CNH Industrial Capital 10-K 28 Feb 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Feb. 28, 2025
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2024
Entity File Number	000-55510
Entity Registrant Name	CNH INDUSTRIAL CAPITAL LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	39-1937630
Entity Address, Address Line One	5729 Washington Avenue
Entity Address, City or Town	Racine
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53406
City Area Code	262
Local Phone Number	636-6011
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float	$ 0
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Common Stock, Shares Outstanding			0
Entity Central Index Key	0001552493
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	DELOITTE & TOUCHE LLP	ERNST & YOUNG LLP
Auditor Firm ID	42	34
Auditor Location	Chicago, IL	Chicago, IL

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
REVENUES
Interest income on retail notes and finance leases	$ 368,001	$ 288,067	$ 216,528
Rental income on operating leases	238,824	237,178	248,335
Revolving charge account income	43,152	39,568
Interest income on wholesale notes	131,062	66,015	28,659
Interest and other income from affiliates	519,837	434,257	268,267
Other income	15,665	7,568	30,046
Total revenues	1,316,541	1,072,653	791,835
Interest expense:
Interest expense to third parties	697,651	500,493	232,446
Total interest expense	706,038	534,239	241,807
Administrative and operating expenses:
Provision for credit losses	49,158	11,579	11,241
Depreciation of equipment on operating leases	179,671	178,969	201,582
Other expenses, net	19,740	17,034	(3,655)
Total administrative and operating expenses	296,180	261,386	260,026
Total expenses	1,002,218	795,625	501,833
INCOME BEFORE TAXES	314,323	277,028	290,002
Income tax provision	67,624	61,956	70,880
NET INCOME	246,699	215,072	219,122
Related Party
Interest expense:
Interest expense to affiliates	8,387	33,746	9,361
Total interest expense	8,387	33,746	9,361
Administrative and operating expenses:
Fees charged by affiliates	$ 47,611	$ 53,804	$ 50,858

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$ 246,699	$ 215,072	$ 219,122
Other comprehensive income (loss):
Foreign currency translation adjustment	(37,088)	8,456	(38,636)
Pension liability adjustment	(1,739)	(757)	79
Change in derivative financial instruments	(2,312)	(7,174)	12,181
Total other comprehensive income (loss)	(41,139)	525	(26,376)
COMPREHENSIVE INCOME	$ 205,560	$ 215,597	$ 192,746

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Cash	$ 446,946	$ 390,110
Restricted cash and cash equivalents	386,397	407,817
Receivables, less allowance for credit losses of $129,983 and $114,745, respectively	13,992,556	13,455,717
Equipment on operating leases, net	1,422,001	1,378,384
Equipment held for sale	48,873	20,215
Goodwill	107,068	109,118
Other intangible assets, net	19,366	19,352
Other assets	102,416	108,147
TOTAL	16,926,908	15,963,527
Liabilities:
Short-term debt (including current maturities of long-term debt)	5,869,500	5,519,792
Accounts payable and other accrued liabilities	787,612	852,638
Long-term debt	8,666,627	7,859,629
Total liabilities	15,323,739	14,364,551
Commitments and contingent liabilities (Note 14)
Stockholder's equity:
Member's capital
Paid-in capital	918,335	919,702
Accumulated other comprehensive loss	(178,447)	(137,308)
Retained earnings	863,281	816,582
Total stockholder's equity	1,603,169	1,598,976
TOTAL	16,926,908	15,963,527
Related Party
ASSETS
Affiliated accounts and notes receivable	$ 401,285	74,667
Liabilities:
Affiliated debt		$ 132,492

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Allowance for credit losses	$ 129,983	$ 114,745
Restricted cash and cash equivalents	386,397	407,817
Receivables, less allowance for credit losses of $58,094 and $54,889, respectively	13,992,556	13,455,717
TOTAL	16,926,908	15,963,527
Short-term debt (including current maturities of long-term debt)	5,869,500	5,519,792
Long-term debt	8,666,627	7,859,629
Total liabilities	15,323,739	14,364,551
Consolidated variable interest entities ("VIEs")
Allowance for credit losses	58,094	54,889
Restricted cash and cash equivalents	386,397	407,817
Receivables, less allowance for credit losses of $58,094 and $54,889, respectively	8,851,145	8,103,838
TOTAL	9,237,542	8,511,655
Short-term debt (including current maturities of long-term debt)	4,169,748	3,824,385
Long-term debt	4,557,176	4,086,419
Total liabilities	$ 8,726,924	$ 7,910,804

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 246,699	$ 215,072	$ 219,122
Adjustments to reconcile net income to net cash from (used in) operating activities:
Depreciation on property and equipment and equipment on operating leases	179,678	178,977	201,590
Amortization of intangibles	3,012	2,939	2,159
Provision for credit losses	49,158	11,579	11,241
Deferred income tax benefit	(34,341)	(65,432)	(54,452)
Other non-cash items	59,035	53,012
Changes in components of working capital:
Change in affiliated accounts receivables	(96,768)	(15,143)	206,190
Change in other assets and equipment held for sale	(35,371)	(47,971)	39,577
Change in accounts payable and other accrued liabilities	(22,803)	(139,998)	69,939
Net cash from (used in) operating activities	348,299	193,035	695,366
CASH FLOWS FROM INVESTING ACTIVITIES
Cost of receivables acquired (retail customer, revolving charge accounts and wholesale)	(16,894,740)	(19,225,922)	(15,039,779)
Collections of receivables (retail customer, revolving charge accounts and wholesale)	16,125,424	16,551,962	13,101,247
Change in affiliated cash pooling receivables, net	(242,817)
Cost of affiliated notes receivables acquired		(14,000)
Collections of affiliated notes receivables	11,167	8,000
Purchase of equipment on operating leases	(618,396)	(521,144)	(517,623)
Proceeds from disposal of equipment on operating leases	341,501	444,004	533,330
Change in property, equipment and software, net	(3,025)	(3,904)	(4,094)
Net cash from (used in) investing activities	(1,280,886)	(2,761,004)	(1,926,919)
CASH FLOWS FROM FINANCING ACTIVITIES
Change in affiliated debt, net	(130,997)	(210,022)	355,182
Proceeds from issuance of long-term debt	6,176,950	4,597,046	3,749,914
Payment of long-term debt	(4,988,663)	(3,401,638)	(3,361,007)
Change in committed asset-backed facilities, net	(41,366)	1,382,643	1,127
Change in short-term borrowings, net	152,079	214,288	301,257
Dividends paid to CNH Industrial America LLC	(200,000)		(135,000)
Proceeds from capital contribution		75,000
Net cash from (used in) financing activities	968,003	2,657,317	911,473
INCREASE (DECREASE) IN CASH AND RESTRICTED CASH AND CASH EQUIVALENTS	35,416	89,348	(320,080)
CASH AND RESTRICTED CASH AND CASH EQUIVALENTS
Beginning of period	797,927	708,579	1,028,659
End of period	833,343	797,927	708,579
COMPONENTS OF CASH AND RESTRICTED CASH AND CASH EQUIVALENTS
Cash	446,946	390,110	262,244
Restricted cash and cash equivalents	386,397	407,817	446,335
TOTAL CASH AND RESTRICTED CASH AND CASH EQUIVALENTS	833,343	797,927	708,579
CASH PAID DURING THE PERIOD FOR INTEREST	678,286	513,170	227,868
CASH PAID DURING THE PERIOD FOR TAXES	$ 133,411	$ 100,687	$ 126,120

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, 2021	$ 843,469	$ (111,457)	$ 517,388	$ 1,249,400
Increase (Decrease) in Stockholder's Equity
Net income			219,122	219,122
Dividends paid to CNH Industrial America LLC			(135,000)	(135,000)
Foreign currency translation adjustment		(38,636)		(38,636)
Stock compensation	553			553
Pension liability adjustment, net of tax		79		79
Change in derivative financial instruments, net of tax		12,181		12,181
BALANCE at Dec. 31, 2022	844,022	(137,833)	601,510	1,307,699
Increase (Decrease) in Stockholder's Equity
Net income			215,072	215,072
Foreign currency translation adjustment		8,456		8,456
Stock compensation	680			680
Pension liability adjustment, net of tax		(757)		(757)
Change in derivative financial instruments, net of tax		(7,174)		(7,174)
Capital contribution	75,000			75,000
BALANCE at Dec. 31, 2023	919,702	(137,308)	816,582	1,598,976
Increase (Decrease) in Stockholder's Equity
Net income			246,699	246,699
Dividends paid to CNH Industrial America LLC			(200,000)	(200,000)
Foreign currency translation adjustment		(37,088)		(37,088)
Stock compensation	(1,367)			(1,367)
Pension liability adjustment, net of tax		(1,739)		(1,739)
Change in derivative financial instruments, net of tax		(2,312)		(2,312)
BALANCE at Dec. 31, 2024	$ 918,335	$ (178,447)	$ 863,281	$ 1,603,169

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2024
NATURE OF OPERATIONS
NATURE OF OPERATIONS	NOTE 1: NATURE OF OPERATIONS CNH Industrial Capital LLC and its primary operating subsidiaries, including New Holland Credit Company, LLC (“New Holland Credit”), CNH Industrial Capital America LLC (“CNH Capital America”) and CNH Industrial Capital Canada Ltd. (“CNH Capital Canada”) (collectively, “CNH Capital” or the “Company”), are each a subsidiary of CNH Industrial America LLC (“CNH America”), which is an indirect wholly-owned subsidiary of CNH Industrial N.V. (“CNH N.V.” and, together with its consolidated subsidiaries, “CNH”). CNH America and CNH Industrial Canada Ltd. (“CNH Canada”) (collectively, “CNH North America”) design, manufacture, and sell agricultural and construction equipment. CNH Capital provides financial services for CNH North America dealers and end-use customers primarily located in the United States and Canada. CNH N.V. is incorporated in and under the laws of the Netherlands. CNH N.V. has its corporate seat in Amsterdam, the Netherlands, and its principal office in Basildon, England, United Kingdom. The common shares of CNH N.V. are listed on the New York Stock Exchange under the symbol “CNH.” To support CNH North America’s sales of agricultural and construction equipment products, the Company offers retail note and lease financing to end-use customers for the purchase of new and used equipment and components sold through CNH North America’s dealer network, as well as revolving charge account financing and other financial services. CNH Capital also provides wholesale financing to CNH North America dealers and distributors, all of which are independently owned and operated. Retail financing products primarily include retail notes, finance leases and operating leases to end-use customers and revolving charge account financing for customers to purchase parts, service, rentals, implements and attachments from CNH North America dealers. Wholesale financing consists primarily of dealer floorplan financing, which gives dealers the ability to maintain a representative inventory of products. In addition, the Company also finances other products, including insurance and equipment protection products underwritten through a third-party insurer. As a captive finance company, the Company is reliant on the operations of CNH North America, its dealers and end-use customers.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The Company has prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the Company and its consolidated subsidiaries. The consolidated financial statements are expressed in U.S. dollars. The consolidated financial statements include the accounts of the Company’s subsidiaries in which the Company has a controlling financial interest and reflect the noncontrolling interests of the minority owners of the subsidiaries that are not fully owned for the periods presented, as applicable. A controlling financial interest may exist based on ownership of a majority of the voting interest of a subsidiary, or based on the Company’s determination that it is the primary beneficiary of a variable interest entity (“VIE”). The primary beneficiary of a VIE is the party that has the power to direct the activities that most significantly impact the economic performance of the entity and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entity. The Company assesses whether it is the primary beneficiary on an ongoing basis, as prescribed by the accounting guidance on the consolidation of VIEs. The consolidated status of the VIEs with which the Company is involved may change as a result of such reassessments. Certain prior period balances have been reclassified to conform to the current year presentation. These reclassifications did not have an impact on the Company’s results of operations or financial position as of December 31, 2024, 2023 and 2022. Use of Estimates in the Preparation of Financial Statements The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities and reported amounts of revenues and expenses. Significant estimates in these consolidated financial statements include the allowance for credit losses and residual values of equipment on operating leases. Actual results could differ from these estimates. Revenue Recognition Finance and interest income on receivables is recorded using the effective yield method. Deferred costs on the origination of financing receivables are recognized as a reduction in finance revenue over the expected lives of the receivables using the effective yield method. Recognition of income on receivables is suspended when management determines that collection of future income is not probable or when an account becomes 90 days past due, whichever occurs earlier. Income accrual is resumed if the receivable becomes contractually current and collection doubts are removed. Previously suspended income is recognized at that time. The Company applies cash received on nonaccrual financing receivables to first reduce any unrecognized interest and then the recorded investment and any other fees. A substantial portion of the Company’s interest income arises from retail sales programs offered by CNH North America on which finance charges are waived or below-market rate financing programs are offered. When the Company acquires retail notes and finance leases subject to below-market interest rates, including waived interest rate financing, the Company receives compensation from CNH North America based on the Company’s estimated costs and a targeted return on equity. This amount is initially recognized as an unearned finance charge and is recognized as interest income over the term of the retail customer receivables (as used herein, “retail customer receivables” refers primarily to retail notes and finance leases), and is included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. For selected wholesale receivables, CNH North America compensates the Company based on the Company’s estimated costs and a targeted return on equity. These amounts are included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. The Company is also compensated for lending funds to CNH North America. The amounts earned are included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. Income from operating leases is recognized over the term of the lease on a straight-line basis. For selected operating leases, CNH North America compensates the Company based on the Company’s estimated costs and a targeted return on equity. The amounts from CNH North America recognized as rental income on operating leases are included in “Interest and other income from affiliates.” Foreign Currency Translation The Company’s non-U.S. subsidiaries maintain their books and accounting records using local currency as the functional currency. Assets and liabilities of these non-U.S. subsidiaries are translated into U.S. dollars at period-end exchange rates, and net exchange gains or losses resulting from such translation are included in “Accumulated other comprehensive income” in the accompanying consolidated balance sheets. Income and expense accounts of these non-U.S. subsidiaries are translated at the average exchange rates for the period. Gains and losses from foreign currency transactions are included in net income in the period that they arise. Net foreign currency transaction gains and losses are reflected in “Other expenses, net” in the accompanying consolidated statements of income. Restricted Cash and Cash Equivalents Restricted cash includes principal and interest payments from retail notes and wholesale receivables owned by the consolidated VIEs that are payable to the VIEs’ investors, and cash pledged as a credit enhancement to the same investors. These amounts are held by depository banks in order to comply with contractual agreements. Restricted cash equivalents are highly liquid investments with an original maturity of one month or less. Receivables Receivables are recorded at amortized cost, net of allowances for credit losses and deferred fees and costs. Periodically, the Company sells or transfers retail notes and wholesale receivables to funding facilities or in securitization transactions. In accordance with the accounting guidance regarding transfers of financial assets and the consolidation of VIEs, the majority of the retail notes and wholesale receivables sold in securitizations do not qualify as sales and are recorded as secured borrowings with no gains or losses recognized at the time of securitization. Receivables associated with these securitization transactions and receivables that the Company has the ability and intent to hold for the foreseeable future are classified as held for investment. The substantial majority of the Company’s receivables, which include unrestricted receivables and restricted receivables for securitization investors, are classified as held for investment. Allowance for Credit Losses The allowance for credit losses is the Company’s estimate of the lifetime expected credit losses inherent in the receivables. Retail customer receivables primarily include retail notes and finance leases to end-use customers. Revolving charge accounts represent financing for customers to purchase parts, service, rentals, implements and attachments from CNH North America dealers. Wholesale receivables include dealer floorplan financing, and to a lesser extent, the financing of dealer operations. Typically, the Company’s receivables within a geographic area have similar risk profiles and methods for assessing and monitoring risk. Retail customer receivables that share the same risk characteristics such as, collateralization levels, geography, product type and other relevant factors are reviewed on a collective basis using measurement models and management judgment. The allowance for credit losses on retail customer receivables 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. The calculation is adjusted for forward-looking macroeconomic factors, such as GDP and Net Farm Income. The forward-looking macroeconomic factors are updated quarterly. In addition, qualitative factors that are not fully captured in the loss forecast models 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. Wholesale receivables that share the same risk characteristics such as, collateralization levels, term, geography and other relevant factors are reviewed on a collective basis using measurement models and management judgment. The allowance for 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. The calculation is adjusted for forward-looking macroeconomic factors, such as industry sales volumes. The forward-looking macroeconomic factors are updated quarterly. In addition, qualitative factors that are not fully captured in the loss forecast models 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. Retail customer receivables and wholesale receivables that do not have similar risk characteristics are individually reviewed based on, among other items, amounts outstanding, days past due and prior collection history. Expected credit losses are measured by considering: the probability-weighted estimates of cash flows and collateral value; the time value of money; current conditions and forecasts of future economic conditions. Expected credit losses are measured as the probability-weighted present value of all cash shortfalls (including the value of the collateral, if appropriate) over the expected life of each financial asset. Charge-offs of principal amounts of retail customer receivables and wholesale receivables outstanding are deducted from the allowance at the point when it is estimated that amounts due are deemed uncollectible. Revolving charge accounts are generally deemed to be uncollectible and charged off to the allowance for credit losses when delinquency reaches 120 days. Equipment on Operating Leases The Company purchases leases and equipment from CNH North America’s dealers and other independent third parties that have leased equipment to retail customers under operating leases. The Company’s investment in operating leases is based on the purchase price paid for the equipment. Income from these operating leases is recognized over the term of the lease. The equipment is depreciated on a straight-line basis over the term of the lease to the estimated residual value at lease termination. Residual values are estimated at the inception of the lease and are reviewed quarterly. Realization of the residual values is dependent on the Company’s future ability to re-market the equipment under then prevailing market conditions. Equipment model changes and updates, as well as market strength and product acceptance, are monitored and adjustments are made to residual values in accordance with the significance of any such changes. Management believes that the estimated residual values are realizable. Expenditures for maintenance and repairs are the responsibility of the lessee. The Company evaluates the carrying amount of equipment on operating leases for potential impairment when it determines a triggering event has occurred. When a triggering event occurs, a test for recoverability is performed comparing projected undiscounted future cash flows to the carrying amount of the asset. If the test for recoverability identifies a possible impairment, the asset’s fair value is measured in accordance with the fair value measurement framework. An impairment charge would be recognized for the amount by which the carrying amount of the asset exceeds its estimated fair value. Equipment returned to the Company upon termination of leases and held for subsequent sale or lease is recorded at the lower of net book value or estimated fair value of the equipment, less cost to sell, and is not depreciated. Matured operating lease inventory is reported in “Equipment held for sale.” Goodwill and Intangible Assets Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired. Goodwill is deemed to have an indefinite useful life and is reviewed for impairment at least annually. During 2024 and 2023, the Company performed its annual impairment review as of December 31, and concluded that there was no impairment in either year. Other intangible assets consist of software and are being amortized on a straight-line basis over ten years. Income Taxes The provision for income taxes is determined using the asset and liability method. The Company recognizes a current tax liability or asset for the estimated taxes payable or refundable on tax returns for the current year and tax contingencies estimated to be settled with taxing authorities within one year. A deferred tax liability or asset is recognized for the estimated future tax effects attributable to temporary differences and tax loss carryforwards. The measurement of current and deferred tax liabilities and assets is based on provisions of enacted tax law. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized based on available evidence. Derivatives The Company’s policy is to enter into derivative transactions to manage exposures that arise in the normal course of business and not for trading or speculative purposes. The Company records derivative financial instruments in the consolidated balance sheets as either an asset or liability measured at fair value. The fair value of the Company’s interest rate derivatives is based on discounting expected cash flows, using market interest rates, over the remaining term of the instrument. The fair value of the Company’s foreign exchange derivatives is based on quoted market exchange rates, adjusted for the respective interest rate differentials (premiums or discounts). Changes in the fair value of derivative financial instruments are recognized in current income unless specific hedge accounting criteria are met. For derivative financial instruments designated to hedge exposure to changes in the fair value of a recognized asset or liability, the gain or loss is recognized in income in the period of change together with the offsetting loss or gain on the related hedged item. For derivative financial instruments designated to hedge exposure to variable cash flows of a forecasted transaction, the gain or loss is initially reported in accumulated other comprehensive income and is subsequently reclassified into income when the forecasted transaction affects income. For derivative financial instruments that are not designated as hedges but held as economic hedges, the gain or loss is recognized immediately in income. The Company formally documents the hedging relationship to the hedged item and its risk management strategy for all derivative financial instruments designated as hedges. This includes linking all derivatives that are designated as fair value hedges to specific assets and liabilities contained in the consolidated balance sheets and linking cash flow hedges to specific forecasted transactions or variability of cash flow. The Company assesses the effectiveness of its hedging instruments both at inception and on an ongoing basis. If a derivative is determined not to be highly effective as a hedge, or the underlying hedged transaction is no longer probable of occurring, the hedge accounting described above is discontinued and the derivative is marked to fair value and recorded in income through the remainder of its term. New Accounting Pronouncements Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures New Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40)

