Cit (CIT) 10-Q7 May 152015 Q1 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2015	Apr. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	CIT GROUP INC
Entity Central Index Key	1171825
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		174,050,771

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015		Dec. 31, 2014
Assets
Cash and due from banks, including restricted balances of $223.2 and $374.0 at March 31, 2015 and December 31, 2014(1), respectively	$913,600,000	[1]	$878,500,000	[1]
Interest bearing deposits, including restricted balances of $597.1 and $590.2 at March 31, 2015 and December 31, 2014(1), respectively	5,393,300,000	[1]	6,241,200,000	[1]
Securities purchased under agreements to resell	450,000,000		650,000,000
Investment securities	1,347,400,000		1,550,300,000
Assets held for sale	1,051,900,000	[1]	1,218,100,000	[1]
Loans (see Note 7 for amounts pledged)	19,429,300,000		19,495,000,000
Allowance for loan losses	-356,500,000	[2]	-346,400,000
Total loans, net of allowance for loan losses	19,072,800,000	[1]	19,148,600,000	[1]
Operating lease equipment, net (see Note 7 for amounts pledged)	14,887,800,000	[1]	14,930,400,000	[1]
Unsecured counterparty receivable	537,100,000		559,200,000
Goodwill	563,600,000		571,300,000
Other assets, including $199.4 and $168 at March 31, 2015 and December 31, 2014, respectively, at fair value	2,198,500,000	[1]	2,132,400,000	[1]
Assets of discontinued operation	0		0
Total Assets	46,416,000,000	[1]	47,880,000,000	[1]
Liabilities
Deposits	16,758,100,000		15,849,800,000
Credit balances of factoring clients	1,505,300,000		1,622,100,000
Other liabilities, including $67.5 and $62.3 at March 31, 2015 and December 31, 2014, respectively, at fair value	2,735,200,000		2,888,800,000
Long-term borrowings, including $0,000.0 and $3,053.3 contractually due within twelve months at March 31, 2015 and December 31, 2014, respectively	16,658,300,000	[3]	18,455,800,000	[3]
Total Liabilities	37,656,900,000		38,816,500,000
Stockholders' Equity
Common stock: $0.01 par value, 600,000,000 authorized; Issued: 204,251,175 and 203,127,291 at March 31, 2015 and December 31, 2014, respectively; Outstanding: 174,279,787 and 180,920,575 at March 31, 2015 and December 31, 2014, respectively	2,000,000		2,000,000
Paid-in capital	8,598,000,000		8,603,600,000
Retained earnings	1,692,300,000		1,615,700,000
Accumulated other comprehensive loss	-163,100,000		-133,900,000
Treasury stock: 29,971,388 and 22,206,716 shares at March 31, 2015 and December 31, 2014 at cost, respectively	-1,370,600,000		-1,018,500,000
Total Common Stockholders' Equity	8,758,600,000		9,068,900,000
Noncontrolling minority interests	500,000		-5,400,000
Total Equity	8,759,100,000		9,063,500,000
Total Liabilities and Equity	46,416,000,000		47,880,000,000
Variable Interest Entities [Member]
Assets
Cash and due from banks, including restricted balances of $223.2 and $374.0 at March 31, 2015 and December 31, 2014(1), respectively	380,300,000		537,300,000
Assets held for sale	132,500,000
Total loans, net of allowance for loan losses	3,398,500,000		3,619,200,000
Operating lease equipment, net (see Note 7 for amounts pledged)	4,266,000,000		4,219,700,000
Other assets, including $199.4 and $168 at March 31, 2015 and December 31, 2014, respectively, at fair value	6,500,000		10,000,000
Total Assets	8,183,800,000		8,386,200,000
Liabilities
Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)	4,966,900,000		5,331,500,000
Total Liabilities	$4,966,900,000		$5,331,500,000

[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Companyâ€™s interests in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Companyâ€™s interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.
[2]	Represents loans considered impaired in FSA and are accounted for under the guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality).
[3]	Senior Unsecured Notes at March 31, 2015 were comprised of $8,243.7 million of Unsecured Notes, $2,450.0 million of Series C Notes and $38.9 million of other unsecured debt.

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Consolidated Balance Sheets [Abstract]
Restricted cash and due from banks	$223.20	$374
Interest bearing deposits, restricted balances	597.1	590.2
Other assets at fair value	199.4	168
Other liabilities at fair value	67.5	62.3
Long-term borrowings, contractually due within twelve months	$1,848	$3,053.30
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	204,251,175	203,127,291
Common stock, shares outstanding	174,279,787	180,920,575
Treasury stock, shares at cost	29,971,388	22,206,716

Consolidated_Statements_Of_Ope

Consolidated Statements Of Operations (USD $)	3 Months Ended
In Millions, except Share data in Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Interest income
Interest and fees on loans	$272.40	$293.40
Other interest and dividends	8.6	8.8
Interest income	281	302.2
Interest expense
Interest on long-term borrowings	-202.3	-220
Interest on deposits	-69	-51.9
Interest expense	-271.3	-271.9
Net interest revenue	9.7	30.3
Provision for credit losses	-34.6	-36.7
Net interest revenue, after credit provision	-24.9	-6.4
Non-interest income
Rental income on operating leases	530.6	491.9
Other income	86.4	71.1
Total non-interest income	617	563
Total revenue, net of interest expense and credit provision	592.1	556.6
Other expenses
Depreciation on operating lease equipment	-156.8	-148.8
Maintenance and other operating lease expenses	-46.1	-51.6
Operating expenses	-241.6	-233.5
Total other expenses	-444.5	-433.9
Income from continuing operations before provision for income taxes	147.6	122.7
Provision for income taxes	-44	-13.5
Income from continuing operations, before attribution of noncontrolling interests	103.6	109.2
Net loss attributable to noncontrolling interests, after tax	0.1	5.7
Income from continuing operations	103.7	114.9
Income from discontinued operation, net of taxes		2.3
Net Income	$103.70	$117.20
Basic income per common share: Income from continuing operations	$0.59	$0.59
Basic income per common share: Income from discontinued operation		$0.01
Basic income per share	$0.59	$0.60
Diluted income per common share: Income from continuing operations	$0.59	$0.58
Diluted income per common share: Income from discontinued operation		$0.01
Diluted income per share	$0.59	$0.59
Average number of common shares - basic	176,260	196,089
Average number of common shares - diluted	177,072	197,047
Dividends declared per common share	$0.15	$0.10

Consolidated_Statements_Of_Com

Consolidated Statements Of Comprehensive Income (Loss) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Consolidated Statements Of Comprehensive Income (Loss) [Abstract]
Income from continuing operations, before attribution of noncontrolling interests	$103.60	$109.20
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	-28.4	-4.3
Net unrealized gains (losses) on available for sale securities	-0.4	0.3
Changes in benefit plans net gain (loss) and prior service (cost)/credit	-0.4	1.6
Other comprehensive income (loss), net of tax	-29.2	-2.4
Comprehensive income before noncontrolling interests and discontinued operation	74.4	106.8
Comprehensive income attributable to noncontrolling interests	0.1	5.7
Income from discontinued operation, net of taxes		2.3
Comprehensive income	$74.50	$114.80

Consolidated_Statements_Of_Sto

Consolidated Statements Of Stockholders' Equity (USD $)	Common Stock [Member]	Paid-In Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Noncontrolling Minority Interest [Member]	Total
In Millions	Common Stock [Member]	Paid-In Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Noncontrolling Minority Interest [Member]	Total
Beginning balance at Dec. 31, 2013	$2	$8,555.40	$581	($73.60)	($226)	$11.20	$8,850
Net income (loss)			117.2			-5.7	111.5
Other comprehensive income (loss), net of tax				-2.4			-2.4
Dividends paid			-19.8				-19.8
Amortization of restricted stock, stock option and performance shares expenses and shares withheld to cover taxes upon vesting		14			-16.5		-2.5
Repurchase of common stock					-135.6		-135.6
Employee stock purchase plan		0.3					0.3
Distribution of earnings and capital						0.3	0.3
Ending balance at Mar. 31, 2014	2	8,569.70	678.4	-76	-378.1	5.8	8,801.80
Beginning balance at Dec. 31, 2014	2	8,603.60	1,615.70	-133.9	-1,018.50	-5.4	9,063.50
Net income (loss)			103.7			-0.1	103.6
Other comprehensive income (loss), net of tax				-29.2			-29.2
Dividends paid			-27.1				-27.1
Amortization of restricted stock, stock option and performance shares expenses and shares withheld to cover taxes upon vesting		20.5			-20.4		0.1
Repurchase of common stock					-331.7		-331.7
Employee stock purchase plan		0.4					0.4
Purchase of noncontrolling interest		-26.5				6	-20.5
Ending balance at Mar. 31, 2015	$2	$8,598	$1,692.30	($163.10)	($1,370.60)	$0.50	$8,759.10

Consolidated_Statements_Of_Cas

Consolidated Statements Of Cash Flows (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash Flows From Operations
Net income	$103.70	$117.20
Adjustments to reconcile net income to net cash flows from operations:
Provision for credit losses	34.6	36.7
Net depreciation, amortization and (accretion)	166.6	163.2
Net gains on equipment, receivable and investment sales	-29.2	-14.4
Provision for deferred income taxes	21.2	3.4
Increase in finance receivables held for sale	-74.7	-12.8
Increase in other assets	-59.9	-4.2
Decrease in accrued liabilities and payables	-95.1	-62.2
Net cash flows provided by operations	67.2	226.9
Cash Flows From Investing Activities
Loans originated and purchased	-3,034	-4,044.40
Principal collections of loans	2,980.60	3,618.90
Purchases of investment securities	-3,108	-3,262.40
Proceeds from maturities of investment securities	3,510.80	3,642.70
Proceeds from asset and receivable sales	544.9	484.1
Purchases of assets to be leased and other equipment	-408.2	-734.6
Decrease in short-term factoring receivables	-112.3	-118.3
Acquisitions, net of cash received		-245.5
Change in restricted cash	143.8	-1,365.20
Net cash flows provided by (used in) investing activities	517.6	-2,024.70
Cash Flows From Financing Activities
Proceeds from the issuance of term debt	519.8	1,136.70
Repayments of term debt	-2,294.80	-578.5
Net increase in deposits	908.4	663.4
Collection of security deposits and maintenance funds	165.2	137.5
Use of security deposits and maintenance funds	-173	-128.5
Repurchase of common stock	-331.7	-135.6
Dividends paid	-27.1	-19.8
Purchase of noncontrolling interest	-20.5
Net cash flows (used in) provided by financing activities	-1,253.70	1,075.20
Decrease in unrestricted cash and cash equivalents	-668.9	-722.6
Unrestricted cash and cash equivalents, beginning of period	6,155.50	5,081.10
Unrestricted cash and cash equivalents, end of period	5,486.60	4,358.50
Supplementary Cash Flow Disclosure
Interest paid	-324.3	-299.5
Federal, foreign, state and local income taxes paid, net	-14	-6.6
Supplementary Non Cash Flow Disclosure
Transfer of assets from held for investment to held for sale	-239.4	464.4
Transfer of assets from held for sale to held for investment	$0.70	$31

Business_And_Summary_Of_Signif

Business And Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Business And Summary Of Significant Accounting Policies [Abstract]
Business And Summary Of Significant Accounting Policies	NOTE 1 — BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	CIT Group Inc., together with its subsidiaries (collectively “CIT” or the “Company”), has provided financial solutions to its clients since its formation in 1908. The Company provides financing, leasing and advisory services principally to middle market companies in a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation industry worldwide. CIT became a bank holding company (“BHC”) in December 2008 and a financial holding company (“FHC”) in July 2013. CIT is regulated by the Board of Governors of the Federal Reserve System (“FRB”) and the Federal Reserve Bank of New York (“FRBNY”) under the U.S. Bank Holding Company Act of 1956. CIT Bank (the “Bank”), a wholly-owned subsidiary, is a Utah state chartered bank located in Salt Lake City, and is regulated by the Federal Deposit Insurance Corporation (“FDIC”) and the Utah Department of Financial Institutions (“UDFI”). The Company operates primarily in North America, with locations in Europe and Asia.
	BASIS OF PRESENTATION
	Principles of Consolidation
	The accompanying consolidated financial statements include financial information related to CIT Group Inc. and its majority-owned subsidiaries and those variable interest entities (“VIEs”) where the Company is the primary beneficiary.
	In preparing the consolidated financial statements, all significant inter-company accounts and transactions have been eliminated. Assets held in an agency or fiduciary capacity are not included in the consolidated financial statements.
	These consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial information and accordingly, do not include all information and note disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. The financial statements in this Form 10-Q have not been audited by an independent registered public accounting firm in accordance with standards of the Public Company Accounting Oversight Board (U.S.), but in the opinion of management include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of CIT’s financial position, results of operations and cash flows in accordance with GAAP. These consolidated financial statements should be read in conjunction with our current Form 10-K on file.
	The accounting and financial reporting policies of CIT Group Inc. conform to GAAP and the preparation of the consolidated financial statements requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates and assumptions. Some of the more significant estimates include: allowance for loan losses, loan impairment, fair value determination, lease residual values, liabilities for uncertain tax positions, realizability of deferred tax assets and goodwill assets. Additionally where applicable, the policies conform to accounting and reporting guidelines prescribed by bank regulatory authorities.

	Discontinued Operation
	On April 25, 2014, the Company completed the sale of its student lending business. As a result, the student lending business is reported as a discontinued operation for all periods. The business had been included in the Non-Strategic Portfolios segment and consisted of a portfolio of U.S. Government-guaranteed student loans. The portfolio was in run-off and had been transferred to assets held for sale (“AHFS”) at the end of 2013. See Note 2 – Discontinued Operation.
	Revision
	In preparing the financial statements for the quarter ended March 31, 2015, the Company discovered and corrected an immaterial error impacting the disclosure of unearned income in the amount of approximately $170 million as of December 31, 2014.


	NEW ACCOUNTING PRONOUNCEMENTS
	Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement
	The FASB issued an amendment to U.S. GAAP on April 15, 2015, to explain how businesses and other organizations should account for the fees for purchasing cloud computing services. The changes in Accounting Standards Update (“ASU”) No. 2015-05, Intangibles: Goodwill and Other: Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement, add to the guidance for intangible assets to help businesses and other organizations determine whether a cloud computing agreement includes a software license or should be considered as a service agreement.
	The amendments to FASB ASC 350-40, Intangibles: Goodwill and Other: Internal-Use Software: Scope and Scope Exceptions, formerly AICPA Statement of Position (“SOP”) No. 98-1, state that the portion of a cloud computing agreement that includes a software license should be accounted for in a manner that is consistent with other software licenses. An arrangement that does not include a software license should be accounted for as a service contract.
	Public companies have to apply the amendment for fiscal years that start after December 15, 2015. Companies will have to apply the changes in their first-quarter reports for 2016, but can elect to early adopt ahead of the effective date. CIT is currently evaluating the impact of adopting this ASU.
	Debt Issuance Costs
	On April 7, 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount.
	Debt issuance costs are specific incremental costs, other than those paid to the lender, that are directly attributable to issuing a debt instrument (i.e., third party costs). Prior to the issuance of the standard, debt issuance costs were required to be presented in the balance sheet as a deferred charge (i.e., an asset).
	For public business entities, the standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. For all other entities, the standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. Early adoption is permitted for financial statements that have not been previously issued. The new guidance will be applied on a retrospective basis. The adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures.
	Amendments to the Consolidation Analysis
	The FASB issued ASU 2015-02, Amendments to the Consolidation Analysis, in February 2015 to improve targeted areas of the consolidation standard and reduce the number of consolidation models. The new guidance changes the way reporting enterprises evaluate whether (a) they should consolidate limited partnerships and similar entities, (b) fees paid to a decision maker or service provider are variable interests in a variable interest entity (“VIE”), and (c) variable interests in a VIE held by related parties of the reporting enterprise require the reporting enterprise to consolidate the VIE. It also eliminates the VIE consolidation model based on majority exposure to variability that applied to certain investment companies and similar entities.

	The Board changed the way the voting rights characteristic in the VIE scope determination is evaluated for corporations, which may significantly impact entities for which decision making rights are conveyed though a contractual arrangement.

	Under ASU 2015-02:
		·		More limited partnerships and similar entities will be evaluated for consolidation under the revised consolidation requirements that apply to VIEs.
		·		Fees paid to a decision maker or service provider are less likely to be considered a variable interest in a VIE.
		·		Variable interests in a VIE held by related parties of a reporting enterprise are less likely to require the reporting enterprise to consolidate the VIE.
		·		There is a new approach for determining whether equity at-risk holders of entities that are not similar to limited partnerships have power to direct the entity’s key activities when the entity has an outsourced manager whose fee is a variable interest.
		·		The deferral of consolidation requirements for certain investment companies and similar entities of the VIE in ASU 2009-17 is eliminated.

	The anticipated impacts of the new update include:
		·		A new consolidation analysis is required for VIEs, including many limited partnerships and similar entities that previously were not considered VIEs.
		·		It is less likely that the general partner or managing member of limited partnerships and similar entities will be required to consolidate the entity when the other investors in the entity lack both participating rights and kick-out rights.
		·		Limited partnerships and similar entities that are not VIEs will not be consolidated by the general partner.
		·		It is less likely that decision makers or service providers involved with a VIE will be required to consolidate the VIE.
		·		Entities for which decision making rights are conveyed through a contractual arrangement are less likely to be considered VIEs.
		·		Reporting enterprises with interests in certain investment companies and similar entities that are considered VIEs will no longer evaluate those entities for consolidation based on majority exposure to variability.

	The guidance is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2015 (i.e. January 1, 2016). Early adoption is allowed, including early adoption in an interim period. A reporting enterprise is permitted to apply either a modified retrospective approach or full retrospective application. CIT is currently evaluating the impact of adopting this ASU.
	Extraordinary and Unusual Items
	The FASB issued ASU 2015-01, Extraordinary and Unusual Items, in January 2015 as part of FASB’s simplification initiative, which eliminates the concept of extraordinary item and the need for entities to evaluate whether transactions or events are both unusual in nature and infrequently occurring.
	The ASU precludes (1) segregating an extraordinary item from the results of ordinary operations; (2) presenting separately an extraordinary item on the income statement, net of tax, after income from continuing operations; and (3) disclosing income taxes and earnings-per-share data applicable to an extraordinary item. However, the ASU does not affect the reporting and disclosure requirements for an event or transaction that is unusual in nature or that occurs infrequently. So, although the Company will no longer need to determine whether a transaction or event is both unusual in nature and infrequently occurring, CIT will still need to assess whether items are unusual in nature or infrequent to determine if the additional presentation and disclosure requirements for these items apply.
	For all entities, ASU 2015-01 is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. Early adoption is permitted if the guidance is applied as of the beginning of the annual period of adoption. Adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures.

	Revenue Recognition

	The FASB issued ASU No. 2014-09 - Revenue from Contracts with Customers, which will supersede virtually all of the revenue recognition guidance in GAAP, except as it relates to lease accounting.

	The core principle of the five-step model is that a company will recognize revenue when it transfers control of goods or services to customers at an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. In doing so, many companies will have to make more estimates and use more judgment than they do under current GAAP. The five-step analysis of transactions, to determine when and how revenue is recognized, includes:

	1. Identify the contract with the customer.
	2. Identify the performance obligations in the contract.
	3. Determine the transaction price.
	4. Allocate the transaction price to the performance obligations.
	5. Recognize revenue when or as each performance obligation is satisfied.

	Companies can choose to apply the standard using either the full retrospective approach or a modified retrospective approach. Under the modified approach, financial statements will be prepared for the year of adoption using the new standard, but prior periods will not be adjusted. Instead, companies will recognize a cumulative catch-up adjustment to the opening balance of retained earnings at the effective date for contracts that still require performance by the company and disclose all line items in the year of adoption as if they were prepared under today’s revenue guidance.
	The FASB has set an effective date of fiscal years beginning after December 15, 2016 for public entities. Public companies that choose full retrospective application will need to apply the standard to amounts they report for 2015 and 2016 on the face of their 2017 financial statements. In April 2015, the FASB voted to release a proposal to offer an extra year for public companies and two years for private companies to comply with the standard. CIT is required to adopt the ASU and is currently reviewing the impact of adoption and has not determined the effect of the standard on its ongoing financial reporting.

Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the
Requisite Service Period

The FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period, in June 2014.

The ASU directs that a performance target that affects vesting and can be achieved after the requisite service period is a performance condition. That is, compensation cost would be recognized over the required service period if it is probable that the performance condition would be achieved. The total amount of compensation cost recognized during and after the requisite service period would reflect the number of awards that are expected to vest and would be adjusted to reflect those awards that ultimately vest.

The ASU does not require additional disclosures. Entities may apply the amendments in this update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this ASU as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost.

The ASU is effective for annual periods beginning after December 15, 2015 and interim periods within those years. Early adoption is permitted. CIT is currently evaluating the impact of adopting this ASU and is reviewing existing awards for applicability.

Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern

The FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, in August 2014. This ASU describes how entities should assess their ability to meet their obligations and sets disclosure requirements about how this information should be communicated. The standard will be used along with existing auditing standards, and provides the following key guidance:

	1		Entities must perform a going concern assessment by evaluating their ability to meet their obligations for a look-forward period of one year from the financial statement issuance date (or date the financial statements are available to be issued).
	2		Disclosures are required if it is probable an entity will be unable to meet its obligations within the look-forward period. Incremental substantial doubt disclosure is required if the probability is not mitigated by management’s plans.
	3		Pursuant to the ASU, substantial doubt about an entity’s ability to continue as a going concern exists if it is probable that the entity will be unable to meet its obligations as they become due within one year after the date the annual or interim financial statements are issued or available to be issued (assessment date).

The new standard applies to all entities for the first annual period ending after December 15, 2016. Company management is responsible for assessing going concern uncertainties at each annual and interim reporting period thereafter. The adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures.

Discontinued_Operation

Discontinued Operation	3 Months Ended
	Mar. 31, 2015
Discontinued Operation [Abstract]
Discontinued Operation	NOTE 2 – DISCONTINUED OPERATION
	Student Lending Business Disposition
	On April 25, 2014, the Company completed the sale of its student lending business along with certain secured debt and servicing rights. As a result, the student lending business is reported as a discontinued operation for 2014.
	The operating results are presented separately in the Company’s Consolidated Financial Statements. There were no assets or liabilities related to the discontinued operation at March 31, 2015 or December 31, 2014.
	Interest expense allocated to discontinued operation corresponded to debt of approximately $3.2 billion, net of $224 million of Fresh Start Accounting (“FSA”) discount. Salaries and general operating expenses included in discontinued operation consisted of direct expenses of the student lending business that were separate from ongoing CIT operations and did not continue subsequent to disposal.
	Summarized financial information for the discontinued business is shown below.





	Operating Results of Discontinued Operation (dollars in millions)



		Quarter Ended March 31, 2014
	Interest income	$ 21.2
	Interest expense	-19
	Other income	3.0
	Operating expenses	-2.2
	Income from discontinued operation before provision for income taxes	3.0
	Provision for income taxes	-0.7
	Income from discontinued operation, net of taxes	2.3

Loans

Loans	3 Months Ended
Loans	Mar. 31, 2015
Loans [Abstract]
Loans	NOTE 3 — LOANS
	Finance receivables consist of the following:


	Finance Receivables by Product (dollars in millions)




		March 31,		December 31,
		2015		2014
	Loans	$ 14,384.9		$ 14,398.2
	Direct financing leases and leveraged leases	5,044.4		5,096.8
	Finance receivables	19,429.3		19,495.0
	Finance receivables held for sale	773.2		779.9
	Finance receivables and held for sale receivables (1)	$ 20,202.5		$ 20,274.9





		-1		Assets held for sale on the Balance Sheet includes finance receivables and operating lease equipment. As discussed in subsequent tables, since the Company manages the credit risk and collections of finance receivables held for sale consistently with its finance receivables held for investment, the aggregate amount is presented in this table.

	The following table presents finance receivables by segment, based on obligor location:


	Finance Receivables (dollars in millions)








		31-Mar-15				31-Dec-14
		Domestic	Foreign	Total		Domestic	Foreign	Total
	Transportation & International Finance	$ 797.1	$ 2,771.4	$ 3,568.5		$ 812.6	$ 2,746.3	$ 3,558.9
	North American Commercial Finance	14,666.0	1,194.8	15,860.8		14,645.1	1,290.9	15,936.0
	Non-Strategic Portfolios	-	-	-		-	0.1	0.1
	Total	$ 15,463.1	$ 3,966.2	$ 19,429.3		$ 15,457.7	$ 4,037.3	$ 19,495.0


	The following table presents selected components of the net investment in finance receivables:


	Components of Net Investment in Finance Receivables (dollars in millions)






		March 31,		December 31,
		2015		2014
	Unearned income	$ (1,026.8)		$ (1,037.8)
	Unamortized (discounts)	-20.3		-22
	Net unamortized deferred costs and (fees)	53.1		48.5


	Certain of the following tables present credit-related information at the “class” level in accordance with ASC 310-10-50, Disclosures about the Credit Quality of Finance Receivables and the Allowance for Credit Losses. A class is generally a disaggregation of a portfolio segment. In determining the classes, CIT considered the finance receivable characteristics and methods it applies in monitoring and assessing credit risk and performance.
	Credit Quality Information
	The following table summarizes finance receivables by the risk ratings that bank regulatory agencies utilize to classify credit exposure and which are consistent with indicators the Company monitors. Customer risk ratings are reviewed on a regular basis by Credit Risk Management and are adjusted as necessary for updated information affecting the borrowers’ ability to fulfill their obligations.
	The definitions of these ratings are as follows:
		Pass – finance receivables in this category do not meet the criteria for classification in one of the categories below.

		Special mention – a special mention asset exhibits potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects.


		Classified – a classified asset ranges from: (1) assets that exhibit a well-defined weakness and are inadequately protected by the current sound worth and paying capacity of the borrower, and are characterized by the distinct possibility that some loss will be sustained if the deficiencies are not corrected to (2) assets with weaknesses that make collection or liquidation in full unlikely on the basis of current facts, conditions, and values. Assets in this classification can be accruing or on non-accrual depending on the evaluation of these factors.



Finance and Held for Sale Receivables — by Risk Rating (dollars in millions)







	Transportation & International Finance		North American Commercial Finance
Grade:	Transportation Finance	International Finance	Corporate Finance	Equipment Finance	Real Estate Finance	Commercial Services	Subtotal	Non-Strategic Portfolios	Total
31-Mar-15
Pass	$ 2,902.1	$ 804.3	$ 6,000.1	$ 4,146.5	$ 1,770.5	$ 2,064.6	$ 17,688.1	$ 241.4	$ 17,929.5
Special mention	36.4	78.4	702.9	323.7	43.4	310.3	1,495.1	13.7	1,508.8
Classified - accruing	24.6	76.8	138.1	164.8	-	167.8	572.1	8.6	580.7
Classified - non-accrual	0.1	39.1	44.5	71.1	-	-	154.8	28.7	183.5
Total	$ 2,963.2	$ 998.6	$ 6,885.6	$ 4,706.1	$ 1,813.9	$ 2,542.7	$ 19,910.1	$ 292.4	$ 20,202.5
31-Dec-14
Pass	$ 2,895.9	$ 820.2	$ 6,199.0	$ 4,129.1	$ 1,692.0	$ 2,084.1	$ 17,820.3	$ 288.7	$ 18,109.0
Special mention	12.8	107.9	561.0	337.8	76.6	278.8	1,374.9	18.4	1,393.3
Classified - accruing	44.1	58.0	121.8	180.4	-	197.3	601.6	10.5	612.1
Classified - non-accrual	0.1	37.1	30.9	70.0	-	-	138.1	22.4	160.5
Total	$ 2,952.9	$ 1,023.2	$ 6,912.7	$ 4,717.3	$ 1,768.6	$ 2,560.2	$ 19,934.9	$ 340.0	$ 20,274.9



Past Due and Non-accrual Loans
The table that follows presents portfolio delinquency status, regardless of accrual/non-accrual classification:


Finance and Held for Sale Receivables — Delinquency Status (dollars in millions)








					Total Past
		30–59 Days	60–89 Days	90 Days or	Due 30 Days or		Total Finance
		Past Due	Past Due	Greater	Greater	Current	Receivables
31-Mar-15
Transportation Finance		$ 5.4	$ 7.7	$ 2.9	$ 16.0	$ 2,947.2	$ 2,963.2
International Finance		26.2	7.4	34.1	67.7	930.9	998.6
Corporate Finance		-	-	2.0	2.0	6,883.6	6,885.6
Equipment Finance		88.1	21.6	13.7	123.4	4,582.7	4,706.1
Real Estate Finance		-	-	-	-	1,813.9	1,813.9
Commercial Services		34.1	1.3	0.9	36.3	2,506.4	2,542.7
Sub-total		153.8	38.0	53.6	245.4	19,664.7	19,910.1
Non-Strategic Portfolios		10.7	4.0	17.5	32.2	260.2	292.4
Total		$ 164.5	$ 42.0	$ 71.1	$ 277.6	$ 19,924.9	$ 20,202.5
31-Dec-14
Transportation Finance		$ 5.2	$ 1.9	$ 4.3	$ 11.4	$ 2,941.5	$ 2,952.9
International Finance		43.9	7.0	21.6	72.5	950.7	1,023.2
Corporate Finance		4.4	-	0.5	4.9	6,907.8	6,912.7
Equipment Finance		93.7	32.9	14.9	141.5	4,575.8	4,717.3
Real Estate Finance		-	-	-	-	1,768.6	1,768.6
Commercial Services		62.2	3.3	0.9	66.4	2,493.8	2,560.2
Sub-total		209.4	45.1	42.2	296.7	19,638.2	19,934.9
Non-Strategic Portfolios		16.4	6.9	9.6	32.9	307.1	340.0
Total		$ 225.8	$ 52.0	$ 51.8	$ 329.6	$ 19,945.3	$ 20,274.9


The following table sets forth non-accrual loans and assets received in satisfaction of loans (repossessed assets). Non-accrual loans include loans that are individually evaluated and determined to be impaired (generally loans with balances greater than $500,000), as well as other, smaller balance loans placed on non-accrual due to delinquency (generally 90 days or more).


