CNH Industrial announces retiree benefits alignment following favorable U.S. Supreme Court ruling

The Benefits modifications are estimated to result in a reduction of the plan liability by approximately $500 million to $550 million, realizing a corresponding pre-tax income. The actual adjustment to the liability will be finalized using current market assumptions on the applicable measurement date (expected to be in the second quarter, once the retirees have been formally advised). Under U.S. GAAP, this pre-tax income will be amortized from equity to the income statement over approximately 4.5 years. Under IFRS, this pre-tax income will be recorded in the second quarter of 2018 in its entirety.

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^[1]

Contacts:Corporate Communications Email: [email protected]^[2]

Investor RelationsEmail: [email protected]^[3]

20180416_PR_CNH_Industrial_Ruling_Retiree_Benefitshttp://hugin.info/163950/R/2184678/844105.pdf^[4]

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: CNH Industrial N.V. via Globenewswire

Topic: Press release summary http://www.acnnewswire.com From the Asia Corporate News Network

Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

References

1. ^{^} www.cnhindustrial.com (www.cnhindustrial.com)
2. ^{^} [email protected] (www.acnnewswire.com)
3. ^{^} [email protected] (www.acnnewswire.com)
4. ^{^} http://hugin.info/163950/R/2184678/844105.pdf (hugin.info)