v3.26.1
SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Financial Information by Segment
Three Months Ended June 30, 2026
AgricultureConstructionFinancial ServicesTotal
Net sales $3,277 $866 $— 
Finance, interest and other income (Financial Services)— — 656 
Total Revenues 3,277 866 656 
Cost of goods sold (2,633)(763)— 
Selling, general and administrative expenses(1)
(279)(59)(129)
Research and development expenses(201)(29)— 
Interest expense (Financial Services) — — (327)
Other, net (Financial Services) — — (118)
Equity income from joint ventures 6 — 6 
Adjusted EBIT [A]
170 15 n/a
Income before income taxes [B]
n/an/a88 
Segment profit (loss) [C=A+B]
$273 
Interest expenses, net (excluding Financial Services)$(41)
Restructuring and other transformation expenses (Industrial Activities)(27)
Foreign exchange losses, net (Industrial Activities)(1)
Finance and non-service component of Pension and other postemployment benefit costs (Industrial Activities)(2)
Unallocated amounts(18)
Income tax expense(43)
Net income$141 
Three Months Ended June 30, 2025
AgricultureConstructionFinancial ServicesTotal
Net sales $3,248 $773 $— 
Finance, interest and other income (Financial Services)— — 685 
Total Revenues 3,248 773 685 
Cost of goods sold (2,540)(652)— 
Selling, general and administrative expenses(1)
(265)(62)(114)
Research and development expenses(194)(24)— 
Interest expense (Financial Services) — — (329)
Other, net (Financial Services) — — (134)
Equity income from joint ventures14 — 4 
Adjusted EBIT [A]
263 35 n/a
Income before income taxes [B]
n/an/a112 
Segment profit [C=A+B]
$410 
Interest expenses, net (excluding Financial Services)$(26)
Restructuring and other transformation expenses (Industrial Activities)(5)
Foreign exchange losses, net (Industrial Activities)(9)
Finance and non-service component of Pension and other postemployment benefit costs (Industrial Activities)(3)
Unallocated amounts(74)
Income tax expense(76)
Net income$217 
Six Months Ended June 30, 2026
AgricultureConstructionFinancial ServicesTotal
Net sales $5,873 $1,440 $— 
Finance, interest and other income — — 1,302 
Total Revenues 5,873 1,440 1,302 
Cost of goods sold (4,732)(1,269)— 
Selling, general and administrative expenses(1)
(542)(128)(237)
Research and development expenses(406)(56)— 
Interest expense (Financial Services) — — (659)
Other, net (Financial Services) — — (227)
Equity income from joint ventures4 — 9 
Adjusted EBIT [A]
197 (13)n/a
Income before income taxes [B]
n/an/a188 
Segment profit/(loss) [C=A+B]
$372 
Interest expenses, net (excluding Financial Services)$(64)
Restructuring and other transformation expenses (Industrial Activities)(31)
Foreign exchange losses, net (Industrial Activities)(3)
Finance and non-service component of Pension and other postemployment benefit costs (Industrial Activities)(6)
Unallocated amounts(62)
Discrete items excluded from segments(8)
Income tax expense(47)
Net income$151 
Six Months Ended June 30, 2025
AgricultureConstructionFinancial ServicesTotal
Net sales $5,829 $1,364 $— 
Finance, interest and other income — — 1,336 
Total Revenues 5,829 1,364 1,336 
Cost of goods sold (4,606)(1,155)— 
Selling, general and administrative expenses(1)
(490)(115)(195)
Research and development expenses(357)(45)— 
Interest expense (Financial Services) — — (661)
Other, net (Financial Services) — — (259)
Equity income from joint ventures26 — 9 
Adjusted EBIT [A]
402 49 n/a
Income before income taxes [B]
n/an/a230 
Segment profit [C=A+B]
$681 
Interest expenses, net (excluding Financial Services)$(51)
Restructuring and other transformation expenses (Industrial Activities)(11)
Foreign exchange losses, net (Industrial Activities)(14)
Finance and non-service component of Pension and other postemployment benefit costs (Industrial Activities)(7)
Unallocated amounts(126)
Income tax expense(123)
Net income$349 
(1)For the three and six months ended June 30, 2026, this item included risk costs for the Financial Services segment of $91 million and $165 million, respectively, and $81 million and $131 million for the three and six months ended June 30, 2025.
Schedule of Operating Segment Information However, the CODM reviews expenditures for long-lived assets by operating segment, therefore, this information is presented below.
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenues
Agriculture$3,277 $3,248 $5,873 $5,829 
Construction866 773 1,440 1,364 
Net sales4,143 4,021 7,313 7,193 
Financial Services656 685 1,302 1,336 
Eliminations and other4 5 14 10 
Total Revenues$4,803 $4,711 $8,629 $8,539 
Depreciation and amortization(1)
Agriculture$101 $92 $201 $180 
Construction14 12 28 25 
Other activities and adjustments— 1 1 1 
Depreciation and amortization of Industrial Activities 115 105 230 206 
Financial Services2 1 3 2 
Total Depreciation and amortization$117 $106 $233 $208 
Capital expenditures for property, plant and equipment and intangible assets
Agriculture$104 $73 $189 $165 
Construction10 15 17 26 
Total Industrial Activities capital expenditures114 88 206 191 
Financial Services3 2 4 5 
Total capital expenditures$117 $90 $210 $196 
(1)Excluding operating lease right-of-use assets and related lease amortization.
June 30, 2026December 31, 2025
Inventories
Agriculture$3,977 $3,635 
Construction1,105 928 
Financial Services89 88 
Total Inventories, net
$5,171 $4,651 
Equity method investments
Agriculture$270 $255 
Financial Services151 146 
Total Equity method investments$421 $401