Cit (CIT) 10-Q 4 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Registrant Name	CIT GROUP INC
Entity Central Index Key	1,171,825
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		127,065,926

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and due from banks, including restricted balances of $34.7 and $42.9 at March 31, 2018 and December 31, 2017(1), respectively (see Note 6 for amounts pledged)	[1]	$ 200.9	$ 278.6
Interest bearing deposits, including restricted balances of $82.3 and $81.8 at March 31, 2018 and December 31, 2017(1), respectively (see Note 6 for amounts pledged)	[1]	3,895.4	1,440.1
Securities purchased under agreement to resell		250	150
Investment securities, including securities carried at fair value with changes recorded in net income of $44.1 at March 31, 2018 and $0.4 at December 31, 2017 (see Note 6 for amounts pledged)		5,910.5	6,469.9
Assets held for sale	[1]	2,298.8	2,263.1
Loans (see Note 6 for amounts pledged)		29,453.6	29,113.9
Allowance for loan losses		(447.6)	(431.1)
Total loans, net of allowance for loan losses	[1]	29,006	28,682.8
Operating lease equipment, net	[1]	6,774.9	6,738.9
Bank-owned life insurance		795.1	788.6
Goodwill		369.9	369.9
Other assets, including $118.7 and $68.7 at March 31, 2018 and December 31, 2017, respectively, at fair value		1,577.9	1,595.5
Assets of discontinued operations	[1]	463.1	501.3
Total Assets		51,542.5	49,278.7
Liabilities
Deposits		30,593.9	29,569.3
Credit balances of factoring clients		1,549	1,468.6
Other liabilities, including $215.4 and $198.1 at March 31, 2018 and December 31, 2017, respectively, at fair value		1,338.9	1,437.1
Borrowings, including $1,875.0 and $1,626.3 contractually due within twelve months at March 31, 2018 and December 31, 2017, respectively		10,437.3	8,974.4
Liabilities of discontinued operations	[1]	496.6	509.3
Total Liabilities		44,415.7	41,958.7
Stockholders’ Equity
Preferred Stock: $0.01 par value, 100,000,000 authorized, 325,000 shares issued and outstanding		325	325
Common stock		2.1	2.1
Paid-in capital		8,811.8	8,798.1
Retained earnings		1,982.7	1,906.5
Accumulated other comprehensive loss		(149.9)	(86.5)
Treasury stock: 80,412,114 and 76,275,567 shares at March 31, 2018 and December 31, 2017 at cost, respectively		(3,844.9)	(3,625.2)
Total Common Stockholders’ Equity		6,801.8	6,995
Total Equity		7,126.8	7,320
Total Liabilities and Equity		51,542.5	49,278.7
Variable Interest Entities
Assets
Cash and interest bearing deposits, restricted		80.5	80.4
Total loans, net of allowance for loan losses		2.7	119.1
Operating lease equipment, net		771.8	763.3
Total Assets		855	962.8
Liabilities
Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)		484.6	566.6
Total Liabilities		$ 484.6	$ 566.6
[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 Company’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 Company’s interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.Assets Cash and interest bearing deposits, restricted$80.5 $80.4Total loans, net of allowance for loan losses2.7 119.1Operating lease equipment, net771.8 763.3Total Assets$855.0 $962.8Liabilities Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)$484.6 $566.6Total Liabilities$484.6 $566.6

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Cash and interest bearing deposits, restricted	$ 34.7	$ 42.9
Restricted interest-bearing deposits	82.3	81.8
Securities carried at fair value with changes recorded in net income	44.1	0.4
Other assets at fair value	118.7	68.7
Other liabilities at fair value	215.4	198.1
Borrowings contractually due within twelve months	$ 1,875	$ 1,626.3
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred Stock, shares issued (in shares)	325,000	325,000
Preferred Stock, shares outstanding (in shares)	325,000	325,000
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	600,000,000	600,000,000
Common Stock, shares issued (in shares)	208,830,397	207,628,491
Common Stock, shares outstanding (in shares)	128,418,283	131,352,924
Treasury stock, shares at cost (in shares)	80,412,114	76,275,567

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Interest income
Interest and fees on loans	$ 400.9	$ 412.1
Other interest and dividends	50.3	43.6
Interest income	451.2	455.7
Interest expense
Interest on borrowings	83.4	69.1
Interest on deposits	97.1	94
Interest expense	180.5	163.1
Net interest revenue	270.7	292.6
Provision for credit losses	68.8	49.7
Net interest revenue, after credit provision	201.9	242.9
Non-interest income
Rental income on operating leases	253.6	251.3
Other non-interest income	104.7	79.1
Total non-interest income	358.3	330.4
Total revenue, net of interest expense and credit provision	560.2	573.3
Non-interest expenses
Depreciation on operating lease equipment	76.4	73.5
Maintenance and other operating lease expenses	57.4	53.8
Operating expenses	281.3	311.6
Loss on debt extinguishment and deposit redemption	0.1	0
Total non-interest expenses	415.2	438.9
Income from continuing operations before benefit (provision) for income taxes	145	134.4
Provision for income taxes	41.3	56.2
Income from continuing operations	103.7	78.2
Discontinued Operations
Income (loss) from discontinued operations, net of taxes	(6.7)	89
Gain on sale of discontinued operations, net of taxes	0	12.7
Total income (loss) from discontinued operations, net of taxes	(6.7)	101.7
Net Income	$ 97	$ 179.9
Basic income per common share
Income from continuing operations (in dollars per share)	$ 0.79	$ 0.39
Income (loss) from discontinued operations (in dollars per share)	(0.05)	0.50
Basic income per share (in dollars per share)	0.74	0.89
Diluted income per common share
Income from continuing operations (in dollars per share)	0.79	0.38
Income (loss) from discontinued operations (in dollars per share)	(0.05)	0.50
Diluted income per share (in dollars per share)	$ 0.74	$ 0.88
Average number of common shares (thousands)
Basic (in shares)	130,483	202,449
Diluted (in shares)	131,588	203,348
Dividends declared per common share (in dollars per share)	$ 0.16	$ 0.15

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net Income	$ 97	$ 179.9
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(2.4)	12.8
Net unrealized gains (losses) on available for sale securities	(63.9)	2.7
Changes in benefit plans net gain (loss) and prior service (cost)/credit	3.4	0.9
Other comprehensive income (loss), net of tax	(62.9)	16.4
Comprehensive income	$ 34.1	$ 196.3

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Minority Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASUs 2016-01 and 2018-02(1)				$ 1	$ (1)
Beginning balance at Dec. 31, 2016	$ 10,003.1	$ 0	$ 2.1	8,765.8	1,553	$ (140.1)	$ (178.1)	$ 0.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	179.9				179.9
Other comprehensive loss, net of tax	16.4					16.4
Dividends paid	(30.8)				(30.8)
Amortization of restricted stock, stock option and performance shares expenses	(3.8)			15			(18.8)
Employee stock purchase plan	0.8			0.8
Other	(0.1)							(0.1)
Ending balance at Mar. 31, 2017	10,165.5	0	2.1	8,782.6	1,701.1	(123.7)	(196.9)	0.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASUs 2016-01 and 2018-02(1)	0.2				0.7	(0.5)
Beginning balance at Dec. 31, 2017	7,320	325	2.1	8,798.1	1,906.5	(86.5)	(3,625.2)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	97				97
Other comprehensive loss, net of tax	(62.9)					(62.9)
Dividends paid	(21.5)				(21.5)
Share repurchases	(194.9)						(194.9)
Amortization of restricted stock, stock option and performance shares expenses	(11.8)			13			(24.8)
Employee stock purchase plan	0.7			0.7
Ending balance at Mar. 31, 2018	$ 7,126.8	$ 325	$ 2.1	$ 8,811.8	$ 1,982.7	$ (149.9)	$ (3,844.9)	$ 0

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows From Operations
Net income	$ 97	$ 179.9
Adjustments to reconcile net income to net cash flows from operations:
Provision for credit losses	68.8	49.7
Depreciation on operating lease equipment	76.4	73.5
Amortization of stock compensation expenses	13	15
Net gain on asset sales and impairments on assets held for sale	(20.9)	(35)
Loss on debt extinguishment and other deposit redemption	0.1	39
Provision for deferred income taxes	25.4	113.5
Decrease in finance receivables held for sale	7.6	53.8
(Increase) decrease in other assets	(33.4)	21.2
Decrease in other liabilities	(112.7)	(220.4)
Other operating activities	5.8	15.5
Net cash flows provided by operations	127.1	305.7
Cash Flows From Investing Activities
Changes in loans, net	(412.7)	28
Purchases of investment securities	(662.4)	(1,806.2)
Proceeds from sales and maturities of investment securities	1,067	1,827.9
Proceeds from asset and receivable sales	175.6	393.2
Purchases of assets to be leased and other equipment	(148.3)	(399.5)
Proceeds from sale of OREO, net of repurchases	19.9	28.9
Other investing activities	16.1	25.2
Net cash flows provided by investing activities	55.2	97.5
Cash Flows From Financing Activities
Proceeds from the issuance of term debt and FHLB advances	3,061.6	8.5
Repayments of term debt, FHLB advances, and net settlements	(1,636.6)	(1,083.3)
Net increase in deposits	1,023.3	35
Repurchase of common stock	(194.9)	0
Dividends paid	(21.5)	(30.8)
Other financing activities	(35)	6.5
Net cash flows provided by (used in) financing activities	2,196.9	(1,064.1)
Effect of exchange rate changes on cash and cash equivalents	0.5	3.8
Increase (decrease) in cash, cash equivalents and restricted cash	2,379.7	(657.1)
Cash, cash equivalents, and restricted cash beginning of period	1,726.4	7,195.4
Cash, cash equivalents, and restricted cash end of period	4,106.1	6,538.3
Supplementary Cash Flow Disclosures
Interest paid	(200.8)	(315.3)
Federal, foreign, state and local income taxes (paid) refunded, net	(3.2)	0.2
Supplementary Non Cash Flow Disclosure
Transfer of assets from held for investment to held for sale	150.2	227.2
Transfer of assets from held for sale to held for investment	20.8	26.7
Deposits on flight equipment purchases applied to acquisition of flight equipment purchases, and origination of finance leases, capitalized interest, and buyer furnished equipment	0	91.2
Transfers of assets to OREO	9.6	38.9
Capital lease unexercised bargain purchase options	0	17.5
Total cash, cash equivalents, and restricted cash shown in the Statements of Cash Flows	$ 1,726.4	$ 7,195.4

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CIT Group Inc., together with its subsidiaries (collectively "we", "our", "CIT" or the "Company"), is a bank holding company ("BHC") and a financial holding company ("FHC"). CIT was formed in 1908 and provides financing, leasing and advisory services principally to middle-market companies in a wide variety of industries, primarily in North America. CIT also provides banking and related services to commercial and individual customers through its banking subsidiary, CIT Bank, N.A. ("CIT Bank" or the "Bank"), which includes 70 branches located in Southern California and its online bank, bankoncit.com. 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, as amended. CIT Bank is regulated by the Office of the Comptroller of the Currency of the U.S. Department of the Treasury ("OCC"). BASIS OF PRESENTATION Basis of Financial Information 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, in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement 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 Form 10-K for the year ended December 31, 2017 . The accounting and financial reporting policies of CIT 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, purchase accounting adjustments, indemnification assets, goodwill, intangible assets, and contingent liabilities, including amounts associated with the discontinued operation. Additionally where applicable, the policies conform to accounting and reporting guidelines prescribed by bank regulatory authorities. Principles of Consolidation The accompanying consolidated financial statements include financial information related to CIT 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 intercompany accounts and transactions have been eliminated. Assets held in an agency or fiduciary capacity are not included in the consolidated financial statements. The current period’s results of operations do not necessarily indicate the results that may be expected for any other interim period or for the full year as a whole. Discontinued Operations Discontinued Operations as of March 31, 2018 and December 31, 2017 included certain assets and liabilities of (i) the Financial Freedom business that was acquired as part of the OneWest Transaction and (ii) the Business Air business. Income from discontinued operations reflects the activities of the Financial Freedom and Business Air businesses for the quarter ended March 31, 2018 and the Financial Freedom and the Aerospace (Commercial Air and Business Air) businesses for the quarter ended March 31, 2017 . We completed the sale of our Commercial Air business in April 2017. On October 6, 2017, CIT announced that CIT Bank, N.A. has agreed to sell Financial Freedom, its reverse mortgage servicing business and the reverse mortgage portfolio serviced by Financial Freedom (the “Financial Freedom Transaction”). The Financial Freedom Transaction is targeted to close in the second quarter of 2018 and is subject to certain regulatory and investor approvals and other customary closing conditions. See further discussions in Note 2 — Discontinued Operations. SIGNIFICANT ACCOUNTING POLICIES Significant accounting policies are included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 ("2017 Form 10-K"). Effective January 1, 2018, CIT changed its accounting policy for revenue recognition resulting from the adoption of Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers and subsequent related Accounting Standards Updates ("ASUs") . There were no other material changes to policies during the quarter ended March 31, 2018 . Refer to Newly Adopted Accounting Standards for other ASUs adopted in Q1 2018. Revenue Recognition On January 1, 2018, CIT adopted ASU 2014-09, Revenue Recognition - Revenue from Contracts with Customers (ASC 606) and subsequent related ASUs. ASU 2014-09 establishes the principles to apply in determining the amount and timing of revenue recognition. The core principle is that a company will recognize revenue when it transfers control of goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. The guidance introduces a five step, principle-based model, requiring more judgment than under previous GAAP to determine when and how revenue is recognized. The standard defers to existing guidance where revenue recognition models are already in place. "Interest Income" and "Rental Income on Operating Leases", CIT's two largest revenue items, are out of scope of the new guidance, as are many other revenues relating to other financial assets and liabilities, including loans, leases, securities, and derivatives. As a result, the implementation of the new guidance was limited to certain revenue streams within Non-Interest Income, including some immaterial bank related fees and gains or losses related to the sale and disposition of leased equipment and Other Real Estate Owned ("OREO"), which is accounted for under ASC 610-20, Gains and Losses From the Derecognition of Nonfinancial Assets and requires the Company to apply certain recognition and measurement principles of ASC 606. CIT evaluated its in-scope revenue streams under the five step model and concluded that ASU 2014-09 did not materially impact the current practice of revenue recognition as ASC 606 is consistent with the current accounting policy being applied by the Company for these revenues. Therefore, no change in the timing or amount of income recognized was identified. CIT also determined that costs incurred to obtain or fulfill contracts and financing components relating to in-scope revenue streams were immaterial to the Company. Non-interest revenue, including amounts related to the sale and disposition of leased equipment and OREO, is recognized at an amount reflecting the consideration received, or expected to be received, when control of goods or services is transferred, which generally occurs when services are provided or control of leased equipment or OREO is liquidated. ASU 2014-09 was adopted using the modified retrospective transition method. CIT elected to apply this guidance only to contracts that were not completed at the date of the initial application. The adoption did not have a significant impact on CIT’s financial statements or disclosures. No adjustment to the opening balance of retained earnings was necessary. Interest income on held for investment ("HFI") loans is recognized using the effective interest method or on a basis approximating a level rate of return over the life of the asset. Interest income includes components of accretion of the fair value discount on loans and lease receivables recorded in connection with Purchase Accounting Adjustments (“PAA”), which are accreted using the effective interest method as a yield adjustment over the remaining contractual term of the loan and recorded in interest income. If the loan is subsequently classified as assets held for sale ("AHFS"), accretion (amortization) of the discount (premium) will cease. Rental revenue on operating leases is recognized on a straight line basis over the lease term and is included in Non-interest Income. Intangible assets related to acquisitions completed by the Company and Fresh Start Accounting (“FSA”) adjustments that were applied as of December 31, 2009 (the Convenience Date), were recorded to adjust the carrying value of above or below market operating lease contracts to their fair value. The FSA related adjustments (net) are amortized into rental income on a straight line basis over the remaining term of the respective lease. The recognition of interest income (including accretion) on commercial loans (exclusive of small ticket commercial loans) is suspended and an account is placed on non-accrual status when, in the opinion of management, full collection of all principal and interest due is doubtful. All future interest accruals, as well as amortization of deferred fees, costs, purchase premiums or discounts are suspended. To the extent the estimated cash flows, including fair value of collateral, does not satisfy both the principal and accrued interest outstanding, accrued but uncollected interest at the date an account is placed on non-accrual status is reversed and charged against interest income. Subsequent interest received is applied to the outstanding principal balance until such time as the account is collected, charged-off or returned to accrual status. Loans that are on cash basis nonaccrual do not accrue interest income; however, payments designated by the borrower as interest payments may be recorded as interest income. To qualify for this treatment, the remaining recorded investment in the loan must be deemed fully collectable. The recognition of interest income (including accretion) on consumer mortgages and small ticket commercial loans and lease receivables is suspended and all previously accrued but uncollected revenue is reversed, when payment of principal and/or interest is contractually delinquent for 90 days or more. Accounts, including accounts that have been modified, are returned to accrual status when, in the opinion of management, collection of remaining principal and interest is reasonably assured, and there is a sustained period of repayment performance for a minimum of six months. The recognition of interest income on reverse mortgages is suspended upon the latter of the foreclosure sale date or date on which marketable title has been acquired (i.e. property becomes OREO). The Company periodically modifies the terms of a loan in response to borrowers’ financial difficulties. These modifications may include interest rate changes, principal forgiveness or payment deferments. Loans that are modified, where a concession has been made to the borrower, are accounted for as Troubled Debt Restructurings (“TDRs”). TDRs are generally placed on nonaccrual upon their restructuring and remain on non-accrual until, in the opinion of management, collection of remaining principal and interest is reasonably assured, and upon collection of six consecutive scheduled payments. Purchased credit impaired ("PCI") loans in pools that the Company may modify as TDRs are not within the scope of the accounting guidance for TDRs. Fair Value Hedging As noted in the Company's 2017 Form 10-K, CIT early adopted ASU 2017-12, Derivatives and Hedging (Topic 815) - Targeted Improvements to Accounting for Hedging Activities in fourth quarter of 2017. In accordance with this new guidance, the Company presents the entire change in the fair value of the hedging instrument included in the assessment of hedge effectiveness in the same income statement line as the earnings effect of the hedged item. See Note 7 — Derivative Financial Instruments for further details. Other Newly Adopted Accounting Standards The following pronouncements were issued by the Financial Accounting Standards Board (“FASB”) and adopted by CIT as of January 1, 2018: Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities and Technical Corrections and Improvements to Financial Instruments - Overall ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities includes amendments on recognition, measurement, presentation and disclosure of financial instruments. In addition, this guidance adds a new Topic (ASC 321, Investments - Equity Securities) to the FASB Accounting Standards Codification, which provides guidance on accounting for equity investments. ASU 2018-03, Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825-10) clarifies certain aspects of ASU 2016-01. CIT adopted these standards as of January 1, 2018 with a cumulative-effect adjustment to the balance sheet as of the adoption date. The cumulative-effect adjustment resulted in a decrease in retained earnings due to the reclassification of $ 1.1 million of unrealized losses from accumulated other comprehensive loss to opening retained earnings. The adoption of these standards did not have a material impact on CIT’s consolidated financial statements and disclosures. Income Taxes (Topic 740): Intra - Entity Transfers of Assets Other Than Inventory ASU 2016-16, Income Taxes (Topic 740): Intra - Entity Transfers of Assets Other Than Inventory requires that a Company recognize the tax expense from the sale of an asset in the seller’s tax jurisdiction when the transfer occurs, and any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer even though the pre-tax effects of the transaction are eliminated in consolidation. CIT adopted this guidance as of January 1, 2018 using a modified retrospective approach. The adoption did not have a material impact on CIT's consolidated financial statements and disclosures. The balance sheet impact was an approximately $ 0.2 million increase to the opening retained earnings due to the adjustment recorded. Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments and Restricted Cash ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments clarifies how entities should classify certain cash receipts and cash payments within the statement of cash flows. The new guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. CIT retrospectively adopted this guidance as of January 1, 2018, to each period presented. The adoption did not have a material impact on CIT’s consolidated financial statements and disclosures. ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cas h requires that the Statement of Cash Flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. CIT retrospectively adopted this guidance as of January 1, 2018, to each period presented. The adoption did not have a material impact on CIT’s consolidated financial statements and disclosures. Business Combinations (Topic 805): Clarifying the Definition of a Business ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business narrows the definition of a business and provides guidance to assist entities with evaluating when a set of transferred assets and activities is a business. CIT adopted this guidance effective January 1, 2018. The adoption did not have a material impact on CIT’s consolidated financial statements and disclosures. Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost requires employers that present a measure of operating income in their Statement of Income to include only the service cost component of net periodic pension cost and net periodic postretirement benefit cost in operating expenses (together with other employee compensation costs). The other components of net benefit cost, including amortization of prior service cost/credit, and settlement and curtailment effects, are to be included in non-operating expenses in a separate line item(s). This standard also stipulates that only the service cost component of net benefit cost is eligible for capitalization. The amendments related to presentation of service cost and other components in the Income Statements must be applied retrospectively to all periods presented. The amendments related to the capitalization of the service cost component should be applied prospectively, on and after the date of adoption. CIT adopted this guidance as of January 1, 2018. The adoption was determined not to be material to the financial statements and disclosures. Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. CIT prospectively adopted this guidance as of January 1, 2018. The adoption did not have a material impact on CIT’s consolidated financial statements and disclosures. Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ASU 2018-02 Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Cuts and Jobs Act and will improve the usefulness of information reported to financial statement users. CIT early adopted this guidance as of January 1, 2018 by applying the aggregate portfolio approach. Adjustment to opening retained earnings due to the reclassification of certain tax effects stranded in accumulated other comprehensive income was a $ 1.6 million increase. The adoption did not have a material impact on CIT’s consolidated financial statements and disclosures. Recent Accounting Pronouncements The following accounting pronouncements were issued by the FASB but are not yet effective for CIT. Standard Summary of Guidance Effect on CIT's Financial Statements ASU 2017-08, Receivables -Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities Issued March 2017 • ASU 2017-08 shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. • The new guidance applies to all entities that hold investments in callable debt securities for which the amortized cost basis exceeds the amount repayable by the issuer at the earliest call date (i.e., at a premium). • This guidance must be adopted on a modified retrospective basis through a cumulative-effect adjustment to retained earnings. • Effective for CIT as of January 1, 2019. • CIT is currently evaluating the impact of this standard on its consolidated financial statements and disclosures and does not intend to early adopt this standard. ASU 2016-02, Leases (Topic 842) Issued February 2016 • Lessees will need to recognize all leases longer than twelve months on the consolidated balance sheets as lease liabilities with corresponding right-of-use assets. For Income Statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit thresholds. • Lessor accounting remains similar to the current model, but updated to align with certain changes to the lessee model (e.g., certain definitions, such as initial direct costs, have been updated) and the new revenue recognition standard. Lease classifications by lessors are similar, operating, direct financing, or sales-type. • The ASU requires both quantitative and qualitative disclosures regarding key information about leasing arrangements. The new standard must be adopted using a modified retrospective transition, and provides for certain practical expedients. Transition will require application of the new guidance at the beginning of the earliest comparative period presented. Early adoption is permitted. • Effective for CIT as of January 1, 2019. • CIT will need to determine the impact where it is both a lessee and a lessor: • Lessor accounting: CIT is analyzing the impact of changes to the definition of ‘initial direct costs’ under the new guidance. The new standard has a narrower definition of initial direct costs, which will result in CIT recognizing increased upfront expenses offset by higher yield over the lease term. CIT is currently evaluating the bifurcation of certain non-lease components from lease revenue streams. If goods or services are determined to be a non-lease component and accounted for under ASC 606 or other applicable GAAP guidance, the income recognition may differ from current accounting. • Lessee accounting: CIT is continuing to evaluate the impact of the amended guidance on its Condensed consolidated financial statements. CIT expects to recognize right-of-use assets and lease liabilities for substantially all of its operating lease commitments based on the present value of unpaid lease payments as of the date of adoption. • CIT management has assembled a project committee to assess the impact of this guidance. Initial scoping and assessment is complete and CIT is continuing to evaluate the impact on its consolidated financial statements and disclosures. ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Issued June 2016 • Introduces a forward-looking “expected loss” model (the “Current Expected Credit Losses” (“CECL”) model) to estimate credit losses to cover the full remaining expected life of the portfolio upon adoption, rather than the incurred loss model under current U.S. GAAP, on certain types of financial instruments. • It eliminates existing guidance for PCI loans, and requires recognition of an allowance for expected credit losses on financial assets purchased with more than insignificant credit deterioration since origination. • It amends existing impairment guidance for AFS securities to incorporate an allowance, which will allow for reversals of impairment losses in the event that the credit of an issuer improves. • In addition, it expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating the ALLL. • Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted (modified-retrospective approach). • Effective for CIT as of January 1, 2020. • CIT management has established a project team and an oversight committee to assess the impact of this guidance and implement this standard. Initial gap assessment is complete and CIT is continuing to evaluate the impact on its consolidated financial statements and disclosures. • While CIT is currently in the process of evaluating the impact of the amended guidance on its Condensed consolidated financial statements, it currently expects the ALLL to increase upon adoption given that the allowance will be required to cover the full remaining expected life of the portfolio upon adoption, rather than the incurred loss model under current U.S. GAAP. The extent of this increase is still being evaluated and will depend on economic conditions and the composition of CIT’s loan and lease portfolios at adoption date.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS Aerospace As discussed in Note 2 — Discontinued Operations in our Annual Report on Form 10-K for the year ended December 31, 2017 , the activity for 2017 in the following tables included Commercial Air, which was sold on April 4, 2017. The following condensed financial information reflects the Business Air business for the quarter ended March 31, 2018 and as of December 31, 2017 . Condensed Balance Sheet — Aerospace (dollars in millions) March 31, 2018 December 31, 2017 Net Loans $ 153.0 $ 165.8 Operating lease equipment, net 11.4 18.4 Other assets 0.1 — Assets of discontinued operations $ 164.5 $ 184.2 Other liabilities $ 20.1 $ 8.8 Liabilities of discontinued operations $ 20.1 $ 8.8 Condensed Statement of Income — Aerospace (dollars in millions) Quarters Ended March 31, 2018 2017 Interest income $ 2.1 $ 20.2 Interest expense 1.0 95.9 Rental income on operating leases 0.5 306.7 Other income (losses) (1.0 ) 13.4 Maintenance and other operating lease expenses — 4.2 Operating expenses 0.3 24.9 Loss on debt extinguishment (1) — 39.0 Income from discontinued operations before provision for income taxes 0.3 176.3 Provision for income taxes 0.1 78.1 Gain on sale of discontinued operations, net of taxes — 12.7 Income from discontinued operations, net of taxes $ 0.2 $ 110.9 (1) The Company repaid approximately $ 1 billion of secured borrowings in the first quarter of 2017 within discontinued operations and recorded a loss of $ 39 million in relation to the extinguishment of those borrowings. Condensed Statement of Cash Flows — Aerospace (dollars in millions) Quarters Ended March 31, 2018 2017 Net cash flows provided by operations $ 13.6 $ 128.1 Net cash flows provided by investing activities 20.1 98.7 Reverse Mortgage Servicing The Financial Freedom business, a division of CIT Bank that services reverse mortgage loans, was acquired in conjunction with the OneWest Transaction. The Financial Freedom business is reflected in discontinued operations. Assets of discontinued operations primarily include Home Equity Conversion Mortgage ("HECM") loans and servicing advances. The liabilities of discontinued operations include reverse mortgage servicing liabilities, which related primarily to loans serviced for third party investors, secured borrowings and contingent liabilities. Continuing operations includes a separate portfolio of reverse mortgage loans of $ 861 million and other real estate owned assets of $ 17 million at March 31, 2018 , which are recorded in the Consumer Banking segment (refer to Note 3 - Loans ) and are serviced by Financial Freedom. On October 6, 2017, CIT entered into a definitive agreement to sell the Financial Freedom business and the reverse mortgage loan portfolio serviced by Financial Freedom (the "Financial Freedom Transaction"). The Financial Freedom Transaction is targeted to close in the second quarter of 2018 and is subject to certain regulatory and investor approvals and other customary closing conditions As a mortgage servicer of residential reverse mortgage loans, the Company is exposed to contingent liabilities for breaches of servicer obligations as set forth in industry regulations established by the Department of Housing and Urban Development (“HUD”) and the Federal Housing Administration (“FHA”) and in servicing agreements with the applicable counterparties, such as third party investors. Under these agreements, the servicer may be liable for failure to perform its servicing obligations, which could include fees imposed for failure to comply with foreclosure timeframe requirements established by servicing guides and agreements to which CIT is a party as the servicer of the loans. The Company had established reserves for contingent servicing-related liabilities associated with discontinued operations. Separately, the Company recognized an indemnification receivable from the FDIC of $ 29 million as of March 31, 2018 , and December 31, 2017 for covered servicing-related obligations related to reverse mortgage loans pursuant to the loss share agreement between CIT Bank and the FDIC related to the acquisition by OneWest Bank from the FDIC of certain assets of IndyMac Federal Bank FSB ("IndyMac") (the "IndyMac Transaction"). See the Company's Report on Form 10-K for the year ended December 31, 2017, Note 5 - Indemnification Assets, for further information. Condensed Balance Sheet — Financial Freedom (dollars in millions) March 31, 2018 December 31, 2017 Total cash and deposits, all of which is restricted $ 9.8 $ 7.7 Net Loans (1) 253.7 272.8 Other assets (2) 35.1 36.6 Assets of discontinued operation $ 298.6 $ 317.1 Secured borrowings (1) $ 247.8 $ 268.2 Other liabilities (3) 228.7 232.3 Liabilities of discontinued operation $ 476.5 $ 500.5 (1) Net loans include $ 246.8 million and $ 267.2 million of securitized balances at March 31, 2018 and December 31, 2017 , respectively, and $ 6.9 million and $ 5.6 million of additional draws awaiting securitization respectively. Secured borrowings relate to those receivables. (2) Amount includes servicing advances, servicer receivables and property and equipment, net of accumulated depreciation. The loans serviced for others total $ 13.8 billion and $ 14.1 billion for reverse mortgage loans as of March 31, 2018 and December 31, 2017, respectively. (3) Other liabilities include $ 135.3 million and $ 137.8 million of contingent liabilities, $ 79.5 million of reverse mortgage servicing liabilities and $ 13.9 million and $ 15.0 million of other accrued liabilities at March 31, 2018 and December 31, 2017, respectively. The results from discontinued operations for the quarters ended March 31, 2018 and 2017 are presented below. Condensed Statement of Income — Financial Freedom (dollars in millions) Quarters Ended March 31, 2018 2017 Interest income (1) $ 2.1 $ 2.8 Interest expense (1) 2.1 2.5 Other income 6.7 7.3 Operating expenses (2) 16.1 22.7 Loss from discontinued operations before benefit for income taxes (9.4 ) (15.1 ) Benefit for income taxes (3) (2.5 ) (5.9 ) Loss from discontinued operation, net of taxes $ (6.9 ) $ (9.2 ) (1) Includes amortization for the premium associated with the HECM loans and related secured borrowings. (2) For the quarter ended March 31, 2018 and March 31, 2017, operating expense is comprised of approximately $ 4 million and $ 5 million in salaries and benefits, $ 1 million and $ 6 million in professional and legal services, and $ 11 million and $ 13 million for other expenses such as data processing, premises and equipment, and miscellaneous charges, respectively. (3) For the quarters ended March 31, 2018 and 2017, the Company's tax rate for discontinued operation was 27% and 39% , respectively. Condensed Statement of Cash Flows — Financial Freedom (dollars in millions) Quarters Ended March 31, 2018 2017 Net cash flows used for operation $ (3.3 ) $ (8.4 ) Net cash flows provided by investing activities 22.1 25.0 Combined Results for Discontinued Operations The following tables reflect the combined results of the discontinued operations. Details of the balances are discussed in prior tables. Condensed Combined Balance Sheet (dollars in millions) March 31, 2018 December 31, 2017 Total cash and deposits $ 9.8 $ 7.7 Net Loans 406.7 438.6 Operating lease equipment, net 11.4 18.4 Other assets 35.2 36.6 Assets of discontinued operations $ 463.1 $ 501.3 Secured borrowings $ 247.8 $ 268.2 Other liabilities 248.8 241.1 Liabilities of discontinued operations $ 496.6 $ 509.3 Condensed Combined Statement of Income (dollars in millions) Quarters Ended March 31, 2018 2017 Interest income $ 4.2 $ 22.9 Interest expense 3.1 98.4 Rental income on operating leases 0.5 306.7 Other income (losses) 5.7 20.7 Maintenance and other operating lease expenses — 4.2 Operating expenses 16.4 47.6 Loss on debt extinguishment — 39.0 Income (loss) from discontinued operations before benefit (provision) for income taxes (9.1 ) 161.1 (Benefit) provision for income taxes (2.4 ) 72.1 Gain on sale of discontinued operations, net of taxes — 12.7 Income (loss) from discontinued operations, net of taxes $ (6.7 ) $ 101.7 Condensed Combined Statement of Cash Flows (dollars in millions) Quarters Ended March 31, 2018 2017 Net cash flows provided by operations $ 10.3 $ 119.7 Net cash flows provided by investing activities 42.2 123.7

