https:\/\/www.cnhindustrial.com\/en-us\/media\/press_releases\/Pages\/default.aspx<\/a> or consulting the accompanying PDF:<\/p>\nCNH Industrial reports solid third quarter performance. Consolidated revenues of $8.0 billion (up<\/strong>\u00a0<\/strong>23% compared to Q3 2020), net income of $329\u00a0million, adjusted diluted EPS of $0.36, and adjusted EBIT of Industrial Activities of $469\u00a0million (up\u00a0$231\u00a0million or some 100%). Free cash flow of Industrial Activities negative $0.7 billion.<\/strong><\/p>\nFinancial results presented under U.S. GAAP<\/em><\/p>\nNet sales of Industrial Activities <\/strong>of $7,537 million<\/strong>, up 23%, with increases in all segments due to continued strong industry demand and price realization.<\/p>\nAdjusted EBIT of Industrial Activities<\/strong> of $469 million<\/strong> ($238\u00a0million in Q3 2020), with Agriculture adjusted EBIT of $415\u00a0million continuing the strong performance of the segment. Adjusted EBIT increased by $58 million and $45\u00a0million for Commercial and Specialty Vehicles and Construction, respectively. Powertrain adjusted EBIT of $44\u00a0million ($60 million in Q3 2020).<\/p>\nAdjusted net income <\/strong>of $496 million<\/strong>, with adjusted diluted earnings per share <\/strong>of $<\/strong>0.36<\/strong> (adjusted net income of $156 million in Q3 2020, with adjusted diluted earnings per share of $0.11). In the first nine months of 2021, adjusted diluted earnings per share was $1.10, surpassing all past full year performances.<\/p>\nReported income tax expense of $79 million, with adjusted effective tax rate<\/strong> (adjusted ETR) of 13<\/strong>% <\/strong>and 22% for the three and nine months, respectively. Both ETRs reflect favorable changes to the Company\u2019s expected geographic mix of pre-tax earnings and net discrete tax benefits.<\/p>\nFree cash flow of Industrial Activities<\/strong> was negative<\/strong> $0.7 billion<\/strong> due to seasonal working capital absorption, exacerbated by supply chain disruptions in the latter part of the quarter. Total Debt of $23.7\u00a0billion at September 30, 2021 ($26.1\u00a0billion at December 31, 2020). Industrial Activitie<\/strong>s net cash<\/strong> position at $0.7\u00a0billion<\/strong>, a decrease of $0.7\u00a0<\/strong>billion from June\u00a0<\/strong>30, 2021.<\/p>\nAvailable liquidity<\/strong> at $13.5 billion<\/strong> as of September\u00a0<\/strong>30, 2021. In September 2021, CNH Industrial Capital Canada Ltd. issued CAD$300\u00a0million in aggregate principal amount of 1.50% notes due October 1, 2024.<\/p>\n