Finance Receivables on Non-accrual Status (dollars in millions)







		31-Mar-15				31-Dec-14
		Held for Investment	Held for Sale	Total		Held for Investment	Held for Sale	Total
Transportation Finance		$ 0.1	$ -	$ 0.1		$ 0.1	$ -	$ 0.1
International Finance		23.5	15.6	39.1		22.4	14.7	37.1
Corporate Finance		43.0	1.5	44.5		30.9	-	30.9
Equipment Finance		71.1	-	71.1		70.0	-	70.0
Sub-total		137.7	17.1	154.8		123.4	14.7	138.1
Non-Strategic Portfolios		-	28.7	28.7		-	22.4	22.4
Total		$ 137.7	$ 45.8	$ 183.5		$ 123.4	$ 37.1	$ 160.5
Repossessed assets				0.6				0.8
Total non-performing assets				$ 184.1				$ 161.3

Total Accruing loans past due 90 days or more				$ 21.5				$ 10.3

Payments received on non-accrual financing receivables are generally applied first against outstanding principal, though in certain instances where the remaining recorded investment is deemed fully collectible, interest income is recognized on a cash basis.
Impaired Loans
The Company’s policy is to review for impairment finance receivables greater than $500,000 that are on non-accrual status. Small-ticket loan and lease receivables that have not been modified in a troubled debt restructuring, as well as short-term factoring receivables, are included (if appropriate) in the reported non-accrual balances above, but are excluded from the impaired finance receivables disclosure below as charge-offs are typically determined and recorded for such loans when they are more than 90 – 150 days past due.
The following table contains information about impaired finance receivables and the related allowance for loan losses, exclusive of finance receivables that were identified as impaired at the Convenience Date for which the Company is applying the income recognition and disclosure guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality), which are disclosed further below in this note.


Impaired Loans (dollars in millions)







						Three Months Ended March 31,
			31-Mar-15			2015	2014
				Unpaid		Average	Average
			Recorded	Principal	Related	Recorded	Recorded
			Investment	Balance	Allowance	Investment	Investment

With no related allowance recorded:
International Finance			$ 8.1	$ 11.4	$ -	$ 9.2	$ 6.0
Corporate Finance			0.6	0.6	-	0.9	130.6
Equipment Finance			4.4	5.4	-	5.0	6.3
Commercial Services			4.0	4.0	-	4.1	8.8
Non-Strategic Portfolios			-	-	-	-	8.4
With an allowance recorded:
Transportation Finance			-	-	-	-	14.9
International Finance			8.1	8.1	1.4	7.1	-
Corporate Finance			42.5	43.6	13.4	36.1	50.4
Total Impaired Loans(1)			67.7	73.1	14.8	62.4	228.5
Total Loans Impaired at Convenience Date(2)			0.1	14.7	-	0.7	54.4
Total			$ 67.8	$ 87.8	$ 14.8	$ 63.1	$ 282.9

						Year Ended
			31-Dec-14			31-Dec-14
				Unpaid		Average
			Recorded	Principal	Related	Recorded
			Investment	Balance	Allowance	Investment
With no related allowance recorded:
International Finance			$ 10.2	$ 17.0	$ -	$ 10.1
Corporate Finance			1.2	1.2	-	104.9
Equipment Finance			5.6	6.8	-	5.8
Commercial Services			4.2	4.2	-	6.9
Non-Strategic Portfolios			-	-	-	3.4
With an allowance recorded:
Transportation Finance			-	-	-	9.0
International Finance			6.0	6.0	1.0	3.4
Corporate Finance			29.6	34.3	11.4	43.5
Equipment Finance			-	-	-	0.8
Commercial Services			-	-	-	2.8
Total Impaired Loans (1)			56.8	69.5	12.4	190.6
Total Loans Impaired at Convenience date(2)			1.2	15.8	0.5	26.4
Total			$ 58.0	$ 85.3	$ 12.9	$ 217.0


	-1		Interest income recorded for the three months ended March 31, 2015 and 2014 while the loans were impaired was $0.4 million and $0.7 million, respectively, of which $0 and $0.4 million was interest recognized using the cash-basis method of accounting. Interest income recorded for the year ended December 31, 2014 while the loans were impaired was $10.1 million, of which $0.7 million was interest recognized using the cash-basis method of accounting.
	-2		Details of finance receivables that were identified as impaired at the Convenience Date are presented under Loans and Debt Securities Acquired with Deteriorated Credit Quality.

Impairment occurs when, based on current information and events, it is probable that CIT will be unable to collect all amounts due according to contractual terms of the agreement. The Company has established review and monitoring procedures designed to identify, as early as possible, customers that are experiencing financial difficulty. Credit risk is captured and analyzed based on the Company’s internal probability of obligor default (PD) and loss given default (LGD) ratings. A PD rating is determined by evaluating borrower credit-worthiness, including analyzing credit history, financial condition, cash flow adequacy, financial performance and management quality. An LGD rating is predicated on transaction structure, collateral valuation and related guarantees or recourse. Further, related considerations in determining probability of collection include the following:

			Instances where the primary source of payment is no longer sufficient to repay the loan in accordance with terms of the loan document;
			Lack of current financial data related to the borrower or guarantor;
			Delinquency status of the loan;
			Borrowers experiencing problems, such as operating losses, marginal working capital, inadequate cash flow, excessive financial leverage or business interruptions;
			Loans secured by collateral that is not readily marketable or that has experienced or is susceptible to deterioration in realizable value; and
			Loans to borrowers in industries or countries experiencing severe economic instability.

Impairment is measured as the shortfall between estimated value and recorded investment in the finance receivable. A specific allowance or charge-off is recorded for the shortfall. In instances where the estimated value exceeds the recorded investment, no specific allowance is recorded. The estimated value is determined using fair value of collateral and other cash flows if the finance receivable is collateralized, the present value of expected future cash flows discounted at the contract’s effective interest rate, or market price. In instances when the Company measures impairment based on the present value of expected future cash flows, the change in present value is reported in the provision for credit losses.
The following summarizes key elements of the Company’s policy regarding the determination of collateral fair value in the measurement of impairment:
			“Orderly liquidation value” is the basis for collateral valuation;
			Appraisals are updated annually or more often as market conditions warrant; and
			Appraisal values are discounted in the determination of impairment if the:

				appraisal does not reflect current market conditions; or
				collateral consists of inventory, accounts receivable, or other forms of collateral that may become difficult to locate, collect or subject to pilferage in a liquidation.


Loans and Debt Securities Acquired with Deteriorated Credit Quality
For purposes of this presentation, the Company is applying the income recognition and disclosure guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality) to finance receivables that were identified as impaired under FSA at the Convenience Date. At March 31, 2015 and December 31, 2014, the carrying amounts approximated $0.1 million and $1 million, respectively, and the outstanding balance approximated $15 million and $16 million, respectively. The outstanding balance represents the sum of contractual principal, interest and fees earned at the reporting date, calculated as pre-FSA net investment plus inception to date charge-offs. The allowance for loan losses on these loans was $0 at March 31, 2015 and $0.5 million at December 31, 2014. See Note 4 – Allowance for Loan Losses.



Troubled Debt Restructurings
The Company periodically modifies the terms of finance receivables in response to borrowers’ difficulties. Modifications that include a financial concession to the borrower are accounted for as troubled debt restructurings (TDRs).
CIT uses a consistent methodology across all loans to determine if a modification is with a borrower that has been determined to be in financial difficulty and was granted a concession. Specifically, the Company’s policies on TDR identification include the following examples of indicators used to determine whether the borrower is in financial difficulty:
			Borrower is in default with CIT or other material creditor
			Borrower has declared bankruptcy
			Growing doubt about the borrower’s ability to continue as a going concern
			Borrower has (or is expected to have) insufficient cash flow to service debt
			Borrower is de-listing securities
			Borrower’s inability to obtain funds from other sources
			Breach of financial covenants by the borrower.

If the borrower is determined to be in financial difficulty, then CIT utilizes the following criteria to determine whether a concession has been granted to the borrower:
		Assets used to satisfy debt are less than CIT’s recorded investment in the receivable
		Modification of terms – interest rate changed to below market rate
		Maturity date extension at an interest rate less than market rate
		The borrower does not otherwise have access to funding for debt with similar risk characteristics in the market at the restructured rate and terms
		Capitalization of interest
		Increase in interest reserves
		Conversion of credit to Payment-In-Kind (PIK)
		Delaying principal and/or interest for a period of three months or more
		Partial forgiveness of the balance.

Modified loans that meet the definition of a TDR are subject to the Company’s standard impaired loan policy, namely that non-accrual loans in excess of $500,000 are individually reviewed for impairment, while non-accrual loans less than $500,000 are considered as part of homogenous pools and are included in the determination of the non-specific allowance.
The recorded investment of TDRs at March 31, 2015 and December 31, 2014 was $14.6 million and $17.2 million, of which 72% and 75%, respectively were on non-accrual. North American Commercial Finance receivables accounted for 96% of the total TDRs at March 31, 2015 and 91% at December 31, 2014, and there were $1.0 million and $0.8 million, respectively, of commitments to lend additional funds to borrowers whose loan terms have been modified in TDRs.
Recorded investment related to modifications qualifying as TDRs that occurred during the quarters ended March 31, 2015 and 2014 were $0.7 million and $10.3 million, respectively. The recorded investment of TDRs that experience a payment default (payment default is one missed payment) at the time of default, during the quarters ended March 31, 2015 and 2014, and for which the payment default occurred within one year of the modification totaled $0.3 million in each period. The March 31, 2015 defaults related to Equipment Financing and Non-Strategic Portfolios and all of the March 31, 2014 defaults related primarily to Equipment Finance and Non-Strategic Portfolios.
The financial impact of the various modification strategies that the Company employs in response to borrower difficulties is described below. While the discussion focuses on the 2015 amounts, the overall nature and impact of modification programs were comparable in the prior year.


		The nature of modifications qualifying as TDR’s based upon recorded investment at March 31, 2015 was comprised of payment deferrals for 34% and covenant relief and/or other for 66%. December 31, 2014 TDR recorded investment was comprised of payment deferrals for 35%, and covenant relief and/or other for 65%, and interest rate reductions and debt forgiveness for 1%;
		Payment deferrals, the Company’s most common type of modification program, result in lower net present value of cash flows, if not accompanied by additional interest or fees, and increased provision for credit losses to the extent applicable. The financial impact of these modifications is not significant given the moderate length of deferral periods;

		Interest rate reductions result in lower amounts of interest being charged to the customer, but are a relatively small part of the Company’s restructuring programs. Additionally, in some instances, modifications improve the Company’s economic return through increased interest rates and fees, but are reported as TDRs due to assessments regarding the borrowers’ ability to independently obtain similar funding in the market and assessments of the relationship between modified rates and terms and comparable market rates and terms. The weighted average change in interest rates for all TDRs occurring during the quarters ended March 31, 2015 and 2014 was not significant;
		Debt forgiveness, or the reduction in amount owed by borrower, results in incremental provision for credit losses, in the form of higher charge-offs. While these types of modifications have the greatest individual impact on the allowance, the amounts of principal forgiveness for TDRs occurring during the quarter ended March 31, 2015 and 2014 was not significant, as debt forgiveness is a relatively small component of the Company’s modification programs; and
		The other elements of the Company’s modification programs that are not TDRs, do not have a significant impact on financial results given their relative size, or do not have a direct financial impact, as in the case of covenant changes.

Allowance_For_Loan_Losses

Allowance For Loan Losses	3 Months Ended
Allowance For Loan Losses	Mar. 31, 2015
Allowance For Loan Losses [Abstract]
Allowance For Loan Losses	NOTE 4 — ALLOWANCE FOR LOAN LOSSES


	Allowance for Loan Losses and Recorded Investment in Finance Receivables (dollars in millions)







			Transportation & International Finance	North American Commercial Finance	Non-Strategic Portfolios	Corporate and Other	Total
	Beginning balance - December 31, 2014		$ 46.8	$ 299.6	$ -	$ -	$ 346.4
	Provision for credit losses		10.6	24.0	0.0	-	34.6
	Other(1)		-0.4	-3.2	-	-	-3.6
	Gross charge-offs (2)		-3.2	-23.4	-	-	-26.6
	Recoveries		1.7	4.0	0.0	-	5.7
	Allowance balance - March 31, 2015		$ 55.5	$ 301.0	$ -	$ -	$ 356.5





	Allowance balance:
	At March 31, 2015
	Loans individually evaluated for impairment		$ 1.4	$ 13.4	$ -	$ -	$ 14.8
	Loans collectively evaluated for impairment		54.1	287.6	0.0	-	341.7
	Loans acquired with deteriorated credit quality (3)		-	-	-	-	-
	Allowance balance		$ 55.5	$ 301.0	$ -	$ -	$ 356.5
	Other reserves (1)		$ 0.5	$ 36.8	$ -	$ -	$ 37.3
	At March 31, 2014
	Loans individually evaluated for impairment		$ 0.7	$ 25.0	$ -	$ -	$ 25.7
	Loans collectively evaluated for impairment		45.0	280.9	0.0	-	325.9
	Loans acquired with deteriorated credit quality (3)		-	1.0	-	-	1.0
	Allowance balance		$ 45.7	$ 306.9	$ -	$ -	$ 352.6
	Other reserves (1)		$ 0.4	$ 30.6	$ -	$ -	$ 31.0
	Finance receivables:
	At March 31, 2015
	Loans individually evaluated for impairment		$ 16.2	$ 51.5	$ -	$ -	$ 67.7
	Loans collectively evaluated for impairment		3,552.3	15,809.2	-	-	19,361.5
	Loans acquired with deteriorated credit quality (3)		0.0	0.1	0.0	-	0.1
	Ending balance		$ 3,568.5	$ 15,860.8	$ -	$ -	$ 19,429.3
	Percent of loans to total loans		18.4%	81.6%	0.0%	-	100.0%
	At March 31, 2014
	Loans individually evaluated for impairment		$ 20.6	$ 192.4	$ 6.6	$ -	$ 219.6
	Loans collectively evaluated for impairment		3,532.8	14,657.6	107.0	-	18,297.4
	Loans acquired with deteriorated credit quality (3)		0.1	52.8	1.8	-	54.7
	Ending balance		$ 3,553.5	$ 14,902.8	$ 115.4	$ -	$ 18,571.7
	Percent of loans to total loans		19.1%	80.3%	0.6%	-	100.0%









		-1		“Other reserves” represents additional credit loss reserves for unfunded lending commitments, letters of credit and for deferred purchase agreements, all of which is recorded in Other liabilities. “Other” also includes changes relating to sales and foreign currency translations.
		-2		Gross charge-offs include $6 million charged directly to the Allowance for loan losses for the quarter ended March 31, 2014 and none in the quarter ended March 31, 2015. In 2014, $6 million related to NACF.
		-3		Represents loans considered impaired in FSA and are accounted for under the guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality).

Securities_Purchased_Under_Res

Securities Purchased Under Resale Agreements	3 Months Ended
Securities Purchased Under Resale Agreements	Mar. 31, 2015
Securities Purchased Under Resale Agreements [Abstract]
Securities Purchased Under Resale Agreements
	NOTE 5 – SECURITIES PURCHASED UNDER RESALE AGREEMENTS

	At March 31, 2015 and December 31, 2014, the Company had $450 million and $650 million, respectively, of securities purchased under resale agreements. Securities purchased under agreements to resell (reverse repos) generally do not constitute a sale or purchase of the underlying securities for accounting purposes and, therefore are treated as collateralized financing transactions. These agreements are recorded at the amounts at which the securities were acquired. See Note 9 – Fair Value for discussion of fair value. These agreements are short-term securities that had maturity dates of 90 days or less and are secured by the underlying collateral, which, along with the cash investment, are maintained by a tri-party custodian.

Investment_Securities

Investment Securities	3 Months Ended
Investment Securities	Mar. 31, 2015
Investment Securities [Abstract]
Investment Securities	NOTE 6— INVESTMENT SECURITIES

	Investments include debt and equity securities. The Company’s debt securities primarily include U.S. Government Agency securities, U.S. Treasury securities, and foreign government securities. Equity securities include common stock and warrants.


	Investment Securities (dollars in millions)







			March 31,		December 31,
			2015		2014
	Debt securities available-for-sale		$ 949.8		$ 1,116.5
	Equity securities available-for-sale		14.3		14.0
	Debt securities held-to-maturity (1)		320.1		352.3
	Non-marketable equity investments(2)		63.2		67.5
	Total investment securities		$ 1,347.4		$ 1,550.3



	(1) Recorded at amortized cost less impairment on securities that have credit-related impairment.
	(2) Non-marketable equity investments include ownership interests greater than 3% in limited partnership investments that are accounted for under the equity method. Non-marketable equity investments include $19.3 million and $19.7 million in limited partnerships at March 31, 2015 and December 31, 2014, respectively, accounted for under the equity method. The remaining investments are carried at cost and include qualified Community Reinvestment Act (“CRA”) investments, equity fund holdings and shares issued by customers during loan work out situations or as part of an original loan investment.

	Realized investment gains totaled $0.7 million and $3.3 million for the quarters ended March 31, 2015 and 2014, respectively, and exclude losses from other than temporary impairments (“OTTI”). OTTI credit-related impairments on equity securities recognized in earnings were not material for the quarters ended March 31, 2015 and 2014. Impairment amounts in accumulated other comprehensive income (“AOCI”) were not material at March 31, 2015 or December 31, 2014.
	In addition, the Company maintained $5.4 billion and $6.2 billion of interest bearing deposits at March 31, 2015 and December 31, 2014, respectively, which are cash equivalents and are classified separately on the balance sheet.
	The following table presents interest and dividends on interest bearing deposits, investments and reverse repurchase agreements:


	Interest and Dividend Income (dollars in millions)






			Quarters Ended March 31,
			2015		2014
	Interest income - interest bearing deposits		4.0		$ 4.6
	Interest income - investments / reverse repos		4.1		3.3
	Dividends - investments		0.5		0.9
	Interest and dividends on interest bearing deposits and investments		8.6		$ 8.8

	Securities Available-for-Sale
	The following table presents amortized cost and fair value of securities AFS.


	Securities AFS — Amortized Cost and Fair Value (dollars in millions)






					Gross		Gross
			Amortized		Unrealized		Unrealized		Fair
	31-Mar-15		Cost		Gains		Losses		Value
	Debt securities AFS
	U.S. government agency obligations		950.0		-		-0.7		949.3
	Foreign government securities		0.5		-		-		0.5
	Total debt securities AFS		950.5		-		-0.7		949.8
	Equity securities AFS		14.2		0.4		-0.3		14.3
Total securities AFS		$ 964.7		$ 0.4		$ (1.0)		$ 964.1
31-Dec-14
Debt securities AFS
U.S. Treasury securities		$ 200.0		$ -		$ -		$ 200.0
U.S. government agency obligations		904.2		-		-		904.2
Foreign government securities		12.3		-		-		12.3
Total debt securities AFS		1,116.5		-		-		1,116.5
Equity securities AFS		14.0		0.6		-0.6		14.0
Total securities AFS		$ 1,130.5		$ 0.6		$ (0.6)		$ 1,130.5


Debt Securities Held-to-Maturity
The carrying value and fair value of securities HTM were as follows:


Debt Securities HTM — Carrying Value and Fair Value (dollars in millions)







				Gross		Gross
		Carrying		Unrecognized		Unrecognized		Fair
		Value		Gains		Losses		Value
31-Mar-15
Mortgage-backed securities - U.S. government owned and sponsored agencies		$ 161.2		$ 2.5		$ (1.4)		$ 162.3
State and municipal		43.8		0.1		-0.5		43.4
Foreign government		8.9		0.1		-		9.0
Corporate - foreign		106.2		7.2		-		113.4
Total debt securities held-to-maturity		$ 320.1		$ 9.9		$ (1.9)		$ 328.1
31-Dec-14
Mortgage-backed securities - U.S. government owned and sponsored agencies		$ 156.3		$ 2.5		$ (1.9)		$ 156.9
State and municipal		48.1		0.1		-1.8		46.4
Foreign government		37.9		0.1		-		38.0
Corporate - foreign		110.0		9.0		-		119.0
Total debt securities held-to-maturity		$ 352.3		$ 11.7		$ (3.7)		$ 360.3




The following table presents the amortized cost and fair value of securities HTM by contractual maturity dates:



Securities HTM — Carrying Value and Fair Value Maturities (dollars in millions)







		31-Mar-15				31-Dec-14
		Amortized		Fair		Amortized		Fair
		Cost		Value		Cost		Value
Mortgage-backed securities - U.S. government owned and sponsored agencies
Due after 5 but within 10 years		$ 1.3		$ 1.3		$ 1.3		$ 1.3
Due after 10 years (1)		159.9		161.0		155.0		155.6
Total		161.2		162.3		156.3		156.9
State and municipal
Due within 1 year		1.1		1.1		1.2		1.2
Due after 1 but within 5 years		2.6		2.6		2.9		2.9
Due after 5 but within 10 years		-		-		-		-
Due after 10 years (1)		40.1		39.7		44.0		42.3
Total		43.8		43.4		48.1		46.4
Foreign government
Due within 1 year		6.5		6.5		10.8		10.8
Due after 1 but within 5 years		2.4		2.5		27.1		27.2
Total		8.9		9.0		37.9		38.0
Corporate - Foreign
Due within 1 year		0.9		0.9		0.9		0.9
Due after 1 but within 5 years		39.9		44.9		43.7		49.8
After 5 but within 10 years		65.4		67.6		65.4		68.3
Total		106.2		113.4		110.0		119.0
Total debt securities held-to-maturity		$ 320.1		$ 328.1		$ 352.3		$ 360.3

(1) Investments with no stated maturities are included as contractual maturities of greater than 10 years. Actual maturities may differ due to call or prepayment rights.

LongTerm_Borrowings

Long-Term Borrowings	3 Months Ended
Long-Term Borrowings	Mar. 31, 2015
Long-Term Borrowings [Abstract]
Long-Term Borrowings	NOTE 7 — LONG-TERM BORROWINGS
	The following table presents the carrying value of outstanding long-term borrowings:


	Long-term Borrowings (dollars in millions)







			31-Mar-15						31-Dec-14
			CIT Group Inc.		Subsidiaries		Total		Total

	Senior Unsecured (1)		$ 10,732.6		$ -		$ 10,732.6		$ 11,932.4
	Secured borrowings		-		5,925.7		5,925.7		6,523.4
	Total Long-term Borrowings		$ 10,732.6		$ 5,925.7		$ 16,658.3		$ 18,455.8


		-1		Senior Unsecured Notes at March 31, 2015 were comprised of $8,243.7 million of Unsecured Notes, $2,450.0 million of Series C Notes and $38.9 million of other unsecured debt.

	Unsecured Borrowings
	Revolving Credit Facility
	There were no outstanding borrowings under the Revolving Credit Facility at March 31, 2015 and December 31, 2014. The amount available to draw upon at March 31, 2015 was approximately $1.4 billion, with the remaining amount of approximately $0.1 billion being utilized for issuance of letters of credit.
	The Revolving Credit Facility has a total commitment amount of $1.5 billion and the maturity date of the commitment is January 27, 2017. The total commitment amount consists of a $1.15 billion revolving loan tranche and a $350 million revolving loan tranche that can also be utilized for issuance of letters of credit. The applicable margin charged under the facility is 2.50% for LIBOR-based loans and 1.50% for Base Rate loans.
	The Revolving Credit Facility may be drawn and prepaid at the option of CIT. The unutilized portion of any commitment under the Revolving Credit Facility may be reduced permanently or terminated by CIT at any time without penalty.
	The Revolving Credit Facility is unsecured and is guaranteed by eight of the Company’s domestic operating subsidiaries. The facility was amended in January 2014 to modify the covenant requiring a minimum guarantor asset coverage ratio and the criteria for calculating the ratio. The amended covenant requires a minimum guarantor asset coverage ratio ranging from 1.25:1.0 to the current requirement of 1.5: 1.0 depending on the Company’s long-term senior unsecured debt rating.
	The Revolving Credit Facility is subject to a $6 billion minimum consolidated net worth covenant of the Company, tested quarterly, and also limits the Company’s ability to create liens, merge or consolidate, sell, transfer, lease or dispose of all or substantially all of its assets, grant a negative pledge or make certain restricted payments during the occurrence and continuance of an event of default.

	Senior Unsecured Notes

	In January 2015, we filed a “shelf” registration that expires in January 2018 that replaced an existing shelf. The notes issued under the shelf registration rank equal in right of payment with the Series C Unsecured Notes and the Revolving Credit Facility.
	The following tables present the principal amounts of Senior Unsecured Notes issued under the Company’s shelf registration and Series C Unsecured Notes by maturity date.

	Senior Unsecured Notes (dollars in millions)



	Maturity Date		Rate (%)		Date of Issuance		Par Value
	May-17		5.000%		May-12		1,250.0
	Aug-17		4.250%		Aug-12		1,750.0
	Mar-18		5.250%		Mar-12		1,500.0
	April 2018*		6.625%		Mar-11		700.0
	February 2019*		5.500%		Feb-12		1,750.0
	Feb-19		3.875%		Feb-14		1,000.0
	May-20		5.375%		May-12		750.0
	Aug-22		5.000%		Aug-12		1,250.0
	Aug-23		5.000%		Aug-13		750.0
	Weighted average coupon rate and total		5.02%				$ 10,700.0

	* Series C Unsecured Notes

	The Indentures for the Senior Unsecured Notes and Series C Unsecured Notes limit the Company’s ability to create liens, merge or consolidate, or sell, transfer, lease or dispose of all or substantially all of its assets. Upon a Change of Control Triggering Event as defined in the Indentures for the Senior Unsecured Notes and Series C Unsecured Notes, holders of the Senior Unsecured Notes and Series C Unsecured Notes will have the right to require the Company, as applicable, to repurchase all or a portion of the Senior Unsecured Notes and Series C Unsecured Notes at a purchase price equal to 101% of the principal amount, plus accrued and unpaid interest to the date of such repurchase.
	Secured Borrowings
	Set forth below are borrowings and pledged assets, which are primarily owned by consolidated variable interest entities. Creditors of these entities received ownership and/or security interests in the assets. These entities are intended to be bankruptcy remote so that such assets are not available to creditors of CIT or any affiliates of CIT until and unless the related secured borrowings have been fully discharged. These transactions do not meet accounting requirements for sales treatment and are recorded as secured borrowings.


	Secured Borrowings and Pledged Assets Summary (1) (dollars in millions)






		31-Mar-15				31-Dec-14
		Secured Borrowing		Pledged Assets		Secured Borrowing		Pledged Assets
Rail(2)		$ 1,125.9		$ 1,516.1		$ 1,179.7		$ 1,575.7
Aerospace(2)		2,348.6		3,790.7		2,411.7		3,914.4
International Finance		528.4		726.4		545.0		730.6
Subtotal - Transportation & International Finance		4,002.9		6,033.2		4,136.4		6,220.7
Corporate Finance		86.7		149.4		129.7		141.6
Real Estate Finance		-		167.6		125.0		168.0
Commercial Services		334.7		1,917.4		334.7		1,644.6
Equipment Finance		1,501.4		2,089.7		1,797.6		2,352.8
Subtotal - North American Commercial Finance		1,922.8		4,324.1		2,387.0		4,307.0
Total		$ 5,925.7		$ 10,357.3		$ 6,523.4		$ 10,527.7

(1) As part of our liquidity management strategy, we pledge assets to secure financing transactions (which include securitizations), borrowings from the FHLB and FRB, and for other purposes as required or permitted by law.
(2) At March 31, 2015 the GSI TRS related borrowings and pledged assets, respectively, of $1.2 billion and $1.8 billion were included in TIF. The GSI TRS is described in Note 8 – Derivative Financial Instruments.