Loans

Loans	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
LOANS	LOANS Loans, excluding those reflected as discontinued operations, consist of the following: Loans by Product (dollars in millions) March 31, December 31, Commercial loans $ 21,163.9 $ 20,892.1 Direct financing leases and leveraged leases 2,625.2 2,685.8 Total commercial 23,789.1 23,577.9 Consumer loans 5,664.5 5,536.0 Total loans 29,453.6 29,113.9 Loans held for sale (1) 1,085.9 1,095.7 Loans and held for sale loans (1) $ 30,539.5 $ 30,209.6 (1) Loans held for sale includes loans primarily related to portfolios in Commercial Banking, Consumer Banking and the China portfolio in Non-Strategic Portfolios ("NSP"). As discussed in subsequent tables, since the Company manages the credit risk and collections of loans held for sale consistently with its loans held for investment, the aggregate amount is presented in this table. The following table presents loans, excluding loans held for sale, by segment, based on obligor location: Loans (dollars in millions) March 31, 2018 December 31, 2017 Domestic Foreign Total Domestic Foreign Total Commercial Banking $ 21,693.8 $ 1,652.1 $ 23,345.9 $ 21,368.7 $ 1,790.6 $ 23,159.3 Consumer Banking (1) 6,107.7 — 6,107.7 5,954.6 — 5,954.6 Total $ 27,801.5 $ 1,652.1 $ 29,453.6 $ 27,323.3 $ 1,790.6 $ 29,113.9 (1) The Consumer Banking segment includes certain commercial loans, primarily consisting of a portfolio of Small Business Administration ("SBA") loans. These loans are excluded from the Consumer loan balance and included in the Commercial loan balances in the tables throughout this note. The following table presents selected components of the net investment in loans: Components of Net Investment in Loans (dollars in millions) March 31, December 31, Unearned income $ (726.8 ) $ (727.8 ) Unamortized premiums / (discounts) 9.4 3.7 Accretable yield on Purchased Credit-Impaired (“PCI”) loans (1,016.3 ) (1,063.7 ) Net unamortized deferred costs and (fees) (1) 69.6 68.7 (1) Balance relates to the Commercial Banking segment. 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 loan characteristics and methods it applies in monitoring and assessing credit risk and performance. Credit Quality Information Commercial obligor 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 following table summarizes commercial loans by the risk ratings that bank regulatory agencies utilize to classify credit exposure and which are consistent with indicators the Company monitors. The consumer loan risk profiles are different from commercial loans, and use loan-to-value (“LTV”) ratios in rating the credit quality, and therefore are presented separately below. Commercial Loans and Held for Sale Loans — Risk Rating by Class / Segment (dollars in millions) Grade: Pass Special Mention Classified- accruing Classified- non-accrual PCI Loans Total March 31, 2018 Commercial Banking Commercial Finance $ 8,020.5 $ 641.1 $ 1,189.0 $ 153.2 $ 10.4 $ 10,014.2 Real Estate Finance 5,158.3 241.2 183.8 — 39.2 5,622.5 Business Capital 7,192.3 246.1 263.5 45.6 — 7,747.5 Rail 120.8 2.5 1.8 — — 125.1 Total Commercial Banking 20,491.9 1,130.9 1,638.1 198.8 49.6 23,509.3 Consumer Banking Other Consumer Banking (1) 398.9 4.2 37.9 — 2.2 443.2 Total Consumer Banking 398.9 4.2 37.9 — 2.2 443.2 Non- Strategic Portfolios 31.5 9.6 5.2 12.2 — 58.5 Total $ 20,922.3 $ 1,144.7 $ 1,681.2 $ 211.0 $ 51.8 $ 24,011.0 December 31, 2017 Commercial Banking Commercial Finance $ 8,284.1 $ 640.9 $ 981.9 $ 134.8 $ 10.6 $ 10,052.3 Real Estate Finance 5,228.1 139.9 174.3 2.8 45.1 5,590.2 Business Capital 7,028.6 269.2 228.8 53.2 — 7,579.8 Rail 100.6 2.0 1.2 — — 103.8 Total Commercial Banking 20,641.4 1,052.0 1,386.2 190.8 55.7 23,326.1 Consumer Banking Other Consumer Banking (1) 378.5 5.9 31.9 — 2.2 418.5 Total Consumer Banking 378.5 5.9 31.9 — 2.2 418.5 Non- Strategic Portfolios 35.7 7.6 10.2 9.8 — 63.3 Total $ 21,055.6 $ 1,065.5 $ 1,428.3 $ 200.6 $ 57.9 $ 23,807.9 (1) Other Consumer Banking loans consisted of SBA loans. For consumer loans, the Company monitors credit risk based on indicators such as delinquencies and LTV, which the Company believes are relevant credit quality indicators. LTV refers to the ratio comparing the loan’s unpaid principal balance to the property’s collateral value. We examine LTV migration and stratify LTV into categories to monitor the risk in the loan classes. The following table provides a summary of the consumer portfolio credit quality. The amounts represent the carrying value, which differ from unpaid principal balances, and include the premiums or discounts and the accretable yield and non-accretable difference for PCI loans recorded in purchase accounting. Included in the consumer loans are “covered loans” for which the Company can be reimbursed for a substantial portion of future losses under the terms of loss sharing agreements with the FDIC. Covered loans are limited to the Legacy Consumer Mortgage ("LCM") division. Covered loans are further discussed in our Form 10-K for the year ended December 31, 2017, Note 5 — Indemnification Assets . Included in the consumer loan balances as of March 31, 2018 and December 31, 2017 , were loans with terms that permitted negative amortization with an unpaid principal balance of $452 million and $484 million , respectively. The table below summarizes the consumer loan LTV distribution and the covered loan held for investment balances as of March 31, 2018 and December 31, 2017 for single family residential mortgage loans. Consumer Loan LTV Distribution (dollars in millions) Single Family Residential Covered Loans Non-covered Loans Total Consumer Loans LTV Range Non-PCI PCI Non-PCI PCI March 31, 2018 Greater than 125% $ 3.5 $ 145.7 $ 5.8 $ — $ 155.0 101% – 125% 6.0 260.4 4.8 — 271.2 80% – 100% 58.1 538.3 178.9 — 775.3 Less than 80% 1,254.5 895.0 2,304.9 7.8 4,462.2 Not Applicable (1) — — 0.8 — 0.8 Total $ 1,322.1 $ 1,839.4 $ 2,495.2 $ 7.8 $ 5,664.5 December 31, 2017 Greater than 125% $ 2.7 $ 160.0 $ 7.7 $ — $ 170.4 101% – 125% 6.4 291.5 4.4 — 302.3 80% – 100% 77.4 566.2 137.3 — 780.9 Less than 80% 1,306.1 878.1 2,089.7 7.7 4,281.6 Not Applicable (1) — — 0.8 — 0.8 Total $ 1,392.6 $ 1,895.8 $ 2,239.9 $ 7.7 $ 5,536.0 (1) Certain Consumer Loans do not have LTV's. Past Due and Non-accrual Loans The table that follows presents portfolio delinquency status, regardless of accrual/non-accrual classification: Loans and Held for Sale Loans - Delinquency Status (dollars in millions) Past Due 30–59 Days Past Due 60–89 Days Past Due 90 Days or Greater Total Past Due Current (1) PCI Loans (2) Total March 31, 2018 Commercial Banking Commercial Finance $ 17.5 $ — $ 43.8 $ 61.3 $ 9,942.5 $ 10.4 $ 10,014.2 Real Estate Finance 10.4 2.9 4.1 17.4 5,565.9 39.2 5,622.5 Business Capital 135.8 24.3 18.0 178.1 7,569.4 — 7,747.5 Rail 6.5 0.9 0.8 8.2 116.9 — 125.1 Total Commercial Banking 170.2 28.1 66.7 265.0 23,194.7 49.6 23,509.3 Consumer Banking Legacy Consumer Mortgages 79.5 7.3 38.2 125.0 2,091.3 1,847.2 4,063.5 Other Consumer Banking 137.5 4.4 0.3 142.2 2,763.8 2.2 2,908.2 Total Consumer Banking 217.0 11.7 38.5 267.2 4,855.1 1,849.4 6,971.7 Non-Strategic Portfolios 0.7 — 12.2 12.9 45.6 — 58.5 Total $ 387.9 $ 39.8 $ 117.4 $ 545.1 $ 28,095.4 $ 1,899.0 $ 30,539.5 December 31, 2017 Commercial Banking Commercial Finance $ 4.5 $ — $ 49.3 $ 53.8 $ 9,987.9 $ 10.6 $ 10,052.3 Real Estate Finance 8.7 — 4.1 12.8 5,532.3 45.1 5,590.2 Business Capital 172.2 33.4 19.1 224.7 7,355.1 — 7,579.8 Rail 3.9 1.4 0.8 6.1 97.7 — 103.8 Total Commercial Banking 189.3 34.8 73.3 297.4 22,973.0 55.7 23,326.1 Consumer Banking Legacy Consumer Mortgages 26.7 7.6 34.8 69.1 2,219.5 1,903.5 4,192.1 Other Consumer Banking 9.6 0.5 0.4 10.5 2,615.4 2.2 2,628.1 Total Consumer Banking 36.3 8.1 35.2 79.6 4,834.9 1,905.7 6,820.2 Non-Strategic Portfolios 1.8 7.7 9.4 18.9 44.4 — 63.3 Total $ 227.4 $ 50.6 $ 117.9 $ 395.9 $ 27,852.3 $ 1,961.4 $ 30,209.6 (1) Due to their nature, reverse mortgage loans are included in Current, as they do not have contractual payments due at a specified time. During the current quarter, an immaterial error was discovered and corrected relating to the December 31, 2017 Current balance for Legacy Consumer Mortgage; which was understated by $ 861 million , and the Current balance for Other Consumer Banking, which was overstated by $ 861 million . The current presentation reflects the revised Current balances at December 31, 2017. (2) PCI loans are written down at acquisition to their fair value using an estimate of cash flows deemed to be collectible. Accordingly, such loans are no longer classified as past due or non-accrual even though they may be contractually past due as we expect to fully collect the new carrying values. The following table sets forth non-accrual loans, assets received in satisfaction of loans (OREO and repossessed assets) and loans 90 days or more past due and still accruing. Loans on Non-Accrual Status (dollars in millions) (1) March 31, 2018 December 31, 2017 Held for Investment Held for Sale Total Held for Investment Held for Sale Total Commercial Banking Commercial Finance $ 153.2 $ — $ 153.2 $ 134.8 $ — $ 134.8 Real Estate Finance — — — 2.8 — 2.8 Business Capital 45.6 — 45.6 53.2 — 53.2 Total Commercial Banking 198.8 — 198.8 190.8 — 190.8 Consumer Banking Legacy Consumer Mortgages 25.2 — 25.2 19.9 — 19.9 Other Consumer Banking 0.3 — 0.3 0.4 — 0.4 Total Consumer Banking 25.5 — 25.5 20.3 — 20.3 Non-Strategic Portfolios — 12.2 12.2 — 9.8 9.8 Total $ 224.3 $ 12.2 $ 236.5 $ 211.1 $ 9.8 $ 220.9 Repossessed assets and OREO 45.6 54.6 Total non-performing assets $ 282.1 $ 275.5 Commercial loans past due 90 days or more accruing $ 9.9 $ 11.7 Consumer loans past due 90 days or more accruing 17.1 20.2 Total Accruing loans past due 90 days or more $ 27.0 $ 31.9 (1) Factored receivables within our Business Capital division do not accrue interest and therefore are not considered within non-accrual loan balances; however factored receivables are considered for credit provisioning purposes. 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. Reverse mortgages are not included in the non-accrual balances. The table below summarizes the residential mortgage loans in the process of foreclosure and OREO: Loans in Process of Foreclosure and OREO (dollars in millions) (1) March 31, December 31, PCI $ 134.5 $ 133.7 Non-PCI 138.2 140.9 Loans in process of foreclosure $ 272.7 $ 274.6 OREO $ 43.1 $ 52.1 (1) As of March 31, 2018 and December 31, 2017, the table included $120.4 million and $ 122.5 million of reverse mortgage loans in the process of foreclosure and $17.2 million and $ 21.0 million of reverse mortgage OREO, respectively. Impaired Loans The Company’s policy is to review for impairment loans greater than $500,000 that are on non-accrual status, as well as short-term factoring receivables greater than $500,000 when events or circumstances indicate that it is probable that CIT will be unable to collect all amounts due according to the contractual terms of the factoring agreement. Small-ticket loan and lease receivables that have not been modified in a restructuring are included (if appropriate) in the reported non-accrual balances above, but are excluded from the impaired loans 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 loans and the related allowance for loan losses by class. Impaired loans exclude PCI loans. Loans that were identified as impaired at the date of the OneWest Transaction (the “Acquisition 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 ), are not included in the following table but are disclosed further below in Loans Acquired with Deteriorated Credit Quality . Impaired Loans (dollars in millions) Average Recorded Investment (3) Recorded Investment Unpaid Principal Balance Related Allowance Quarter Ended March 31, 2018 Quarter Ended March 31, 2017 March 31, 2018 With no related allowance recorded: Commercial Banking Commercial Finance $ 90.6 $ 136.7 $ — $ 71.3 $ 59.4 Business Capital 10.9 13.0 — 11.3 4.9 Real Estate Finance — — — — 0.7 With an allowance recorded: Commercial Banking Commercial Finance 74.8 80.3 21.4 85.3 138.9 Business Capital 7.9 7.9 3.9 9.2 17.2 Real Estate Finance — — — 1.4 9.8 Total Impaired Loans (1) 184.2 237.9 25.3 178.5 230.9 Total Loans Impaired at Acquisition Date (2) 1,899.0 2,778.5 19.2 1,930.2 2,316.0 Total $ 2,083.2 $ 3,016.4 $ 44.5 $ 2,108.7 $ 2,546.9 December 31, 2017 With no related allowance recorded: Commercial Banking Commercial Finance $ 51.9 $ 72.7 $ — $ 59.9 Business Capital 11.7 13.4 — 5.7 Real Estate Finance — — — 0.4 With an allowance recorded: Commercial Banking Commercial Finance 95.9 96.1 21.3 136.6 Business Capital 10.5 10.5 4.3 14.2 Real Estate Finance 2.7 2.8 0.4 5.6 Total Impaired Loans (1) 172.7 195.5 26.0 222.4 Total Loans Impaired at Acquisition Date (2) 1,961.4 2,870.2 19.1 2,168.8 Total $ 2,134.1 $ 3,065.7 $ 45.1 $ 2,391.2 (1) Interest income recorded for the quarter ended March 31, 2018 while the loans were impaired was $0.3 million of which none was recognized using the cash-basis method of accounting. Interest income recorded for the year ended December 31, 2017 while the loans were impaired was $2.4 million , of which none was recognized using the cash-basis method of accounting. (2) Details of finance loans that were identified as impaired at the Acquisition Date are presented under Loans Acquired with Deteriorated Credit Quality. (3) Average recorded investment for the quarters ended March 31, 2018 , and March 31, 2017 and year ended December 31, 2017 . Loans Acquired with Deteriorated Credit Quality The Company applied the income recognition and disclosure guidance in ASC 310-30 ( Loans and Debt Securities Acquired with Deteriorated Credit Quality ) to loans that were identified as impaired as of the Acquisition Date. PCI loans were initially recorded at estimated fair value with no allowance for loan losses carried over, since the initial fair values reflected credit losses expected to be incurred over the remaining lives of the loans. The acquired loans are subject to the Company’s internal credit review. See Note 4 — Allowance for Loan Losses . Purchased Credit Impaired Loans (dollars in millions) March 31, 2018 Unpaid Principal Balance Carrying Value Allowance for Loan Losses Commercial Banking Commercial Finance $ 16.3 $ 10.4 $ 0.8 Real Estate Finance 49.4 39.2 7.0 Consumer Banking Other Consumer Banking 2.8 2.2 — Legacy Consumer Mortgages 2,710.0 1,847.2 11.4 $ 2,778.5 $ 1,899.0 $ 19.2 December 31, 2017 Commercial Banking Commercial Finance $ 16.4 $ 10.6 $ 0.7 Real Estate Finance 60.1 45.1 7.0 Consumer Banking Other Consumer Banking 3.0 2.2 — Legacy Consumer Mortgages 2,790.7 1,903.5 11.4 $ 2,870.2 $ 1,961.4 $ 19.1 The following table summarizes the carrying value of commercial PCI loans within Commercial Banking, which are monitored for credit quality based on internal risk classifications. See previous table Consumer Loan LTV Distribution for credit quality metrics on consumer PCI loans. March 31, 2018 December 31, 2017 (dollars in millions) Non- criticized Criticized Total Non- criticized Criticized Total Commercial Finance $ — $ 10.4 $ 10.4 $ — $ 10.6 $ 10.6 Real Estate Finance 20.4 18.8 39.2 21.8 23.3 45.1 Total $ 20.4 $ 29.2 $ 49.6 $ 21.8 $ 33.9 $ 55.7 Non-criticized loans generally include loans that are expected to be repaid in accordance with contractual loan terms. Criticized loans are risk rated as special mention or classified. Accretable Yield The excess of cash flows expected to be collected over the recorded investment (estimated fair value at acquisition) of the PCI loans represents the accretable yield and is recognized in interest income on an effective yield basis over the remaining life of the loan, or pools of loans. The accretable yield is adjusted for changes in interest rate indices for variable rate PCI loans, changes in prepayment assumptions and changes in expected principal and interest payments and collateral values. Further, if a loan within a pool of loans is modified, the modified loan remains part of the pool of loans. See CIT's Annual Report on Form 10-K for the year ended December 31, 2017, Note 1 — Business and Summary of Significant Accounting Policies for further details. Changes in the accretable yield for PCI loans are summarized below. Change in Accretable Yield (dollars in millions) Quarters Ended March 31, 2018 2017 Balance, beginning of period $ 1,063.7 $ 1,261.4 Accretion into interest income (44.0 ) (52.6 ) Reclassification from non-accretable difference 0.5 33.4 Disposals and Other (3.9 ) (8.5 ) Balance, end of period $ 1,016.3 $ 1,233.7 Troubled Debt Restructuring The Company periodically modifies the terms of loans in response to borrowers’ difficulties. Modifications that include a financial concession to the borrower are accounted for as troubled debt restructurings (TDRs). See the Company's Annual Report on Form 10-K for the year ended December 31, 2017 for discussion of policies on TDRs. At March 31, 2018 , the loans in trial modification period were $7.9 million under proprietary programs. Trial modifications with a recorded investment of $7.7 million at March 31, 2018 were accruing loans and $0.2 million were non-accruing loans. At December 31, 2017 , the loans in trial modification period were $0.3 million under the Home Affordable Modification Program ("HAMP") and $12.2 million under proprietary programs. Trial modifications with a recorded investment of $12.3 million at December 31, 2017 , were accruing loans and $0.2 million were non-accruing loans. Our experience is that substantially all of the mortgages that enter a trial payment period program are successful in completing the program requirements and are then permanently modified at the end of the trial period. Our allowance process considers the impact of those modifications that are probable to occur. The recorded investment of TDRs, excluding those classified as PCI and those within a trial modification period discussed in the preceding paragraph, at March 31, 2018 and December 31, 2017 was $94.4 million and $103.5 million , of which 61% and 63% , respectively, were on non-accrual. See the preceding paragraph on discussion related to TDRs in a trial modification period. Commercial Banking and Consumer Banking receivables accounted for 81% and 19% of the total TDRs, respectively, at March 31, 2018 . Commercial Banking and Consumer Banking receivables accounted for 83.0% and 17.0% of the total TDRs, respectively at December 31, 2017 . There were $15.7 million and $13.4 million as of March 31, 2018 and December 31, 2017 , respectively, of commitments to lend additional funds to borrowers whose loan terms have been modified in TDRs. The recorded investment related to modifications qualifying as TDRs that occurred during the quarters ended March 31, 2018 and 2017 were $36.5 million and $34.1 million , respectively. The recorded investment as of March 31, 2018 and 2017 of TDRs that experienced a payment default (payment default is one missed payment), during the quarters ended March 31, 2018 and 2017 , and for which the payment default occurred within one year of the modification totaled $1.6 million and $1.2 million , respectively. The defaults that occurred during the current quarter related to Commercial Banking and Consumer Banking, 74% and 26% , respectively. 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 March 31, 2018 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, 2018 was comprised of payment deferrals for 27% and covenant relief and/or other for 73% . December 31, 2017 TDR recorded investment was comprised of payment deferrals for 31% and covenant relief and/or other for 69% . ▪ Payment deferrals 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. The weighted average change in interest rates for all TDRs occurring during the quarters ended March 31, 2018 and 2017 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 quarters ended March 31, 2018 and 2017 was not significant, as debt forgiveness is a relatively small component of the Company’s modification programs. ▪ 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. Reverse Mortgages At March 31, 2018 and December 31, 2017 reverse mortgages of $860.5 million and $861.0 million , respectively, were classified as assets held-for-sale within continuing operations related to the Financial Freedom Transaction, of which $716.8 million and $724.7 million , respectively, related to the uninsured proprietary reverse mortgage loans and the remaining related to FHA-insured HECM loans. The uninsured proprietary reverse mortgage portfolio consists of approximately 1,500 loans with an unpaid principal balance of $929.4 million and $944.0 million at March 31, 2018 and December 31, 2017 , respectively. See CIT's Annual Report on Form 10-K for the year ended December 31, 2017, Note 1 — Business and Summary of Significant Accounting Policies for further details. Serviced Loans The Company services HECM reverse mortgage loans sold to Government Sponsored Enterprises (Fannie Mae) and securitized in GNMA HECM mortgage-backed securities (“HMBS”) pools. HECM loans transferred into the HMBS program have not met all the requirements for sale accounting, and therefore, the Company has accounted for these transfers as a financing transaction with the loans remaining on the Company’s statement of financial position and the proceeds received are recorded as a secured borrowing. The pledged loans and secured borrowings are reported in Assets of discontinued operations and Liabilities of discontinued operations, respectively. See Note 2 — Discontinued Operations . As servicer of HECM loans, the Company is required to repurchase loans out of the HMBS pool upon completion of foreclosure or once the outstanding principal balance is equal to or greater than 98% of the maximum claim amount. These HECM loans are repurchased at a price equal to the unpaid principal balance outstanding on the loan plus accrued interest. The repurchase transaction represents extinguishment of debt classified in discontinued operations. Although permitted under the GNMA HMBS program, the Company does not conduct optional repurchases upon the loan reaching a maturity event (i.e. borrower's death or the property ceases to be the borrower's principal residence). Upon investor (GNMA) consent to servicing transfer in connection with the Financial Freedom Transaction, CIT shall no longer have this obligation. See Note 2 - Discontinued Operations. In the quarter ended March 31, 2018 , the Company repurchased $23.9 million (unpaid principal balance) of additional HECM loans, all of which were classified as AHFS. As of March 31, 2018 , the Company had an outstanding balance of $143.7 million of HECM loans, with unpaid principal balance of $189.3 million , all of which were classified as AHFS. As of December 31, 2017 , the Company had an outstanding balance of $136.3 million of HECM loans, with unpaid principal balance of $177.6 million , all of which were classified as AHFS.

