CNH Industrial Capital LLC - FORM 10-Q - EX-12.1 - August 4, 2014

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EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

        For the three and six months ended June 30, 2014 and 2013, the computation of ratio of earnings to fixed charges is as follows (dollars in thousands):

 
   Three Months Ended
June 30, 		  Six Months Ended
June 30, 		 
 
   2014   2013   2014   2013  

Earnings:

                          

Income before taxes

   $ 101,260   $ 106,487   $ 203,134   $ 200,090  

Fixed charges

     70,687     62,952     133,832     122,448  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total earnings

   $ 171,947   $ 169,439   $ 336,966   $ 322,538  
                   
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​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Fixed charges:

                          

Interest expense inclusive of amortized premiums, discounts and capitalized expenses related to indebtedness

   $ 70,669   $ 62,932   $ 133,797   $ 122,407  

Estimate of the interest component of rental expense

     18     20     35     41  
                   
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Total Fixed charges

   $ 70,687   $ 62,952   $ 133,832   $ 122,448  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Ratio of earnings to fixed charges

     2.43     2.69     2.52     2.63  
                   
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

CNH Industrial Capital LLC Reports