CIT Bank is a member of the FHLB of Seattle and may borrow under a line of credit that is secured by collateral pledged to FHLB Seattle. CIT Bank did not have any advances outstanding under the line at March 31, 2015 and the real estate assets pledged were in the process of being released. A subsidiary of CIT Bank is a member of FHLB Des Moines and may borrow under lines of credit that are secured by a blanket lien on the subsidiary’s assets and collateral pledged to FHLB Des Moines. At March 31, 2015, $87 million of advances were outstanding and $149 million of collateral was pledged with FHLB Des Moines and are included in Corporate Finance in the table above.
At March 31, 2015 we had pledged assets (including collateral for the FRB discount window not in the table above) of $12.4 billion, which included $6.6 billion of loans (including amounts held for sale), $4.8 billion of operating lease assets, $0.8 billion of cash and $0.2 billion of investment securities.
Variable Interest Entities (“VIE”)
The Company utilizes VIEs in the ordinary course of business to support its own and its customers’ financing needs. Each VIE is a separate legal entity and maintains its own books and records.
The most significant types of VIEs that CIT utilizes are ‘on balance sheet’ secured financings of pools of leases and loans originated by the Company where the Company is the primary beneficiary. The Company originates pools of assets and sells these to special purpose entities, which, in turn, issue debt instruments backed by the asset pools or sells individual interests in the assets to investors. CIT retains the servicing rights and participates in certain cash flows. These VIEs are typically organized as trusts or limited liability companies, and are intended to be bankruptcy remote, from a legal standpoint.
The main risks inherent in these secured borrowing structures are deterioration in the credit performance of the vehicle’s underlying asset portfolio and risk associated with the servicing of the underlying assets.
Lenders typically have recourse to the assets in the VIEs and may benefit from other credit enhancements, such as: (1) a reserve or cash collateral account that requires the Company to deposit cash in an account, which will first be used to cover any defaulted obligor payments, (2) over-collateralization in the form of excess assets in the VIE, or (3) subordination, whereby the Company retains a subordinate position in the secured borrowing which would absorb losses due to defaulted obligor payments before the senior certificate holders. The VIE may also enter into derivative contracts in order to convert the debt issued by the VIEs to match the underlying assets or to limit or change the risk of the VIE.
With respect to events or circumstances that could expose CIT to a loss, as these are accounted for as on balance sheet, the Company records an allowance for loan losses for the credit risks associated with the underlying leases and loans. The VIE has an obligation to pay the debt in accordance with the terms of the underlying agreements.
Generally, third-party investors in the obligations of the consolidated VIEs have legal recourse only to the assets of the VIEs and do not have recourse to the Company beyond certain specific provisions that are customary for secured financing transactions, such as asset repurchase obligations for breaches of representations and warranties. In addition, the assets are generally restricted to pay only such liabilities.

Derivative_Financial_Instrumen

Derivative Financial Instruments	3 Months Ended
Derivative Financial Instruments	Mar. 31, 2015
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	NOTE 8 — DERIVATIVE FINANCIAL INSTRUMENTS

	As part of managing economic risk and exposure to interest rate and foreign currency risk, the Company primarily enters into derivative transactions in over-the-counter markets with other financial institutions. The Company does not enter into derivative financial instruments for speculative purposes.

	The Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”) includes measures to broaden the scope of derivative instruments subject to regulation by requiring clearing and exchange trading of certain derivatives, and imposing margin, reporting and registration requirements for certain market participants. Since the Company does not meet the definition of a Swap Dealer or Major Swap Participant under the Act, the reporting and clearing obligations apply to a limited number of derivative transactions executed with its lending customers in order to manage their interest rate risk.

	See Note 1 — Business and Summary of Significant Accounting Policies in the Company’s Annual Report on form 10-K for the year ended December 31, 2014 for further description of derivative transaction policies.
	The following table presents fair values and notional values of derivative financial instruments:


	Fair and Notional Values of Derivative Financial Instruments (1) (dollars in millions)














	Contract Type		31-Mar-15						31-Dec-14
			Notional		Asset Fair		Liability		Notional		Asset Fair		Liability
	Qualifying Hedges		Amount		Value		Fair Value		Amount		Value		Fair Value
	Foreign currency forward contracts – net investment hedges		1,063.4		97.7		-0.9		1,193.1		74.7		-
	Total Qualifying Hedges		1,063.4		97.7		-0.9		1,193.1		74.7		0.0
	Non-Qualifying Hedges
	Interest rate swaps		2,117.2		19.5		-27.6		1,902.0		15.2		-23.1
	Written options		2,952.5		-		-1.9		2,711.5		-		-2.7
	Purchased options		1,059.8		0.5		-		948.4		0.8		-
	Foreign currency forward contracts		1,518.0		81.6		-11.6		2,028.8		77.2		-12
	Total Return Swap (TRS)		1,106.8		-		-25.5		1,091.9		-		-24.5
	Equity Warrants		1.0		0.1		-		1.0		0.1		-
	Total Non-qualifying Hedges		8,755.3		101.7		-66.6		8,683.6		93.3		-62.3
	Total Hedges		$ 9,818.7		$ 199.4		$ (67.5)		$ 9,876.7		$ 168.0		$ (62.3)




		-1		Presented on a gross basis

	Total Return Swaps (“TRS”)

	Two financing facilities between two wholly-owned subsidiaries of CIT and Goldman Sachs International (“GSI”) are structured as total return swaps (“TRS”), under which amounts available for advances are accounted for as derivatives. Pursuant to applicable accounting guidance, only the unutilized portion of the TRS is accounted for as a derivative and recorded at its estimated fair value. The size of the CIT Financial Ltd. (“CFL”) facility is $1.5 billion and the CIT TRS Funding B.V. (“BV”) facility is $625 million.

	The aggregate “notional amounts” of the total return swaps of $1,106.8 million at March 31, 2015 and $1,091.9 million at December 31, 2014 represent the aggregate unused portions under the CFL and BV facilities and constitute derivative financial instruments. These notional amounts are calculated as the maximum aggregate facility commitment amounts, currently $2,125.0 million, less the aggregate actual adjusted qualifying borrowing base outstanding of $1,018.2 million at March 31, 2015 and $1,033.1 million at December 31, 2014 under the facilities. The notional amounts of the derivatives will increase as the adjusted qualifying borrowing base decreases due to repayment of the underlying asset-backed securities (“ABS”) to investors. If CIT funds additional ABS under the facilities, the aggregate adjusted qualifying borrowing base of the total return swaps will increase and the notional amount of the derivatives will decrease accordingly.

	Valuation of the derivatives related to the GSI facilities is based on several factors using a discounted cash flow (“DCF”) methodology, including:
		-		CIT’s funding costs for similar financings based on current market conditions;
		-		Forecasted usage of the long-dated facilities through the final maturity date in 2028; and
		-		Forecasted amortization, due to principal payments on the underlying ABS, which impacts the amount of the unutilized portion.

	Based on the Company’s valuation, a liability of $25.5 million and $24.5 million was recorded at March 31, 2015 and December 31, 2014, respectively. The change in value is recorded in Other Income in the Consolidated Statements of Operations.

	Impact of Collateral and Netting Arrangements on the Total Derivative Portfolio

	The following tables present a summary of our derivative portfolio, which includes the gross amounts of recognized financial assets and liabilities; the amounts offset in the consolidated balance sheet; the net amounts presented in the consolidated balance sheet; the amounts subject to an enforceable master netting arrangement or similar agreement that were not included in the offset amount above, and the amount of cash collateral received or pledged. Substantially all of the derivative transactions are under an International Swaps and Derivatives Association (“ISDA”) agreement.



Offsetting of Derivative Assets and Liabilities (dollars in millions)





								Gross Amounts not offset in the Consolidated Balance Sheet

		Gross Amount of Recognized Assets (Liabilities)		Gross Amount Offset in the Consolidated Balance Sheet		Net Amount Presented in the Consolidated Balance Sheet		Derivative Financial Instruments (1)		Cash Collateral Pledged/(Received) (1)(2)		Net Amount
31-Mar-15
Derivative assets		$ 199.4		$ -		$ 199.4		$ (13.2)		$ (163.9)		$ 22.3
Derivative liabilities		-67.5		-		-67.5		13.2		14.7		-39.6

31-Dec-14
Derivative assets		$ 168.0		$ -		$ 168.0		$ (13.6)		$ (137.3)		$ 17.1
Derivative liabilities		-62.3		-		-62.3		13.6		8.7		-40

(1) The Company’s derivative transactions are governed by ISDA agreements that allow for net settlements of certain payments as well as offsetting of all contracts (“Derivative Financial Instruments”) with a given counterparty in the event of bankruptcy or default of one of the two parties to the transaction. We believe our ISDA agreements meet the definition of a master netting arrangement or similar agreement for purposes of the above disclosure. In conjunction with the ISDA agreements, the Company has entered into collateral arrangements with its counterparties which provide for the exchange of cash depending on the change in the market valuation of the derivative contracts outstanding. Such collateral is available to be applied in settlement of the net balances upon an event of default by one of the counterparties.

(2) Collateral pledged or received is included in Other assets or Other liabilities, respectively.


The following table presents the impact of derivatives on the statements of operations: There were no qualifying hedges for the periods disclosed.


Derivative Instrument Gains and Losses (dollars in millions)





				Quarters Ended March 31,
Contract Type		Gain / (Loss) Recognized		2015		2014
Non Qualifying Hedges
Cross currency swaps		Other income		-		5.1
Interest rate swaps		Other income		-0.2		3.8
Interest rate options		Other income		0.5		-0.1
Foreign currency forward contracts		Other income		86.2		29.1
Equity warrants		Other income		-		-0.2
Total Return Swap (TRS)		Other income		-1		-1.7
Total Non-qualifying Hedges				85.5		36.0
Total derivatives-income statement impact				$ 85.5		$ 36.0


The following table presents the changes in AOCI relating to derivatives:



Changes in AOCI Relating to Derivatives (dollars in millions)








Contract Type		Derivatives - effective portion reclassified from AOCI to income		Hedge ineffectiveness recorded directly in income		Total income statement impact		Derivatives - effective portion recorded in OCI		Total change in OCI for period
Quarter Ended March 31, 2015
Foreign currency forward contracts - net investment hedges		4.2		-		4.2		83.8		79.6
Total		4.2		0.0		4.2		83.8		79.6

Quarter Ended March 31, 2014
Foreign currency forward contracts - net investment hedges		-3.1		-		-3.1		4.5		7.6
Cross currency swaps - net investment hedges		-		-		-		1.8		1.8
Total		-3.1		-		-3.1		6.3		9.4

Fair_Value

Fair Value	3 Months Ended
Fair Value	Mar. 31, 2015
Fair Value [Abstract]
Fair Value	NOTE 9 — FAIR VALUE
	Fair Value Hierarchy
	The Company is required to report fair value measurements for specified classes of assets and liabilities. See Note 1 — “Business and Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 for further description of its derivative transaction policies for fair value measurement policy.
	The Company characterizes inputs in the determination of fair value according to the fair value hierarchy. The fair value of the Company’s assets and liabilities where the measurement objective specifically requires the use of fair value are set forth in the tables below:



	Assets and Liabilities Measured at Fair Value on a Recurring Basis (dollars in millions)







	31-Mar-15	Total	Level 1	Level 2	Level 3
	Assets
	Debt Securities AFS	949.8	0.5	949.3	-
	Equity Securities AFS	14.3	14.3	-	-
	Trading assets at fair value - derivatives	101.7	-	101.7	-
	Derivative counterparty assets at fair value	97.7	-	97.7	-
	Total	$ 1,163.5	$ 14.8	$ 1,148.7	$ -
	Liabilities
	Trading liabilities at fair value - derivatives	$ (66.6)	$ -	$ (39.5)	$ (27.1)
	Derivative counterparty liabilities at fair value	-0.9	-	-0.9	-
	Total	$ (67.5)	$ -	$ (40.4)	$ (27.1)
	31-Dec-14
	Assets
	Debt Securities AFS	$ 1,116.5	$ 212.3	$ 904.2	$ -
	Equity Securities AFS	14.0	14.0	-	-
	Trading assets at fair value - derivatives	93.3	-	93.3	-
	Derivative counterparty assets at fair value	74.7	-	74.7	-
	Total	$ 1,298.5	$ 226.3	$ 1,072.2	$ -
	Liabilities
	Trading liabilities at fair value - derivatives	$ (62.3)	$ -	$ (35.7)	$ (26.6)
	Total	$ (62.3)	$ -	$ (35.7)	$ (26.6)




	The following table presents financial instruments for which a non-recurring change in fair value has been recorded in the current year:


	Assets Measured at Fair Value on a Non-recurring Basis with a Change in Fair Value Recorded (dollars in millions)






			Fair Value Measurements at Reporting Date Using:
		Total	Level 1	Level 2	Level 3	Total Gains and (Losses)
	Assets
	31-Mar-15
	Assets held for sale	$ 411.9	$ -	$ -	$ 411.9	$ (10.4)
	Impaired loans	21.0	-	-	21.0	-5.4
	Total	$ 432.9	$ -	$ -	$ 432.9	$ (15.8)
	31-Dec-14
	Assets held for sale	$ 949.6	$ -	$ -	$ 949.6	$ (73.6)
	Impaired loans	13.2	-	-	13.2	-4.9
	Total	$ 962.8	$ -	$ -	$ 962.8	$ (78.5)



Loans are transferred from held for investment (“HFI”) to Assets held for sale (“HFS”) at the lower of cost or fair value. At the time of transfer, a write-down of the loan is recorded as a charge-off, if applicable. Once classified as HFS, the amount by which the carrying value exceeds fair value is recorded as a valuation allowance.
Impaired finance receivables of $500,000 or greater that are placed on non-accrual status are subject to periodic individual review in conjunction with the Company’s ongoing problem loan management (PLM) function. Impairment occurs when, based on current information and events, it is probable that CIT will be unable to collect all amounts due according to contractual terms of the agreement. Impairment is measured as the shortfall between estimated value and recorded investment in the finance receivable, with the estimated value determined using fair value of collateral and other cash flows if the finance receivable is collateralized, or the present value of expected future cash flows discounted at the contract’s effective interest rate.
Level 3 Gains and Losses
The tables below set forth a summary of changes in the estimated fair value of the Company’s Level 3 financial assets and liabilities measured on a recurring basis:



Changes in Fair Value of Level 3 Financial Assets and Liabilities Measured on a Recurring Basis (dollars in millions)






	Total
	(all derivatives)
31-Dec-14	$ (26.6)
Gains or losses realized/unrealized included in Other Income (1)	-0.5
31-Mar-15	$ (27.1)

31-Dec-13	$ (9.7)
Gains or losses realized/unrealized included in Other Income (1)	-1.7
31-Mar-14	$ (11.4)

	-1		Valuation of the derivatives related to the GSI facilities and written options on certain CIT Bank CDs.
Fair Values of Financial Instruments
The carrying and estimated fair values of financial instruments presented below exclude leases and certain other assets and liabilities, which are not required for disclosure.


Financial Instruments (dollars in millions)





		Estimated Fair Value
	Carrying
31-Mar-15	Value	Level 1	Level 2	Level 3	Total
Financial Assets
Derivative assets at fair value - non-qualifying hedges	$ 101.7	$ -	$ 101.7	$ -	$ 101.7
Derivative counterparty assets at fair value	97.7	-	97.7	-	97.7
Assets held for sale (excluding leases)	129.7	-	5.7	132.7	138.4
Loans (excluding leases)	14,217.0	-	1,639.0	12,301.9	13,940.9
Securities purchased under agreements to resell	450.0	-	450.4		450.4
Investment securities	1,347.4	227.0	996.2	132.2	1,355.4
Other assets subject to fair value disclosure and unsecured counterparty receivables (1)	906.7	-	-	906.7	906.7
Financial Liabilities
Deposits (2)	-16,809.20	-	-	-17,129.00	-17,129.00
Derivative liabilities at fair value - non-qualifying hedges	-66.6	-	-39.5	-27.1	-66.6
Derivative counterparty liabilities at fair value	-0.9	-	-0.9	-	-0.9
Long-term borrowings (2)	-16,778.80	-	-14,121.80	-3,189.10	-17,310.90
Credit balances of factoring clients	-1,505.30	-	-	-1,505.30	-1,505.30
Other liabilities subject to fair value disclosure (3)	-1,965.60	-	-	-1,965.60	-1,965.60

31-Dec-14
Financial Assets
Derivative assets at fair value - non-qualifying hedges	$ 93.3	$ -	$ 93.3	$ -	$ 93.3
Derivative counterparty assets at fair value	74.7	-	74.7	-	74.7
Assets held for sale (excluding leases)	67.0	-	-	67.2	67.2
Loans (excluding leases)	14,379.5	-	1,585.4	12,490.8	14,076.2
Securities purchased under agreements to resell	650.0	-	650.0	-	650.0
Investment securities	1,550.3	464.9	956.0	137.4	1,558.3
Other assets subject to fair value disclosure and unsecured counterparty receivables (1)	886.2	-	-	886.2	886.2
Financial Liabilities
Deposits (2)	-15,891.40	-	-	-16,105.70	-16,105.70
Derivative liabilities at fair value - non-qualifying hedges	-62.3	-	-35.7	-26.6	-62.3
Long-term borrowings (2)	-18,657.90	-	-15,906.30	-3,338.10	-19,244.40
Credit balances of factoring clients	-1,622.10	-	-	-1,622.10	-1,622.10
Other liabilities subject to fair value disclosure (3)	-2,066.80	-	-	-2,066.80	-2,066.80



	-1		Other assets subject to fair value disclosure primarily include accrued interest receivable and miscellaneous receivables. These assets have carrying values that approximate fair value generally due to the short-term nature and are classified as level 3. The unsecured counterparty receivables primarily consist of amounts owed to CIT from GSI for debt discount, return of collateral posted to GSI and settlements resulting from market value changes to asset-backed securities underlying the GSI Facilities
	-2		Deposits and long-term borrowings include accrued interest, which is included in "Other liabilities" in the Balance Sheet.
	-3		Other liabilities subject to fair value disclosure include accounts payable, accrued liabilities, customer security and maintenance deposits and miscellaneous liabilities. The fair value of these approximate carrying value and are classified as level 3.
Assumptions used to value financial instruments are set forth below:
Derivatives – The estimated fair values of derivatives were calculated internally using observable market data and represent the net amount receivable or payable to terminate, taking into account current market rates, which represent Level 2 inputs, except for the TRS derivative and written options on certain CIT Bank CDs that utilized Level 3 inputs. See Note 8 — Derivative Financial Instruments for notional principal amounts and fair values.
Assets held for sale – Assets held for sale are recorded at lower of cost or fair value on the balance sheet. Of the assets held for sale above, $3.7 million carrying amount at March 31, 2015 was valued using Level 2 inputs. As there is no liquid secondary market for the other assets held for sale in the Company’s portfolio, the fair value is estimated based on a binding contract, current letter of intent or other third-party valuation, or using internally generated valuations or discounted cash flow analysis, all of which are Level 3 inputs. Commercial loans are generally valued individually, while small-ticket commercial loans are valued on an aggregate portfolio basis.
Loans – Of the loan balance above, approximately $1.6 billion at both March 31, 2015 and December 31, 2014 was valued using Level 2 inputs. As there is no liquid secondary market for the other loans in the Company’s portfolio, the fair value is estimated based on discounted cash flow analyses which use Level 3 inputs at both March 31, 2015 and December 31, 2014. In addition to the characteristics of the underlying contracts, key inputs to the analysis include interest rates, prepayment rates, and credit spreads. For the commercial loan portfolio, the market based credit spread inputs are derived from instruments with comparable credit risk characteristics obtained from independent third party vendors. As these Level 3 unobservable inputs are specific to individual loans / collateral types, management does not believe that sensitivity analysis of individual inputs is meaningful, but rather that sensitivity is more meaningfully assessed through the evaluation of aggregate carrying values of the loans. The fair value of loans at March 31, 2015 was $13.9 billion, which is 98.1% of carrying value. The fair value of loans at December 31, 2014 was $14.1 billion, which is 97.9% of carrying value.
Impaired Loans – The value of impaired loans is estimated using the fair value of collateral (on an orderly liquidation basis) if the loan is collateralized, or the present value of expected cash flows utilizing the current market rate for such loan. As these Level 3 unobservable inputs are specific to individual loans / collateral types, management does not believe that sensitivity analysis of individual inputs is meaningful, but rather that sensitivity is more meaningfully assessed through the evaluation of aggregate carrying values of impaired loans relative to contractual amounts owed (unpaid principal balance or “UPB”) from customers.
As of March 31, 2015, the UPB related to impaired loans, including loans for which the Company is applying the income recognition and disclosure guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality), totaled $87.8 million. Including related allowances, these loans are carried at $53.0 million, or 60% of UPB. Of these amounts, $21.4 million and $17.1 million of UPB and carrying value, respectively, relate to loans with no specific allowance. As of December 31, 2014, the comparable UPB related to impaired loans totaled $85.3 million, and including related allowances, these loans were carried at $45.1 million, or 53% of UPB. Of these amounts, $29.2 million and $21.2 million of UPB and carrying value relate to loans with no specific allowance. The difference between UPB and carrying value reflects cumulative charge-offs on accounts remaining in process of collection, FSA discounts and allowances. See Note 3 - Loans for more information.
Securities purchased under agreements to resell – The estimated fair values of securities purchased under agreements to resell were calculated internally based on discounted cash flows that utilize observable market rates for the applicable maturity and which represent Level 2 inputs.
Investment Securities – Debt and equity securities classified as AFS are carried at fair value, as determined either by Level 1 or Level 2 inputs. Debt securities classified as AFS included investments in U.S. Treasury and federal government agency securities and were valued using Level 2 inputs, primarily quoted prices for similar securities. Certain equity securities classified as AFS were valued using Level 1 inputs, primarily quoted prices in active markets, while other equity securities used Level 2 inputs, due to being less frequently traded or having limited quoted market prices. Debt securities classified as HTM are securities that the Company has both the ability and the intent to hold until maturity and are carried at amortized cost and periodically assessed for OTTI, with the cost basis reduced when impairment is deemed to be other-than-temporary. Non-marketable equity investments are generally recorded under the cost or equity method of accounting and are periodically assessed for OTTI, with the net asset values reduced when impairment is deemed to be other-than-temporary. For investments in limited equity partnership interests, we use the net asset value provided by the fund manager as an appropriate measure of fair value.
Deposits – The fair value of deposits was estimated based upon a present value discounted cash flow analysis. Discount rates used in the present value calculation are based on the Company’s average current deposit rates for similar terms, which are Level 3 inputs.
Long-term borrowings – Unsecured debt of approximately $10.8 billion par value and secured borrowings of approximately $2.8 billion par value at March 31, 2015, and unsecured debt of approximately $12.0 billion par value and secured borrowings of approximately $3.3 billion par value at December 31, 2014 were valued using market inputs, which are Level 2 inputs. Where market estimates were not available for approximately $3.1 billion and $3.2 billion par value at March 31, 2015 and December 31, 2014, respectively, values were estimated using a discounted cash flow analysis with a discount rate approximating current market rates for issuances by CIT of similar debt, which are Level 3 inputs.

Regulatory_Capital

Regulatory Capital	3 Months Ended
Regulatory Capital	Mar. 31, 2015
Regulatory Capital [Abstract]
Regulatory Capital	NOTE 10 — REGULATORY CAPITAL
	The Company and the Bank are each subject to various regulatory capital requirements administered by the Federal Reserve Bank (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”).
	Quantitative measures established by regulation to ensure capital adequacy require that the Company and the Bank each maintain minimum amounts and ratios of Total and Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets, subject to any agreement with regulators to maintain higher capital levels. We compute capital ratios in accordance with Federal Reserve capital guidelines for assessing adequacy of capital. At March 31, 2015, the regulatory capital guidelines applicable to the Company were based on the Basel III Final Rule. At December 31, 2014, the regulatory capital guidelines that were applicable to the Company were based on the Capital Accord of the Basel Committee on Banking Supervision (Basel I).
	The calculation of the Company’s regulatory capital ratios are subject to review and consultation with the FRB, which may result in refinements to amounts reported at March 31, 2015.



	Tier 1 Capital and Total Capital Components (1) (dollars in millions)






		CIT		CIT Bank
		March 31,	December 31,	March 31,	December 31,
	Tier 1 Capital	2015	2014	2015	2014
	Total stockholders’ equity (2)	$ 8,758.6	$ 9,068.9	$ 2,748.1	$ 2,716.4
	Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interests	59.8	53.0	0.3	-0.2
	Adjusted total equity	8,818.4	9,121.9	2,748.4	2,716.2
	Less: Goodwill (3)	-482.8	-571.3	-167.9	-167.8
	Disallowed deferred tax assets	-358.3	-416.8	-	-
	Disallowed intangible assets (3)	-9.3	-25.7	-2.6	-12.1
	Investment in certain subsidiaries	NA	-36.7	NA	-
	Other Tier 1 components (4)	-	-4.1	-	-
	Common Equity Tier 1 Capital	7,968.0	8,067.3	2,577.9	2,536.3

	Tier 1 Capital	7,968.0	8,067.3	2,577.9	2,536.3
	Tier 2 Capital
	Qualifying allowance for credit losses and other reserves (5)	393.8	381.8	250.6	245.1
	Less: Investment in certain subsidiaries	NA	-36.7	-	-
	Other Tier 2 components (6)	0.1	-	0.1	0.1
	Total qualifying capital	$ 8,361.9	$ 8,412.4	$ 2,828.6	$ 2,781.5
	Risk-weighted assets	$ 56,059.5	$ 55,480.9	$ 19,982.0	$ 19,552.3
	Common Equity Tier 1 Capital (to risk-weighted assets):
	Actual	14.2%	NA	12.9%	NA
	Effective minimum ratios under Basel III guidelines (7)	7.00%	NA	7.00%	NA
	Total Capital (to risk-weighted assets):
	Actual	14.9%	15.2%	14.2%	14.2%
	Effective minimum ratios under Basel III guidelines (7)	10.5%	10.0%	10.5%	10.0%
	Tier 1 Capital (to risk-weighted assets):
	Actual	14.2%	14.5%	12.9%	13.0%
	Effective minimum ratios under Basel III guidelines (7)	8.5%	6.0%	8.5%	6.0%
	Tier 1 Leverage Ratio:
	Actual	17.2%	17.4%	12.1%	12.2%
	Required minimum Ratio for Capital Adequacy Purposes	4.0%	4.0%	4.0%	4.0%

	(1) The March 31, 2015 presentation reflects the risk-based capital guidelines under Basel III, which became effective on January 1, 2015. The December 31, 2014 reflects the risk-based capital guidelines under then effective Basel I.
	(2) See Consolidated Balance Sheets for the components of Total stockholders’ equity.
	(3) Goodwill and disallowed intangible assets adjustments also reflect the portion included within assets held for sale.
	(4) Includes the Tier 1 capital charge for nonfinancial equity investments and the Tier 1 capital deduction for net unrealized losses on available-for-sale marketable securities (net of tax).
	(5) “Other reserves” represents additional credit loss reserves for unfunded lending commitments, letters of credit, and deferred purchase agreements, all of which are recorded in Other Liabilities.
	(6) Banking organizations are permitted to include in Tier 2 Capital up to 45% of net unrealized pretax gains on available-for-sale equity securities with readily determinable fair values.
	(7) Required ratios under the fully phased-in Basel III Final Rule and include the post-transition minimum capital conservation buffer effective January 1, 2019.
	NA - Balance is not applicable under the respective guidelines








	Effective January 1, 2015, CIT became subject to the risk-based capital guidelines that are based upon the Basel Committee’s final framework for strengthening capital and liquidity regulation, Basel III. The Company had been subject to the guidelines under Basel I. As it currently applies to CIT, the Basel III Final Rule: (i) introduces a new capital measure called “Common Equity Tier 1” (“CET1”) and related regulatory capital ratio of CET1 to risk-weighted assets; (ii) specifies that Tier 1 capital consists of CET1 and “Additional Tier 1 capital” instruments meeting certain revised requirements; (iii) mandates that most deductions/adjustments to regulatory capital measures be made to CET1 and not to the other components of capital; and (iv) expands the scope of the deductions from and adjustments to capital as compared to existing regulations.
The Basel III Final Rule also prescribed a new approach for risk weightings that follow the Standardized approach, which applies to CIT. This approach expands the risk-weighting categories from the former four Basel I-derived categories ( 0%, 20%, 50% and 100%) to a larger and more risk-sensitive number of categories, depending on the nature of the exposure, (ranging from 0% for U.S. government and agency securities, to as high as 1,250% for such exposures as credit-enhancing interest-only strips or unsettled security/commodity transactions). Finally, the Basel III Final Rule established new minimum capital ratios for CET1, Tier 1 capital, and Total capital of 4.5%, 6.0% and 8.0%, respectively, which are currently applicable and do not include the capital conservation buffer amounts that phase in beginning in 2016.
The Basel III Final Rule also introduced a new “capital conservation buffer”, composed entirely of CET1, on top of these minimum risk-weighted asset ratios, The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of CET1 to risk-weighted assets above the minimum but below the capital conservation buffer will face constraints on dividends, equity repurchases and compensation based on the amount of the shortfall. This buffer will be implemented beginning January 1, 2016 at the 0.625% level and increase by 0.625% on each subsequent January 1, until it reaches 2.5% on January 1, 2019. Based on our current capital structure, the overall impact on the capital ratios for CIT and the Bank is expected to be minimal.