Allowance For Loan Losses

Allowance For Loan Losses	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
ALLOWANCE FOR LOAN LOSSES	ALLOWANCE FOR LOAN LOSSES The Company maintains an allowance for loan losses for estimated credit losses in its HFI loan portfolio. Allowance for Loan Losses and Recorded Investment in Loans (dollars in millions) Commercial Consumer Total Commercial Banking Consumer Banking Total Quarter Ended March 31, 2018 Quarter Ended March 31, 2017 Balance - beginning of period $ 402.2 $ 28.9 $ 431.1 $ 408.4 $ 24.2 $ 432.6 Provision for credit losses 67.2 1.6 68.8 49.2 0.5 49.7 Other (1) (2.4 ) — (2.4 ) (6.2 ) — (6.2 ) Gross charge-offs (2) (54.6 ) (0.5 ) (55.1 ) (32.4 ) (0.6 ) (33.0 ) Recoveries 4.8 0.4 5.2 5.0 0.5 5.5 Balance - end of period $ 417.2 $ 30.4 $ 447.6 $ 424.0 $ 24.6 $ 448.6 Allowance balance at March 31, 2018 Allowance balance at March 31, 2017 Loans individually evaluated for impairment $ 25.3 $ — $ 25.3 $ 39.5 $ — $ 39.5 Loans collectively evaluated for impairment 384.1 19.0 403.1 376.8 17.5 394.3 Loans acquired with deteriorated credit quality (3) 7.8 11.4 19.2 7.7 7.1 14.8 Allowance for loan losses $ 417.2 $ 30.4 $ 447.6 $ 424.0 $ 24.6 $ 448.6 Other reserves (1) $ 46.9 $ — $ 46.9 $ 49.9 $ — $ 49.9 Loans at March 31, 2018 Loans at March 31, 2017 Loans individually evaluated for impairment $ 184.2 $ — $ 184.2 $ 240.1 $ — $ 240.1 Loans collectively evaluated for impairment 23,112.1 4,258.3 27,370.4 22,530.7 4,638.6 27,169.3 Loans acquired with deteriorated credit quality (3) 49.6 1,849.4 1,899.0 107.8 2,174.2 2,282.0 Ending balance $ 23,345.9 $ 6,107.7 $ 29,453.6 $ 22,878.6 $ 6,812.8 $ 29,691.4 Percent of loans to total loans 79.3 % 20.7 % 100 % 77.1 % 22.9 % 100 % (1) “Other reserves” represents 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 allowance for loan losses associated with loan sales and foreign currency translations. (2) Gross charge-offs of amounts specifically reserved in prior periods that were charged directly to the Allowance for loan losses included $2.6 million and $14.8 million for the quarters ended March 31, 2018 and 2017, respectively, and related to Commercial Banking for all periods. (3) Represents loans considered impaired as part of the OneWest transaction and are accounted for under the guidance in ASC 310-30 (Loans and Debt Securities Acquired with Deteriorated Credit Quality).

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	INVESTMENT SECURITIES Investments include debt and equity securities. Investment Securities (dollars in millions) March 31, December 31, Available-for-sale securities Debt securities $ 5,564.1 $ 6,123.6 Securities carried at fair value with changes recorded in net income Debt securities — 0.4 Equity securities (1) 44.1 44.7 Non-marketable investments (2) 302.3 301.2 Total investment securities $ 5,910.5 $ 6,469.9 (1) Upon the adoption of ASU 2016-01 - Financial Instruments as of January 1, 2018, these investments were reclassified from available for sale securities category. For details refer to Note 1 - Business and Summary of Significant Accounting Policies. (2) Non-marketable investments include restricted stock of the FRB and Federal Home Loan Bank ("FHLB") carried at cost of $258.8 million at March 31, 2018 , and $258.9 million at December 31, 2017 . The remaining non-marketable investments totaled $ 43.5 million as of March 31, 2018 and $42.3 million at December 31, 2017 . These investments include ownership interests greater than 3% in limited partnership investments including 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 investments. Investments under the equity method and other equity investments without readily determinable fair values measured under the measurement exception totaled $ 33.8 million and $ 9.7 million at March 31, 2018 and $ 31.6 million and $ 10.7 million at December 31, 2017 respectively. Realized investment gains totaled $6.2 million and $1.6 million for the quarters ended March 31, 2018 and 2017 respectively, and exclude losses from OTTI. In addition, the Company had $3.9 billion and $1.4 billion of interest bearing deposits at banks at March 31, 2018 and December 31, 2017 , respectively, which are cash equivalents and are classified separately on the balance sheet. The following table presents interest and dividends on interest bearing deposits and investments: Interest and Dividend Income (dollars in millions) Quarters Ended March 31, 2018 2017 Interest income — debt securities $ 40.5 $ 27.8 Interest income — interest bearing deposits 7.0 12.5 Dividends — equity securities 2.8 3.3 Total interest and dividends $ 50.3 $ 43.6 The following table presents amortized cost and fair value of securities available for sale (“AFS”). Amortized Cost and Fair Value (dollars in millions) March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt securities AFS Mortgage-backed securities U.S. government agency securities $ 4,865.4 $ 0.4 $ (139.4 ) $ 4,726.4 Non-agency securities 225.6 18.4 — 244.0 U.S. government agency obligations 25.0 — (0.4 ) 24.6 U.S. Treasury securities 443.7 — (4.4 ) 439.3 Supranational securities 49.9 — (0.7 ) 49.2 State & municipal bonds 13.6 — (0.3 ) 13.3 Corporate bonds - foreign 65.7 1.6 — 67.3 Total debt securities AFS $ 5,688.9 $ 20.4 $ (145.2 ) $ 5,564.1 December 31, 2017 Debt securities AFS Mortgage-backed securities U.S. government agency securities $ 5,010.2 $ 2.1 $ (62.1 ) $ 4,950.2 Non-agency securities 297.3 21.7 (0.5 ) 318.5 U.S. government agency obligations 25.0 — (0.2 ) 24.8 U.S. Treasury securities 297.7 0.2 (0.2 ) 297.7 Supranational securities 449.8 — (0.3 ) 449.5 State & municipal bonds 16.2 — (0.4 ) 15.8 Corporate bonds - foreign 65.7 1.4 — 67.1 Total debt securities AFS 6,161.9 25.4 (63.7 ) 6,123.6 Equity securities AFS 45.8 — (1.1 ) 44.7 Total securities AFS $ 6,207.7 $ 25.4 $ (64.8 ) $ 6,168.3 The following table presents the debt securities AFS by contractual maturity dates: Maturities - Debt Securities AFS (dollars in millions) March 31, 2018 Amortized Cost Fair Value Weighted Average Yield Mortgage-backed securities — U.S. government agency securities After 5 but within 10 years $ 172.3 $ 168.6 2.12 % Due after 10 years 4,693.1 4,557.8 2.56 % Total 4,865.4 4,726.4 2.54 % Mortgage-backed securities — non-agency securities After 1 but within 5 years 12.0 12.1 5.16 % After 5 but within 10 years 5.3 5.7 4.68 % Due after 10 years 208.3 226.2 5.83 % Total 225.6 244.0 5.76 % U.S. government agency obligations After 1 but within 5 years 25.0 24.6 2.26 % Total 25.0 24.6 2.26 % U.S. Treasury securities Due within 1 year 248.1 247.8 1.53 % After 5 but within 10 years 195.6 191.5 2.51 % Total 443.7 439.3 1.96 % Supranational securities After 1 but within 5 years 49.9 49.2 2.02 % Total 49.9 49.2 2.02 % State & municipal bonds Due within 1 year 0.1 0.1 2.36 % After 1 but within 5 years 0.1 0.1 2.56 % After 5 but within 10 years 0.3 0.3 2.70 % Due after 10 years 13.1 12.8 2.38 % Total 13.6 13.3 2.39 % Corporate bonds - foreign After 1 but within 5 years 65.7 67.3 6.11 % Total 65.7 67.3 6.11 % Total debt securities AFS $ 5,688.9 $ 5,564.1 2.66 % At March 31, 2018 and December 31, 2017, certain securities AFS are in unrealized loss positions. The following table summarizes by investment category the gross unrealized losses, respective fair value and length of time that those securities have been in a continuous unrealized loss position. Gross Unrealized Loss (dollars in millions) March 31, 2018 Less than 12 months 12 months or greater Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Debt securities AFS Mortgage-backed securities U.S. government agency securities $ 3,567.3 $ (82.3 ) $ 1,133.7 $ (57.1 ) U.S. government agency obligations 24.6 (0.4 ) — — U.S. Treasury securities 439.3 (4.4 ) — — State & municipal bonds 2.0 — 11.1 (0.3 ) Supranational securities 49.2 (0.7 ) — — Total debt securities AFS $ 4,082.4 $ (87.8 ) $ 1,144.8 $ (57.4 ) December 31, 2017 Less than 12 months 12 months or greater Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Debt securities AFS Mortgage-backed securities U.S. government agency securities $ 3,492.2 $ (30.9 ) $ 1,151.4 $ (31.2 ) Non-agency securities 2.1 — 0.4 (0.5 ) U.S. government agency obligations 24.8 (0.2 ) — — U.S. Treasury securities 199.1 (0.2 ) — — State & municipal bonds — — 13.6 (0.4 ) Supranational securities 349.5 (0.3 ) — — Total debt securities AFS 4,067.7 (31.6 ) 1,165.4 (32.1 ) Equity securities AFS 0.1 (0.2 ) 44.5 (0.9 ) Total securities available-for-sale $ 4,067.8 $ (31.8 ) $ 1,209.9 $ (33.0 ) Purchased Credit-Impaired AFS Securities In connection with the OneWest acquisition, the Company classified AFS mortgage-backed securities as PCI due to evidence of credit deterioration since issuance and for which it is probable that the Company will not collect all principal and interest payments contractually required at the time of purchase. Accounting for these adjustments is discussed in 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, 2017 . Changes in the accretable yield for PCI securities are summarized below for the quarter ended March 31, 2018 and 2017: Changes in Accretable Yield (dollars in millions) Quarters Ended March 31, 2018 March 31, 2017 Balance, beginning of period $ 101.7 $ 165.0 Accretion into interest income (3.8 ) (6.5 ) Reclassifications from non-accretable difference due to improving cash flows 0.1 0.1 Reclassifications to non-accretable difference due to decreasing cash flows — (0.5 ) Disposals and other (22.3 ) — Balance, end of period $ 75.7 $ 158.1 The estimated fair value of PCI securities was $238.4 million and $312.5 million with a par value of $302.9 million and $387.6 million as of March 31, 2018 , and December 31, 2017 , respectively. Securities Carried at Fair Value with Changes Recorded in Net Income Upon the adoption of ASU 2016-01- Financial Instruments, CIT reclassified eligible equity securities AFS to Securities Carried at Fair Value with Changes Recorded in Net Income totaling $ 46.1 million and $ 44.1 million of amortized cost and fair value respectively as of March 31, 2018. The unrealized losses were $ 2 million as of March 31, 2018. The amortized cost and fair value of debt Securities carried at Fair Value with Changes Recorded in Net Income were $ 0.4 million as of December 31, 2017 with a weighted average yield of 41.8% . There were no equity Securities Carried at Fair Value with Changes Recorded in Net Income as of December 31, 2017. Other Than Temporary Impairment (“OTTI”) The Company conducted and documented its periodic review of all securities with unrealized losses, which it performs to evaluate whether the impairment is other than temporary. The Company reviewed PCI securities with unrealized losses and determined the unrealized losses were credit-related and recognized OTTI losses. There was an insignificant amount of OTTI credit-related losses recognized for the quarter ended March 31, 2018 and $0.1 million was recognized as permanent write-downs for the quarter ended March 31, 2017 . The Company reviewed debt securities classified as AFS with unrealized losses and determined that the unrealized losses were neither OTTI nor credit-related, and believes it is not more-likely-than-not that the Company will have to sell the debt securities classified as AFS with unrealized losses prior to the recovery of the amortized cost basis. There were no adjustments related to impairment for securities without readily determinable fair values measured under the measurement exception. There were immaterial unrealized losses on non-marketable investments.

