CNH Industrial Capital LLC - FORM 10-Q - EX-12.1 - May 7, 2015

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10-Q - 10-Q - CNH Industrial Capital LLCa2224610z10-q.htm
EX-31.1 - EX-31.1 - CNH Industrial Capital LLCa2224610zex-31_1.htm
EX-31.2 - EX-31.2 - CNH Industrial Capital LLCa2224610zex-31_2.htm
EXCEL - IDEA: XBRL DOCUMENT - CNH Industrial Capital LLCFinancial_Report.xls
EX-32.1 - EX-32.1 - CNH Industrial Capital LLCa2224610zex-32_1.htm

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EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

        For the three months ended March 31, 2015 and 2014, the computation of ratio of earnings to fixed charges is as follows (dollars in thousands):

 
   2015   2014  

Earnings:

              

Income before taxes

   $ 81,986   $ 101,874  

Fixed charges

     74,712     63,145  
​ ​ ​ ​ ​ ​ ​ ​

Total earnings

   $ 156,698   $ 165,019  
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Fixed charges:

              

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

   $ 74,694   $ 63,128  

Estimate of the interest component of rental expense

     18     17  
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Total fixed charges

   $ 74,712   $ 63,145  
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Ratio of earnings to fixed charges

     2.10     2.61  
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

CNH Industrial Capital LLC Reports