 — 1,724,217 Equipment held for sale — 192,772 17,219 — 209,991 Investments in consolidated subsidiaries accounted for under the equity method 2,796,050 2,461,139 — (5,257,189) — Goodwill and intangible assets, net — 91,754 26,827 — 118,581 Other assets 11,140 56,517 20,681 (3,401) 84,937 TOTAL $ 5,117,327 $ 7,872,990 $ 11,859,539 $ (11,917,944) $ 12,931,912 LIABILITIES AND STOCKHOLDER’S EQUITY Liabilities: Short-term debt, including current maturities of long-term debt $ 987,559 $ — $ 3,336,733 $ — $ 4,324,292 Accounts payable and other accrued liabilities 286,527 3,035,024 1,243,183 (3,848,956) 715,778 Affiliated debt — 2,041,926 1,046,144 (2,811,799) 276,271 Long-term debt 2,487,509 (10) 3,772,340 — 6,259,839 Total liabilities 3,761,595 5,076,940 9,398,400 (6,660,755) 11,576,180 Stockholder’s equity 1,355,732 2,796,050 2,461,139 (5,257,189) 1,355,732 TOTAL $ 5,117,327 $ 7,872,990 $ 11,859,539 $ (11,917,944) $ 12,931,912 Condensed Statements of Cash Flows for the Six Months Ended June 30, 2018 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash from (used in) operating activities $ 60,887 $ (401,722) $ 23,593 $ 14,601 $ (302,641) CASH FLOWS FROM INVESTING ACTIVITIES: Cost of receivables acquired — (4,019,429) (4,807,932) 3,415,835 (5,411,526) Collections of receivables — 4,065,861 5,091,022 (3,416,342) 5,740,541 Purchase of equipment on operating leases, net — (330) (19,332) — (19,662) Change in property and equipment and software, net — (2,816) — — (2,816) Net cash from (used in) investing activities — 43,286 263,758 (507) 306,537 CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany activity — 319,809 (141,214) (14,094) 164,501 Net change in indebtedness (20,887) (24,411) (311,509) — (356,807) Dividends paid to CNH Industrial America LLC (40,000) — — — (40,000) Net cash from (used in) financing activities (60,887) 295,398 (452,723) (14,094) (232,306) DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH — (63,038) (165,372) — (228,410) CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Beginning of period — 160,339 715,219 — 875,558 End of period $ — $ 97,301 $ 549,847 $ — $ 647,148

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2019
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 13: SUBSEQUENT EVENTS On July 2, 2019, Fitch Ratings affirmed the BBB- senior long-term rating and the F-3 short-term rating of CNH Industrial Capital LLC and improved the outlook to positive from stable. On July 15, 2019, the Company repaid $500,000 of its 3.375% unsecured notes due 2019.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
New Accounting Pronouncements	New Accounting Pronouncements Adopted in 2019 In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which supersedes ASC 840, Leases (“ASC 840”). Subsequently, the FASB has issued additional ASUs, which further clarified this guidance. The ASU’s most prominent change is the requirement for lessees to recognize leased assets and liabilities classified as operating leases under the previous standard. The ASU did 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 requires disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. The Company adopted ASU 2016-02 on January 1, 2019, using the modified retrospective approach, without recasting prior periods. The adoption of this standard did not 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. Among other provisions, the new standard (1) requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported, (2) eliminates the separate measurement and reporting of hedge ineffectiveness and (3) permits an entity to recognize in earnings the initial value of an excluded component under a systematic and rational method over the life of the derivative instrument. The Company adopted ASU 2017-12 on January 1, 2019. The adoption of this standard did not have a material impact on its consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”), which amends ASC 220, Income Statement – Reporting Comprehensive Income . In December 2017, the U.S. government enacted new tax legislation (“U.S. Tax Reform”). Included in the provisions of U.S. Tax Reform was a reduction of the corporate income tax rate from 35 percent to 21 percent. U.S. GAAP requires that the remeasurement of deferred taxes to the new corporate tax rate occur in the period in which the legislation is enacted, with the deferred tax adjustment being recorded in the provision for income taxes, including items for which the tax effects were originally recorded in other comprehensive income (“OCI”). This treatment results in the items in OCI reflecting a disproportionate tax rate, a result often referred to as stranded tax effects. This ASU allowed a reclassification from accumulated OCI to retained earnings for stranded tax effects resulting from U.S. Tax Reform. The Company adopted ASU 2018-02 on January 1, 2019, and reclassified $597 of tax effects from “Accumulated other comprehensive loss” to “Retained earnings” within its consolidated balance sheet. In August 2018, the SEC adopted a final rule that amends certain disclosure requirements that have become duplicative, overlapping, or outdated in light of other SEC disclosure requirements, U.S. GAAP, or changes in the information environment. However, the guidance also added requirements for registrants to include in their interim financial statements a reconciliation of changes in stockholders’ equity for each period for which an income statement is required (both year-to-date and quarterly periods). The Company adopted the new interim disclosure requirement on January 1, 2019. The adoption of this standard did not have a material impact on its consolidated statements of changes in stockholder’s equity. New Accounting Pronouncements Not Yet Adopted 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 . In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses (“ASU 2018-19”), which supersedes existing ASU 2016-13. 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. ASU 2018-19 is effective for annual periods beginning after December 15, 2019. The Company has established a cross-functional implementation team. The team is currently evaluating data requirements and methodologies to assess the effect of the new guidance on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement , which amends ASC 820, Fair Value Measurement . This ASU modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The effective date is the first quarter of fiscal year 2021, with early adoption permitted for the removed disclosures and delayed adoption until fiscal year 2021 permitted for the new disclosures. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement (“ASU 2018-15”), which expands upon the guidance set forth in ASU 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement . ASU 2018-15 aligns the requirements for capitalization of implementation costs in a cloud computing service contract with those requirements for capitalization of implementation costs incurred for an internal-use software license. ASU 2018-15 may be applied prospectively from the date the guidance is first applied or retrospectively. ASU 2018-15 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years, and early adoption is permitted. The Company expects to adopt the ASU on a prospective basis. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements. In October 2018, the FASB issued ASU No. 2018-17, Targeted Improvements to Related Party Guidance for Variable Interest Entities (“ASU 2018-17”), which expands the application of a specific private company alternative related to VIEs and changes the guidance for determining whether a decision-making fee is a variable interest. Under the new guidance, to determine whether decision-making fees represent a variable interest, an entity considers indirect interests held through related parties under common control on a proportionate basis, rather than in their entirety. ASU 2018-17 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years, and early adoption is permitted in any interim period. ASU 2018-17 is required to be applied retrospectively from the date the guidance is first applied. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Jun. 30, 2019
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 three months ended June 30, 2019: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability on Derivatives Total Beginning balance, gross $ (138,036) $ (3,953) $ 372 $ (141,617) Tax asset — 947 (98) 849 Beginning balance, net of tax (138,036) (3,006) 274 (140,768) Other comprehensive income (loss) before reclassifications 9,244 (112) (1,328) 7,804 Amounts reclassified from accumulated other comprehensive income (loss) — 229 (115) 114 Tax effects — (28) 382 354 Net current-period other comprehensive income (loss) 9,244 89 (1,061) 8,272 Total $ (128,792) $ (2,917) $ (787) $ (132,496) The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the six months ended June 30, 2019: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability on Derivatives Total Beginning balance, gross $ (146,726) $ (4,070) $ 3,025 $ (147,771) Tax asset — 1,573 (801) 772 Beginning balance, net of tax (146,726) (2,497) 2,224 (146,999) Other comprehensive income (loss) before reclassifications 17,934 (223) (3,739) 13,972 Amounts reclassified from accumulated other comprehensive income (loss) — 457 (357) 100 Tax effects — (57) 1,085 1,028 Net current-period other comprehensive income (loss) 17,934 177 (3,011) 15,100 Reclassification of stranded tax effects — (597) — (597) Total $ (128,792) $ (2,917) $ (787) $ (132,496) The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the three months ended June 30, 2018: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability Derivatives Total Beginning balance, gross $ (116,717) $ (4,811) $ 2,439 $ (119,089) Tax asset — 1,755 (645) 1,110 Beginning balance, net of tax (116,717) (3,056) 1,794 (117,979) Other comprehensive income (loss) before reclassifications (16,968) (37) (33) (17,038) Amounts reclassified from accumulated other comprehensive income (loss) — 155 (81) 74 Tax effects — (29) 30 1 Net current-period other comprehensive income (loss) (16,968) 89 (84) (16,963) Total $ (133,685) $ (2,967) $ 1,710 $ (134,942) The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the six months ended June 30, 2018: Currency Unrealized Translation Pension (Losses) Gains Adjustment Liability Derivatives Total Beginning balance, gross $ (98,717) $ (4,952) $ 2,333 $ (101,336) Tax asset — 1,790 (617) 1,173 Beginning balance, net of tax (98,717) (3,162) 1,716 (100,163) Other comprehensive income (loss) before reclassifications (34,968) (72) (83) (35,123) Amounts reclassified from accumulated other comprehensive income (loss) — 331 75 406 Tax effects — (64) 2 (62) Net current-period other comprehensive income (loss) (34,968) 195 (6) (34,779) Total $ (133,685) $ (2,967) $ 1,710 $ (134,942)
Schedule of reclassifications out of AOCI and the location on the consolidated statements of income	Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Affected Line Item Amortization of defined benefit pension items: $ (229) $ (155) $ (457) $ (331) Various line items individually insignificant (229) (155) (457) (331) Income before taxes 55 38 111 82 Income tax benefit $ (174) $ (117) $ (346) $ (249) Net of tax Unrealized losses on derivatives: $ 115 $ 81 $ 357 $ (75) Interest expense to third parties 115 81 357 Income before taxes (30) (21) (94) 20 Income tax benefit $ 85 $ 60 $ 263 $ (55) Net of tax

