CNH Industrial is a global leader in the capital goods sector with established industrial experience, a wide product range, and worldwide presence. The Company designs, manufactures, and sells agricultural equipment, construction machinery, trucks, buses, specialty vehicles, and powertrains. CNH Industrial, which is listed on the New York Stock Exchange and on the Milan Stock Exchange, was formed by the merger between Fiat Industrial S.p.A. and its subsidiary CNH Global N.V., completed on September 29, 2013. With 12 brands (see also page 13) organized in 5 segments (Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain and Financial Services), 64 manufacturing plants, 49 Research and Development centers, together with a workforce of some 69 thousand and a commercial presence in approximately 190 countries, the Company is in a unique competitive position. CNH Industrial aims to be the global leader in next-generation industrial equipment and commercial vehicles. It is a pioneer of ultra-efficient machinery that enables other sectors of the global economy to operate at maximum potential, and it achieves this by harnessing new technology, its vast market reach, and its robust enterprise culture.
|Employees at year end||69,207||71,192||68,257|
|Countries in which CNH Industrial operates||190||190||190|
|Research and Development centers||49||48||49|
The following figures are taken from the EU Annual Report, prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and adopted by the European Union.
CNH Industrial reports results also under accounting standards generally accepted in the United States (U.S. GAAP) for U.S. Securities and Exchange Commission (SEC) reporting and investor presentation purposes. The U.S. GAAP results are included in the Annual Report on Form 20-F. The 2014 EU Annual Report and the 2014 Annual Report on Form 20-F are available on the Company website.
|($million in IFRS)||2014||2013 b||2012 a; b|
|Investments in tangible and intangible assets c||1,698||1,985||1,733|
|R&D expenditure d||1,122||1,240||1,149|
|Net industrial cash/(debt)||(2,874)||(2,195)||(2,166)|
(a) For the year 2012, figures were recast following the adoption of IAS 19 Revised. There was no significant impact for any individual line item.
(b) Amounts recast in order to reflect the change in presentation currency from euro to US dollar.
(c) Net of vehicles sold under buy-back commitments and operating lease
(d) Includes capitalized development costs and R&D charged directly to the income statement.
PUBLIC FUNDING AWARDED TO CNH INDUSTRIAL
|of which subsidized loans||133||562||280|
|Total public funding||168||581||749|
PUBLIC FUNDING AWARDED TO CNH INDUSTRIAL BY REGION