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
BORROWINGS	BORROWINGS The following table presents the carrying value of outstanding borrowings. Borrowings (dollars in millions) March 31, 2018 December 31, 2017 CIT Group Inc. Subsidiaries Total Total Senior Unsecured $ 4,730.8 $ — $ 4,730.8 $ 3,737.5 Subordinated unsecured debt 395.9 — 395.9 — Secured borrowings: Structured financings — 1,416.1 1,416.1 1,541.4 FHLB advances — 3,894.5 3,894.5 3,695.5 Total Borrowings $ 5,126.7 $ 5,310.6 $ 10,437.3 $ 8,974.4 Unsecured Borrowings Revolving Credit Facility The Revolving Credit Facility has a total commitment amount of $500 million and the maturity date of the commitment is February 29, 2020 . The applicable margin charged under the facility is 2.00% for LIBOR Rate loans and 1.00% for Base Rate loans. The Revolving Credit Facility was amended in February 2018 to lower the total commitments from $750 million to $500 million and to extend the final maturity date of the lenders’ commitments from January 25, 2019 to February 29, 2020 , for all but one lender. The Revolving Credit Facility includes a covenant that requires that the Company maintain a minimum Tier 1 capital ratio of 9.0% . As of March 31, 2018 , the Revolving Credit Facility was unsecured and was guaranteed by four of the Company’s domestic operating subsidiaries. In addition, the applicable required minimum guarantor asset coverage ratio ranged from 1.0 :1.0 to 1.5 :1.0, and was 1.25 :1.0 at March 31, 2018. 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. There were no outstanding borrowings at March 31, 2018 and December 31, 2017 . The amount available to draw upon at March 31, 2018 was approximately $448 million , with the remaining amount of approximately $52 million being utilized for issuance of letters of credit to customers. Senior Unsecured Notes The following table presents the principal amounts by maturity date. Senior Unsecured Notes (dollars in millions) Maturity Date Rate (%) Date of Issuance Par Value February 2019 5.500% February 2012 $ 383.0 February 2019 3.875% February 2014 1,000.0 May 2020 5.375% May 2012 435.6 March 2021 4.125% March 2018 500.0 August 2022 5.000% August 2012 1,150.0 August 2023 5.000% August 2013 750.0 March 2025 5.250% March 2018 500.0 Weighted average rate and total 4.771% $ 4,718.6 On April 9, 2018, CIT redeemed $383 million aggregate principal amount of our 5.500% senior unsecured notes due February 2019 and $500 million aggregate principal amount of our 3.875% senior unsecured notes due February 2019, at an aggregate premium of $15.7 million . Refer to Note 15 — Subsequent Events for further disclosure. The Indentures for the senior 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 that term is defined in the Indentures for the senior unsecured notes, holders of the senior unsecured notes will have the right to require the Company, as applicable, to repurchase all or a portion of the senior unsecured notes at a purchase price equal to 101% of the principal amount, plus accrued and unpaid interest to the date of such repurchase. In addition to the above table, there is an unsecured note outstanding with a 6.0% coupon and a carrying value of $39.6 million (par value of $51 million ) that matures in 2036 . Subordinated Unsecured Notes In March 2018, CIT issued $400 million aggregate principal amount of 6.125% subordinated notes with the maturity date on March 9, 2028. The notes are subordinated in right of payment to the payment of our senior indebtedness and secured indebtedness, to the extent of the value of the collateral. Secured Borrowings At March 31, 2018 , the Company had pledged $28.7 billion of assets (including collateral for the FRB discount window that is currently not drawn). The collateral specifically identified and used to calculate available borrowings was $12.9 billion , which included $11.5 billion of loans, $1.2 billion of operating lease assets, $0.1 billion of cash and cash equivalent and $0.1 billion of investment securities. Under the FHLB Facility, CIT Bank may at any time grant a security interest in, sell, convey or otherwise dispose of any of the assets used for collateral, provided that CIT Bank is in compliance with the collateral maintenance requirement immediately following such disposition and all other requirements of the facility at the time of such disposition. FHLB Advances As a member of the FHLB of San Francisco, CIT Bank, N.A. can access financing based on an evaluation of its creditworthiness, statement of financial position, size and eligibility of collateral. The interest rates charged by the FHLB for advances typically vary depending upon maturity, the cost of funds of the FHLB, and the collateral provided for the borrowing. The advances are secured by certain Bank assets and bear either a fixed or floating interest rate. The FHLB advances are collateralized by mortgage-backed securities (“MBS”) and a variety of consumer and commercial loans, including single family residential ("SFR") mortgage loans, multi-family mortgage loans, commercial real estate loans, certain foreclosed properties and certain amounts receivable under a loss sharing agreement with the FDIC. As of March 31, 2018 , the Company had $5.3 billion of financing availability with the FHLB, of which $1.4 billion was unused and available, and $85.8 million was being utilized for issuance of letters of credit related to deposits. FHLB Advances as of March 31, 2018 have a weighted average rate of 2.04% . The following table includes the total outstanding FHLB Advances, and respective pledged assets (1) . FHLB Advances with Pledged Assets (1) Summary (dollars in millions) March 31, 2018 December 31, 2017 FHLB Advances Pledged Assets (1) FHLB Advances Pledged Assets (1) Total $ 3,894.5 $ 6,338.6 $ 3,695.5 $ 6,154.1 (1) For purposes of this table the term "Pledged Assets" means the assets required under the collateral maintenance requirement in connection with FHLB advances at each of the dates. Structured Financings Set forth in the following table are amounts primarily related to structured financings of and assets owned by consolidated VIEs. Creditors of these VIEs 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. Structured financings as of March 31, 2018 had a weighted average rate of 4.02% , with rates ranging from 0.59% to 5.5% . Structured Financings and Pledged Assets Summary (dollars in millions) March 31, 2018 December 31, 2017 Secured Borrowing Pledged Assets Secured Borrowing Pledged Assets Business Capital $ 695.5 $ 2,817.5 $ 768.8 $ 2,838.6 Rail (1) (2) 720.6 1,259.9 772.6 1,272.0 Total $ 1,416.1 $ 4,077.4 $ 1,541.4 $ 4,110.6 (1) At March 31, 2018 , the TRS Transactions related borrowings and pledged assets, respectively, of $485.0 million and $854.3 million were included in Rail. The TRS Transactions are described in Note 7 — Derivative Financial Instruments . (2) At March 31, 2018 , secured borrowings and pledged assets, respectively, of $211.5 million and $379.9 million were related to the pending sale of our European Rail business, NACCO, and will be transferred to the buyer upon sale of that business. Not included in the above table are secured borrowings of discontinued operations of $247.8 million and $268.2 million , at March 31, 2018 , and December 31, 2017 , respectively. See Note 2 — Discontinued Operations . FRB The Company has a borrowing facility with the FRB Discount Window that can be used for short-term, typically overnight, borrowings. The borrowing capacity is determined by the FRB based on the collateral pledged. There were no outstanding borrowings with the FRB Discount Window as of March 31, 2018 and December 31, 2017 . Variable Interest Entities (“VIEs”) Described below are the results of the Company’s assessment of its variable interests in order to determine its current status with regards to being the VIE primary beneficiary. Consolidated VIEs 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. Refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 for further discussion. Unconsolidated VIEs Unconsolidated VIEs include government sponsored entity (“GSE”) securitization structures, private-label securitizations and limited partnership interests where the Company’s involvement is limited to an investor interest where the Company does not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE and limited partnership interests. The Company has certain contractual obligations related to the HECM loans and the GNMA HMBS securitizations, which are VIEs for which CIT is not the primary beneficiary. The Company, as servicer of these HECM loans, is currently obligated to fund future borrower advances, which include fees paid to taxing authorities for borrowers’ unpaid taxes and insurance, mortgage insurance premiums and payments made to borrowers for line of credit draws on HECM loans. In addition, the Company is required to repurchase the HECM loans once the outstanding principal balance is equal to or greater than 98% of the maximum claim amount or when the property forecloses to OREO, which reduces the secured borrowing balance. Additionally the Company services $136.5 million and $140.3 million of HMBS outstanding principal balance at March 31, 2018 and December 31, 2017 , respectively, for transferred loans securitized by IndyMac for which OneWest Bank prior to the acquisition had purchased the mortgage servicing rights (“MSRs”) in connection with the IndyMac Transaction. The carrying value of the MSRs was not significant at March 31, 2018 and December 31, 2017 . As the HECM loans are federally insured by the FHA and the secured borrowings guaranteed to the investors by GNMA, the Company does not believe maximum loss exposure as a result of its involvement is material. The table below presents potential losses that would be incurred under hypothetical circumstances, such that the value of its interests and any associated collateral declines to zero and assuming no recovery or offset from any economic hedges. The Company believes the possibility is remote under this hypothetical scenario; accordingly, this required disclosure is not an indication of expected loss. Unconsolidated VIEs Carrying Value (dollars in millions) March 31, 2018 December 31, 2017 Securities Partnership Investment Securities Partnership Investment Agency securities $ 4,726.4 $ — $ 4,950.2 $ — Non agency securities — Other servicer 244.0 — 318.8 — Tax credit equity investments — 207.0 — 198.8 Equity investments — 46.7 — 38.6 Total Assets $ 4,970.4 $ 253.7 $ 5,269.0 $ 237.4 Commitments to tax credit investments $ — $ 79.7 $ — $ 66.6 Total Liabilities $ — $ 79.7 $ — $ 66.6 Maximum loss exposure (1) $ 4,970.4 $ 253.7 $ 5,269.0 $ 237.4 (1) Maximum loss exposure to the unconsolidated VIEs excludes the liability for representations and warranties, corporate guarantees and also excludes servicing advances.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS As part of managing exposure to interest rate and foreign currency risk, the Company enters into derivative transactions with other financial institutions. The Company also enters into derivative contracts with customers as part of its Commercial Banking business. The Company does not enter into derivative financial instruments for proprietary trading or speculative purposes. 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, 2017 , for further description of its 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) March 31, 2018 December 31, 2017 Qualifying Hedges Notional Amount Asset Fair Value Liability Fair Value Notional Amount Asset Fair Value Liability Fair Value Foreign currency forward contracts — net investment hedges $ 989.0 $ 23.9 $ (7.2 ) $ 977.3 $ 0.2 $ (18.7 ) Interest rate swap - fair value hedge (2) 250.0 0.6 — — — — Total Qualifying Hedges 1,239.0 24.5 (7.2 ) 977.3 0.2 (18.7 ) Non-Qualifying Hedges Interest rate swaps (2) 7,686.3 82.4 (65.6 ) 7,112.0 60.8 (38.6 ) Written options 2,722.4 — (2.2 ) 2,744.3 — (0.7 ) Purchased options 2,567.0 2.2 — 2,571.5 0.7 — Foreign currency forward contracts 1,505.3 9.5 (12.6 ) 1,375.5 6.9 (14.9 ) Total Return Swap (TRS) 189.6 — (16.2 ) 182.4 — (14.1 ) Equity Warrants 0.8 — — 0.8 — — Interest Rate Lock Commitments 14.6 0.1 — 7.7 0.1 — Forward Sale Commitments on Agency MBS 11.5 — (0.1 ) 8.0 — — Credit derivatives 306.3 — — 285.1 — — Total Non-qualifying Hedges 15,003.8 94.2 (96.7 ) 14,287.3 68.5 (68.3 ) Total Derivatives $ 16,242.8 $ 118.7 $ (103.9 ) $ 15,264.6 $ 68.7 $ (87.0 ) (1) Presented on a gross basis. (2) Fair value balances include accrued interest. 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. Derivative transactions are documented under an International Swaps and Derivatives Association (“ISDA”) agreement. Offsetting of Derivative Assets and Liabilities (dollars in millions) (1) 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 (2) Cash Collateral Pledged / (Received) (2)(3) Net Amount March 31, 2018 Derivative assets $ 118.7 $ — $ 118.7 $ (24.8 ) $ (33.2 ) $ 60.7 Derivative liabilities (103.9 ) — (103.9 ) 24.8 1.9 (77.2 ) December 31, 2017 Derivative assets $ 68.7 $ — $ 68.7 $ (18.7 ) $ (8.4 ) $ 41.6 Derivative liabilities (87.0 ) — (87.0 ) 18.7 23.0 (45.3 ) (1) Due to a change in clearinghouse rules, the Company accounts for swap contracts cleared by the Chicago Mercantile Exchange (“CME”) as “settled-to-market” effective January 2017. As a result, variation margin payments are characterized as settlement of the derivative exposure and variation margin balances are netted against the corresponding derivative mark-to-market balances. The Company’s swap contracts cleared by LCH Clearnet (“LCH”) continue to be accounted for as “collateralized-to-market” and variation margin balances are characterized as collateral against derivative exposures. At March 31, 2018 , gross amounts of recognized assets and liabilities were lower by $9.5 million and $6.0 million , respectively. (2) 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 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 of one of the counterparties. (3) Collateral pledged or received is included in Other assets or Other liabilities, respectively. Fair Value Hedge In the first quarter of 2018, CIT entered into a $250 million notional interest rate swap agreement to manage interest rate exposure on half of its three years 4.125% fixed-rate senior notes that were newly issued in March 2018. This agreement is designated as a fair value hedge. Derivative Instruments March 31, 2018 Amounts Recognized Derivative Hedged Item Hedge Ineffectiveness Hedges of interest rate risk on borrowings using interest rate swaps Interest Expense $ 0.5 $ (0.5 ) $ — Non Qualifying Hedges The following table presents the impact of non-qualifying hedges on the statements of income Derivative Instrument Gains and Losses (dollars in millions) Quarters Ended March 31, Derivative Instruments Gain / (Loss) Recognized 2018 2017 Non Qualifying Hedges Interest rate swaps Other income $ 4.0 $ 2.2 Interest rate options Other income 0.1 0.1 Foreign currency forward contracts Other income (29.9 ) (7.0 ) Equity warrants Other income — (0.1 ) Total Return Swap (TRS) Other income (2.1 ) (0.9 ) Interest Rate Lock Commitments Other income — 0.1 Forward Sale Commitments on Agency MBS Other income 0.2 (0.1 ) Credit Derivatives Other income (0.2 ) — Total Non-qualifying Hedges -income statement impact $ (27.9 ) $ (5.7 ) 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 Total income statement impact Derivatives - effective portion recorded in OCI Total change in OCI for period Quarter Ended March 31, 2018 Foreign currency forward contracts — net investment hedges $ — $ — $ 7.2 $ 7.2 Total $ — $ — $ 7.2 $ 7.2 Quarter Ended March 31, 2017 Foreign currency forward contracts — net investment hedges $ 6.9 $ 6.9 $ (8.9 ) $ (15.8 ) Total $ 6.9 $ 6.9 $ (8.9 ) $ (15.8 ) TRS Transactions As of March 31, 2018 , CIT was party to a financing facility between a wholly-owned Dutch subsidiary of CIT and Goldman Sachs International (“GSI”), which was structured as a total return swap (“TRS”). Amounts available for advances (otherwise known as the unused portion) were accounted for as derivatives and recorded at the estimated fair value. The total facility capacity available under the Dutch TRS was $625 million at March 31, 2018 , and December 31, 2017 . The utilized portion reflects the borrowing. The aggregate “notional amounts” of the Dutch TRS of $189.6 million at March 31, 2018 , and $182.4 million at December 31, 2017 , represent the aggregate unused portions and constitute derivative financial instruments. These notional amounts were calculated as the maximum facility commitment amount, $625 million , under the Dutch TRS, less the actual adjusted qualifying borrowing base outstanding of $435.4 million at March 31, 2018 , and $442.6 million under the facility at December 31, 2017 . The notional amounts of the derivative 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 Dutch TRS, the aggregate adjusted qualifying borrowing base of the total return swap will increase and the notional amount of the derivative will decrease accordingly. Based on the Company’s valuation, a liability of $16.2 million and $14.1 million was recorded at March 31, 2018 , and December 31, 2017 , respectively. The increase in liability of $2.1 million was recognized as a reduction to Other Income for the quarter ended March 31, 2018 and an increase in liability of $0.9 million was recognized as a reduction to Other Income for the quarter ended March 31, 2017 .