RECEIVABLES (Tables)

RECEIVABLES (Tables)	6 Months Ended
	Jun. 30, 2019
Receivables
Summary of receivables	June 30, December 31, 2019 2018 Retail $ 618,207 $ 753,388 Wholesale 862,353 747,191 Wholesale factoring 84,474 — Finance lease 71,169 63,936 Restricted receivables 8,631,405 8,460,823 Gross receivables 10,267,608 10,025,338 Less: Allowance for credit losses (77,610) (74,412) Total receivables, net $ 10,189,998 $ 9,950,926
Summary of restricted receivables	June 30, December 31, 2019 2018 Retail $ 5,675,562 $ 5,623,730 Wholesale 2,955,843 2,837,093 Total restricted receivables $ 8,631,405 $ 8,460,823
Schedule of allowance for credit losses activity	Allowance for credit losses activity for the three months ended June 30, 2019 is as follows: Retail Wholesale Wholesale Total Allowance for credit losses: Beginning balance $ 65,637 $ 6,535 $ 56 $ 72,228 Charge-offs (9,189) — — (9,189) Recoveries 1,369 3 — 1,372 Provision 12,410 683 4 13,097 Foreign currency translation and other 84 18 — 102 Ending balance $ 70,311 $ 7,239 $ 60 $ 77,610 Allowance for credit losses activity for the six months ended June 30, 2019 is as follows: Retail Wholesale Wholesale Total Allowance for credit losses: Beginning balance $ 66,944 $ 7,468 $ — $ 74,412 Charge-offs (16,566) (2,165) — (18,731) Recoveries 1,676 9 — 1,685 Provision 18,106 1,900 60 20,066 Foreign currency translation and other 151 27 — 178 Ending balance $ 70,311 $ 7,239 $ 60 $ 77,610 Ending balance: individually evaluated for impairment $ 22,833 $ 3,300 $ — $ 26,133 Ending balance: collectively evaluated for impairment $ 47,478 $ 3,939 $ 60 $ 51,477 Receivables: Ending balance $ 6,364,938 $ 3,818,196 $ 84,474 $ 10,267,608 Ending balance: individually evaluated for impairment $ 43,050 $ 4,108 $ — $ 47,158 Ending balance: collectively evaluated for impairment $ 6,321,888 $ 3,814,088 $ 84,474 $ 10,220,450 Allowance for credit losses activity for the three months ended June 30, 2018 is as follows: Wholesale Retail Wholesale Factoring Total Allowance for credit losses: Beginning balance $ 75,721 $ 5,238 $ 121 $ 81,080 Charge-offs (9,757) — — (9,757) Recoveries 1,138 6 — 1,144 Provision (benefit) 3,112 1,250 (67) 4,295 Foreign currency translation and other 102 (8) (4) 90 Ending balance $ 70,316 $ 6,486 $ 50 $ 76,852 Allowance for credit losses activity for the six months ended June 30, 2018 is as follows: Wholesale Retail Wholesale Factoring Total Allowance for credit losses: Beginning balance $ 73,610 $ 5,444 $ 142 $ 79,196 Charge-offs (20,267) (187) — (20,454) Recoveries 2,147 64 — 2,211 Provision (benefit) 15,007 1,187 (84) 16,110 Foreign currency translation and other (181) (22) (8) (211) Ending balance $ 70,316 $ 6,486 $ 50 $ 76,852 Ending balance: individually evaluated for impairment $ 15,659 $ 3,935 $ — $ 19,594 Ending balance: collectively evaluated for impairment $ 54,657 $ 2,551 $ 50 $ 57,258 Receivables: Ending balance $ 6,503,831 $ 3,451,677 $ 83,638 $ 10,039,146 Ending balance: individually evaluated for impairment $ 31,702 $ 29,710 $ — $ 61,412 Ending balance: collectively evaluated for impairment $ 6,472,129 $ 3,421,967 $ 83,638 $ 9,977,734 Allowance for credit losses activity for the year ended December 31, 2018 is as follows: Retail Wholesale Total Allowance for credit losses: Beginning balance $ 73,610 $ 5,586 $ 79,196 Charge-offs (39,375) (1,567) (40,942) Recoveries 4,702 71 4,773 Provision 28,277 3,422 31,699 Foreign currency translation and other (270) (44) (314) Ending balance $ 66,944 $ 7,468 $ 74,412 Ending balance: individually evaluated for impairment $ 15,801 $ 4,825 $ 20,626 Ending balance: collectively evaluated for impairment $ 51,143 $ 2,643 $ 53,786 Receivables: Ending balance $ 6,441,054 $ 3,584,284 $ 10,025,338 Ending balance: individually evaluated for impairment $ 31,148 $ 24,513 $ 55,661 Ending balance: collectively evaluated for impairment $ 6,409,906 $ 3,559,771 $ 9,969,677
Schedule of aging of financing receivables	The aging of receivables as of June 30, 2019 is as follows: 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 $ 18,343 $ 8,467 $ 26,862 $ 53,672 $ 5,126,981 $ 5,180,653 $ 3,197 Canada $ 2,295 $ 2,117 $ 1,509 $ 5,921 $ 1,178,364 $ 1,184,285 $ 552 Wholesale United States $ 453 $ 101 $ 810 $ 1,364 $ 2,917,630 $ 2,918,994 $ 13 Canada $ 159 $ 54 $ — $ 213 $ 898,989 $ 899,202 $ — Wholesale Factoring $ — $ — $ — $ — $ 84,474 $ 84,474 $ — Total Retail $ 20,638 $ 10,584 $ 28,371 $ 59,593 $ 6,305,345 $ 6,364,938 $ 3,749 Wholesale $ 612 $ 155 $ 810 $ 1,577 $ 3,816,619 $ 3,818,196 $ 13 Wholesale factoring $ — $ — $ — $ — $ 84,474 $ 84,474 $ — The aging of receivables as of December 31, 2018 is as follows: 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 $ 19,318 $ 6,372 $ 24,772 $ 50,462 $ 5,239,777 $ 5,290,239 $ 4,573 Canada $ 1,398 $ 510 $ 2,326 $ 4,234 $ 1,146,581 $ 1,150,815 $ 911 Wholesale United States $ 484 $ 10 $ 1,368 $ 1,862 $ 2,788,655 $ 2,790,517 $ 387 Canada $ 3 $ — $ 436 $ 439 $ 793,328 $ 793,767 $ 1 Total Retail $ 20,716 $ 6,882 $ 27,098 $ 54,696 $ 6,386,358 $ 6,441,054 $ 5,484 Wholesale $ 487 $ 10 $ 1,804 $ 2,301 $ 3,581,983 $ 3,584,284 $ 388
Schedule of recorded investment in impaired receivables and the related unpaid principal balances, allowances and average recorded investment	June 30, 2019 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment Retail United States $ 41,211 $ 39,608 $ 21,888 $ 43,336 Canada $ 1,839 $ 1,841 $ 945 $ 1,935 Wholesale United States $ 4,108 $ 3,861 $ 3,300 $ 6,138 Total Retail $ 43,050 $ 41,449 $ 22,833 $ 45,271 Wholesale $ 4,108 $ 3,861 $ 3,300 $ 6,138 December 31, 2018 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment Retail United States $ 30,959 $ 29,783 $ 15,347 $ 32,787 Canada $ 189 $ 180 $ 454 $ 248 Wholesale United States $ 24,513 $ 22,985 $ 4,825 $ 27,269 Total Retail $ 31,148 $ 29,963 $ 15,801 $ 33,035 Wholesale $ 24,513 $ 22,985 $ 4,825 $ 27,269
Schedule of receivables on nonaccrual status	June 30, 2019 December 31, 2018 Retail Wholesale Total Retail Wholesale Total United States $ 32,608 $ 3,861 $ 36,469 $ 27,069 $ 22,985 $ 50,054 Canada $ 1,011 $ — $ 1,011 $ 1,428 $ — $ 1,428
Retail
Receivables
Schedule of breakdown of the portfolio by its credit quality indicators	June 30, December 31, 2019 2018 Titanium $ 3,252,856 $ 3,367,239 Platinum 1,942,086 1,942,784 Gold 986,654 943,816 Silver 147,094 152,338 Bronze 36,248 34,877 Total $ 6,364,938 $ 6,441,054
Wholesale
Receivables
Schedule of breakdown of the portfolio by its credit quality indicators	June 30, December 31, 2019 2018 A $ 1,618,562 $ 1,582,179 B 1,389,577 1,292,331 C 667,015 527,735 D 143,042 182,039 Total $ 3,818,196 $ 3,584,284

