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Filing tables
Filing exhibits
- 10-K Annual report
- 10.16 Amendment to Employment Agreement
- 10.23 Forward Equity Commitment Agreement
- 10.33 Amendment to Employment Agreement
- 10.35 Transportation Finance
- 10.36 Extension of Term of Employment
- 10.37 Amendment to Employment Agreement
- 12.1 CIT Group Inc. and Subsidiaries Computation of Ration of Earnings
- 21.1 Subsidiary List
- 23.1 Consent of Indep. Registered Public Accounting Firm
- 24.1 Consent and Power of Attorney
- 31.1 Certifications
- 31.2 Certifications
- 32.1 Certification Pursuant to Section 18
- 32.2 Certification Pursuant to Section 18
Related press release
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140 CIT ANNUAL REPORT 2008
EXHIBIT 12.1
CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (dollars in millions)
Years Ended December 31, | |||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||
Earnings: | |||||||||||||||
Net (loss) income (attributable) available to common shareholders | $ | (2,864.2 | ) | $ | (111.0 | ) | $ | 1,015.8 | $ | 936.4 | $ | 753.6 | |||
Net (income) loss from discontinued operation | 2,166.4 | 873.0 | (120.3 | ) | (30.6 | ) | (12.5 | ) | |||||||
(Benefit) provision for income taxes – continuing operations | (444.4 | ) | 300.9 | 280.8 | 444.5 | 470.9 | |||||||||
Earnings (loss) from continuing operations, before provision for income taxes | (1,142.2 | ) | 1,062.9 | 1,176.3 | 1,350.3 | 1,212.0 | |||||||||
Fixed Charges: | |||||||||||||||
Interest and debt expenses on indebtedness | $ | 3,139.1 | $ | 3,411.9 | $ | 2,518.4 | $ | 1,694.4 | $ | 1,083.5 | |||||
Minority interest in subsidiary trust holding solely debentures of the company, before tax | — | 5.1 | 17.4 | 17.7 | 17.5 | ||||||||||
Interest factor: one-third of rentals on real and personal properties | 18.9 | 18.5 | 17.1 | 12.6 | 11.5 | ||||||||||
Total Fixed Charges: | 3,158.0 | 3,435.5 | 2,552.9 | 1,724.7 | 1,112.5 | ||||||||||
Total earnings before provision for income taxes and fixed charges | $ | 2,015.8 | $ | 4,498.4 | $ | 3,729.2 | $ | 3,075.0 | $ | 2,324.5 | |||||
Ratios of earnings to fixed charges | (1) | 1.31x | 1.46x | 1.78x | 2.09x |
(1) | Earnings were insufficient to cover fixed charges by $1,142.2 million for the twelve months ended December 31, 2008. |