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	12 Months Ended
	Dec. 31, 2024
ACCUMULATED OTHER COMPREHENSIVE INCOME
ACCUMULATED OTHER COMPREHENSIVE INCOME	NOTE 3: ACCUMULATED OTHER COMPREHENSIVE INCOME Accumulated other comprehensive income (“AOCI”) includes net income plus other comprehensive income, which includes foreign currency translation gains and losses, certain changes in pension plans and changes in fair value of certain derivatives designated as cash flow hedges. The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the year ended December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Currency ​ Pension ​ Unrealized ​ ​ ​ ​ ​ Translation ​ Liability ​ (Losses) Gains ​ ​ ​ ​ Adjustment (Asset) on Derivatives Total Beginning balance, gross $ (142,798) ​ $ 1,559 ​ $ 5,677 ​ $ (135,562) Tax liability ​ — ​ (373) ​ (1,373) ​ (1,746) Beginning balance, net of tax (142,798) ​ 1,186 ​ 4,304 ​ (137,308) Other comprehensive income (loss) before reclassifications ​ (37,088) ​ (1,696) ​ 173 ​ (38,611) Amounts reclassified from accumulated other comprehensive income (loss) ​ — ​ (602) ​ (3,218) ​ (3,820) Tax effects ​ — ​ 559 ​ 733 ​ 1,292 Net current-period other comprehensive income (loss) (37,088) ​ (1,739) ​ (2,312) ​ (41,139) Total $ (179,886) ​ $ (553) ​ $ 1,992 ​ $ (178,447) ​ The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the year ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Currency ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ Translation ​ Pension ​ (Losses) Gains ​ ​ ​ ​ Adjustment Liability on Derivatives Total Beginning balance, gross $ (151,254) ​ $ 2,563 ​ $ 15,288 ​ $ (133,403) Tax liability ​ — ​ (620) ​ (3,810) ​ (4,430) Beginning balance, net of tax (151,254) ​ 1,943 ​ 11,478 ​ (137,833) Other comprehensive income (loss) before reclassifications ​ 8,456 ​ (43) ​ (6,987) ​ 1,426 Amounts reclassified from accumulated other comprehensive income (loss) ​ — ​ (961) ​ (2,624) ​ (3,585) Tax effects ​ — ​ 247 ​ 2,437 ​ 2,684 Net current-period other comprehensive income (loss) 8,456 ​ (757) ​ (7,174) ​ 525 Total $ (142,798) ​ $ 1,186 ​ $ 4,304 ​ $ (137,308) ​ The reclassifications out of AOCI and the location on the consolidated statements of income for the years ended December 31, 2024 and 2023 were immaterial.

RECEIVABLES

RECEIVABLES	12 Months Ended
	Dec. 31, 2024
RECEIVABLES
RECEIVABLES	NOTE 4: RECEIVABLES A summary of receivables included in the consolidated balance sheets as of December 31, 2024 and 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 Retail notes $ 1,180,540 $ 1,291,559 Revolving charge accounts ​ 235,640 ​ 205,872 Finance leases ​ 233,621 ​ 219,386 Wholesale ​ 1,507,176 ​ 1,575,142 Restricted receivables ​ ​ 10,965,562 ​ ​ 10,278,503 Gross receivables 14,122,539 13,570,462 Less: Allowance for credit losses ​ (129,983) ​ (114,745) Total receivables, net $ 13,992,556 $ 13,455,717 ​ The Company provides and administers retail note and lease financing to end-use customers for the purchase of new and used equipment and components sold through CNH North America’s dealer network, as well as revolving charge account financing. The terms of retail customer receivables generally range from two Wholesale receivables arise primarily from dealer floorplan financing, and to a lesser extent, the financing of dealer operations. Under the standard terms of the wholesale receivable agreements, these receivables typically have interest-free periods of up to twelve months and stated original maturities of up to twenty-four Maturities of gross receivables as of December 31, 2024 are as follows: ​ ​ ​ ​ ​ 2025 $ 7,757,119 2026 ​ 2,095,326 2027 ​ 1,749,367 2028 ​ 1,361,547 2029 and thereafter ​ 1,159,180 Gross receivables $ 14,122,539 ​ It has been the Company’s experience that substantial portions of retail customer receivables are repaid before their contractual maturity dates. As a result, the above table should not be regarded as a forecast of future cash collections. Retail customer receivables, revolving charge accounts and wholesale receivables have significant concentrations of credit risk in the agricultural and construction business sectors. On a geographic basis, there is not a disproportionate concentration of credit risk in any area of the United States or Canada. The Company typically retains, as collateral, a security interest in the equipment associated with retail customer receivables and wholesale receivables, while revolving charge accounts are generally unsecured. Restricted Receivables and Securitization As part of its overall funding strategy, the Company periodically transfers certain receivables into bankruptcy-remote 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. 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 are consolidated since the Company has both the power to direct the activities that most significantly impact the SPEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the SPEs. Therefore, the SPEs do not meet the accounting criteria for deconsolidation. As a result, they are accounted for as a secured borrowing. The secured borrowings related to the restricted receivables are obligations that are payable as the receivables are collected. The following table summarizes the restricted receivables as of December 31, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Retail notes $ 7,625,647 ​ $ 6,693,525 Wholesale ​ 3,339,915 ​ 3,584,978 Total restricted receivables $ 10,965,562 ​ $ 10,278,503 ​ Retail Notes Securitizations Within the U.S. retail notes securitization programs, qualifying retail notes are sold to bankruptcy-remote SPEs. In turn, these SPEs establish separate trusts, which are VIEs, to either transfer receivables 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, qualifying retail notes are transferred directly to trusts, which are also VIEs. The VIEs are consolidated since the Company has both the power to direct the activities that most significantly impact the VIEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIEs. During the years ended December 31, 2024 and 2023, the Company executed $3,644,647 and $2,198,864, respectively, in term retail asset-backed transactions in the U.S. and Canada. The securities in these transactions are backed by agricultural and construction equipment retail notes originated through CNH North America’s dealer network. As of December 31, 2024 and 2023, $5,531,901 and $4,620,565, respectively, of asset-backed securities issued to investors were outstanding with weighted average remaining maturities of 43 months for both periods. The Company believes that it is probable that it will continue to regularly utilize the term ABS markets. The Company may retain all or a portion of the subordinated interests in the SPEs. No recourse provisions exist that allow holders of the asset-backed securities issued by the trusts to put those securities back to the Company although the Company provides customary representations and warranties that could give rise to an obligation to repurchase from the trusts any receivables for which there is a breach of the representations and warranties. Moreover, the Company does not guarantee any securities issued by the trusts. The trusts have a limited life and generally terminate upon final distribution of amounts owed to investors or upon exercise of a cleanup-call option by the Company, in its role as servicer. As of December 31, 2024, the Company also has $1,547,505 in committed asset-backed facilities through which it may sell on a monthly basis retail notes generated in the United States and Canada. The Company has utilized these facilities in the past to fund the origination of receivables and has later repurchased and resold the receivables in the term ABS markets or found alternative financing for the receivables. The U.S. and Canadian facilities had an original funding term of two years and are renewable in September 2026 and December 2026, respectively. To the extent these facilities are not renewed, they will be repaid according to the amortization of the underlying receivables. Wholesale Receivables Securitizations With regard to the wholesale receivable securitization programs, the Company sells eligible receivables on a revolving basis to structured master trust facilities, which are bankruptcy-remote SPEs. As of December 31, 2024, debt is issued through a U.S. master trust facility, consisting of three short-term series of $900,000, $400,000 and $300,000 and through a C$500,000 ($347,505) Canadian master trust facility. These trusts were determined to be VIEs. In its role as servicer, CNH 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 Capital has consolidated these wholesale trusts. Each of the facilities contains minimum payment rate thresholds that, if breached, could preclude the Company from selling additional receivables originated on a prospective basis and could force an early amortization of the debt. Allowance for Credit Losses The Company’s allowance for credit losses is segregated into three portfolio products: retail customer receivables, revolving charge accounts and wholesale receivables. A portfolio product is the level at which the Company develops a systematic methodology for determining its allowance for credit losses. Further, the class of receivables by which the Company evaluates its portfolio’s products is by geographic region. Typically, the Company’s receivables within a geographic area have similar risk profiles and methods for assessing and monitoring risk. The classes align with management reporting. Allowance for credit losses activity for the year ended December 31, 2024 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ Retail ​ Charge ​ ​ ​ ​ ​ ​ ​ ​ Customer ​ Accounts ​ Wholesale ​ Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance $ 101,649 $ 7,594 $ 5,502 ​ $ 114,745 Charge-offs ​ (31,918) ​ ​ (5,299) ​ — ​ ​ (37,217) Recoveries ​ 1,970 ​ ​ 662 ​ 1,578 ​ ​ 4,210 Provision (benefit) ​ 44,022 ​ ​ 4,692 ​ 444 ​ ​ 49,158 Foreign currency translation and other ​ (788) ​ ​ (46) ​ (79) ​ ​ (913) Ending balance $ 114,935 $ 7,603 $ 7,445 ​ $ 129,983 Gross receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance $ 9,039,808 $ 235,640 $ 4,847,091 ​ $ 14,122,539 At December 31, 2024, the allowance for credit losses increased due to higher specific reserve needs. Allowance for credit losses activity for the year ended December 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ Retail ​ Charge ​ ​ ​ ​ ​ ​ ​ ​ Customer ​ Accounts ​ Wholesale ​ Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance $ 110,341 $ 8,519 $ 6,152 ​ $ 125,012 Charge-offs ​ (17,624) ​ (6,512) ​ — ​ ​ (24,136) Recoveries ​ 1,785 ​ 221 ​ 26 ​ ​ 2,032 Provision ​ 6,920 ​ 5,354 ​ (695) ​ ​ 11,579 Foreign currency translation and other ​ 227 ​ 12 ​ 19 ​ ​ 258 Ending balance $ 101,649 $ 7,594 $ 5,502 ​ $ 114,745 Gross receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance $ 8,204,470 $ 205,872 $ 5,160,120 ​ $ 13,570,462 At December 31, 2023, the allowance for credit losses decreased due to lower specific reserve needs for retail customers and the continued strong outlook for the agricultural industry. Allowance for credit losses activity for the year ended December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ Retail ​ Charge ​ ​ ​ ​ ​ ​ ​ ​ Customer ​ Accounts ​ Wholesale ​ Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 109,742 $ — $ 6,211 ​ $ 115,953 Charge-offs ​ (8,202) ​ (49) ​ (4,631) ​ ​ (12,882) Recoveries ​ 2,262 ​ — ​ 526 ​ ​ 2,788 Provision ​ 7,311 ​ (169) ​ 4,099 ​ ​ 11,241 Foreign currency translation and other ​ (772) ​ 8,737 ​ (53) ​ ​ 7,912 Ending balance $ 110,341 $ 8,519 $ 6,152 ​ $ 125,012 Gross receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance $ 7,275,284 $ 207,744 $ 3,383,804 ​ $ 10,866,832 ​ At December 31, 2022, the allowance for credit losses included increases in reserves primarily due to the addition of revolving charge accounts. The Company assesses and monitors the credit quality of its receivables based on delinquency status. 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. As the terms for the retail customer receivables are greater than one year, the past due information is presented by year of origination. The aging of receivables by vintage as of December 31, 2024 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 31 – 60 Days ​ 61 – 90 Days ​ Than ​ Total ​ ​ ​ ​ Total ​ Gross ​ Past Due Past Due 90 Days Past Due Current Receivables Charge-offs Retail customer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ $ 11,150 ​ $ 2,177 ​ $ 2,530 ​ $ 15,857 ​ $ 3,396,385 ​ $ 3,412,242 ​ $ 1,168 2023 ​ ​ 14,713 ​ ​ 5,758 ​ ​ 11,439 ​ ​ 31,910 ​ ​ 1,899,459 ​ ​ 1,931,369 ​ ​ 9,538 2022 ​ ​ 10,027 ​ ​ 3,499 ​ ​ 9,858 ​ ​ 23,384 ​ ​ 1,200,888 ​ ​ 1,224,272 ​ ​ 7,902 2021 ​ ​ 6,764 ​ ​ 1,679 ​ ​ 4,865 ​ ​ 13,308 ​ ​ 610,425 ​ ​ 623,733 ​ ​ 4,107 2020 ​ ​ 3,037 ​ ​ 657 ​ ​ 30,779 ​ ​ 34,473 ​ ​ 202,608 ​ ​ 237,081 ​ ​ 2,552 Prior to 2020 ​ ​ 925 ​ ​ 430 ​ ​ 3,916 ​ ​ 5,271 ​ ​ 47,538 ​ ​ 52,809 ​ ​ 2,250 Total $ 46,616 ​ $ 14,200 ​ $ 63,387 ​ $ 124,203 ​ $ 7,357,303 ​ $ 7,481,506 ​ $ 27,517 Canada ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ $ 4,929 ​ $ 520 ​ $ 74 ​ $ 5,523 ​ $ 821,811 ​ $ 827,334 ​ $ 130 2023 ​ ​ 1,326 ​ ​ — ​ ​ 835 ​ ​ 2,161 ​ ​ 281,729 ​ ​ 283,890 ​ ​ 1,241 2022 ​ ​ 1,755 ​ ​ 731 ​ ​ 673 ​ ​ 3,159 ​ ​ 222,266 ​ ​ 225,425 ​ ​ 1,054 2021 ​ ​ 912 ​ ​ 123 ​ ​ 653 ​ ​ 1,688 ​ ​ 158,451 ​ ​ 160,139 ​ ​ 797 2020 ​ ​ 410 ​ ​ 68 ​ ​ 248 ​ ​ 726 ​ ​ 49,125 ​ ​ 49,851 ​ ​ 505 Prior to 2020 ​ ​ 23 ​ ​ 2 ​ ​ 33 ​ ​ 58 ​ ​ 11,605 ​ ​ 11,663 ​ ​ 674 Total $ 9,355 ​ $ 1,444 ​ $ 2,516 ​ $ 13,315 ​ $ 1,544,987 ​ $ 1,558,302 ​ $ 4,401 Revolving charge accounts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 6,303 ​ $ 2,447 ​ $ 1,360 ​ $ 10,110 ​ $ 209,241 ​ $ 219,351 ​ $ 4,993 Canada ​ $ 1,478 ​ $ 555 ​ $ 183 ​ $ 2,216 ​ $ 14,073 ​ $ 16,289 ​ $ 306 Wholesale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 22 ​ $ — ​ $ 225 ​ $ 247 ​ $ 3,858,213 ​ $ 3,858,460 ​ $ — Canada ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 988,631 ​ $ 988,631 ​ $ — Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail customer ​ $ 55,971 ​ $ 15,644 ​ $ 65,903 ​ $ 137,518 ​ $ 8,902,290 ​ $ 9,039,808 ​ $ 31,918 Revolving charge accounts ​ $ 7,781 ​ $ 3,002 ​ $ 1,543 ​ $ 12,326 ​ $ 223,314 ​ $ 235,640 ​ $ 5,299 Wholesale ​ $ 22 ​ $ — ​ $ 225 ​ $ 247 ​ $ 4,846,844 ​ $ 4,847,091 ​ $ — ​ The aging of receivables by vintage as of December 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 31 – 60 Days ​ 61 – 90 Days ​ Than ​ Total ​ ​ ​ ​ Total ​ Gross ​ Past Due Past Due 90 Days Past Due Current Receivables Charge-offs Retail customer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ $ 9,662 ​ $ 1,415 ​ $ 1,288 ​ $ 12,365 ​ $ 3,111,476 ​ $ 3,123,841 ​ $ 552 2022 ​ ​ 10,008 ​ ​ 2,583 ​ ​ 5,821 ​ ​ 18,412 ​ ​ 1,755,538 ​ ​ 1,773,950 ​ ​ 3,221 2021 ​ ​ 6,808 ​ ​ 2,118 ​ ​ 3,554 ​ ​ 12,480 ​ ​ 1,041,185 ​ ​ 1,053,665 ​ ​ 2,716 2020 ​ ​ 3,270 ​ ​ 1,106 ​ ​ 32,831 ​ ​ 37,207 ​ ​ 451,292 ​ ​ 488,499 ​ ​ 2,987 2019 ​ ​ 1,829 ​ ​ 529 ​ ​ 2,001 ​ ​ 4,359 ​ ​ 164,634 ​ ​ 168,993 ​ ​ 3,203 Prior to 2019 ​ ​ 631 ​ ​ 318 ​ ​ 3,831 ​ ​ 4,780 ​ ​ 56,779 ​ ​ 61,559 ​ ​ 2,849 Total $ 32,208 ​ $ 8,069 ​ $ 49,326 ​ $ 89,603 ​ $ 6,580,904 ​ $ 6,670,507 ​ $ 15,528 Canada ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ $ 647 ​ $ 149 ​ $ 420 ​ $ 1,216 ​ $ 667,887 ​ $ 669,103 ​ $ 78 2022 ​ ​ 2,395 ​ ​ 60 ​ ​ 1,236 ​ ​ 3,691 ​ ​ 395,757 ​ ​ 399,448 ​ ​ 941 2021 ​ ​ 1,090 ​ ​ 159 ​ ​ 2,361 ​ ​ 3,610 ​ ​ 291,974 ​ ​ 295,584 ​ ​ 964 2020 ​ ​ 755 ​ ​ — ​ ​ 320 ​ ​ 1,075 ​ ​ 113,630 ​ ​ 114,705 ​ ​ (227) 2019 ​ ​ 158 ​ ​ 14 ​ ​ 201 ​ ​ 373 ​ ​ 44,042 ​ ​ 44,415 ​ ​ 253 Prior to 2019 ​ ​ 126 ​ ​ 152 ​ ​ 366 ​ ​ 644 ​ ​ 10,064 ​ ​ 10,708 ​ ​ 87 Total $ 5,171 ​ $ 534 ​ $ 4,904 ​ $ 10,609 ​ $ 1,523,354 ​ $ 1,533,963 ​ $ 2,096 Revolving charge accounts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 6,036 ​ $ 2,422 ​ $ 1,089 ​ $ 9,547 ​ $ 182,728 ​ $ 192,275 ​ $ 5,993 Canada ​ $ 374 ​ $ 169 ​ $ 122 ​ $ 665 ​ $ 12,932 ​ $ 13,597 ​ $ 519 Wholesale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 4,271,583 ​ $ 4,271,583 ​ $ — Canada ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 888,537 ​ $ 888,537 ​ $ — Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail customer ​ $ 37,379 ​ $ 8,603 ​ $ 54,230 ​ $ 100,212 ​ $ 8,104,258 ​ $ 8,204,470 ​ $ 17,624 Revolving charge accounts ​ $ 6,410 ​ $ 2,591 ​ $ 1,211 ​ $ 10,212 ​ $ 195,660 ​ $ 205,872 ​ $ 6,512 Wholesale ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,160,120 ​ $ 5,160,120 ​ $ — ​ Included in the receivables balance at December 31, 2024 and 2023 is accrued interest of $100,325 and $83,879, respectively. The Company does not include accrued interest in its allowance for credit losses. Recognition of income is generally suspended when management determines that collection of future finance income is not probable or when an account becomes 90 days past due, whichever occurs first. Accrued interest is charged-off to interest income. Interest income charged-off was not material for the years ended December 31, 2024 and 2023. Interest accrual is resumed if the receivable becomes contractually current and collection becomes probable. Previously suspended income is recognized at that time. The retail customer receivables on nonaccrual status as of December 31, 2024 and 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 United States $ 74,795 $ 55,564 Canada ​ $ 3,818 ​ $ 5,321 ​ As of December 31, 2024 and 2023, total revolving charge account receivables on nonaccrual status were immaterial. As of December 31, 2024, there were $25,916 of wholesale receivables on nonaccrual status in the United States and no wholesale receivables on nonaccrual status in Canada. As of December 31, 2023, there were no wholesale receivables on nonaccrual status. As of December 31, 2024 and 2023, the Company’s receivables on non-accrual status without an allowance were immaterial. Interest income recognized for receivables on non-accrual status for the years ended December 31, 2024 and 2023 was immaterial. Modifications CNH Capital periodically modifies the terms of their receivable agreements with customers experiencing financial difficulties. Typically, the types of modifications granted are payment deferrals, extended contract maturities, modification of a contractual interest rate or waiving of interest and principal. As a collateral-based lender, CNH Capital has recourse to the financed assets on default. The Company continues to monitor the credit quality of these modified receivables. CNH Capital's allowance for credit losses incorporates historical loss information, including the effects of the modified receivables. Therefore, additional adjustments to the allowance are generally not recorded upon modification of the receivable. As of December 31, 2024 and 2023, modifications of CNH Capital's retail customer receivables and wholesale receivables for customers experiencing financial difficulties were immaterial. Defaults and subsequent write-offs of receivables modified in the prior twelve months were not significant during the full year 2024.