EQUIPMENT ON OPERATING LEASES (

EQUIPMENT ON OPERATING LEASES (Tables)	6 Months Ended
	Jun. 30, 2019
EQUIPMENT ON OPERATING LEASES
Summary of equipment on operating leases	2019 $ 87,740 2020 165,591 2021 105,826 2022 36,240 2023 and thereafter 12,107 Total lease payments $ 407,504

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2019
FINANCIAL INSTRUMENTS
Schedule of fair values of derivatives in the consolidated balance sheets	June 30, December 31, 2019 2018 Derivatives Designated as Hedging Instruments Other assets: Interest rate derivatives $ 38,388 $ 15,422 Accounts payable and other accrued liabilities: Interest rate derivatives $ 3,526 $ 8,107 Derivatives Not Designated as Hedging Instruments Other assets: Interest rate derivatives $ 806 $ 1,157 Foreign exchange contracts — 86 Total $ 806 $ 1,243 Accounts payable and other accrued liabilities: Interest rate derivatives $ 806 $ 1,157 Foreign exchange contracts 2,951 — Total $ 3,757 $ 1,157
Schedule of pre-tax gains (losses) on the consolidated statements of income related to the Company's derivatives	Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Cash Flow Hedges Recognized in accumulated other comprehensive income (loss) (effective portion): Interest rate derivatives $ (1,328) $ (33) $ (3,739) $ (83) Reclassified from accumulated other comprehensive income (loss) (effective portion): Interest rate derivatives—Interest expense to third parties 115 81 357 (75) Not Designated as Hedges Foreign exchange contracts—Other expenses $ 3,463 $ $ 3,193 $
Schedule of assets and liabilities measured at fair value on a recurring basis	June 30, December 31, 2019 2018 Assets Interest rate derivatives $ 39,194 $ 16,579 Foreign exchange contracts — 86 Total assets $ 39,194 $ 16,665 Liabilities Interest rate derivatives $ 4,332 $ 9,264 Foreign exchange contracts 2,951 — Total liabilities $ 7,283 $ 9,264
Schedule of carrying amount and estimated fair value of assets and liabilities considered financial instruments	June 30, 2019 December 31, 2018 Carrying Estimated Carrying Estimated Amount Fair Value * Amount Fair Value * Receivables $ 10,189,998 $ 10,109,802 $ 9,950,926 $ 9,589,920 Long-term debt $ 6,300,528 $ 6,322,186 $ 6,259,839 $ 6,149,778 ______________ * Under the fair value hierarchy, receivables measurements are classified as Level 3 and long‑term debt measurements are classified as Level 2.

GEOGRAPHICAL INFORMATION (Table

GEOGRAPHICAL INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2019
GEOGRAPHICAL INFORMATION
Summary of geographic information	Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Revenues United States $ 183,870 $ 175,694 $ 361,649 $ 352,197 Canada 47,903 52,851 93,508 104,580 Eliminations (2,661) (2,404) (3,976) (4,265) Total $ 229,112 $ 226,141 $ 451,181 $ 452,512 Interest expense United States $ 70,923 $ 67,112 $ 144,359 $ 133,956 Canada 16,985 14,096 33,245 27,541 Eliminations (2,661) (2,404) (3,976) (4,265) Total $ 85,247 $ 78,804 $ 173,628 $ 157,232 Net income United States $ 25,247 $ 30,705 $ 54,015 $ 53,639 Canada 12,537 16,923 22,980 33,792 Total $ 37,784 $ 47,628 $ 76,995 $ 87,431 Depreciation and amortization United States $ 45,511 $ 45,987 $ 95,902 $ 96,701 Canada 10,642 11,130 21,673 22,630 Total $ 56,153 $ 57,117 $ 117,575 $ 119,331 Expenditures for equipment on operating leases United States $ 133,803 $ 106,161 $ 279,584 $ 183,306 Canada 37,863 33,022 67,591 58,482 Total $ 171,666 $ 139,183 $ 347,175 $ 241,788 Provision for credit losses United States $ 12,364 $ 3,509 $ 18,060 $ 14,814 Canada 733 786 2,006 1,296 Total $ 13,097 $ 4,295 $ 20,066 $ 16,110 As of As of June 30, December 31, 2019 2018 Total assets United States $ 10,328,274 $ 10,482,805 Canada 2,717,460 2,511,839 Eliminations (96,884) (62,732) Total $ 12,948,850 $ 12,931,912 Managed receivables United States $ 8,099,647 $ 8,080,756 Canada 2,167,961 1,944,582 Total $ 10,267,608 $ 10,025,338

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2019
RELATED-PARTY TRANSACTIONS
Summary of the sources included in "Interest and other income from affiliates" in the accompanying consolidated statements of income	Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Subsidy from CNH Industrial North America Retail $ 40,317 $ 37,081 $ 79,513 $ 76,497 Wholesale 32,370 34,767 62,380 68,850 Operating lease 15,059 15,411 30,065 31,006 Income from Iveco Argentina Wholesale factoring 1,206 4,983 1,206 10,292 Income from affiliated receivables CNH Industrial North America 40 150 81 762 Total interest and other income from affiliates $ 88,992 $ 92,392 $ 173,245 $ 187,407
Schedule of various accounts and notes receivable and debt with the affiliates	June 30, December 31, 2019 2018 Affiliated receivables CNH Industrial America $ — $ CNH Industrial Canada Ltd. 356 Other affiliates 12,310 Total affiliated receivables $ 12,666 $ Affiliated debt CNH Industrial America $ 339,109 $ CNH Industrial Canada Ltd. 7,373 176,816 Total affiliated debt $ 346,482 $

