EX-99.1

Exhibit 99.1

2016 SECOND QUARTER RESULTS

CNH Industrial 2016 second quarter revenues of $6.8 billion, with operating margin of Industrial Activities increasing to 7% and net industrial debt reduced by $0.3 billion in the quarter

Financial results presented under U.S. GAAP⁽¹⁾

•

Reported net income was $129 million in the second quarter of 2016, with diluted EPS of $0.10

•

Industrial Activities operating profit⁽²⁾ and margin increased year-over-year, led by improvements in Agricultural Equipment, Commercial Vehicles, and Powertrain segments:

•

Agricultural Equipment profitable in all regions, with best-in-class operating margin at 10.7%

•

Commercial Vehicles solidly profitable, with 3.9% operating margin

•

Net industrial debt⁽²⁾ of $2.1 billion at June 30, 2016, $0.3 billion lower than March 31, 2016 from $0.6 billion in cash flow generated from Industrial Activities

•

Full year Industrial Activities net sales and operating margin guidance reaffirmed; net industrial debt guidance at between $1.5 billion and $1.8 billion excluding the European Commission settlement (approximately $500 million)


Summary of Results *($ million except EPS)*
Six Months Ended June 30,							Three Months Ended June 30,
2016	2015		Change				2016		2015		Change
12,125		12,918		-6.1	%	Revenues		6,753		6,958		-2.9	%
(384)		145		-529		Net income (loss)		129		122		7
217		174		43		Adjusted net income^{(2) (3)}		216		141		75
(0.28)		0.11		-0.39		Basic EPS ($)		0.10		0.09		0.01
(0.28)		0.11		-0.39		Diluted EPS ($)		0.10		0.09		0.01
0.16		0.13		0.03		Adjusted diluted EPS⁽²⁾ ($)		0.16		0.11		0.05

London (UK) – (July 26, 2016) CNH Industrial N.V. (NYSE:CNHI / MI:CNHI) today announced consolidated revenues of $6,753 million for the second quarter 2016, down 2.9% compared to the second quarter 2015. Net sales of Industrial Activities were $6,450 million in Q2 2016, down 2.8% compared to the same period in 2015. Reported net income was $129 million in the second quarter, which includes an additional non-tax deductible charge of $49 million following finalization of the European Commission settlement on the truck competition investigation. Adjusted net income was $216 million for the quarter.

Operating profit of Industrial Activities was $453 million for the second quarter, a $52 million increase compared to the same period in 2015, with an operating margin of 7.0%, up 1.0 p.p. compared to the second quarter 2015. “Our second quarter results were solid; we continued to demonstrate our ability to execute across the breadth of our business and geographic portfolio despite the large disparity of demand conditions prevalent in the capital goods sector,” said Richard Tobin, Chief Executive Officer of CNH Industrial. “Our ability to increase operating profit in the Agricultural Equipment segment and our trend of improved results in Commercial Vehicles solidify our belief that the benefits of our efficiency plan on product cost and quality are taking hold.”

(1)

CNH Industrial reports quarterly and annual consolidated financial results under U.S. GAAP and EU-IFRS. The tables and discussion related to the financial results of the Company and its segments shown in this press release are prepared in accordance with U.S. GAAP. Financial results under EU-IFRS are shown in specific tables at the end of this press release.

(2)

This item is a non-GAAP financial measure. Refer to the “Non-GAAP Financial Information” section of this press release for information regarding non-GAAP financial measures.

(3)

Refer to the specific table in the “Other Supplemental Financial Information” section of this press release for the reconciliation between “Net income (loss)” and “Adjusted net income”.

CNH Industrial N.V.

Corporate Office:

25 St. James’s Street

London, SW1A 1HA

United Kingdom

Excluding the impact of the additional non-tax deductible charge for the EC settlement, the effective tax rate was 37% for the quarter, resulting in a 46% effective tax rate year-to-date. The Company’s long-term effective tax rate objective remains unchanged at between 34% to 36%.