EQUIPMENT ON OPERATING LEASES

EQUIPMENT ON OPERATING LEASES	12 Months Ended
	Dec. 31, 2024
EQUIPMENT ON OPERATING LEASES
EQUIPMENT ON OPERATING LEASES	NOTE 5: EQUIPMENT ON OPERATING LEASES A summary of equipment on operating leases as of December 31, 2024 and 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Equipment on operating leases $ 1,777,248 ​ $ 1,735,626 Accumulated depreciation ​ (355,247) ​ (357,242) Total equipment on operating leases, net $ 1,422,001 ​ $ 1,378,384 ​ Depreciation expense totaled $179,671, $178,969 and $201,582 for the years ended December 31, 2024, 2023 and 2022, respectively. Lease payments owed to the Company for equipment under non-cancelable operating leases (excluding deferred operating lease subsidy of $85,222) as of December 31, 2024 are as follows: ​ ​ ​ ​ ​ ​ ​ 2025 $ 194,504 2026 ​ 135,585 2027 ​ 67,618 2028 ​ 27,117 2029 and thereafter ​ 7,832 Total lease payments $ 432,656 ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2024
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	NOTE 6: GOODWILL AND INTANGIBLE ASSETS Changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Balance, beginning of year $ 109,118 ​ $ 108,567 Foreign currency translation adjustment ​ (2,050) ​ 551 Balance, end of year $ 107,068 ​ $ 109,118 ​ Goodwill is tested for impairment at least annually. During 2024 and 2023, the Company performed its annual impairment review as of December 31 and concluded that there were no impairments in any year. As of December 31, 2024 and 2023, the Company’s intangible asset and related accumulated amortization for its software is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Software $ 53,181 ​ $ 50,155 Accumulated amortization ​ (33,815) ​ (30,803) Total software, net $ 19,366 ​ $ 19,352 ​ The Company recorded amortization expense of $3,012, $2,939 and $2,159 during 2024, 2023 and 2022, respectively. Based on the current amount of software subject to amortization, the estimated annual amortization expense for each of the succeeding five years is as follows: $2,243 in 2025; $1,978 in 2026; $1,573 in 2027; $1,381 in 2028; $1,089 in 2029; and $886 in 2030 and thereafter.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2024
OTHER ASSETS
OTHER ASSETS	NOTE 7: OTHER ASSETS The components of other assets as of December 31, 2024 and 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Derivative assets $ 37,380 ​ $ 55,654 Deferred tax assets ​ ​ 22,160 ​ ​ 17,772 Tax receivables ​ ​ 20,761 ​ ​ 10,260 Other current assets ​ 22,115 ​ 24,461 Total other assets $ 102,416 ​ $ 108,147 ​

CREDIT FACILITIES AND DEBT

CREDIT FACILITIES AND DEBT	12 Months Ended
	Dec. 31, 2024
CREDIT FACILITIES AND DEBT
CREDIT FACILITIES AND DEBT	NOTE 8: CREDIT FACILITIES AND DEBT The following table summarizes the Company’s debt and credit facilities, borrowings thereunder and availability at December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Maturities of ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ Short-Term ​ Long-Term ​ Long-Term ​ ​ ​ ​ Maturity (1) ​ Facility/Debt ​ Outstanding ​ Outstanding ​ Outstanding ​ Available Committed Asset-Backed Facilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail - U.S. Sep 2026 $ 1,200,000 ​ $ — ​ $ 192,268 ​ $ 813,740 ​ $ 193,992 Retail - Canada Dec 2026 347,505 ​ — ​ 46,621 ​ 210,129 ​ 90,755 Wholesale VFN - U.S. Various 1,600,000 ​ 1,600,000 ​ — ​ — ​ — Wholesale VFN - Canada Dec 2026 347,505 ​ 347,505 ​ — ​ — ​ — ​ ​ 3,495,010 ​ 1,947,505 ​ 238,889 ​ 1,023,869 ​ 284,747 Secured Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortizing retail term ABS - N.A. Various 5,531,901 ​ — ​ 1,983,354 ​ 3,548,547 ​ — Other ABS financing - N.A. Various 225,858 ​ — ​ 138,273 ​ 87,585 ​ — Repurchase agreement Sep 2025 ​ ​ 312,754 ​ ​ 312,754 ​ ​ — ​ ​ — ​ ​ — Unamortized issuance costs ​ (15,240) ​ — ​ — ​ (15,240) ​ — ​ ​ 6,055,273 ​ 312,754 ​ 2,121,627 ​ 3,620,892 ​ — Unsecured Facilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit lines Various 250,000 ​ 250,000 ​ — ​ — ​ — Revolving credit facilities Various ​ ​ 738,752 ​ ​ — ​ ​ — ​ ​ — ​ ​ 738,752 Unamortized issuance costs ​ ​ ​ (500) ​ ​ — ​ ​ — ​ ​ (500) ​ ​ — ​ ​ ​ 988,252 ​ ​ 250,000 ​ ​ — ​ ​ (500) ​ ​ 738,752 Unsecured Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial paper Various ​ ​ 100,000 ​ ​ 100,000 ​ ​ — ​ ​ — ​ ​ — Notes Various 4,964,510 ​ — ​ 900,000 ​ 4,064,510 ​ — Hedging effects, discounts and unamortized issuance costs ​ ​ ​ (43,419) ​ ​ (244) ​ ​ (1,031) ​ ​ (42,144) ​ ​ — ​ ​ 5,021,091 ​ 99,756 ​ 898,969 ​ 4,022,366 ​ — Total credit facilities and debt ​ $ 15,559,626 ​ $ 2,610,015 ​ $ 3,259,485 ​ $ 8,666,627 ​ $ 1,023,499 (1) Maturity dates reflect maturities of the credit facility, which may be different than the maturities of the advances under the facility. ​ A summary of the minimum annual repayments of long-term debt for 2026 and thereafter, determined as of December 31, 2024, is as follows: ​ ​ ​ ​ ​ 2026 $ 3,140,147 2027 ​ 2,034,038 2028 ​ 1,772,754 2029 ​ 1,609,549 2030 and thereafter ​ 110,139 Total $ 8,666,627 ​ The following table summarizes the Company’s credit facilities, borrowings thereunder and availability at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Maturities of ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ Short-Term ​ Long-Term ​ Long-Term ​ ​ ​ ​ Maturity (1) ​ Facility/Debt ​ Outstanding ​ Outstanding ​ Outstanding ​ Available Committed Asset-Backed Facilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail - U.S. Sep 2025 $ 1,000,000 ​ $ — ​ $ 227,598 ​ $ 772,052 ​ $ 350 Retail - Canada Dec 2025 377,339 ​ — ​ 74,265 ​ 303,074 ​ — Wholesale VFN - U.S. Various 1,550,000 ​ 1,550,000 ​ — ​ — ​ — Wholesale VFN - Canada Dec 2025 377,339 ​ 377,339 ​ — ​ — ​ — ​ ​ 3,304,678 ​ 1,927,339 ​ 301,863 ​ 1,075,126 ​ 350 Secured Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortizing retail term ABS - N.A. Various 4,620,565 ​ — ​ 1,595,183 ​ 3,025,382 ​ — Other ABS financing - N.A. Various 388,589 ​ — ​ 136,355 ​ 252,234 ​ — Repurchase agreement Sep 2024 ​ ​ 226,290 ​ ​ 226,290 ​ ​ — ​ ​ — ​ ​ — Unamortized issuance costs ​ ​ (14,089) ​ ​ — ​ ​ — ​ ​ (14,089) ​ ​ — ​ ​ 5,221,355 ​ 226,290 ​ 1,731,538 ​ 3,263,527 ​ — Unsecured Facilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit lines Various ​ 100,000 ​ ​ 100,000 ​ ​ — ​ ​ — ​ ​ — Revolving credit facilities Various ​ 716,404 ​ — ​ 150,936 ​ 165,468 ​ 400,000 Unamortized issuance costs ​ ​ ​ (556) ​ ​ — ​ ​ — ​ ​ (556) ​ ​ — ​ ​ ​ 815,848 ​ ​ 100,000 ​ ​ 150,936 ​ ​ 164,912 ​ ​ 400,000 Unsecured Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial paper Various ​ 351,000 ​ 351,000 ​ — ​ — ​ — Notes Various 4,128,275 ​ — ​ 726,404 ​ 3,401,871 ​ — Hedging effects, discounts and unamortized issuance costs ​ ​ ​ (41,385) ​ ​ (3,110) ​ ​ 7,532 ​ ​ (45,807) ​ ​ — ​ ​ 4,437,890 ​ 347,890 ​ 733,936 ​ 3,356,064 ​ — Total credit facilities and debt ​ $ 13,779,771 ​ $ 2,601,519 ​ $ 2,918,273 ​ $ 7,859,629 ​ $ 400,350 (1) Maturity dates reflect maturities of the credit facility, which may be different than the maturities of the advances under the facility. ​ Committed Asset-Backed Facilities The Company has access to committed asset-backed facilities with several banks through which it may sell its receivables. The Company utilizes retail facilities to fund the origination of retail notes and has exercised the option to periodically repurchase receivables and resell them in the term ABS markets (shown as “Amortizing retail term ABS - N.A.”) or found alternative financing for the receivables. Under these facilities, the maximum amount of proceeds that can be accessed at one time is $1,547,505. In addition, if the receivables sold are not repurchased by the Company, the related debt is paid only as the underlying receivables are collected. Such receivables have maturities not exceeding seven years. The Company believes it is probable that a majority of these receivables will be repurchased and resold in the ABS markets. Borrowings against these facilities accrue interest based on prevailing money market rates, plus an applicable margin. The Company finances a portion of its wholesale receivable portfolio with the issue of Variable Funding Notes (“VFNs”) which are privately subscribed by certain banks and asset-backed commercial paper conduits. These notes accrue interest based on prevailing money market rates, plus an applicable margin. Secured Debt Secured borrowings bear interest at either floating rates of SOFR plus an applicable margin or fixed rates. Repurchase Agreement The Company is a party to a Global Master Repurchase Agreement which expires in September 2025. As of December 31, 2024, the Company had sold, and not yet repurchased, C$450,000 ($312,754) of Canadian receivables under the repurchase agreement, with an obligation to repurchase such receivables in 30 days. The repurchase agreement is treated as financing arrangements for accounting purposes. Unsecured Credit Line, Facilities and Debt Committed and uncommitted unsecured facilities with banks as of December 31, 2024, totaled $988,252. 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 December 31, 2024, the Company had $249,500 outstanding under these credit facilities. The remaining available credit commitments are maintained primarily to provide backup liquidity for commercial paper borrowings. The Company's outstanding commercial paper totaled $99,756 as of December 31, 2024. As of December 31, 2024, the Company’s outstanding unsecured senior notes were as follows: ​ ​ ​ ​ Issued by CNH Industrial Capital LLC (the “U.S. Senior Notes”): (1) ​ ​ ​ 3.950% notes, due 2025 $ 500,000 5.450% notes, due 2025 ​ 400,000 1.875% notes, due 2026 ​ ​ 500,000 1.450% notes, due 2026 ​ ​ 600,000 4.500% notes, due 2027 ​ ​ 500,000 4.550% notes, due 2028 ​ ​ 600,000 5.500% notes, due 2029 ​ ​ 500,000 5.100% notes, due 2029 ​ ​ 600,000 Hedging, discounts and unamortized issuance costs ​ ​ (39,485) ​ ​ 4,160,515 Issued by CNH Industrial Capital Canada (the “Canadian Senior Notes”): (2) ​ ​ ​ 5.500% notes, due 2026 ​ 278,004 4.800% notes, due 2027 ​ ​ 278,004 4.000% notes, due 2028 ​ ​ 208,503 Discounts and unamortized issuance costs ​ ​ (3,691) ​ ​ 760,820 Total $ 4,921,335 (1) These notes, which are senior unsecured obligations of CNH Industrial Capital LLC, are guaranteed by CNH Capital America and New Holland Credit. (2) These notes, which are senior unsecured obligations of CNH Capital Canada, are guaranteed by CNH Industrial Capital LLC, CNH Capital America and New Holland Credit. On March 21, 2024, CNH Industrial Capital LLC completed an offering of $600,000 in aggregate principal amount of its 5.100% unsecured notes due 2029, with an issue price of 99.157%. On March 25, 2024, CNH Capital Canada completed a private placement offering of C$400,000 ($294,480) in aggregate principal amount of its 4.800% unsecured notes due 2027, with an issue price of 99.876%. On October 9, 2024, CNH Industrial Capital LLC completed an offering of $500,000 in aggregate principal amount of its 4.500% unsecured notes due 2027, with an issue price of 99.809%. On October 10, 2024, CNH Capital Canada completed a private placement offering of C$300,000 ($218,250) in aggregate principal amount of its 4.000% unsecured notes due 2028, with an issue price of 99.964%. Covenants The indentures and credit agreements governing the Company’s unsecured funding transactions contain covenants that restrict the Company’s ability and/or that of its subsidiaries to, among other things, incur additional debt, make certain investments, enter into certain types of transactions with affiliates, use assets as security in other transactions, enter into sale or leaseback transactions and/or sell certain assets or merge with or into other companies. Interest Rates The weighted-average interest rate on total short-term debt outstanding at December 31, 2024 and 2023 was 5.2% and 6.1%, respectively. The weighted-average interest rate on total long-term debt (including current maturities of long-term debt) at December 31, 2024 and 2023 was 4.5% and 4.3%, respectively. The average rate is calculated using the actual rates at December 31, 2024 and 2023, weighted by the amount of outstanding borrowings of each debt instrument. Support Agreement Effective as of September 29, 2013, in connection with the business combination transaction of CNH Global N.V., the former indirect parent of CNH Capital (“CNH Global”), with and into CNH N.V., CNH N.V, assumed all of CNH Global’s obligations under the support agreement, pursuant to which CNH N.V. has agreed to, among other things, (a) make cash capital contributions to the Company, to the extent necessary to cause the ratio of net earnings available for fixed charges to fixed charges to be not less than 1.05 for each fiscal quarter (with such ratio determined, on a consolidated basis and in accordance with U.S. GAAP, for such fiscal quarter and the immediately preceding three fiscal quarters taken as a whole), (b) generally maintain an ownership of at least 51% of the voting equity interests in the Company and (c) cause the Company to have, as of the end of any fiscal quarter, a consolidated tangible net worth of at least $50,000. The support agreement is not intended to be and is not a guarantee by CNH N.V. of any indebtedness or other obligation of the Company. The obligations of CNH N.V. to the Company pursuant to this support agreement are to the Company only and do not run to, and are not enforceable directly by, any creditor of the Company. The support agreement may be modified, amended or terminated, at CNH N.V.’s election, upon thirty days’ prior written notice to the Company and the rating agencies, if (a) the modification, amendment or termination would not result in a downgrade of the Company’s rated indebtedness; (b) the modification, amendment or notice of termination provides that the support agreement will continue in effect with respect to the Company’s rated indebtedness then outstanding; or (c) the Company has no long-term rated indebtedness outstanding.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
INCOME TAXES
INCOME TAXES	NOTE 9: INCOME TAXES The income and expenses of the Company and certain of its domestic subsidiaries are included in the consolidated income tax return of CNH Industrial U.S. Holdings, Inc., a wholly-owned subsidiary of CNH N.V. CNH Industrial U.S. Holdings, Inc. is the parent of Case New Holland Inc., who remains the parent of CNH America. The Company’s Canadian subsidiaries file separate income tax returns, as do certain domestic subsidiaries. The Company and certain of its domestic subsidiaries are LLCs and, as a result, incur no federal income tax liabilities on a stand-alone basis. However, for financial reporting, all income tax accounts in the consolidated financial statements have been reported as if the Company and relevant subsidiaries were taxpaying entities. The sources of income before taxes for the years ended December 31, 2024, 2023 and 2022 are as follows, with foreign defined as any income earned outside the United States: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Domestic $ 258,683 ​ $ 218,113 ​ $ 232,873 Foreign ​ 55,640 ​ 58,915 ​ 57,129 Income before taxes $ 314,323 ​ $ 277,028 ​ $ 290,002 ​ The provision for income taxes for the years ended December 31, 2024, 2023 and 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Current income tax expense: ​ ​ ​ ​ ​ ​ ​ ​ Domestic ​ $ 85,671 ​ $ 109,762 ​ $ 112,615 Foreign ​ 16,294 ​ 17,626 ​ 12,717 Total current income tax expense ​ 101,965 ​ ​ 127,388 ​ ​ 125,332 Deferred income tax benefit: ​ ​ ​ ​ ​ ​ ​ ​ Domestic ​ (28,442) ​ (59,051) ​ (55,494) Foreign ​ (5,899) ​ (6,381) ​ 1,042 Total deferred income tax benefit ​ (34,341) ​ ​ (65,432) ​ ​ (54,452) Total tax provision $ 67,624 ​ $ 61,956 ​ $ 70,880 ​ A reconciliation of CNH’s statutory and effective income tax rate for the years ended December 31, 2024, 2023 and 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Tax provision at statutory rate 21.0 % 21.0 % 21.0 % State taxes ​ 3.4 ​ 3.7 ​ 4.8 ​ Foreign taxes ​ (1.0) ​ (1.3) ​ (0.6) ​ Tax credits and incentives ​ (1.6) ​ (0.8) ​ (0.6) ​ Other ​ (0.3) ​ (0.2) ​ (0.2) ​ Total tax provision effective rate 21.5 % 22.4 % 24.4 % ​ The components of the Company’s net deferred tax liability as of December 31, 2024 and 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Deferred tax assets: ​ ​ ​ ​ ​ Pension, postretirement and post-employment benefits ​ $ 1,569 ​ $ 1,173 Marketing and sales incentive programs ​ 94,283 ​ 75,631 Allowance for credit losses ​ 25,513 ​ 23,122 Other accrued liabilities ​ 43,210 ​ 38,576 Tax loss and tax credit carry forwards ​ 1,702 ​ 1,812 Total deferred tax assets $ 166,277 ​ $ 140,314 Deferred tax liability: ​ ​ ​ ​ ​ Equipment on operating lease ​ ​ 249,765 ​ ​ 257,705 Net deferred tax liabilities $ (83,488) ​ $ (117,391) ​ Deferred taxes are provided to reflect timing differences between the financial and tax basis of assets and liabilities and tax carryforwards using currently enacted tax rates and laws. Management believes it is more likely than not the benefit of the deferred tax assets will be realized. Net deferred tax liabilities are reflected in the accompanying consolidated balance sheets as of December 31, 2024 and 2023 as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Deferred tax assets $ 22,160 ​ $ 17,772 Deferred tax liabilities ​ (105,648) ​ ​ (135,163) Net deferred tax liabilities $ (83,488) ​ $ (117,391) ​ For the years ended December 31, 2024, 2023 and 2022, there are no amounts of unrecognized tax benefits recorded. The Company has open tax years from 2015 to 2023. The Company does not believe the resolution of any outstanding tax examinations will have a material adverse effect on the Company’s financial position, results of operations or cash flows. At December 31, 2024, there are no material deferred tax liabilities on undistributed earnings of subsidiaries outside of the U.S.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2024
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS	NOTE 10: 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 — Level 2 — 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 sections describe 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 December 31, 2024, the maximum length of time over which the Company is hedging its interest rate exposure through the use of derivative instruments designated in cash flow hedge relationships is 52 months. As of December 31, 2024, the after-tax gains deferred in accumulated other comprehensive income (loss) that will be recognized in interest expense over the next 12 months are approximately ($2,780). 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 years ended December 31, 2024, 2023 and 2022. All of the Company’s interest rate derivatives 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 $4,749,748 and $4,428,285 at December 31, 2024 and 2023, respectively. The thirteen-month average notional amounts as of December 31, 2024 and 2023 were $4,042,108 and $3,803,373, 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, net” and are expected to offset the foreign exchange gains or losses on the exposures being managed. All of the Company’s foreign exchange derivatives are considered Level 2 as the fair value is calculated using market data input and can be compared to actively traded derivatives. Financial Statement Impact of the Company’s Derivatives The fair values of the Company’s derivatives as of December 31, 2024 and 2023 in the consolidated balance sheets are recorded as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 Derivatives Designated as Hedging Instruments ​ ​ ​ ​ ​ Other assets: ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 12,862 ​ $ 22,633 Accounts payable and other accrued liabilities: ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 21,087 ​ $ 32,579 Derivatives Not Designated as Hedging Instruments ​ ​ ​ ​ ​ Other assets: ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 21,522 ​ $ 30,420 Foreign exchange contracts ​ 2,996 ​ 2,601 Total $ 24,518 ​ $ 33,021 Accounts payable and other accrued liabilities: ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 21,522 ​ $ 30,420 ​ Pre-tax gains (losses) on the consolidated statements of income and comprehensive income related to the Company’s derivatives for the years ended December 31, 2024, 2023 and 2022 are recorded in the following accounts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in accumulated other comprehensive income (loss): ​ ​ ​ ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 173 ​ $ (6,987) ​ $ 17,334 Reclassified from accumulated other comprehensive income (loss): ​ ​ ​ ​ ​ ​ ​ ​ Interest rate derivatives—Interest expense to third parties ​ 3,218 ​ 2,624 ​ 1,090 Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts—Other expenses, net $ (2,492) ​ $ 1,828 ​ $ (5,784) ​ Items Measured at Fair Value on a Recurring Basis The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2024 and 2023, all of which are measured as Level 2: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Assets ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 34,384 ​ $ 53,053 Foreign exchange contracts ​ 2,996 ​ 2,601 Total assets $ 37,380 ​ $ 55,654 Liabilities ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 42,609 ​ $ 62,999 ​ There were no transfers between Level 1, Level 2 and Level 3 hierarchy levels during the periods presented. Items Measured at Fair Value on a Nonrecurring Basis The Company may be required, from time to time, to measure certain other financial assets at fair value on a nonrecurring basis in accordance with U.S. GAAP. These adjustments to fair value usually result from application of lower of cost or market accounting or impairment charges of individual assets. The Company had equipment held for sale carried at fair value of $48,873 and $20,215 as of December 31, 2024 and 2023, respectively. The fair market value of these assets was based on an internal valuation methodology, which used industry guide book values adjusted for recent remarketing history and was classified as Level 3 under the fair value hierarchy. Fair Value of Other Financial Instruments The carrying amount of cash, 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 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 December 31, 2024 and 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ Carrying Estimated Carrying Estimated ​ ​ Amount ​ Fair Value * ​ Amount ​ Fair Value * Receivables $ 13,992,556 ​ $ 14,040,507 ​ $ 13,455,717 ​ $ 13,224,506 Long-term debt ​ $ 8,666,627 ​ $ 8,654,374 ​ $ 7,859,629 ​ $ 7,739,874 * 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.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2024
SEGMENT INFORMATION
SEGMENT INFORMATION	NOTE 11: SEGMENT INFORMATION CNH Capital operates in a single reportable segment as a captive financial services company that underwrites, services and manages financing products for end use customers and dealers of CNH North America. CNH Capital’s revenue is primarily generated through the income of its portfolio and the income generated through marketing programs with CNH North America. The Company has identified CNH’s President of North America Financial Services as its Chief Operating Decision Maker (“CODM”). The CODM evaluates the performance of the Company and allocates resources based on net income that also is reported on the consolidated statements of income as net income. The measure of segment assets is reported on the consolidated balance sheets as total assets. Therefore, no additional segment information is presented. A summary of the Company’s segment net income is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 REVENUES ​ ​ ​ ​ ​ ​ ​ ​ Revenues and other income from third parties ​ $ 796,704 ​ $ 638,396 ​ $ 523,568 Interest and other income from affiliates ​ 519,837 ​ 434,257 ​ 268,267 Total revenues ​ 1,316,541 ​ ​ 1,072,653 ​ ​ 791,835 EXPENSES ​ ​ ​ ​ ​ ​ ​ ​ Interest expense to third parties ​ ​ 697,651 ​ ​ 500,493 ​ ​ 232,446 Interest expense to affiliates ​ ​ 8,387 ​ ​ 33,746 ​ ​ 9,361 Fees charged by affiliates ​ ​ 47,611 ​ ​ 53,804 ​ ​ 50,858 Provision for credit losses ​ ​ 49,158 ​ ​ 11,579 ​ ​ 11,241 Depreciation of equipment on operating leases ​ ​ 179,671 ​ ​ 178,969 ​ ​ 201,582 Gains on sale of used equipment ​ ​ (3,732) ​ ​ (16,896) ​ ​ (27,525) Other general and administrative ​ ​ 23,472 ​ ​ 33,930 ​ ​ 23,870 Income tax provision ​ 67,624 ​ 61,956 ​ 70,880 Total expenses ​ 1,069,842 ​ ​ 857,581 ​ ​ 572,713 SEGMENT NET INCOME ​ 246,699 ​ ​ 215,072 ​ ​ 219,122 Adjustments and reconciling items ​ ​ — ​ ​ — ​ ​ — NET INCOME $ 246,699 ​ $ 215,072 ​ $ 219,122 ​

