CNH Industrial Capital LLC - FORM 10-Q - EX-12.1 - August 3, 2015

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EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

        For the three and six months ended June 30, 2015 and 2014, 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, 		 
 
   2015   2014   2015   2014  

Earnings:

                          

Income before taxes

   $ 88,591   $ 101,260   $ 170,577   $ 203,134  

Fixed charges

     71,533     70,687     146,245     133,832  
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Total earnings

   $ 160,124   $ 171,947   $ 316,822   $ 336,966  
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Fixed charges:

                          

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

   $ 71,512   $ 70,669   $ 146,206   $ 133,797  

Estimate of the interest component of rental expense

     21     18     39     35  
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Total fixed charges

   $ 71,533   $ 70,687   $ 146,245   $ 133,832  
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Ratio of earnings to fixed charges

     2.24     2.43     2.17     2.52  
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

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