Net industrial debt was $2.1 billion at June 30, 2016, after the payment of $0.2 billion in dividends to shareholders in April 2016. The $0.3 billion improvement compared to March 31, 2016 was primarily attributable to the $0.6 billion operating cash flow generated from Industrial Activities in the second quarter 2016. Total Debt of $26.3 billion at June 30, 2016, was $0.5 billion higher than at March 31, 2016 primarily as a result of the issuance of new notes for €550 million in the second quarter, and in line with December 31, 2015. As of June 30, 2016, available liquidity (including cash, cash equivalents and restricted cash of $5.8 billion, and undrawn committed facilities of $3.0 billion) was $8.8 billion, up $0.6 billion compared to March 31, 2016 and down $0.5 billion compared to December 31, 2015.

Agricultural Equipment’s net sales decreased 7.5% for the second quarter 2016 compared to the same period in 2015 (down 6.3% on a constant currency basis), as a result of lower industry volume, unfavorable product mix in the row crop sector in NAFTA and unfavorable industry volume in the small grain sector in EMEA. Net sales increased in APAC, mainly driven by higher volume in Australia. Sales in specialty tractors and harvesters in EMEA remain strong, and in LATAM sugar cane harvester demand offset the industry decline for tractors.

Operating profit was $301 million for the second quarter ($263 million in the second quarter 2015). The increase was primarily due to positive pricing and cost containment actions, including material cost reductions, and favorable foreign exchange impact. Operating margin increased 2.0 p.p. to 10.7%.

Construction Equipment’s net sales decreased 19.6% for the second quarter 2016 compared to the same period in 2015 (down 18.4% on a constant currency basis), due to negative industry volumes primarily in the heavy product class in all regions.

Operating profit was $17 million for the second quarter 2016 ($35 million in the second quarter 2015). Operating margin decreased 1.8 p.p. to 2.9%, as a result of lower volumes in NAFTA and negative industrial absorption partially offset by lower product cost and other cost containment actions. Second quarter production was 13% lower than the previous year to balance channel inventory with current demand conditions.

Commercial Vehicles’ net sales increased 5.1% for the second quarter 2016 compared to the same period in 2015 (up 6.0% on a constant currency basis), as a result of increased truck deliveries in EMEA. In LATAM, net sales decreased due to lower industry volumes in Brazil and Argentina. Specialty vehicle unit deliveries declined 53% as a result of reduced deliveries of defence vehicles in Europe.

Operating profit was $100 million for the second quarter 2016, a $33 million increase compared to Q2 2015, or a $58 million increase excluding the $25 million operating profit recorded by our Venezuelan subsidiary in Q2 2015 before the currency re-measurement in the second half of 2015. The increase was primarily a result of

positive pricing, material cost reductions and manufacturing efficiencies in EMEA offsetting the difficult trading conditions in LATAM commercial vehicles, and reduced activity levels in the specialty vehicle business. Operating margin increased 1.2 p.p. to 3.9%.

Powertrain’s net sales increased 8.0% in the second quarter 2016 compared to the same period in 2015 (up 7.0% on a constant currency basis) due to higher sales volumes to third parties. Sales to external customers accounted for 46% of total net sales (42% in Q2 2015) as the benefits of our SCR-only technology solutions continue to gain market recognition.

Operating profit was $66 million for the second quarter, a $13 million increase compared to the second quarter 2015, with an operating margin of 6.5% (up 0.9 p.p. compared to Q2 2015). The improvement was due to higher sales volumes, improved product mix and manufacturing efficiencies.

Financial Services’ revenues totaled $399 million in the second quarter 2016, a 5.7% decrease compared to the same period in 2015 (down 3.4% on a constant currency basis), due to a lower average portfolio, a reduction in interest spreads and the negative impact of currency translation. In the second quarter 2016, retail loan originations (including unconsolidated joint ventures) were $2.3 billion, down $0.1 billion compared to the second quarter 2015, primarily due to the decline in Agricultural Equipment sales. The managed portfolio (including unconsolidated joint ventures) of $25.3 billion as of June 30, 2016 (of which retail was 64% and wholesale 36%) was down $0.1 billion compared to June 30, 2015 (up $0.2 billion on a constant currency basis).

Net income was $87 million for the second quarter 2016, a decrease of $11 million over the same period in 2015, primarily due to the lower average portfolio and the reduction in interest spreads.

CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com

Today, at 3:30 p.m. CEST / 2:30 p.m. BST / 9:30 a.m. EDT, management will hold a conference call to present 2016 second quarter and first half results to financial analysts and institutional investors. The call can be followed live online at: http://bit.ly/29NCzqp and a recording will be available later on the Company’s website (www.cnhindustrial.com). A presentation will be made available on the CNH Industrial website prior to the call.

CNH Industrial monitors its operations through the use of several non-GAAP financial measures. CNH Industrial’s management believes that these non-GAAP financial measures provide useful and relevant information regarding its results and allow management and investors to assess CNH Industrial’s operating trends, financial performance and financial position. Management uses these non-GAAP measures to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions as they provide additional transparency with respect to our core operations. These non-GAAP financial measures have no standardized meaning presented in U.S. GAAP or EU-IFRS and are unlikely to be comparable to other similarly titled measures used by other companies due to potential differences between the companies in calculations. As a result, the use of these non-GAAP measures has limitations and should not be considered as substitutes for measures of financial performance and financial position prepared in accordance with U.S. GAAP and/or EU-IFRS.

The tables attached to this press release provide reconciliations of the non-GAAP measures used in this press release to the most directly comparable GAAP measures.

All statements other than statements of historical fact contained in this earning release including statements regarding our competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, capital structure or other financial items; costs; and plans and objectives of management regarding operations and products, are forward-looking statements. These statements may include terminology such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “outlook”, “continue”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “prospects”, “plan”, or similar terminology. Forward-looking statements are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are outside our control and are difficult to predict. If any of these risks and uncertainties materialize or other assumptions underlying any of the forward-looking statements prove to be incorrect, the actual results or developments may differ materially from any future results or developments expressed or implied by the forward-looking statements. Factors, risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others: the many interrelated factors that affect consumer confidence and worldwide demand for capital goods and capital goods-related products; general economic conditions in each of our markets; changes in government policies regarding banking, monetary and fiscal policies; legislation, particularly relating to capital goods-related issues such as agriculture, the environment, debt relief and subsidy program policies, trade and commerce and infrastructure development; government policies on international trade and investment, including sanctions, import quotas, capital controls and tariffs; actions of competitors in the various industries in which we compete; development and use of new technologies and technological difficulties; the interpretation of, or adoption of new, compliance requirements with respect to engine emissions, safety or other aspects of our products; production difficulties, including capacity and supply constraints and excess inventory levels; labor relations; interest rates and currency exchange rates; inflation and deflation; energy prices; prices for agricultural commodities; housing starts and other construction activity; our ability to obtain financing or to refinance existing debt; a decline in the price of used vehicles; the resolution of pending litigation and investigations on a wide range of topics, including dealer and supplier litigation, intellectual property rights disputes, product warranty and defective product claims, and emissions and/or fuel economy regulatory and contractual issues; the evolution of our contractual relations with Kobelco Construction Machinery Co., Ltd. and Sumitomo (S.H.I.) Construction Machinery Co., Ltd.; our pension plans and other post-employment obligations; political and civil unrest; volatility and deterioration of capital and financial markets, including further deterioration of the Eurozone sovereign debt crisis, other similar risks and uncertainties and our success in managing the risks involved in the foregoing. Further information concerning factors, risks, and uncertainties that could materially affect the Company’s financial results is included in our annual report on Form 20-F for the year ended December 31, 2015, prepared in accordance with U.S. GAAP and in our EU Annual Report at December 31, 2015, prepared in accordance with EU-IFRS. Investors should refer to and consider the incorporated information on risks, factors, and uncertainties in addition to the information presented here.

Forward-looking statements speak only as of the date on which such statements are made. Furthermore, in light of ongoing difficult macroeconomic conditions, both globally and in the industries in which we operate, it is particularly difficult to forecast our results and any estimates or forecasts of particular periods that we provide in this earnings release are uncertain. Accordingly, investors should not place undue reliance on such forward-looking statements. We can give no assurance that the expectations reflected in our forward-looking statements will prove to be correct. Our outlook is based upon assumptions relating to the factors described in the earnings release, which are sometimes based upon estimates and data received from third parties. Such estimates and data are often revised. Our actual results could differ materially from

those anticipated in such forward-looking statements. We undertake no obligation to update or revise publicly our outlook or forward-looking statements. Further information concerning CNH Industrial and its businesses, including factors that potentially could materially affect CNH Industrial’s financial results, is included in CNH Industrial’s reports and filings with the U.S. Securities and Exchange Commission (“SEC”), the Autoriteit Financiële Markten (“AFM”) and Commissione Nazionale per le Società e la Borsa (“CONSOB”).