GEOGRAPHICAL INFORMATION

GEOGRAPHICAL INFORMATION	12 Months Ended
	Dec. 31, 2024
GEOGRAPHICAL INFORMATION
GEOGRAPHICAL INFORMATION	NOTE 12: GEOGRAPHICAL INFORMATION A summary of the Company’s geographical information is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Revenues ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 1,064,569 ​ $ 860,081 ​ $ 626,754 Canada ​ 252,867 ​ 214,173 ​ 168,909 Eliminations ​ (895) ​ (1,601) ​ (3,828) Total $ 1,316,541 ​ $ 1,072,653 ​ $ 791,835 Interest expense ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 579,527 ​ $ 443,629 ​ $ 195,728 Canada ​ 127,406 ​ 92,211 ​ 49,907 Eliminations ​ (895) ​ (1,601) ​ (3,828) Total $ 706,038 ​ $ 534,239 ​ $ 241,807 Net income ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 201,454 ​ $ 167,403 ​ $ 175,752 Canada ​ 45,245 ​ 47,669 ​ 43,370 Total $ 246,699 ​ $ 215,072 ​ $ 219,122 Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 126,793 ​ $ 129,247 ​ $ 152,871 Canada ​ 55,897 ​ 52,669 ​ 50,878 Total $ 182,690 ​ $ 181,916 ​ $ 203,749 Expenditures for equipment on operating leases ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 453,511 ​ $ 354,015 ​ $ 354,817 Canada ​ 164,885 ​ 167,129 ​ 162,806 Total $ 618,396 ​ $ 521,144 ​ $ 517,623 Provision (benefit) for credit losses ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 44,643 ​ $ 12,897 ​ $ 9,978 Canada ​ 4,515 ​ (1,318) ​ 1,263 Total $ 49,158 ​ $ 11,579 ​ $ 11,241 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Total assets ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 13,987,559 ​ $ 13,034,959 ​ $ 10,712,413 Canada ​ 3,180,759 ​ 3,077,089 ​ 2,683,722 Eliminations ​ (241,410) ​ (148,521) ​ (216,656) Total $ 16,926,908 ​ $ 15,963,527 ​ $ 13,179,479 Gross receivables ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 11,559,317 ​ $ 11,134,365 ​ $ 8,758,694 Canada ​ 2,563,222 ​ 2,436,097 ​ 2,108,138 Total $ 14,122,539 ​ $ 13,570,462 ​ $ 10,866,832 ​ ​

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2024
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS	NOTE 13: RELATED-PARTY TRANSACTIONS The Company receives compensation from CNH North America for retail customer, wholesale and operating lease sales programs offered by CNH North America on which finance charges are waived or below market rate financing programs are offered. The Company receives compensation from CNH 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 North America. The summary of sources included in “Interest and other income from affiliates” in the accompanying consolidated statements of income at December 31, 2024, 2023 and 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Subsidy from CNH North America ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail customer ​ $ 220,180 ​ $ 140,195 ​ $ 123,874 Operating lease ​ 37,327 ​ 40,852 ​ 47,194 Revolving charge accounts ​ ​ 4,615 ​ ​ 4,106 ​ ​ — Wholesale ​ ​ 250,053 ​ ​ 242,062 ​ ​ 95,138 Income from affiliated receivables ​ ​ ​ ​ ​ ​ ​ ​ CNH North America ​ 4,412 ​ 3,430 ​ 713 Banco CNH Industrial Capital Brazil ​ ​ 2,464 ​ ​ 2,864 ​ ​ 983 Other affiliates ​ ​ 786 ​ ​ 748 ​ ​ 365 Total interest and other income from affiliates $ 519,837 ​ $ 434,257 ​ $ 268,267 ​ Interest expense to affiliates was $8,387, $33,746 and $9,361, respectively, for the years ended December 31, 2024, 2023 and 2022. Fees charged by affiliates were $47,611, $53,804 and $50,858 for the years ended December 31, 2024, 2023 and 2022, respectively, which amounts consist of payroll and other human resource services CNH America performs on behalf of the Company. As of December 31, 2024 and 2023, the Company had various accounts and notes receivable and debt with the following affiliates: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ Rate Maturity Amount Rate Maturity Amount Affiliated receivables ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CNH America Various ​ — ​ $ 317,587 0% ​ — ​ $ 13,377 CNH Canada Various ​ — ​ ​ 35,006 0% ​ — ​ ​ 704 Banco CNH Industrial Capital Brazil ​ Various ​ Various ​ ​ 36,182 ​ Various ​ Various ​ ​ 47,997 Other affiliates 0% ​ — ​ ​ 12,510 0% ​ — ​ ​ 12,589 Total affiliated receivables ​ ​ ​ ​ $ 401,285 ​ ​ ​ ​ ​ $ 74,667 Affiliated debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CNH America ​ — ​ — ​ $ — ​ 5.68% ​ 2024 ​ $ 86,234 CNH Canada ​ — ​ — ​ ​ — ​ 5.76% ​ 2024 ​ ​ 46,258 Total affiliated debt ​ ​ ​ ​ $ — ​ ​ ​ ​ $ 132,492 ​ Accounts payable and other accrued liabilities, including tax payables, of $50,915 and $82,621 were payable to related parties as of December 31, 2024 and 2023, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2024
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 14: 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 CNH N.V. for approximately $50,400. The guarantees are in effect for the term of the underlying funding facilities. Commitments As of December 31, 2024, the Company had various agreements, on an uncommitted basis, to extend credit for the following portfolios: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ Credit Limit ​ Utilized ​ Not Utilized Wholesale and dealer financing ​ $ 7,716,172 ​ $ 4,739,263 ​ $ 2,976,909 Revolving charge accounts ​ $ 2,705,600 ​ $ 239,915 ​ $ 2,465,685 ​

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Cybersecurity Risk Management A

Cybersecurity Risk Management And Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management Strategy And Governance [Abstract]
Cybersecurity Risk Management Processes For Assessing Identifying And Managing Threats [Text Block]	We assess, identify and manage risks from cybersecurity threats through CNH’s Information Technology Security and Compliance organization (“Cybersecurity Program”), which is part of CNH’s larger enterprise risk management framework. The Cybersecurity Program is currently overseen by the Audit Committee of the Board of Directors for CNH (the “CNH Audit Committee”) and is managed by CNH’s Chief Information Officer (the “CNH CIO”) and a dedicated CNH Chief Information Security Officer (the “CNH CISO”). The CNH CISO's organization has oversight of cybersecurity strategy, policy, standards, architecture and processes for the security of our enterprise network and, information assets. The CNH CISO’s organization monitors and manages, and works to identify and assess, cybersecurity risk through various technologies, resources, processes and policies that are updated to align with the changing threat landscape, our evolving business needs and global regulatory requirements. Our strategy includes risk assessments, risk and threat analysis, utilization of security tools, cybersecurity-related tabletop and phishing exercises designed to simulate cybersecurity incidents, and security awareness and technical security trainings. We use a range of defenses to help protect against cybersecurity threats and to work to secure our assets, reduce detection time and improve recoverability. These include the ongoing monitoring of our systems, including with the assistance of third-party vendors, conducting exercises with employees and senior management, including our executive officers, to promote awareness and improve internal processes. In addition, to promote security awareness throughout the Company, employees with an email address received training and access to security awareness materials in 2024. Further, we are implementing a program for the assessment and monitoring of security standards and control procedures for external suppliers and vendors. Under the Cybersecurity Program, cybersecurity matters are generally managed by a combination of functional groups that report to CNH N.V.’s global leadership team, as appropriate, on matters such as enterprise level cybersecurity initiatives, threat intelligence and product cybersecurity risks and remediations. CNH’s Board of Directors (the “CNH Board”) addresses our cybersecurity risk management as part of its general oversight function. The CNH Audit Committee is responsible for overseeing our key risks and controls relating to information systems, including our assessment and mitigation of material risks from cybersecurity threats. The CNH Audit Committee receives periodic reports, summaries or presentations related to cybersecurity threats, risk, mitigation and related processes from the CNH CIO and the CNH CISO. In addition, on at least an annual basis, the CNH Board receives reports, summaries or presentations from the CNH CIO and the CNH CISO related to cybersecurity threats, risk, mitigation and related processes. The CNH CISO maintains and periodically updates a Cybersecurity Incident Response Plan which is a guide to respond effectively and efficiently to cybersecurity incidents in a coordinated manner in the interest of minimizing the risk of harm to our customers, operations, partners, employees and third parties, consistent with our legal obligations. As of the date of this report, we do not believe that risks from cybersecurity threats have materially affected or are reasonably likely to materially affect our business strategy, results of operations or financial condition. However, we recognize the ever-evolving cyber risk landscape and cannot provide any assurances that we will not be subject to a material cybersecurity incident in the future. For a description of risks related to our information technology systems, including cybersecurity threats, see Item 1A, “Risk Factors.”
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The CNH CISO’s organization monitors and manages, and works to identify and assess, cybersecurity risk through various technologies, resources, processes and policies that are updated to align with the changing threat landscape, our evolving business needs and global regulatory requirements. Our strategy includes risk assessments, risk and threat analysis, utilization of security tools, cybersecurity-related tabletop and phishing exercises designed to simulate cybersecurity incidents, and security awareness and technical security trainings.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight And Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected Or Reasonably Likely To Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board Of Directors Oversight [Text Block]	CNH’s Board of Directors (the “CNH Board”) addresses our cybersecurity risk management as part of its general oversight function. The CNH Audit Committee is responsible for overseeing our key risks and controls relating to information systems, including our assessment and mitigation of material risks from cybersecurity threats. The CNH Audit Committee receives periodic reports, summaries or presentations related to cybersecurity threats, risk, mitigation and related processes from the CNH CIO and the CNH CISO. In addition, on at least an annual basis, the CNH Board receives reports, summaries or presentations from the CNH CIO and the CNH CISO related to cybersecurity threats, risk, mitigation and related processes.
Cybersecurity Risk Board Committee Or Subcommittee Responsible For Oversight [Text Block]	CNH Audit Committee
Cybersecurity Risk Process For Informing Board Committee Or Subcommittee Responsible For Oversight [Text Block]	The CNH Audit Committee receives periodic reports, summaries or presentations related to cybersecurity threats, risk, mitigation and related processes from the CNH CIO and the CNH CISO. In addition, on at least an annual basis, the CNH Board receives reports, summaries or presentations from the CNH CIO and the CNH CISO related to cybersecurity threats, risk, mitigation and related processes.
Cybersecurity Risk Role Of Management [Text Block]	The Cybersecurity Program is currently overseen by the Audit Committee of the Board of Directors for CNH (the “CNH Audit Committee”) and is managed by CNH’s Chief Information Officer (the “CNH CIO”) and a dedicated CNH Chief Information Security Officer (the “CNH CISO”). The CNH CISO's organization has oversight of cybersecurity strategy, policy, standards, architecture and processes for the security of our enterprise network and, information assets. The CNH CISO’s organization monitors and manages, and works to identify and assess, cybersecurity risk through various technologies, resources, processes and policies that are updated to align with the changing threat landscape, our evolving business needs and global regulatory requirements. Our strategy includes risk assessments, risk and threat analysis, utilization of security tools, cybersecurity-related tabletop and phishing exercises designed to simulate cybersecurity incidents, and security awareness and technical security trainings.
Cybersecurity Risk Management Positions Or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions Or Committees Responsible [Text Block]	Chief Information Officer
Cybersecurity Risk Process For Informing Management Or Committees Responsible [Text Block]	Under the Cybersecurity Program, cybersecurity matters are generally managed by a combination of functional groups that report to CNH N.V.’s global leadership team, as appropriate, on matters such as enterprise level cybersecurity initiatives, threat intelligence and product cybersecurity risks and remediations.
Cybersecurity Risk Management Positions Or Committees Responsible Report To Board [Flag]	true