Income_Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2015
Income Taxes [Abstract]
Income Taxes	NOTE 11 — INCOME TAXES
	The Company’s global effective income tax rate for the first quarter was 29.8%, up from 11.3% in the year-ago quarter, primarily due to the impact of recognizing U.S. federal and state income taxes on its domestic earnings. The first quarter of 2015’s tax provision reflected federal and state income taxes in the U.S. as well as taxes on earnings of certain international operations. Due to the partial release of the domestic valuation allowance on net deferred tax assets in 2014, the 2015 effective income tax rate of approximately 30% includes the recognition of U.S. federal and state income taxes.
	The quarterly income tax expense will include the impact of the continuous re-assessment of the estimated annual effective tax rate, which is then applied to the interim consolidated pre-tax income to determine the interim provision for income taxes. The change in the effective tax rate each period is impacted by a number of factors, including the relative mix of domestic and international earnings, adjustments to the valuation allowances, and discrete items. The actual year-end 2015 effective tax rate may vary from the currently projected tax rate due to changes in these factors.
	As of December 31, 2014, CIT had cumulative U.S. federal net operating loss carry-forwards (“NOLs”) of $5.7 billion, of which $3.0 billion was related to pre-emergence losses. These NOLs will expire between 2027 and 2033. The Company generated a modest amount of domestic taxable income in the first quarter, which marginally decreased the U.S. federal net operating loss carry-forwards. Pursuant to Section 382 of the Internal Revenue Code, the Company is generally subject to a $264.7 million annual limitation on the use of its $3.0 billion of pre-emergence NOLs, of which approximately $1.0 billion is no longer subject to the limitation. NOLs arising in post-emergence years are not subject to this limitation absent an ownership change as defined by the Internal Revenue Service (IRS) for U.S. tax purposes.
	As noted in our 2014 Annual Report on Form 10-K, management concluded that it was more likely than not that the Company will generate sufficient taxable income based on management’s long-term forecast of future U.S. taxable income within the applicable carry-forward periods to support partial utilization of the U.S. federal and U.S. state NOLs. The forecast of future taxable income for the Company reflects a long-term view of growth and returns that management believes is more likely than not of being realized.
	However, the Company retained a valuation allowance of $1.0 billion against its U.S. net deferred tax assets at December 31, 2014. Of the $1.0 billion domestic valuation allowance, approximately $0.7 billion is against the deferred tax asset on the U.S. federal NOLs and $0.3 billion is against the deferred tax asset on the U.S. state NOLs. No discrete reduction to the valuation allowance related to the U.S. federal or state NOLs or the capital loss carry-forwards was recorded in the quarter.
	The ability to recognize the remaining valuation allowances against the U.S. federal and state NOLs, and capital loss carry-forwards net deferred tax assets will be evaluated on a quarterly basis to determine if there are any significant events that would affect our ability to utilize these deferred tax assets. If events are identified that affect our ability to utilize our deferred tax assets, the analysis will be updated to determine if any adjustments to the valuation allowances are required. Such events may include acquisitions that support the Company’s long-term business strategies while also enabling it to accelerate the utilization of its net operating losses, as evidenced by the acquisition of Direct Capital Corporation and the announced definitive agreement and plan of merger to acquire OneWest Bank.
	The impact of the OneWest transaction on the utilization of the Company’s NOLs cannot be considered in the Company’s forecast of future taxable income until the acquisition is consummated. The acquisition is expected to accelerate the utilization of the Company’s NOLs and therefore management anticipates it will reverse the remaining U.S. federal valuation allowance after consummation of the acquisition. The Company is currently evaluating the impact of the acquisition on the U.S. state NOLs and expects the acquisition to utilize some portion of these amounts which would cause a partial reduction to the U.S. state valuation allowance.
	The Company maintained a valuation allowance of $141 million against certain international reporting entities’ net deferred tax assets at December 31, 2014. In the evaluation process related to the net deferred tax assets of the Company’s foreign reporting entities, uncertainties surrounding the international business plans, the recent international platform rationalizations, and the “cumulative losses in recent years” have made it challenging to reliably project future taxable income. The primary inputs for the forecast of future taxable income will continue to be identified as the business plans for the international operations evolve, and potential tax planning strategies are identified. Thus, as of this reporting period, the negative evidence continues to outweigh the positive evidence, and the Company continues to maintain a full valuation allowance on these entities’ net deferred tax assets.
	Liabilities for Uncertain Tax Positions
	The Company’s potential liability for uncertain tax positions totaled $49.4 million at March 31, 2015 and $53.7 million at December 31, 2014. Management estimates that this liability may be reduced by up to $15 million within the next twelve months. The Company’s accrued liability for interest and penalties totaled $12.7 million at March 31, 2015 and $13.3 million at December 31, 2014. The Company recognizes accrued interest and penalties on unrecognized tax benefits in income tax expense.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2015
Stockholders' Equity [Abstract]
Stockholders' Equity	NOTE 12 — STOCKHOLDERS’ EQUITY
	Accumulated Other Comprehensive Income/(Loss)
	The following table details the components of Accumulated Other Comprehensive Loss, net of tax:


	Components of Accumulated Other Comprehensive Income (Loss) (dollars in millions)






		31-Mar-15				31-Dec-14
		Gross Unrealized	Income Taxes	Net Unrealized		Gross Unrealized	Income Taxes	Net Unrealized
	Foreign currency translation adjustments	$ (84.7)	$ (19.1)	$ (103.8)		$ (75.4)	$ -	$ (75.4)
	Changes in benefit plan net gain (loss) and prior service (cost)/credit	-59.4	0.5	-58.9		-58.7	0.2	-58.5
	Unrealized net gains (losses) on available for sale securities	-0.6	0.2	-0.4		-	-	-
	Total accumulated other comprehensive loss	$ (144.7)	$ (18.4)	$ (163.1)		$ (134.1)	$ 0.2	$ (133.9)

	The following table details the changes in the components of Accumulated Other Comprehensive Income (Loss), net of income taxes:

	Changes in Accumulated Other Comprehensive Loss by Component (dollars in millions)

			Foreign currency translation adjustments		Changes in benefit plan net gain (loss) and prior service (cost) credit		Changes in fair values of derivatives qualifying as cash flow hedges		Unrealized net gains (losses) on available for sale securities	Total AOCI
	Balance as of December 31, 2014		$ (75.4)		$ (58.5)		$ -		$ -	$ (133.9)

	AOCI activity before reclassifications		-31.9		-0.4		-		-0.4	-32.7
	Amounts reclassified from AOCI		3.5		-		-		-	3.5
	Net current period AOCI		-28.4		-0.4		-		-0.4	-29.2

	Balance as of March 31, 2015		$ (103.8)		$ (58.9)		$ -		$ (0.4)	$ (163.1)

	Balance as of December 31, 2013		$ (49.4)		$ (24.1)		$ (0.2)		$ 0.1	$ (73.6)

	AOCI activity before reclassifications		-6.2		-		-		0.3	-5.9
	Amounts reclassified from AOCI		1.9		1.6		-		-	3.5
	Net current period AOCI		-4.3		1.6		-		0.3	-2.4

	Balance as of March 31, 2014		$ (53.7)		$ (22.5)		$ (0.2)		$ 0.4	$ (76.0)

	Other Comprehensive Income/(Loss)
	The amounts included in the Statement of Comprehensive Income (Loss) are net of income taxes.
	Foreign currency translation reclassification adjustments impacting net income were $3.5 million and $1.9 million for the quarters ended March 31, 2015 and March 31, 2014. The change in income taxes associated with foreign currency translation adjustments was approximately $(19.1) million for the quarter ended March 31, 2015 and there were no income taxes associated with foreign currency translation adjustments in the prior year period.
	The changes in benefit plans net gain/(loss) and prior service (cost)/credit reclassification adjustments impacting net income was insignificant for the quarter ended March 31, 2015 and was $1.6 million for the quarter ended March 31, 2014. The change in income taxes associated with changes in benefit plans net gain/(loss) and prior service (cost)/credit was approximately $0.3 million for the quarter ended March 31, 2015 and was not significant for the prior year quarter.
	There were no reclassification adjustments impacting net income related to changes in fair value of derivatives qualifying as cash flow hedges for the quarters ended March 31, 2015 and March 31, 2014. There were no income taxes associated with changes in fair values of derivatives qualifying as cash flow hedges for the quarters ended March 31, 2015 and March 31, 2014.
	There were no reclassification adjustments impacting net income for unrealized gains (losses) on available for sale securities for the quarters ended March 31, 2015 and 2014. The change in income taxes associated with net unrealized gains on available for sale securities was approximately $0.2 million for the quarter ended March 31, 2015 and $(0.1) million for the quarter ended March 31, 2014.
	The Company has operations in Canada and other countries. The functional currency for foreign operations is generally the local currency. The value of assets and liabilities of these operations is translated into U.S. dollars at the rate of exchange in effect at the balance sheet date. Revenue and expense items are translated at the average exchange rates during the year. The resulting foreign currency translation gains and losses, as well as offsetting gains and losses on hedges of net investments in foreign operations, are reflected in AOCI. Transaction gains and losses resulting from exchange rate changes on transactions denominated in currencies other than the functional currency are recorded in Other Income.

	Reclassifications out of Accumulated Other Comprehensive Income (dollars in millions)


			Quarters Ended March 31,
			2015				2014			Affected Income Statement line item
			Gross Amount	Tax	Net Amount		Gross Amount	Tax	Net Amount
	Foreign currency translation adjustments gains (losses)		3.5	-	3.5		1.9	-	1.9	Operating Expenses
	Changes in benefit plan net gain/(loss) and prior service (cost)/credit gains (losses)		-	-	-		1.6	-	1.6	Other Income
	Changes in fair value of derivatives qualifying as cash flow hedges gains (losses)		-	-	-		-	-	-	Other Income
	Unrealized net gains (losses) on available for sale securities		-	-	-		-	-	-	Other Income
	Total Reclassifications out of AOCI		3.5	-	3.5		3.5	-	3.5

Commitments

Commitments	3 Months Ended
Commitments	Mar. 31, 2015
Commitments [Abstract]
Commitments	NOTE 13 — COMMITMENTS
	The accompanying table summarizes ccredit-related commitments , as well as purchase and funding commitments.


	Commitments (dollars in millions)





		31-Mar-15			December 31,
		Due to Expire			2014
		Within	After	Total	Total
		One Year	One Year	Outstanding	Outstanding
	Financing Commitments
	Financing assets	$ 1,200.2	$ 3,937.5	$ 5,137.7	$ 4,747.9
	Letters of credit
	Standby letters of credit	20.3	319.9	340.2	360.1
	Other letters of credit	26.2	-	26.2	28.3
	Guarantees
	Deferred purchase agreements	1,643.7	-	1,643.7	1,854.4
	Guarantees, acceptances and other recourse obligations	1.1	-	1.1	2.8
	Purchase and Funding Commitments
	Aerospace manufacturer purchase commitments	919.8	9,918.6	10,838.4	10,820.4
	Rail and other manufacturer purchase commitments	1,126.7	502.8	1,629.5	1,323.2


	Financing Commitments
	Financing commitments, referred to as loan commitments or lines of credit, reflect CIT’s agreements to lend to its customers, subject to the customers’ compliance with contractual obligations. Included in the table above are commitments that have been extended to and accepted by customers, clients or agents, but on which the criteria for funding have not been completed of $799 million at March 31, 2015 and $355 million at December 31, 2014. Financing commitments also include credit line agreements to Commercial Services clients that are cancellable by us only after a notice period. The notice period is typically 90 days or less. The amount available under these credit lines, net of the amount of receivables assigned to us, was $275 million at March 31, 2015 and $112 million at December 31, 2014. As financing commitments may not be fully drawn, may expire unused, may be reduced or cancelled at the customer’s request, and may require the customer to be in compliance with certain conditions, total commitment amounts do not necessarily reflect actual future cash flow requirements.
	The table above includes approximately $1.4 billion of undrawn financing commitments at March 31, 2015 and $1.3 billion at December 31, 2014 for instances where the customer is not in compliance with contractual obligations, and therefore CIT does not have the contractual obligation to lend.
	At March 31, 2015, substantially all undrawn financing commitments were senior facilities. Most of the Company’s undrawn and available financing commitments are in the Corporate Finance division of NACF.
	The table above excludes uncommitted revolving credit facilities extended by Commercial Services to its clients for working capital purposes. In connection with these facilities, Commercial Services has the sole discretion throughout the duration of these facilities to determine the amount of credit that may be made available to its clients at any time and whether to honor any specific advance requests made by its clients under these credit facilities.
	Letters of Credit
	In the normal course of meeting the needs of clients, CIT sometimes enters into agreements to provide financing and letters of credit. Standby letters of credit obligate the issuer of the letter of credit to pay the beneficiary if a client on whose behalf the letter of credit was issued does not meet its obligation. These financial instruments generate fees and involve, to varying degrees, elements of credit risk in excess of amounts recognized in the Consolidated Balance Sheets. To minimize potential credit risk, CIT generally requires collateral and in some cases additional forms of credit support from the client.
	Deferred Purchase Agreements
	A Deferred Purchase Agreement (“DPA”) is provided in conjunction with factoring, whereby CIT provides a client with credit protection for trade receivables without purchasing the receivables. The trade receivable terms are generally sixty days or less. If the client’s customer is unable to pay an undisputed receivable solely as the result of credit risk, then CIT purchases the receivable from the client. The outstanding amount in the table above is the maximum potential exposure that CIT would be required to pay under all DPAs. This maximum amount would only occur if all receivables subject to DPAs default in the manner described above, thereby requiring CIT to purchase all such receivables from the DPA clients.
	The table above includes $1,562 million and $1,775 million of DPA credit protection at March 31, 2015 and December 31, 2014, respectively, related to receivables which have been presented to us for credit protection after shipment of goods has occurred and the customer has been invoiced. The table also includes $82 million and $79 million available under DPA credit line agreements, net of amount of DPA credit protection provided at March 31, 2015 and December 31, 2014, respectively. The DPA credit line agreements specify a contractually committed amount of DPA credit protection and are cancellable by us only after a notice period. The notice period is typically 90 days or less.
	The methodology used to determine the DPA liability is similar to the methodology used to determine the allowance for loan losses associated with the finance receivables, which reflects embedded losses based on various factors, including expected losses reflecting the Company’s internal customer and facility credit ratings. The liability recorded in Other Liabilities related to the DPAs totaled $4.9 million and $5.2 million at March 31, 2015 and December 31, 2014, respectively.
	Purchase and Funding Commitments
	CIT’s purchase commitments relate primarily to purchases of commercial aircraft and rail equipment. Commitments to purchase new commercial aircraft are predominantly with Airbus Industries (“Airbus”), The Boeing Company (“Boeing”), and Embraer S.A. (“Embraer”). CIT may also commit to purchase an aircraft directly from an airline. Aerospace equipment purchases are contracted for specific models, using baseline aircraft specifications at fixed prices, which reflect discounts from fair market purchase prices prevailing at the time of commitment. The delivery price of an aircraft may change depending on final specifications. Equipment purchases are recorded at the delivery date. The estimated commitment amounts in the preceding table are based on contracted purchase prices reduced for pre-delivery payments to date and exclude buyer furnished equipment selected by the lessee. Pursuant to existing contractual commitments, 154 aircraft remain to be purchased from Airbus, Boeing and Embraer at March 31, 2015. Aircraft deliveries are scheduled periodically through 2020. Commitments exclude unexercised options to order additional aircraft. Aerospace purchase commitments also include $0.2 billion of equipment to be purchased in 2015 pursuant to sale and lease-back agreements with airlines.
	The Company’s rail business entered into commitments to purchase railcars from multiple manufacturers. At March 31, 2015, approximately 12,400 railcars remain to be purchased from manufacturers with deliveries through 2017. Rail equipment purchase commitments are at fixed prices subject to price increases for certain materials.

	Other vendor purchase commitments primarily relate to Equipment Finance.
	.

Contingencies

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2015
Contingencies [Abstract]
Contingencies	NOTE 14 — CONTINGENCIES
	Litigation
	CIT is currently involved, and from time to time in the future may be involved, in a number of judicial, regulatory, and arbitration proceedings relating to matters that arise in connection with the conduct of its business (collectively, “Litigation”). In view of the inherent difficulty of predicting the outcome of Litigation matters, particularly when such matters are in their early stages or where the claimants seek indeterminate damages, CIT cannot state with confidence what the eventual outcome of the pending Litigation will be, what the timing of the ultimate resolution of these matters will be, or what the eventual loss, fines, or penalties related to each pending matter will be, if any. In accordance with applicable accounting guidance, CIT establishes reserves for Litigation when those matters present loss contingencies as to which it is both probable that a loss will occur and the amount of such loss can be reasonably estimated. Based on currently available information, CIT believes that the results of Litigation that is currently pending, taken together, will not have a material adverse effect on the Company’s financial condition, but may be material to the Company’s operating results or cash flows for any particular period, depending in part on its operating results for that period. The actual results of resolving such matters may be substantially higher than the amounts reserved.
	For certain Litigation matters in which the Company is involved, the Company is able to estimate a range of reasonably possible losses in excess of established reserves and insurance. For other matters for which a loss is probable or reasonably possible, such an estimate cannot be determined. For Litigation where losses are reasonably possible, management currently estimates the aggregate range of reasonably possible losses as up to $80 million in excess of established reserves and insurance related to those matters, if any. This estimate represents reasonably possible losses (in excess of established reserves and insurance) over the life of such Litigation, which may span a currently indeterminable number of years, and is based on information currently available as of March 31, 2015. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from this estimate.

	Those Litigation matters for which an estimate is not reasonably possible or as to which a loss does not appear to be reasonably possible, based on current information, are not included within this estimated range and, therefore, this estimated range does not represent the Company’s maximum loss exposure.
	The foregoing statements about CIT’s Litigation are based on the Company’s judgments, assumptions, and estimates and are necessarily subjective and uncertain. Several of the Company’s Litigation matters are described below.
	Lac-Mégantic, Quebec Derailment
	On July 6, 2013, a freight train including five locomotives and seventy-two tank cars carrying crude oil derailed in the town of Lac-Mégantic, Quebec. Nine of the tank cars were owned by The CIT Group/Equipment Financing, Inc. (“CIT/EF”) (a wholly-owned subsidiary of the Company) and leased to Western Petroleum Company (“WPC”), a subsidiary of World Fuel Services Corp. (“WFS”). Two of the locomotives are owned by CIT/EF and were leased to Montreal, Maine & Atlantic Railway, Ltd. (“MMA”), the railroad operating the freight train at the time of the derailment, a subsidiary of Rail World, Inc.
	The derailment was followed by explosions and fire, which resulted in the deaths of over forty people and an unknown number of injuries, the destruction of more than thirty buildings in Lac-Mégantic, and the release of crude oil on land and into the Chaudière River. The extent of the property and environmental damage has not yet been determined. Twenty lawsuits have been filed in Illinois by representatives of the deceased in connection with the derailment. The Company is named as a defendant in seven of the Illinois lawsuits, together with 13 other defendants, including WPC, MMA (who has since been dismissed without prejudice as a result of its chapter 11 bankruptcy filing on August 7, 2013), and the lessors of the other locomotives and tank cars. Liability could be joint and several among some or all of the defendants. All but two of these cases have been consolidated in the U.S. District Court in the Northern District of Illinois and transferred to the U.S. District Court in Maine. The Company has been named as an additional defendant in a pending class action in the Superior Court of Quebec, Canada. Other cases may be filed in U.S. and Canadian courts. The plaintiffs in the pending U.S. and Canadian actions assert claims of negligence and strict liability based upon alleged design defect against the Company in connection with the CIT/EF tank cars. The Company has rights of indemnification and defense against its lessees, WPC and MMA (a debtor in bankruptcy), and also has rights as an additional insured under liability coverage maintained by the lessees. On July 28, 2014, the Company commenced a lawsuit against WPC in the U.S. District Court in the District of Minnesota to enforce its rights of indemnification and defense. In addition to its indemnification and insurance rights against its lessees, the Company and its subsidiaries maintain contingent and general liability insurance for claims of this nature, and the Company and its insurers are working cooperatively with respect to these claims.
	The Lac-Mégantic derailment triggered a number of regulatory investigations and actions. The Transportation Safety Board of Canada issued its final report on the cause(s) of the derailment in September 2014. In addition, Quebec’s Environment Ministry has issued an order to WFS, WPC, MMA, and Canadian Pacific Railway (which allegedly subcontracted with MMA) to pay for the full cost of environmental clean-up and damage assessment related to the derailment.
	The Company is vigorously defending the claims that have been asserted, including pursuing its rights under indemnification agreements and insurance policies. MMA’s U.S. bankruptcy trustee, together with its Canadian bankruptcy monitor, is engaged in negotiations in pursuit of a global or close to global settlement with the various parties in the various pending lawsuits. CIT has entered into a settlement with the MMA U.S. bankruptcy trustee, which settlement remains subject to court approval in Canada and the U.S. The settlement will not have a material adverse effect on the Company’s financial condition or results of operations.
	BRAZILIAN TAX MATTERS
	Banco Commercial Investment Trust do Brasil S.A. (“Banco CIT”), CIT’s Brazilian bank subsidiary, is pursuing a number of tax appeals relating to disputed local tax assessments on leasing services and importation of equipment. The disputes primarily involve questions of whether the correct taxing authorities were paid and whether the proper tax rate was applied.
	ISS Tax Appeals
	Notices of infraction were received relating to the payment of Imposto sobre Serviços (“ISS”), charged by municipalities in connection with services. The Brazilian municipalities of Itu and Cascavel claim that Banco CIT should have paid them ISS tax on leasing services for tax years 2006 - 2011. Instead, Banco CIT paid the ISS tax to Barueri, the municipality in which it is domiciled in São Paulo, Brazil. The disputed issue is whether the ISS tax should be paid to the municipality in which the leasing company is located or the municipality in which the services were rendered or the customer is located. One of the pending ISS tax matters was resolved in favor of Banco CIT in April 2014. The amounts claimed by the taxing authorities of Itu and Cascavel collectively for open tax assessments and penalties are approximately 507,000 Reais (approximately $159,000). Favorable legal precedent in a similar tax appeal has been issued by Brazil’s highest court resolving the conflict between municipalities.
	ICMS Tax Appeals
	Notices of infraction were received relating to the payment of Imposto sobre Circulaco de Mercadorias e Servicos (“ICMS”) taxes charged by states in connection with the importation of equipment. The state of São Paulo claims that Banco CIT should have paid it ICMS tax for tax years 2006-2009 because Banco CIT, the purchaser, is located in São Paulo. Instead, Banco CIT paid ICMS tax to the states of Espirito Santa Caterina, and Alagoas, where the imported equipment arrived. A recent regulation issued by São Paulo in December 2013 reaffirms a 2009 agreement by São Paulo to conditionally recognize ICMS tax payments made to Espirito Santo. One of the pending notices of infraction against Banco CIT related to taxes paid to Espirito Santo was extinguished in May 2014. Another assessment related to taxes paid to Espirito Santo in the amount of 64.2 million Reais ($20.1 million) was upheld in a ruling issued by the administrative court in May 2014 . That ruling has been appealed. Petitions seeking recognition of the taxes paid to Espirito Santo have been filed with respect to the pending notices of infraction. Petitions were filed in a general amnesty program regarding all but one of the assessments related to taxes paid to Santa Caterina and Alagoas. Those petitions have resulted in the extinguishment of all but one of the Santa Caterina and Alagoas assessments. The amounts claimed by São Paulo collectively for open tax assessments and penalties are approximately 70.1 million Reais (approximately $21.9 million) for goods imported into the state of Espirito Santo from 2006 – 2009 and the state of Alagoas in 2008.
	A notice of infraction was received relating to São Paulo’s challenge of the ICMS tax rate paid by Banco CIT for tax years 2004 – 2007. São Paulo alleges that Banco CIT paid a lower rate of ICMS tax on imported equipment than was required (8.8% instead of 18%). Banco CIT challenged the notice of infraction and was partially successful based upon the type of equipment imported. Banco CIT has commenced a judicial proceeding challenging the unfavorable portion of the administrative ruling. The amount claimed by São Paulo for tax assessments and penalties is approximately 4 million Reais (approximately $1.3 million).
	The current potential aggregate exposure in taxes, fines and interest for the ISS and the ICMS tax matters is approximately 74.6 million Reais (approximately $23.3 million).

Business_Segment_Information

Business Segment Information	3 Months Ended
Business Segment Information	Mar. 31, 2015
Business Segment Information [Abstract]
Business Segment Information	NOTE 15 — BUSINESS SEGMENT INFORMATION
	Management’s Policy in Identifying Reportable Segments
	CIT’s reportable segments are comprised of divisions that are aggregated into segments primarily based upon industry categories, geography, target markets and customers served, and, to a lesser extent, the core competencies relating to product origination, distribution methods, operations and servicing and the nature of their regulatory environment. This segment reporting is consistent with the presentation of financial information to management.
	Types of Products and Services
	TIF offers secured lending and leasing products to midsize and larger companies across the aerospace, rail and maritime industries, as well as international finance, which includes corporate lending and equipment financing businesses in China. Revenues generated by TIF include rents collected on leased assets, interest on loans, fees, and gains from assets sold.
	NACF offers secured lending as well as other financial products and services predominately to small and midsize companies in the U.S. and Canada. These include secured revolving lines of credit and term loans, leases, accounts receivable credit protection, accounts receivable collection, import and export financing, factoring, debtor-in-possession and turnaround financing and receivable advisory services. Revenues generated by NACF include interest earned on loans, rents collected on leased assets, fees and other revenue from leasing activities and capital markets transactions, and commissions earned on factoring and related activities.
	NSP consists of portfolios that we no longer consider strategic. At March 31, 2015 these consisted primarily of equipment financing portfolios in Mexico and Brazil, both of which were under separate contracts of sale.
	Segment Profit and Assets
	Certain activities are not attributed to operating segments and are included in Corporate & Other. Some of the more significant items include loss on debt extinguishments, costs associated with excess cash liquidity (Interest Expense), mark-to-market adjustments on non-qualifying derivatives (Other Income) and restructuring charges for severance and facilities exit activities (Operating Expenses).