SUPPLEMENTAL CONDENSED CONSOL_2

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2019
SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Schedule of condensed statements of comprehensive income	Condensed Statements of Comprehensive Income for the Three Months Ended June 30, 2019 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 7,708 $ 49,404 $ — $ 57,112 Interest income on wholesale notes — (276) 17,269 — 16,993 Interest and other income from affiliates 15,482 52,420 36,572 (15,482) 88,992 Rental income on operating leases — 47,253 13,239 — 60,492 Other income — 21,172 652 (16,301) 5,523 Total revenues 15,482 128,277 117,136 (31,783) 229,112 EXPENSES Interest expense: Interest expense to third parties 52,749 (16,733) 48,973 — 84,989 Interest expense to affiliates — 12,120 3,620 (15,482) 258 Total interest expense 52,749 (4,613) 52,593 (15,482) 85,247 Administrative and operating expenses: Fees charged by affiliates — 11,131 16,744 (16,301) 11,574 Provision for credit losses — 5,366 7,731 — 13,097 Depreciation of equipment on operating leases — 45,038 10,642 — 55,680 Other expenses 6 11,083 2,743 — 13,832 Total administrative and operating expenses 6 72,618 37,860 (16,301) 94,183 Total expenses 52,755 68,005 90,453 (31,783) 179,430 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (37,273) 60,272 26,683 — 49,682 Income tax provision (benefit) (9,100) 14,832 6,166 — 11,898 Equity in income of consolidated subsidiaries accounted for under the equity method 65,957 20,517 — (86,474) — NET INCOME $ 37,784 $ 65,957 $ 20,517 $ (86,474) $ 37,784 COMPREHENSIVE INCOME $ 46,056 $ 74,229 $ 27,633 $ (101,862) $ 46,056 Condensed Statements of Comprehensive Income for the Six Months Ended June 30, 2019 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 13,631 $ 98,949 $ — $ 112,580 Interest income on wholesale notes — (534) 34,269 — 33,735 Interest and other income from affiliates 31,448 102,509 70,736 (31,448) 173,245 Rental income on operating leases — 94,256 26,877 — 121,133 Other income — 42,027 1,173 (32,712) 10,488 Total revenues 31,448 251,889 232,004 (64,160) 451,181 EXPENSES Interest expense: Interest expense to third parties 100,226 (28,086) 98,065 — 170,205 Interest expense to affiliates — 57,643 (22,772) (31,448) 3,423 Total interest expense 100,226 29,557 75,293 (31,448) 173,628 Administrative and operating expenses: Fees charged by affiliates — 22,993 33,674 (32,712) 23,955 Provision for credit losses — 8,732 11,334 — 20,066 Depreciation of equipment on operating leases — 94,928 21,672 — 116,600 Other expenses 12 10,357 5,890 — 16,259 Total administrative and operating expenses 12 137,010 72,570 (32,712) 176,880 Total expenses 100,238 166,567 147,863 (64,160) 350,508 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (68,790) 85,322 84,141 — 100,673 Income tax provision (benefit) (16,796) 21,064 19,410 — 23,678 Equity in income of consolidated subsidiaries accounted for under the equity method 128,989 64,731 — (193,720) — NET INCOME $ 76,995 $ 128,989 $ 64,731 $ (193,720) $ 76,995 COMPREHENSIVE INCOME $ 92,095 $ 144,089 $ 76,907 $ (220,996) $ 92,095 Condensed Statements of Comprehensive Income for the Three Months Ended June 30, 2018 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 1,706 $ 48,495 $ — $ 50,201 Interest income on wholesale notes — (253) 16,509 — 16,256 Interest and other income from affiliates 15,995 53,572 80,234 (57,409) 92,392 Rental income on operating leases — 46,338 13,619 — 59,957 Other income — 23,244 930 (16,839) 7,335 Total revenues 15,995 124,607 159,787 (74,248) 226,141 EXPENSES Interest expense: Interest expense to third parties 25,821 11,291 38,908 — 76,020 Interest expense to affiliates — 57,740 2,453 (57,409) 2,784 Total interest expense 25,821 69,031 41,361 (57,409) 78,804 Administrative and operating expenses: Fees charged by affiliates — 10,914 17,229 (16,839) 11,304 Provision for credit losses — 23 4,272 — 4,295 Depreciation of equipment on operating leases — 45,439 11,130 — 56,569 Other expenses 10 (1,657) 14,766 — 13,119 Total administrative and operating expenses 10 54,719 47,397 (16,839) 85,287 Total expenses 25,831 123,750 88,758 (74,248) 164,091 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (9,836) 857 71,029 — 62,050 Income tax provision (benefit) (2,382) 234 16,570 — 14,422 Equity in income of consolidated subsidiaries accounted for under the equity method 55,082 54,459 — (109,541) — NET INCOME $ 47,628 $ 55,082 $ 54,459 $ (109,541) $ 47,628 COMPREHENSIVE INCOME $ 30,665 $ 38,119 $ 39,644 $ (77,763) $ 30,665 Condensed Statements of Comprehensive Income for the Six Months Ended June 30, 2018 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated REVENUES Interest income on retail notes and finance leases $ — $ 5,760 $ 93,071 $ — $ 98,831 Interest income on wholesale notes — (512) 32,337 — 31,825 Interest and other income from affiliates 35,070 106,258 157,368 (111,289) 187,407 Rental income on operating leases — 93,416 27,657 — 121,073 Other income — 45,872 1,539 (34,035) 13,376 Total revenues 35,070 250,794 311,972 (145,324) 452,512 EXPENSES Interest expense: Interest expense to third parties 64,011 10,660 78,185 — 152,856 Interest expense to affiliates — 105,348 10,317 (111,289) 4,376 Total interest expense 64,011 116,008 88,502 (111,289) 157,232 Administrative and operating expenses: Fees charged by affiliates — 22,398 34,896 (34,035) 23,259 Provision for credit losses — 2,911 13,199 — 16,110 Depreciation of equipment on operating leases — 95,625 22,629 — 118,254 Other expenses 10 4,490 19,184 — 23,684 Total administrative and operating expenses 10 125,424 89,908 (34,035) 181,307 Total expenses 64,021 241,432 178,410 (145,324) 338,539 Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method (28,951) 9,362 133,562 — 113,973 Income tax provision (benefit) (7,012) 2,321 31,233 — 26,542 Equity in income of consolidated subsidiaries accounted for under the equity method 109,370 102,329 — (211,699) — NET INCOME $ 87,431 $ 109,370 $ 102,329 $ (211,699) $ 87,431 COMPREHENSIVE INCOME $ 52,652 $ 74,591 $ 72,062 $ (146,653) $ 52,652
Schedule of condensed balance sheets	Condensed Balance Sheets as of June 30, 2019 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 62,177 $ 35,467 $ — $ 97,644 Restricted cash and cash equivalents — — 488,562 — 488,562 Receivables, less allowance for credit losses — 1,513,793 8,676,205 — 10,189,998 Affiliated accounts and notes receivable 2,120,366 2,440,827 2,409,913 (6,958,440) 12,666 Equipment on operating leases, net — 1,353,878 370,756 — 1,724,634 Equipment held for sale — 216,716 19,633 — 236,349 Investments in consolidated subsidiaries accounted for under the equity method 2,940,396 2,515,729 — (5,456,125) — Goodwill and intangible assets, net — 92,695 27,871 — 120,566 Other assets 9,102 51,735 21,161 (3,567) 78,431 TOTAL $ 5,069,864 $ 8,247,550 $ 12,049,568 $ (12,418,132) $ 12,948,850 LIABILITIES AND STOCKHOLDER’S EQUITY Liabilities: Short-term debt, including current maturities of long-term debt $ 938,628 $ — $ 3,258,797 $ — $ 4,197,425 Accounts payable and other accrued liabilities 287,773 3,232,811 1,365,429 (4,104,683) 781,330 Affiliated debt — 2,074,343 1,129,463 (2,857,324) 346,482 Long-term debt 2,520,378 — 3,780,150 — 6,300,528 Total liabilities 3,746,779 5,307,154 9,533,839 (6,962,007) 11,625,765 Stockholder’s equity 1,323,085 2,940,396 2,515,729 (5,456,125) 1,323,085 TOTAL $ 5,069,864 $ 8,247,550 $ 12,049,568 $ (12,418,132) $ 12,948,850 Condensed Balance Sheets as of December 31, 2018 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ — $ 118,508 $ 41,820 $ — $ 160,328 Restricted cash and cash equivalents — — 639,543 — 639,543 Receivables, less allowance for credit losses — 1,472,678 8,478,248 — 9,950,926 Affiliated accounts and notes receivable 2,310,137 2,122,129 2,268,477 (6,657,354) 43,389 Equipment on operating leases, net — 1,357,493 366,724 — 1,724,217 Equipment held for sale — 192,772 17,219 — 209,991 Investments in consolidated subsidiaries accounted for under the equity method 2,796,050 2,461,139 — (5,257,189) — Goodwill and intangible assets, net — 91,754 26,827 — 118,581 Other assets 11,140 56,517 20,681 (3,401) 84,937 TOTAL $ 5,117,327 $ 7,872,990 $ 11,859,539 $ (11,917,944) $ 12,931,912 LIABILITIES AND STOCKHOLDER’S EQUITY Liabilities: Short-term debt, including current maturities of long-term debt $ 987,559 $ — $ 3,336,733 $ — $ 4,324,292 Accounts payable and other accrued liabilities 286,527 3,035,024 1,243,183 (3,848,956) 715,778 Affiliated debt — 2,041,926 1,046,144 (2,811,799) 276,271 Long-term debt 2,487,509 (10) 3,772,340 — 6,259,839 Total liabilities 3,761,595 5,076,940 9,398,400 (6,660,755) 11,576,180 Stockholder’s equity 1,355,732 2,796,050 2,461,139 (5,257,189) 1,355,732 TOTAL $ 5,117,327 $ 7,872,990 $ 11,859,539 $ (11,917,944) $ 12,931,912
Schedule of condensed statements of cash flows	Condensed Statements of Cash Flows for the Six Months Ended June 30, 2019 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash from (used in) operating activities $ 141,062 $ 78,565 $ 39,839 $ 45,359 $ 304,825 CASH FLOWS FROM INVESTING ACTIVITIES: Cost of receivables acquired — (4,272,656) (4,926,232) 3,659,309 (5,539,579) Collections of receivables — 4,222,643 4,802,932 (3,659,143) 5,366,432 Purchase of equipment on operating leases, net — (115,394) (10,964) — (126,358) Change in property and equipment and software, net — (1,916) — — (1,916) Net cash from (used in) investing activities — (167,323) (134,264) 166 (301,421) CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany activity — 32,417 83,026 (45,525) 69,918 Net change in indebtedness (16,062) 10 (145,935) — (161,987) Dividends paid to CNH Industrial America LLC (125,000) — — — (125,000) Net cash from (used in) financing activities (141,062) 32,427 (62,909) (45,525) (217,069) DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH — (56,331) (157,334) — (213,665) CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Beginning of period — 118,508 681,363 — 799,871 End of period $ — $ 62,177 $ 524,029 $ — $ 586,206 Condensed Statements of Cash Flows for the Six Months Ended June 30, 2018 CNH Industrial Guarantor All Other Capital LLC Entities Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net cash from (used in) operating activities $ 60,887 $ (401,722) $ 23,593 $ 14,601 $ (302,641) CASH FLOWS FROM INVESTING ACTIVITIES: Cost of receivables acquired — (4,019,429) (4,807,932) 3,415,835 (5,411,526) Collections of receivables — 4,065,861 5,091,022 (3,416,342) 5,740,541 Purchase of equipment on operating leases, net — (330) (19,332) — (19,662) Change in property and equipment and software, net — (2,816) — — (2,816) Net cash from (used in) investing activities — 43,286 263,758 (507) 306,537 CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany activity — 319,809 (141,214) (14,094) 164,501 Net change in indebtedness (20,887) (24,411) (311,509) — (356,807) Dividends paid to CNH Industrial America LLC (40,000) — — — (40,000) Net cash from (used in) financing activities (60,887) 295,398 (452,723) (14,094) (232,306) DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH — (63,038) (165,372) — (228,410) CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Beginning of period — 160,339 715,219 — 875,558 End of period $ — $ 97,301 $ 549,847 $ — $ 647,148

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Change in Accounting Principle (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Jun. 30, 2019	Dec. 31, 2018
Tax provision at statutory rate (as a percent)		21.00%	35.00%
Accounting Standards Update 2018-02 | Adjustment Due to Adoption of Standard
Reclassification of certain tax effects	$ 597