NEW ACCOUNTING PRONOUNCEMENTS (

NEW ACCOUNTING PRONOUNCEMENTS (Policies)	12 Months Ended
	Dec. 31, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The Company has prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the Company and its consolidated subsidiaries. The consolidated financial statements are expressed in U.S. dollars. The consolidated financial statements include the accounts of the Company’s subsidiaries in which the Company has a controlling financial interest and reflect the noncontrolling interests of the minority owners of the subsidiaries that are not fully owned for the periods presented, as applicable. A controlling financial interest may exist based on ownership of a majority of the voting interest of a subsidiary, or based on the Company’s determination that it is the primary beneficiary of a variable interest entity (“VIE”). The primary beneficiary of a VIE is the party that has the power to direct the activities that most significantly impact the economic performance of the entity and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entity. The Company assesses whether it is the primary beneficiary on an ongoing basis, as prescribed by the accounting guidance on the consolidation of VIEs. The consolidated status of the VIEs with which the Company is involved may change as a result of such reassessments. Certain prior period balances have been reclassified to conform to the current year presentation. These reclassifications did not have an impact on the Company’s results of operations or financial position as of December 31, 2024, 2023 and 2022.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities and reported amounts of revenues and expenses. Significant estimates in these consolidated financial statements include the allowance for credit losses and residual values of equipment on operating leases. Actual results could differ from these estimates.
Revenue Recognition	Revenue Recognition Finance and interest income on receivables is recorded using the effective yield method. Deferred costs on the origination of financing receivables are recognized as a reduction in finance revenue over the expected lives of the receivables using the effective yield method. Recognition of income on receivables is suspended when management determines that collection of future income is not probable or when an account becomes 90 days past due, whichever occurs earlier. Income accrual is resumed if the receivable becomes contractually current and collection doubts are removed. Previously suspended income is recognized at that time. The Company applies cash received on nonaccrual financing receivables to first reduce any unrecognized interest and then the recorded investment and any other fees. A substantial portion of the Company’s interest income arises from retail sales programs offered by CNH North America on which finance charges are waived or below-market rate financing programs are offered. When the Company acquires retail notes and finance leases subject to below-market interest rates, including waived interest rate financing, the Company receives compensation from CNH North America based on the Company’s estimated costs and a targeted return on equity. This amount is initially recognized as an unearned finance charge and is recognized as interest income over the term of the retail customer receivables (as used herein, “retail customer receivables” refers primarily to retail notes and finance leases), and is included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. For selected wholesale receivables, CNH North America compensates the Company based on the Company’s estimated costs and a targeted return on equity. These amounts are included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. The Company is also compensated for lending funds to CNH North America. The amounts earned are included in “Interest and other income from affiliates” in the accompanying consolidated statements of income. Income from operating leases is recognized over the term of the lease on a straight-line basis. For selected operating leases, CNH North America compensates the Company based on the Company’s estimated costs and a targeted return on equity. The amounts from CNH North America recognized as rental income on operating leases are included in “Interest and other income from affiliates.”
Foreign Currency Translation	Foreign Currency Translation The Company’s non-U.S. subsidiaries maintain their books and accounting records using local currency as the functional currency. Assets and liabilities of these non-U.S. subsidiaries are translated into U.S. dollars at period-end exchange rates, and net exchange gains or losses resulting from such translation are included in “Accumulated other comprehensive income” in the accompanying consolidated balance sheets. Income and expense accounts of these non-U.S. subsidiaries are translated at the average exchange rates for the period. Gains and losses from foreign currency transactions are included in net income in the period that they arise. Net foreign currency transaction gains and losses are reflected in “Other expenses, net” in the accompanying consolidated statements of income.
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents Restricted cash includes principal and interest payments from retail notes and wholesale receivables owned by the consolidated VIEs that are payable to the VIEs’ investors, and cash pledged as a credit enhancement to the same investors. These amounts are held by depository banks in order to comply with contractual agreements. Restricted cash equivalents are highly liquid investments with an original maturity of one month or less.
Receivables and Allowance for Credit Losses	Receivables Receivables are recorded at amortized cost, net of allowances for credit losses and deferred fees and costs. Periodically, the Company sells or transfers retail notes and wholesale receivables to funding facilities or in securitization transactions. In accordance with the accounting guidance regarding transfers of financial assets and the consolidation of VIEs, the majority of the retail notes and wholesale receivables sold in securitizations do not qualify as sales and are recorded as secured borrowings with no gains or losses recognized at the time of securitization. Receivables associated with these securitization transactions and receivables that the Company has the ability and intent to hold for the foreseeable future are classified as held for investment. The substantial majority of the Company’s receivables, which include unrestricted receivables and restricted receivables for securitization investors, are classified as held for investment. Allowance for Credit Losses The allowance for credit losses is the Company’s estimate of the lifetime expected credit losses inherent in the receivables. Retail customer receivables primarily include retail notes and finance leases to end-use customers. Revolving charge accounts represent financing for customers to purchase parts, service, rentals, implements and attachments from CNH North America dealers. Wholesale receivables include dealer floorplan financing, and to a lesser extent, the financing of dealer operations. Typically, the Company’s receivables within a geographic area have similar risk profiles and methods for assessing and monitoring risk. Retail customer receivables that share the same risk characteristics such as, collateralization levels, geography, product type and other relevant factors are reviewed on a collective basis using measurement models and management judgment. The allowance for credit losses on retail customer receivables 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. The calculation is adjusted for forward-looking macroeconomic factors, such as GDP and Net Farm Income. The forward-looking macroeconomic factors are updated quarterly. In addition, qualitative factors that are not fully captured in the loss forecast models 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. Wholesale receivables that share the same risk characteristics such as, collateralization levels, term, geography and other relevant factors are reviewed on a collective basis using measurement models and management judgment. The allowance for 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. The calculation is adjusted for forward-looking macroeconomic factors, such as industry sales volumes. The forward-looking macroeconomic factors are updated quarterly. In addition, qualitative factors that are not fully captured in the loss forecast models 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. Retail customer receivables and wholesale receivables that do not have similar risk characteristics are individually reviewed based on, among other items, amounts outstanding, days past due and prior collection history. Expected credit losses are measured by considering: the probability-weighted estimates of cash flows and collateral value; the time value of money; current conditions and forecasts of future economic conditions. Expected credit losses are measured as the probability-weighted present value of all cash shortfalls (including the value of the collateral, if appropriate) over the expected life of each financial asset. Charge-offs of principal amounts of retail customer receivables and wholesale receivables outstanding are deducted from the allowance at the point when it is estimated that amounts due are deemed uncollectible. Revolving charge accounts are generally deemed to be uncollectible and charged off to the allowance for credit losses when delinquency reaches 120 days.
Equipment on Operating Leases	Equipment on Operating Leases The Company purchases leases and equipment from CNH North America’s dealers and other independent third parties that have leased equipment to retail customers under operating leases. The Company’s investment in operating leases is based on the purchase price paid for the equipment. Income from these operating leases is recognized over the term of the lease. The equipment is depreciated on a straight-line basis over the term of the lease to the estimated residual value at lease termination. Residual values are estimated at the inception of the lease and are reviewed quarterly. Realization of the residual values is dependent on the Company’s future ability to re-market the equipment under then prevailing market conditions. Equipment model changes and updates, as well as market strength and product acceptance, are monitored and adjustments are made to residual values in accordance with the significance of any such changes. Management believes that the estimated residual values are realizable. Expenditures for maintenance and repairs are the responsibility of the lessee. The Company evaluates the carrying amount of equipment on operating leases for potential impairment when it determines a triggering event has occurred. When a triggering event occurs, a test for recoverability is performed comparing projected undiscounted future cash flows to the carrying amount of the asset. If the test for recoverability identifies a possible impairment, the asset’s fair value is measured in accordance with the fair value measurement framework. An impairment charge would be recognized for the amount by which the carrying amount of the asset exceeds its estimated fair value. Equipment returned to the Company upon termination of leases and held for subsequent sale or lease is recorded at the lower of net book value or estimated fair value of the equipment, less cost to sell, and is not depreciated. Matured operating lease inventory is reported in “Equipment held for sale.”
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired. Goodwill is deemed to have an indefinite useful life and is reviewed for impairment at least annually. During 2024 and 2023, the Company performed its annual impairment review as of December 31, and concluded that there was no impairment in either year. Other intangible assets consist of software and are being amortized on a straight-line basis over ten years.
Income Taxes	Income Taxes The provision for income taxes is determined using the asset and liability method. The Company recognizes a current tax liability or asset for the estimated taxes payable or refundable on tax returns for the current year and tax contingencies estimated to be settled with taxing authorities within one year. A deferred tax liability or asset is recognized for the estimated future tax effects attributable to temporary differences and tax loss carryforwards. The measurement of current and deferred tax liabilities and assets is based on provisions of enacted tax law. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized based on available evidence.
Derivatives	Derivatives The Company’s policy is to enter into derivative transactions to manage exposures that arise in the normal course of business and not for trading or speculative purposes. The Company records derivative financial instruments in the consolidated balance sheets as either an asset or liability measured at fair value. The fair value of the Company’s interest rate derivatives is based on discounting expected cash flows, using market interest rates, over the remaining term of the instrument. The fair value of the Company’s foreign exchange derivatives is based on quoted market exchange rates, adjusted for the respective interest rate differentials (premiums or discounts). Changes in the fair value of derivative financial instruments are recognized in current income unless specific hedge accounting criteria are met. For derivative financial instruments designated to hedge exposure to changes in the fair value of a recognized asset or liability, the gain or loss is recognized in income in the period of change together with the offsetting loss or gain on the related hedged item. For derivative financial instruments designated to hedge exposure to variable cash flows of a forecasted transaction, the gain or loss is initially reported in accumulated other comprehensive income and is subsequently reclassified into income when the forecasted transaction affects income. For derivative financial instruments that are not designated as hedges but held as economic hedges, the gain or loss is recognized immediately in income. The Company formally documents the hedging relationship to the hedged item and its risk management strategy for all derivative financial instruments designated as hedges. This includes linking all derivatives that are designated as fair value hedges to specific assets and liabilities contained in the consolidated balance sheets and linking cash flow hedges to specific forecasted transactions or variability of cash flow. The Company assesses the effectiveness of its hedging instruments both at inception and on an ongoing basis. If a derivative is determined not to be highly effective as a hedge, or the underlying hedged transaction is no longer probable of occurring, the hedge accounting described above is discontinued and the derivative is marked to fair value and recorded in income through the remainder of its term.
New Accounting Pronouncements Adopted	New Accounting Pronouncements Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures
New Accounting Pronouncements Not Yet Adopted	New Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40)

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	12 Months Ended
	Dec. 31, 2024
ACCUMULATED OTHER COMPREHENSIVE INCOME
Schedule of changes in the components of AOCI and related tax effects	The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the year ended December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Currency ​ Pension ​ Unrealized ​ ​ ​ ​ ​ Translation ​ Liability ​ (Losses) Gains ​ ​ ​ ​ Adjustment (Asset) on Derivatives Total Beginning balance, gross $ (142,798) ​ $ 1,559 ​ $ 5,677 ​ $ (135,562) Tax liability ​ — ​ (373) ​ (1,373) ​ (1,746) Beginning balance, net of tax (142,798) ​ 1,186 ​ 4,304 ​ (137,308) Other comprehensive income (loss) before reclassifications ​ (37,088) ​ (1,696) ​ 173 ​ (38,611) Amounts reclassified from accumulated other comprehensive income (loss) ​ — ​ (602) ​ (3,218) ​ (3,820) Tax effects ​ — ​ 559 ​ 733 ​ 1,292 Net current-period other comprehensive income (loss) (37,088) ​ (1,739) ​ (2,312) ​ (41,139) Total $ (179,886) ​ $ (553) ​ $ 1,992 ​ $ (178,447) ​ The following table summarizes the change in the components of the Company’s AOCI balance and related tax effects for the year ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Currency ​ ​ ​ ​ Unrealized ​ ​ ​ ​ ​ Translation ​ Pension ​ (Losses) Gains ​ ​ ​ ​ Adjustment Liability on Derivatives Total Beginning balance, gross $ (151,254) ​ $ 2,563 ​ $ 15,288 ​ $ (133,403) Tax liability ​ — ​ (620) ​ (3,810) ​ (4,430) Beginning balance, net of tax (151,254) ​ 1,943 ​ 11,478 ​ (137,833) Other comprehensive income (loss) before reclassifications ​ 8,456 ​ (43) ​ (6,987) ​ 1,426 Amounts reclassified from accumulated other comprehensive income (loss) ​ — ​ (961) ​ (2,624) ​ (3,585) Tax effects ​ — ​ 247 ​ 2,437 ​ 2,684 Net current-period other comprehensive income (loss) 8,456 ​ (757) ​ (7,174) ​ 525 Total $ (142,798) ​ $ 1,186 ​ $ 4,304 ​ $ (137,308)

RECEIVABLES (Tables)

RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2024
RECEIVABLES
Summary of receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 Retail notes $ 1,180,540 $ 1,291,559 Revolving charge accounts ​ 235,640 ​ 205,872 Finance leases ​ 233,621 ​ 219,386 Wholesale ​ 1,507,176 ​ 1,575,142 Restricted receivables ​ ​ 10,965,562 ​ ​ 10,278,503 Gross receivables 14,122,539 13,570,462 Less: Allowance for credit losses ​ (129,983) ​ (114,745) Total receivables, net $ 13,992,556 $ 13,455,717
Maturities of gross receivables as of December 31, 2024, are as follows:	​ ​ ​ ​ ​ 2025 $ 7,757,119 2026 ​ 2,095,326 2027 ​ 1,749,367 2028 ​ 1,361,547 2029 and thereafter ​ 1,159,180 Gross receivables $ 14,122,539
Summary of restricted receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Retail notes $ 7,625,647 ​ $ 6,693,525 Wholesale ​ 3,339,915 ​ 3,584,978 Total restricted receivables $ 10,965,562 ​ $ 10,278,503
Schedule of allowance for credit losses activity	Allowance for credit losses activity for the year ended December 31, 2024 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ Retail ​ Charge ​ ​ ​ ​ ​ ​ ​ ​ Customer ​ Accounts ​ Wholesale ​ Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance $ 101,649 $ 7,594 $ 5,502 ​ $ 114,745 Charge-offs ​ (31,918) ​ ​ (5,299) ​ — ​ ​ (37,217) Recoveries ​ 1,970 ​ ​ 662 ​ 1,578 ​ ​ 4,210 Provision (benefit) ​ 44,022 ​ ​ 4,692 ​ 444 ​ ​ 49,158 Foreign currency translation and other ​ (788) ​ ​ (46) ​ (79) ​ ​ (913) Ending balance $ 114,935 $ 7,603 $ 7,445 ​ $ 129,983 Gross receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance $ 9,039,808 $ 235,640 $ 4,847,091 ​ $ 14,122,539 At December 31, 2024, the allowance for credit losses increased due to higher specific reserve needs. Allowance for credit losses activity for the year ended December 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ Retail ​ Charge ​ ​ ​ ​ ​ ​ ​ ​ Customer ​ Accounts ​ Wholesale ​ Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance $ 110,341 $ 8,519 $ 6,152 ​ $ 125,012 Charge-offs ​ (17,624) ​ (6,512) ​ — ​ ​ (24,136) Recoveries ​ 1,785 ​ 221 ​ 26 ​ ​ 2,032 Provision ​ 6,920 ​ 5,354 ​ (695) ​ ​ 11,579 Foreign currency translation and other ​ 227 ​ 12 ​ 19 ​ ​ 258 Ending balance $ 101,649 $ 7,594 $ 5,502 ​ $ 114,745 Gross receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance $ 8,204,470 $ 205,872 $ 5,160,120 ​ $ 13,570,462 At December 31, 2023, the allowance for credit losses decreased due to lower specific reserve needs for retail customers and the continued strong outlook for the agricultural industry. Allowance for credit losses activity for the year ended December 31, 2022 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ Retail ​ Charge ​ ​ ​ ​ ​ ​ ​ ​ Customer ​ Accounts ​ Wholesale ​ Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 109,742 $ — $ 6,211 ​ $ 115,953 Charge-offs ​ (8,202) ​ (49) ​ (4,631) ​ ​ (12,882) Recoveries ​ 2,262 ​ — ​ 526 ​ ​ 2,788 Provision ​ 7,311 ​ (169) ​ 4,099 ​ ​ 11,241 Foreign currency translation and other ​ (772) ​ 8,737 ​ (53) ​ ​ 7,912 Ending balance $ 110,341 $ 8,519 $ 6,152 ​ $ 125,012 Gross receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance $ 7,275,284 $ 207,744 $ 3,383,804 ​ $ 10,866,832
Schedule of aging of financing receivables	The aging of receivables by vintage as of December 31, 2024 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 31 – 60 Days ​ 61 – 90 Days ​ Than ​ Total ​ ​ ​ ​ Total ​ Gross ​ Past Due Past Due 90 Days Past Due Current Receivables Charge-offs Retail customer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ $ 11,150 ​ $ 2,177 ​ $ 2,530 ​ $ 15,857 ​ $ 3,396,385 ​ $ 3,412,242 ​ $ 1,168 2023 ​ ​ 14,713 ​ ​ 5,758 ​ ​ 11,439 ​ ​ 31,910 ​ ​ 1,899,459 ​ ​ 1,931,369 ​ ​ 9,538 2022 ​ ​ 10,027 ​ ​ 3,499 ​ ​ 9,858 ​ ​ 23,384 ​ ​ 1,200,888 ​ ​ 1,224,272 ​ ​ 7,902 2021 ​ ​ 6,764 ​ ​ 1,679 ​ ​ 4,865 ​ ​ 13,308 ​ ​ 610,425 ​ ​ 623,733 ​ ​ 4,107 2020 ​ ​ 3,037 ​ ​ 657 ​ ​ 30,779 ​ ​ 34,473 ​ ​ 202,608 ​ ​ 237,081 ​ ​ 2,552 Prior to 2020 ​ ​ 925 ​ ​ 430 ​ ​ 3,916 ​ ​ 5,271 ​ ​ 47,538 ​ ​ 52,809 ​ ​ 2,250 Total $ 46,616 ​ $ 14,200 ​ $ 63,387 ​ $ 124,203 ​ $ 7,357,303 ​ $ 7,481,506 ​ $ 27,517 Canada ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ $ 4,929 ​ $ 520 ​ $ 74 ​ $ 5,523 ​ $ 821,811 ​ $ 827,334 ​ $ 130 2023 ​ ​ 1,326 ​ ​ — ​ ​ 835 ​ ​ 2,161 ​ ​ 281,729 ​ ​ 283,890 ​ ​ 1,241 2022 ​ ​ 1,755 ​ ​ 731 ​ ​ 673 ​ ​ 3,159 ​ ​ 222,266 ​ ​ 225,425 ​ ​ 1,054 2021 ​ ​ 912 ​ ​ 123 ​ ​ 653 ​ ​ 1,688 ​ ​ 158,451 ​ ​ 160,139 ​ ​ 797 2020 ​ ​ 410 ​ ​ 68 ​ ​ 248 ​ ​ 726 ​ ​ 49,125 ​ ​ 49,851 ​ ​ 505 Prior to 2020 ​ ​ 23 ​ ​ 2 ​ ​ 33 ​ ​ 58 ​ ​ 11,605 ​ ​ 11,663 ​ ​ 674 Total $ 9,355 ​ $ 1,444 ​ $ 2,516 ​ $ 13,315 ​ $ 1,544,987 ​ $ 1,558,302 ​ $ 4,401 Revolving charge accounts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 6,303 ​ $ 2,447 ​ $ 1,360 ​ $ 10,110 ​ $ 209,241 ​ $ 219,351 ​ $ 4,993 Canada ​ $ 1,478 ​ $ 555 ​ $ 183 ​ $ 2,216 ​ $ 14,073 ​ $ 16,289 ​ $ 306 Wholesale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 22 ​ $ — ​ $ 225 ​ $ 247 ​ $ 3,858,213 ​ $ 3,858,460 ​ $ — Canada ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 988,631 ​ $ 988,631 ​ $ — Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail customer ​ $ 55,971 ​ $ 15,644 ​ $ 65,903 ​ $ 137,518 ​ $ 8,902,290 ​ $ 9,039,808 ​ $ 31,918 Revolving charge accounts ​ $ 7,781 ​ $ 3,002 ​ $ 1,543 ​ $ 12,326 ​ $ 223,314 ​ $ 235,640 ​ $ 5,299 Wholesale ​ $ 22 ​ $ — ​ $ 225 ​ $ 247 ​ $ 4,846,844 ​ $ 4,847,091 ​ $ — ​ The aging of receivables by vintage as of December 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 31 – 60 Days ​ 61 – 90 Days ​ Than ​ Total ​ ​ ​ ​ Total ​ Gross ​ Past Due Past Due 90 Days Past Due Current Receivables Charge-offs Retail customer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ $ 9,662 ​ $ 1,415 ​ $ 1,288 ​ $ 12,365 ​ $ 3,111,476 ​ $ 3,123,841 ​ $ 552 2022 ​ ​ 10,008 ​ ​ 2,583 ​ ​ 5,821 ​ ​ 18,412 ​ ​ 1,755,538 ​ ​ 1,773,950 ​ ​ 3,221 2021 ​ ​ 6,808 ​ ​ 2,118 ​ ​ 3,554 ​ ​ 12,480 ​ ​ 1,041,185 ​ ​ 1,053,665 ​ ​ 2,716 2020 ​ ​ 3,270 ​ ​ 1,106 ​ ​ 32,831 ​ ​ 37,207 ​ ​ 451,292 ​ ​ 488,499 ​ ​ 2,987 2019 ​ ​ 1,829 ​ ​ 529 ​ ​ 2,001 ​ ​ 4,359 ​ ​ 164,634 ​ ​ 168,993 ​ ​ 3,203 Prior to 2019 ​ ​ 631 ​ ​ 318 ​ ​ 3,831 ​ ​ 4,780 ​ ​ 56,779 ​ ​ 61,559 ​ ​ 2,849 Total $ 32,208 ​ $ 8,069 ​ $ 49,326 ​ $ 89,603 ​ $ 6,580,904 ​ $ 6,670,507 ​ $ 15,528 Canada ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ $ 647 ​ $ 149 ​ $ 420 ​ $ 1,216 ​ $ 667,887 ​ $ 669,103 ​ $ 78 2022 ​ ​ 2,395 ​ ​ 60 ​ ​ 1,236 ​ ​ 3,691 ​ ​ 395,757 ​ ​ 399,448 ​ ​ 941 2021 ​ ​ 1,090 ​ ​ 159 ​ ​ 2,361 ​ ​ 3,610 ​ ​ 291,974 ​ ​ 295,584 ​ ​ 964 2020 ​ ​ 755 ​ ​ — ​ ​ 320 ​ ​ 1,075 ​ ​ 113,630 ​ ​ 114,705 ​ ​ (227) 2019 ​ ​ 158 ​ ​ 14 ​ ​ 201 ​ ​ 373 ​ ​ 44,042 ​ ​ 44,415 ​ ​ 253 Prior to 2019 ​ ​ 126 ​ ​ 152 ​ ​ 366 ​ ​ 644 ​ ​ 10,064 ​ ​ 10,708 ​ ​ 87 Total $ 5,171 ​ $ 534 ​ $ 4,904 ​ $ 10,609 ​ $ 1,523,354 ​ $ 1,533,963 ​ $ 2,096 Revolving charge accounts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 6,036 ​ $ 2,422 ​ $ 1,089 ​ $ 9,547 ​ $ 182,728 ​ $ 192,275 ​ $ 5,993 Canada ​ $ 374 ​ $ 169 ​ $ 122 ​ $ 665 ​ $ 12,932 ​ $ 13,597 ​ $ 519 Wholesale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 4,271,583 ​ $ 4,271,583 ​ $ — Canada ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 888,537 ​ $ 888,537 ​ $ — Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail customer ​ $ 37,379 ​ $ 8,603 ​ $ 54,230 ​ $ 100,212 ​ $ 8,104,258 ​ $ 8,204,470 ​ $ 17,624 Revolving charge accounts ​ $ 6,410 ​ $ 2,591 ​ $ 1,211 ​ $ 10,212 ​ $ 195,660 ​ $ 205,872 ​ $ 6,512 Wholesale ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,160,120 ​ $ 5,160,120 ​ $ —
Schedule of receivables on nonaccrual status	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 United States $ 74,795 $ 55,564 Canada ​ $ 3,818 ​ $ 5,321

