EXHIBIT 12.1
CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges(dollars in millions)
| Quarters Ended | Six Months Ended | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| June 30, 2016 | March 31, 2016 | June 30, 2015 | June 30, 2016 | June 30, 2015 | |||||||||||||||||||
Earnings: | |||||||||||||||||||||||
| Net income | $ | 14.1 | $ | 146.9 | $ | 115.3 | $ | 161.0 | $ | 219.0 | |||||||||||||
| Provision for income taxes – continuing operations | 94.3 | 52.7 | 37.8 | 147.0 | 81.8 | ||||||||||||||||||
| Loss from discontinued operation, net of taxes | 167.0 | 4.8 | – | 171.8 | – | ||||||||||||||||||
| Income from continuing operations, before provision for income taxes | 275.4 | 204.4 | 153.1 | 479.8 | 300.8 | ||||||||||||||||||
Fixed Charges: | |||||||||||||||||||||||
| Interest and debt expenses on indebtedness | 282.5 | 286.4 | 265.2 | 568.9 | 536.5 | ||||||||||||||||||
| Interest factor: one-third of rentals on real and personal properties | 4.5 | 3.1 | 2.0 | 7.6 | 3.8 | ||||||||||||||||||
| Total fixed charges for computation of ratio | 287.0 | 289.5 | 267.2 | 576.5 | 540.3 | ||||||||||||||||||
| Total earnings before provision for income taxes and fixed charges | $ | 562.4 | $ | 493.9 | $ | 420.3 | $ | 1,056.3 | $ | 841.1 | |||||||||||||
| Ratios of earnings to fixed charges | 1.96 | x | 1.71 | x | 1.57 | x | 1.83 | x | 1.56 | x | |||||||||||||