All future written and oral forward-looking statements by CNH Industrial or persons acting on the behalf of CNH Industrial are expressly qualified in their entirety by the cautionary statements contained herein or referred to above.

For The Three Months Ended June 30, 2016 and 2015 and For the Six Months Ended June 30, 2016 and 2015

These Condensed Consolidated Statements of Operations should be read in conjunction with the Company’s Audited Consolidated Financial Statements and Notes for the Year Ended December 31, 2015 included in the Annual Report on Form 20-F. These Condensed Consolidated Statements of Operations represent the consolidation of all CNH Industrial N.V. subsidiaries.

These Condensed Consolidated Statements of Cash Flows should be read in conjunction with the Company’s Audited Consolidated Financial Statements and Notes for the Year Ended December 31, 2015 included in the Annual Report on Form 20-F. These Condensed Consolidated Statements of Cash Flows represent the consolidation of all CNH Industrial N.V. subsidiaries.

For The Three Months Ended June 30, 2016 and 2015 and For The Six Months Ended June 30, 2016 and 2015

These Supplemental Statements of Operations are presented for informational purposes. The supplemental Industrial Activities data in these statements (with Financial Services on the equity basis) include CNH Industrial N.V.’s Agricultural Equipment, Construction Equipment, Commercial Vehicles and Powertrain segments, as well as Corporate functions. The supplemental Financial Services data in these statements refer to CNH Industrial N.V.’s Financial Services segment. Transactions between Industrial Activities and Financial Services have been eliminated to arrive at the consolidated financial statements.

These Supplemental Balance Sheets are presented for informational purposes. The supplemental Industrial Activities data in these statements (with Financial Services on the equity basis) include CNH Industrial N.V.’s Agricultural Equipment, Construction Equipment, Commercial Vehicles and Powertrain segments, as well as Corporate functions. The supplemental Financial Services data in these statements refer to CNH Industrial N.V.’s Financial Services segment. Transactions between Industrial Activities and Financial Services have been eliminated to arrive at the consolidated financial statements.

These Supplemental Statements of Cash Flows are presented for informational purposes. The supplemental Industrial Activities data in these statements (with Financial Services on the equity basis) include CNH Industrial N.V.’s Agricultural Equipment, Construction Equipment, Commercial Vehicles and Powertrain segments, as well as Corporate functions. The supplemental Financial Services data in these statements refer to CNH Industrial N.V.’s Financial Services segment. Transactions between Industrial Activities and Financial Services have been eliminated to arrive at the consolidated financial statements.

For The Three Months Ended June 30, 2016 and 2015 and For the Six Months Ended June 30, 2016 and 2015

This Condensed Consolidated Income Statement should be read in conjunction with the Company’s Audited Consolidated Financial Statements and Notes for the Year Ended December 31, 2015 included in the EU Annual Report. This Condensed Consolidated Income Statement represents the consolidation of all CNH Industrial N.V. subsidiaries.

This Condensed Consolidated Statement of Financial Position should be read in conjunction with the Company’s Audited Consolidated Financial Statements and Notes for the Year Ended December 31, 2015 included in the EU Annual Report. This Condensed Consolidated Statement of Financial Position represents the consolidation of all CNH Industrial N.V. subsidiaries.

These Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Company’s Audited Consolidated Financial Statements and Notes for the Year Ended December 31, 2015 included in the EU Annual Report. This Condensed Consolidated Statement of Cash Flows represents the consolidation of all CNH Industrial N.V. subsidiaries.