EQUIPMENT ON OPERATING LEASES (

EQUIPMENT ON OPERATING LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
Schedule of lease payments owed to the Company for equipment under non-cancelable operating leases	​ ​ ​ ​ ​ ​ ​ 2025 $ 194,504 2026 ​ 135,585 2027 ​ 67,618 2028 ​ 27,117 2029 and thereafter ​ 7,832 Total lease payments $ 432,656 ​
Property Subject to Operating Lease, Lessor
Summary of equipment on operating leases	​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Equipment on operating leases $ 1,777,248 ​ $ 1,735,626 Accumulated depreciation ​ (355,247) ​ (357,242) Total equipment on operating leases, net $ 1,422,001 ​ $ 1,378,384

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
GOODWILL AND INTANGIBLE ASSETS
Schedule of changes in the carrying amount of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Balance, beginning of year $ 109,118 ​ $ 108,567 Foreign currency translation adjustment ​ (2,050) ​ 551 Balance, end of year $ 107,068 ​ $ 109,118
Schedule of the Company's intangible asset and related accumulated amortization for its software	​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Software $ 53,181 ​ $ 50,155 Accumulated amortization ​ (33,815) ​ (30,803) Total software, net $ 19,366 ​ $ 19,352

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
OTHER ASSETS
Schedule of components of other assets	​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Derivative assets $ 37,380 ​ $ 55,654 Deferred tax assets ​ ​ 22,160 ​ ​ 17,772 Tax receivables ​ ​ 20,761 ​ ​ 10,260 Other current assets ​ 22,115 ​ 24,461 Total other assets $ 102,416 ​ $ 108,147 ​

CREDIT FACILITIES AND DEBT (Tab

CREDIT FACILITIES AND DEBT (Tables)	12 Months Ended
	Dec. 31, 2024
Schedule of the Company's debt and credit facilities	The following table summarizes the Company’s debt and credit facilities, borrowings thereunder and availability at December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Maturities of ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ Short-Term ​ Long-Term ​ Long-Term ​ ​ ​ ​ Maturity (1) ​ Facility/Debt ​ Outstanding ​ Outstanding ​ Outstanding ​ Available Committed Asset-Backed Facilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail - U.S. Sep 2026 $ 1,200,000 ​ $ — ​ $ 192,268 ​ $ 813,740 ​ $ 193,992 Retail - Canada Dec 2026 347,505 ​ — ​ 46,621 ​ 210,129 ​ 90,755 Wholesale VFN - U.S. Various 1,600,000 ​ 1,600,000 ​ — ​ — ​ — Wholesale VFN - Canada Dec 2026 347,505 ​ 347,505 ​ — ​ — ​ — ​ ​ 3,495,010 ​ 1,947,505 ​ 238,889 ​ 1,023,869 ​ 284,747 Secured Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortizing retail term ABS - N.A. Various 5,531,901 ​ — ​ 1,983,354 ​ 3,548,547 ​ — Other ABS financing - N.A. Various 225,858 ​ — ​ 138,273 ​ 87,585 ​ — Repurchase agreement Sep 2025 ​ ​ 312,754 ​ ​ 312,754 ​ ​ — ​ ​ — ​ ​ — Unamortized issuance costs ​ (15,240) ​ — ​ — ​ (15,240) ​ — ​ ​ 6,055,273 ​ 312,754 ​ 2,121,627 ​ 3,620,892 ​ — Unsecured Facilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit lines Various 250,000 ​ 250,000 ​ — ​ — ​ — Revolving credit facilities Various ​ ​ 738,752 ​ ​ — ​ ​ — ​ ​ — ​ ​ 738,752 Unamortized issuance costs ​ ​ ​ (500) ​ ​ — ​ ​ — ​ ​ (500) ​ ​ — ​ ​ ​ 988,252 ​ ​ 250,000 ​ ​ — ​ ​ (500) ​ ​ 738,752 Unsecured Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial paper Various ​ ​ 100,000 ​ ​ 100,000 ​ ​ — ​ ​ — ​ ​ — Notes Various 4,964,510 ​ — ​ 900,000 ​ 4,064,510 ​ — Hedging effects, discounts and unamortized issuance costs ​ ​ ​ (43,419) ​ ​ (244) ​ ​ (1,031) ​ ​ (42,144) ​ ​ — ​ ​ 5,021,091 ​ 99,756 ​ 898,969 ​ 4,022,366 ​ — Total credit facilities and debt ​ $ 15,559,626 ​ $ 2,610,015 ​ $ 3,259,485 ​ $ 8,666,627 ​ $ 1,023,499 (1) Maturity dates reflect maturities of the credit facility, which may be different than the maturities of the advances under the facility. ​ ​ ​ ​ ​ 2026 $ 3,140,147 2027 ​ 2,034,038 2028 ​ 1,772,754 2029 ​ 1,609,549 2030 and thereafter ​ 110,139 Total $ 8,666,627 ​ The following table summarizes the Company’s credit facilities, borrowings thereunder and availability at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Maturities of ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ Short-Term ​ Long-Term ​ Long-Term ​ ​ ​ ​ Maturity (1) ​ Facility/Debt ​ Outstanding ​ Outstanding ​ Outstanding ​ Available Committed Asset-Backed Facilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail - U.S. Sep 2025 $ 1,000,000 ​ $ — ​ $ 227,598 ​ $ 772,052 ​ $ 350 Retail - Canada Dec 2025 377,339 ​ — ​ 74,265 ​ 303,074 ​ — Wholesale VFN - U.S. Various 1,550,000 ​ 1,550,000 ​ — ​ — ​ — Wholesale VFN - Canada Dec 2025 377,339 ​ 377,339 ​ — ​ — ​ — ​ ​ 3,304,678 ​ 1,927,339 ​ 301,863 ​ 1,075,126 ​ 350 Secured Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortizing retail term ABS - N.A. Various 4,620,565 ​ — ​ 1,595,183 ​ 3,025,382 ​ — Other ABS financing - N.A. Various 388,589 ​ — ​ 136,355 ​ 252,234 ​ — Repurchase agreement Sep 2024 ​ ​ 226,290 ​ ​ 226,290 ​ ​ — ​ ​ — ​ ​ — Unamortized issuance costs ​ ​ (14,089) ​ ​ — ​ ​ — ​ ​ (14,089) ​ ​ — ​ ​ 5,221,355 ​ 226,290 ​ 1,731,538 ​ 3,263,527 ​ — Unsecured Facilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit lines Various ​ 100,000 ​ ​ 100,000 ​ ​ — ​ ​ — ​ ​ — Revolving credit facilities Various ​ 716,404 ​ — ​ 150,936 ​ 165,468 ​ 400,000 Unamortized issuance costs ​ ​ ​ (556) ​ ​ — ​ ​ — ​ ​ (556) ​ ​ — ​ ​ ​ 815,848 ​ ​ 100,000 ​ ​ 150,936 ​ ​ 164,912 ​ ​ 400,000 Unsecured Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial paper Various ​ 351,000 ​ 351,000 ​ — ​ — ​ — Notes Various 4,128,275 ​ — ​ 726,404 ​ 3,401,871 ​ — Hedging effects, discounts and unamortized issuance costs ​ ​ ​ (41,385) ​ ​ (3,110) ​ ​ 7,532 ​ ​ (45,807) ​ ​ — ​ ​ 4,437,890 ​ 347,890 ​ 733,936 ​ 3,356,064 ​ — Total credit facilities and debt ​ $ 13,779,771 ​ $ 2,601,519 ​ $ 2,918,273 ​ $ 7,859,629 ​ $ 400,350 (1) Maturity dates reflect maturities of the credit facility, which may be different than the maturities of the advances under the facility.
Summary of the minimum annual repayments of long-term debt	​ ​ ​ ​ ​ 2026 $ 3,140,147 2027 ​ 2,034,038 2028 ​ 1,772,754 2029 ​ 1,609,549 2030 and thereafter ​ 110,139 Total $ 8,666,627
Unsecured Debt
Schedule of the Company's debt and credit facilities	As of December 31, 2024, the Company’s outstanding unsecured senior notes were as follows: ​ ​ ​ ​ Issued by CNH Industrial Capital LLC (the “U.S. Senior Notes”): (1) ​ ​ ​ 3.950% notes, due 2025 $ 500,000 5.450% notes, due 2025 ​ 400,000 1.875% notes, due 2026 ​ ​ 500,000 1.450% notes, due 2026 ​ ​ 600,000 4.500% notes, due 2027 ​ ​ 500,000 4.550% notes, due 2028 ​ ​ 600,000 5.500% notes, due 2029 ​ ​ 500,000 5.100% notes, due 2029 ​ ​ 600,000 Hedging, discounts and unamortized issuance costs ​ ​ (39,485) ​ ​ 4,160,515 Issued by CNH Industrial Capital Canada (the “Canadian Senior Notes”): (2) ​ ​ ​ 5.500% notes, due 2026 ​ 278,004 4.800% notes, due 2027 ​ ​ 278,004 4.000% notes, due 2028 ​ ​ 208,503 Discounts and unamortized issuance costs ​ ​ (3,691) ​ ​ 760,820 Total $ 4,921,335 (1) These notes, which are senior unsecured obligations of CNH Industrial Capital LLC, are guaranteed by CNH Capital America and New Holland Credit. (2) These notes, which are senior unsecured obligations of CNH Capital Canada, are guaranteed by CNH Industrial Capital LLC, CNH Capital America and New Holland Credit.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
INCOME TAXES
Schedule of sources of income before taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Domestic $ 258,683 ​ $ 218,113 ​ $ 232,873 Foreign ​ 55,640 ​ 58,915 ​ 57,129 Income before taxes $ 314,323 ​ $ 277,028 ​ $ 290,002
Schedule of provision for income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Current income tax expense: ​ ​ ​ ​ ​ ​ ​ ​ Domestic ​ $ 85,671 ​ $ 109,762 ​ $ 112,615 Foreign ​ 16,294 ​ 17,626 ​ 12,717 Total current income tax expense ​ 101,965 ​ ​ 127,388 ​ ​ 125,332 Deferred income tax benefit: ​ ​ ​ ​ ​ ​ ​ ​ Domestic ​ (28,442) ​ (59,051) ​ (55,494) Foreign ​ (5,899) ​ (6,381) ​ 1,042 Total deferred income tax benefit ​ (34,341) ​ ​ (65,432) ​ ​ (54,452) Total tax provision $ 67,624 ​ $ 61,956 ​ $ 70,880
Schedule of reconciliation of statutory and effective income tax rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Tax provision at statutory rate 21.0 % 21.0 % 21.0 % State taxes ​ 3.4 ​ 3.7 ​ 4.8 ​ Foreign taxes ​ (1.0) ​ (1.3) ​ (0.6) ​ Tax credits and incentives ​ (1.6) ​ (0.8) ​ (0.6) ​ Other ​ (0.3) ​ (0.2) ​ (0.2) ​ Total tax provision effective rate 21.5 % 22.4 % 24.4 %
Schedule of components of net deferred tax liability	​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Deferred tax assets: ​ ​ ​ ​ ​ Pension, postretirement and post-employment benefits ​ $ 1,569 ​ $ 1,173 Marketing and sales incentive programs ​ 94,283 ​ 75,631 Allowance for credit losses ​ 25,513 ​ 23,122 Other accrued liabilities ​ 43,210 ​ 38,576 Tax loss and tax credit carry forwards ​ 1,702 ​ 1,812 Total deferred tax assets $ 166,277 ​ $ 140,314 Deferred tax liability: ​ ​ ​ ​ ​ Equipment on operating lease ​ ​ 249,765 ​ ​ 257,705 Net deferred tax liabilities $ (83,488) ​ $ (117,391) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Deferred tax assets $ 22,160 ​ $ 17,772 Deferred tax liabilities ​ (105,648) ​ ​ (135,163) Net deferred tax liabilities $ (83,488) ​ $ (117,391)

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
FINANCIAL INSTRUMENTS
Schedule of fair values of derivatives in the consolidated balance sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 Derivatives Designated as Hedging Instruments ​ ​ ​ ​ ​ Other assets: ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 12,862 ​ $ 22,633 Accounts payable and other accrued liabilities: ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 21,087 ​ $ 32,579 Derivatives Not Designated as Hedging Instruments ​ ​ ​ ​ ​ Other assets: ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 21,522 ​ $ 30,420 Foreign exchange contracts ​ 2,996 ​ 2,601 Total $ 24,518 ​ $ 33,021 Accounts payable and other accrued liabilities: ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 21,522 ​ $ 30,420
Schedule of pre-tax gains (losses) on the consolidated statements of income related to the Company's derivatives	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in accumulated other comprehensive income (loss): ​ ​ ​ ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 173 ​ $ (6,987) ​ $ 17,334 Reclassified from accumulated other comprehensive income (loss): ​ ​ ​ ​ ​ ​ ​ ​ Interest rate derivatives—Interest expense to third parties ​ 3,218 ​ 2,624 ​ 1,090 Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts—Other expenses, net $ (2,492) ​ $ 1,828 ​ $ (5,784)
Schedule of assets and liabilities measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Assets ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 34,384 ​ $ 53,053 Foreign exchange contracts ​ 2,996 ​ 2,601 Total assets $ 37,380 ​ $ 55,654 Liabilities ​ ​ ​ ​ ​ Interest rate derivatives ​ $ 42,609 ​ $ 62,999
Schedule of carrying amount and estimated fair value of assets and liabilities considered financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ Carrying Estimated Carrying Estimated ​ ​ Amount ​ Fair Value * ​ Amount ​ Fair Value * Receivables $ 13,992,556 ​ $ 14,040,507 ​ $ 13,455,717 ​ $ 13,224,506 Long-term debt ​ $ 8,666,627 ​ $ 8,654,374 ​ $ 7,859,629 ​ $ 7,739,874 * Under the fair value hierarchy, receivables measurements are classified as Level 3 and long-term debt measurements are classified as Level 2.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
SEGMENT INFORMATION
Summary of Company's segment net income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 REVENUES ​ ​ ​ ​ ​ ​ ​ ​ Revenues and other income from third parties ​ $ 796,704 ​ $ 638,396 ​ $ 523,568 Interest and other income from affiliates ​ 519,837 ​ 434,257 ​ 268,267 Total revenues ​ 1,316,541 ​ ​ 1,072,653 ​ ​ 791,835 EXPENSES ​ ​ ​ ​ ​ ​ ​ ​ Interest expense to third parties ​ ​ 697,651 ​ ​ 500,493 ​ ​ 232,446 Interest expense to affiliates ​ ​ 8,387 ​ ​ 33,746 ​ ​ 9,361 Fees charged by affiliates ​ ​ 47,611 ​ ​ 53,804 ​ ​ 50,858 Provision for credit losses ​ ​ 49,158 ​ ​ 11,579 ​ ​ 11,241 Depreciation of equipment on operating leases ​ ​ 179,671 ​ ​ 178,969 ​ ​ 201,582 Gains on sale of used equipment ​ ​ (3,732) ​ ​ (16,896) ​ ​ (27,525) Other general and administrative ​ ​ 23,472 ​ ​ 33,930 ​ ​ 23,870 Income tax provision ​ 67,624 ​ 61,956 ​ 70,880 Total expenses ​ 1,069,842 ​ ​ 857,581 ​ ​ 572,713 SEGMENT NET INCOME ​ 246,699 ​ ​ 215,072 ​ ​ 219,122 Adjustments and reconciling items ​ ​ — ​ ​ — ​ ​ — NET INCOME $ 246,699 ​ $ 215,072 ​ $ 219,122 ​

GEOGRAPHICAL INFORMATION (Table

GEOGRAPHICAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
GEOGRAPHICAL INFORMATION
Summary of geographic information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Revenues ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 1,064,569 ​ $ 860,081 ​ $ 626,754 Canada ​ 252,867 ​ 214,173 ​ 168,909 Eliminations ​ (895) ​ (1,601) ​ (3,828) Total $ 1,316,541 ​ $ 1,072,653 ​ $ 791,835 Interest expense ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 579,527 ​ $ 443,629 ​ $ 195,728 Canada ​ 127,406 ​ 92,211 ​ 49,907 Eliminations ​ (895) ​ (1,601) ​ (3,828) Total $ 706,038 ​ $ 534,239 ​ $ 241,807 Net income ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 201,454 ​ $ 167,403 ​ $ 175,752 Canada ​ 45,245 ​ 47,669 ​ 43,370 Total $ 246,699 ​ $ 215,072 ​ $ 219,122 Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 126,793 ​ $ 129,247 ​ $ 152,871 Canada ​ 55,897 ​ 52,669 ​ 50,878 Total $ 182,690 ​ $ 181,916 ​ $ 203,749 Expenditures for equipment on operating leases ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 453,511 ​ $ 354,015 ​ $ 354,817 Canada ​ 164,885 ​ 167,129 ​ 162,806 Total $ 618,396 ​ $ 521,144 ​ $ 517,623 Provision (benefit) for credit losses ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 44,643 ​ $ 12,897 ​ $ 9,978 Canada ​ 4,515 ​ (1,318) ​ 1,263 Total $ 49,158 ​ $ 11,579 ​ $ 11,241 ​