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE	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, 2017 for a description of its 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. Disclosures that follow in this note exclude assets and liabilities classified as discontinued operations. Financial Assets and Liabilities Measured at Estimated Fair Value on a Recurring Basis The following table summarizes the Company’s assets and liabilities measured at estimated fair value on a recurring basis. Assets and Liabilities Measured at Fair Value on a Recurring Basis (dollars in millions) Total Level 1 Level 2 Level 3 March 31, 2018 Assets Debt securities AFS $ 5,564.1 $ 247.8 $ 5,005.0 $ 311.3 Securities carried at fair value with changes recorded in net income (1) 44.1 0.2 43.9 — Derivative assets at fair value — non-qualifying hedges (2) 94.2 — 94.1 0.1 Derivative assets at fair value — qualifying hedges (2) 24.5 — 24.5 — Total $ 5,726.9 $ 248.0 $ 5,167.5 $ 311.4 Liabilities Derivative liabilities at fair value — non-qualifying hedges (2) $ (96.7 ) $ — $ (80.5 ) $ (16.2 ) Derivative liabilities at fair value — qualifying hedges (2) (7.2 ) — (7.2 ) — Consideration holdback liability (46.0 ) — — (46.0 ) FDIC True-up liability (65.5 ) — — (65.5 ) Total $ (215.4 ) $ — $ (87.7 ) $ (127.7 ) December 31, 2017 Assets Debt securities AFS $ 6,123.6 $ 199.0 $ 5,538.8 $ 385.8 Securities carried at fair value with changes recorded in net income 0.4 — — 0.4 Equity securities AFS 44.7 0.2 44.5 — Derivative assets at fair value — non-qualifying hedges (2) 68.5 — 68.4 0.1 Derivative assets at fair value — qualifying hedges 0.2 — 0.2 — Total $ 6,237.4 $ 199.2 $ 5,651.9 $ 386.3 Liabilities Derivative liabilities at fair value — non-qualifying hedges (2) $ (68.3 ) $ — $ (54.2 ) $ (14.1 ) Derivative liabilities at fair value — qualifying hedges (18.7 ) — (18.7 ) — Consideration holdback liability (46.0 ) — — (46.0 ) FDIC True-up liability (65.1 ) — — (65.1 ) Total $ (198.1 ) $ — $ (72.9 ) $ (125.2 ) (1) Upon the adoption of ASU 2016-01 - Financial Instruments as of January 1, 2018, equity securities AFS were reclassified to securities carried at fair value with changes recorded in net income. See Note 1 - Business and Summary of Significant Accounting Policies. (2) Derivative fair values include accrued interest. Debt and Equity Securities Classified as AFS and Securities carried at fair value with changes recorded in net income — Debt securities classified as AFS included investments in U.S. federal government agencies, U.S. Treasury Notes and supranational securities and were valued using Level 2 inputs, primarily quoted prices for similar securities. U.S. Treasury Bills and certain equity securities classified as AFS were valued using Level 1 inputs, primarily quoted prices in active markets. For Agency pass-through MBS, which are classified as Level 2, the Company generally determines estimated fair value utilizing prices obtained from independent broker dealers and recent trading activity for similar assets. Debt securities classified as AFS and securities carried at fair value with changes recorded in net income represent non-Agency MBS, the market for such securities is not active and the estimated fair value was determined using a discounted cash flow technique. The significant unobservable assumptions, which are verified to the extent possible using broker dealer quotes, are estimated by type of underlying collateral, including credit loss assumptions, estimated prepayment speeds and appropriate discount rates. Given the lack of observable market data, the estimated fair value of the non-agency MBS is classified as Level 3. Derivative Assets and Liabilities — These derivatives are valued using models that incorporate inputs depending on the type of derivative, such as interest rate curves, foreign exchange rates and volatility. Readily observable market inputs to models can be validated to external sources, including industry pricing services, or corroborated through recent trades, broker dealer quotes, yield curves, or other market-related data. As such, these derivative instruments are valued using a Level 2 methodology. In addition, these derivative values incorporate an assessment of the risk of counterparty nonperformance, measured based on the Company’s evaluation of credit risk. The fair value of the TRS derivative, written options on certain CIT Bank CDs and credit derivatives were estimated using Level 3 inputs. FDIC True-up Liability — The FDIC True-up liability was recorded at estimated fair value as of the Acquisition Date and is remeasured to fair value at each reporting date until the contingency is resolved. The FDIC True-up liability was valued using the discounted cash flow method based on the terms specified in the loss share agreement with the FDIC, the actual FDIC payments collected and significant unobservable inputs, including a risk-adjusted discount rate (reflecting the Company’s credit risk plus a liquidity premium), prepayment and default rates. Due to the significant unobservable inputs used to calculate the estimated fair value, these measurements are classified as Level 3. Consideration Holdback Liability — In connection with the OneWest acquisition, the parties negotiated 4 separate holdbacks related to select trailing risks, totaling $116 million , which reduced the cash consideration paid at closing. Any unapplied Holdback funds at the end of the respective holdback periods, which range from 1 – 5 years, are payable to the former OneWest shareholders. Unused funds for any of the four holdbacks cannot be applied against another holdback amount. The range of potential holdback to be paid is from $0 to $116 million . Based on management’s estimate of the probability of each holdback it was determined that the probable amount of holdback to be paid was originally recorded at $62.4 million , and currently is $46.0 million . The amount expected to be paid was discounted based on CIT’s cost of funds, which approximates a market rate. This contingent consideration was measured at fair value at the Acquisition Date and is re-measured at fair value in subsequent accounting periods, with the changes in fair value recorded in the statement of income, until the related contingent issues are resolved. Gross payments, which are determined based on the Company’s probability assessment, are discounted at a rate approximating the Company’s average coupon rate on deposits and borrowings. Due to the significant unobservable inputs used to calculate the estimated fair value, these measurements are classified as Level 3. The following tables summarize information about significant unobservable inputs related to the Company’s categories of Level 3 financial assets and liabilities measured on a recurring basis as of March 31, 2018 and December 31, 2017 . Quantitative Information about Level 3 Fair Value Measurements — Recurring (dollars in millions) Financial Instrument Estimated Fair Value Valuation Significant Range of Weighted March 31, 2018 Assets Securities — AFS $ 311.3 Discounted cash flow Discount Rate 0.0% - 11.6% 4.7% Prepayment Rate 3.8% - 26.7% 8.5% Default Rate 0.0% - 6.6% 3.9% Loss Severity 0.3% - 76.2% 35.5% Derivative assets — non qualifying 0.1 Internal valuation model Borrower Rate 3.5% - 4.9% 4.2% Total Assets $ 311.4 Liabilities FDIC True-up liability $ (65.5 ) Discounted cash flow Discount Rate 3.5% 3.5% Consideration holdback liability (46.0 ) Discounted cash flow Payment Probability 0% - 100% 48.0% Derivative liabilities — non-qualifying (16.2 ) Market Comparables (1) Total Liabilities $ (127.7 ) December 31, 2017 Assets Securities — AFS $ 385.8 Discounted cash flow Discount Rate 0.0% – 37.1% 4.6% Prepayment Rate 2.1% – 22.3% 8.8% Default Rate 0.0% – 7.3% 3.7% Loss Severity 0.3% – 72.4% 35.3% Securities carried at fair value with changes recorded in net income 0.4 Discounted cash flow Discount Rate 31.1% 31.1% Prepayment Rate 10.9% 10.9% Default Rate 2.4% 2.4% Loss Severity 59.2% 59.2% Derivative assets — non qualifying 0.1 Internal valuation model Borrower Rate 3.0% - 4.4% 3.8% Total Assets $ 386.3 Liabilities FDIC True-up liability $ (65.1 ) Discounted cash flow Discount Rate 2.9% 2.9% Consideration holdback liability (46.0 ) Discounted cash flow Payment Probability 0% – 100% 48.0% Derivative liabilities — non-qualifying (14.1 ) Market Comparables (1) Total Liabilities $ (125.2 ) (1) The valuation of these derivatives is primarily related to the GSI facilities and is based on several factors using a discounted cash flow methodology, including a) funding costs for similar financings based on current market conditions; b) forecasted usage of long-dated facilities through the final maturity date in 2028; and c) forecasted amortization, due to principal payments on the underlying ABS, which impacts the amount of the unutilized portion. The level of aggregation and diversity within the products disclosed in the tables results in certain ranges of inputs being wide and unevenly distributed across asset and liability categories. For instruments backed by residential real estate, diversity in the portfolio is reflected in a wide range for loss severity due to varying levels of default. The lower end of the range represents high performing loans with a low probability of default while the higher end of the range relates to more distressed loans with a greater risk of default. The valuation techniques used for the Company’s Level 3 assets and liabilities, as presented in the previous tables, are described as follows: ▪ Discounted cash flow — Discounted cash flow valuation techniques generally consist of developing an estimate of future cash flows that are expected to occur over the life of an instrument and then discounting those cash flows at a rate of return that results in the estimated fair value amount. The Company utilizes both the direct and indirect valuation methods. Under the direct method, contractual cash flows are adjusted for expected losses. The adjusted cash flows are discounted at a rate which considers other costs and risks, such as market risk and liquidity. Under the indirect method, contractual cash flows are discounted at a rate which reflects the costs and risks associated with the likelihood of generating the contractual cash flows. ▪ Market comparables — Market comparable(s) pricing valuation techniques are used to determine the estimated fair value of certain instruments by incorporating known inputs such as recent transaction prices, pending transactions, or prices of other similar investments which require significant adjustment to reflect differences in instrument characteristics. ▪ Internal valuation model — The internal model for rate lock valuation uses the spread on borrower mortgage rate and the Fannie Mae pass through rate and applies a conversion factor to assess the derivative value. Significant unobservable inputs presented in the previous tables are those the Company considers significant to the estimated fair value of the Level 3 asset or liability. The Company considers unobservable inputs to be significant if, by their exclusion, the estimated fair value of the Level 3 asset or liability would be significantly impacted based on qualitative factors such as nature of the instrument, type of valuation technique used, and the significance of the unobservable inputs on the values relative to other inputs used within the valuation. Following is a description of the significant unobservable inputs provided in the tables. ▪ Default rate — is an estimate of the likelihood of not collecting contractual amounts owed expressed as a constant default rate. ▪ Discount rate — is a rate of return used to present value the future expected cash flows to arrive at the estimated fair value of an instrument. The discount rate consists of a benchmark rate component and a risk premium component. The benchmark rate component, for example, LIBOR or U.S. Treasury rates, is generally observable within the market and is necessary to appropriately reflect the time value of money. The risk premium component reflects the amount of compensation market participants require due to the uncertainty inherent in the instruments’ cash flows resulting from risks such as credit and liquidity. ▪ Loss severity — is the percentage of contractual cash flows lost in the event of a default. ▪ Prepayment rate — is the estimated rate at which forecasted prepayments of principal of the related loan or debt instrument are expected to occur, expressed as a constant prepayment rate (“CPR”). ▪ Payment Probability — is an estimate of the likelihood the consideration holdback amount will be required to be paid expressed as a percentage. ▪ Borrower rate — Mortgage rate committed to the borrower by CIT Bank, effective for up to 90 days . As reflected above, the Company generally uses discounted cash flow techniques to determine the estimated fair value of Level 3 assets and liabilities. Use of these techniques requires determination of relevant inputs and assumptions, some of which represent significant unobservable inputs and assumptions and as a result, changes in these unobservable inputs (in isolation) may have a significant impact to the estimated fair value. Increases in the probability of default and loss severities will result in lower estimated fair values, as these increases reduce expected cash flows. Increases in the discount rate will result in lower estimated fair values, as these increases reduce the present value of the expected cash flows. Alternatively a change in one unobservable input may result in a change to another unobservable input due to the interrelationship among inputs, which may counteract or magnify the estimated fair value impact from period to period. The value of the Level 3 assets and liabilities estimated using a discounted cash flow technique would decrease (increase) upon an increase (decrease) in discount rate, default rate, loss severity or weighted average life inputs. Discount rates are influenced by market expectations for the underlying collateral performance, and therefore may directionally move with probability and severity of default; however, discount rates are also impacted by broader market forces, such as competing investment yields, sector liquidity, economic news, and other macroeconomic factors. There is no direct interrelationship between prepayments and discount rate. Prepayment rates generally move in the opposite direction of market interest rates. Increase in the probability of default will generally be accompanied with an increase in loss severity, as both are impacted by underlying collateral values. The following table summarizes the changes in estimated fair value for all assets and liabilities measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3): Changes in Estimated Fair Value of Level 3 Financial Assets and Liabilities Measured on a Recurring Basis (dollars in millions) Securities- AFS Securities Carried at Fair Value with Changes Recorded in Net Income Derivative Assets- Non- qualifying (1) Derivative Liabilities- Non- qualifying (2) FDIC True-up Liability Consideration Holdback Liability December 31, 2017 $ 385.8 $ 0.4 $ 0.1 $ (14.1 ) $ (65.1 ) $ (46.0 ) Included in earnings 3.5 — — (2.1 ) (0.4 ) — Included in comprehensive income (2.7 ) — — — — — Sales, paydowns, and adjustments (75.3 ) (0.4 ) — — — — Balance as of March 31, 2018 $ 311.3 $ — $ 0.1 $ (16.2 ) $ (65.5 ) $ (46.0 ) December 31, 2016 $ 485.5 $ 283.5 $ — $ (11.5 ) $ (61.9 ) $ (47.2 ) Included in earnings (1.7 ) 3.2 0.1 (0.8 ) (1.1 ) (0.2 ) Included in comprehensive income 6.9 — — — — — Impairment (0.1 ) — — — — — Sales, paydowns, and adjustments (20.1 ) (17.8 ) — — — — Balance as of March 31, 2017 $ 470.5 $ 268.9 $ 0.1 $ (12.3 ) $ (63.0 ) $ (47.4 ) (1) Valuation of Interest Rate Lock Commitments (2) Valuation of the derivatives related to the TRS Transactions and written options on certain CIT Bank CDs. The Company monitors the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in the observability of key inputs to a fair value measurement may result in a transfer of assets or liabilities between Level 1, 2 and 3. The Company’s policy is to recognize transfers in and transfers out as of the end of the reporting period. For the quarters ended March 31, 2018 and 2017 , there were no transfers into or out of Level 3. Assets Measured at Estimated Fair Value on a Non-recurring Basis Certain assets or liabilities are required to be measured at estimated fair value on a nonrecurring basis subsequent to initial recognition. Generally, these adjustments are the result of LOCOM or other impairment accounting. In determining the estimated fair values during the period, the Company determined that substantially all the changes in estimated fair value were due to declines in market conditions versus instrument specific credit risk. This was determined by examining the changes in market factors relative to instrument specific factors. The following table presents assets measured at estimated fair value on a non-recurring basis for which a non-recurring change in fair value has been recorded in the current year: Carrying Value of Assets Measured at Fair Value on a Non-recurring Basis (dollars in millions) Fair Value Measurements at Reporting Date Using: Total Level 1 Level 2 Level 3 Total (Losses) March 31, 2018 Assets held for sale $ 153.6 $ — $ 2.5 $ 151.1 $ (0.4 ) Other real estate owned 13.2 — — 13.2 (0.5 ) Impaired loans (1) 37.6 — — 37.6 (35.3 ) Total $ 204.4 $ — $ 2.5 $ 201.9 $ (36.2 ) December 31, 2017 Assets held for sale 177.8 — — 177.8 (15.0 ) Other real estate owned 18.8 — — 18.8 (4.4 ) Impaired loans 89.1 — — 89.1 (21.9 ) Total $ 285.7 $ — $ — $ 285.7 $ (41.3 ) (1) In the current quarter there was a $ 22 million charge-off of a single Commercial Finance exposure. Assets of continuing operations that are measured at fair value on a non-recurring basis are as follows: Assets Held for Sale — Assets held for sale are recorded at the lower of cost or fair value on the balance sheet. As there is no liquid secondary market for the 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 technique, all of which are Level 3 inputs. Carrying value of assets held for sale with impairment approximates fair value at March 31, 2018 and December 31, 2017 . Other Real Estate Owned — Estimated fair values of other real estate owned are reviewed on a quarterly basis and any decline in value below cost is recorded as impairment. Estimated fair value approximates carrying value and is generally based on market data, if available or broker price opinions or independent appraisals, adjusted for costs to sell. The estimated costs to sell are incremental direct costs to transact a sale, such as broker commissions, legal fees, closing costs and title transfer fees. The costs must be essential to the sale and would not have been incurred if the decision to sell had not been made. The range of inputs used to estimate cost to sell were 5.3% – 25.1% ; which resulted in a weighted average of 6.1% at March 31, 2018 . Significant unobservable inputs, such as a binding contract, appraised value or sales price, result in the Level 3 classification. Impaired Loans — 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 loan, with the estimated value determined using fair value of collateral and other cash flows if the loan is collateralized, the present value of expected future cash flows discounted at the contractual effective interest rate, or observable market prices. The significant unobservable inputs result in the Level 3 classification. As of the reporting date, the carrying value of impaired loans approximates fair value. Fair Values of Financial Instruments The carrying values 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 Value Level 1 Level 2 Level 3 Total March 31, 2018 Financial Assets Cash and interest bearing deposits $ 4,096.3 $ 4,096.3 $ — $ — $ 4,096.3 Derivative assets at fair value — non-qualifying hedges 94.2 — 94.1 0.1 94.2 Derivative assets at fair value — qualifying hedges 24.5 — 24.5 — 24.5 Assets held for sale (excluding leases) 980.2 — 3.6 1,011.5 1,015.1 Loans (excluding leases) 26,828.4 668.8 26,495.2 27,164.0 Securities purchased under agreement to resell 250.0 — 250.0 — 250.0 Investment securities (1) 5,910.5 248.0 5,048.9 613.6 5,910.5 Indemnification assets (2) 91.6 — — 72.2 72.2 Other assets subject to fair value disclosure and unsecured counterparty receivables (3) 476.2 — — 476.2 476.2 Financial Liabilities Deposits (4) (30,616.7 ) — — (30,638.8 ) (30,638.8 ) Derivative liabilities at fair value — non-qualifying hedges (96.7 ) — (80.5 ) (16.2 ) (96.7 ) Derivative liabilities at fair value — qualifying hedges (7.2 ) — (7.2 ) — (7.2 ) Borrowings (4) (10,480.9 ) — (9,711.9 ) (943.1 ) (10,655.0 ) Credit balances of factoring clients (1,549.0 ) — — (1,549.0 ) (1,549.0 ) Other liabilities subject to fair value disclosure (5) (613.7 ) — — (613.7 ) (613.7 ) December 31, 2017 Financial Assets Cash and interest bearing deposits $ 1,718.7 $ 1,718.7 $ — $ — $ 1,718.7 Derivative assets at fair value — non-qualifying hedges 68.5 — 68.4 0.1 68.5 Derivative assets at fair value — qualifying hedges 0.2 — 0.2 — 0.2 Assets held for sale (excluding leases) 1,011.4 — 4.7 1,044.8 1,049.5 Loans (excluding leases) 26,428.1 — 624.3 26,220.5 26,844.8 Securities purchased under agreement to resell 150.0 — 150.0 — 150.0 Investment securities (1) 6,469.9 199.2 5,583.3 687.4 6,469.9 Indemnification assets (2) 113.5 — — 87.4 87.4 Other assets subject to fair value disclosure and unsecured counterparty receivables (3) 542.2 — — 542.2 542.2 Financial Liabilities Deposits (4) (29,586.5 ) — — (29,668.6 ) (29,668.6 ) Derivative liabilities at fair value — non-qualifying hedges (68.3 ) — (54.2 ) (14.1 ) (68.3 ) Derivative liabilities at fair value — qualifying hedges (18.7 ) — (18.7 ) — (18.7 ) Borrowings (4) (9,043.8 ) — (8,281.7 ) (991.2 ) (9,272.9 ) Credit balances of factoring clients (1,468.6 ) — — (1,468.6 ) (1,468.6 ) Other liabilities subject to fair value disclosure (5) (725.2 ) — — (725.2 ) (725.2 ) (1) Level 3 estimated fair value at March 31, 2018 , includes debt securities AFS ( $311.3 million ), and non-marketable investments ( $302.3 million ). Level 3 estimated fair value at December 31, 2017 included debt securities AFS ( $385.8 million ), debt securities carried at fair value with changes recorded in net income ( $0.4 million ), and non-marketable investments ( $301.2 million ). (2) The indemnification assets included in the above table do not include Agency claims indemnification ( $28.9 million at both March 31, 2018 and December 31, 2017, respectively), as they are not considered financial instruments. (3) 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 their 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 TRS. (4) Deposits and borrowings include accrued interest, which is included in “Other liabilities” in the Balance Sheet. (5) 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. The methods and assumptions used to estimate the fair value of each class of financial instruments are explained below: Cash and interest bearing deposits — Cash and cash equivalents and restricted cash approximate estimated fair value and are classified as Level 1. Derivatives — The estimated fair values of derivatives were calculated using observable market data and represent the gross 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 and credit derivatives that utilized Level 3 inputs. See Note 7 — Derivative Financial Instruments for notional principal amounts and fair values. Investment Securities — Debt and equity securities classified as AFS are carried at fair value, as determined either by Level 1, Level 2 or Level 3 inputs. Debt securities classified as AFS included investments in U.S. federal government agency securities, U.S. Treasury Notes and supranational securities and were valued using Level 2 inputs, primarily quoted prices for similar securities. Debt securities carried at fair value with changes recorded in net income include non-agency MBS where the market for such securities is not active; therefore the estimated fair value was determined using a discounted cash flow technique, which is a Level 3 input. U.S. Treasury Bills and certain equity securities classified as AFS were valued using Level 1 inputs, primarily quoted prices in active markets. Non-marketable equity investments utilize Level 3 inputs to estimate fair value and 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 partnership equity interests, the Company used the net asset value provided by the fund manager as an appropriate measure of fair value. Assets held for sale — Of the assets held for sale above, $3.6 million carrying amount at March 31, 2018 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 technique, 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 — Within the Loans category, there are several types of loans as follows: ▪ Commercial and Consumer Loans — Of the loan balance above, $ 668.8 million and $624.3 million at March 31, 2018 and December 31, 2017 , respectively, were 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 analyses which use Level 3 inputs at both March 31, 2018 and December 31, 2017 . In addition to the characteristics of the underlying contracts, key inputs to the analysis include interest rates, prepayment rates, To Be Announced ("TBA") prices, 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, 2018 was $27.2 billion , which was 101.3% of carrying value. The fair value of loans at December 31, 2017 was $26.8 billion , which was 101.6% 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, the present value of expected cash flows utilizing the current market rate for such loan, or observable market price. 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, 2018 , the UPB related to impaired loans totaled $237.9 million . Including related allowances, these loans are carried at $158.9 million , or 66.8% of UPB. Of these amounts, $149.7 million and $101.5 million of UPB and carrying value, respectively, relate to loans with no specific allowance. As of December 31, 2017 the UPB related to impaired loans totaled $ 195.5 million . Including related allowances, these loans were carried at $ 146.7 million , or 75.0% of UPB. Of these amounts, $ 86.1 million and $ 63.6 million of UPB and carrying value, respectively, 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. ▪ PCI loans — These loans are valued by grouping the loans into performing and non-performing groups and stratifying the loans based on common risk characteristics such as product type, FICO score and other economic attributes. Due to a lack of observable market data, the estimated fair value of these loan portfolios was based on an internal model using unobservable inputs, including discount rates, prepayment rates, delinquency roll-rates, and loss severities. Due to the significance of the unobservable inputs, these instruments are classified as Level 3. Indemnification Assets — The Company’s indemnification assets relating to the SFR loans purchased in the OneWest Bank Transaction are measured on the same basis as the related indemnified item, and the underlying SFR loans. The estimated fair values reflect the present value of expected reimbursements under the indemnification agreements based on the loan performance discounted at an estimated market rate, and are classified as Level 3. Deposits — The estimated fair value of deposits with no stated maturity, such as demand deposit accounts (including custodial deposits), money market accounts, and savings accounts is the amount payable on demand at the reporting date. The estimated fair value of time deposits is determined using a discounted cash flow analysis. The discount rate for the time deposit accounts is derived from the rate currently offered on funding sources with similar maturities for similar terms, which are Level 3 inputs. Borrowings ▪ Unsecured debt — Unsecured debt includes both senior debt and subordinated debt. Approximately $5.2 billion par value at March 31, 2018 and $3.8 billion at December 31, 2017 were valued using market inputs, which are Level 2 inputs. ▪ Secured borrowings — Secured borrowings include both structured financings and FHLB Advances. Approximately $4.4 billion par value at March 31, 2018 and $4.3 billion par value at December 31, 2017 , were valued using market inputs, which are Level 2 inputs. Where market estimates were not available for approximately $1.0 billion par value at both March 31, 2018 , and December 31, 2017 , 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. Included in the above, the estimated fair value of FHLB advances, which is based on the discounted cash flow model. The

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY A roll forward of common stock is presented in the following table. Number of Shares of Common Stock Issued Less Outstanding Common Stock – December 31, 2017 207,628,491 (76,275,567 ) 131,352,924 Restricted stock issued 1,188,303 — 1,188,303 Repurchase of common stock — (3,665,866 ) (3,665,866 ) Shares held to cover taxes on vesting restricted shares and other — (470,681 ) (470,681 ) Employee stock purchase plan participation 13,603 — 13,603 Common Stock – March 31, 2018 208,830,397 (80,412,114 ) 128,418,283 During the quarter, CIT repurchased a total of $194.9 million in common shares via open market repurchases of 3,665,866 common shares at an average share price of $53.16 . Accumulated Other Comprehensive Income (Loss) ("AOCI") The following table details the components of AOCI, net of tax: Components of Accumulated Other Comprehensive Loss (dollars in millions) March 31, 2018 December 31, 2017 Gross Unrealized Income Taxes Net Unrealized Gross Unrealized Income Taxes Net Unrealized Foreign currency translation adjustments $ 1.8 $ (8.9 ) $ (7.1 ) $ 0.8 $ (8.8 ) $ (8.0 ) Changes in benefit plan net gain (loss) and prior service (cost)/credit (49.1 ) (1.7 ) (50.8 ) (53.6 ) (0.9 ) (54.5 ) Unrealized net gains (losses) on securities AFS (124.9 ) 32.9 (92.0 ) (39.5 ) 15.5 (24.0 ) Total accumulated other comprehensive loss $ (172.2 ) $ 22.3 $ (149.9 ) $ (92.3 ) $ 5.8 $ (86.5 ) The following table details the changes in the components of AOCI, net of income taxes: Changes in Accumulated Other Comprehensive Income (Loss) by Component (dollars in millions) Foreign currency translation adjustments Changes in benefit plan net gain (loss) and prior service (cost) credit Unrealized net gains (losses) on available for sale securities Total AOCI Balance as of December 31, 2017 $ (8.0 ) $ (54.5 ) $ (24.0 ) $ (86.5 ) Adoption of ASUs 2016-01 and 2018-02 (1) 3.3 0.3 (4.1 ) (0.5 ) AOCI activity before reclassifications (2.4 ) 3.3 (60.1 ) (59.2 ) Amounts reclassified from AOCI — 0.1 (3.8 ) (3.7 ) Net current period AOCI (2.4 ) 3.4 (63.9 ) (62.9 ) Balance as of March 31, 2018 $ (7.1 ) $ (50.8 ) $ (92.0 ) $ (149.9 ) Balance as of December 31, 2016 $ (61.4 ) $ (65.3 ) $ (13.4 ) $ (140.1 ) AOCI activity before reclassifications 3.3 0.9 2.7 6.9 Amounts reclassified from AOCI 9.5 — — 9.5 Net current period AOCI 12.8 0.9 2.7 16.4 Balance as of March 31, 2017 $ (48.6 ) $ (64.4 ) $ (10.7 ) $ (123.7 ) (1) See Note 1 - Business and Summary of Significant Accounting Policies for information on these ASUs. Other Comprehensive Loss The amounts included in the Statement of Comprehensive Income are net of income taxes. There were no foreign currency translation reclassification adjustments impacting net income for the quarter ended March 31, 2018 and $9.5 million for the quarter ended March 31, 2017 . The change in income taxes associated with foreign currency translation adjustments was $ (0.1) million and $4.4 million for the quarters ended March 31, 2018 and 2017 , respectively. The changes in benefit plans net gain/(loss) and prior service (cost)/credit reclassification adjustments impacting net income were $0.1 million and insignificant for the quarters ended March 31, 2018 and 2017, respectively. The change in income taxes associated with changes in benefit plans net gain/(loss) and prior service (cost)/credit was $ (0.8) million and $ (0.6) million for the quarters ended March 31, 2018 and 2017 , respectively. Reclassification adjustments impacting net income for unrealized gains/(losses) on available for sale securities was $(3.8) million and insignificant for the quarters ended March 31, 2018 and 2017, respectively. The change in income taxes associated with net unrealized gains/(losses) on available for sale securities was $17.4 million and $(1.6) million for quarters ended March 31, 2018 and 2017 , respectively. The Company has operations primarily in North America. 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 AOCI (dollars in millions) Quarters Ended March 31, 2018 2017 Gross Amount Tax Net Amount Gross Amount Tax Net Amount Income Statement line item Foreign currency translation adjustments gains $ — $ — $ — $ 8.1 $ 1.4 $ 9.5 Other Income Changes in benefit plan net gain/(loss) and prior service (cost)/credit losses 0.1 — 0.1 — — — Operating Expenses Unrealized net gains (losses) on securities AFS (5.2 ) 1.4 (3.8 ) — — — Other Income Total Reclassifications out of AOCI $ (5.1 ) $ 1.4 $ (3.7 ) $ 8.1 $ 1.4 $ 9.5

Regulatory Capital

Regulatory Capital	3 Months Ended
	Mar. 31, 2018
Regulatory Capital Requirements [Abstract]
REGULATORY CAPITAL	REGULATORY CAPITAL The Company and the Bank are each subject to various regulatory capital requirements administered by the FRB and the OCC. Quantitative measures established by regulation to ensure capital adequacy require that the Company and the Bank each maintain minimum amounts and ratios of Total, Tier 1 and Common Equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. We compute capital ratios in accordance with Federal Reserve capital guidelines and OCC capital guidelines for assessing adequacy of capital for the Company and CIT Bank, respectively. The following table summarizes the actual and minimum required capital ratios: Capital Components and Ratios (dollars in millions) CIT CIT Bank, N.A. March 31, December 31, March 31, December 31, Common Equity Tier 1 Capital $ 6,321.5 $ 6,479.8 $ 4,730.9 $ 4,751.6 Tier 1 Capital $ 6,637.7 $ 6,775.4 $ 4,730.9 $ 4,751.6 Total Capital $ 7,528.2 $ 7,251.0 $ 5,165.5 $ 5,183.3 Risk-Weighted Assets $ 44,777.8 $ 44,537.7 $ 34,742.2 $ 34,527.2 Capital Ratios: Common Equity Tier 1 Capital Ratio: Actual 14.1 % 14.5 % 13.6 % 13.8 % Effective minimum ratios under Basel III guidelines (1) 6.375 % 5.750 % 6.375 % 5.750 % Tier 1 Capital Ratio: Actual 14.8 % 15.2 % 13.6 % 13.8 % Effective minimum ratios under Basel III guidelines (1) 7.875 % 7.250 % 7.875 % 7.250 % Total Capital Ratio: Actual 16.8 % 16.3 % 14.9 % 15.0 % Effective minimum ratios under Basel III guidelines (1) 9.875 % 9.250 % 9.875 % 9.250 % Tier 1 Leverage Ratio: Actual 13.5 % 13.8 % 11.6 % 11.8 % Required minimum ratio for capital adequacy purposes 4.0 % 4.0 % 4.0 % 4.0 % (1) Required ratios under Basel III Final Rule in effect as of the reporting date including the partially phased-in capital conservation buffer .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s global effective income tax rate from continuing operations for the first quarter and year-ago quarter was 28.5% and 41.8% , respectively, including discrete tax items. The decline in the effective tax rate is primarily driven by lower statutory income tax rates from U.S. tax reform, partially offset by the impact of the change in accounting method for the low income housing tax credit ("LIHTC") investment, disallowance of FDIC insurance premiums, and state income taxes. The quarterly income tax expense is based on a projection of the Company’s annual effective tax rate. This annual effective tax rate is applied to the year-to-date consolidated pre-tax income to determine the interim provision for income taxes before discrete items. 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 currently forecasted effective tax rate may vary from the actual year-end 2018 effective tax rate due to the changes in these factors. Tax Cuts and Jobs Act The Tax Cuts and Jobs Act (or “U.S. Tax Reform legislation”) was enacted on December 22, 2017. The Tax Cuts and Jobs Act required management to make certain adjustments to the Company’s year-end financial statements for the effects of the law relating to the remeasurement of deferred taxes, liabilities for taxes due on mandatory deemed repatriation, liabilities for taxes due on other foreign income, and the reassessment of the Company’s valuation allowance. The SEC staff has afforded registrants a measurement period to record adjustments for the affects of the law, per Staff Accounting Bulletin No. 118 Income Tax Accounting Implications of the Tax Cuts and Jobs Act , similar to the measurement period used when accounting for business combinations. As of March 31, 2018, the Company has reviewed information relating to these tax law changes, and concluded that the procedures and methods utilized in developing assumptions, estimates and judgments for final and provisional amounts recorded in the financial statements are appropriate. The Company anticipates refinements to the amounts resulting from the issuance of future legislative and accounting guidance as well as those in the normal course of business, including true-ups resulting from the tax return to be filed later in 2018. However, Management does not anticipate any adjustments to the provisional amounts arising from further analysis of these tax law changes would be material. Valuation Allowances The Company established valuation allowances (“VAs”) against certain U.S. federal, U.S. state, and international deferred tax assets (“DTAs”) that are not expected to be realized in the future. The Company maintained a VA of $ 208.6 million against U.S. state DTAs on certain state net operating losses and $ 32.4 million VA against certain non-U.S. reporting entities' net DTAs as of March 31, 2018. Additionally, as of March 31, 2018, the Company maintained a $ 21.7 million U.S. federal and state VA on the DTA established on capital loss carryforwards generated in the prior year from an equity investment in a wholly-owned foreign subsidiary. Capital losses can be carried forward for five years to offset capital gains but requires a VA until additional capital gains are identified. The Company’s ability to recognize DTAs is evaluated on a quarterly basis to determine if there are any significant events that would affect its ability to utilize existing DTAs. If events are identified that affect its ability to utilize its DTAs, VAs may be adjusted accordingly. Liabilities for Uncertain Tax Positions The Company’s liability for uncertain tax positions ("UTPs") before interest and penalties was $ 13.2 million at March 31, 2018 and $ 13.5 million at December 31, 2017. The Company anticipates changes to its UTP liability upon the resolution of open tax matters and closure of statutes of limitations. Management estimates that the total potential liability before interest and penalties may be reduced by up to $ 5 million within the next twelve months. The Company’s accrued liability for interest and penalties totaled $ 6.5 million at March 31, 2018 and $ 6.3 million at December 31, 2017. The Company recognizes accrued interest and penalties on unrecognized tax benefits in income tax expense.

