CNH Industrial NV 2025年度报告

USGAAPATDECEMBER 31,2025 UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 10-K ☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period fromtoCommission File Number: 001-36085 CNH INDUSTRIAL N.V. (Exact name of registrant as specified in its charter) Netherlands98-1125413(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)Cranes Farm Road, Basildon, Essex, SS14 3AD, United Kingdom(Address of principal executive offices)Registrant's telephone number including area code:+44 2079 251964Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.þYesoNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.oYesþNo Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filing requirements for the past 90 days.þYesoNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files).þYesoNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "acceleratedfiler," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.þ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements ofthe registrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis ofincentive-based compensation received by any of the registrant's executive officers during the relevant recovery periodpursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐YesþNo The aggregate quoted market price of common shares of the registrant held by non-affiliates at June 30, 2025 wasapproximately $11.5 billion. At January 31, 2026, there were 1,240,946,574 common shares, par value €0.01 per share, ofthe registrant outstanding. Documents Incorporated By Reference Portions of the Registrant's Proxy Statement for its 2026 Annual General Meeting of Shareholders ("Proxy Statement") areincorporated by reference into Part III of this Form 10-K. PART I Item 1.Business CNH Industrial N.V. ("CNH" or the "Company") was formed in 2013 by the business combination transaction between FiatIndustrial S.p.A. and its subsidiary CNH Global N.V.. CNH was incorporated on November 23, 2012, as a public limitedliability company (naamloze vennootschap) under the laws of the Netherlands. The Company's principal office is atCranes Farm Road, Basildon, Essex, SS14 3AD, United Kingdom (telephone number: +44-207-9251-964). CNH's agentfor U.S. federal securities law purposes is Britton Worthen, c/o CNH Industrial America LLC, 711 Jorie Boulevard, OakBrook, Illinois 60523 (telephone number +1-331-256-0594). Unless otherwise indicated or the context otherwise requires, as used in this Annual Report, the term "CNH", "we", "us","our" or "the Company" refer to CNH Industrial N.V. together with its consolidated subsidiaries. Business Overview General CNH is a leading global equipment company that develops, manufactures and sells agricultural and constructionequipment. In addition, CNH's Financial Services segment offers an array of financial products and services, including: •Retailfinancing for end customers purchasing or leasing new and/or used CNH equipment a