	Segment Pre-tax Income (Loss) (dollars in millions)




		Transportation & International	North American	Non-Strategic	Corporate &	Total
		Finance	Commercial Finance	Portfolios	Other	CIT
	For the quarter ended March 31, 2015
	Interest income	$ 68.4	$ 196.1	$ 12.3	$ 4.2	$ 281.0
	Interest expense	-168.6	-74.1	-10.8	-17.8	-271.3
	Provision for credit losses	-10.6	-24	-	-	-34.6
	Rental income on operating leases	497.5	27.2	5.9	-	530.6
	Other income	34.3	66.3	-7.8	-6.4	86.4
	Depreciation on operating lease equipment	-136.1	-20.7	-	-	-156.8
	Maintenance and other operating lease expenses	-46.1	-	-	-	-46.1
	Operating expenses	-81.8	-134.7	-12.4	-12.7	-241.6
	Income (loss) from continuing operations before (provision) benefit for income taxes	$ 157.0	$ 36.1	$ (12.8)	$ (32.7)	$ 147.6
	Select Period End Balances
	Loans	$ 3,568.5	$ 15,860.8	$ -	$ -	$ 19,429.3
	Credit balances of factoring clients	-	-1,505.30	-	-	-1,505.30
	Assets held for sale	634.5	87.5	329.9	-	1,051.9
	Operating lease equipment, net	14,623.3	264.5	-	-	14,887.8
	For the quarter ended March 31, 2014
	Interest income	$ 76.7	$ 193.4	$ 28.4	$ 3.7	$ 302.2
	Interest expense	-160.7	-68.9	-24.9	-17.4	-271.9
	Provision for credit losses	-12.4	-23.2	-1	-0.1	-36.7
	Rental income on operating leases	459.6	22.8	9.5	-	491.9
	Other income	7.2	61.8	4.4	-2.3	71.1
	Depreciation on operating lease equipment	-121.7	-21.9	-5.2	-	-148.8
	Maintenance and other operating lease expenses	-51.6	-	-	-	-51.6
	Operating expenses	-79.5	-121.5	-19.2	-13.3	-233.5

	Income (loss) before benefit (provision) for income taxes	$ 117.6	$ 42.5	$ (8.0)	$ (29.4)	$ 122.7
	Select Period End Balances
	Loans	$ 3,553.5	$ 14,902.8	$ 115.4	$ -	$ 18,571.7
	Credit balances of factoring clients	-	-1,213.50	-	-	-1,213.50
	Assets held for sale	92.6	67.0	959.8	-	1,119.4
	Operating lease equipment, net	13,926.9	210.1	45.4	-	14,182.4

Business_And_Summary_Of_Signif1

Business And Summary Of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2015
Business And Summary Of Significant Accounting Policies [Abstract]
Principles Of Consolidation	Principles of Consolidation
	The accompanying consolidated financial statements include financial information related to CIT Group Inc. and its majority-owned subsidiaries and those variable interest entities (“VIEs”) where the Company is the primary beneficiary.
	In preparing the consolidated financial statements, all significant inter-company accounts and transactions have been eliminated. Assets held in an agency or fiduciary capacity are not included in the consolidated financial statements.
	These consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial information and accordingly, do not include all information and note disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. The financial statements in this Form 10-Q have not been audited by an independent registered public accounting firm in accordance with standards of the Public Company Accounting Oversight Board (U.S.), but in the opinion of management include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of CIT’s financial position, results of operations and cash flows in accordance with GAAP. These consolidated financial statements should be read in conjunction with our current Form 10-K on file.
	The accounting and financial reporting policies of CIT Group Inc. conform to GAAP and the preparation of the consolidated financial statements requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates and assumptions. Some of the more significant estimates include: allowance for loan losses, loan impairment, fair value determination, lease residual values, liabilities for uncertain tax positions, realizability of deferred tax assets and goodwill assets. Additionally where applicable, the policies conform to accounting and reporting guidelines prescribed by bank regulatory authorities.

	Discontinued Operation
	On April 25, 2014, the Company completed the sale of its student lending business. As a result, the student lending business is reported as a discontinued operation for all periods. The business had been included in the Non-Strategic Portfolios segment and consisted of a portfolio of U.S. Government-guaranteed student loans. The portfolio was in run-off and had been transferred to assets held for sale (“AHFS”) at the end of 2013. See Note 2 – Discontinued Operation.
	Revision
	In preparing the financial statements for the quarter ended March 31, 2015, the Company discovered and corrected an immaterial error impacting the disclosure of unearned income in the amount of approximately $170 million as of December 31, 2014.



New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS
	Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement
	The FASB issued an amendment to U.S. GAAP on April 15, 2015, to explain how businesses and other organizations should account for the fees for purchasing cloud computing services. The changes in Accounting Standards Update (“ASU”) No. 2015-05, Intangibles: Goodwill and Other: Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement, add to the guidance for intangible assets to help businesses and other organizations determine whether a cloud computing agreement includes a software license or should be considered as a service agreement.
	The amendments to FASB ASC 350-40, Intangibles: Goodwill and Other: Internal-Use Software: Scope and Scope Exceptions, formerly AICPA Statement of Position (“SOP”) No. 98-1, state that the portion of a cloud computing agreement that includes a software license should be accounted for in a manner that is consistent with other software licenses. An arrangement that does not include a software license should be accounted for as a service contract.
	Public companies have to apply the amendment for fiscal years that start after December 15, 2015. Companies will have to apply the changes in their first-quarter reports for 2016, but can elect to early adopt ahead of the effective date. CIT is currently evaluating the impact of adopting this ASU.
	Debt Issuance Costs
	On April 7, 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount.
	Debt issuance costs are specific incremental costs, other than those paid to the lender, that are directly attributable to issuing a debt instrument (i.e., third party costs). Prior to the issuance of the standard, debt issuance costs were required to be presented in the balance sheet as a deferred charge (i.e., an asset).
	For public business entities, the standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. For all other entities, the standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. Early adoption is permitted for financial statements that have not been previously issued. The new guidance will be applied on a retrospective basis. The adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures.
	Amendments to the Consolidation Analysis
	The FASB issued ASU 2015-02, Amendments to the Consolidation Analysis, in February 2015 to improve targeted areas of the consolidation standard and reduce the number of consolidation models. The new guidance changes the way reporting enterprises evaluate whether (a) they should consolidate limited partnerships and similar entities, (b) fees paid to a decision maker or service provider are variable interests in a variable interest entity (“VIE”), and (c) variable interests in a VIE held by related parties of the reporting enterprise require the reporting enterprise to consolidate the VIE. It also eliminates the VIE consolidation model based on majority exposure to variability that applied to certain investment companies and similar entities.

	The Board changed the way the voting rights characteristic in the VIE scope determination is evaluated for corporations, which may significantly impact entities for which decision making rights are conveyed though a contractual arrangement.

	Under ASU 2015-02:
		·		More limited partnerships and similar entities will be evaluated for consolidation under the revised consolidation requirements that apply to VIEs.
		·		Fees paid to a decision maker or service provider are less likely to be considered a variable interest in a VIE.
		·		Variable interests in a VIE held by related parties of a reporting enterprise are less likely to require the reporting enterprise to consolidate the VIE.
		·		There is a new approach for determining whether equity at-risk holders of entities that are not similar to limited partnerships have power to direct the entity’s key activities when the entity has an outsourced manager whose fee is a variable interest.
		·		The deferral of consolidation requirements for certain investment companies and similar entities of the VIE in ASU 2009-17 is eliminated.

	The anticipated impacts of the new update include:
		·		A new consolidation analysis is required for VIEs, including many limited partnerships and similar entities that previously were not considered VIEs.
		·		It is less likely that the general partner or managing member of limited partnerships and similar entities will be required to consolidate the entity when the other investors in the entity lack both participating rights and kick-out rights.
		·		Limited partnerships and similar entities that are not VIEs will not be consolidated by the general partner.
		·		It is less likely that decision makers or service providers involved with a VIE will be required to consolidate the VIE.
		·		Entities for which decision making rights are conveyed through a contractual arrangement are less likely to be considered VIEs.
		·		Reporting enterprises with interests in certain investment companies and similar entities that are considered VIEs will no longer evaluate those entities for consolidation based on majority exposure to variability.

	The guidance is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2015 (i.e. January 1, 2016). Early adoption is allowed, including early adoption in an interim period. A reporting enterprise is permitted to apply either a modified retrospective approach or full retrospective application. CIT is currently evaluating the impact of adopting this ASU.
	Extraordinary and Unusual Items
	The FASB issued ASU 2015-01, Extraordinary and Unusual Items, in January 2015 as part of FASB’s simplification initiative, which eliminates the concept of extraordinary item and the need for entities to evaluate whether transactions or events are both unusual in nature and infrequently occurring.
	The ASU precludes (1) segregating an extraordinary item from the results of ordinary operations; (2) presenting separately an extraordinary item on the income statement, net of tax, after income from continuing operations; and (3) disclosing income taxes and earnings-per-share data applicable to an extraordinary item. However, the ASU does not affect the reporting and disclosure requirements for an event or transaction that is unusual in nature or that occurs infrequently. So, although the Company will no longer need to determine whether a transaction or event is both unusual in nature and infrequently occurring, CIT will still need to assess whether items are unusual in nature or infrequent to determine if the additional presentation and disclosure requirements for these items apply.
	For all entities, ASU 2015-01 is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. Early adoption is permitted if the guidance is applied as of the beginning of the annual period of adoption. Adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures.

	Revenue Recognition

	The FASB issued ASU No. 2014-09 - Revenue from Contracts with Customers, which will supersede virtually all of the revenue recognition guidance in GAAP, except as it relates to lease accounting.

	The core principle of the five-step model is that a company will recognize revenue when it transfers control of goods or services to customers at an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. In doing so, many companies will have to make more estimates and use more judgment than they do under current GAAP. The five-step analysis of transactions, to determine when and how revenue is recognized, includes:

	1. Identify the contract with the customer.
	2. Identify the performance obligations in the contract.
	3. Determine the transaction price.
	4. Allocate the transaction price to the performance obligations.
	5. Recognize revenue when or as each performance obligation is satisfied.

	Companies can choose to apply the standard using either the full retrospective approach or a modified retrospective approach. Under the modified approach, financial statements will be prepared for the year of adoption using the new standard, but prior periods will not be adjusted. Instead, companies will recognize a cumulative catch-up adjustment to the opening balance of retained earnings at the effective date for contracts that still require performance by the company and disclose all line items in the year of adoption as if they were prepared under today’s revenue guidance.
	The FASB has set an effective date of fiscal years beginning after December 15, 2016 for public entities. Public companies that choose full retrospective application will need to apply the standard to amounts they report for 2015 and 2016 on the face of their 2017 financial statements. In April 2015, the FASB voted to release a proposal to offer an extra year for public companies and two years for private companies to comply with the standard. CIT is required to adopt the ASU and is currently reviewing the impact of adoption and has not determined the effect of the standard on its ongoing financial reporting.

	Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the
	Requisite Service Period

	The FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period, in June 2014.

	The ASU directs that a performance target that affects vesting and can be achieved after the requisite service period is a performance condition. That is, compensation cost would be recognized over the required service period if it is probable that the performance condition would be achieved. The total amount of compensation cost recognized during and after the requisite service period would reflect the number of awards that are expected to vest and would be adjusted to reflect those awards that ultimately vest.

	The ASU does not require additional disclosures. Entities may apply the amendments in this update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this ASU as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost.

	The ASU is effective for annual periods beginning after December 15, 2015 and interim periods within those years. Early adoption is permitted. CIT is currently evaluating the impact of adopting this ASU and is reviewing existing awards for applicability.

	Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern

	The FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, in August 2014. This ASU describes how entities should assess their ability to meet their obligations and sets disclosure requirements about how this information should be communicated. The standard will be used along with existing auditing standards, and provides the following key guidance:

	1		Entities must perform a going concern assessment by evaluating their ability to meet their obligations for a look-forward period of one year from the financial statement issuance date (or date the financial statements are available to be issued).
	2		Disclosures are required if it is probable an entity will be unable to meet its obligations within the look-forward period. Incremental substantial doubt disclosure is required if the probability is not mitigated by management’s plans.
	3		Pursuant to the ASU, substantial doubt about an entity’s ability to continue as a going concern exists if it is probable that the entity will be unable to meet its obligations as they become due within one year after the date the annual or interim financial statements are issued or available to be issued (assessment date).

The new standard applies to all entities for the first annual period ending after December 15, 2016. Company management is responsible for assessing going concern uncertainties at each annual and interim reporting period thereafter. The adoption of this guidance is not expected to have a significant impact on CIT’s financial statements or disclosures.

Discontinued_Operation_Tables

Discontinued Operation (Tables)	3 Months Ended
Discontinued Operation (Tables)	Mar. 31, 2015
Discontinued Operation [Abstract]
Assets, Liabilities And Operating Results Of Discontinued Operation





	Operating Results of Discontinued Operation (dollars in millions)



		Quarter Ended March 31, 2014
	Interest income	$ 21.2
	Interest expense	-19
	Other income	3.0
	Operating expenses	-2.2
	Income from discontinued operation before provision for income taxes	3.0
	Provision for income taxes	-0.7
	Income from discontinued operation, net of taxes	2.3

Loans_Tables

Loans (Tables)	3 Months Ended
Loans (Tables)	Mar. 31, 2015
Loans [Abstract]
Schedule Of Finance Receivables

	Finance Receivables by Product (dollars in millions)




		March 31,		December 31,
		2015		2014
	Loans	$ 14,384.9		$ 14,398.2
	Direct financing leases and leveraged leases	5,044.4		5,096.8
	Finance receivables	19,429.3		19,495.0
	Finance receivables held for sale	773.2		779.9
	Finance receivables and held for sale receivables (1)	$ 20,202.5		$ 20,274.9





		-1		Assets held for sale on the Balance Sheet includes finance receivables and operating lease equipment. As discussed in subsequent tables, since the Company manages the credit risk and collections of finance receivables held for sale consistently with its finance receivables held for investment, the aggregate amount is presented in this table.

Schedule Of Finance Receivables By Segment, Based On Obligor Location

		31-Mar-15				31-Dec-14
		Domestic	Foreign	Total		Domestic	Foreign	Total
	Transportation & International Finance	$ 797.1	$ 2,771.4	$ 3,568.5		$ 812.6	$ 2,746.3	$ 3,558.9
	North American Commercial Finance	14,666.0	1,194.8	15,860.8		14,645.1	1,290.9	15,936.0
	Non-Strategic Portfolios	-	-	-		-	0.1	0.1
	Total	$ 15,463.1	$ 3,966.2	$ 19,429.3		$ 15,457.7	$ 4,037.3	$ 19,495.0


Components Of Net Investment In Finance Receivables

	Components of Net Investment in Finance Receivables (dollars in millions)






		March 31,		December 31,
		2015		2014
	Unearned income	$ (1,026.8)		$ (1,037.8)
	Unamortized (discounts)	-20.3		-22
	Net unamortized deferred costs and (fees)	53.1		48.5


Finance And Held-For-Sale Receivables - By Risk Rating

	Finance and Held for Sale Receivables — by Risk Rating (dollars in millions)







		Transportation & International Finance		North American Commercial Finance
	Grade:	Transportation Finance	International Finance	Corporate Finance	Equipment Finance	Real Estate Finance	Commercial Services	Subtotal	Non-Strategic Portfolios	Total
	31-Mar-15
	Pass	$ 2,902.1	$ 804.3	$ 6,000.1	$ 4,146.5	$ 1,770.5	$ 2,064.6	$ 17,688.1	$ 241.4	$ 17,929.5
	Special mention	36.4	78.4	702.9	323.7	43.4	310.3	1,495.1	13.7	1,508.8
	Classified - accruing	24.6	76.8	138.1	164.8	-	167.8	572.1	8.6	580.7
	Classified - non-accrual	0.1	39.1	44.5	71.1	-	-	154.8	28.7	183.5
	Total	$ 2,963.2	$ 998.6	$ 6,885.6	$ 4,706.1	$ 1,813.9	$ 2,542.7	$ 19,910.1	$ 292.4	$ 20,202.5
	31-Dec-14
	Pass	$ 2,895.9	$ 820.2	$ 6,199.0	$ 4,129.1	$ 1,692.0	$ 2,084.1	$ 17,820.3	$ 288.7	$ 18,109.0
	Special mention	12.8	107.9	561.0	337.8	76.6	278.8	1,374.9	18.4	1,393.3
	Classified - accruing	44.1	58.0	121.8	180.4	-	197.3	601.6	10.5	612.1
	Classified - non-accrual	0.1	37.1	30.9	70.0	-	-	138.1	22.4	160.5
	Total	$ 2,952.9	$ 1,023.2	$ 6,912.7	$ 4,717.3	$ 1,768.6	$ 2,560.2	$ 19,934.9	$ 340.0	$ 20,274.9


Finance And Held For Sale Receivables - Delinquency Status

	Finance and Held for Sale Receivables — Delinquency Status (dollars in millions)








						Total Past
			30–59 Days	60–89 Days	90 Days or	Due 30 Days or		Total Finance
			Past Due	Past Due	Greater	Greater	Current	Receivables
	31-Mar-15
	Transportation Finance		$ 5.4	$ 7.7	$ 2.9	$ 16.0	$ 2,947.2	$ 2,963.2
	International Finance		26.2	7.4	34.1	67.7	930.9	998.6
	Corporate Finance		-	-	2.0	2.0	6,883.6	6,885.6
	Equipment Finance		88.1	21.6	13.7	123.4	4,582.7	4,706.1
	Real Estate Finance		-	-	-	-	1,813.9	1,813.9
	Commercial Services		34.1	1.3	0.9	36.3	2,506.4	2,542.7
	Sub-total		153.8	38.0	53.6	245.4	19,664.7	19,910.1
	Non-Strategic Portfolios		10.7	4.0	17.5	32.2	260.2	292.4
	Total		$ 164.5	$ 42.0	$ 71.1	$ 277.6	$ 19,924.9	$ 20,202.5
	31-Dec-14
	Transportation Finance		$ 5.2	$ 1.9	$ 4.3	$ 11.4	$ 2,941.5	$ 2,952.9
	International Finance		43.9	7.0	21.6	72.5	950.7	1,023.2
	Corporate Finance		4.4	-	0.5	4.9	6,907.8	6,912.7
	Equipment Finance		93.7	32.9	14.9	141.5	4,575.8	4,717.3
	Real Estate Finance		-	-	-	-	1,768.6	1,768.6
	Commercial Services		62.2	3.3	0.9	66.4	2,493.8	2,560.2
	Sub-total		209.4	45.1	42.2	296.7	19,638.2	19,934.9
	Non-Strategic Portfolios		16.4	6.9	9.6	32.9	307.1	340.0
	Total		$ 225.8	$ 52.0	$ 51.8	$ 329.6	$ 19,945.3	$ 20,274.9


Finance Receivables On Non-accrual Status

	Finance Receivables on Non-accrual Status (dollars in millions)







			31-Mar-15				31-Dec-14
			Held for Investment	Held for Sale	Total		Held for Investment	Held for Sale	Total
	Transportation Finance		$ 0.1	$ -	$ 0.1		$ 0.1	$ -	$ 0.1
	International Finance		23.5	15.6	39.1		22.4	14.7	37.1
	Corporate Finance		43.0	1.5	44.5		30.9	-	30.9
	Equipment Finance		71.1	-	71.1		70.0	-	70.0
	Sub-total		137.7	17.1	154.8		123.4	14.7	138.1
	Non-Strategic Portfolios		-	28.7	28.7		-	22.4	22.4
	Total		$ 137.7	$ 45.8	$ 183.5		$ 123.4	$ 37.1	$ 160.5
	Repossessed assets				0.6				0.8
	Total non-performing assets				$ 184.1				$ 161.3

	Total Accruing loans past due 90 days or more				$ 21.5				$ 10.3


Impaired Loans

	Impaired Loans (dollars in millions)







							Three Months Ended March 31,
				31-Mar-15			2015	2014
					Unpaid		Average	Average
				Recorded	Principal	Related	Recorded	Recorded
				Investment	Balance	Allowance	Investment	Investment

	With no related allowance recorded:
	International Finance			$ 8.1	$ 11.4	$ -	$ 9.2	$ 6.0
	Corporate Finance			0.6	0.6	-	0.9	130.6
	Equipment Finance			4.4	5.4	-	5.0	6.3
	Commercial Services			4.0	4.0	-	4.1	8.8
	Non-Strategic Portfolios			-	-	-	-	8.4
	With an allowance recorded:
	Transportation Finance			-	-	-	-	14.9
	International Finance			8.1	8.1	1.4	7.1	-
	Corporate Finance			42.5	43.6	13.4	36.1	50.4
	Total Impaired Loans(1)			67.7	73.1	14.8	62.4	228.5
	Total Loans Impaired at Convenience Date(2)			0.1	14.7	-	0.7	54.4
	Total			$ 67.8	$ 87.8	$ 14.8	$ 63.1	$ 282.9

							Year Ended
				31-Dec-14			31-Dec-14
					Unpaid		Average
				Recorded	Principal	Related	Recorded
				Investment	Balance	Allowance	Investment
	With no related allowance recorded:
	International Finance			$ 10.2	$ 17.0	$ -	$ 10.1
	Corporate Finance			1.2	1.2	-	104.9
	Equipment Finance			5.6	6.8	-	5.8
	Commercial Services			4.2	4.2	-	6.9
	Non-Strategic Portfolios			-	-	-	3.4
	With an allowance recorded:
	Transportation Finance			-	-	-	9.0
	International Finance			6.0	6.0	1.0	3.4
	Corporate Finance			29.6	34.3	11.4	43.5
	Equipment Finance			-	-	-	0.8
	Commercial Services			-	-	-	2.8
	Total Impaired Loans (1)			56.8	69.5	12.4	190.6
	Total Loans Impaired at Convenience date(2)			1.2	15.8	0.5	26.4
	Total			$ 58.0	$ 85.3	$ 12.9	$ 217.0


		-1		Interest income recorded for the three months ended March 31, 2015 and 2014 while the loans were impaired was $0.4 million and $0.7 million, respectively, of which $0 and $0.4 million was interest recognized using the cash-basis method of accounting. Interest income recorded for the year ended December 31, 2014 while the loans were impaired was $10.1 million, of which $0.7 million was interest recognized using the cash-basis method of accounting.
		-2		Details of finance receivables that were identified as impaired at the Convenience Date are presented under Loans and Debt Securities Acquired with Deteriorated Credit Quality.

Allowance_For_Loan_Losses_Tabl

Allowance For Loan Losses (Tables)	3 Months Ended
Allowance For Loan Losses (Tables)	Mar. 31, 2015
Allowance For Loan Losses [Abstract]
Schedule Of Allowance For Loan Losses And Recorded Investment In Finance Receivables

	Allowance for Loan Losses and Recorded Investment in Finance Receivables (dollars in millions)







			Transportation & International Finance	North American Commercial Finance	Non-Strategic Portfolios	Corporate and Other	Total
	Beginning balance - December 31, 2014		$ 46.8	$ 299.6	$ -	$ -	$ 346.4
	Provision for credit losses		10.6	24.0	0.0	-	34.6
	Other(1)		-0.4	-3.2	-	-	-3.6
	Gross charge-offs (2)		-3.2	-23.4	-	-	-26.6
	Recoveries		1.7	4.0	0.0	-	5.7
	Allowance balance - March 31, 2015		$ 55.5	$ 301.0	$ -	$ -	$ 356.5





	Allowance balance:
	At March 31, 2015
	Loans individually evaluated for impairment		$ 1.4	$ 13.4	$ -	$ -	$ 14.8
	Loans collectively evaluated for impairment		54.1	287.6	0.0	-	341.7
	Loans acquired with deteriorated credit quality (3)		-	-	-	-	-
	Allowance balance		$ 55.5	$ 301.0	$ -	$ -	$ 356.5
	Other reserves (1)		$ 0.5	$ 36.8	$ -	$ -	$ 37.3
	At March 31, 2014
	Loans individually evaluated for impairment		$ 0.7	$ 25.0	$ -	$ -	$ 25.7
	Loans collectively evaluated for impairment		45.0	280.9	0.0	-	325.9
	Loans acquired with deteriorated credit quality (3)		-	1.0	-	-	1.0
	Allowance balance		$ 45.7	$ 306.9	$ -	$ -	$ 352.6
	Other reserves (1)		$ 0.4	$ 30.6	$ -	$ -	$ 31.0
	Finance receivables:
	At March 31, 2015
	Loans individually evaluated for impairment		$ 16.2	$ 51.5	$ -	$ -	$ 67.7
	Loans collectively evaluated for impairment		3,552.3	15,809.2	-	-	19,361.5
	Loans acquired with deteriorated credit quality (3)		0.0	0.1	0.0	-	0.1
	Ending balance		$ 3,568.5	$ 15,860.8	$ -	$ -	$ 19,429.3
	Percent of loans to total loans		18.4%	81.6%	0.0%	-	100.0%
	At March 31, 2014
	Loans individually evaluated for impairment		$ 20.6	$ 192.4	$ 6.6	$ -	$ 219.6
	Loans collectively evaluated for impairment		3,532.8	14,657.6	107.0	-	18,297.4
	Loans acquired with deteriorated credit quality (3)		0.1	52.8	1.8	-	54.7
	Ending balance		$ 3,553.5	$ 14,902.8	$ 115.4	$ -	$ 18,571.7
	Percent of loans to total loans		19.1%	80.3%	0.6%	-	100.0%









		-1		“Other reserves” represents additional credit loss reserves for unfunded lending commitments, letters of credit and for deferred purchase agreements, all of which is recorded in Other liabilities. “Other” also includes changes relating to sales and foreign currency translations.
		-2		Gross charge-offs include $6 million charged directly to the Allowance for loan losses for the quarter ended March 31, 2014 and none in the quarter ended March 31, 2015. In 2014, $6 million related to NACF.
		-3		Represents loans considered impaired in FSA and are accounted for under the guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality).

Investment_Securities_Tables

Investment Securities (Tables)	3 Months Ended
Investment Securities (Tables)	Mar. 31, 2015
Investment Securities [Abstract]
Schedule Of Investment Securities


		March 31,	December 31,
		2015	2014
	Debt securities available-for-sale	$ 949.8	$ 1,116.5
	Equity securities available-for-sale	14.3	14.0
	Debt securities held-to-maturity (1)	320.1	352.3
	Non-marketable equity investments(2)	63.2	67.5
	Total investment securities	$ 1,347.4	$ 1,550.3



	(1) Recorded at amortized cost less impairment on securities that have credit-related impairment.
	(2) Non-marketable equity investments include ownership interests greater than 3% in limited partnership investments that are accounted for under the equity method. Non-marketable equity investments include $19.3 million and $19.7 million in limited partnerships at March 31, 2015 and December 31, 2014, respectively, accounted for under the equity method. The remaining investments are carried at cost and include qualified Community Reinvestment Act (“CRA”) investments, equity fund holdings and shares issued by customers during loan work out situations or as part of an original loan investment.

Schedule Of Interest And Dividends On Investments

		Quarters Ended March 31,
		2015	2014
	Interest income - interest bearing deposits	4.0	$ 4.6
	Interest income - investments / reverse repos	4.1	3.3
	Dividends - investments	0.5	0.9
	Interest and dividends on interest bearing deposits and investments	8.6	$ 8.8


Amortized Cost And Fair Value Of Securities Available-For-Sale

			Gross	Gross
		Amortized	Unrealized	Unrealized	Fair
	31-Mar-15	Cost	Gains	Losses	Value
	Debt securities AFS
	U.S. government agency obligations	950.0	-	-0.7	949.3
	Foreign government securities	0.5	-	-	0.5
	Total debt securities AFS	950.5	-	-0.7	949.8
	Equity securities AFS	14.2	0.4	-0.3	14.3
	Total securities AFS	$ 964.7	$ 0.4	$ (1.0)	$ 964.1
	31-Dec-14
	Debt securities AFS
	U.S. Treasury securities	$ 200.0	$ -	$ -	$ 200.0
	U.S. government agency obligations	904.2	-	-	904.2
	Foreign government securities	12.3	-	-	12.3
	Total debt securities AFS	1,116.5	-	-	1,116.5
	Equity securities AFS	14.0	0.6	-0.6	14.0
	Total securities AFS	$ 1,130.5	$ 0.6	$ (0.6)	$ 1,130.5


Carrying Value And Fair Value Of Securities Held-To-Maturity

			Gross	Gross
		Carrying	Unrecognized	Unrecognized	Fair
		Value	Gains	Losses	Value
	31-Mar-15
	Mortgage-backed securities - U.S. government owned and sponsored agencies	$ 161.2	$ 2.5	$ (1.4)	$ 162.3
	State and municipal	43.8	0.1	-0.5	43.4
	Foreign government	8.9	0.1	-	9.0
	Corporate - foreign	106.2	7.2	-	113.4
	Total debt securities held-to-maturity	$ 320.1	$ 9.9	$ (1.9)	$ 328.1
	31-Dec-14
	Mortgage-backed securities - U.S. government owned and sponsored agencies	$ 156.3	$ 2.5	$ (1.9)	$ 156.9
	State and municipal	48.1	0.1	-1.8	46.4
	Foreign government	37.9	0.1	-	38.0
	Corporate - foreign	110.0	9.0	-	119.0
	Total debt securities held-to-maturity	$ 352.3	$ 11.7	$ (3.7)	$ 360.3



Amortized Cost And Fair Value Of Debt Securities Held-To-Maturity By Contractual Maturity Dates

		31-Mar-15		31-Dec-14
		Amortized	Fair	Amortized	Fair
		Cost	Value	Cost	Value
	Mortgage-backed securities - U.S. government owned and sponsored agencies
	Due after 5 but within 10 years	$ 1.3	$ 1.3	$ 1.3	$ 1.3
	Due after 10 years (1)	159.9	161.0	155.0	155.6
	Total	161.2	162.3	156.3	156.9
	State and municipal
	Due within 1 year	1.1	1.1	1.2	1.2
	Due after 1 but within 5 years	2.6	2.6	2.9	2.9
	Due after 5 but within 10 years	-	-	-	-
	Due after 10 years (1)	40.1	39.7	44.0	42.3
	Total	43.8	43.4	48.1	46.4
	Foreign government
	Due within 1 year	6.5	6.5	10.8	10.8
	Due after 1 but within 5 years	2.4	2.5	27.1	27.2
	Total	8.9	9.0	37.9	38.0
	Corporate - Foreign
	Due within 1 year	0.9	0.9	0.9	0.9
	Due after 1 but within 5 years	39.9	44.9	43.7	49.8
	After 5 but within 10 years	65.4	67.6	65.4	68.3
	Total	106.2	113.4	110.0	119.0
	Total debt securities held-to-maturity	$ 320.1	$ 328.1	$ 352.3	$ 360.3

LongTerm_Borrowings_Tables

Long-Term Borrowings (Tables)	3 Months Ended
Long-Term Borrowings (Tables)	Mar. 31, 2015
Long-Term Borrowings [Abstract]
Schedule Of Outstanding Long-Term Borrowings

			31-Mar-15				31-Dec-14
			CIT Group Inc.		Subsidiaries	Total	Total

	Senior Unsecured (1)		$ 10,732.6		$ -	$ 10,732.6	$ 11,932.4
	Secured borrowings		-		5,925.7	5,925.7	6,523.4
	Total Long-term Borrowings		$ 10,732.6		$ 5,925.7	$ 16,658.3	$ 18,455.8


		-1		Senior Unsecured Notes at March 31, 2015 were comprised of $8,243.7 million of Unsecured Notes, $2,450.0 million of Series C Notes and $38.9 million of other unsecured debt.