Translation of financial statements denominated in a currency other than the U.S. dollar

The principal exchange rates used to translate into U.S. dollars the financial statements prepared in currencies other than the U.S. dollar were as follows:


CNH INDUSTRIAL Revenues by Segment *($ million)*
Six Months Ended June 30,									Three Months Ended June 30,
2016	2015			% change		% change excl. FX⁽¹⁾			2016			2015			% change		% change excl. FX⁽¹⁾
4,932		5,612			-12.1		-9.6	Agricultural Equipment		2,808			3,035			-7.5		-6.3
1,131		1,342			-15.7		-13.8	Construction Equipment		595			740			-19.6		-18.4
4,640		4,507			3.0		5.7	Commercial Vehicles		2,595			2,470			5.1		6.0
1,905		1,848			3.1		4.0	Powertrain		1,023			947			8.0		7.0
(1,082)		(1,050	)		—		—	Eliminations and other		(571	)		(558	)		—		—

11,526		12,259			-6.0		-3.6	Total Industrial Activities		6,450			6,634			-2.8		-1.8

787		836			-5.9		-1.8	Financial Services		399			423			-5.7		-3.4
(188)		(177	)		—		—	Eliminations and other		(96	)		(99	)		—		—

12,125		12,918			-6.1		-3.7	Total		6,753			6,958			-2.9		-1.9

(1) “Change excl. FX” or “constant currency” is a non-GAAP financial measure. Refer to the “Non-GAAP Financial Information” section of this press release for information regarding non-GAAP financial measures.


CNH INDUSTRIAL Operating Profit (loss)⁽¹⁾by Segment ($ million)
Six Months Ended June 30,														Three Months Ended June 30,
2016 Profit		2015 Profit			$ change		2016 Margin			2015 Margin				2016 Profit			2015 Profit			$ change		2016 Margin			2015 Margin
	391		467			-76		7.9	%		8.3	%	Agricultural Equipment		301			263			38		10.7	%		8.7	%
	31		35			-4		2.7	%		2.6	%	Construction Equipment		17			35			-18		2.9	%		4.7	%
	138		68			70		3.0	%		1.5	%	Commercial Vehicles		100			67			33		3.9	%		2.7	%
	119		89			30		6.2	%		4.8	%	Powertrain		66			53			13		6.5	%		5.6	%
	(48)		(35	)		-13		—			—		Eliminations and other		(31	)		(17	)		-14		—			—

	631		624			7		5.5	%		5.1	%	Total Industrial Activities		453			401			52		7.0	%		6.0	%

	249		269			-20		31.6	%		32.2	%	Financial Services		119			140			-21		29.8	%		33.1	%
	(160)		(142	)		-18		—			—		Eliminations and other		(84	)		(74	)		-10		—			—

	720		751			-31		5.9	%		5.8	%	Total		488			467			21		7.2	%		6.7	%


Contacts

Media Inquiries				Investor Relations

United Kingdom

Richard Gadeselli				Federico Donati
Tel: +44 207 7660 346				Tel: +44 207 7660 386

Laura Overall				Noah Weiss
Tel: +44 207 7660 346				Tel: +1 630 887 3745

Italy

Francesco Polsinelli
Tel: +39 335 1776091

Cristina Formica
Tel: +39 011 0062464

e-mail: mediarelations@cnhind.com
www.cnhindustrial.com


	Three Months Ended June 30,						Six Months Ended June 30,
($ million)	2016			2015			2016			2015
Revenues
Net sales		6,450			6,634			11,526			12,259
Finance and interest income		303			324			599			659

TOTAL REVENUES		6,753			6,958			12,125			12,918

Costs and Expenses
Cost of goods sold		5,252			5,456			9,490			10,172
Selling, general and administrative expenses		595			626			1,141			1,193
Research and development expenses		225			225			408			415
Restructuring expenses		10			22			25			34
Interest expense		240			282			470			566
Other, net⁽¹⁾		190			112			820			212

TOTAL COSTS AND EXPENSES		6,512			6,723			12,354			12,592

INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN INCOME OF UNCONSOLIDATED SUBSIDIARIES AND AFFILIATES		241			235			(229	)		326

Income taxes		107			126			147			203
Equity in income of unconsolidated subsidiaries and affiliates⁽²⁾		(5	)		13			(8	)		22

NET INCOME (LOSS)		129			122			(384	)		145
Net income (loss) attributable to noncontrolling interests		3			(2	)		2			(1	)
NET INCOME (LOSS) ATTRIBUTABLE TO CNH INDUSTRIAL N.V.		126			124			(386	)		146