Commitments

Commitments	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	COMMITMENTS The accompanying table summarizes credit-related commitments and guarantees, as well as purchase and funding commitments: Commitments (dollars in millions) March 31, 2018 Due to Expire December 31, Within One Year After One Year Total Outstanding Total Outstanding Financing Commitments Financing assets (1) (2) $ 2,018.1 $ 4,689.7 $ 6,707.8 $ 6,351.1 Letters of credit Standby letters of credit 31.8 212.8 244.6 213.3 Other letters of credit 14.3 — 14.3 14.2 Guarantees Deferred purchase agreements 1,870.6 — 1,870.6 2,068.1 Guarantees, acceptances and other recourse obligations 2.1 — 2.1 2.1 Purchase and Funding Commitments Rail and other purchase commitments (1) 252.9 27.5 280.4 222.9 (1) In preparing the quarter-end financial statements as of March 31, 2018, the Company discovered and corrected an immaterial error impacting December 31, 2017 "Financing assets" and "Rail and other purchase commitments", which were understated by $113.4 million ( $86.6 million for financing assets and $26.8 million for purchase commitments). The current presentation has been revised to reflect the corrected balances at December 31, 2017. (2) The amount includes approximately $2.2 billion and $2.3 billion of undrawn financing commitments at March 31, 2018 and December 31, 2017 , respectively, for instances where the customer is not in compliance with contractual obligations or does not have adequate collateral to borrow against the unused facility, and therefore CIT does not have the contractual obligation to lend. In preparing the quarter-end financial statements as of March 31, 2018, the Company discovered and corrected an immaterial error relating to the December 31, 2017 balance of certain undrawn financing commitments where the customer was not in compliance with contractual obligations which was understated by $0.7 billion . The current presentation has been revised to reflect the corrected balance at December 31, 2017. Discontinued Operations Financing commitments include HECM reverse mortgage loan commitments associated with Financial Freedom discontinued operations of $33 million at March 31, 2018 and $34 million at December 31, 2017 . In addition, as servicer of HECM loans, the Company is required to repurchase the loan out of the GNMA HMBS securitization pools once the outstanding principal balance is equal to or greater than 98% of the maximum claim amount or when the property forecloses to OREO. In October 2017, the Company announced the sale of the Financial Freedom business and a reverse mortgage loan portfolio in connection with the Financial Freedom Transaction. Upon investor (GNMA) consent to servicing transfer in connection with the sale, CIT shall no longer have this obligation. See Note 2 - Discontinued Operations . Financing Commitments Commercial Financing commitments, referred to as loan commitments or lines of credit, primarily 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 $1,464.9 million at March 31, 2018 and $950.3 million at December 31, 2017 . Financing commitments also include credit line agreements to Business Capital 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 $105 million at March 31, 2018 and $190 million at December 31, 2017 . As financing commitments may not be fully drawn, may expire unused, may be reduced or canceled 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. At March 31, 2018 , substantially all undrawn financing commitments were senior facilities. Most of the Company’s undrawn and available financing commitments are in the Commercial Banking segment. The table above excludes uncommitted revolving credit facilities extended by Business Capital to its clients for working capital purposes. In connection with these facilities, Business Capital 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. Consumer The Company is committed to fund draws on certain reverse mortgages in conjunction with loss sharing agreements with the FDIC. The FDIC agreed to indemnify the Company for losses on the first $200 million of draws that occur subsequent to the purchase date. In addition, the FDIC agreed to fund any other draws in excess of the $200 million . As of March 31, 2018 and December 31, 2017 , $ 132 million and $ 134 million , respectively, had been advanced on the reverse mortgage loans post March 2009. The Company’s exposure for additional draws on loan commitments on these purchased reverse mortgage loans was $68 million at March 31, 2018 and $66 million at December 31, 2017 . The aggregate amount advanced and the remaining loan commitments on these purchased loans increase or decrease as the Company funds additional draws or outstanding draws are repaid. See Note 5 — Indemnification Assets of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 for further discussion on the loss sharing agreements with the FDIC. Also included was the Company’s commitment to fund draws on certain home equity lines of credit (“HELOCs”). Under the HELOC participation and servicing agreement entered into with the FDIC, the FDIC agreed to reimburse the Company for a portion of the draws that the Company made on the purchased HELOCs. 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 90 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 $1,774 million and $1,979 million of DPA credit protection at March 31, 2018 and December 31, 2017 , 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 $96 million and $89 million available under DPA credit line agreements, net of the amount of DPA credit protection provided at March 31, 2018 and December 31, 2017 , 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 loans, 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 $5.4 million and $5.3 million at March 31, 2018 and December 31, 2017 , respectively. Purchase and Funding Commitments CIT’s purchase commitments relate primarily to purchases of rail equipment. The Company’s rail business entered into commitments to purchase railcars from multiple manufacturers. At March 31, 2018 , approximately 2,120 railcars remain to be purchased from manufacturers with deliveries through 2019 . Rail equipment purchase commitments are at fixed prices subject to price increases for certain materials. Other purchase commitments primarily relate to Equipment Finance. Other Commitments The Company has commitments to invest in affordable housing investments, and other investments qualifying for community reinvestment tax credits. These commitments were $80 million at March 31, 2018 and $67 million at December 31, 2017 . These commitments are payable on demand and are recorded in Other liabilities.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2018
Loss Contingency [Abstract]
CONTINGENCIES	CONTINGENCIES Litigation and other Contingencies CIT is involved, and from time to time in the future may be involved, in a number of pending and threatened 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 and other matters where losses are reasonably possible, management currently estimates the aggregate range of reasonably possible losses as up to $55 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, 2018 . 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. The Company has several hundred threatened and pending judicial, regulatory and arbitration proceedings at various stages. Several of the Company’s significant Litigation matters are described below. Brazilian Tax Matter Banco Commercial Investment Trust do Brasil S.A. (“Banco CIT”), CIT’s Brazilian bank subsidiary, was sold in a stock sale in the fourth quarter of 2015, thereby transferring the legal liabilities of Banco CIT to the buyer. Under the terms of the stock sale, CIT remains liable for indemnification to the buyer for any losses resulting from certain Imposto Sobre Circulaco de Mercadorias e Servicos (“ICMS”) tax appeals relating to disputed local tax assessments on leasing services and importation of equipment (the “ICMS Tax Appeals”). Notices of infraction were issued to Banco CIT relating to the payment of ICMS taxes charged by Brazilian states in connection with the importation of equipment. The state of São Paulo claims that Banco CIT should have paid it ICMS taxes for tax years 2006 - 2009 because Banco CIT, the purchaser, was located in São Paulo. Instead, the ICMS taxes were paid to the state of Espirito Santo where the imported equipment arrived. A 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. An assessment related to taxes paid to Espirito Santo was upheld in a ruling issued by the administrative court in May 2014. That ruling has been appealed. Another assessment related to taxes paid to Espirito Santo remains pending. Petitions seeking São Paulo’s recognition of the taxes paid to Espirito Santo were also filed in a general amnesty program. In the first quarter of 2018, CIT was advised that the larger of the two amnesty petitions had been granted and dismissal of that matter would be considered by the court in the second quarter. The second amnesty petition remains pending. Hawaiian Foreclosure Litigation Claims Based on recent rulings of the Hawaii Supreme Court, lawsuits have been filed against CIT in Hawaii alleging technical violations in non-judicial foreclosures. Similar cases have been filed against other mortgage lenders in Hawaii. The Hawaii Supreme Court did not establish a clear methodology for calculating alleged damages if a violation is proven and there is substantial dispute in this regard. In many instances the borrower had no equity in the home at the time of foreclosure. Damages sought in these cases include any lost equity, compensation for loss of use of the house and, in some cases, treble or punitive damages under Hawaii's unfair practices law. At this time, the Company does not have sufficient information to make an assessment of the outcome or the impact of these cases. HUD OIG Investigation In 2009, OneWest Bank acquired the reverse mortgage loan portfolio and related servicing rights of Financial Freedom Senior Funding Corporation, including HECM loans, from the FDIC as Receiver for IndyMac Federal Bank. HECM loans are insured by the FHA, and administered by HUD. In addition, Financial Freedom is the servicer of HECM loans owned by third party investors. Beginning in the third quarter of 2015, the Office of the Inspector General for HUD (the “HUD OIG”), served a series of subpoenas on the Company regarding HECM loans. The subpoenas requested documents and other information related to Financial Freedom’s HECM loan origination and servicing business, including the curtailment of interest payments on HECM insurance claims. On May 16, 2017 CIT entered into a settlement of approximately $89 million to resolve the servicing related claims. The settlement was within CIT’s existing reserves and included interest to be reimbursed to HUD. CIT has provided information and documents responsive to the subpoena’s request for information relating to the mortgage originations and does not currently expect the outcome of the remaining loan origination matter to have a material adverse effect on CIT’s financial condition or results of operations. NY Attorney General In the second quarter of 2017, the Office of the Attorney General of the State of New York (“NYAG”), served a subpoena on the Company regarding HECM loans. The subpoena requested documents and other information related to Financial Freedom’s HECM loan business in the State of New York. The NYAG subsequently withdrew the subpoena and has requested the Company’s continued voluntary cooperation with the inquiry. The Company is continuing to cooperate with the NYAG’s office and has produced certain documents. The Company does not have sufficient information to make an assessment of the outcome or the impact of the NYAG’s ongoing inquiry.

Business Segment Information

Business Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION Segment Profit and Assets The following table presents segment data related to continuing operations. Refer to Note 25 — Business Segment Information in our Annual Report on Form 10-K for the year ended December 31, 2017 for further detailed information. Segment Pre-tax Income (Loss) (dollars in millions) Commercial Banking Consumer Banking Non-Strategic Portfolios Corporate and Other Total CIT Quarter Ended March 31, 2018 Interest income $ 314.9 $ 85.2 $ 2.4 $ 48.7 $ 451.2 Interest expense (benefit) 156.3 (24.3 ) 1.7 46.8 180.5 Provision for credit losses 67.2 1.6 — — 68.8 Rental income on operating leases 253.6 — — — 253.6 Other non-interest income 78.0 11.5 1.2 14.0 104.7 Depreciation on operating lease equipment 76.4 — — — 76.4 Maintenance and other operating lease expenses 57.4 — — — 57.4 Operating expenses / loss on debt extinguishment and deposit redemption 183.1 96.0 2.2 0.1 281.4 Income (loss) from continuing operations before provision (benefit) for income taxes $ 106.1 $ 23.4 $ (0.3 ) $ 15.8 $ 145.0 Select Period End Balances Loans $ 23,345.9 $ 6,107.7 $ — $ — $ 29,453.6 Credit balances of factoring clients 1,549.0 — — — 1,549.0 Assets held for sale 1,376.3 864.0 58.5 — 2,298.8 Operating lease equipment, net 6,774.9 — — — 6,774.9 Quarter Ended March 31, 2017 Interest income $ 307.5 $ 100.0 $ 7.0 $ 41.2 $ 455.7 Interest expense (benefit) 119.8 (6.5 ) 5.0 44.8 163.1 Provision for credit losses 49.2 0.5 — — 49.7 Rental income on operating leases 251.3 — — — 251.3 Other non-interest income 72.3 7.9 (2.9 ) 1.8 79.1 Depreciation on operating lease equipment 73.5 — — — 73.5 Maintenance and other operating lease expenses 53.8 — — — 53.8 Operating expenses / loss on debt extinguishment 178.7 95.6 2.0 35.3 311.6 Income (loss) from continuing operations before provision (benefit) for income taxes $ 156.1 $ 18.3 $ (2.9 ) $ (37.1 ) $ 134.4 Select Period End Balances Loans $ 22,878.6 $ 6,812.8 $ — $ — $ 29,691.4 Credit balances of factoring clients 1,547.1 — — — 1,547.1 Assets held for sale 336.4 64.1 162.1 — 562.6 Operating lease equipment, net 7,516.2 — — — 7,516.2

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Debt Redemption In April 2018, CIT repaid $ 500 million of the $ 1.0 billion outstanding 3.875% senior unsecured notes due February 2019 and all of the outstanding $ 383 million of 5.500% senior unsecured notes due February 2019. The debt was repaid at a premium of $ 16 million . Cash Tender Offer for CIT Common Stock On April 26, 2018, CIT commenced a modified "Dutch auction" cash tender offer to purchase up to $500 million of its common stock, par value $ 0.01 per share. The offer will expire on May 23, 2018, unless extended or earlier terminated by CIT. Under the terms of the tender offer, CIT stockholders have the opportunity to tender some or all of their shares at a price within a range of $ 50.00 to $ 56.00 per share. The tender offer will be subject to certain conditions described in the offer to purchase. This return of capital to stockholders is being made pursuant to CIT's 2017 Amended Capital Plan.

Business and Summary of Signi23

Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Financial Information	Basis of Financial Information 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, in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement 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 Form 10-K for the year ended December 31, 2017 . The accounting and financial reporting policies of CIT 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, purchase accounting adjustments, indemnification assets, goodwill, intangible assets, and contingent liabilities, including amounts associated with the discontinued operation. Additionally where applicable, the policies conform to accounting and reporting guidelines prescribed by bank regulatory authorities.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include financial information related to CIT 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 intercompany accounts and transactions have been eliminated. Assets held in an agency or fiduciary capacity are not included in the consolidated financial statements. The current period’s results of operations do not necessarily indicate the results that may be expected for any other interim period or for the full year as a whole.
Discontinued Operations	Discontinued Operations Discontinued Operations as of March 31, 2018 and December 31, 2017 included certain assets and liabilities of (i) the Financial Freedom business that was acquired as part of the OneWest Transaction and (ii) the Business Air business. Income from discontinued operations reflects the activities of the Financial Freedom and Business Air businesses for the quarter ended March 31, 2018 and the Financial Freedom and the Aerospace (Commercial Air and Business Air) businesses for the quarter ended March 31, 2017 . We completed the sale of our Commercial Air business in April 2017. On October 6, 2017, CIT announced that CIT Bank, N.A. has agreed to sell Financial Freedom, its reverse mortgage servicing business and the reverse mortgage portfolio serviced by Financial Freedom (the “Financial Freedom Transaction”). The Financial Freedom Transaction is targeted to close in the second quarter of 2018 and is subject to certain regulatory and investor approvals and other customary closing conditions.
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES Significant accounting policies are included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 ("2017 Form 10-K"). Effective January 1, 2018, CIT changed its accounting policy for revenue recognition resulting from the adoption of Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers and subsequent related Accounting Standards Updates ("ASUs") . There were no other material changes to policies during the quarter ended March 31, 2018 . Refer to Newly Adopted Accounting Standards for other ASUs adopted in Q1 2018. Revenue Recognition On January 1, 2018, CIT adopted ASU 2014-09, Revenue Recognition - Revenue from Contracts with Customers (ASC 606) and subsequent related ASUs. ASU 2014-09 establishes the principles to apply in determining the amount and timing of revenue recognition. The core principle is that a company will recognize revenue when it transfers control of goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. The guidance introduces a five step, principle-based model, requiring more judgment than under previous GAAP to determine when and how revenue is recognized. The standard defers to existing guidance where revenue recognition models are already in place. "Interest Income" and "Rental Income on Operating Leases", CIT's two largest revenue items, are out of scope of the new guidance, as are many other revenues relating to other financial assets and liabilities, including loans, leases, securities, and derivatives. As a result, the implementation of the new guidance was limited to certain revenue streams within Non-Interest Income, including some immaterial bank related fees and gains or losses related to the sale and disposition of leased equipment and Other Real Estate Owned ("OREO"), which is accounted for under ASC 610-20, Gains and Losses From the Derecognition of Nonfinancial Assets and requires the Company to apply certain recognition and measurement principles of ASC 606. CIT evaluated its in-scope revenue streams under the five step model and concluded that ASU 2014-09 did not materially impact the current practice of revenue recognition as ASC 606 is consistent with the current accounting policy being applied by the Company for these revenues. Therefore, no change in the timing or amount of income recognized was identified. CIT also determined that costs incurred to obtain or fulfill contracts and financing components relating to in-scope revenue streams were immaterial to the Company. Non-interest revenue, including amounts related to the sale and disposition of leased equipment and OREO, is recognized at an amount reflecting the consideration received, or expected to be received, when control of goods or services is transferred, which generally occurs when services are provided or control of leased equipment or OREO is liquidated. ASU 2014-09 was adopted using the modified retrospective transition method. CIT elected to apply this guidance only to contracts that were not completed at the date of the initial application. The adoption did not have a significant impact on CIT’s financial statements or disclosures. No adjustment to the opening balance of retained earnings was necessary. Interest income on held for investment ("HFI") loans is recognized using the effective interest method or on a basis approximating a level rate of return over the life of the asset. Interest income includes components of accretion of the fair value discount on loans and lease receivables recorded in connection with Purchase Accounting Adjustments (“PAA”), which are accreted using the effective interest method as a yield adjustment over the remaining contractual term of the loan and recorded in interest income. If the loan is subsequently classified as assets held for sale ("AHFS"), accretion (amortization) of the discount (premium) will cease. Rental revenue on operating leases is recognized on a straight line basis over the lease term and is included in Non-interest Income. Intangible assets related to acquisitions completed by the Company and Fresh Start Accounting (“FSA”) adjustments that were applied as of December 31, 2009 (the Convenience Date), were recorded to adjust the carrying value of above or below market operating lease contracts to their fair value. The FSA related adjustments (net) are amortized into rental income on a straight line basis over the remaining term of the respective lease. The recognition of interest income (including accretion) on commercial loans (exclusive of small ticket commercial loans) is suspended and an account is placed on non-accrual status when, in the opinion of management, full collection of all principal and interest due is doubtful. All future interest accruals, as well as amortization of deferred fees, costs, purchase premiums or discounts are suspended. To the extent the estimated cash flows, including fair value of collateral, does not satisfy both the principal and accrued interest outstanding, accrued but uncollected interest at the date an account is placed on non-accrual status is reversed and charged against interest income. Subsequent interest received is applied to the outstanding principal balance until such time as the account is collected, charged-off or returned to accrual status. Loans that are on cash basis nonaccrual do not accrue interest income; however, payments designated by the borrower as interest payments may be recorded as interest income. To qualify for this treatment, the remaining recorded investment in the loan must be deemed fully collectable. The recognition of interest income (including accretion) on consumer mortgages and small ticket commercial loans and lease receivables is suspended and all previously accrued but uncollected revenue is reversed, when payment of principal and/or interest is contractually delinquent for 90 days or more. Accounts, including accounts that have been modified, are returned to accrual status when, in the opinion of management, collection of remaining principal and interest is reasonably assured, and there is a sustained period of repayment performance for a minimum of six months. The recognition of interest income on reverse mortgages is suspended upon the latter of the foreclosure sale date or date on which marketable title has been acquired (i.e. property becomes OREO). The Company periodically modifies the terms of a loan in response to borrowers’ financial difficulties. These modifications may include interest rate changes, principal forgiveness or payment deferments. Loans that are modified, where a concession has been made to the borrower, are accounted for as Troubled Debt Restructurings (“TDRs”). TDRs are generally placed on nonaccrual upon their restructuring and remain on non-accrual until, in the opinion of management, collection of remaining principal and interest is reasonably assured, and upon collection of six consecutive scheduled payments. Purchased credit impaired ("PCI") loans in pools that the Company may modify as TDRs are not within the scope of the accounting guidance for TDRs. Fair Value Hedging As noted in the Company's 2017 Form 10-K, CIT early adopted ASU 2017-12, Derivatives and Hedging (Topic 815) - Targeted Improvements to Accounting for Hedging Activities in fourth quarter of 2017. In accordance with this new guidance, the Company presents the entire change in the fair value of the hedging instrument included in the assessment of hedge effectiveness in the same income statement line as the earnings effect of the hedged item. See Note 7 — Derivative Financial Instruments for further details. Other Newly Adopted Accounting Standards The following pronouncements were issued by the Financial Accounting Standards Board (“FASB”) and adopted by CIT as of January 1, 2018: Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities and Technical Corrections and Improvements to Financial Instruments - Overall ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities includes amendments on recognition, measurement, presentation and disclosure of financial instruments. In addition, this guidance adds a new Topic (ASC 321, Investments - Equity Securities) to the FASB Accounting Standards Codification, which provides guidance on accounting for equity investments. ASU 2018-03, Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825-10) clarifies certain aspects of ASU 2016-01. CIT adopted these standards as of January 1, 2018 with a cumulative-effect adjustment to the balance sheet as of the adoption date. The cumulative-effect adjustment resulted in a decrease in retained earnings due to the reclassification of $ 1.1 million of unrealized losses from accumulated other comprehensive loss to opening retained earnings. The adoption of these standards did not have a material impact on CIT’s consolidated financial statements and disclosures. Income Taxes (Topic 740): Intra - Entity Transfers of Assets Other Than Inventory ASU 2016-16, Income Taxes (Topic 740): Intra - Entity Transfers of Assets Other Than Inventory requires that a Company recognize the tax expense from the sale of an asset in the seller’s tax jurisdiction when the transfer occurs, and any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer even though the pre-tax effects of the transaction are eliminated in consolidation. CIT adopted this guidance as of January 1, 2018 using a modified retrospective approach. The adoption did not have a material impact on CIT's consolidated financial statements and disclosures. The balance sheet impact was an approximately $ 0.2 million increase to the opening retained earnings due to the adjustment recorded. Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments and Restricted Cash ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments clarifies how entities should classify certain cash receipts and cash payments within the statement of cash flows. The new guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. CIT retrospectively adopted this guidance as of January 1, 2018, to each period presented. The adoption did not have a material impact on CIT’s consolidated financial statements and disclosures. ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cas h requires that the Statement of Cash Flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. CIT retrospectively adopted this guidance as of January 1, 2018, to each period presented. The adoption did not have a material impact on CIT’s consolidated financial statements and disclosures. Business Combinations (Topic 805): Clarifying the Definition of a Business ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business narrows the definition of a business and provides guidance to assist entities with evaluating when a set of transferred assets and activities is a business. CIT adopted this guidance effective January 1, 2018. The adoption did not have a material impact on CIT’s consolidated financial statements and disclosures. Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost requires employers that present a measure of operating income in their Statement of Income to include only the service cost component of net periodic pension cost and net periodic postretirement benefit cost in operating expenses (together with other employee compensation costs). The other components of net benefit cost, including amortization of prior service cost/credit, and settlement and curtailment effects, are to be included in non-operating expenses in a separate line item(s). This standard also stipulates that only the service cost component of net benefit cost is eligible for capitalization. The amendments related to presentation of service cost and other components in the Income Statements must be applied retrospectively to all periods presented. The amendments related to the capitalization of the service cost component should be applied prospectively, on and after the date of adoption. CIT adopted this guidance as of January 1, 2018. The adoption was determined not to be material to the financial statements and disclosures. Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. CIT prospectively adopted this guidance as of January 1, 2018. The adoption did not have a material impact on CIT’s consolidated financial statements and disclosures. Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ASU 2018-02 Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Cuts and Jobs Act and will improve the usefulness of information reported to financial statement users. CIT early adopted this guidance as of January 1, 2018 by applying the aggregate portfolio approach. Adjustment to opening retained earnings due to the reclassification of certain tax effects stranded in accumulated other comprehensive income was a $ 1.6 million increase. The adoption did not have a material impact on CIT’s consolidated financial statements and disclosures. Recent Accounting Pronouncements The following accounting pronouncements were issued by the FASB but are not yet effective for CIT. Standard Summary of Guidance Effect on CIT's Financial Statements ASU 2017-08, Receivables -Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities Issued March 2017 • ASU 2017-08 shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. • The new guidance applies to all entities that hold investments in callable debt securities for which the amortized cost basis exceeds the amount repayable by the issuer at the earliest call date (i.e., at a premium). • This guidance must be adopted on a modified retrospective basis through a cumulative-effect adjustment to retained earnings. • Effective for CIT as of January 1, 2019. • CIT is currently evaluating the impact of this standard on its consolidated financial statements and disclosures and does not intend to early adopt this standard. ASU 2016-02, Leases (Topic 842) Issued February 2016 • Lessees will need to recognize all leases longer than twelve months on the consolidated balance sheets as lease liabilities with corresponding right-of-use assets. For Income Statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit thresholds. • Lessor accounting remains similar to the current model, but updated to align with certain changes to the lessee model (e.g., certain definitions, such as initial direct costs, have been updated) and the new revenue recognition standard. Lease classifications by lessors are similar, operating, direct financing, or sales-type. • The ASU requires both quantitative and qualitative disclosures regarding key information about leasing arrangements. The new standard must be adopted using a modified retrospective transition, and provides for certain practical expedients. Transition will require application of the new guidance at the beginning of the earliest comparative period presented. Early adoption is permitted. • Effective for CIT as of January 1, 2019. • CIT will need to determine the impact where it is both a lessee and a lessor: • Lessor accounting: CIT is analyzing the impact of changes to the definition of ‘initial direct costs’ under the new guidance. The new standard has a narrower definition of initial direct costs, which will result in CIT recognizing increased upfront expenses offset by higher yield over the lease term. CIT is currently evaluating the bifurcation of certain non-lease components from lease revenue streams. If goods or services are determined to be a non-lease component and accounted for under ASC 606 or other applicable GAAP guidance, the income recognition may differ from current accounting. • Lessee accounting: CIT is continuing to evaluate the impact of the amended guidance on its Condensed consolidated financial statements. CIT expects to recognize right-of-use assets and lease liabilities for substantially all of its operating lease commitments based on the present value of unpaid lease payments as of the date of adoption. • CIT management has assembled a project committee to assess the impact of this guidance. Initial scoping and assessment is complete and CIT is continuing to evaluate the impact on its consolidated financial statements and disclosures. ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Issued June 2016 • Introduces a forward-looking “expected loss” model (the “Current Expected Credit Losses” (“CECL”) model) to estimate credit losses to cover the full remaining expected life of the portfolio upon adoption, rather than the incurred loss model under current U.S. GAAP, on certain types of financial instruments. • It eliminates existing guidance for PCI loans, and requires recognition of an allowance for expected credit losses on financial assets purchased with more than insignificant credit deterioration since origination. • It amends existing impairment guidance for AFS securities to incorporate an allowance, which will allow for reversals of impairment losses in the event that the credit of an issuer improves. • In addition, it expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating the ALLL. • Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted (modified-retrospective approach). • Effective for CIT as of January 1, 2020. • CIT management has established a project team and an oversight committee to assess the impact of this guidance and implement this standard. Initial gap assessment is complete and CIT is continuing to evaluate the impact on its consolidated financial statements and disclosures. • While CIT is currently in the process of evaluating the impact of the amended guidance on its Condensed consolidated financial statements, it currently expects the ALLL to increase upon adoption given that the allowance will be required to cover the full remaining expected life of the portfolio upon adoption, rather than the incurred loss model under current U.S. GAAP. The extent of this increase is still being evaluated and will depend on economic conditions and the composition of CIT’s loan and lease portfolios at adoption date.
Impaired Loans	Impaired Loans The Company’s policy is to review for impairment loans greater than $500,000 that are on non-accrual status, as well as short-term factoring receivables greater than $500,000 when events or circumstances indicate that it is probable that CIT will be unable to collect all amounts due according to the contractual terms of the factoring agreement. Small-ticket loan and lease receivables that have not been modified in a restructuring are included (if appropriate) in the reported non-accrual balances above, but are excluded from the impaired loans disclosure below as charge-offs are typically determined and recorded for such loans when they are more than 90 – 150 days past due.
Litigation and other Contingencies	Litigation and other Contingencies CIT is involved, and from time to time in the future may be involved, in a number of pending and threatened 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 and other matters where losses are reasonably possible, management currently estimates the aggregate range of reasonably possible losses as up to $55 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, 2018 . 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. The Company has several hundred threatened and pending judicial, regulatory and arbitration proceedings at various stages.