	Unsecured Borrowings

Schedule Of Senior Unsecured Notes	Senior Unsecured Notes (dollars in millions)



	Maturity Date		Rate (%)		Date of Issuance	Par Value
	May-17		5.000%		May-12	1,250.0
	Aug-17		4.250%		Aug-12	1,750.0
	Mar-18		5.250%		Mar-12	1,500.0
	April 2018*		6.625%		Mar-11	700.0
	February 2019*		5.500%		Feb-12	1,750.0
	Feb-19		3.875%		Feb-14	1,000.0
	May-20		5.375%		May-12	750.0
	Aug-22		5.000%		Aug-12	1,250.0
	Aug-23		5.000%		Aug-13	750.0
	Weighted average coupon rate and total		5.02%			$ 10,700.0

	* Series C Unsecured Notes


Schedule Of Secured Borrowings And Pledged Assets

	Secured Borrowings and Pledged Assets Summary (1) (dollars in millions)






			31-Mar-15			31-Dec-14
			Secured Borrowing		Pledged Assets	Secured Borrowing	Pledged Assets
	Rail(2)		$ 1,125.9		$ 1,516.1	$ 1,179.7	$ 1,575.7
	Aerospace(2)		2,348.6		3,790.7	2,411.7	3,914.4
	International Finance		528.4		726.4	545.0	730.6
	Subtotal - Transportation & International Finance		4,002.9		6,033.2	4,136.4	6,220.7
	Corporate Finance		86.7		149.4	129.7	141.6
	Real Estate Finance		-		167.6	125.0	168.0
	Commercial Services		334.7		1,917.4	334.7	1,644.6
	Equipment Finance		1,501.4		2,089.7	1,797.6	2,352.8
	Subtotal - North American Commercial Finance		1,922.8		4,324.1	2,387.0	4,307.0
	Total		$ 5,925.7		$ 10,357.3	$ 6,523.4	$ 10,527.7

	(1) As part of our liquidity management strategy, we pledge assets to secure financing transactions (which include securitizations), borrowings from the FHLB and FRB, and for other purposes as required or permitted by law.
	(2) At March 31, 2015 the GSI TRS related borrowings and pledged assets, respectively, of $1.2 billion and $1.8 billion were included in TIF. The GSI TRS is described in Note 8 – Derivative Financial Instruments.

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	3 Months Ended
Derivative Financial Instruments (Tables)	Mar. 31, 2015
Derivative Financial Instruments [Abstract]
Fair And Notional Values Of Derivative Financial Instruments


	Contract Type		31-Mar-15				31-Dec-14
			Notional		Asset Fair	Liability	Notional	Asset Fair	Liability
	Qualifying Hedges		Amount		Value	Fair Value	Amount	Value	Fair Value
	Foreign currency forward contracts – net investment hedges		1,063.4		97.7	-0.9	1,193.1	74.7	-
	Total Qualifying Hedges		1,063.4		97.7	-0.9	1,193.1	74.7	0.0
	Non-Qualifying Hedges
	Interest rate swaps		2,117.2		19.5	-27.6	1,902.0	15.2	-23.1
	Written options		2,952.5		-	-1.9	2,711.5	-	-2.7
	Purchased options		1,059.8		0.5	-	948.4	0.8	-
	Foreign currency forward contracts		1,518.0		81.6	-11.6	2,028.8	77.2	-12
	Total Return Swap (TRS)		1,106.8		-	-25.5	1,091.9	-	-24.5
	Equity Warrants		1.0		0.1	-	1.0	0.1	-
	Total Non-qualifying Hedges		8,755.3		101.7	-66.6	8,683.6	93.3	-62.3
	Total Hedges		$ 9,818.7		$ 199.4	$ (67.5)	$ 9,876.7	$ 168.0	$ (62.3)




		-1		Presented on a gross basis

Offsetting Of Derivative Assets And Liabilities

	Offsetting of Derivative Assets and Liabilities (dollars in millions)





							Gross Amounts not offset in the Consolidated Balance Sheet

			Gross Amount of Recognized Assets (Liabilities)		Gross Amount Offset in the Consolidated Balance Sheet	Net Amount Presented in the Consolidated Balance Sheet	Derivative Financial Instruments (1)	Cash Collateral Pledged/(Received) (1)(2)	Net Amount
	31-Mar-15
	Derivative assets		$ 199.4		$ -	$ 199.4	$ (13.2)	$ (163.9)	$ 22.3
	Derivative liabilities		-67.5		-	-67.5	13.2	14.7	-39.6

	31-Dec-14
	Derivative assets		$ 168.0		$ -	$ 168.0	$ (13.6)	$ (137.3)	$ 17.1
	Derivative liabilities		-62.3		-	-62.3	13.6	8.7	-40

	(1) The Company’s derivative transactions are governed by ISDA agreements that allow for net settlements of certain payments as well as offsetting of all contracts (“Derivative Financial Instruments”) with a given counterparty in the event of bankruptcy or default of one of the two parties to the transaction. We believe our ISDA agreements meet the definition of a master netting arrangement or similar agreement for purposes of the above disclosure. In conjunction with the ISDA agreements, the Company has entered into collateral arrangements with its counterparties which provide for the exchange of cash depending on the change in the market valuation of the derivative contracts outstanding. Such collateral is available to be applied in settlement of the net balances upon an event of default by one of the counterparties.

	(2) Collateral pledged or received is included in Other assets or Other liabilities, respectively.

Derivative Instrument Gains And Losses

	Derivative Instrument Gains and Losses (dollars in millions)





					Quarters Ended March 31,
	Contract Type		Gain / (Loss) Recognized		2015	2014
	Non Qualifying Hedges
	Cross currency swaps		Other income		-	5.1
	Interest rate swaps		Other income		-0.2	3.8
	Interest rate options		Other income		0.5	-0.1
	Foreign currency forward contracts		Other income		86.2	29.1
	Equity warrants		Other income		-	-0.2
	Total Return Swap (TRS)		Other income		-1	-1.7
	Total Non-qualifying Hedges				85.5	36.0
	Total derivatives-income statement impact				$ 85.5	$ 36.0


Changes In AOCI Relating To Derivatives

	Changes in AOCI Relating to Derivatives (dollars in millions)








	Contract Type		Derivatives - effective portion reclassified from AOCI to income		Hedge ineffectiveness recorded directly in income	Total income statement impact	Derivatives - effective portion recorded in OCI	Total change in OCI for period
	Quarter Ended March 31, 2015
	Foreign currency forward contracts - net investment hedges		4.2		-	4.2	83.8	79.6
	Total		4.2		0.0	4.2	83.8	79.6

	Quarter Ended March 31, 2014
	Foreign currency forward contracts - net investment hedges		-3.1		-	-3.1	4.5	7.6
	Cross currency swaps - net investment hedges		-		-	-	1.8	1.8
	Total		-3.1		-	-3.1	6.3	9.4

Fair_Value_Tables

Fair Value (Tables)	3 Months Ended
Fair Value (Tables)	Mar. 31, 2015
Fair Value [Abstract]
Assets And Liabilities Measured At Fair Value On A Recurring Basis

	31-Mar-15	Total	Level 1	Level 2	Level 3
	Assets
	Debt Securities AFS	949.8	0.5	949.3	-
	Equity Securities AFS	14.3	14.3	-	-
	Trading assets at fair value - derivatives	101.7	-	101.7	-
	Derivative counterparty assets at fair value	97.7	-	97.7	-
	Total	$ 1,163.5	$ 14.8	$ 1,148.7	$ -
	Liabilities
	Trading liabilities at fair value - derivatives	$ (66.6)	$ -	$ (39.5)	$ (27.1)
	Derivative counterparty liabilities at fair value	-0.9	-	-0.9	-
	Total	$ (67.5)	$ -	$ (40.4)	$ (27.1)
	31-Dec-14
	Assets
	Debt Securities AFS	$ 1,116.5	$ 212.3	$ 904.2	$ -
	Equity Securities AFS	14.0	14.0	-	-
	Trading assets at fair value - derivatives	93.3	-	93.3	-
	Derivative counterparty assets at fair value	74.7	-	74.7	-
	Total	$ 1,298.5	$ 226.3	$ 1,072.2	$ -
	Liabilities
	Trading liabilities at fair value - derivatives	$ (62.3)	$ -	$ (35.7)	$ (26.6)
	Total	$ (62.3)	$ -	$ (35.7)	$ (26.6)


Assets Measured At Fair Value On A Non-Recurring Basis

			Fair Value Measurements at Reporting Date Using:
		Total	Level 1	Level 2	Level 3	Total Gains and (Losses)
	Assets
	31-Mar-15
	Assets held for sale	$ 411.9	$ -	$ -	$ 411.9	$ (10.4)
	Impaired loans	21.0	-	-	21.0	-5.4
	Total	$ 432.9	$ -	$ -	$ 432.9	$ (15.8)
	31-Dec-14
	Assets held for sale	$ 949.6	$ -	$ -	$ 949.6	$ (73.6)
	Impaired loans	13.2	-	-	13.2	-4.9
	Total	$ 962.8	$ -	$ -	$ 962.8	$ (78.5)


Changes In The Estimated Fair Value Of The Financial Assets And Liabilities Measured On A Recurring Basis

		Total
		(all derivatives)
	31-Dec-14	$ (26.6)
	Gains or losses realized/unrealized included in Other Income (1)	-0.5
	31-Mar-15	$ (27.1)

	31-Dec-13	$ (9.7)
	Gains or losses realized/unrealized included in Other Income (1)	-1.7
	31-Mar-14	$ (11.4)


Carrying And Estimated Fair Values Of Financial Instruments

			Estimated Fair Value
		Carrying
	31-Mar-15	Value	Level 1	Level 2	Level 3	Total
	Financial Assets
	Derivative assets at fair value - non-qualifying hedges	$ 101.7	$ -	$ 101.7	$ -	$ 101.7
	Derivative counterparty assets at fair value	97.7	-	97.7	-	97.7
	Assets held for sale (excluding leases)	129.7	-	5.7	132.7	138.4
	Loans (excluding leases)	14,217.0	-	1,639.0	12,301.9	13,940.9
	Securities purchased under agreements to resell	450.0	-	450.4		450.4
	Investment securities	1,347.4	227.0	996.2	132.2	1,355.4
	Other assets subject to fair value disclosure and unsecured counterparty receivables (1)	906.7	-	-	906.7	906.7
	Financial Liabilities
	Deposits (2)	-16,809.20	-	-	-17,129.00	-17,129.00
	Derivative liabilities at fair value - non-qualifying hedges	-66.6	-	-39.5	-27.1	-66.6
	Derivative counterparty liabilities at fair value	-0.9	-	-0.9	-	-0.9
	Long-term borrowings (2)	-16,778.80	-	-14,121.80	-3,189.10	-17,310.90
	Credit balances of factoring clients	-1,505.30	-	-	-1,505.30	-1,505.30
	Other liabilities subject to fair value disclosure (3)	-1,965.60	-	-	-1,965.60	-1,965.60

	31-Dec-14
	Financial Assets
	Derivative assets at fair value - non-qualifying hedges	$ 93.3	$ -	$ 93.3	$ -	$ 93.3
	Derivative counterparty assets at fair value	74.7	-	74.7	-	74.7
	Assets held for sale (excluding leases)	67.0	-	-	67.2	67.2
	Loans (excluding leases)	14,379.5	-	1,585.4	12,490.8	14,076.2
	Securities purchased under agreements to resell	650.0	-	650.0	-	650.0
	Investment securities	1,550.3	464.9	956.0	137.4	1,558.3
	Other assets subject to fair value disclosure and unsecured counterparty receivables (1)	886.2	-	-	886.2	886.2
	Financial Liabilities
	Deposits (2)	-15,891.40	-	-	-16,105.70	-16,105.70
	Derivative liabilities at fair value - non-qualifying hedges	-62.3	-	-35.7	-26.6	-62.3
	Long-term borrowings (2)	-18,657.90	-	-15,906.30	-3,338.10	-19,244.40
	Credit balances of factoring clients	-1,622.10	-	-	-1,622.10	-1,622.10
	Other liabilities subject to fair value disclosure (3)	-2,066.80	-	-	-2,066.80	-2,066.80



		-1		Other assets subject to fair value disclosure primarily include accrued interest receivable and miscellaneous receivables. These assets have carrying values that approximate fair value generally due to the short-term nature and are classified as level 3. The unsecured counterparty receivables primarily consist of amounts owed to CIT from GSI for debt discount, return of collateral posted to GSI and settlements resulting from market value changes to asset-backed securities underlying the GSI Facilities
		-2		Deposits and long-term borrowings include accrued interest, which is included in "Other liabilities" in the Balance Sheet.
		-3		Other liabilities subject to fair value disclosure include accounts payable, accrued liabilities, customer security and maintenance deposits and miscellaneous liabilities. The fair value of these approximate carrying value and are classified as level 3.

Regulatory_Capital_Tables

Regulatory Capital (Tables)	3 Months Ended
Regulatory Capital (Tables)	Mar. 31, 2015
Regulatory Capital [Abstract]
Components Of Tier 1 Capital And Total Capital
		CIT		CIT Bank
		March 31,	December 31,	March 31,	December 31,
	Tier 1 Capital	2015	2014	2015	2014
	Total stockholders’ equity (2)	$ 8,758.6	$ 9,068.9	$ 2,748.1	$ 2,716.4
	Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interests	59.8	53.0	0.3	-0.2
	Adjusted total equity	8,818.4	9,121.9	2,748.4	2,716.2
	Less: Goodwill (3)	-482.8	-571.3	-167.9	-167.8
	Disallowed deferred tax assets	-358.3	-416.8	-	-
	Disallowed intangible assets (3)	-9.3	-25.7	-2.6	-12.1
	Investment in certain subsidiaries	NA	-36.7	NA	-
	Other Tier 1 components (4)	-	-4.1	-	-
	Common Equity Tier 1 Capital	7,968.0	8,067.3	2,577.9	2,536.3

	Tier 1 Capital	7,968.0	8,067.3	2,577.9	2,536.3
	Tier 2 Capital
	Qualifying allowance for credit losses and other reserves (5)	393.8	381.8	250.6	245.1
	Less: Investment in certain subsidiaries	NA	-36.7	-	-
	Other Tier 2 components (6)	0.1	-	0.1	0.1
	Total qualifying capital	$ 8,361.9	$ 8,412.4	$ 2,828.6	$ 2,781.5
	Risk-weighted assets	$ 56,059.5	$ 55,480.9	$ 19,982.0	$ 19,552.3
	Common Equity Tier 1 Capital (to risk-weighted assets):
	Actual	14.2%	NA	12.9%	NA
	Effective minimum ratios under Basel III guidelines (7)	7.00%	NA	7.00%	NA
	Total Capital (to risk-weighted assets):
	Actual	14.9%	15.2%	14.2%	14.2%
	Effective minimum ratios under Basel III guidelines (7)	10.5%	10.0%	10.5%	10.0%
	Tier 1 Capital (to risk-weighted assets):
	Actual	14.2%	14.5%	12.9%	13.0%
	Effective minimum ratios under Basel III guidelines (7)	8.5%	6.0%	8.5%	6.0%
	Tier 1 Leverage Ratio:
	Actual	17.2%	17.4%	12.1%	12.2%
	Required minimum Ratio for Capital Adequacy Purposes	4.0%	4.0%	4.0%	4.0%

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	3 Months Ended
Stockholders' Equity (Tables)	Mar. 31, 2015
Stockholders' Equity [Abstract]
Components Of Accumulated Other Comprehensive Loss

		31-Mar-15				31-Dec-14
		Gross Unrealized	Income Taxes	Net Unrealized		Gross Unrealized	Income Taxes	Net Unrealized
	Foreign currency translation adjustments	$ (84.7)	$ (19.1)	$ (103.8)		$ (75.4)	$ -	$ (75.4)
	Changes in benefit plan net gain (loss) and prior service (cost)/credit	-59.4	0.5	-58.9		-58.7	0.2	-58.5
	Unrealized net gains (losses) on available for sale securities	-0.6	0.2	-0.4		-	-	-
	Total accumulated other comprehensive loss	$ (144.7)	$ (18.4)	$ (163.1)		$ (134.1)	$ 0.2	$ (133.9)


Changes In Accumulated Other Comprehensive Income (Loss)
	Changes in Accumulated Other Comprehensive Loss by Component (dollars in millions)

			Foreign currency translation adjustments		Changes in benefit plan net gain (loss) and prior service (cost) credit		Changes in fair values of derivatives qualifying as cash flow hedges		Unrealized net gains (losses) on available for sale securities	Total AOCI
	Balance as of December 31, 2014		$ (75.4)		$ (58.5)		$ -		$ -	$ (133.9)

	AOCI activity before reclassifications		-31.9		-0.4		-		-0.4	-32.7
	Amounts reclassified from AOCI		3.5		-		-		-	3.5
	Net current period AOCI		-28.4		-0.4		-		-0.4	-29.2

	Balance as of March 31, 2015		$ (103.8)		$ (58.9)		$ -		$ (0.4)	$ (163.1)

	Balance as of December 31, 2013		$ (49.4)		$ (24.1)		$ (0.2)		$ 0.1	$ (73.6)

	AOCI activity before reclassifications		-6.2		-		-		0.3	-5.9
	Amounts reclassified from AOCI		1.9		1.6		-		-	3.5
	Net current period AOCI		-4.3		1.6		-		0.3	-2.4

	Balance as of March 31, 2014		$ (53.7)		$ (22.5)		$ (0.2)		$ 0.4	$ (76.0)


Reclassification Out Of Accumulated Other Comprehensive Income
			Quarters Ended March 31,
			2015				2014			Affected Income Statement line item
			Gross Amount	Tax	Net Amount		Gross Amount	Tax	Net Amount
	Foreign currency translation adjustments gains (losses)		3.5	-	3.5		1.9	-	1.9	Operating Expenses
	Changes in benefit plan net gain/(loss) and prior service (cost)/credit gains (losses)		-	-	-		1.6	-	1.6	Other Income
	Changes in fair value of derivatives qualifying as cash flow hedges gains (losses)		-	-	-		-	-	-	Other Income
	Unrealized net gains (losses) on available for sale securities		-	-	-		-	-	-	Other Income
	Total Reclassifications out of AOCI		3.5	-	3.5		3.5	-	3.5

Commitments_Tables

Commitments (Tables)	3 Months Ended
Commitments (Tables)	Mar. 31, 2015
Commitments [Abstract]
Summary Of Credit-Related Commitments And Purchase And Funding Commitments

		31-Mar-15			December 31,
		Due to Expire			2014
		Within	After	Total	Total
		One Year	One Year	Outstanding	Outstanding
	Financing Commitments
	Financing assets	$ 1,200.2	$ 3,937.5	$ 5,137.7	$ 4,747.9
	Letters of credit
	Standby letters of credit	20.3	319.9	340.2	360.1
	Other letters of credit	26.2	-	26.2	28.3
	Guarantees
	Deferred purchase agreements	1,643.7	-	1,643.7	1,854.4
	Guarantees, acceptances and other recourse obligations	1.1	-	1.1	2.8
	Purchase and Funding Commitments
	Aerospace manufacturer purchase commitments	919.8	9,918.6	10,838.4	10,820.4
	Rail and other manufacturer purchase commitments	1,126.7	502.8	1,629.5	1,323.2

Business_Segment_Information_T

Business Segment Information (Tables)	3 Months Ended
Business Segment Information (Tables)	Mar. 31, 2015
Business Segment Information [Abstract]
Segment Profit And Assets	Segment Pre-tax Income (Loss) (dollars in millions)




		Transportation & International	North American	Non-Strategic	Corporate &	Total
		Finance	Commercial Finance	Portfolios	Other	CIT
	For the quarter ended March 31, 2015
	Interest income	$ 68.4	$ 196.1	$ 12.3	$ 4.2	$ 281.0
	Interest expense	-168.6	-74.1	-10.8	-17.8	-271.3
	Provision for credit losses	-10.6	-24	-	-	-34.6
	Rental income on operating leases	497.5	27.2	5.9	-	530.6
	Other income	34.3	66.3	-7.8	-6.4	86.4
	Depreciation on operating lease equipment	-136.1	-20.7	-	-	-156.8
	Maintenance and other operating lease expenses	-46.1	-	-	-	-46.1
	Operating expenses	-81.8	-134.7	-12.4	-12.7	-241.6
	Income (loss) from continuing operations before (provision) benefit for income taxes	$ 157.0	$ 36.1	$ (12.8)	$ (32.7)	$ 147.6
	Select Period End Balances
	Loans	$ 3,568.5	$ 15,860.8	$ -	$ -	$ 19,429.3
	Credit balances of factoring clients	-	-1,505.30	-	-	-1,505.30
	Assets held for sale	634.5	87.5	329.9	-	1,051.9
	Operating lease equipment, net	14,623.3	264.5	-	-	14,887.8
	For the quarter ended March 31, 2014
	Interest income	$ 76.7	$ 193.4	$ 28.4	$ 3.7	$ 302.2
	Interest expense	-160.7	-68.9	-24.9	-17.4	-271.9
	Provision for credit losses	-12.4	-23.2	-1	-0.1	-36.7
	Rental income on operating leases	459.6	22.8	9.5	-	491.9
	Other income	7.2	61.8	4.4	-2.3	71.1
	Depreciation on operating lease equipment	-121.7	-21.9	-5.2	-	-148.8
	Maintenance and other operating lease expenses	-51.6	-	-	-	-51.6
	Operating expenses	-79.5	-121.5	-19.2	-13.3	-233.5

	Income (loss) before benefit (provision) for income taxes	$ 117.6	$ 42.5	$ (8.0)	$ (29.4)	$ 122.7
	Select Period End Balances
	Loans	$ 3,553.5	$ 14,902.8	$ 115.4	$ -	$ 18,571.7
	Credit balances of factoring clients	-	-1,213.50	-	-	-1,213.50
	Assets held for sale	92.6	67.0	959.8	-	1,119.4
	Operating lease equipment, net	13,926.9	210.1	45.4	-	14,182.4

Business_And_Summary_Of_Signif2

Business And Summary Of Significant Accounting Policies (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014
Business And Summary Of Significant Accounting Policies [Abstract]
Immaterial error impacting disclosure of unearned income	$170

Discontinued_Operation_Narrati

Discontinued Operation (Narrative) (Details) (USD $)	3 Months Ended
Discontinued Operation (Narrative) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Discontinued Operation [Abstract]
Assets of discontinued operation	$0	$0
Extinguishment of debt	3,200,000,000
FSA	$224,000,000

Discontinued_Operation_Operati

Discontinued Operation (Operating Results Of Discontinued Operation) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Discontinued Operation [Abstract]
Total interest income	$21.20
Total interest expense	-19
Other income	3
Operating expenses	-2.2
Income (loss) from discontinued operation before provision for income taxes	3
Provision for income taxes	-0.7
Income from discontinued operation, net of taxes	$2.30

Loans_Narrative_Details

Loans (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Minimum consumer charge-offs past due, days	90 days
Maximum consumer charge-offs past due, days	150 days
Percentage of TDRs non-accrual	72.00%		75.00%
Carrying amount of loans acquired with deteriorated credit quality	$0.10		$1
Outstanding balance of loans acquired with deteriorated credit quality	15		16
Allowance for loan losses for loans acquired with deteriorated credit quality	0	1	0.5
Recorded investment of TDRs	14.6		17.2
Commitments to lend additional funds to borrowers	1		0.8
Troubled debt restructuring related to modifications	0.7	10.3
Troubled debt restructurings that subsequently defaulted within one year	0.3
Troubled debt restructuring, payment deferral rate	34.00%		35.00%
Troubled debt restructuring, covenant relief rate, other	66.00%		65.00%
Troubled debt restructuring, debt forgiveness rate			1.00%
North American Commercial Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of investments in Troubled Debt Restructurings ("TDR")	96.00%		91.00%
Allowance for loan losses for loans acquired with deteriorated credit quality		$1

Loans_Schedule_Of_Finance_Rece

Loans (Schedule Of Finance Receivables) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014		Mar. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014		Mar. 31, 2014
Loans [Abstract]
Loans	$14,384.90		$14,398.20
Direct financing leases and leveraged leases	5,044.40		5,096.80
Finance receivables	19,429.30		19,495		18,571.70
Finance receivables held for sale	773.2		779.9
Finance and held for sale receivables	$20,202.50	[1]	$20,274.90	[1]

[1]	Assets held for sale on the Balance Sheet includes finance receivables and operating lease equipment. As discussed in subsequent tables, since the Company manages the credit risk and collections of finance receivables held for sale consistently with its finance receivables held for investment, the aggregate amount is presented in this table.