(in $)
Earnings per share attributable to common shareholders
Basic		0.10			0.09			(0.28	)		0.11
Diluted		0.10			0.09			(0.28	)		0.11
Cash dividends declared per common share		0.148			0.216			0.148			0.216


($ million)	June 30, 2016			December 31, 2015⁽¹⁾
Cash and cash equivalents		4,882			5,384
Restricted cash		934			927
Trade receivables, net		742			580
Financing receivables, net		19,116			19,001
Inventories, net		6,672			5,690
Property, plant and equipment, net		6,451			6,481
Investments in unconsolidated subsidiaries and affiliates		478			527
Equipment under operating leases		1,892			1,835
Goodwill		2,458			2,447
Other intangible assets, net		792			810
Deferred tax assets		1,024			1,250
Derivative assets		142			211
Other assets		1,817			1,534

TOTAL ASSETS		47,400			46,677

Debt		26,308			26,301
Trade payables		5,761			5,342
Deferred tax liabilities		68			334
Pension, postretirement and other postemployment benefits		2,235			2,282
Derivative liabilities		238			69
Other liabilities		8,342			7,488

Total Liabilities		42,952			41,816

Redeemable noncontrolling interest		20			18

Common shares, €0.01 par value; outstanding 1,361,478,726 common shares and 413,204,114 special voting shares at 06/30/2016; and outstanding 1,362,048,989 common shares and 413,249,206 special voting shares at 12/31/2015		25			25
Treasury stock, at cost - 1,430,885 shares in 2016 and 0 shares in 2015		(9	)		—
Additional paid in capital		4,427			4,399
Retained earnings		1,655			2,241
Accumulated other comprehensive loss		(1,682	)		(1,863	)
Noncontrolling interests		12			41
Equity		4,428			4,843

TOTAL EQUITY AND LIABILITIES		47,400			46,677


	Industrial Activities										Financial Services
	Three Months Ended June 30,					Six Months Ended June 30,					Three Months Ended June 30,				Six Months Ended June 30,
($ million)	2016			2015		2016			2015		2016		2015		2016		2015
Revenues
Net sales		6,450			6,634		11,526			12,259		—		—		—		—
Finance and interest income		33			59		64			130		399		423		787		836

TOTAL REVENUES		6,483			6,693		11,590			12,389		399		423		787		836

Costs and Expenses
Cost of goods sold		5,252			5,456		9,490			10,172		—		—		—		—
Selling, general and administrative expenses		520			552		997			1,048		75		74		144		145
Research and development expenses		225			225		408			415		—		—		—		—
Restructuring expenses		9			21		24			33		1		1		1		1
Interest expense		152			175		302			349		132		151		258		307
Interest compensation to Financial Services		85			75		161			146		—		—		—		—
Other, net		116			91		681			164		74		60		140		119

TOTAL COSTS AND EXPENSES		6,359			6,595		12,063			12,327		282		286		543		572

INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN INCOME OF UNCONSOLIDATED SUBSIDIARIES AND AFFILIATES		124			98		(473	)		62		117		137		244		264
Income taxes		70			82		64			112		37		44		83		91
Equity in income of unconsolidated subsidiaries and affiliates		(12	)		8		(21	)		12		7		5		13		10
Results from intersegment investments		87			98		174			183		—		—		—		—

NET INCOME (LOSS)		129			122		(384	)		145		87		98		174		183


CNH INDUSTRIAL Reconciliation of Operating Profit (loss) to Net Income (loss) under U.S. GAAP ($ million)
Six Months Ended June 30,						Three Months Ended June 30,
2016		2015				2016			2015
	720		751		Total Operating Profit		488			467
	25		34		Restructuring expenses		10			22
	239		223		Interest expenses of Industrial Activities, net of interest income and eliminations		120			117
	(685)		(168	)	Other, net		(117	)		(93	)
	(229)		326		Income (loss) before income taxes and equity in income of unconsolidated subsidiaries and affiliates		241			235
	147		203		Income taxes		107			126
	(8)		22		Equity in income of unconsolidated subsidiaries and affiliates		(5	)		13
	(384)		145		Net income (loss)		129			122