Business and Summary of Signi24

Business and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The following accounting pronouncements were issued by the FASB but are not yet effective for CIT. Standard Summary of Guidance Effect on CIT's Financial Statements ASU 2017-08, Receivables -Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities Issued March 2017 • ASU 2017-08 shortens the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. • The new guidance applies to all entities that hold investments in callable debt securities for which the amortized cost basis exceeds the amount repayable by the issuer at the earliest call date (i.e., at a premium). • This guidance must be adopted on a modified retrospective basis through a cumulative-effect adjustment to retained earnings. • Effective for CIT as of January 1, 2019. • CIT is currently evaluating the impact of this standard on its consolidated financial statements and disclosures and does not intend to early adopt this standard. ASU 2016-02, Leases (Topic 842) Issued February 2016 • Lessees will need to recognize all leases longer than twelve months on the consolidated balance sheets as lease liabilities with corresponding right-of-use assets. For Income Statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit thresholds. • Lessor accounting remains similar to the current model, but updated to align with certain changes to the lessee model (e.g., certain definitions, such as initial direct costs, have been updated) and the new revenue recognition standard. Lease classifications by lessors are similar, operating, direct financing, or sales-type. • The ASU requires both quantitative and qualitative disclosures regarding key information about leasing arrangements. The new standard must be adopted using a modified retrospective transition, and provides for certain practical expedients. Transition will require application of the new guidance at the beginning of the earliest comparative period presented. Early adoption is permitted. • Effective for CIT as of January 1, 2019. • CIT will need to determine the impact where it is both a lessee and a lessor: • Lessor accounting: CIT is analyzing the impact of changes to the definition of ‘initial direct costs’ under the new guidance. The new standard has a narrower definition of initial direct costs, which will result in CIT recognizing increased upfront expenses offset by higher yield over the lease term. CIT is currently evaluating the bifurcation of certain non-lease components from lease revenue streams. If goods or services are determined to be a non-lease component and accounted for under ASC 606 or other applicable GAAP guidance, the income recognition may differ from current accounting. • Lessee accounting: CIT is continuing to evaluate the impact of the amended guidance on its Condensed consolidated financial statements. CIT expects to recognize right-of-use assets and lease liabilities for substantially all of its operating lease commitments based on the present value of unpaid lease payments as of the date of adoption. • CIT management has assembled a project committee to assess the impact of this guidance. Initial scoping and assessment is complete and CIT is continuing to evaluate the impact on its consolidated financial statements and disclosures. ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Issued June 2016 • Introduces a forward-looking “expected loss” model (the “Current Expected Credit Losses” (“CECL”) model) to estimate credit losses to cover the full remaining expected life of the portfolio upon adoption, rather than the incurred loss model under current U.S. GAAP, on certain types of financial instruments. • It eliminates existing guidance for PCI loans, and requires recognition of an allowance for expected credit losses on financial assets purchased with more than insignificant credit deterioration since origination. • It amends existing impairment guidance for AFS securities to incorporate an allowance, which will allow for reversals of impairment losses in the event that the credit of an issuer improves. • In addition, it expands the disclosure requirements regarding an entity’s assumptions, models, and methods for estimating the ALLL. • Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted (modified-retrospective approach). • Effective for CIT as of January 1, 2020. • CIT management has established a project team and an oversight committee to assess the impact of this guidance and implement this standard. Initial gap assessment is complete and CIT is continuing to evaluate the impact on its consolidated financial statements and disclosures. • While CIT is currently in the process of evaluating the impact of the amended guidance on its Condensed consolidated financial statements, it currently expects the ALLL to increase upon adoption given that the allowance will be required to cover the full remaining expected life of the portfolio upon adoption, rather than the incurred loss model under current U.S. GAAP. The extent of this increase is still being evaluated and will depend on economic conditions and the composition of CIT’s loan and lease portfolios at adoption date.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Condensed Balance Sheet, Statement of Operations, and Cash Flows from Discontinued Operations	The following tables reflect the combined results of the discontinued operations. Details of the balances are discussed in prior tables. Condensed Combined Balance Sheet (dollars in millions) March 31, 2018 December 31, 2017 Total cash and deposits $ 9.8 $ 7.7 Net Loans 406.7 438.6 Operating lease equipment, net 11.4 18.4 Other assets 35.2 36.6 Assets of discontinued operations $ 463.1 $ 501.3 Secured borrowings $ 247.8 $ 268.2 Other liabilities 248.8 241.1 Liabilities of discontinued operations $ 496.6 $ 509.3 Condensed Combined Statement of Income (dollars in millions) Quarters Ended March 31, 2018 2017 Interest income $ 4.2 $ 22.9 Interest expense 3.1 98.4 Rental income on operating leases 0.5 306.7 Other income (losses) 5.7 20.7 Maintenance and other operating lease expenses — 4.2 Operating expenses 16.4 47.6 Loss on debt extinguishment — 39.0 Income (loss) from discontinued operations before benefit (provision) for income taxes (9.1 ) 161.1 (Benefit) provision for income taxes (2.4 ) 72.1 Gain on sale of discontinued operations, net of taxes — 12.7 Income (loss) from discontinued operations, net of taxes $ (6.7 ) $ 101.7 Condensed Combined Statement of Cash Flows (dollars in millions) Quarters Ended March 31, 2018 2017 Net cash flows provided by operations $ 10.3 $ 119.7 Net cash flows provided by investing activities 42.2 123.7 The following condensed financial information reflects the Business Air business for the quarter ended March 31, 2018 and as of December 31, 2017 . Condensed Balance Sheet — Aerospace (dollars in millions) March 31, 2018 December 31, 2017 Net Loans $ 153.0 $ 165.8 Operating lease equipment, net 11.4 18.4 Other assets 0.1 — Assets of discontinued operations $ 164.5 $ 184.2 Other liabilities $ 20.1 $ 8.8 Liabilities of discontinued operations $ 20.1 $ 8.8 Condensed Statement of Income — Aerospace (dollars in millions) Quarters Ended March 31, 2018 2017 Interest income $ 2.1 $ 20.2 Interest expense 1.0 95.9 Rental income on operating leases 0.5 306.7 Other income (losses) (1.0 ) 13.4 Maintenance and other operating lease expenses — 4.2 Operating expenses 0.3 24.9 Loss on debt extinguishment (1) — 39.0 Income from discontinued operations before provision for income taxes 0.3 176.3 Provision for income taxes 0.1 78.1 Gain on sale of discontinued operations, net of taxes — 12.7 Income from discontinued operations, net of taxes $ 0.2 $ 110.9 (1) The Company repaid approximately $ 1 billion of secured borrowings in the first quarter of 2017 within discontinued operations and recorded a loss of $ 39 million in relation to the extinguishment of those borrowings. Condensed Statement of Cash Flows — Aerospace (dollars in millions) Quarters Ended March 31, 2018 2017 Net cash flows provided by operations $ 13.6 $ 128.1 Net cash flows provided by investing activities 20.1 98.7 Condensed Balance Sheet — Financial Freedom (dollars in millions) March 31, 2018 December 31, 2017 Total cash and deposits, all of which is restricted $ 9.8 $ 7.7 Net Loans (1) 253.7 272.8 Other assets (2) 35.1 36.6 Assets of discontinued operation $ 298.6 $ 317.1 Secured borrowings (1) $ 247.8 $ 268.2 Other liabilities (3) 228.7 232.3 Liabilities of discontinued operation $ 476.5 $ 500.5 (1) Net loans include $ 246.8 million and $ 267.2 million of securitized balances at March 31, 2018 and December 31, 2017 , respectively, and $ 6.9 million and $ 5.6 million of additional draws awaiting securitization respectively. Secured borrowings relate to those receivables. (2) Amount includes servicing advances, servicer receivables and property and equipment, net of accumulated depreciation. The loans serviced for others total $ 13.8 billion and $ 14.1 billion for reverse mortgage loans as of March 31, 2018 and December 31, 2017, respectively. (3) Other liabilities include $ 135.3 million and $ 137.8 million of contingent liabilities, $ 79.5 million of reverse mortgage servicing liabilities and $ 13.9 million and $ 15.0 million of other accrued liabilities at March 31, 2018 and December 31, 2017, respectively. The results from discontinued operations for the quarters ended March 31, 2018 and 2017 are presented below. Condensed Statement of Income — Financial Freedom (dollars in millions) Quarters Ended March 31, 2018 2017 Interest income (1) $ 2.1 $ 2.8 Interest expense (1) 2.1 2.5 Other income 6.7 7.3 Operating expenses (2) 16.1 22.7 Loss from discontinued operations before benefit for income taxes (9.4 ) (15.1 ) Benefit for income taxes (3) (2.5 ) (5.9 ) Loss from discontinued operation, net of taxes $ (6.9 ) $ (9.2 ) (1) Includes amortization for the premium associated with the HECM loans and related secured borrowings. (2) For the quarter ended March 31, 2018 and March 31, 2017, operating expense is comprised of approximately $ 4 million and $ 5 million in salaries and benefits, $ 1 million and $ 6 million in professional and legal services, and $ 11 million and $ 13 million for other expenses such as data processing, premises and equipment, and miscellaneous charges, respectively. (3) For the quarters ended March 31, 2018 and 2017, the Company's tax rate for discontinued operation was 27% and 39% , respectively. Condensed Statement of Cash Flows — Financial Freedom (dollars in millions) Quarters Ended March 31, 2018 2017 Net cash flows used for operation $ (3.3 ) $ (8.4 ) Net cash flows provided by investing activities 22.1 25.0

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule Of Loans By Product	Loans, excluding those reflected as discontinued operations, consist of the following: Loans by Product (dollars in millions) March 31, December 31, Commercial loans $ 21,163.9 $ 20,892.1 Direct financing leases and leveraged leases 2,625.2 2,685.8 Total commercial 23,789.1 23,577.9 Consumer loans 5,664.5 5,536.0 Total loans 29,453.6 29,113.9 Loans held for sale (1) 1,085.9 1,095.7 Loans and held for sale loans (1) $ 30,539.5 $ 30,209.6 (1) Loans held for sale includes loans primarily related to portfolios in Commercial Banking, Consumer Banking and the China portfolio in Non-Strategic Portfolios ("NSP"). As discussed in subsequent tables, since the Company manages the credit risk and collections of loans held for sale consistently with its loans held for investment, the aggregate amount is presented in this table.
Schedule Of Loans By Segment, Based On Obligor Location	The following table presents loans, excluding loans held for sale, by segment, based on obligor location: Loans (dollars in millions) March 31, 2018 December 31, 2017 Domestic Foreign Total Domestic Foreign Total Commercial Banking $ 21,693.8 $ 1,652.1 $ 23,345.9 $ 21,368.7 $ 1,790.6 $ 23,159.3 Consumer Banking (1) 6,107.7 — 6,107.7 5,954.6 — 5,954.6 Total $ 27,801.5 $ 1,652.1 $ 29,453.6 $ 27,323.3 $ 1,790.6 $ 29,113.9 (1) The Consumer Banking segment includes certain commercial loans, primarily consisting of a portfolio of Small Business Administration ("SBA") loans. These loans are excluded from the Consumer loan balance and included in the Commercial loan balances in the tables throughout this note.
Components Of Net Investment In Loans	The following table presents selected components of the net investment in loans: Components of Net Investment in Loans (dollars in millions) March 31, December 31, Unearned income $ (726.8 ) $ (727.8 ) Unamortized premiums / (discounts) 9.4 3.7 Accretable yield on Purchased Credit-Impaired (“PCI”) loans (1,016.3 ) (1,063.7 ) Net unamortized deferred costs and (fees) (1) 69.6 68.7 (1) Balance relates to the Commercial Banking segment.
Loans And Held-For-Sale Loans - By Risk Rating	The following table summarizes commercial loans by the risk ratings that bank regulatory agencies utilize to classify credit exposure and which are consistent with indicators the Company monitors. The consumer loan risk profiles are different from commercial loans, and use loan-to-value (“LTV”) ratios in rating the credit quality, and therefore are presented separately below. Commercial Loans and Held for Sale Loans — Risk Rating by Class / Segment (dollars in millions) Grade: Pass Special Mention Classified- accruing Classified- non-accrual PCI Loans Total March 31, 2018 Commercial Banking Commercial Finance $ 8,020.5 $ 641.1 $ 1,189.0 $ 153.2 $ 10.4 $ 10,014.2 Real Estate Finance 5,158.3 241.2 183.8 — 39.2 5,622.5 Business Capital 7,192.3 246.1 263.5 45.6 — 7,747.5 Rail 120.8 2.5 1.8 — — 125.1 Total Commercial Banking 20,491.9 1,130.9 1,638.1 198.8 49.6 23,509.3 Consumer Banking Other Consumer Banking (1) 398.9 4.2 37.9 — 2.2 443.2 Total Consumer Banking 398.9 4.2 37.9 — 2.2 443.2 Non- Strategic Portfolios 31.5 9.6 5.2 12.2 — 58.5 Total $ 20,922.3 $ 1,144.7 $ 1,681.2 $ 211.0 $ 51.8 $ 24,011.0 December 31, 2017 Commercial Banking Commercial Finance $ 8,284.1 $ 640.9 $ 981.9 $ 134.8 $ 10.6 $ 10,052.3 Real Estate Finance 5,228.1 139.9 174.3 2.8 45.1 5,590.2 Business Capital 7,028.6 269.2 228.8 53.2 — 7,579.8 Rail 100.6 2.0 1.2 — — 103.8 Total Commercial Banking 20,641.4 1,052.0 1,386.2 190.8 55.7 23,326.1 Consumer Banking Other Consumer Banking (1) 378.5 5.9 31.9 — 2.2 418.5 Total Consumer Banking 378.5 5.9 31.9 — 2.2 418.5 Non- Strategic Portfolios 35.7 7.6 10.2 9.8 — 63.3 Total $ 21,055.6 $ 1,065.5 $ 1,428.3 $ 200.6 $ 57.9 $ 23,807.9 (1) Other Consumer Banking loans consisted of SBA loans.
Schedule Of Consumer Loan LTV Distributions	The table below summarizes the consumer loan LTV distribution and the covered loan held for investment balances as of March 31, 2018 and December 31, 2017 for single family residential mortgage loans. Consumer Loan LTV Distribution (dollars in millions) Single Family Residential Covered Loans Non-covered Loans Total Consumer Loans LTV Range Non-PCI PCI Non-PCI PCI March 31, 2018 Greater than 125% $ 3.5 $ 145.7 $ 5.8 $ — $ 155.0 101% – 125% 6.0 260.4 4.8 — 271.2 80% – 100% 58.1 538.3 178.9 — 775.3 Less than 80% 1,254.5 895.0 2,304.9 7.8 4,462.2 Not Applicable (1) — — 0.8 — 0.8 Total $ 1,322.1 $ 1,839.4 $ 2,495.2 $ 7.8 $ 5,664.5 December 31, 2017 Greater than 125% $ 2.7 $ 160.0 $ 7.7 $ — $ 170.4 101% – 125% 6.4 291.5 4.4 — 302.3 80% – 100% 77.4 566.2 137.3 — 780.9 Less than 80% 1,306.1 878.1 2,089.7 7.7 4,281.6 Not Applicable (1) — — 0.8 — 0.8 Total $ 1,392.6 $ 1,895.8 $ 2,239.9 $ 7.7 $ 5,536.0 (1) Certain Consumer Loans do not have LTV's.
Loans And Held For Sale Loans - Delinquency Status	The table that follows presents portfolio delinquency status, regardless of accrual/non-accrual classification: Loans and Held for Sale Loans - Delinquency Status (dollars in millions) Past Due 30–59 Days Past Due 60–89 Days Past Due 90 Days or Greater Total Past Due Current (1) PCI Loans (2) Total March 31, 2018 Commercial Banking Commercial Finance $ 17.5 $ — $ 43.8 $ 61.3 $ 9,942.5 $ 10.4 $ 10,014.2 Real Estate Finance 10.4 2.9 4.1 17.4 5,565.9 39.2 5,622.5 Business Capital 135.8 24.3 18.0 178.1 7,569.4 — 7,747.5 Rail 6.5 0.9 0.8 8.2 116.9 — 125.1 Total Commercial Banking 170.2 28.1 66.7 265.0 23,194.7 49.6 23,509.3 Consumer Banking Legacy Consumer Mortgages 79.5 7.3 38.2 125.0 2,091.3 1,847.2 4,063.5 Other Consumer Banking 137.5 4.4 0.3 142.2 2,763.8 2.2 2,908.2 Total Consumer Banking 217.0 11.7 38.5 267.2 4,855.1 1,849.4 6,971.7 Non-Strategic Portfolios 0.7 — 12.2 12.9 45.6 — 58.5 Total $ 387.9 $ 39.8 $ 117.4 $ 545.1 $ 28,095.4 $ 1,899.0 $ 30,539.5 December 31, 2017 Commercial Banking Commercial Finance $ 4.5 $ — $ 49.3 $ 53.8 $ 9,987.9 $ 10.6 $ 10,052.3 Real Estate Finance 8.7 — 4.1 12.8 5,532.3 45.1 5,590.2 Business Capital 172.2 33.4 19.1 224.7 7,355.1 — 7,579.8 Rail 3.9 1.4 0.8 6.1 97.7 — 103.8 Total Commercial Banking 189.3 34.8 73.3 297.4 22,973.0 55.7 23,326.1 Consumer Banking Legacy Consumer Mortgages 26.7 7.6 34.8 69.1 2,219.5 1,903.5 4,192.1 Other Consumer Banking 9.6 0.5 0.4 10.5 2,615.4 2.2 2,628.1 Total Consumer Banking 36.3 8.1 35.2 79.6 4,834.9 1,905.7 6,820.2 Non-Strategic Portfolios 1.8 7.7 9.4 18.9 44.4 — 63.3 Total $ 227.4 $ 50.6 $ 117.9 $ 395.9 $ 27,852.3 $ 1,961.4 $ 30,209.6 (1) Due to their nature, reverse mortgage loans are included in Current, as they do not have contractual payments due at a specified time. During the current quarter, an immaterial error was discovered and corrected relating to the December 31, 2017 Current balance for Legacy Consumer Mortgage; which was understated by $ 861 million , and the Current balance for Other Consumer Banking, which was overstated by $ 861 million . The current presentation reflects the revised Current balances at December 31, 2017. (2) PCI loans are written down at acquisition to their fair value using an estimate of cash flows deemed to be collectible. Accordingly, such loans are no longer classified as past due or non-accrual even though they may be contractually past due as we expect to fully collect the new carrying values.
Loans On Non-accrual Status	The following table sets forth non-accrual loans, assets received in satisfaction of loans (OREO and repossessed assets) and loans 90 days or more past due and still accruing. Loans on Non-Accrual Status (dollars in millions) (1) March 31, 2018 December 31, 2017 Held for Investment Held for Sale Total Held for Investment Held for Sale Total Commercial Banking Commercial Finance $ 153.2 $ — $ 153.2 $ 134.8 $ — $ 134.8 Real Estate Finance — — — 2.8 — 2.8 Business Capital 45.6 — 45.6 53.2 — 53.2 Total Commercial Banking 198.8 — 198.8 190.8 — 190.8 Consumer Banking Legacy Consumer Mortgages 25.2 — 25.2 19.9 — 19.9 Other Consumer Banking 0.3 — 0.3 0.4 — 0.4 Total Consumer Banking 25.5 — 25.5 20.3 — 20.3 Non-Strategic Portfolios — 12.2 12.2 — 9.8 9.8 Total $ 224.3 $ 12.2 $ 236.5 $ 211.1 $ 9.8 $ 220.9 Repossessed assets and OREO 45.6 54.6 Total non-performing assets $ 282.1 $ 275.5 Commercial loans past due 90 days or more accruing $ 9.9 $ 11.7 Consumer loans past due 90 days or more accruing 17.1 20.2 Total Accruing loans past due 90 days or more $ 27.0 $ 31.9 (1) Factored receivables within our Business Capital division do not accrue interest and therefore are not considered within non-accrual loan balances; however factored receivables are considered for credit provisioning purposes.
Schedule Of Loans In Process Of Foreclosure	The table below summarizes the residential mortgage loans in the process of foreclosure and OREO: Loans in Process of Foreclosure and OREO (dollars in millions) (1) March 31, December 31, PCI $ 134.5 $ 133.7 Non-PCI 138.2 140.9 Loans in process of foreclosure $ 272.7 $ 274.6 OREO $ 43.1 $ 52.1 (1) As of March 31, 2018 and December 31, 2017, the table included $120.4 million and $ 122.5 million of reverse mortgage loans in the process of foreclosure and $17.2 million and $ 21.0 million of reverse mortgage OREO, respectively.
Impaired Loans	The following table contains information about impaired loans and the related allowance for loan losses by class. Impaired loans exclude PCI loans. Loans that were identified as impaired at the date of the OneWest Transaction (the “Acquisition 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 ), are not included in the following table but are disclosed further below in Loans Acquired with Deteriorated Credit Quality . Impaired Loans (dollars in millions) Average Recorded Investment (3) Recorded Investment Unpaid Principal Balance Related Allowance Quarter Ended March 31, 2018 Quarter Ended March 31, 2017 March 31, 2018 With no related allowance recorded: Commercial Banking Commercial Finance $ 90.6 $ 136.7 $ — $ 71.3 $ 59.4 Business Capital 10.9 13.0 — 11.3 4.9 Real Estate Finance — — — — 0.7 With an allowance recorded: Commercial Banking Commercial Finance 74.8 80.3 21.4 85.3 138.9 Business Capital 7.9 7.9 3.9 9.2 17.2 Real Estate Finance — — — 1.4 9.8 Total Impaired Loans (1) 184.2 237.9 25.3 178.5 230.9 Total Loans Impaired at Acquisition Date (2) 1,899.0 2,778.5 19.2 1,930.2 2,316.0 Total $ 2,083.2 $ 3,016.4 $ 44.5 $ 2,108.7 $ 2,546.9 December 31, 2017 With no related allowance recorded: Commercial Banking Commercial Finance $ 51.9 $ 72.7 $ — $ 59.9 Business Capital 11.7 13.4 — 5.7 Real Estate Finance — — — 0.4 With an allowance recorded: Commercial Banking Commercial Finance 95.9 96.1 21.3 136.6 Business Capital 10.5 10.5 4.3 14.2 Real Estate Finance 2.7 2.8 0.4 5.6 Total Impaired Loans (1) 172.7 195.5 26.0 222.4 Total Loans Impaired at Acquisition Date (2) 1,961.4 2,870.2 19.1 2,168.8 Total $ 2,134.1 $ 3,065.7 $ 45.1 $ 2,391.2 (1) Interest income recorded for the quarter ended March 31, 2018 while the loans were impaired was $0.3 million of which none was recognized using the cash-basis method of accounting. Interest income recorded for the year ended December 31, 2017 while the loans were impaired was $2.4 million , of which none was recognized using the cash-basis method of accounting. (2) Details of finance loans that were identified as impaired at the Acquisition Date are presented under Loans Acquired with Deteriorated Credit Quality. (3) Average recorded investment for the quarters ended March 31, 2018 , and March 31, 2017 and year ended December 31, 2017 .
Purchased Credit Impaired Loans With Deteriorated Credit Quality	Purchased Credit Impaired Loans (dollars in millions) March 31, 2018 Unpaid Principal Balance Carrying Value Allowance for Loan Losses Commercial Banking Commercial Finance $ 16.3 $ 10.4 $ 0.8 Real Estate Finance 49.4 39.2 7.0 Consumer Banking Other Consumer Banking 2.8 2.2 — Legacy Consumer Mortgages 2,710.0 1,847.2 11.4 $ 2,778.5 $ 1,899.0 $ 19.2 December 31, 2017 Commercial Banking Commercial Finance $ 16.4 $ 10.6 $ 0.7 Real Estate Finance 60.1 45.1 7.0 Consumer Banking Other Consumer Banking 3.0 2.2 — Legacy Consumer Mortgages 2,790.7 1,903.5 11.4 $ 2,870.2 $ 1,961.4 $ 19.1
Summary Of Commercial PCI Loans	The following table summarizes the carrying value of commercial PCI loans within Commercial Banking, which are monitored for credit quality based on internal risk classifications. See previous table Consumer Loan LTV Distribution for credit quality metrics on consumer PCI loans. March 31, 2018 December 31, 2017 (dollars in millions) Non- criticized Criticized Total Non- criticized Criticized Total Commercial Finance $ — $ 10.4 $ 10.4 $ — $ 10.6 $ 10.6 Real Estate Finance 20.4 18.8 39.2 21.8 23.3 45.1 Total $ 20.4 $ 29.2 $ 49.6 $ 21.8 $ 33.9 $ 55.7
Schedule Of Changes To The Accretable Yield For PCI Loans	Changes in the accretable yield for PCI loans are summarized below. Change in Accretable Yield (dollars in millions) Quarters Ended March 31, 2018 2017 Balance, beginning of period $ 1,063.7 $ 1,261.4 Accretion into interest income (44.0 ) (52.6 ) Reclassification from non-accretable difference 0.5 33.4 Disposals and Other (3.9 ) (8.5 ) Balance, end of period $ 1,016.3 $ 1,233.7