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME - Change in Components of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Changes in accumulated other comprehensive income by component
Beginning balance, gross					$ (141,617)	$ (147,771)	$ (119,089)	$ (101,336)
Tax asset					849	772	1,110	1,173
Beginning balance, net of tax	$ (140,768)	$ (117,979)	$ (146,999)	$ (100,163)
Other comprehensive income (loss) before reclassifications	7,804	(17,038)	13,972	(35,123)
Amounts reclassified from accumulated other comprehensive income (loss)	114	74	100	406
Tax effects	354	1	1,028	(62)
Total other comprehensive income (loss)	8,272	(16,963)	15,100	(34,779)
Reclassification of stranded tax effects			(597)
Ending balance	(132,496)	(134,942)	(132,496)	(134,942)
Currency Translation Adjustment
Changes in accumulated other comprehensive income by component
Beginning balance, gross					(138,036)	(146,726)	(116,717)	(98,717)
Beginning balance, net of tax	(138,036)	(116,717)	(146,726)	(98,717)
Other comprehensive income (loss) before reclassifications	9,244	(16,968)	17,934	(34,968)
Total other comprehensive income (loss)	9,244	(16,968)	17,934	(34,968)
Ending balance	(128,792)	(133,685)	(128,792)	(133,685)
Pension Liability
Changes in accumulated other comprehensive income by component
Beginning balance, gross					(3,953)	(4,070)	(4,811)	(4,952)
Tax asset					947	1,573	1,755	1,790
Beginning balance, net of tax	(3,006)	(3,056)	(2,497)	(3,162)
Other comprehensive income (loss) before reclassifications	(112)	(37)	(223)	(72)
Amounts reclassified from accumulated other comprehensive income (loss)	229	155	457	331
Tax effects	(28)	(29)	(57)	(64)
Total other comprehensive income (loss)	89	89	177	195
Reclassification of stranded tax effects			(597)
Ending balance	(2,917)	(2,967)	(2,917)	(2,967)
Unrealized (Losses) Gains on Derivatives
Changes in accumulated other comprehensive income by component
Beginning balance, gross					372	3,025	2,439	2,333
Tax asset					$ (98)	$ (801)	$ (645)	$ (617)
Beginning balance, net of tax	274	1,794	2,224	1,716
Other comprehensive income (loss) before reclassifications	(1,328)	(33)	(3,739)	(83)
Amounts reclassified from accumulated other comprehensive income (loss)	(115)	(81)	(357)	75
Tax effects	382	30	1,085	2
Total other comprehensive income (loss)	(1,061)	(84)	(3,011)	(6)
Ending balance	$ (787)	$ 1,710	$ (787)	$ 1,710

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME - Reclassifications out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Reclassifications out of accumulated other comprehensive income and the location on the consolidated statements of income
Interest expense to third parties	$ (84,989)	$ (76,020)	$ (170,205)	$ (152,856)
Income before taxes	49,682	62,050	100,673	113,973
Income tax benefit	(11,898)	(14,422)	(23,678)	(26,542)
Net income	37,784	47,628	76,995	87,431
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	(229)	(155)	(457)	(331)
Income before taxes	(229)	(155)	(457)	(331)
Income tax benefit	55	38	111	82
Net income	(174)	(117)	(346)	(249)
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	115	81	357	(75)
Income before taxes	115	81	357	(75)
Income tax benefit	(30)	(21)	(94)	20
Net income	$ 85	$ 60	$ 263	$ (55)

RECEIVABLES - Summary of Receiv

RECEIVABLES - Summary of Receivables (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)item	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Receivables
Gross receivables	$ 10,267,608		$ 10,025,338	$ 10,039,146
Less: Allowance for credit losses	(77,610)	$ (72,228)	(74,412)	$ (76,852)	$ (81,080)	$ (79,196)
Total receivables, net	10,189,998		9,950,926
Restricted Receivables	8,631,405		8,460,823
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
Number of components of allowance for credit losses | item	2
Number of portfolio segments in which allowance for credit losses is segregated | item	3
Retail
Receivables
Gross receivables	$ 618,207		753,388
Restricted Receivables	5,675,562		5,623,730
Wholesale
Receivables
Gross receivables	862,353		747,191
Restricted Receivables	2,955,843		2,837,093
Wholesale factoring
Receivables
Gross receivables	84,474
Finance lease receivables
Receivables
Gross receivables	$ 71,169		$ 63,936

RECEIVABLES - Allowance for Cre

RECEIVABLES - Allowance for Credit Losses Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Allowance for credit losses:
Beginning balance	$ 72,228	$ 81,080	$ 74,412	$ 79,196	$ 79,196
Charge-offs	(9,189)	(9,757)	(18,731)	(20,454)	(40,942)
Recoveries	1,372	1,144	1,685	2,211	4,773
Provision (benefit)	13,097	4,295	20,066	16,110	31,699
Foreign currency translation and other	102	90	178	(211)	(314)
Ending balance	77,610	76,852	77,610	76,852	74,412
Ending balance: individually evaluated for impairment	26,133	19,594	26,133	19,594	20,626
Ending balance: collectively evaluated for impairment	51,477	57,258	51,477	57,258	53,786
Receivables:
Ending balance	10,267,608	10,039,146	10,267,608	10,039,146	10,025,338
Ending balance: individually evaluated for impairment	47,158	61,412	47,158	61,412	55,661
Ending balance: collectively evaluated for impairment	10,220,450	9,977,734	10,220,450	9,977,734	9,969,677
Retail
Allowance for credit losses:
Beginning balance	65,637	75,721	66,944	73,610	73,610
Charge-offs	(9,189)	(9,757)	(16,566)	(20,267)	(39,375)
Recoveries	1,369	1,138	1,676	2,147	4,702
Provision (benefit)	12,410	3,112	18,106	15,007	28,277
Foreign currency translation and other	84	102	151	(181)	(270)
Ending balance	70,311	70,316	70,311	70,316	66,944
Ending balance: individually evaluated for impairment	22,833	15,659	22,833	15,659	15,801
Ending balance: collectively evaluated for impairment	47,478	54,657	47,478	54,657	51,143
Receivables:
Ending balance	6,364,938	6,503,831	6,364,938	6,503,831	6,441,054
Ending balance: individually evaluated for impairment	43,050	31,702	43,050	31,702	31,148
Ending balance: collectively evaluated for impairment	6,321,888	6,472,129	6,321,888	6,472,129	6,409,906
Wholesale
Allowance for credit losses:
Beginning balance	6,535	5,238	7,468	5,444	5,444
Charge-offs			(2,165)	(187)
Recoveries	3	6	9	64
Provision (benefit)	683	1,250	1,900	1,187
Foreign currency translation and other	18	(8)	27	(22)
Ending balance	7,239	6,486	7,239	6,486	7,468
Ending balance: individually evaluated for impairment	3,300	3,935	3,300	3,935
Ending balance: collectively evaluated for impairment	3,939	2,551	3,939	2,551
Receivables:
Ending balance	3,818,196	3,451,677	3,818,196	3,451,677	3,584,284
Ending balance: individually evaluated for impairment	4,108	29,710	4,108	29,710
Ending balance: collectively evaluated for impairment	3,814,088	3,421,967	3,814,088	3,421,967
Wholesale factoring
Allowance for credit losses:
Beginning balance	56	121		142	142
Provision (benefit)	4	(67)	60	(84)
Foreign currency translation and other		(4)		(8)
Ending balance	60	50	60	50
Ending balance: collectively evaluated for impairment	60	50	60	50
Receivables:
Ending balance	84,474	83,638	84,474	83,638
Ending balance: collectively evaluated for impairment	$ 84,474	$ 83,638	84,474	83,638
Wholesale and wholesale factoring
Allowance for credit losses:
Beginning balance			$ 7,468	$ 5,586	5,586
Charge-offs					(1,567)
Recoveries					71
Provision (benefit)					3,422
Foreign currency translation and other					(44)
Ending balance					7,468
Ending balance: individually evaluated for impairment					4,825
Ending balance: collectively evaluated for impairment					2,643
Receivables:
Ending balance					3,584,284
Ending balance: individually evaluated for impairment					24,513
Ending balance: collectively evaluated for impairment					$ 3,559,771

RECEIVABLES - Breakdown of Rece

RECEIVABLES - Breakdown of Receivables by Credit Quality Indicators (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Financing receivable, recorded investment
Gross receivables	$ 10,267,608	$ 10,025,338	$ 10,039,146
Retail
Financing receivable, recorded investment
Gross receivables	6,364,938	6,441,054	6,503,831
Retail | Titanium
Financing receivable, recorded investment
Gross receivables	3,252,856	3,367,239
Retail | Platinum
Financing receivable, recorded investment
Gross receivables	1,942,086	1,942,784
Retail | Gold
Financing receivable, recorded investment
Gross receivables	986,654	943,816
Retail | Silver
Financing receivable, recorded investment
Gross receivables	147,094	152,338
Retail | Bronze
Financing receivable, recorded investment
Gross receivables	36,248	34,877
Wholesale
Financing receivable, recorded investment
Gross receivables	3,818,196	3,584,284	$ 3,451,677
Wholesale | Grade A
Financing receivable, recorded investment
Gross receivables	1,618,562	1,582,179
Wholesale | Grade B
Financing receivable, recorded investment
Gross receivables	1,389,577	1,292,331
Wholesale | Grade C
Financing receivable, recorded investment
Gross receivables	667,015	527,735
Wholesale | Grade D
Financing receivable, recorded investment
Gross receivables	$ 143,042	$ 182,039

