EXHIBIT 7.1 - RATIO OF EARNINGS TO FIXED CHARGES
CNH INDUSTRIAL N.V.
	For the Years Ended December 31,
	2015			2014			2013			2012			2011
	(in millions)
Earnings:
Income before income taxes and equity in income of unconsolidated subsidiaries and affiliates	$	567		$	1,089		$	1,374		$	1,347		$	1,180
Add:
Dividends received from unconsolidated affiliates		81			89			81			104			80
Fixed charges		1,150			1,366			1,245			1,240			1,375
Amortization of capitalized interest	18			13			8			5			4
Less:
Interest capitalized		(24	)		(30	)		(31	)		(11	)		(4	)
Preference security dividend		—			—			—			—			(25	)
Total earnings	$	1,792		$	2,527		$	2,677		$	2,685		$	2,610
Fixed charges:
Interest expense inclusive of amortized premiums, discounts and capitalized expenses related to indebtedness	$	1,106		$	1,318		$	1,196		$	1,209		$	1,324
Interest capitalized		24			30			31			11			4
Estimate of the interest component of rental expense		20			18			18			20			22
Preference security dividend		—			—			—			—			25
Total fixed charges	$	1,150		$	1,366		$	1,245		$	1,240		$	1,375
Ratio of earnings to fixed charges	$	1.6		$	1.8		$	2.2		$	2.2		$	1.9