CNH Industrial Capital LLC - FORM 10-Q - EX-12.1 - November 6, 2014

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EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

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

 
   Three Months Ended
September 30, 		  Nine Months Ended
September 30, 		 
 
   2014   2013   2014   2013  

Earnings:

                          

Income before taxes

   $ 88,452   $ 100,855   $ 291,586   $ 300,945  

Fixed charges

     74,133     65,013     207,965     187,461  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total earnings

   $ 162,585   $ 165,868   $ 499,551   $ 488,406  
                   
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Fixed charges:

                          

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

   $ 74,115   $ 64,997   $ 207,912   $ 187,404  

Estimate of the interest component of rental expense

     18     16     53     57  
                   
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Total Fixed charges

   $ 74,133   $ 65,013   $ 207,965   $ 187,461  
                   
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Ratio of earnings to fixed charges

     2.19     2.55     2.40     2.61  
                   
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

CNH Industrial Capital LLC Reports