EXHIBIT 7.1 - RATIO OF EARNINGS TO FIXED CHARGES

CNH INDUSTRIAL N.V.

	For the Years Ended December 31,
	2021		2020		2019		2018		2017
Earnings:
Income before taxes and equity income	$	1,980	$	(505)	$	1,170	$	1,466	$	659
Add:
Dividends received from unconsolidated affiliates	80		32		15		47		49
Fixed Charges	649		734		857		873		968
Amortization of capitalized interest	7		14		15		13		15
Less:
Interest capitalized	(1)		(7)		(5)		(6)		(7)
Total earnings	$	2,715	$	268	$	2,052	$	2,393	$	1,684
Fixed charges:
Interest expense inclusive of amortized premiums, discounts and capitalized expenses related to indebtedness	$	596	$	678	$	798	$	812	$	940
Interest capitalized	1		7		5		6		7
Estimate of the interest component of rental expense	52		49		54		55		21
Total fixed charges	$	649	$	734	$	857	$	873	$	968
Ratio of earnings to fixed charges	4.18		0.37		2.39		2.74		1.74