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Filing tables
Filing exhibits
- 10-K Annual report
- 12.1 Computation of Ratio of Earnings to Fixed Charges
- 21.1 Subsidiary List
- 23.1 Consent of Independent Registered Public Accounting Firm
- 24.1 Power of Attorney
- 31.1 Certification of John A. Thain
- 31.2 Certification of E. Carol Hayles
- 32.1 Certification of John A. Thain Section 1350
- 32.2 Certification of E. Carol Hayles Section 1350
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EXHIBIT 12.1
CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges(dollars in millions)
| Years Ended December 31, | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||
Earnings: | |||||||||||||||||||||||
| Net income (loss) | $ | 1,056.6 | $ | 1,130.0 | $ | 675.7 | $ | (592.3 | ) | $ | 14.8 | ||||||||||||
| (Benefit) provision for income taxes – continuing operations | (488.4 | ) | (397.9 | ) | 83.9 | 116.7 | 157.0 | ||||||||||||||||
| (Income) loss from discontinued operation, net of taxes | 10.4 | (52.5 | ) | (31.3 | ) | 56.5 | 69.1 | ||||||||||||||||
| Income (loss) from continuing operations, before benefit (provision) for income taxes | 578.6 | 679.6 | 728.3 | (419.1 | ) | 240.9 | |||||||||||||||||
Fixed Charges: | |||||||||||||||||||||||
| Interest and debt expenses on indebtedness | 1,103.5 | 1,086.2 | 1,060.9 | 2,665.7 | 2,504.2 | ||||||||||||||||||
| Interest factor: one-third of rentals on real and personal properties | 11.3 | 7.3 | 7.8 | 8.2 | 9.3 | ||||||||||||||||||
| Total fixed charges for computation of ratio | 1,114.8 | 1,093.5 | 1,068.7 | 2,673.9 | 2,513.5 | ||||||||||||||||||
| Total earnings before provision for income taxes and fixed charges | $ | 1,693.4 | $ | 1,773.1 | $ | 1,797.0 | $ | 2,254.8 | $ | 2,754.4 | |||||||||||||
| Ratios of earnings to fixed charges | 1.52 | x | 1.62 | x | 1.68 | x | (1) | 1.10 | x | ||||||||||||||
(1) | Earnings were insufficient to cover fixed charges by $419.1 million for the year ended December 31, 2012. |