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2024
RELATED-PARTY TRANSACTIONS
Summary of the sources included in "Interest and other income from affiliates" in the accompanying consolidated statements of income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Subsidy from CNH North America ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail customer ​ $ 220,180 ​ $ 140,195 ​ $ 123,874 Operating lease ​ 37,327 ​ 40,852 ​ 47,194 Revolving charge accounts ​ ​ 4,615 ​ ​ 4,106 ​ ​ — Wholesale ​ ​ 250,053 ​ ​ 242,062 ​ ​ 95,138 Income from affiliated receivables ​ ​ ​ ​ ​ ​ ​ ​ CNH North America ​ 4,412 ​ 3,430 ​ 713 Banco CNH Industrial Capital Brazil ​ ​ 2,464 ​ ​ 2,864 ​ ​ 983 Other affiliates ​ ​ 786 ​ ​ 748 ​ ​ 365 Total interest and other income from affiliates $ 519,837 ​ $ 434,257 ​ $ 268,267
Schedule of various accounts and notes receivable and debt with the affiliates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ Rate Maturity Amount Rate Maturity Amount Affiliated receivables ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CNH America Various ​ — ​ $ 317,587 0% ​ — ​ $ 13,377 CNH Canada Various ​ — ​ ​ 35,006 0% ​ — ​ ​ 704 Banco CNH Industrial Capital Brazil ​ Various ​ Various ​ ​ 36,182 ​ Various ​ Various ​ ​ 47,997 Other affiliates 0% ​ — ​ ​ 12,510 0% ​ — ​ ​ 12,589 Total affiliated receivables ​ ​ ​ ​ $ 401,285 ​ ​ ​ ​ ​ $ 74,667 Affiliated debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CNH America ​ — ​ — ​ $ — ​ 5.68% ​ 2024 ​ $ 86,234 CNH Canada ​ — ​ — ​ ​ — ​ 5.76% ​ 2024 ​ ​ 46,258 Total affiliated debt ​ ​ ​ ​ $ — ​ ​ ​ ​ $ 132,492

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2024
COMMITMENTS AND CONTINGENCIES
Commitments to Extend Credit	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ Credit Limit ​ Utilized ​ Not Utilized Wholesale and dealer financing ​ $ 7,716,172 ​ $ 4,739,263 ​ $ 2,976,909 Revolving charge accounts ​ $ 2,705,600 ​ $ 239,915 ​ $ 2,465,685 ​

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenue Recognition
Delinquency period of accounts considered for recognition of income	90 days
Minimum account delinquency period for an account to be classified as past due	30 days
Minimum account delinquency period for revolving charge accounts to be classified as past due	120 days
Goodwill and Intangible Assets
Impairment of goodwill	$ 0	$ 0
Amortization period of other intangible assets consisting of software	10 years

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME - Change in Components of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Changes in accumulated other comprehensive income by component
Beginning balance, gross	$ (135,562)	$ (133,403)
Tax liability	(1,746)	(4,430)
Beginning balance, net of tax	(137,308)	(137,833)
Other comprehensive income (loss) before reclassifications	(38,611)	1,426
Amounts reclassified from accumulated other comprehensive income (loss)	(3,820)	(3,585)
Tax effects	1,292	2,684
Total other comprehensive income (loss)	(41,139)	525	$ (26,376)
Ending balance	(178,447)	(137,308)	(137,833)
Currency Translation Adjustment
Changes in accumulated other comprehensive income by component
Beginning balance, gross	(142,798)	(151,254)
Beginning balance, net of tax	(142,798)	(151,254)
Other comprehensive income (loss) before reclassifications	(37,088)	8,456
Total other comprehensive income (loss)	(37,088)	8,456
Ending balance	(179,886)	(142,798)	(151,254)
Pension Liability
Changes in accumulated other comprehensive income by component
Beginning balance, gross	1,559	2,563
Tax liability	(373)	(620)
Beginning balance, net of tax	1,186	1,943
Other comprehensive income (loss) before reclassifications	(1,696)	(43)
Amounts reclassified from accumulated other comprehensive income (loss)	(602)	(961)
Tax effects	559	247
Total other comprehensive income (loss)	(1,739)	(757)
Ending balance	(553)	1,186	1,943
Unrealized (Losses) Gains on Derivatives
Changes in accumulated other comprehensive income by component
Beginning balance, gross	5,677	15,288
Tax liability	(1,373)	(3,810)
Beginning balance, net of tax	4,304	11,478
Other comprehensive income (loss) before reclassifications	173	(6,987)
Amounts reclassified from accumulated other comprehensive income (loss)	(3,218)	(2,624)
Tax effects	733	2,437
Total other comprehensive income (loss)	(2,312)	(7,174)
Ending balance	$ 1,992	$ 4,304	$ 11,478

RECEIVABLES - Summary of Receiv

RECEIVABLES - Summary of Receivables (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Receivables
Gross receivables	$ 14,122,539	$ 13,570,462	$ 10,866,832
Less: Allowance for credit losses	(129,983)	(114,745)	$ (125,012)	$ (115,953)
Total receivables, net	13,992,556	13,455,717
Restricted receivables	$ 10,965,562	10,278,503
Number of portfolio segments in which allowance for credit losses is segregated | item	3
Retail notes
Receivables
Gross receivables	$ 1,180,540	1,291,559
Restricted receivables	$ 7,625,647	6,693,525
Retail notes | Minimum
Receivables
Stated original maturities	2 years
Retail notes | Maximum
Receivables
Stated original maturities	7 years
Revolving charge accounts
Receivables
Gross receivables	$ 235,640	205,872
Finance leases
Receivables
Gross receivables	233,621	219,386
Wholesale
Receivables
Gross receivables	1,507,176	1,575,142
Restricted receivables	$ 3,339,915	3,584,978
Wholesale | Maximum
Receivables
Stated original maturities	24 months
Interest-free periods	12 months
Restricted receivables
Receivables
Restricted receivables	$ 10,965,562	$ 10,278,503

RECEIVABLES - Maturities of rec

RECEIVABLES - Maturities of receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
RECEIVABLES
2025	$ 7,757,119
2026	2,095,326
2027	1,749,367
2028	1,361,547
2029 and thereafter	1,159,180
Gross receivables	$ 14,122,539	$ 13,570,462	$ 10,866,832

RECEIVABLES - Receivables Secur

RECEIVABLES - Receivables Securitizations (Details) $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($)	Dec. 31, 2024 CAD ($)
Receivables
Maximum borrowing capacity	$ 15,559,626	$ 13,779,771
Number of conduit facilities | item	3
Number of portfolio segments in which allowance for credit losses is segregated | item	3
Retail committed asset-backed facilities
Receivables
Asset-backed transactions securitized	$ 3,644,647	2,198,864
Outstanding amount of transactions securitized	$ 5,531,901	$ 4,620,565
Remaining period of transactions securitized	43 months
Maximum borrowing capacity	$ 1,547,505
Term of credit agreement	2 years
Conduit facilities, $900 million renewable in 2025
Receivables
Maximum borrowing capacity	$ 900,000
Conduit facilities, $400 million renewable in 2026
Receivables
Maximum borrowing capacity	400,000
Conduit facilities, $300 million renewable in 2025
Receivables
Maximum borrowing capacity	300,000
Conduit facilities renewable in December 2026 | Canada
Receivables
Maximum borrowing capacity	$ 347,505		$ 500,000

RECEIVABLES - Allowance for Cre

RECEIVABLES - Allowance for Credit Losses Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for credit losses, Current:
Beginning balance	$ 114,745	$ 125,012	$ 115,953
Charge-offs	(37,217)	(24,136)	(12,882)
Recoveries	4,210	2,032	2,788
Provision (benefit)	49,158	11,579	11,241
Foreign currency translation and other	(913)	258	7,912
Ending balance	129,983	114,745	125,012
Receivables:
Ending Balance	$ 14,122,539	13,570,462	10,866,832
Minimum account delinquency period for revolving charge accounts to be classified as past due	120 days
Retail customer
Allowance for credit losses, Current:
Beginning balance	$ 101,649	110,341	109,742
Charge-offs	(31,918)	(17,624)	(8,202)
Recoveries	1,970	1,785	2,262
Provision (benefit)	44,022	6,920	7,311
Foreign currency translation and other	(788)	227	(772)
Ending balance	114,935	101,649	110,341
Receivables:
Ending Balance	9,039,808	8,204,470	7,275,284
Revolving charge accounts
Allowance for credit losses, Current:
Beginning balance	7,594	8,519
Charge-offs	(5,299)	(6,512)	(49)
Recoveries	662	221
Provision (benefit)	4,692	5,354	(169)
Foreign currency translation and other	(46)	12	8,737
Ending balance	7,603	7,594	8,519
Receivables:
Ending Balance	235,640	205,872	207,744
Wholesale.
Allowance for credit losses, Current:
Beginning balance	5,502	6,152	6,211
Charge-offs			(4,631)
Recoveries	1,578	26	526
Provision (benefit)	444	(695)	4,099
Foreign currency translation and other	(79)	19	(53)
Ending balance	7,445	5,502	6,152
Receivables:
Ending Balance	$ 4,847,091	$ 5,160,120	$ 3,383,804

RECEIVABLES - Aging of Receivab

RECEIVABLES - Aging of Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing receivable, recorded investment
Minimum account delinquency period for an account to be classified as past due	30 days
Retail customer
Financing receivable, recorded investment
Total	$ 9,039,808	$ 8,204,470
Charge-offs
Total	31,918	17,624
Retail customer | Total Past Due
Financing receivable, recorded investment
Total	137,518	100,212
Retail customer | 31-60 Days Past Due
Financing receivable, recorded investment
Total	55,971	37,379
Retail customer | 61-90 Days Past Due
Financing receivable, recorded investment
Total	15,644	8,603
Retail customer | Greater than 90 Days
Financing receivable, recorded investment
Total	65,903	54,230
Retail customer | Current
Financing receivable, recorded investment
Total	8,902,290	8,104,258
Retail customer | United States
Financing receivable, recorded investment
Originated in current fiscal year	3,412,242
Originated in fiscal year before latest fiscal year	1,931,369	3,123,841
Originated two years before latest fiscal year	1,224,272	1,773,950
Originated three years before latest fiscal year	623,733	1,053,665
Originated four years before latest fiscal year	237,081	488,499
Originated five years before latest fiscal year	52,809	168,993
Originated six or more years prior to latest fiscal year		61,559
Total	7,481,506	6,670,507
Charge-offs
2024/2023	1,168	552
2023/2022	9,538	3,221
2022/2021	7,902	2,716
2021/2020	4,107	2,987
2020/2019	2,552	3,203
Prior to 2020/Prior to 2019	2,250	2,849
Total	27,517	15,528
Retail customer | United States | Total Past Due
Financing receivable, recorded investment
Originated in current fiscal year	15,857
Originated in fiscal year before latest fiscal year	31,910	12,365
Originated two years before latest fiscal year	23,384	18,412
Originated three years before latest fiscal year	13,308	12,480
Originated four years before latest fiscal year	34,473	37,207
Originated five years before latest fiscal year	5,271	4,359
Originated six or more years prior to latest fiscal year		4,780
Total	124,203	89,603
Retail customer | United States | 31-60 Days Past Due
Financing receivable, recorded investment
Originated in current fiscal year	11,150
Originated in fiscal year before latest fiscal year	14,713	9,662
Originated two years before latest fiscal year	10,027	10,008
Originated three years before latest fiscal year	6,764	6,808
Originated four years before latest fiscal year	3,037	3,270
Originated five years before latest fiscal year	925	1,829
Originated six or more years prior to latest fiscal year		631
Total	46,616	32,208
Retail customer | United States | 61-90 Days Past Due
Financing receivable, recorded investment
Originated in current fiscal year	2,177
Originated in fiscal year before latest fiscal year	5,758	1,415
Originated two years before latest fiscal year	3,499	2,583
Originated three years before latest fiscal year	1,679	2,118
Originated four years before latest fiscal year	657	1,106
Originated five years before latest fiscal year	430	529
Originated six or more years prior to latest fiscal year		318
Total	14,200	8,069
Retail customer | United States | Greater than 90 Days
Financing receivable, recorded investment
Originated in current fiscal year	2,530
Originated in fiscal year before latest fiscal year	11,439	1,288
Originated two years before latest fiscal year	9,858	5,821
Originated three years before latest fiscal year	4,865	3,554
Originated four years before latest fiscal year	30,779	32,831
Originated five years before latest fiscal year	3,916	2,001
Originated six or more years prior to latest fiscal year		3,831
Total	63,387	49,326
Retail customer | United States | Current
Financing receivable, recorded investment
Originated in current fiscal year	3,396,385
Originated in fiscal year before latest fiscal year	1,899,459	3,111,476
Originated two years before latest fiscal year	1,200,888	1,755,538
Originated three years before latest fiscal year	610,425	1,041,185
Originated four years before latest fiscal year	202,608	451,292
Originated five years before latest fiscal year	47,538	164,634
Originated six or more years prior to latest fiscal year		56,779
Total	7,357,303	6,580,904
Retail customer | Canada
Financing receivable, recorded investment
Originated in current fiscal year	827,334
Originated in fiscal year before latest fiscal year	283,890	669,103
Originated two years before latest fiscal year	225,425	399,448
Originated three years before latest fiscal year	160,139	295,584
Originated four years before latest fiscal year	49,851	114,705
Originated five years before latest fiscal year	11,663	44,415
Originated six or more years prior to latest fiscal year		10,708
Total	1,558,302	1,533,963
Charge-offs
2024/2023	130	78
2023/2022	1,241	941
2022/2021	1,054	964
2021/2020	797
2021/2020		(227)
2020/2019	505	253
Prior to 2020/Prior to 2019	674	87
Total	4,401	2,096
Retail customer | Canada | Total Past Due
Financing receivable, recorded investment
Originated in current fiscal year	5,523
Originated in fiscal year before latest fiscal year	2,161	1,216
Originated two years before latest fiscal year	3,159	3,691
Originated three years before latest fiscal year	1,688	3,610
Originated four years before latest fiscal year	726	1,075
Originated five years before latest fiscal year	58	373
Originated six or more years prior to latest fiscal year		644
Total	13,315	10,609
Retail customer | Canada | 31-60 Days Past Due
Financing receivable, recorded investment
Originated in current fiscal year	4,929
Originated in fiscal year before latest fiscal year	1,326	647
Originated two years before latest fiscal year	1,755	2,395
Originated three years before latest fiscal year	912	1,090
Originated four years before latest fiscal year	410	755
Originated five years before latest fiscal year	23	158
Originated six or more years prior to latest fiscal year		126
Total	9,355	5,171
Retail customer | Canada | 61-90 Days Past Due
Financing receivable, recorded investment
Originated in current fiscal year	520
Originated in fiscal year before latest fiscal year		149
Originated two years before latest fiscal year	731	60
Originated three years before latest fiscal year	123	159
Originated four years before latest fiscal year	68
Originated five years before latest fiscal year	2	14
Originated six or more years prior to latest fiscal year		152
Total	1,444	534
Retail customer | Canada | Greater than 90 Days
Financing receivable, recorded investment
Originated in current fiscal year	74
Originated in fiscal year before latest fiscal year	835	420
Originated two years before latest fiscal year	673	1,236
Originated three years before latest fiscal year	653	2,361
Originated four years before latest fiscal year	248	320
Originated five years before latest fiscal year	33	201
Originated six or more years prior to latest fiscal year		366
Total	2,516	4,904
Retail customer | Canada | Current
Financing receivable, recorded investment
Originated in current fiscal year	821,811
Originated in fiscal year before latest fiscal year	281,729	667,887
Originated two years before latest fiscal year	222,266	395,757
Originated three years before latest fiscal year	158,451	291,974
Originated four years before latest fiscal year	49,125	113,630
Originated five years before latest fiscal year	11,605	44,042
Originated six or more years prior to latest fiscal year		10,064
Total	1,544,987	1,523,354
Wholesale.
Financing receivable, recorded investment
Total	4,847,091	5,160,120
Wholesale. | Total Past Due
Financing receivable, recorded investment
Total	247
Wholesale. | 31-60 Days Past Due
Financing receivable, recorded investment
Total	22
Wholesale. | Greater than 90 Days
Financing receivable, recorded investment
Total	225
Wholesale. | Current
Financing receivable, recorded investment
Total	4,846,844	5,160,120
Wholesale. | United States
Financing receivable, recorded investment
Total	3,858,460	4,271,583
Wholesale. | United States | Total Past Due
Financing receivable, recorded investment
Total	247
Wholesale. | United States | 31-60 Days Past Due
Financing receivable, recorded investment
Total	22
Wholesale. | United States | Greater than 90 Days
Financing receivable, recorded investment
Total	225
Wholesale. | United States | Current
Financing receivable, recorded investment
Total	3,858,213	4,271,583
Wholesale. | Canada
Financing receivable, recorded investment
Total	988,631	888,537
Wholesale. | Canada | Current
Financing receivable, recorded investment
Total	988,631	888,537
Revolving charge accounts
Financing receivable, recorded investment
Total	235,640	205,872
Charge-offs
Total	5,299	6,512
Revolving charge accounts | Total Past Due
Financing receivable, recorded investment
Total	12,326	10,212
Revolving charge accounts | 31-60 Days Past Due
Financing receivable, recorded investment
Total	7,781	6,410
Revolving charge accounts | 61-90 Days Past Due
Financing receivable, recorded investment
Total	3,002	2,591
Revolving charge accounts | Greater than 90 Days
Financing receivable, recorded investment
Total	1,543	1,211
Revolving charge accounts | Current
Financing receivable, recorded investment
Total	223,314	195,660
Revolving charge accounts | United States
Financing receivable, recorded investment
Total	219,351	192,275
Charge-offs
Total	4,993	5,993
Revolving charge accounts | United States | Total Past Due
Financing receivable, recorded investment
Total	10,110	9,547
Revolving charge accounts | United States | 31-60 Days Past Due
Financing receivable, recorded investment
Total	6,303	6,036
Revolving charge accounts | United States | 61-90 Days Past Due
Financing receivable, recorded investment
Total	2,447	2,422
Revolving charge accounts | United States | Greater than 90 Days
Financing receivable, recorded investment
Total	1,360	1,089
Revolving charge accounts | United States | Current
Financing receivable, recorded investment
Total	209,241	182,728
Revolving charge accounts | Canada
Financing receivable, recorded investment
Total	16,289	13,597
Charge-offs
Total	306	519
Revolving charge accounts | Canada | Total Past Due
Financing receivable, recorded investment
Total	2,216	665
Revolving charge accounts | Canada | 31-60 Days Past Due
Financing receivable, recorded investment
Total	1,478	374
Revolving charge accounts | Canada | 61-90 Days Past Due
Financing receivable, recorded investment
Total	555	169
Revolving charge accounts | Canada | Greater than 90 Days
Financing receivable, recorded investment
Total	183	122
Revolving charge accounts | Canada | Current
Financing receivable, recorded investment
Total	$ 14,073	$ 12,932

RECEIVABLES - Impaired Receivab

RECEIVABLES - Impaired Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financing receivable, impaired
Accrued interest	$ 100,325	$ 83,879
Delinquency period of accounts considered for recognition of income	90 days
Retail customer | United States
Financing receivable, impaired
Receivables on nonaccrual status	$ 74,795	55,564
Retail customer | Canada
Financing receivable, impaired
Receivables on nonaccrual status	3,818	5,321
Wholesale.
Financing receivable, impaired
Receivables on nonaccrual status		$ 0
Wholesale. | United States
Financing receivable, impaired
Receivables on nonaccrual status	25,916
Wholesale. | Canada
Financing receivable, impaired
Receivables on nonaccrual status	$ 0

EQUIPMENT ON OPERATING LEASES_2

EQUIPMENT ON OPERATING LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Depreciation of equipment on operating leases	$ 179,671	$ 178,969	$ 201,582
Lease payments owed to the company for equipment under non-cancelable operating leases
Deferred operating lease subsidy	85,222
2025	194,504
2026	135,585
2027	67,618
2028	27,117
2029 and thereafter	7,832
Total lease payments	432,656
Property Subject to Operating Lease, Lessor
Equipment on operating lease	1,777,248	1,735,626
Accumulated depreciation	(355,247)	(357,242)
Total equipment on operating leases, net	1,422,001	1,378,384
Depreciation of equipment on operating leases	$ 179,671	$ 178,969	$ 201,582

