EXHIBIT 7.1 - RATIO OF EARNINGS TO FIXED CHARGES
CNH INDUSTRIAL N.V.
	For the Years Ended December 31,
	2016			2015			2014			2013			2012
Earnings:
Income before taxes and equity income	$	(9	)	$	567		$	1,089		$	1,374		$	1,347
Add:
Dividends received from unconsolidated affiliates		63			81			89			81			104
Fixed Charges		1,054			1,150			1,366			1,245			1,240
Amortization of capitalized interest		20			18			13			8			5
Less:
Interest capitalized		(7	)		(24	)		(30	)		(31	)		(11	)
Preference security dividend		-			-			-			-			-
Total earnings	$	1,121		$	1,792		$	2,527		$	2,677		$	2,685
Fixed charges:
Interest expense inclusive of amortized premiums, discounts and capitalized expenses related to indebtedness	$	1,028		$	1,106		$	1,318		$	1,196		$	1,209
Interest capitalized		7			24			30			31			11
Estimate of the interest component of rental expense		19			20			18			18			20
Preference security dividend		-			-			-			-			-
Total fixed charges	$	1,054		$	1,150		$	1,366		$	1,245		$	1,240
Ratio of earnings to fixed charges		1.06			1.56			1.85			2.15			2.17