CNH INDUSTRIAL Net debt under U.S. GAAP ($ million)
	Consolidated				Industrial Activities				Financial Activities
	June 30, 2016		December 31, 2015⁽¹⁾		June 30, 2016		December 31, 2015⁽¹⁾		June 30, 2016		December 31, 2015⁽¹⁾
Third party debt		26,308		26,301		7,529		7,214		18,779		19,087
Intersegment notes payable		—		—		714		1,046		1,751		2,089

Total Debt⁽²⁾		26,308		26,301		8,243		8,260		20,530		21,176

Less:
Cash and cash equivalents		4,882		5,384		4,330		4,551		552		833
Restricted cash		934		927		—		15		934		912
Intersegment notes receivable		—		—		1,751		2,089		714		1,046
Derivatives hedging debt		27		27		27		27		—		—

Net debt (cash)⁽³⁾		20,465		19,963		2,135		1,578		18,330		18,385

(1) Certain amounts have been recast to conform to the current presentation of debt issuance costs in the balance sheet following the adoption of a new guidance effective January 1, 2016. The impact was $87 million on consolidated Net debt, of which $44 million related to Industrial Activities and $43 million related to Financial Services. (2) Total Debt of Industrial Activities includes Intersegment notes payable to Financial Services of $714 million and $1,046 million at June 30, 2016 and December 31, 2015, respectively. Total Debt of Financial Services includes Intersegment notes payable to Industrial Activities of $1,751 million and $2,089 million at June 30, 2016 and December 31, 2015, respectively. (3) The net intersegment receivable/payable balance owed by Financial Services to Industrial Activities was $1,037 million and $1,043 million as of June 30, 2016 and December 31, 2015, respectively.


CNH INDUSTRIAL Change in Net Industrial Debt under U.S. GAAP ($ million)
Six Months Ended June 30,							Three Months Ended June 30,
2016			2015⁽¹⁾				2016			2015⁽¹⁾
	(1,578	)⁽¹⁾		(2,628	)	Net industrial (debt)/cash at beginning of period		(2,470	)		(2,998	)
	(384	)		145		Net income (loss)		129			122
	355			346		Amortization and depreciation⁽²⁾		178			174
	650			(116	)	Changes in provisions and similar⁽³⁾		186			(61	)
	(484	)		(627	)	Change in working capital		189			413
	(172	)		(224	)	Investments in property, plant and equipment, and intangible assets⁽²⁾		(92	)		(136	)
	15			(2	)	Other changes		12			7
	(20	)		(478	)	Net industrial cash flow		602			519
	(218	)		(277	)	Capital increases and dividends⁽⁴⁾		(211	)		(279	)
	(319	)		420		Currency translation differences and other		(56	)		(205	)
	(557	)		(335	)	Change in Net industrial debt		335			35
	(2,135	)		(2,963	)	Net industrial (debt)/cash at end of period		(2,135	)		(2,963	)


CNH INDUSTRIAL Adjusted net income (loss) and Adjusted diluted EPS under U.S.GAAP ($ million, except per share data)
Six Months Ended June 30,						Three Months Ended June 30,
2016		2015				2016		2015
	(384)		145		Net income (loss)		129		122
	25		34		Restructuring expenses		10		22
	551		—		EC settlement		49		—
	28		—		Chinese JV charge for exiting a line of business		28		—
	(3)		(5	)	Tax impact on adjustments		—		(3	)
	217		174		Adjusted net income		216		141
	215		175		Adjusted net income attributable to CNH Industrial N.V.		213		143
	1,364		1,363		Weighted average shares outstanding – diluted (million)		1,364		1,363
	0.16		0.13		Adjusted diluted EPS ($)		0.16		0.11


($ million)	June 30, 2016		December 31, 2015
ASSETS
Intangible assets		5,685		5,680
Property, plant and equipment		6,347		6,371
Investments and other financial assets:		541		601
Investments accounted for using the equity method		494		560
Other investments and financial assets		47		41
Leased assets		1,892		1,835
Defined benefit plan assets		7		6
Deferred tax assets		1,029		1,256

Total Non-current assets		15,501		15,749

Inventories		6,777		5,800
Trade receivables		742		580
Receivables from financing activities		19,116		19,001
Current tax receivables		387		371
Other current assets		1,288		1,017
Current financial assets:		180		265
Current securities		38		54
Other financial assets		142		211
Cash and cash equivalents		5,816		6,311