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Changes in the carrying amount of goodwill
Balance, beginning of year	$ 109,118	$ 108,567
Foreign currency translation adjustment	(2,050)	551
Balance, end of year	107,068	109,118	$ 108,567
Impairment of goodwill	0	0
Company's intangible asset and related accumulated amortization for its software
Software	53,181	50,155
Accumulated amortization	(33,815)	(30,803)
Software, net	19,366	19,352
Amortization expense	3,012	$ 2,939	$ 2,159
Estimated annual amortization expense
2025	2,243
2026	1,978
2027	1,573
2028	1,381
2029	1,089
2030 and thereafter	$ 886

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
OTHER ASSETS
Derivative assets	$ 37,380	$ 55,654
Deferred tax assets	22,160	17,772
Tax receivables	20,761	10,260
Other current assets	22,115	24,461
Total other assets	$ 102,416	$ 108,147

CREDIT FACILITIES AND DEBT (Det

CREDIT FACILITIES AND DEBT (Details) $ in Thousands, $ in Thousands					12 Months Ended
	Oct. 10, 2024 USD ($)	Oct. 09, 2024 USD ($)	Mar. 25, 2024 USD ($)	Mar. 21, 2024 USD ($)	Dec. 31, 2024 USD ($) item	Dec. 31, 2024 CAD ($)	Oct. 10, 2024 CAD ($)	Mar. 25, 2024 CAD ($)	Dec. 31, 2023 USD ($)
Debt
Maximum borrowing capacity					$ 15,559,626				$ 13,779,771
Short-Term Outstanding					2,610,015				2,601,519
Current Maturities of Long-Term Outstanding					3,259,485				2,918,273
Long-Term Outstanding					8,666,627				7,859,629
Available					1,023,499				$ 400,350
Minimum annual repayments of long-term debt
2026					3,140,147
2027					2,034,038
2028					1,772,754
2029					1,609,549
2030 and thereafter					$ 110,139
Other disclosure
Weighted-average interest rate on total short-term debt outstanding (as a percent)					5.20%	5.20%			6.10%
Weighted- average interest rate on total long-term debt (as a percent)					4.50%	4.50%			4.30%
CNH
Support Agreement
Number of preceding fiscal quarters added to the current quarter used in calculating the consolidated fixed charges coverage ratio under support agreement | item					3
Period of prior written notice					30 days
Long-term rated indebtedness outstanding					$ 0
CNH | Minimum
Support Agreement
Consolidated fixed charges coverage ratio					1.05
Ownership percentage required to be maintained in the company					51%
Consolidated tangible net worth threshold					$ 50,000
Unsecured Debt
Debt
Maximum borrowing capacity					5,021,091				$ 4,437,890
Short-Term Outstanding					99,756				347,890
Current Maturities of Long-Term Outstanding					898,969				733,936
Long-Term Outstanding					4,022,366				3,356,064
Hedging effects, discounts and unamortized issuance costs					(43,419)				(41,385)
Hedging effects, discounts and unamortized issuance costs, short-term outstanding					(244)				(3,110)
Hedging effects, discounts and unamortized issuance costs, current maturities					(1,031)				7,532
Hedging effects, discounts and unamortized issuance costs, long-term					(42,144)				(45,807)
Secured Debt
Debt
Maximum borrowing capacity					6,055,273				5,221,355
Short-Term Outstanding					312,754				226,290
Current Maturities of Long-Term Outstanding					2,121,627				1,731,538
Long-Term Outstanding					3,620,892				3,263,527
Unamortized issuance costs					(15,240)				(14,089)
Notes
Debt
Maximum borrowing capacity					4,964,510				4,128,275
Current Maturities of Long-Term Outstanding					900,000				726,404
Long-Term Outstanding					4,064,510				3,401,871
Retail | Maximum
Debt
Maximum borrowing capacity					1,547,505
Retail | United States
Debt
Maximum borrowing capacity					1,200,000				1,000,000
Current Maturities of Long-Term Outstanding					192,268				227,598
Long-Term Outstanding					813,740				772,052
Available					193,992				350
Retail | Canada
Debt
Maximum borrowing capacity					347,505				377,339
Current Maturities of Long-Term Outstanding					46,621				74,265
Long-Term Outstanding					210,129				303,074
Available					90,755
Other ABS Financing
Debt
Maximum borrowing capacity					225,858				388,589
Current Maturities of Long-Term Outstanding					138,273				136,355
Long-Term Outstanding					87,585				252,234
Repurchase agreement
Debt
Maximum borrowing capacity					312,754				226,290
Short-Term Outstanding					312,754				226,290
Unsecured Facilities
Debt
Maximum borrowing capacity					988,252				815,848
Line of credit, outstanding amount					249,500
Short-Term Outstanding					250,000				100,000
Current Maturities of Long-Term Outstanding									150,936
Long-Term Outstanding									164,912
Available					738,752				400,000
Unamortized issuance costs					(500)
Revolving credit facilities
Debt
Maximum borrowing capacity					738,752				716,404
Current Maturities of Long-Term Outstanding									150,936
Long-Term Outstanding									165,468
Available					738,752				400,000
Unamortized issuance costs					(500)				(556)
Commercial paper
Debt
Maximum borrowing capacity					100,000				351,000
Short-Term Outstanding					100,000				351,000
Short-Term Outstanding, net					99,756
Amortizing Retail Term ABS
Debt
Maximum borrowing capacity					5,531,901				4,620,565
Current Maturities of Long-Term Outstanding					1,983,354				1,595,183
Long-Term Outstanding					3,548,547				3,025,382
Wholesale VFN | United States
Debt
Maximum borrowing capacity					1,600,000				1,550,000
Short-Term Outstanding					1,600,000				1,550,000
Wholesale VFN | Canada
Debt
Maximum borrowing capacity					347,505				377,339
Short-Term Outstanding					347,505				377,339
Committed Asset-Backed Facilities
Debt
Maximum borrowing capacity					3,495,010				3,304,678
Short-Term Outstanding					1,947,505				1,927,339
Current Maturities of Long-Term Outstanding					238,889				301,863
Long-Term Outstanding					1,023,869				1,075,126
Available					$ 284,747				350
Committed Asset-Backed Facilities | Maximum
Other disclosure
Maturity period of receivables					7 years
Unsecured Senior Notes
Debt
Debt amount					$ 4,921,335
Unsecured Senior Notes | CNH Industrial Capital LLC
Debt
Debt amount					4,160,515
Hedging effects, discounts and unamortized issuance costs					(39,485)
Unsecured Senior Notes | CNH Industrial Capital Canada Ltd
Debt
Debt amount					760,820
Unamortized issuance costs					(3,691)
4.500% unsecured notes due 2027 | CNH Industrial Capital LLC
Debt
Debt amount		$ 500,000			$ 500,000
Interest rate (as a percent)		4.50%			4.50%	4.50%
Issue price of debt (as a percent)		99.809%
4.000% unsecured notes due 2028 | CNH Industrial Capital Canada Ltd
Debt
Debt amount	$ 218,250				$ 208,503		$ 300,000
Interest rate (as a percent)	4%				4%	4%	4%
Issue price of debt (as a percent)	99.964%
Uncommitted credit line
Debt
Maximum borrowing capacity					$ 250,000				100,000
Short-Term Outstanding					250,000				$ 100,000
3.950% unsecured notes due 2025 | CNH Industrial Capital LLC
Debt
Debt amount					$ 500,000
Interest rate (as a percent)					3.95%	3.95%
5.450 % unsecured notes due 2025 | CNH Industrial Capital LLC
Debt
Debt amount					$ 400,000
Interest rate (as a percent)					5.45%	5.45%
1.875 % unsecured notes due 2026 | CNH Industrial Capital LLC
Debt
Debt amount					$ 500,000
Interest rate (as a percent)					1.875%	1.875%
1.450% unsecured notes, due 2026 | CNH Industrial Capital LLC
Debt
Debt amount					$ 600,000
Interest rate (as a percent)					1.45%	1.45%
4.550 % unsecured notes, due 2028 | CNH Industrial Capital LLC
Debt
Debt amount					$ 600,000
Interest rate (as a percent)					4.55%	4.55%
5.500% unsecured notes due 2029 | CNH Industrial Capital LLC
Debt
Debt amount					$ 500,000
Interest rate (as a percent)					5.50%	5.50%
5.100% unsecured notes, due 2029 | CNH Industrial Capital LLC
Debt
Debt amount				$ 600,000	$ 600,000
Interest rate (as a percent)				5.10%	5.10%	5.10%
Issue price of debt (as a percent)				99.157%
5.500% unsecured notes due 2026 | CNH Industrial Capital Canada Ltd
Debt
Debt amount					$ 278,004
Interest rate (as a percent)					5.50%	5.50%
4.800% unsecured notes, due 2027 | CNH Industrial Capital Canada Ltd
Debt
Debt amount			$ 294,480		$ 278,004			$ 400,000
Interest rate (as a percent)			4.80%		4.80%	4.80%		4.80%
Issue price of debt (as a percent)			99.876%
Secured Debt | Repurchase agreement
Debt
Debt amount					$ 312,754	$ 450,000
Repurchase receivable obligation term					30 days

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Sources of income before taxes
Domestic	$ 258,683	$ 218,113	$ 232,873
Foreign	55,640	58,915	57,129
INCOME BEFORE TAXES	314,323	277,028	290,002
Current income tax expense:
Domestic	85,671	109,762	112,615
Foreign	16,294	17,626	12,717
Total current income tax expense	101,965	127,388	125,332
Deferred income tax benefit:
Domestic	(28,442)	(59,051)	(55,494)
Foreign	(5,899)	(6,381)	1,042
Total deferred income tax benefit	(34,341)	(65,432)	(54,452)
Total tax provision	$ 67,624	$ 61,956	$ 70,880
Reconciliation of statutory and effective income tax rate
Tax provision at statutory rate (as a percent)	21%	21%	21%
State taxes (as a percent)	3.40%	3.70%	4.80%
Foreign taxes (as a percent)	(1.00%)	(1.30%)	(0.60%)
Tax credits and incentives (as a percent)	(1.60%)	(0.80%)	(0.60%)
Other (as a percent)	(0.30%)	(0.20%)	(0.20%)
Total tax provision effective rate (as a percent)	21.50%	22.40%	24.40%

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Components of net deferred tax assets
Pension, postretirement and post employment benefits	$ 1,569	$ 1,173
Marketing and sales incentive programs	94,283	75,631
Allowance for credit losses	25,513	23,122
Other accrued liabilities	43,210	38,576
Tax loss and tax credit carry forwards	1,702	1,812
Total deferred tax assets	166,277	140,314
Deferred tax liabilities:
Equipment on operating lease	249,765	257,705
Deferred tax assets	22,160	17,772
Deferred tax liabilities	(105,648)	(135,163)
Deferred tax liability, net	$ (83,488)	$ (117,391)

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Tax Contingencies and Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income tax examinations
U.S. federal corporate income tax rate (as a percent)	21%	21%	21%
Undistributed earnings of non-U.S. subsidiaries	$ 0

FINANCIAL INSTRUMENTS - General

FINANCIAL INSTRUMENTS - General Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Interest Rate Derivatives
Maximum length of time of interest rate derivative instruments designated in cash flow hedge relationships	52 months
After-tax losses deferred in accumulated other comprehensive income (loss) that will be recognized in interest expense over the next 12 months	$ 2,780

FINANCIAL INSTRUMENTS - Fair Ma

FINANCIAL INSTRUMENTS - Fair Market Value of Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair market value of derivatives
Derivative assets designated as hedging instruments, classified in other assets	$ 12,862	$ 22,633
Derivative liabilities designated as hedging instruments, classified in accounts payable and other accrued liabilities	21,087	32,579
Interest rate derivatives, derivative assets not designated as hedging instruments, classified in other assets	21,522	30,420
Foreign exchange contracts, derivatives not designated as hedging instruments, classified in other assets	2,996	2,601
Derivative assets not designated as hedging instruments, classified in other assets	24,518	33,021
Interest rate derivatives, derivative not designated as hedging instruments, classified in accounts payable and other accrued liabilities	21,522	30,420
Cash Flow Hedges, Recognized in accumulated other comprehensive income (loss), Interest rate derivatives	$ 173	$ (6,987)	$ 17,334
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax
Cash Flow Hedges, Reclassified from accumulated other comprehensive Income (loss), Interest rate derivatives - Interest expense to third parties	$ 3,218	$ 2,624	$ 1,090
Foreign exchange contracts, other expenses, net, not designated as hedges	(2,492)	1,828	$ (5,784)
Interest rate derivatives
Fair market value of derivatives
Total notional amount of interest rate derivatives	4,749,748	4,428,285
Thirteen-month average notional amounts of interest rate derivatives	$ 4,042,108	$ 3,803,373

FINANCIAL INSTRUMENTS - Items M

FINANCIAL INSTRUMENTS - Items Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Foreign exchange contracts	$ 2,996	$ 2,601
Liabilities
Assets transferred between Level 1, Level 2 and Level 3	0	0
Recurring | Level 2
Assets
Interest rate derivatives	34,384	53,053
Foreign exchange contracts	2,996	2,601
Total assets	37,380	55,654
Liabilities
Interest rate derivatives	$ 42,609	$ 62,999

FINANCIAL INSTRUMENTS - Fair Va

FINANCIAL INSTRUMENTS - Fair Value on a Nonrecurring Basis and Other Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Equipment held for sale	$ 48,873	$ 20,215

FINANCIAL INSTRUMENTS - Carryin

FINANCIAL INSTRUMENTS - Carrying Amount and Estimated Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Financial Instruments Not Carried at Fair Value
Receivables, less allowance for credit losses of $58,094 and $54,889, respectively	$ 13,992,556	$ 13,455,717
Long-term debt	8,666,627	7,859,629
Carrying Amount
Financial Instruments Not Carried at Fair Value
Receivables, less allowance for credit losses of $58,094 and $54,889, respectively	13,992,556	13,455,717
Long-term debt	8,666,627	7,859,629
Estimated Fair Value
Financial Instruments Not Carried at Fair Value
Receivables, less allowance for credit losses of $58,094 and $54,889, respectively	14,040,507	13,224,506
Long-term debt	$ 8,654,374	$ 7,739,874

SEGMENT INFORMATION - Segment's

SEGMENT INFORMATION - Segment's net income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
REVENUES
Interest and other income from affiliates	$ 519,837	$ 434,257	$ 268,267
Total revenues	1,316,541	1,072,653	791,835
EXPENSES
Interest expense to third parties	697,651	500,493	232,446
Provision for credit losses	49,158	11,579	11,241
Depreciation of equipment on operating leases	179,671	178,969	201,582
Income tax provision	67,624	61,956	70,880
NET INCOME	246,699	215,072	219,122
Related Party
EXPENSES
Interest expense to affiliates	8,387	33,746	9,361
Fees charged by affiliates	47,611	53,804	50,858
Single Reporting Segment | Operating segment
REVENUES
Revenues and other income from third parties	796,704	638,396	523,568
Interest and other income from affiliates	519,837	434,257	268,267
Total revenues	1,316,541	1,072,653	791,835
EXPENSES
Interest expense to third parties	697,651	500,493	232,446
Interest expense to affiliates	8,387	33,746	9,361
Fees charged by affiliates	47,611	53,804	50,858
Provision for credit losses	49,158	11,579	11,241
Depreciation of equipment on operating leases	179,671	178,969	201,582
Gains on sale of used equipment	(3,732)	(16,896)	(27,525)
Other general and administrative	23,472	33,930	23,870
Income tax provision	67,624	61,956	70,880
Total expenses	1,069,842	857,581	572,713
NET INCOME	$ 246,699	$ 215,072	$ 219,122

GEOGRAPHICAL INFORMATION (Detai

GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Geographical Information
Revenues	$ 1,316,541	$ 1,072,653	$ 791,835
Interest expense	706,038	534,239	241,807
Net income	246,699	215,072	219,122
Depreciation and amortization	182,690	181,916	203,749
Expenditures for equipment on operating leases	618,396	521,144	517,623
Provision (benefit)	49,158	11,579	11,241
Additional disclosures
Total assets	16,926,908	15,963,527	13,179,479
Gross receivables	14,122,539	13,570,462	10,866,832
Eliminations
Geographical Information
Revenues	(895)	(1,601)	(3,828)
Interest expense	(895)	(1,601)	(3,828)
Additional disclosures
Total assets	(241,410)	(148,521)	(216,656)
United States
Geographical Information
Net income	201,454	167,403	175,752
Depreciation and amortization	126,793	129,247	152,871
Expenditures for equipment on operating leases	453,511	354,015	354,817
Provision (benefit)	44,643	12,897	9,978
Additional disclosures
Gross receivables	11,559,317	11,134,365	8,758,694
United States | Reportable Geographical Segment
Geographical Information
Revenues	1,064,569	860,081	626,754
Interest expense	579,527	443,629	195,728
Additional disclosures
Total assets	13,987,559	13,034,959	10,712,413
Canada
Geographical Information
Net income	45,245	47,669	43,370
Depreciation and amortization	55,897	52,669	50,878
Expenditures for equipment on operating leases	164,885	167,129	162,806
Provision (benefit)	4,515	(1,318)	1,263
Additional disclosures
Gross receivables	2,563,222	2,436,097	2,108,138
Canada | Reportable Geographical Segment
Geographical Information
Revenues	252,867	214,173	168,909
Interest expense	127,406	92,211	49,907
Additional disclosures
Total assets	$ 3,180,759	$ 3,077,089	$ 2,683,722

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
RELATED-PARTY TRANSACTIONS
Retail customer	$ 368,001	$ 288,067	$ 216,528
Operating lease	238,824	237,178	248,335
Revolving charge accounts	43,152	39,568
Wholesale	131,062	66,015	28,659
Total interest and other income from affiliates	519,837	434,257	268,267
Other information
Interest expense to affiliates	706,038	534,239	241,807
Related Party
RELATED-PARTY TRANSACTIONS
Affiliated receivables	401,285	74,667
Affiliated debt		132,492
Other information
Interest expense to affiliates	8,387	33,746	9,361
Fees charged by affiliates	47,611	53,804	50,858
Accounts payable and other accrued liabilities payable to related parties	50,915	82,621
CNH North America
RELATED-PARTY TRANSACTIONS
Retail customer	220,180	140,195	123,874
Operating lease	37,327	40,852	47,194
Revolving charge accounts	4,615	4,106
Wholesale	250,053	242,062	95,138
CNH North America
RELATED-PARTY TRANSACTIONS
Lending funds	4,412	3,430	713
CNH America
RELATED-PARTY TRANSACTIONS
Affiliated receivables	317,587	$ 13,377
Rate of accounts and notes receivable (as a percent)		0%
Rate of debt due (as a percent)		5.68%
Affiliated debt		$ 86,234
CNH Canada
RELATED-PARTY TRANSACTIONS
Affiliated receivables	35,006	$ 704
Rate of accounts and notes receivable (as a percent)		0%
Rate of debt due (as a percent)		5.76%
Affiliated debt		$ 46,258
Banco CNH Industrial Capital Brazil
RELATED-PARTY TRANSACTIONS
Lending funds	2,464	2,864	983
Affiliated receivables	36,182	47,997
Other affiliates
RELATED-PARTY TRANSACTIONS
Lending funds	786	748	$ 365
Affiliated receivables	$ 12,510	$ 12,589
Rate of accounts and notes receivable (as a percent)	0%	0%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Guarantees
Payment guarantees on the financial debt of various foreign financial services subsidiaries	$ 50,400
Wholesale and dealer financing
Guarantees
Total credit limit	7,716,172
Utilized	4,739,263
Not Utilized	2,976,909
Revolving charge accounts
Guarantees
Total credit limit	2,705,600
Utilized	239,915
Not Utilized	$ 2,465,685