CNH Industrial Capital LLC - FORM 10-Q - EX-12.1 - August 3, 2016

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10-Q - 10-Q - CNH Industrial Capital LLCa2229298z10-q.htm
EX-32.1 - EX-32.1 - CNH Industrial Capital LLCa2229298zex-32_1.htm
EX-31.2 - EX-31.2 - CNH Industrial Capital LLCa2229298zex-31_2.htm
EX-31.1 - EX-31.1 - CNH Industrial Capital LLCa2229298zex-31_1.htm

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EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

        For the three and six months ended June 30, 2016 and 2015, 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, 		 
 
   2016   2015   2016   2015  

Earnings:

                          

Income before taxes

   $ 70,572   $ 88,591   $ 154,137   $ 170,577  

Fixed charges

     79,071     71,533     151,056     146,245  
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Total earnings

   $ 149,643   $ 160,124   $ 305,193   $ 316,822  
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Fixed charges:

                          

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

   $ 79,059   $ 71,512   $ 151,030   $ 146,206  

Estimate of the interest component of rental expense

     12     21     26     39  
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Total fixed charges

   $ 79,071   $ 71,533   $ 151,056   $ 146,245  
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Ratio of earnings to fixed charges

     1.89     2.24     2.02     2.17  
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

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