Loans_Finance_Receivables_By_S

Loans (Finance Receivables By Segment, Based On Obligor Location) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$19,429.30	$19,495	$18,571.70
Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,568.50	3,558.90	3,553.50
North American Commercial Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	15,860.80	15,936	14,902.80
Non-Strategic Portfolios [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		0.1	115.4
Domestic [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	15,463.10	15,457.70
Domestic [Member] \| Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	797.1	812.6
Domestic [Member] \| North American Commercial Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	14,666	14,645.10
Foreign [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,966.20	4,037.30
Foreign [Member] \| Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,771.40	2,746.30
Foreign [Member] \| North American Commercial Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,194.80	1,290.90
Foreign [Member] \| Non-Strategic Portfolios [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		$0.10

Loans_Components_Of_Net_Invest

Loans (Components Of Net Investment In Finance Receivables) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Loans [Abstract]
Unearned income	($1,026.80)	($1,037.80)
Unamortized (discounts)	-20.3	-22
Net amortized deferred costs and (fees)	$53.10	$48.50

Loans_Finance_And_HeldForSale_

Loans (Finance And Held-For-Sale Receivables - By Risk Rating) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	$20,202.50	$20,274.90
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	17,929.50	18,109
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,508.80	1,393.30
Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	580.7	612.1
Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	183.5	160.5
Transportation And International Finance [Member] \| Transportation Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,963.20	2,952.90
Transportation And International Finance [Member] \| Transportation Finance [Member] \| Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,902.10	2,895.90
Transportation And International Finance [Member] \| Transportation Finance [Member] \| Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	36.4	12.8
Transportation And International Finance [Member] \| Transportation Finance [Member] \| Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	24.6	44.1
Transportation And International Finance [Member] \| Transportation Finance [Member] \| Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	0.1	0.1
Transportation And International Finance [Member] \| International Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	998.6	1,023.20
Transportation And International Finance [Member] \| International Finance [Member] \| Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	804.3	820.2
Transportation And International Finance [Member] \| International Finance [Member] \| Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	78.4	107.9
Transportation And International Finance [Member] \| International Finance [Member] \| Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	76.8	58
Transportation And International Finance [Member] \| International Finance [Member] \| Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	39.1	37.1
North American Commercial Finance [Member] \| Corporate Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	6,885.60	6,912.70
North American Commercial Finance [Member] \| Corporate Finance [Member] \| Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	6,000.10	6,199
North American Commercial Finance [Member] \| Corporate Finance [Member] \| Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	702.9	561
North American Commercial Finance [Member] \| Corporate Finance [Member] \| Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	138.1	121.8
North American Commercial Finance [Member] \| Corporate Finance [Member] \| Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	44.5	30.9
North American Commercial Finance [Member] \| Equipment Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,706.10	4,717.30
North American Commercial Finance [Member] \| Equipment Finance [Member] \| Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	4,146.50	4,129.10
North American Commercial Finance [Member] \| Equipment Finance [Member] \| Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	323.7	337.8
North American Commercial Finance [Member] \| Equipment Finance [Member] \| Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	164.8	180.4
North American Commercial Finance [Member] \| Equipment Finance [Member] \| Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	71.1	70
North American Commercial Finance [Member] \| Real Estate Finance [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,813.90	1,768.60
North American Commercial Finance [Member] \| Real Estate Finance [Member] \| Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,770.50	1,692
North American Commercial Finance [Member] \| Real Estate Finance [Member] \| Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	43.4	76.6
North American Commercial Finance [Member] \| Commercial Services [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,542.70	2,560.20
North American Commercial Finance [Member] \| Commercial Services [Member] \| Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	2,064.60	2,084.10
North American Commercial Finance [Member] \| Commercial Services [Member] \| Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	310.3	278.8
North American Commercial Finance [Member] \| Commercial Services [Member] \| Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	167.8	197.3
Subtotal [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	19,910.10	19,934.90
Subtotal [Member] \| Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	17,688.10	17,820.30
Subtotal [Member] \| Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	1,495.10	1,374.90
Subtotal [Member] \| Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	572.1	601.6
Subtotal [Member] \| Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	154.8	138.1
Non-Strategic Portfolios [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	292.4	340
Non-Strategic Portfolios [Member] \| Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	241.4	288.7
Non-Strategic Portfolios [Member] \| Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	13.7	18.4
Non-Strategic Portfolios [Member] \| Classified - Accruing [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	8.6	10.5
Non-Strategic Portfolios [Member] \| Classified- Non-accrual [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable	$28.70	$22.40

Loans_Schedule_Of_Finance_Rece1

Loans (Schedule Of Finance Receivables Delinquency Status) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	$164.50	$225.80
60-89 Days Past Due	42	52
90 Days or Greater	71.1	51.8
Total Past Due 30 Days Or Greater	277.6	329.6
Current	19,924.90	19,945.30
Total Finance Receivables	20,202.50	20,274.90
Subtotal [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	153.8	209.4
60-89 Days Past Due	38	45.1
90 Days or Greater	53.6	42.2
Total Past Due 30 Days Or Greater	245.4	296.7
Current	19,664.70	19,638.20
Total Finance Receivables	19,910.10	19,934.90
Non-Strategic Portfolios [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	10.7	16.4
60-89 Days Past Due	4	6.9
90 Days or Greater	17.5	9.6
Total Past Due 30 Days Or Greater	32.2	32.9
Current	260.2	307.1
Total Finance Receivables	292.4	340
Transportation Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	5.4	5.2
60-89 Days Past Due	7.7	1.9
90 Days or Greater	2.9	4.3
Total Past Due 30 Days Or Greater	16	11.4
Current	2,947.20	2,941.50
Total Finance Receivables	2,963.20	2,952.90
International Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	26.2	43.9
60-89 Days Past Due	7.4	7
90 Days or Greater	34.1	21.6
Total Past Due 30 Days Or Greater	67.7	72.5
Current	930.9	950.7
Total Finance Receivables	998.6	1,023.20
Corporate Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due		4.4
90 Days or Greater	2	0.5
Total Past Due 30 Days Or Greater	2	4.9
Current	6,883.60	6,907.80
Total Finance Receivables	6,885.60	6,912.70
Equipment Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	88.1	93.7
60-89 Days Past Due	21.6	32.9
90 Days or Greater	13.7	14.9
Total Past Due 30 Days Or Greater	123.4	141.5
Current	4,582.70	4,575.80
Total Finance Receivables	4,706.10	4,717.30
Real Estate Finance [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,813.90	1,768.60
Total Finance Receivables	1,813.90	1,768.60
Commercial Services [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	34.1	62.2
60-89 Days Past Due	1.3	3.3
90 Days or Greater	0.9	0.9
Total Past Due 30 Days Or Greater	36.3	66.4
Current	2,506.40	2,493.80
Total Finance Receivables	$2,542.70	$2,560.20

Loans_Finance_Receivables_On_N

Loans (Finance Receivables On Non-accrual Status) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	$183.50	$160.50
Repossessed assets	0.6	0.8
Total non-performing assets	184.1	161.3
Accruing loans past due 90 days or more	21.5	10.3
Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	137.7	123.4
Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	45.8	37.1
Subtotal [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	154.8	138.1
Subtotal [Member] \| Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	137.7	123.4
Subtotal [Member] \| Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	17.1	14.7
Non-Strategic Portfolios [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	28.7	22.4
Non-Strategic Portfolios [Member] \| Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	28.7	22.4
Transportation Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0.1	0.1
Transportation Finance [Member] \| Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0.1	0.1
International Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	39.1	37.1
International Finance [Member] \| Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	23.5	22.4
International Finance [Member] \| Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	15.6	14.7
Corporate Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	44.5	30.9
Corporate Finance [Member] \| Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	43	30.9
Corporate Finance [Member] \| Held For Sale [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	1.5
Equipment Finance [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	71.1	70
Equipment Finance [Member] \| Held For Investment [Member]
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	$71.10	$70

Loans_Impaired_Loans_Details

Loans (Impaired Loans) (Details) (USD $)	3 Months Ended		12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Recorded Investment	$67.80		$58	[1]
Unpaid Principal Balance	87.8		85.3	[1]
Related Allowance	14.8		12.9	[1]
Average Recorded Investment	63.1	282.9	217	[1]
Interest income recorded	0.4	0.7	10.1
Interest income recognized using cash basis method	0	0.4	0.7
Commercial Impaired Loans [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	67.7		56.8
Unpaid Principal Balance	73.1		69.5
Related Allowance	14.8		12.4
Average Recorded Investment	62.4	228.5	190.6
Loans Impaired At Convenience Date [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0.1		1.2
Unpaid Principal Balance	14.7		15.8
Related Allowance			0.5
Average Recorded Investment	0.7	54.4	26.4
Non-Strategic Portfolios [Member] \| With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		8.4	3.4
Transportation Finance [Member] \| With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment		14.9	9
International Finance [Member] \| With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	8.1		10.2
Unpaid Principal Balance	11.4		17
Average Recorded Investment	9.2	6	10.1
International Finance [Member] \| With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	8.1		6
Unpaid Principal Balance	8.1		6
Related Allowance	1.4		1
Average Recorded Investment	7.1		3.4
Corporate Finance [Member] \| With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0.6		1.2
Unpaid Principal Balance	0.6		1.2
Average Recorded Investment	0.9	130.6	104.9
Corporate Finance [Member] \| With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	42.5		29.6
Unpaid Principal Balance	43.6		34.3
Related Allowance	13.4		11.4
Average Recorded Investment	36.1	50.4	43.5
Equipment Finance [Member] \| With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	4.4		5.6
Unpaid Principal Balance	5.4		6.8
Average Recorded Investment	5	6.3	5.8
Commercial Services [Member] \| With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	4		4.2
Unpaid Principal Balance	4		4.2
Average Recorded Investment	4.1	8.8	6.9
Commercial Services [Member] \| With Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment			$2.80

[1]	Interest income recorded for the three months ended March 31, 2015 and 2014 while the loans were impaired was $0.4 million and $0.7 million, respectively, of which $0 and $0.4 million was interest recognized using the cash-basis method of accounting. Interest income recorded for the year ended December 31, 2014 while the loans were impaired was $10.1 million, of which $0.7 million was interest recognized using the cash-basis method of accounting.

Allowance_For_Loan_Losses_Sche

Allowance For Loan Losses (Schedule Of Allowance For Loan Losses And Recorded Investment In Finance Receivables) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014		Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$346.40
Provision for credit losses	34.6		36.7
Other	-3.6	[1]
Gross charge-offs	-26.6	[2]
Recoveries	5.7
Allowance balance - end of period	356.5	[3]	352.6	[3]
Allowance balance: Loans individually evaluated for impairment	14.8		25.7	[1]
Allowance balance: Loans collectively evaluated for impairment	341.7		325.9
Loans acquired with deteriorated credit quality--Allowance	0		1		0.5
Other reserves	37.3	[3]	31	[2],[3]
Finance receivables: Loans individually evaluated for impairment	67.7		219.6
Finance receivables: Loans collectively evaluated for impairment	19,361.50		18,297.40
Finance receivables: Loans acquired with deteriorated credit quality	0.1		54.7
Ending balance	19,429.30		18,571.70		19,495
Percent of loans to total loans	100.00%		100.00%
Gross charge-offs charged directly into specific allowance for loan losses	0		6
Transfer of loans to held for sale	-239.4		464.4
Transportation And International Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	46.8
Provision for credit losses	10.6		12.4
Other	-0.4	[1]
Gross charge-offs	-3.2	[2]
Recoveries	1.7
Allowance balance - end of period	55.5	[3]	45.7	[3]
Allowance balance: Loans individually evaluated for impairment	1.4		0.7	[1]
Allowance balance: Loans collectively evaluated for impairment	54.1		45
Other reserves	0.5	[3]	0.4	[2],[3]
Finance receivables: Loans individually evaluated for impairment	16.2		20.6
Finance receivables: Loans collectively evaluated for impairment	3,552.30		3,532.80
Finance receivables: Loans acquired with deteriorated credit quality	0		0.1
Ending balance	3,568.50		3,553.50		3,558.90
Percent of loans to total loans	18.40%		19.10%
North American Commercial Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	299.6
Provision for credit losses	24		23.2
Other	-3.2	[1]
Gross charge-offs	-23.4	[2]
Recoveries	4
Allowance balance - end of period	301	[3]	306.9	[3]
Allowance balance: Loans individually evaluated for impairment	13.4		25	[1]
Allowance balance: Loans collectively evaluated for impairment	287.6		280.9
Loans acquired with deteriorated credit quality--Allowance			1
Other reserves	36.8	[3]	30.6	[2],[3]
Finance receivables: Loans individually evaluated for impairment	51.5		192.4
Finance receivables: Loans collectively evaluated for impairment	15,809.20		14,657.60
Finance receivables: Loans acquired with deteriorated credit quality	0.1		52.8
Ending balance	15,860.80		14,902.80		15,936
Percent of loans to total loans	81.60%		80.30%
Gross charge-offs charged directly into specific allowance for loan losses			6
Non-Strategic Portfolios [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for credit losses	0		1
Recoveries	0
Allowance balance: Loans collectively evaluated for impairment	0		0
Finance receivables: Loans individually evaluated for impairment			6.6
Finance receivables: Loans collectively evaluated for impairment			107
Finance receivables: Loans acquired with deteriorated credit quality	0		1.8
Ending balance			115.4		0.1
Percent of loans to total loans	0.00%		0.60%
Corporate And Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for credit losses			$0.10

[1]	bOther reservesb represents additional credit loss reserves for unfunded lending commitments, letters of credit and for deferred purchase agreements, all of which is recorded in Other liabilities. bOtherb also includes changes relating to sales and foreign currency translations.
[2]	Gross charge-offs include $6 million charged directly to the Allowance for loan losses for the quarter ended March 31, 2014 and none in the quarter ended March 31, 2015. In 2014, $6 million related to NACF.
[3]	Represents loans considered impaired in FSA and are accounted for under the guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality).

Securities_Purchased_Under_Res1

Securities Purchased Under Resale Agreements (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Securities Purchased Under Resale Agreements [Abstract]
Securities purchased under agreements to resell	$450	$650

Investment_Securities_Narrativ

Investment Securities (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014	Dec. 31, 2014
Investment Securities [Abstract]
Realized investment gains	$0.70		$3.30
Interest bearing deposits that are cash equivalents	$5,393.30	[1]		$6,241.20	[1]

[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Companybs interests in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Companybs interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.

Investment_Securities_Schedule

Investment Securities (Schedule Of Investment Securities) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Investment Holdings [Line Items]
Debt securities available-for-sale	$949.80		$1,116.50
Equity securities available-for-sale	14.3		14
Debt securities held-to-maturity	320.1	[1]	352.3	[1]
Non-marketable equity investments	63.2	[2]	67.5	[2]
Total investment securities	1,347.40		1,550.30
Limited Partnerships [Member]
Investment Holdings [Line Items]
Non-marketable equity investments	$19.30		$19.70

[1]	Recorded at amortized cost less impairment on securities that have credit-related impairment.
[2]	Non-marketable equity investments include ownership interests greater than 3% in limited partnership investments that are accounted for under the equity method. Non-marketable equity investments include $19.3 million and $19.7 million in limited partnerships at March 31, 2015 and December 31, 2014, respectively, accounted for under the equity method. The remaining investments are carried at cost and include qualified Community Reinvestment Act (bCRAb) investments, equity fund holdings and shares issued by customers during loan work out situations or as part of an original loan investment.

Investment_Securities_Schedule1

Investment Securities (Schedule Of Interest And Dividends On Investments) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total interest and dividends	$8.60	$8.80
Interest Income - Interest Bearing Deposits [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total interest and dividends	4	4.6
Interest Income - Investments [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total interest and dividends	4.1	3.3
Dividends - Investments [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Total interest and dividends	$0.50	$0.90

Investment_Securities_Amortize

Investment Securities (Amortized Cost And Fair Value Of Securities Available-For-Sale) (Details) (USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$964.70	$1,130.50
Gross Unrealized Gains	0.4	0.6
Gross Unrealized Losses	-1	-0.6
Fair Value	964.1	1,130.50
U.S. Treasury [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		200
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value		200
U.S. Government Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	950	904.2
Gross Unrealized Gains
Gross Unrealized Losses	-0.7
Fair Value	949.3	904.2
Supranational And Foreign Government Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	0.5	12.3
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	0.5	12.3
Total Debt Securities Available For Sale [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	950.5	1,116.50
Gross Unrealized Gains
Gross Unrealized Losses	-0.7
Fair Value	949.8	1,116.50
Equity Securities AFS [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	14.2	14
Gross Unrealized Gains	0.4	0.6
Gross Unrealized Losses	-0.3	-0.6
Fair Value	$14.30	$14

Investment_Securities_Carrying

Investment Securities (Carrying Value And Fair Value Of Securities Held-To-Maturity) (Details) (USD $)	3 Months Ended		12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value	$320.10	[1]	$352.30	[1]
Gross Unrecognized Gains	9.9		11.7
Gross Unrecognized Losses	-1.9		-3.7
Fair Value	328.1		360.3
Mortgage-Backed Securities - U.S. Government-Sponsored Agency Guaranteed [Member]
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value	161.2		156.3
Gross Unrecognized Gains	2.5		2.5
Gross Unrecognized Losses	-1.4		-1.9
Fair Value	162.3		156.9
State And Municipal [Member]
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value	43.8		48.1
Gross Unrecognized Gains	0.1		0.1
Gross Unrecognized Losses	-0.5		-1.8
Fair Value	43.4		46.4
Foreign Government [Member]
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value	8.9		37.9
Gross Unrecognized Gains	0.1		0.1
Gross Unrecognized Losses
Fair Value	9		38
Corporate - Foreign [Member]
Schedule of Held-to-maturity Securities [Line Items]
Carrying Value	106.2		110
Gross Unrecognized Gains	7.2		9
Gross Unrecognized Losses
Fair Value	$113.40		$119

[1]	Recorded at amortized cost less impairment on securities that have credit-related impairment.

Investment_Securities_Amortize1

Investment Securities (Amortized Cost And Fair Value Of Debt Securities Held-To-Maturity By Contractual Maturity Dates) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity Securities, Total	$320.10	[1]	$352.30	[1]
Held-to-maturity Securities, Fair Value, Total	328.1		360.3
Maturity of investment securities with no stated maturities	10 years
Mortgage-Backed Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt securities HTM, due After 5 but within 10 years, Amortized Cost	1.3		1.3
Debt securities HTM, due After 5 but within 10 years, Fair Value	1.3		1.3
Debt securities HTM, due After 10 years, Amortized Cost	159.9		155
Debt securities HTM, due After 10 years, Fair Value	161		155.6
Held-to-maturity Securities, Total	161.2		156.3
Held-to-maturity Securities, Fair Value, Total	162.3		156.9
State And Municipal [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt securities HTM, Due within 1 year, Amortized Cost	1.1		1.2
Debt securities HTM, Due within 1 year, Fair Value	1.1		1.2
Debt securities HTM, due After 1 but within 5 years, Amortized Cost	2.6		2.9
Debt securities HTM, due After 1 but within 5 years, Fair Value	2.6		2.9
Debt securities HTM, due After 10 years, Amortized Cost	40.1		44
Debt securities HTM, due After 10 years, Fair Value	39.7		42.3
Held-to-maturity Securities, Total	43.8		48.1
Held-to-maturity Securities, Fair Value, Total	43.4		46.4
Foreign Government [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt securities HTM, Due within 1 year, Amortized Cost	6.5		10.8
Debt securities HTM, Due within 1 year, Fair Value	6.5		10.8
Debt securities HTM, due After 1 but within 5 years, Amortized Cost	2.4		27.1
Debt securities HTM, due After 1 but within 5 years, Fair Value	2.5		27.2
Held-to-maturity Securities, Total	8.9		37.9
Held-to-maturity Securities, Fair Value, Total	9		38
Corporate - Foreign [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt securities HTM, Due within 1 year, Amortized Cost	0.9		0.9
Debt securities HTM, Due within 1 year, Fair Value	0.9		0.9
Debt securities HTM, due After 1 but within 5 years, Amortized Cost	39.9		43.7
Debt securities HTM, due After 1 but within 5 years, Fair Value	44.9		49.8
Debt securities HTM, due After 5 but within 10 years, Amortized Cost	65.4		65.4
Debt securities HTM, due After 5 but within 10 years, Fair Value	67.6		68.3
Held-to-maturity Securities, Total	106.2		110
Held-to-maturity Securities, Fair Value, Total	$113.40		$119

[1]	Recorded at amortized cost less impairment on securities that have credit-related impairment.

LongTerm_Borrowings_Narrative_

Long-Term Borrowings (Narrative) (Details) (USD $)	3 Months Ended
Long-Term Borrowings (Narrative) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Revolving Credit Facility	$1,500,000,000
Number of domestic operating subsidiaries that are guarantors	8
Outstanding borrowings under Revolving Credit Facility	0		0
Available portion of line of credit	1,400,000,000
Revolving credit facility, minimum consolidated net worth covenant	6,000,000,000
Long term debt	16,658,300,000	[1]	18,455,800,000	[1]
Series C Notes [Member]
Debt Instrument [Line Items]
Repurchase all or portion of the notes at purchase price, Series A and C notes	101.00%
Long term debt	2,450,000,000
Line Of Credit Revolver [Member]
Debt Instrument [Line Items]
Revolving Credit Facility	1,150,000,000
Line Of Credit For Issuance Of Letters Of Credit [Member]
Debt Instrument [Line Items]
Revolving Credit Facility	350,000,000
Available portion of line of credit	100,000,000
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Long term debt	10,732,600,000	[1]	11,932,400,000	[1]
Other Debt [Member]
Debt Instrument [Line Items]
Long term debt	38,900,000
Minimum [Member]
Debt Instrument [Line Items]
Minimum guarantor asset coverage ratio under debt covenant	1.25
Maximum [Member]
Debt Instrument [Line Items]
LIBOR with no floor	2.50%
Minimum guarantor asset coverage ratio under debt covenant	1.5
FHLB Des Moines [Member]
Debt Instrument [Line Items]
Collateral pledged	$87,000,000
Base Rate Plus [Member] \| Maximum [Member]
Debt Instrument [Line Items]
LIBOR with no floor	1.50%

[1]	Senior Unsecured Notes at March 31, 2015 were comprised of $8,243.7 million of Unsecured Notes, $2,450.0 million of Series C Notes and $38.9 million of other unsecured debt.

LongTerm_Borrowings_Schedule_O

Long-Term Borrowings (Schedule Of Outstanding Long-Term Borrowings) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Long-term borrowings	$16,658.30	[1]	$18,455.80	[1]
CIT Group Inc. [Member]
Debt Instrument [Line Items]
Long-term borrowings	10,732.60	[1]
Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term borrowings	5,925.70	[1]
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Long-term borrowings	10,732.60	[1]	11,932.40	[1]
Senior Unsecured Notes [Member] \| CIT Group Inc. [Member]
Debt Instrument [Line Items]
Long-term borrowings	10,732.60	[1]
Series C Notes [Member]
Debt Instrument [Line Items]
Long-term borrowings	2,450
Unsecured Notes Issued After March 9, 2012 [Member]
Debt Instrument [Line Items]
Long-term borrowings	8,243.70
Other Debt [Member]
Debt Instrument [Line Items]
Long-term borrowings	38.9
Secured Borrowings - Excuding Student Loan Debt [Member]
Debt Instrument [Line Items]
Long-term borrowings	5,925.70		6,523.40
Secured Borrowings - Excuding Student Loan Debt [Member] \| Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term borrowings	$5,925.70

[1]	Senior Unsecured Notes at March 31, 2015 were comprised of $8,243.7 million of Unsecured Notes, $2,450.0 million of Series C Notes and $38.9 million of other unsecured debt.

LongTerm_Borrowings_Schedule_O1

Long-Term Borrowings (Schedule Of Senior Unsecured Notes) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Series C Notes [Member] \| February 2019 - 5.500% [Member]
Debt Instrument [Line Items]
Maturity Date	February 2019*	[1]
Rate (%)	5.50%	[1]
Date of Issuance	Feb-12	[1]
Par Value	$1,750,000,000	[1]
Series C Notes [Member] \| February 2019 - 3.875% [Member]
Debt Instrument [Line Items]
Maturity Date	Feb-19	[1]
Rate (%)	3.88%	[1]
Date of Issuance	Feb-14	[1]
Par Value	1,000,000,000	[1]
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Maturity Date	Weighted average coupon rate and total
Par Value	10,700,000,000
Weighted Average Rate (%)	5.02%
Senior Unsecured Notes [Member] \| May 2017 - 5.00% [Member]
Debt Instrument [Line Items]
Maturity Date	May-17	[1]
Rate (%)	5.00%	[1]
Date of Issuance	May-12	[1]
Par Value	1,250,000,000	[1]
Senior Unsecured Notes [Member] \| August 2017 - 4.250%[Member]
Debt Instrument [Line Items]
Maturity Date	Aug-17
Rate (%)	4.25%
Date of Issuance	Aug-12
Par Value	1,750,000,000
Senior Unsecured Notes [Member] \| March 2018 - 5.250% [Member]
Debt Instrument [Line Items]
Maturity Date	Mar-18
Rate (%)	5.25%
Date of Issuance	Mar-12
Par Value	1,500,000,000
Senior Unsecured Notes [Member] \| April 2018 - 6.625% [Member]
Debt Instrument [Line Items]
Maturity Date	April 2018*
Rate (%)	6.63%
Date of Issuance	Mar-11
Par Value	700,000,000
Senior Unsecured Notes [Member] \| May 2020 - 5.375% [Member]
Debt Instrument [Line Items]
Maturity Date	May-20
Rate (%)	5.38%
Date of Issuance	May-12
Par Value	750,000,000
Senior Unsecured Notes [Member] \| August 2022 - 5.000% [Member]
Debt Instrument [Line Items]
Maturity Date	Aug-22
Rate (%)	5.00%
Date of Issuance	Aug-12
Par Value	1,250,000,000
Senior Unsecured Notes [Member] \| August 2023 - 5.000% [Member]
Debt Instrument [Line Items]
Maturity Date	Aug-23
Rate (%)	5.00%
Date of Issuance	Aug-13
Par Value	$750,000,000

[1]	* Series C Unsecured Notes

LongTerm_Borrowings_Schedule_O2

Long-Term Borrowings (Schedule Of Secured Borrowings And Pledged Assets) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	$5,925,700,000	[1],[2]	$6,523,400,000	[1],[2]
Assets Pledged	10,357,300,000	[1],[2]	10,527,700,000	[1],[2]
Pledged assets held for sale	12,400,000,000
Loans [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Pledged assets held for sale	6,600,000,000
Operating Lease Assets [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Pledged assets held for sale	4,800,000,000
Cash [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Pledged assets held for sale	800,000,000
Investment Securities [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Pledged assets held for sale	200,000,000
Transportation And International Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	4,002,900,000	[1],[2]	4,136,400,000	[1],[2]
Assets Pledged	6,033,200,000	[1],[2]	6,220,700,000	[1],[2]
Transportation And International Finance [Member] \| Rail [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	1,125,900,000	[1],[2]	1,179,700,000	[1],[2]
Assets Pledged	1,516,100,000	[1],[2]	1,575,700,000	[1],[2]
Transportation And International Finance [Member] \| Aerospace [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	2,348,600,000	[1],[2]	2,411,700,000	[1],[2]
Assets Pledged	3,790,700,000	[1],[2]	3,914,400,000	[1],[2]
Transportation And International Finance [Member] \| International Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	528,400,000	[1],[2]	545,000,000	[1],[2]
Assets Pledged	726,400,000	[1],[2]	730,600,000	[1],[2]
Transportation And International Finance [Member] \| TRS [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	1,200,000
Assets Pledged	1,800,000
North American Commercial Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	1,922,800,000	[1],[2]	2,387,000,000	[1],[2]
Assets Pledged	4,324,100,000	[1],[2]	4,307,000,000	[1],[2]
North American Commercial Finance [Member] \| Corporate Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	86,700,000	[1],[2]	129,700,000	[1],[2]
Assets Pledged	149,400,000	[1],[2]	141,600,000	[1],[2]
North American Commercial Finance [Member] \| Real Estate Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing			125,000,000	[1],[2]
Assets Pledged	167,600,000	[1],[2]	168,000,000	[1],[2]
North American Commercial Finance [Member] \| Commercial Services [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	334,700,000	[1],[2]	334,700,000	[1],[2]
Assets Pledged	1,917,400,000	[1],[2]	1,644,600,000	[1],[2]
North American Commercial Finance [Member] \| Equipment Finance [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	1,501,400,000	[1],[2]	1,797,600,000	[1],[2]
Assets Pledged	$2,089,700,000	[1],[2]	$2,352,800,000	[1],[2]

[1]	As part of our liquidity management strategy, we pledge assets to secure financing transactions (which include securitizations), borrowings from the FHLB and FRB, and for other purposes as required or permitted by law.
[2]	At March 31, 2015 we had pledged assets (including collateral for the FRB discount window not in the table above) of $12.4 billion, which included $6.6 billion of loans (including amounts held for sale), $4.8 billion of operating lease assets, $0.8 billion of cash and $0.2 billion of investment securities.

