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Content analysis
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Exhibit 12.1
CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (dollars in millions) |
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| Quarters Ended |
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| Nine Month Ended |
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Earnings: | September 30, 2018 |
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| June 30, 2018 |
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| September 30, 2017 |
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| September 30, 2018 |
| September 30, 2017 |
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Net income | $ | 131.5 |
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| $ | 126.8 |
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| $ | 219.6 |
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| $ | 355.3 |
| $ | 556.2 |
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Provision (benefit) for income taxes - continuing operations |
| 41.3 |
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| 57.4 |
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| (119.8 | ) |
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| 140.0 |
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| (95.5 | ) |
(Income) loss from discontinued operations, net of taxes |
| (2.1 | ) |
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| 20.5 |
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| 3.2 |
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| 25.1 |
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| (214.0 | ) |
Income from continuing operations, before provision (benefit) or income taxes |
| 170.7 |
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| 204.7 |
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| 103.0 |
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| 520.4 |
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| 246.7 |
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Fixed Charges: |
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Interest and debt expenses on indebtedness |
| 213.9 |
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| 205.2 |
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| 176.7 |
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| 599.6 |
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| 549.0 |
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Interest factor: one-third of rentals on real and personal properties |
| 4.1 |
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| 3.9 |
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| 3.8 |
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| 11.8 |
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| 10.9 |
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Total fixed charges for computation of ratio |
| 218.0 |
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| 209.1 |
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| 180.5 |
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| 611.4 |
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| 559.9 |
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Total earnings before provision (benefit) for income taxes and fixed charges | $ | 388.7 |
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| $ | 413.8 |
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| $ | 283.5 |
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| $ | 1,131.8 |
| $ | 806.6 |
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Ratios of earnings to fixed charges |
| 1.78 | x |
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| 1.98 | x |
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| 1.57 | x |
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| 1.85 | x |
| 1.44 | x |