RECEIVABLES - Aging of Receivab

RECEIVABLES - Aging of Receivables (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Financing receivable, recorded investment
Total Receivables	$ 10,267,608	$ 10,025,338	$ 10,039,146
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	$ 59,593	$ 54,696
Current	6,305,345	6,386,358
Total Receivables	6,364,938	6,441,054	6,503,831
Recorded Investment > 90 Days and Accruing	3,749	5,484
Retail | 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	20,638	20,716
Retail | 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	10,584	6,882
Retail | Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	28,371	27,098
Retail | United States
Financing receivable, recorded investment
Total Past Due	53,672	50,462
Current	5,126,981	5,239,777
Total Receivables	5,180,653	5,290,239
Recorded Investment > 90 Days and Accruing	3,197	4,573
Retail | United States | 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	18,343	19,318
Retail | United States | 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	8,467	6,372
Retail | United States | Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	26,862	24,772
Retail | Canada
Financing receivable, recorded investment
Total Past Due	5,921	4,234
Current	1,178,364	1,146,581
Total Receivables	1,184,285	1,150,815
Recorded Investment > 90 Days and Accruing	552	911
Retail | Canada | 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	2,295	1,398
Retail | Canada | 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	2,117	510
Retail | Canada | Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	1,509	2,326
Wholesale
Financing receivable, recorded investment
Total Past Due	1,577	2,301
Current	3,816,619	3,581,983
Total Receivables	3,818,196	3,584,284	3,451,677
Recorded Investment > 90 Days and Accruing	13	388
Wholesale | 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	612	487
Wholesale | 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	155	10
Wholesale | Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	810	1,804
Wholesale | United States
Financing receivable, recorded investment
Total Past Due	1,364	1,862
Current	2,917,630	2,788,655
Total Receivables	2,918,994	2,790,517
Recorded Investment > 90 Days and Accruing	13	387
Wholesale | United States | 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	453	484
Wholesale | United States | 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	101	10
Wholesale | United States | Greater than 90 Days
Financing receivable, recorded investment
Total Past Due	810	1,368
Wholesale | Canada
Financing receivable, recorded investment
Total Past Due	213	439
Current	898,989	793,328
Total Receivables	899,202	793,767
Recorded Investment > 90 Days and Accruing		1
Wholesale | Canada | 31-60 Days Past Due
Financing receivable, recorded investment
Total Past Due	159	3
Wholesale | Canada | 61-90 Days Past Due
Financing receivable, recorded investment
Total Past Due	54
Wholesale | Canada | Greater than 90 Days
Financing receivable, recorded investment
Total Past Due		$ 436
Wholesale factoring
Financing receivable, recorded investment
Current	84,474
Total Receivables	$ 84,474		$ 83,638

RECEIVABLES - Impaired Receivab

RECEIVABLES - Impaired Receivables (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
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	$ 36,469	$ 50,054
Canada
Average Recorded Investment
Receivables on nonaccrual status	1,011	1,428
Retail | United States
Average Recorded Investment
Receivables on nonaccrual status	32,608	27,069
Retail | Canada
Average Recorded Investment
Receivables on nonaccrual status	1,011	1,428
Wholesale | United States
Average Recorded Investment
Receivables on nonaccrual status	$ 3,861	$ 22,985
Individually evaluated for impairment
Unpaid Principal Balance
Period considered for average recorded investment	7 months	13 months
Individually evaluated for impairment | Retail
Recorded Investment
With an allowance recorded	$ 43,050	$ 31,148
Unpaid Principal Balance
With an allowance recorded	41,449	29,963
Related Allowance	22,833	15,801
Average Recorded Investment
With an allowance recorded	45,271	33,035
Individually evaluated for impairment | Retail | United States
Recorded Investment
With an allowance recorded	41,211	30,959
Unpaid Principal Balance
With an allowance recorded	39,608	29,783
Related Allowance	21,888	15,347
Average Recorded Investment
With an allowance recorded	43,336	32,787
Individually evaluated for impairment | Retail | Canada
Recorded Investment
With an allowance recorded	1,839	189
Unpaid Principal Balance
With an allowance recorded	1,841	180
Related Allowance	945	454
Average Recorded Investment
With an allowance recorded	1,935	248
Individually evaluated for impairment | Wholesale
Recorded Investment
With an allowance recorded	4,108	24,513
Unpaid Principal Balance
With an allowance recorded	3,861	22,985
Related Allowance	3,300	4,825
Average Recorded Investment
With an allowance recorded	6,138	27,269
Individually evaluated for impairment | Wholesale | United States
Recorded Investment
With an allowance recorded	4,108	24,513
Unpaid Principal Balance
With an allowance recorded	3,861	22,985
Related Allowance	3,300	4,825
Average Recorded Investment
With an allowance recorded	$ 6,138	$ 27,269

RECEIVABLES - Troubled Debt Res

RECEIVABLES - Troubled Debt Restructuring of Receivables (Details) - Retail $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)item	Jun. 30, 2018USD ($)item
Troubled Debt Restructurings
Number of contracts classified as TDRs | item	272	288
Pre-modification value	$ 10,216	$ 9,624
Post-modification value	$ 9,214	$ 8,742
Number of cases in which the court has not yet determined the concession | item	381	377
Pre-modification value for cases in which the court has not yet determined the concession	$ 16,336	$ 20,262

EQUIPMENT ON OPERATING LEASES_2

EQUIPMENT ON OPERATING LEASES (Details) $ in Thousands	Jun. 30, 2019USD ($)
Lease payments owed to the company for equipment under non-cancelable operating leases
Deferred operating lease subsidy	$ 112,020
2019	87,740
2020	165,591
2021	105,826
2022	36,240
2023 and Thereafter	12,107
Total lease payments	$ 407,504

CREDIT FACILITIES AND DEBT (Det

CREDIT FACILITIES AND DEBT (Details) $ in Thousands, $ in Thousands	Jun. 30, 2019USD ($)	Jun. 25, 2019CAD ($)	Jun. 25, 2019USD ($)	May 22, 2019USD ($)	Dec. 31, 2018USD ($)
Debt
Long-term debt	$ 6,300,528				$ 6,259,839
Uncommitted credit line
Debt
Short-Term Outstanding	50,000
Revolving credit facilities
Debt
Maximum borrowing capacity	843,188
Line of credit, outstanding amount	443,188
Amortizing Retail Term ABS
Debt
Debt amount		$ 415,953	$ 310,946	$ 751,140
Commercial paper
Debt
Short-Term Outstanding	$ 390,000

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Reconciliation of statutory and effective income tax rate
Effective tax rate (as a percent)	23.90%	23.20%	23.50%	23.30%

FINANCIAL INSTRUMENTS - Generia

FINANCIAL INSTRUMENTS - Generial Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Interest Rate Derivatives
Maximum length of time of interest rate derivative instruments designated in cash flow hedge relationships	48 months
After-tax losses deferred in accumulated other comprehensive income that will be recognized in interest expense over the next 12 months	$ (421)

FINANCIAL INSTRUMENTS - Fair Ma

FINANCIAL INSTRUMENTS - Fair Market Value of Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Fair market value of derivatives
Derivative assets designated as hedging instruments, classified in other assets	$ 38,388		$ 38,388		$ 15,422
Derivative liabilities designated as hedging instruments, classified in accounts payable and other accrued liabilities	3,526		3,526		8,107
Interest rate derivatives, derivative assets not designated as hedging instruments, classified in other assets	806		806		1,157
Foreign exchange contracts, derivatives not designated as hedging instruments, classified in other assets					86
Derivative assets not designated as hedging instruments, classified in other assets	806		806		1,243
Interest rate derivatives, derivative not designated as hedging instruments, classified in accounts payable and other accrued liabilities	806		806		1,157
Foreign exchange contracts, derivatives not designated as hedging instruments, classified in accounts payable and other accrued liabilities	2,951		2,951
Derivative liabilities not designated as hedging instruments, classified in accounts payable and other accrued liabilities	3,757		3,757		1,157
Cash Flow Hedges, Recognized in accumulated other comprehensive income (loss), Interest rate derivatives	(1,328)	$ (33)	(3,739)	$ (83)
Cash Flow Hedges, Reclassified from accumulated other comprehensive Income (loss), Interest rate derivatives - Interest expense to third parties	115	81	357	(75)
Foreign exchange contracts, other expenses, not designated as hedges	3,463	$ (8,928)	3,193	(11,522)
Interest Rate Derivatives
Fair market value of derivatives
Total notional amount of interest rate derivatives	$ 2,809,628		2,809,628		$ 2,960,191
Seven-month average notional amounts of interest rate derivatives			$ 3,004,828	$ 2,887,445

FINANCIAL INSTRUMENTS - Items M

FINANCIAL INSTRUMENTS - Items Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Foreign exchange contracts		$ 86
Liabilities
Foreign exchange contracts	$ 2,951
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	39,194	16,579
Foreign exchange contracts		86
Total assets	39,194	16,665
Liabilities
Interest rate derivatives	4,332	9,264
Foreign exchange contracts	2,951
Total liabilities	$ 7,283	$ 9,264