Total Current assets		34,306		33,345

Assets held for sale		20		23

TOTAL ASSETS		49,827		49,117

EQUITY AND LIABILITIES
Issued capital and reserves attributable to owners of the parent		6,778		7,170
Non-controlling interests		18		47

Total Equity		6,796		7,217

Provisions:		6,121		5,589
Employee benefits		2,411		2,494
Other provisions		3,710		3,095
Debt:		26,411		26,458
Asset-backed financing		12,147		12,999
Other debt		14,264		13,459
Other financial liabilities		238		69
Trade payables		5,761		5,342
Current tax payables		186		126
Deferred tax liabilities		159		409
Other current liabilities		4,155		3,907
Liabilities held for sale		—		—

Total Liabilities		43,031		41,900

TOTAL EQUITY AND LIABILITIES		49,827		49,117


CNH INDUSTRIAL Trading profit/(loss)⁽¹⁾ by Segment under EU-IFRS *($ million)*
Six Months Ended June 30,								Three Months Ended June 30,
2016		2015			Change			2016			2015			Change
	247		368			-121	Agricultural Equipment		228			211			17
	(9)		15			-24	Construction Equipment		(3	)		19			-22
	93		34			59	Commercial Vehicles		78			56			22
	110		78			32	Powertrain		64			50			14
	(48)		(36	)		-12	Eliminations and other		(31	)		(17	)		-14
	393		459			-66	Total of Industrial Activities		336			319			17
	245		265			-20	Financial Services		118			138			-20
	—		—			—	Eliminations and other		—			—			—

	638		724			-86	Total		454			457			-3


CNH INDUSTRIAL Key Balance Sheet data under EU-IFRS *($ million)*
	June 30, 2016			March 31, 2016			December 31, 2015
Total Assets		49,827			48,995			49,117
Total Equity		6,796			6,793			7,217
Equity attributable to CNH Industrial N.V.		6,778			6,774			7,170
Net debt⁽¹⁾		(20,653	)		(20,661	)		(19,951	)
Of which Net industrial debt⁽¹⁾		*(2,282*	)		(2,499	)		(1,570	)


CNH INDUSTRIAL Net income reconciliation *($ million)*
Six Months Ended June 30,						Three Months Ended June 30,
2016		2015				2016			2015
	(384)		145		Net income (loss) in accordance with U.S. GAAP		129			122
					Adjustments to conform with EU-IFRS:
	(54)		9		Development costs		(14	)		19
	4		4		Goodwill and other intangible assets		2			2
	38		22		Defined benefit plans		26			11
	—		2		Restructuring provisions		—			(1	)
	(16)		10		Other adjustments		(22	)		3
	3		(14	)	Tax impact on adjustments		(7	)		(6	)
	2		29		Deferred tax assets and tax contingencies recognition		9			27
	(23)		62		Total adjustments		(6	)		55

	(407)		207		Profit (loss) in accordance with EU-IFRS		123			177


CNH INDUSTRIAL Total Equity reconciliation *($ million)*
	June 30, 2016			December 31, 2015
Total Equity under U.S. GAAP		4,428			4,843
Adjustments to conform with EU-IFRS:
Development costs		2,545			2,536
Goodwill and other intangible assets		(110	)		(113	)
Defined benefit plans		(20	)		—
Restructuring provisions		(5	)		(5	)
Other adjustments		(13	)		2
Tax impact on adjustments		(737	)		(729	)
Deferred tax assets and tax contingencies recognition		708			683

Total adjustments		2,368			2,374

Total Equity under EU-IFRS		6,796			7,217


	Six Months Ended June 30, 2016				At December 31, 2015		Six Months Ended June 30, 2015
	Average		At June 30				Average		At June 30
Euro		0.896		0.901		0.919		0.896		0.894
Pound sterling		0.698		0.744		0.674		0.656		0.636
Swiss franc		0.982		0.979		0.995		0.947		0.931
Polish zloty		3.914		3.996		3.917		3.711		3.746
Brazilian real		3.701		3.233		3.960		2.968		3.101
Canadian dollar		1.330		1.296		1.388		1.235		1.237
Argentine peso		14.314		14.951		12.984		8.819		9.084
Turkish lira		2.920		2.888		2.918		2.566		2.677