Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - CIT GROUP INC | e59850_10q.htm |
| EX-32.2 - 1350 CERTIFICATION OF SCOTT PARKER - CIT GROUP INC | e59850ex32-2.htm |
| EX-10.33 - EXTENSION OF TERM OF EMPLOYMENT - CIT GROUP INC | e59850ex10-33.htm |
| EX-31.1 - CERTIFICATION OF JOHN THAIN - CIT GROUP INC | e59850ex31-1.htm |
| EX-32.1 - 1350 CERTIFICATION OF JOHN THANE - CIT GROUP INC | e59850ex32-1.htm |
| EXCEL - IDEA: XBRL DOCUMENT - CIT GROUP INC | Financial_Report.xls |
| EX-31.2 - CERTIFICATION OF SCOTT PARKER - CIT GROUP INC | e59850ex31-2.htm |
EXHIBIT 12.1
CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (dollars in millions)
| Quarters Ended |
Six Months Ended | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| June 30, | March 31, | June 30, | June 30, |
||||||||||||||||||||
| 2014 |
2014 |
2013 |
2014 |
2013 |
|||||||||||||||||||
Earnings: |
|||||||||||||||||||||||
Net
income |
$ | 246.9 | $ | 117.2 | $ | 183.6 | $ | 364.1 | $ | 346.2 | |||||||||||||
Provision for
income taxes – continuing operations |
18.1 | 13.5 | 29.3 | 31.6 | 42.1 | ||||||||||||||||||
Income from
discontinued operation, net of taxes |
(51.7 | ) | (2.3 | ) | (8.0 | ) | (54.0 | ) | (17.7 | ) | |||||||||||||
Income from
continuing operations, before provision for income taxes |
213.3 | 128.4 | 204.9 | 341.7 | 370.6 | ||||||||||||||||||
Fixed
Charges: |
|||||||||||||||||||||||
Interest and
debt expenses on indebtedness |
262.2 | 271.9 | 262.6 | 534.1 | 536.7 | ||||||||||||||||||
Interest factor:
one-third of rentals on real and personal properties |
1.6 | 1.9 | 1.7 | 3.5 | 4.4 | ||||||||||||||||||
Total fixed
charges for computation of ratio |
263.8 | 273.8 | 264.3 | 537.6 | 541.1 | ||||||||||||||||||
Total earnings
before provision for income taxes and fixed charges |
$ | 477.1 | $ | 402.2 | $ | 469.2 | $ | 879.3 | $ | 911.7 | |||||||||||||
Ratios of
earnings to fixed charges |
1.81x | 1.47x | 1.78x | 1.64x | 1.68x | ||||||||||||||||||