Derivative_Financial_Instrumen2

Derivative Financial Instruments (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Maximum aggregate facility commitment amounts	$2,125,000,000
Aggregate actual adjusted qualifying borrowing base outstanding	1,018,200,000	1,033,100,000
Extinguishment of debt	3,200,000,000
Liability recorded based on Company's valuation	25,500,000	24,500,000
TRS [Member]
Derivative [Line Items]
Number of derivative financing facilities	2
Number of wholly owned subsidiaries	2
Notional amount of derivative	1,106,800,000
TRS [Member] \| CIT Financial, Ltd. Facility [Member]
Derivative [Line Items]
Unutilized portion of facility accounted for as a derivative	1,500,000,000
TRS [Member] \| CIT TRS Funding B.V. [Member]
Derivative [Line Items]
Unutilized portion of facility accounted for as a derivative	$625,000,000

Derivative_Financial_Instrumen3

Derivative Financial Instruments (Fair And Notional Values Of Derivative Financial Instruments) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
TRS [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$1,106.80
Qualifying Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	1,063.40	[1]	1,193.10	[1]
Asset Fair Value	97.7	[1]	74.7	[1]
Liability Fair Value	-0.9	[1]	0	[1]
Qualifying Hedges [Member] \| Foreign Currency Forward Exchange - Net Investment Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	1,063.40	[1]	1,193.10	[1]
Asset Fair Value	97.7	[1]	74.7	[1]
Liability Fair Value	-0.9	[1]
Non-Qualifying Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	8,755.30	[1]	8,683.60	[1]
Asset Fair Value	101.7	[1]	93.3	[1]
Liability Fair Value	-66.6	[1]	-62.3	[1]
Non-Qualifying Hedges [Member] \| Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	2,117.20	[1]	1,902	[1]
Asset Fair Value	19.5	[1]	15.2	[1]
Liability Fair Value	-27.6	[1]	-23.1	[1]
Non-Qualifying Hedges [Member] \| Written Options [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	2,952.50	[1]	2,711.50	[1]
Liability Fair Value	-1.9	[1]	-2.7	[1]
Non-Qualifying Hedges [Member] \| Purchased Options [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	1,059.80	[1]	948.4	[1]
Asset Fair Value	0.5	[1]	0.8	[1]
Non-Qualifying Hedges [Member] \| Foreign Currency Forward Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	1,518	[1]	2,028.80	[1]
Asset Fair Value	81.6	[1]	77.2	[1]
Liability Fair Value	-11.6	[1]	-12	[1]
Non-Qualifying Hedges [Member] \| TRS [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	1,106.80	[1]	1,091.90	[1]
Liability Fair Value	-25.5	[1]	-24.5	[1]
Non-Qualifying Hedges [Member] \| Equity Warrants [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	1	[1]	1	[1]
Asset Fair Value	0.1	[1]	0.1	[1]
Qualifying And Non-Qualifying Hedges [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	9,818.70	[1]	9,876.70	[1]
Asset Fair Value	199.4	[1]	168	[1]
Liability Fair Value	($67.50)	[1]	($62.30)	[1]

[1]	Presented on a gross basis

Derivative_Financial_Instrumen4

Derivative Financial Instruments (Offsetting Of Derivative Assets And Liabilities) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Derivative Financial Instruments [Abstract]
Gross Amount Recognized, Derivative assets	$199.40		$168
Gross Amount Offset on the Statement of Financial Position, Derivative assets
Net Amount Of Asset Presented On The Statement Of Financial Position, Derivative assets	199.4		168
Gross Amounts not offset on Statement Of Financial Position, Financial Instruments, Derivative assets	-13.2	[1]	-13.6	[1]
Gross Amounts not offset on Statement of Financial Position, Cash Collateral Received (Pledged), Derivative assets	-163.9	[1],[2]	-137.3	[1],[2]
Gross Amounts not offset on Statement of Financial Position, Net Amount, Derivative assets	22.3		17.1
Gross Amount Recognized, Derivative liabilities	-67.5		-62.3
Gross Amount Offset on the Statement of Financial Position, Derivative liabilities
Net Amount of (Liability) Presented on the Statement of Finacial Position, Derivative liabilities	-67.5		-62.3
Gross Amounts not offset on Statement Of Financial Position, Financial Instruments, Derivative liabilities	13.2	[1]	13.6	[1]
Gross Amounts not offset on Statement of Financial Position, Cash Collateral Received (Pledged), Derivative liabilities	14.7	[1],[2]	8.7	[1],[2]
Gross Amounts not offset on Statement of Financial Position, Net Amount, Derivative liabilities	($39.60)		($40)

[1]	The Companybs derivative transactions are governed by ISDA agreements that allow for net settlements of certain payments as well as offsetting of all contracts (bDerivative Financial Instrumentsb) with a given counterparty in the event of bankruptcy or default of one of the two parties to the transaction. We believe our ISDA agreements meet the definition of a master netting arrangement or similar agreement for purposes of the above disclosure. In conjunction with the ISDA agreements, the Company has entered into collateral arrangements with its counterparties which provide for the exchange of cash depending on the change in the market valuation of the derivative contracts outstanding. Such collateral is available to be applied in settlement of the net balances upon an event of default by one of the counterparties.
[2]	Collateral pledged or received is included in Other assets or Other liabilities, respectively.

Derivative_Financial_Instrumen5

Derivative Financial Instruments (Derivative Instrument Gains And Losses) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	$85.50	$36
Interest Rate Options [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	0.5	-0.1
Non-Qualifying Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	85.5	36
Non-Qualifying Hedges [Member] \| Cross Currency Swaps - Net Investment Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact		5.1
Non-Qualifying Hedges [Member] \| Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	-0.2	3.8
Non-Qualifying Hedges [Member] \| Foreign Currency Forward Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	86.2	29.1
Non-Qualifying Hedges [Member] \| Equity Warrants [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact		-0.2
Non-Qualifying Hedges [Member] \| TRS [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instrument - income statement impact	($1)	($1.70)

Derivative_Financial_Instrumen6

Derivative Financial Instruments (Changes In AOCI Relating To Derivatives) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives - effective portion reclassified from AOCI to income	$4.20	($3.10)
Hedge ineffectiveness recorded directly in income
Total income statement impact	4.2	-3.1
Derivatives - effective portion recorded in OCI	83.8	6.3
Total change in OCI for the period	79.6	9.4
Foreign Currency Forward Contracts - Net Investment Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives - effective portion reclassified from AOCI to income	4.2	-3.1
Hedge ineffectiveness recorded directly in income
Total income statement impact	4.2	-3.1
Derivatives - effective portion recorded in OCI	83.8	4.5
Total change in OCI for the period	79.6	7.6
Cross Currency Swaps - Net Investment Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Hedge ineffectiveness recorded directly in income
Derivatives - effective portion recorded in OCI		1.8
Total change in OCI for the period		$1.80

Fair_Value_Assets_And_Liabilit

Fair Value (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities AFS	$949.80	$1,116.50
Equity Securities AFS	14.3	14
Fair Value Measurements Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities AFS	949.8	1,116.50
Equity Securities AFS	14.3	14
Trading assets at fair value - derivatives	101.7	93.3
Derivative counterparty assets at fair value	97.7	74.7
Total Assets	1,163.50	1,298.50
Trading liabilities at fair value - derivatives	-66.6	-62.3
Derivative counterparty liabilities at fair value	-0.9
Total Liabilities	-67.5	-62.3
Fair Value Measurements Recurring [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities AFS	0.5	212.3
Equity Securities AFS	14.3	14
Total Assets	14.8	226.3
Fair Value Measurements Recurring [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities AFS	949.3	904.2
Trading assets at fair value - derivatives	101.7	93.3
Derivative counterparty assets at fair value	97.7	74.7
Total Assets	1,148.70	1,072.20
Trading liabilities at fair value - derivatives	-39.5	-35.7
Derivative counterparty liabilities at fair value	-0.9
Total Liabilities	-40.4	-35.7
Fair Value Measurements Recurring [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities AFS
Equity Securities AFS
Trading assets at fair value - derivatives
Derivative counterparty assets at fair value
Total Assets
Trading liabilities at fair value - derivatives	-27.1	-26.6
Derivative counterparty liabilities at fair value
Total Liabilities	($27.10)	($26.60)

Fair_Value_Assets_Measured_At_

Fair Value (Assets Measured At Fair Value On A Non-Recurring Basis) (Details) (Fair Value Measurements Non-Recurring [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Held for Sale	$411.90	$949.60
Impaired loans	21	13.2
Total	432.9	962.8
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Held for Sale	411.9	949.6
Impaired loans	21	13.2
Total	432.9	962.8
Total Gains And (Losses) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Held for Sale	-10.4	-73.6
Impaired loans	-5.4	-4.9
Total	($15.80)	($78.50)

Fair_Value_Changes_In_The_Esti

Fair Value (Changes In The Estimated Fair Value Of The Financial Assets And Liabilities Measured On A Recurring Basis) (Details) (Fair Value Measurements Recurring [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Fair Value Measurements Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	($26.60)	($9.70)
Gains or losses realized/unrealized Included in Other Income	-0.5	-1.7
Ending Balance	($27.10)	($11.40)

Fair_Value_Carrying_And_Estima

Fair Value (Carrying And Estimated Fair Values Of Financial Instruments) (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015		Dec. 31, 2014		Mar. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment Securities	$1,347,400,000		$1,550,300,000
Other assets subject to fair value disclosure and unsecured counterparty receivables	199,400,000		168,000,000
Deposits	-16,758,100,000		-15,849,800,000
Credit balances of factoring clients	-1,505,300,000		-1,622,100,000		-1,213,500,000
Other liabilities subject to fair value disclosure	-2,735,200,000		-2,888,800,000
Unpaid Principal Balance	87,800,000		85,300,000	[1]
Impaired loans carrying amount	53,000,000		45,100,000
Carrying amount of impaired loans percentage of unpaid principal balance	60.00%		53.00%
Fair value of loans, percentage	98.10%		97.90%
Principal balance unpaid on impaired loans	87,800,000		85,300,000	[1]
Impaired loans unpaid principal balance with no specific allowance	21,400,000		29,200,000
Impaired loans carrying value with no specific allowance	17,100,000		21,200,000
Fair Value Measurements Non-Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)	411,900,000		949,600,000
Fair Value Measurements Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative counterparty assets at fair value	97,700,000		74,700,000
Derivative counterparty liabilities at fair value	-900,000
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets at fair value - non-qualifying hedges	101,700,000		93,300,000
Derivative counterparty assets at fair value	97,700,000		74,700,000
Assets held for sale (excluding leases)	129,700,000		67,000,000
Fair value of loans	14,217,000,000		14,379,500,000
Securities purchased under agreements to resell	450,000,000		650,000,000
Investment Securities	1,347,400,000	[2]	1,550,300,000
Other assets subject to fair value disclosure and unsecured counterparty receivables	906,700,000	[2]	886,200,000
Deposits	-16,809,200,000	[3]	-15,891,400,000
Trading liabilities at fair value - derivatives	-66,600,000		-62,300,000
Derivative counterparty liabilities at fair value	-900,000
Long-term borrowings	-16,778,800,000	[3]	-18,657,900,000
Credit balances of factoring clients	-1,505,300,000	[4]	-1,622,100,000
Other liabilities subject to fair value disclosure	-1,965,600,000		-2,066,800,000
Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets at fair value - non-qualifying hedges	101,700,000		93,300,000
Derivative counterparty assets at fair value	97,700,000		74,700,000
Assets held for sale (excluding leases)	138,400,000		67,200,000
Fair value of loans	13,940,900,000		14,076,200,000
Securities purchased under agreements to resell	450,400,000		650,000,000
Investment Securities	1,355,400,000	[2]	1,558,300,000
Other assets subject to fair value disclosure and unsecured counterparty receivables	906,700,000	[2]	886,200,000
Deposits	-17,129,000,000	[3]	-16,105,700,000
Trading liabilities at fair value - derivatives	-66,600,000		-62,300,000
Derivative counterparty liabilities at fair value	-900,000
Long-term borrowings	-17,310,900,000	[3]	-19,244,400,000
Credit balances of factoring clients	-1,505,300,000	[4]	-1,622,100,000
Other liabilities subject to fair value disclosure	-1,965,600,000		-2,066,800,000
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured borrowings	10,800,000,000
Level 1 [Member] \| Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment Securities	227,000,000	[2]	464,900,000
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured borrowings			12,000,000,000
Secured long-term borrowings	2,800,000,000		3,300,000,000
Level 2 [Member] \| Fair Value Measurements Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative counterparty assets at fair value	97,700,000		74,700,000
Derivative counterparty liabilities at fair value	-900,000
Level 2 [Member] \| Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets at fair value - non-qualifying hedges	101,700,000		93,300,000
Derivative counterparty assets at fair value	97,700,000		74,700,000
Assets held for sale (excluding leases)	5,700,000
Fair value of loans	1,639,000,000		1,585,400,000
Securities purchased under agreements to resell	450,400,000		650,000,000
Investment Securities	996,200,000	[2]	956,000,000
Trading liabilities at fair value - derivatives	-39,500,000		-35,700,000
Derivative counterparty liabilities at fair value	-900,000
Long-term borrowings	-14,121,800,000	[3]	-15,906,300,000
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured borrowings	3,100,000,000
Secured long-term borrowings			3,200,000,000
Level 3 [Member] \| Fair Value Measurements Non-Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)	411,900,000		949,600,000
Level 3 [Member] \| Fair Value Measurements Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative counterparty assets at fair value
Derivative counterparty liabilities at fair value
Level 3 [Member] \| Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets held for sale (excluding leases)	132,700,000		67,200,000
Fair value of loans	12,301,900,000		12,490,800,000
Investment Securities	132,200,000	[2]	137,400,000
Other assets subject to fair value disclosure and unsecured counterparty receivables	906,700,000	[2]	886,200,000
Deposits	-17,129,000,000	[3]	-16,105,700,000
Trading liabilities at fair value - derivatives	-27,100,000		-26,600,000
Long-term borrowings	-3,189,100,000	[3]	-3,338,100,000
Credit balances of factoring clients	-1,505,300,000	[4]	-1,622,100,000
Other liabilities subject to fair value disclosure	($1,965,600,000)		($2,066,800,000)

[1]	Interest income recorded for the three months ended March 31, 2015 and 2014 while the loans were impaired was $0.4 million and $0.7 million, respectively, of which $0 and $0.4 million was interest recognized using the cash-basis method of accounting. Interest income recorded for the year ended December 31, 2014 while the loans were impaired was $10.1 million, of which $0.7 million was interest recognized using the cash-basis method of accounting.
[2]	Other assets subject to fair value disclosure primarily include accrued interest receivable and miscellaneous receivables. These assets have carrying values that approximate fair value generally due to the short-term nature and are classified as level 3. The unsecured counterparty receivables primarily consist of amounts owed to CIT from GSI for debt discount, return of collateral posted to GSI and settlements resulting from market value changes to asset-backed securities underlying the GSI Facilities
[3]	Deposits and long-term borrowings include accrued interest, which is included in "Other liabilities" in the Balance Sheet.
[4]	Other liabilities subject to fair value disclosure include accounts payable, accrued liabilities, customer security and maintenance deposits and miscellaneous liabilities. The fair value of these approximate carrying value and are classified as level 3.

Regulatory_Capital_Narrative_D

Regulatory Capital (Narrative) (Details)	3 Months Ended
	Mar. 31, 2015
	item
Number of risk-weighting categories	4
CET1 miinimum ratio	4.50%
Tier 1 Capital minimum ratio	6.00%
Total Capital minimum ratio	8.00%
Capital conservation buffer future yearly increase, percentage	0.63%
Final future percentage of capital conservation buffer	2.50%
US Government and Government Agencies and Authorities [Member]
Risk rating category percentage	0.00%
Credit-Enhancing Interest-Only Strips Or Unsettled Security/Commodity Transactions [Member]
Risk rating category percentage	1250.00%
Minimum [Member]
Risk rating category percentage	0.00%
Midpoint 1 [Member]
Risk rating category percentage	20.00%
Midpoint 2 [Member]
Risk rating category percentage	50.00%
Maximum [Member]
Risk rating category percentage	100.00%

Regulatory_Capital_Components_

Regulatory Capital (Components Of Tier 1 Capital And Total Capital) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014	Mar. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014	Mar. 31, 2014
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total stockholders' equity	$8,758.60		$9,068.90
Less: Goodwill	-563.6		-571.3
Qualifying allowance for credit losses and other reserves	356.5	[1]	346.4	352.6	[1]
Common Equity Tier 1 Capital (to risk-weighted assets)	4.50%
Total Capital (to risk-weighted assets), Actual	8.00%
Tier 1 Capital (to risk-weighted assets), Actual	6.00%
Percentage of net unrealized pretax gains permitted in Tier 2 capital on AFS equity securities	45.00%			45.00%
CIT Group Inc [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total stockholders' equity	8,758.60		9,068.90
Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interest	59.8		53
Adjusted total equity	8,818.40		9,121.90
Less: Goodwill	-482.8		-571.3
Disallowed deferred tax assets	-358.3		-416.8
Disallowed intangible assets	-9.3		-25.7
Investment in certain unconsolidated subsidiaries			-36.7
Other Tier 1 components			-4.1
Common Equity Tier One Capital	-7,968		-8,067.30
Tier 1 Capital	7,968		8,067.30
Qualifying allowance for credit losses and other reserves	393.8		381.8
Other Tier 2 components	0.1
Total qualifying capital	8,361.90		8,412.40
Risk-weighted assets	56,059.50		55,480.90
Common Equity Tier 1 Capital (to risk-weighted assets)	14.20%
Required Ratio for Capital Adequacy Purposes to be well capitalized	7.00%
Total Capital (to risk-weighted assets), Actual	14.90%		15.20%
Required Ratio for Capital Adequacy purposes to be well capitalized	10.50%		10.00%
Tier 1 Capital (to risk-weighted assets), Actual	14.20%		14.50%
Required Ratio for Capital Adequacy Purposes to be well capitalized	8.50%		6.00%
Tier 1 Leverage Ratio, Actual	17.20%		17.40%
Required Ratio for Capital Adequacy Purposes	4.00%		4.00%
CIT Bank [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total stockholders' equity	2,748.10		2,716.40
Effect of certain items in accumulated other comprehensive loss excluded from Tier 1 Capital and qualifying noncontrolling interest	0.3		-0.2
Adjusted total equity	2,748.40		2,716.20
Less: Goodwill	-167.9		-167.8
Disallowed intangible assets	-2.6		-12.1
Common Equity Tier One Capital	-2,577.90		-2,536.30
Tier 1 Capital	2,577.90		2,536.30
Qualifying allowance for credit losses and other reserves	250.6		245.1
Other Tier 2 components	0.1		0.1
Total qualifying capital	2,828.60		2,781.50
Risk-weighted assets	$19,982		$19,552.30
Common Equity Tier 1 Capital (to risk-weighted assets)	12.90%
Required Ratio for Capital Adequacy Purposes to be well capitalized	7.00%
Total Capital (to risk-weighted assets), Actual	14.20%		14.20%
Required Ratio for Capital Adequacy purposes to be well capitalized	10.50%		10.00%
Tier 1 Capital (to risk-weighted assets), Actual	12.90%		13.00%
Required Ratio for Capital Adequacy Purposes to be well capitalized	8.50%		6.00%
Tier 1 Leverage Ratio, Actual	12.10%		12.20%
Required Ratio for Capital Adequacy Purposes	4.00%		4.00%

[1]	Represents loans considered impaired in FSA and are accounted for under the guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality).

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
Income Taxes (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, Percent	29.80%	11.30%
Provision for income taxes	($44,000,000)	($13,500,000)
Net operating loss (NOL) carry forwards			5,700,000,000
Annual limitation on use of NOLs	264,700,000
Liability for uncertain tax positions	49,400,000		53,700,000
Liability for uncertain tax positions, reduction amount	15,000,000
Accrual for interest and penalties	12,700,000		13,300,000
Pre-Emergence [Member]
Income Tax Contingency [Line Items]
Net operating loss (NOL) carry forwards			3,000,000,000
No Longer Subject To Annual Limitation [Member] \| Pre-Emergence [Member]
Income Tax Contingency [Line Items]
Net operating loss (NOL) carry forwards	1,000,000,000
Domestic Tax Authority [Member]
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance			1,000,000,000
U.S. Federal [Member]
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance			700,000,000
U.S. Federal [Member] \| Pre-Emergence [Member]
Income Tax Contingency [Line Items]
Operating Loss Carryforwards			300,000,000
Foreign Tax Authority [Member]
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance	$141,000,000

Stockholders_Equity_Narrative_

Stockholders' Equity (Narrative) (Details) (USD $)	3 Months Ended
Stockholders' Equity (Narrative) (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014
Stockholders' Equity [Abstract]
Change in income taxes associated with net unrealized gains on available for sale securities	$200,000	($100,000)
Changes in benefit plans net gain/(loss) and prior service (cost)/credit	0	1,600,000
Foreign currency translation reclassification adjustments	3,500,000	1,900,000
Foreign currency translation reclassification adjustments, tax	-19,100,000	0
Benefit plans net gain/(loss) and prior service (cost), tax	300,000	0
Unrealized gains (losses) on investments net of reclassification adjustments of net gains	0	0
Income taxes associated with changes in fair values of derivatives qualifying as cash flow hedges	0	0
Reclassification adjustments impacting net income related to changes in fair value of derivatives qualifying as cash flow hedges	$0	$0

Stockholders_Equity_Components

Stockholders' Equity (Components Of Accumulated Other ComprehensiveIncome (Loss)) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Stockholders' Equity [Abstract]
Foreign currency translation adjustments, Gross Unrealized	($84.70)	($75.40)
Changes in benefit plan net gain/(loss) and prior service (cost)/credit, Gross Unrealized	-59.4	-58.7
Unrealized net gains (losses) on available for sale securities, Gross Unrealized	-0.6
Total accumulated other comprehensive loss, Gross Unrealized	-144.7	-134.1
Foreign currency translation adjustments, Income Taxes	-19.1
Changes in benefit plan net gain/(loss) and prior service (cost)/credit, Income Taxes	0.5	0.2
Unrealized net gains (losses) on available for sale securities, Income Taxes	0.2
Total accumulated other comprehensive loss, Income Taxes	-18.4	0.2
Foreign currency translation adjustments, Net Unrealized	-103.8	-75.4
Changes in benefit plan net gain/(loss) and prior service (cost)/credit, Net Unrealized	-58.9	-58.5
Unrealized net gains (losses) on available for sale securities, Net Unrealized	-0.4
Total accumulated other comprehensive loss, Net Unrealized	($163.10)	($133.90)	($76)	($73.60)

Stockholders_Equity_Changes_In

Stockholders' Equity (Changes In Accumulated Other Comprehensive Income By Component) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	($133.90)	($73.60)
AOCI activity before reclassification	-32.7	-5.9
Amounts reclassified from AOCI	3.5	3.5
Net current period AOCI	-29.2	-2.4
Balance	-163.1	-76
Changes In Benefit Plan Net Gain/(Loss) And Prior Service (Cost)/Credit [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	-75.4	-49.4
AOCI activity before reclassification	-31.9	-6.2
Amounts reclassified from AOCI	3.5	1.9
Net current period AOCI	-28.4	-4.3
Balance	-103.8	-53.7
Foreign Currency Translation Adjustments[Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	-58.5	-24.1
AOCI activity before reclassification	-0.4
Amounts reclassified from AOCI		1.6
Net current period AOCI	-0.4	1.6
Balance	-58.9	-22.5
Unrealized Gains (Losses) On Available For Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			-0.2
Balance		-0.2	-0.2
Changes In Fair Values Of Derivatives Qualifying As Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		0.1
AOCI activity before reclassification	-0.4	0.3
Net current period AOCI	-0.4	0.3
Balance	($0.40)	$0.40

Stockholders_Equity_Reclassifi

Stockholders' Equity (Reclassifications Out Of Accumulated Other Comprehensive Income) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount	$3.50	$3.50
Net Amount	3.5	3.5
Foreign Currency Translation Adjustments[Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount		1.6
Foreign Currency Translation Adjustments[Member] \| Operating Expense [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount	3.5	1.9
Net Amount	3.5	1.9
Changes In Benefit Plan Net Gain/(Loss) And Prior Service (Cost)/Credit [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount	3.5	1.9
Changes In Benefit Plan Net Gain/(Loss) And Prior Service (Cost)/Credit [Member] \| Other Expense [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
(Gains)/Losses, Gross Amount		1.6
Net Amount		$1.60

Commitments_Narrative_Details

Commitments (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014
	Mar. 31, 2015	Dec. 31, 2014	item
Commitments [Line Items]
Financing commitments on which criteria for funding have not been completed	$799,000,000	$355,000,000
Typical notice period	90 days
Financing commitments to Trade Finance clients that are cancelable only after a notice period, amount	275,000,000	112,000,000
Additional funding commitments	1,400,000,000	1,300,000,000
Trade receivable terms	60 days
DPA credit protection provided to clients	1,562,000,000	1,775,000,000
DPA credit line agreements net of Deferred Purchase Agreement credit protection	82,000,000	79,000,000
DPA credit line agreements, cancellation notice period	90 days
Other liabilities	2,735,200,000	2,888,800,000
Aircraft remaining to be purchased, contractual commitments			154
Equipment purchase commitment	200,000,000
Deferred Purchase Agreements [Member]
Commitments [Line Items]
Other liabilities	$4,900,000	$5,200,000
Contractual Commitments [Member]
Commitments [Line Items]
Railcars	12,400

Commitments_Summary_Of_CreditR

Commitments (Summary Of Credit-Related Commitments And Purchase And Funding Commitments) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Commitments [Abstract]
Financing and leasing assets - Due to Expire Within One Year	$1,200.20
Financing and leasing assets - Due to Expire After One Year	3,937.50
Financing and leasing assets - Total Outstanding	5,137.70	4,747.90
Standby letters of credit - Due to Expire Within One Year	20.3
Standby letters of credit - Due to Expire After One Year	319.9
Standby letters of credit - Total Outstanding	340.2	360.1
Other letters of credit - Due to Expire Within One Year	26.2
Other letters of credit - Total Outstanding	26.2	28.3
Deferred purchase credit protection agreements - Due to Expire Within One Year	1,643.70
Deferred purchase credit protection agreements - Total Outstanding	1,643.70	1,854.40
Guarantees, acceptances and other recourse obligations - Due to Expire Within One Year	1.1
Guarantees, acceptances and other recourse obligations - Total Outstanding	1.1	2.8
Aerospace manufacturer purchase commitments - Due To Expire Within One Year	919.8
Aerospace manufacturer purchase commitments - Due To Expire After One Year	9,918.60
Aerospace manufacturer purchase commitments - Total Outstanding	10,838.40	10,820.40
Rail and other manufacturer purchase commitments - Due to Expire Within One Year	1,126.70
Rail and other manufacturer purchase commitments - Due to Expire After One Year	502.8
Rail and other manufacturer purchase commitments - Total Outstanding	$1,629.50	$1,323.20

Contingencies_Details

Contingencies (Details)

Mar. 31, 2015

Jul. 06, 2013

Mar. 31, 2015

Jul. 06, 2013

USD ($)

BRL

item

Itu And Cascavel [Member]

Taxes Paid To Espirito Santo [Member]

Sao Paulo [Member]

Lac-Mgantic, Quebec Derailment [Member]

CIT Group Inc. [Member]

Tax Years 2006-2011 [Member]

USD ($)

BRL

Tax Years 2006 to 2009 [Member]

Tax Years 2004-2007 [Member]

lawsuit

item

Lac-Mgantic, Quebec Derailment [Member]

USD ($)

BRL

USD ($)

BRL

USD ($)

BRL

defendant

item

Contingencies [Line Items]

Reasonably possible litigation losses in excess of established reserves and insurance

$80,000,000

Number of locomotives

Number of rail tank cars

Number of rail tank cars for which parent company is lessor to third party

Number of deceased

Number of buildings destroyed

Number of lawsuits filed

Number of lawsuits in which parent company is named defendant

Number of other defendants

Number of cases not consolidated

Tax assessments and penalties claimed

159,000

507,000

20,100,000

64,200,000

21,900,000

70,100,000

1,300,000

4,000,000

Alleged actual tax rate paid

8.80%

Required tax rate

18.00%

Potential aggregate exponsure in taxes, fines and interest

$23,300,000

74,600,000

Business_Segment_Information_S

Business Segment Information (Segment Profit And Assets) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Interest income	$281		$302.20
Interest expense	-271.3		-271.9
Provision for credit losses	-34.6		-36.7
Rental income on operating leases	530.6		491.9
Other income	86.4		71.1
Depreciation on operating lease equipment	-156.8		-148.8
Maintenance and other operating lease expenses	-46.1		-51.6
Operating expenses	-241.6		-233.5
Income (loss) before (provision) benefit for income taxes	147.6		122.7
Loans	19,429.30		18,571.70	19,495
Credit balances of factoring clients	-1,505.30		-1,213.50	-1,622.10
Assets held for sale	1,051.90	[1]	1,119.40	1,218.10	[1]
Operating lease equipment, net	14,887.80	[1]	14,182.40	14,930.40	[1]
Transportation And International Finance [Member]
Segment Reporting Information [Line Items]
Interest income	68.4		76.7
Interest expense	-168.6		-160.7
Provision for credit losses	-10.6		-12.4
Rental income on operating leases	497.5		459.6
Other income	34.3		7.2
Depreciation on operating lease equipment	-136.1		-121.7
Maintenance and other operating lease expenses	-46.1		-51.6
Operating expenses	-81.8		-79.5
Income (loss) before (provision) benefit for income taxes	157		117.6
Loans	3,568.50		3,553.50	3,558.90
Assets held for sale	634.5		92.6
Operating lease equipment, net	14,623.30		13,926.90
North American Commercial Finance [Member]
Segment Reporting Information [Line Items]
Interest income	196.1		193.4
Interest expense	-74.1		-68.9
Provision for credit losses	-24		-23.2
Rental income on operating leases	27.2		22.8
Other income	66.3		61.8
Depreciation on operating lease equipment	-20.7		-21.9
Operating expenses	-134.7		-121.5
Income (loss) before (provision) benefit for income taxes	36.1		42.5
Loans	15,860.80		14,902.80	15,936
Credit balances of factoring clients	-1,505.30		-1,213.50
Assets held for sale	87.5		67
Operating lease equipment, net	264.5		210.1
Non-Strategic Portfolios [Member]
Segment Reporting Information [Line Items]
Interest income	12.3		28.4
Interest expense	-10.8		-24.9
Provision for credit losses	0		-1
Rental income on operating leases	5.9		9.5
Other income	-7.8		4.4
Depreciation on operating lease equipment			-5.2
Operating expenses	-12.4		-19.2
Income (loss) before (provision) benefit for income taxes	-12.8		-8
Loans			115.4	0.1
Assets held for sale	329.9		959.8
Operating lease equipment, net			45.4
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Interest income	4.2		3.7
Interest expense	-17.8		-17.4
Provision for credit losses			-0.1
Other income	-6.4		-2.3
Operating expenses	-12.7		-13.3
Income (loss) before (provision) benefit for income taxes	($32.70)		($29.40)

[1]	The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between VIE total assets and total liabilities represents the Companybs interests in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Companybs interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.