Attached files
EXHIBIT 12.1
CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (dollars in millions)
Quarters Ended |
||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
March 31, 2015 |
December 31, 2014 |
March 31, 2014 |
||||||||||||
Earnings: |
||||||||||||||
Net
income |
$ | 103.7 | $ | 251.0 | $ | 117.2 | ||||||||
Provision
(benefit) for income taxes continuing operations |
44.0 | (28.3 | ) | 13.5 | ||||||||||
(Income) loss
from discontinued operation, net of taxes |
| 1.0 | (2.3 | ) | ||||||||||
Income (loss)
from continuing operations, before provision for income taxes |
147.7 | 223.7 | 128.4 | |||||||||||
Fixed
Charges: |
||||||||||||||
Interest and
debt expenses on indebtedness |
271.3 | 276.9 | 271.9 | |||||||||||
Interest
factor: one-third of rentals on real and personal properties |
1.8 | 2.0 | 1.9 | |||||||||||
Total fixed
charges for computation of ratio |
273.1 | 278.9 | 273.8 | |||||||||||
Total earnings
before provision for income taxes and fixed charges |
$ | 420.8 | $ | 502.6 | $ | 402.2 | ||||||||
Ratios of
earnings to fixed charges |
1.54 | x | 1.80 | x | 1.47 | x |