Attached files
file | filename |
---|---|
10-Q - 10-Q - CNH Industrial Capital LLC | a2211803z10-q.htm |
EX-31.1 - EX-31.1 - CNH Industrial Capital LLC | a2211803zex-31_1.htm |
EX-31.2 - EX-31.2 - CNH Industrial Capital LLC | a2211803zex-31_2.htm |
EX-32.1 - EX-32.1 - CNH Industrial Capital LLC | a2211803zex-32_1.htm |
EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the three and nine months ended September 30, 2012 and 2011, the computation of ratio of earnings to fixed charges is as follows (dollars in thousands):
|
|
Three Months Ended |
|
Nine Months Ended |
| ||||||||
|
|
2012 |
|
2011 |
|
2012 |
|
2011 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Earnings: |
|
|
|
|
|
|
|
|
| ||||
Income before taxes |
|
$ |
87,374 |
|
$ |
83,116 |
|
$ |
260,870 |
|
$ |
246,500 |
|
Add: |
|
|
|
|
|
|
|
|
| ||||
Fixed charges |
|
61,534 |
|
63,829 |
|
190,471 |
|
203,211 |
| ||||
Amortization of capitalized interest |
|
|
|
|
|
|
|
|
| ||||
Less: |
|
|
|
|
|
|
|
|
| ||||
Interest capitalized |
|
|
|
|
|
|
|
|
| ||||
Earnings |
|
$ |
148,908 |
|
$ |
146,945 |
|
$ |
451,341 |
|
$ |
449,711 |
|
|
|
|
|
|
|
|
|
|
| ||||
Fixed charges: |
|
|
|
|
|
|
|
|
| ||||
Interest expense inclusive of amortized premiums, discounts and capitalized expenses related to indebtedness |
|
$ |
61,514 |
|
$ |
63,808 |
|
$ |
190,404 |
|
$ |
203,114 |
|
Interest capitalized |
|
|
|
|
|
|
|
|
| ||||
Estimate of the interest component of rental expense |
|
20 |
|
21 |
|
67 |
|
97 |
| ||||
Fixed charges |
|
$ |
61,534 |
|
$ |
63,829 |
|
$ |
190,471 |
|
$ |
203,211 |
|
|
|
|
|
|
|
|
|
|
| ||||
Ratio of earnings to fixed charges |
|
2.42 |
|
2.30 |
|
2.37 |
|
2.21 |
|