FINANCIAL INSTRUMENTS - Carryin

FINANCIAL INSTRUMENTS - Carrying Amount and Estimated Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Financial Instruments Not Carried at Fair Value
Receivables	$ 10,189,998	$ 9,950,926
Long-term debt	6,300,528	6,259,839
Carrying Amount
Financial Instruments Not Carried at Fair Value
Receivables	10,189,998	9,950,926
Long-term debt	6,300,528	6,259,839
Estimated Fair Value
Financial Instruments Not Carried at Fair Value
Receivables	10,109,802	9,589,920
Long-term debt	$ 6,322,186	$ 6,149,778

GEOGRAPHICAL INFORMATION (Detai

GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Geographical Information
Revenues	$ 229,112	$ 226,141	$ 451,181	$ 452,512
Interest expense	85,247	78,804	173,628	157,232
Net income	37,784	47,628	76,995	87,431
Depreciation and amortization	56,153	57,117	117,575	119,331
Expenditures for equipment on operating leases	171,666	139,183	347,175	241,788
Provision (benefit) for credit losses	13,097	4,295	20,066	16,110	$ 31,699
Additional disclosures
Total assets	12,948,850		12,948,850		12,931,912
Managed receivables	10,267,608		10,267,608		10,025,338
Eliminations.
Geographical Information
Revenues	(2,661)	(2,404)	(3,976)	(4,265)
Interest expense	(2,661)	(2,404)	(3,976)	(4,265)
Additional disclosures
Total assets	(96,884)		(96,884)		(62,732)
United States
Geographical Information
Net income	25,247	30,705	54,015	53,639
Depreciation and amortization	45,511	45,987	95,902	96,701
Expenditures for equipment on operating leases	133,803	106,161	279,584	183,306
Provision (benefit) for credit losses	12,364	3,509	18,060	14,814
Additional disclosures
Managed receivables	8,099,647		8,099,647		8,080,756
United States | Operating segment
Geographical Information
Revenues	183,870	175,694	361,649	352,197
Interest expense	70,923	67,112	144,359	133,956
Additional disclosures
Total assets	10,328,274		10,328,274		10,482,805
Canada
Geographical Information
Net income	12,537	16,923	22,980	33,792
Depreciation and amortization	10,642	11,130	21,673	22,630
Expenditures for equipment on operating leases	37,863	33,022	67,591	58,482
Provision (benefit) for credit losses	733	786	2,006	1,296
Additional disclosures
Managed receivables	2,167,961		2,167,961		1,944,582
Canada | Operating segment
Geographical Information
Revenues	47,903	52,851	93,508	104,580
Interest expense	16,985	$ 14,096	33,245	$ 27,541
Additional disclosures
Total assets	$ 2,717,460		$ 2,717,460		$ 2,511,839

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
RELATED-PARTY TRANSACTIONS
Total interest and other income from affiliates	$ 88,992	$ 92,392	$ 173,245	$ 187,407
Affiliated receivables	12,666		12,666		$ 43,389
Affiliated debt	346,482		346,482		276,271
Other information
Tax receivable due from related party					39,174
Accounts payable and other accrued liabilities payable to related parties	55,803		55,803		4,740
Interest expense to related affiliates	258	2,784	3,423	4,376
Fees charged by affiliates	11,574	11,304	23,955	23,259
Gross receivables	10,267,608	10,039,146	10,267,608	10,039,146	10,025,338
Wholesale
Other information
Gross receivables	862,353		862,353		747,191
CNH Industrial North America
RELATED-PARTY TRANSACTIONS
Retail	40,317	37,081	79,513	76,497
Wholesale	32,370	34,767	62,380	68,850
Operating lease	15,059	15,411	30,065	31,006
Lending funds	40	150	81	762
CNH Industrial America
RELATED-PARTY TRANSACTIONS
Affiliated receivables					24,724
Affiliated debt	339,109		339,109		99,455
CNH Industrial Canada Ltd.
RELATED-PARTY TRANSACTIONS
Affiliated receivables	356		356		6,233
Affiliated debt	7,373		7,373		176,816
Iveco Argentina
RELATED-PARTY TRANSACTIONS
Wholesale factoring	1,206	$ 4,983	1,206	$ 10,292
Other affiliates
RELATED-PARTY TRANSACTIONS
Affiliated receivables	$ 12,310		$ 12,310		$ 12,432

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Jun. 30, 2019USD ($)
Guarantees
Payment guarantees on the financial debt of various foreign financial services subsidiaries	$ 30,000
Wholesale and dealer financing
Guarantees
Total credit limit	5,997,972
Utilized	$ 3,776,302

SUPPLEMENTAL CONDENSED CONSOL_3

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
REVENUES
Interest income on retail notes and finance leases	$ 57,112		$ 50,201		$ 112,580	$ 98,831
Interest income on wholesale notes	16,993		16,256		33,735	31,825
Interest and other income from affiliates	88,992		92,392		173,245	187,407
Rental income on operating leases	60,492		59,957		121,133	121,073
Other income	5,523		7,335		10,488	13,376
Total revenues	229,112		226,141		451,181	452,512
Interest expense:
Interest expense to third parties	84,989		76,020		170,205	152,856
Interest expense to affiliates	258		2,784		3,423	4,376
Total interest expense	85,247		78,804		173,628	157,232
Administrative and operating expenses:
Fees charged by affiliates	11,574		11,304		23,955	23,259
Provision (benefit) for credit losses	13,097		4,295		20,066	16,110
Depreciation of equipment on operating leases	55,680		56,569		116,600	118,254
Other expenses	13,832		13,119		16,259	23,684
Total administrative and operating expenses	94,183		85,287		176,880	181,307
Total expenses	179,430		164,091		350,508	338,539
Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method	49,682		62,050		100,673	113,973
Income tax provision (benefit)	11,898		14,422		23,678	26,542
NET INCOME	37,784	$ 39,211	47,628	$ 39,803	76,995	87,431
COMPREHENSIVE INCOME	46,056		30,665		92,095	52,652
Reportable Legal Entities | CNH Industrial Capital LLC
REVENUES
Interest and other income from affiliates	15,482		15,995		31,448	35,070
Total revenues	15,482		15,995		31,448	35,070
Interest expense:
Interest expense to third parties	52,749		25,821		100,226	64,011
Total interest expense	52,749		25,821		100,226	64,011
Administrative and operating expenses:
Other expenses	6		10		12	10
Total administrative and operating expenses	6		10		12	10
Total expenses	52,755		25,831		100,238	64,021
Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method	(37,273)		(9,836)		(68,790)	(28,951)
Income tax provision (benefit)	(9,100)		(2,382)		(16,796)	(7,012)
Equity in income of consolidated subsidiaries accounted for under the equity method	65,957		55,082		128,989	109,370
NET INCOME	37,784		47,628		76,995	87,431
COMPREHENSIVE INCOME	46,056		30,665		92,095	52,652
Reportable Legal Entities | Guarantor Entities
REVENUES
Interest income on retail notes and finance leases	7,708		1,706		13,631	5,760
Interest income on wholesale notes	(276)		(253)		(534)	(512)
Interest and other income from affiliates	52,420		53,572		102,509	106,258
Rental income on operating leases	47,253		46,338		94,256	93,416
Other income	21,172		23,244		42,027	45,872
Total revenues	128,277		124,607		251,889	250,794
Interest expense:
Interest expense to third parties	(16,733)		11,291		(28,086)	10,660
Interest expense to affiliates	12,120		57,740		57,643	105,348
Total interest expense	(4,613)		69,031		29,557	116,008
Administrative and operating expenses:
Fees charged by affiliates	11,131		10,914		22,993	22,398
Provision (benefit) for credit losses	5,366		23		8,732	2,911
Depreciation of equipment on operating leases	45,038		45,439		94,928	95,625
Other expenses	11,083		(1,657)		10,357	4,490
Total administrative and operating expenses	72,618		54,719		137,010	125,424
Total expenses	68,005		123,750		166,567	241,432
Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method	60,272		857		85,322	9,362
Income tax provision (benefit)	14,832		234		21,064	2,321
Equity in income of consolidated subsidiaries accounted for under the equity method	20,517		54,459		64,731	102,329
NET INCOME	65,957		55,082		128,989	109,370
COMPREHENSIVE INCOME	$ 74,229		38,119		$ 144,089	74,591
Reportable Legal Entities | CNH Industrial Capital America LLC
Condensed Statements of Comprehensive Income
Ownership percentage	100.00%				100.00%
Reportable Legal Entities | New Holland Credit Company LLC
Condensed Statements of Comprehensive Income
Ownership percentage	100.00%				100.00%
Reportable Legal Entities | All Other Subsidiaries
REVENUES
Interest income on retail notes and finance leases	$ 49,404		48,495		$ 98,949	93,071
Interest income on wholesale notes	17,269		16,509		34,269	32,337
Interest and other income from affiliates	36,572		80,234		70,736	157,368
Rental income on operating leases	13,239		13,619		26,877	27,657
Other income	652		930		1,173	1,539
Total revenues	117,136		159,787		232,004	311,972
Interest expense:
Interest expense to third parties	48,973		38,908		98,065	78,185
Interest expense to affiliates	3,620		2,453		(22,772)	10,317
Total interest expense	52,593		41,361		75,293	88,502
Administrative and operating expenses:
Fees charged by affiliates	16,744		17,229		33,674	34,896
Provision (benefit) for credit losses	7,731		4,272		11,334	13,199
Depreciation of equipment on operating leases	10,642		11,130		21,672	22,629
Other expenses	2,743		14,766		5,890	19,184
Total administrative and operating expenses	37,860		47,397		72,570	89,908
Total expenses	90,453		88,758		147,863	178,410
Income (loss) before income taxes and equity in income of consolidated subsidiaries accounted for under the equity method	26,683		71,029		84,141	133,562
Income tax provision (benefit)	6,166		16,570		19,410	31,233
NET INCOME	20,517		54,459		64,731	102,329
COMPREHENSIVE INCOME	27,633		39,644		76,907	72,062
Eliminations
REVENUES
Interest and other income from affiliates	(15,482)		(57,409)		(31,448)	(111,289)
Other income	(16,301)		(16,839)		(32,712)	(34,035)
Total revenues	(31,783)		(74,248)		(64,160)	(145,324)
Interest expense:
Interest expense to affiliates	(15,482)		(57,409)		(31,448)	(111,289)
Total interest expense	(15,482)		(57,409)		(31,448)	(111,289)
Administrative and operating expenses:
Fees charged by affiliates	(16,301)		(16,839)		(32,712)	(34,035)
Total administrative and operating expenses	(16,301)		(16,839)		(32,712)	(34,035)
Total expenses	(31,783)		(74,248)		(64,160)	(145,324)
Equity in income of consolidated subsidiaries accounted for under the equity method	(86,474)		(109,541)		(193,720)	(211,699)
NET INCOME	(86,474)		(109,541)		(193,720)	(211,699)
COMPREHENSIVE INCOME	$ (101,862)		$ (77,763)		$ (220,996)	$ (146,653)

SUPPLEMENTAL CONDENSED CONSOL_4

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 97,644		$ 160,328
Restricted cash and cash equivalents	488,562		639,543
Receivables, less allowance for credit losses	10,189,998		9,950,926
Affiliated accounts and notes receivable	12,666		43,389
Equipment on operating leases, net	1,724,634		1,724,217
Equipment held for sale	236,349		209,991
Goodwill and intangible assets, net	120,566		118,581
Other assets	78,431		84,937
TOTAL	12,948,850		12,931,912
Liabilities:
Short-term debt, including current maturities of long-term debt	4,197,425		4,324,292
Accounts payable and other accrued liabilities	781,330		715,778
Affiliated debt	346,482		276,271
Long-term debt	6,300,528		6,259,839
Total liabilities	11,625,765		11,576,180
Stockholder's equity	1,323,085	$ 1,401,935	1,355,732	$ 1,388,554	$ 1,377,793	$ 1,375,639
TOTAL	12,948,850		12,931,912
Eliminations
ASSETS
Affiliated accounts and notes receivable	(6,958,440)		(6,657,354)
Investments in consolidated subsidiaries accounted for under the equity method	(5,456,125)		(5,257,189)
Other assets	(3,567)		(3,401)
TOTAL	(12,418,132)		(11,917,944)
Liabilities:
Accounts payable and other accrued liabilities	(4,104,683)		(3,848,956)
Affiliated debt	(2,857,324)		(2,811,799)
Total liabilities	(6,962,007)		(6,660,755)
Stockholder's equity	(5,456,125)		(5,257,189)
TOTAL	(12,418,132)		(11,917,944)
CNH Industrial Capital LLC | Reportable Legal Entities
ASSETS
Affiliated accounts and notes receivable	2,120,366		2,310,137
Investments in consolidated subsidiaries accounted for under the equity method	2,940,396		2,796,050
Other assets	9,102		11,140
TOTAL	5,069,864		5,117,327
Liabilities:
Short-term debt, including current maturities of long-term debt	938,628		987,559
Accounts payable and other accrued liabilities	287,773		286,527
Long-term debt	2,520,378		2,487,509
Total liabilities	3,746,779		3,761,595
Stockholder's equity	1,323,085		1,355,732
TOTAL	5,069,864		5,117,327
Guarantor Entities | Reportable Legal Entities
ASSETS
Cash and cash equivalents	62,177		118,508
Receivables, less allowance for credit losses	1,513,793		1,472,678
Affiliated accounts and notes receivable	2,440,827		2,122,129
Equipment on operating leases, net	1,353,878		1,357,493
Equipment held for sale	216,716		192,772
Investments in consolidated subsidiaries accounted for under the equity method	2,515,729		2,461,139
Goodwill and intangible assets, net	92,695		91,754
Other assets	51,735		56,517
TOTAL	8,247,550		7,872,990
Liabilities:
Accounts payable and other accrued liabilities	3,232,811		3,035,024
Affiliated debt	2,074,343		2,041,926
Long-term debt			(10)
Total liabilities	5,307,154		5,076,940
Stockholder's equity	2,940,396		2,796,050
TOTAL	8,247,550		7,872,990
All Other Subsidiaries | Reportable Legal Entities
ASSETS
Cash and cash equivalents	35,467		41,820
Restricted cash and cash equivalents	488,562		639,543
Receivables, less allowance for credit losses	8,676,205		8,478,248
Affiliated accounts and notes receivable	2,409,913		2,268,477
Equipment on operating leases, net	370,756		366,724
Equipment held for sale	19,633		17,219
Goodwill and intangible assets, net	27,871		26,827
Other assets	21,161		20,681
TOTAL	12,049,568		11,859,539
Liabilities:
Short-term debt, including current maturities of long-term debt	3,258,797		3,336,733
Accounts payable and other accrued liabilities	1,365,429		1,243,183
Affiliated debt	1,129,463		1,046,144
Long-term debt	3,780,150		3,772,340
Total liabilities	9,533,839		9,398,400
Stockholder's equity	2,515,729		2,461,139
TOTAL	$ 12,049,568		$ 11,859,539

SUPPLEMENTAL CONDENSED CONSOL_5

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash from (used in) operating activities	$ 304,825	$ (302,641)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cost of receivables acquired	(5,539,579)	(5,411,526)
Collections of receivables	5,366,432	5,740,541
Purchase of equipment on operating leases, net	(126,358)	(19,662)
Change in property and equipment and software, net	(1,916)	(2,816)
Net cash from (used in) investing activities	(301,421)	306,537
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany activity	69,918	164,501
Net change in indebtedness	(161,987)	(356,807)
Dividend paid to CNH Industrial America LLC	(125,000)	(40,000)
Net cash from (used in) financing activities	(217,069)	(232,306)
DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(213,665)	(228,410)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	799,871	875,558
End of period	586,206	647,148
Eliminations
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash from (used in) operating activities	45,359	14,601
CASH FLOWS FROM INVESTING ACTIVITIES:
Cost of receivables acquired	3,659,309	3,415,835
Collections of receivables	(3,659,143)	(3,416,342)
Net cash from (used in) investing activities	166	(507)
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany activity	(45,525)	(14,094)
Net cash from (used in) financing activities	(45,525)	(14,094)
CNH Industrial Capital LLC | Reportable Legal Entities
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash from (used in) operating activities	141,062	60,887
CASH FLOWS FROM FINANCING ACTIVITIES:
Net change in indebtedness	(16,062)	(20,887)
Dividend paid to CNH Industrial America LLC	(125,000)	(40,000)
Net cash from (used in) financing activities	(141,062)	(60,887)
Guarantor Entities | Reportable Legal Entities
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash from (used in) operating activities	78,565	(401,722)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cost of receivables acquired	(4,272,656)	(4,019,429)
Collections of receivables	4,222,643	4,065,861
Purchase of equipment on operating leases, net	(115,394)	(330)
Change in property and equipment and software, net	(1,916)	(2,816)
Net cash from (used in) investing activities	(167,323)	43,286
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany activity	32,417	319,809
Net change in indebtedness	10	(24,411)
Net cash from (used in) financing activities	32,427	295,398
DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(56,331)	(63,038)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	118,508	160,339
End of period	62,177	97,301
All Other Subsidiaries | Reportable Legal Entities
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash from (used in) operating activities	39,839	23,593
CASH FLOWS FROM INVESTING ACTIVITIES:
Cost of receivables acquired	(4,926,232)	(4,807,932)
Collections of receivables	4,802,932	5,091,022
Purchase of equipment on operating leases, net	(10,964)	(19,332)
Net cash from (used in) investing activities	(134,264)	263,758
CASH FLOWS FROM FINANCING ACTIVITIES:
Intercompany activity	83,026	(141,214)
Net change in indebtedness	(145,935)	(311,509)
Net cash from (used in) financing activities	(62,909)	(452,723)
DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(157,334)	(165,372)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	681,363	715,219
End of period	$ 524,029	$ 549,847

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent event - 3.375% unsecured notes due 2019 $ in Thousands	Jul. 15, 2019USD ($)
Subsequent Events
Repayment of debt	$ 500,000
Interest rate (as a percent)	3.375%