Allowance For Loan Losses (Tabl

Allowance For Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of Allowance for Loan Losses and Recorded Investment in Finance Receivables	Allowance for Loan Losses and Recorded Investment in Loans (dollars in millions) Commercial Consumer Total Commercial Banking Consumer Banking Total Quarter Ended March 31, 2018 Quarter Ended March 31, 2017 Balance - beginning of period $ 402.2 $ 28.9 $ 431.1 $ 408.4 $ 24.2 $ 432.6 Provision for credit losses 67.2 1.6 68.8 49.2 0.5 49.7 Other (1) (2.4 ) — (2.4 ) (6.2 ) — (6.2 ) Gross charge-offs (2) (54.6 ) (0.5 ) (55.1 ) (32.4 ) (0.6 ) (33.0 ) Recoveries 4.8 0.4 5.2 5.0 0.5 5.5 Balance - end of period $ 417.2 $ 30.4 $ 447.6 $ 424.0 $ 24.6 $ 448.6 Allowance balance at March 31, 2018 Allowance balance at March 31, 2017 Loans individually evaluated for impairment $ 25.3 $ — $ 25.3 $ 39.5 $ — $ 39.5 Loans collectively evaluated for impairment 384.1 19.0 403.1 376.8 17.5 394.3 Loans acquired with deteriorated credit quality (3) 7.8 11.4 19.2 7.7 7.1 14.8 Allowance for loan losses $ 417.2 $ 30.4 $ 447.6 $ 424.0 $ 24.6 $ 448.6 Other reserves (1) $ 46.9 $ — $ 46.9 $ 49.9 $ — $ 49.9 Loans at March 31, 2018 Loans at March 31, 2017 Loans individually evaluated for impairment $ 184.2 $ — $ 184.2 $ 240.1 $ — $ 240.1 Loans collectively evaluated for impairment 23,112.1 4,258.3 27,370.4 22,530.7 4,638.6 27,169.3 Loans acquired with deteriorated credit quality (3) 49.6 1,849.4 1,899.0 107.8 2,174.2 2,282.0 Ending balance $ 23,345.9 $ 6,107.7 $ 29,453.6 $ 22,878.6 $ 6,812.8 $ 29,691.4 Percent of loans to total loans 79.3 % 20.7 % 100 % 77.1 % 22.9 % 100 % (1) “Other reserves” represents 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 allowance for loan losses associated with loan sales and foreign currency translations. (2) Gross charge-offs of amounts specifically reserved in prior periods that were charged directly to the Allowance for loan losses included $2.6 million and $14.8 million for the quarters ended March 31, 2018 and 2017, respectively, and related to Commercial Banking for all periods. (3) Represents loans considered impaired as part of the OneWest transaction 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
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Schedule Of Investment Securities	Investment Securities (dollars in millions) March 31, December 31, Available-for-sale securities Debt securities $ 5,564.1 $ 6,123.6 Securities carried at fair value with changes recorded in net income Debt securities — 0.4 Equity securities (1) 44.1 44.7 Non-marketable investments (2) 302.3 301.2 Total investment securities $ 5,910.5 $ 6,469.9 (1) Upon the adoption of ASU 2016-01 - Financial Instruments as of January 1, 2018, these investments were reclassified from available for sale securities category. For details refer to Note 1 - Business and Summary of Significant Accounting Policies. (2) Non-marketable investments include restricted stock of the FRB and Federal Home Loan Bank ("FHLB") carried at cost of $258.8 million at March 31, 2018 , and $258.9 million at December 31, 2017 . The remaining non-marketable investments totaled $ 43.5 million as of March 31, 2018 and $42.3 million at December 31, 2017 . These investments include ownership interests greater than 3% in limited partnership investments including 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 investments. Investments under the equity method and other equity investments without readily determinable fair values measured under the measurement exception totaled $ 33.8 million and $ 9.7 million at March 31, 2018 and $ 31.6 million and $ 10.7 million at December 31, 2017 respectively.
Schedule Of Interest And Dividend Income	The following table presents interest and dividends on interest bearing deposits and investments: Interest and Dividend Income (dollars in millions) Quarters Ended March 31, 2018 2017 Interest income — debt securities $ 40.5 $ 27.8 Interest income — interest bearing deposits 7.0 12.5 Dividends — equity securities 2.8 3.3 Total interest and dividends $ 50.3 $ 43.6
Amortized Cost And Fair Value Of Securities Available-For-Sale	The following table presents amortized cost and fair value of securities available for sale (“AFS”). Amortized Cost and Fair Value (dollars in millions) March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt securities AFS Mortgage-backed securities U.S. government agency securities $ 4,865.4 $ 0.4 $ (139.4 ) $ 4,726.4 Non-agency securities 225.6 18.4 — 244.0 U.S. government agency obligations 25.0 — (0.4 ) 24.6 U.S. Treasury securities 443.7 — (4.4 ) 439.3 Supranational securities 49.9 — (0.7 ) 49.2 State & municipal bonds 13.6 — (0.3 ) 13.3 Corporate bonds - foreign 65.7 1.6 — 67.3 Total debt securities AFS $ 5,688.9 $ 20.4 $ (145.2 ) $ 5,564.1 December 31, 2017 Debt securities AFS Mortgage-backed securities U.S. government agency securities $ 5,010.2 $ 2.1 $ (62.1 ) $ 4,950.2 Non-agency securities 297.3 21.7 (0.5 ) 318.5 U.S. government agency obligations 25.0 — (0.2 ) 24.8 U.S. Treasury securities 297.7 0.2 (0.2 ) 297.7 Supranational securities 449.8 — (0.3 ) 449.5 State & municipal bonds 16.2 — (0.4 ) 15.8 Corporate bonds - foreign 65.7 1.4 — 67.1 Total debt securities AFS 6,161.9 25.4 (63.7 ) 6,123.6 Equity securities AFS 45.8 — (1.1 ) 44.7 Total securities AFS $ 6,207.7 $ 25.4 $ (64.8 ) $ 6,168.3
Amortized Cost And Fair Value Of Debt Securities By Contractual Maturity Dates	The following table presents the debt securities AFS by contractual maturity dates: Maturities - Debt Securities AFS (dollars in millions) March 31, 2018 Amortized Cost Fair Value Weighted Average Yield Mortgage-backed securities — U.S. government agency securities After 5 but within 10 years $ 172.3 $ 168.6 2.12 % Due after 10 years 4,693.1 4,557.8 2.56 % Total 4,865.4 4,726.4 2.54 % Mortgage-backed securities — non-agency securities After 1 but within 5 years 12.0 12.1 5.16 % After 5 but within 10 years 5.3 5.7 4.68 % Due after 10 years 208.3 226.2 5.83 % Total 225.6 244.0 5.76 % U.S. government agency obligations After 1 but within 5 years 25.0 24.6 2.26 % Total 25.0 24.6 2.26 % U.S. Treasury securities Due within 1 year 248.1 247.8 1.53 % After 5 but within 10 years 195.6 191.5 2.51 % Total 443.7 439.3 1.96 % Supranational securities After 1 but within 5 years 49.9 49.2 2.02 % Total 49.9 49.2 2.02 % State & municipal bonds Due within 1 year 0.1 0.1 2.36 % After 1 but within 5 years 0.1 0.1 2.56 % After 5 but within 10 years 0.3 0.3 2.70 % Due after 10 years 13.1 12.8 2.38 % Total 13.6 13.3 2.39 % Corporate bonds - foreign After 1 but within 5 years 65.7 67.3 6.11 % Total 65.7 67.3 6.11 % Total debt securities AFS $ 5,688.9 $ 5,564.1 2.66 %
Schedule Of Debt Securities AFS - Estimated Unrealized Losses	The following table summarizes by investment category the gross unrealized losses, respective fair value and length of time that those securities have been in a continuous unrealized loss position. Gross Unrealized Loss (dollars in millions) March 31, 2018 Less than 12 months 12 months or greater Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Debt securities AFS Mortgage-backed securities U.S. government agency securities $ 3,567.3 $ (82.3 ) $ 1,133.7 $ (57.1 ) U.S. government agency obligations 24.6 (0.4 ) — — U.S. Treasury securities 439.3 (4.4 ) — — State & municipal bonds 2.0 — 11.1 (0.3 ) Supranational securities 49.2 (0.7 ) — — Total debt securities AFS $ 4,082.4 $ (87.8 ) $ 1,144.8 $ (57.4 ) December 31, 2017 Less than 12 months 12 months or greater Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Debt securities AFS Mortgage-backed securities U.S. government agency securities $ 3,492.2 $ (30.9 ) $ 1,151.4 $ (31.2 ) Non-agency securities 2.1 — 0.4 (0.5 ) U.S. government agency obligations 24.8 (0.2 ) — — U.S. Treasury securities 199.1 (0.2 ) — — State & municipal bonds — — 13.6 (0.4 ) Supranational securities 349.5 (0.3 ) — — Total debt securities AFS 4,067.7 (31.6 ) 1,165.4 (32.1 ) Equity securities AFS 0.1 (0.2 ) 44.5 (0.9 ) Total securities available-for-sale $ 4,067.8 $ (31.8 ) $ 1,209.9 $ (33.0 )
Changes In Accretable Yield For Purchased Credit-Impaired Securities	Changes in the accretable yield for PCI securities are summarized below for the quarter ended March 31, 2018 and 2017: Changes in Accretable Yield (dollars in millions) Quarters Ended March 31, 2018 March 31, 2017 Balance, beginning of period $ 101.7 $ 165.0 Accretion into interest income (3.8 ) (6.5 ) Reclassifications from non-accretable difference due to improving cash flows 0.1 0.1 Reclassifications to non-accretable difference due to decreasing cash flows — (0.5 ) Disposals and other (22.3 ) — Balance, end of period $ 75.7 $ 158.1

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Long-Term Borrowings	The following table presents the principal amounts by maturity date. Senior Unsecured Notes (dollars in millions) Maturity Date Rate (%) Date of Issuance Par Value February 2019 5.500% February 2012 $ 383.0 February 2019 3.875% February 2014 1,000.0 May 2020 5.375% May 2012 435.6 March 2021 4.125% March 2018 500.0 August 2022 5.000% August 2012 1,150.0 August 2023 5.000% August 2013 750.0 March 2025 5.250% March 2018 500.0 Weighted average rate and total 4.771% $ 4,718.6 The following table presents the carrying value of outstanding borrowings. Borrowings (dollars in millions) March 31, 2018 December 31, 2017 CIT Group Inc. Subsidiaries Total Total Senior Unsecured $ 4,730.8 $ — $ 4,730.8 $ 3,737.5 Subordinated unsecured debt 395.9 — 395.9 — Secured borrowings: Structured financings — 1,416.1 1,416.1 1,541.4 FHLB advances — 3,894.5 3,894.5 3,695.5 Total Borrowings $ 5,126.7 $ 5,310.6 $ 10,437.3 $ 8,974.4
Schedule of FHLB Advances	The following table includes the total outstanding FHLB Advances, and respective pledged assets (1) . FHLB Advances with Pledged Assets (1) Summary (dollars in millions) March 31, 2018 December 31, 2017 FHLB Advances Pledged Assets (1) FHLB Advances Pledged Assets (1) Total $ 3,894.5 $ 6,338.6 $ 3,695.5 $ 6,154.1 (1) For purposes of this table the term "Pledged Assets" means the assets required under the collateral maintenance requirement in connection with FHLB advances at each of the dates.
Schedule Of Secured Borrowings And Pledged Assets Summary	Set forth in the following table are amounts primarily related to structured financings of and assets owned by consolidated VIEs. Creditors of these VIEs 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. Structured financings as of March 31, 2018 had a weighted average rate of 4.02% , with rates ranging from 0.59% to 5.5% . Structured Financings and Pledged Assets Summary (dollars in millions) March 31, 2018 December 31, 2017 Secured Borrowing Pledged Assets Secured Borrowing Pledged Assets Business Capital $ 695.5 $ 2,817.5 $ 768.8 $ 2,838.6 Rail (1) (2) 720.6 1,259.9 772.6 1,272.0 Total $ 1,416.1 $ 4,077.4 $ 1,541.4 $ 4,110.6 (1) At March 31, 2018 , the TRS Transactions related borrowings and pledged assets, respectively, of $485.0 million and $854.3 million were included in Rail. The TRS Transactions are described in Note 7 — Derivative Financial Instruments . (2) At March 31, 2018 , secured borrowings and pledged assets, respectively, of $211.5 million and $379.9 million were related to the pending sale of our European Rail business, NACCO, and will be transferred to the buyer upon sale of that business.
Assets and Liabilities in Unconsolidated VIEs	The table below presents potential losses that would be incurred under hypothetical circumstances, such that the value of its interests and any associated collateral declines to zero and assuming no recovery or offset from any economic hedges. The Company believes the possibility is remote under this hypothetical scenario; accordingly, this required disclosure is not an indication of expected loss. Unconsolidated VIEs Carrying Value (dollars in millions) March 31, 2018 December 31, 2017 Securities Partnership Investment Securities Partnership Investment Agency securities $ 4,726.4 $ — $ 4,950.2 $ — Non agency securities — Other servicer 244.0 — 318.8 — Tax credit equity investments — 207.0 — 198.8 Equity investments — 46.7 — 38.6 Total Assets $ 4,970.4 $ 253.7 $ 5,269.0 $ 237.4 Commitments to tax credit investments $ — $ 79.7 $ — $ 66.6 Total Liabilities $ — $ 79.7 $ — $ 66.6 Maximum loss exposure (1) $ 4,970.4 $ 253.7 $ 5,269.0 $ 237.4 (1) Maximum loss exposure to the unconsolidated VIEs excludes the liability for representations and warranties, corporate guarantees and also excludes servicing advances.

Derivative Financial Instrume30

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair and Notional Values of Derivative Financial Instruments	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) March 31, 2018 December 31, 2017 Qualifying Hedges Notional Amount Asset Fair Value Liability Fair Value Notional Amount Asset Fair Value Liability Fair Value Foreign currency forward contracts — net investment hedges $ 989.0 $ 23.9 $ (7.2 ) $ 977.3 $ 0.2 $ (18.7 ) Interest rate swap - fair value hedge (2) 250.0 0.6 — — — — Total Qualifying Hedges 1,239.0 24.5 (7.2 ) 977.3 0.2 (18.7 ) Non-Qualifying Hedges Interest rate swaps (2) 7,686.3 82.4 (65.6 ) 7,112.0 60.8 (38.6 ) Written options 2,722.4 — (2.2 ) 2,744.3 — (0.7 ) Purchased options 2,567.0 2.2 — 2,571.5 0.7 — Foreign currency forward contracts 1,505.3 9.5 (12.6 ) 1,375.5 6.9 (14.9 ) Total Return Swap (TRS) 189.6 — (16.2 ) 182.4 — (14.1 ) Equity Warrants 0.8 — — 0.8 — — Interest Rate Lock Commitments 14.6 0.1 — 7.7 0.1 — Forward Sale Commitments on Agency MBS 11.5 — (0.1 ) 8.0 — — Credit derivatives 306.3 — — 285.1 — — Total Non-qualifying Hedges 15,003.8 94.2 (96.7 ) 14,287.3 68.5 (68.3 ) Total Derivatives $ 16,242.8 $ 118.7 $ (103.9 ) $ 15,264.6 $ 68.7 $ (87.0 ) (1) Presented on a gross basis. (2) Fair value balances include accrued interest.
Offsetting Assets	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. Derivative transactions are documented under an International Swaps and Derivatives Association (“ISDA”) agreement. Offsetting of Derivative Assets and Liabilities (dollars in millions) (1) 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 (2) Cash Collateral Pledged / (Received) (2)(3) Net Amount March 31, 2018 Derivative assets $ 118.7 $ — $ 118.7 $ (24.8 ) $ (33.2 ) $ 60.7 Derivative liabilities (103.9 ) — (103.9 ) 24.8 1.9 (77.2 ) December 31, 2017 Derivative assets $ 68.7 $ — $ 68.7 $ (18.7 ) $ (8.4 ) $ 41.6 Derivative liabilities (87.0 ) — (87.0 ) 18.7 23.0 (45.3 ) (1) Due to a change in clearinghouse rules, the Company accounts for swap contracts cleared by the Chicago Mercantile Exchange (“CME”) as “settled-to-market” effective January 2017. As a result, variation margin payments are characterized as settlement of the derivative exposure and variation margin balances are netted against the corresponding derivative mark-to-market balances. The Company’s swap contracts cleared by LCH Clearnet (“LCH”) continue to be accounted for as “collateralized-to-market” and variation margin balances are characterized as collateral against derivative exposures. At March 31, 2018 , gross amounts of recognized assets and liabilities were lower by $9.5 million and $6.0 million , respectively. (2) 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 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 of one of the counterparties. (3) Collateral pledged or received is included in Other assets or Other liabilities, respectively.
Offsetting Liabilities	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. Derivative transactions are documented under an International Swaps and Derivatives Association (“ISDA”) agreement. Offsetting of Derivative Assets and Liabilities (dollars in millions) (1) 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 (2) Cash Collateral Pledged / (Received) (2)(3) Net Amount March 31, 2018 Derivative assets $ 118.7 $ — $ 118.7 $ (24.8 ) $ (33.2 ) $ 60.7 Derivative liabilities (103.9 ) — (103.9 ) 24.8 1.9 (77.2 ) December 31, 2017 Derivative assets $ 68.7 $ — $ 68.7 $ (18.7 ) $ (8.4 ) $ 41.6 Derivative liabilities (87.0 ) — (87.0 ) 18.7 23.0 (45.3 ) (1) Due to a change in clearinghouse rules, the Company accounts for swap contracts cleared by the Chicago Mercantile Exchange (“CME”) as “settled-to-market” effective January 2017. As a result, variation margin payments are characterized as settlement of the derivative exposure and variation margin balances are netted against the corresponding derivative mark-to-market balances. The Company’s swap contracts cleared by LCH Clearnet (“LCH”) continue to be accounted for as “collateralized-to-market” and variation margin balances are characterized as collateral against derivative exposures. At March 31, 2018 , gross amounts of recognized assets and liabilities were lower by $9.5 million and $6.0 million , respectively. (2) 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 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 of one of the counterparties. (3) Collateral pledged or received is included in Other assets or Other liabilities, respectively.
Fair Value Hedges	Derivative Instruments March 31, 2018 Amounts Recognized Derivative Hedged Item Hedge Ineffectiveness Hedges of interest rate risk on borrowings using interest rate swaps Interest Expense $ 0.5 $ (0.5 ) $ —
Derivative Instrument Gains And Losses	The following table presents the impact of non-qualifying hedges on the statements of income Derivative Instrument Gains and Losses (dollars in millions) Quarters Ended March 31, Derivative Instruments Gain / (Loss) Recognized 2018 2017 Non Qualifying Hedges Interest rate swaps Other income $ 4.0 $ 2.2 Interest rate options Other income 0.1 0.1 Foreign currency forward contracts Other income (29.9 ) (7.0 ) Equity warrants Other income — (0.1 ) Total Return Swap (TRS) Other income (2.1 ) (0.9 ) Interest Rate Lock Commitments Other income — 0.1 Forward Sale Commitments on Agency MBS Other income 0.2 (0.1 ) Credit Derivatives Other income (0.2 ) — Total Non-qualifying Hedges -income statement impact $ (27.9 ) $ (5.7 )
Changes In AOCI Relating To Derivatives	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 Total income statement impact Derivatives - effective portion recorded in OCI Total change in OCI for period Quarter Ended March 31, 2018 Foreign currency forward contracts — net investment hedges $ — $ — $ 7.2 $ 7.2 Total $ — $ — $ 7.2 $ 7.2 Quarter Ended March 31, 2017 Foreign currency forward contracts — net investment hedges $ 6.9 $ 6.9 $ (8.9 ) $ (15.8 ) Total $ 6.9 $ 6.9 $ (8.9 ) $ (15.8 ) TRS Transactions As of March 31, 2018 , CIT was party to a financing facility between a wholly-owned Dutch subsidiary of CIT and Goldman Sachs International (“GSI”), which was structured as a total return swap (“TRS”). Amounts available for advances (otherwise known as the unused portion) were accounted for as derivatives and recorded at the estimated fair value. The total facility capacity available under the Dutch TRS was $625 million at March 31, 2018 , and December 31, 2017 . The utilized portion reflects the borrowing. The aggregate “notional amounts” of the Dutch TRS of $189.6 million at March 31, 2018 , and $182.4 million at December 31, 2017 , represent the aggregate unused portions and constitute derivative financial instruments. These notional amounts were calculated as the maximum facility commitment amount, $625 million , under the Dutch TRS, less the actual adjusted qualifying borrowing base outstanding of $435.4 million at March 31, 2018 , and $442.6 million under the facility at December 31, 2017 . The notional amounts of the derivative 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 Dutch TRS, the aggregate adjusted qualifying borrowing base of the total return swap will increase and the notional amount of the derivative will decrease accordingly. Based on the Company’s valuation, a liability of $16.2 million and $14.1 million was recorded at March 31, 2018 , and December 31, 2017 , respectively. The increase in liability of $2.1 million was recognized as a reduction to Other Income for the quarter ended March 31, 2018 and an increase in liability of $0.9 million was recognized as a reduction to Other Income for the quarter ended March 31, 2017 .

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table summarizes the Company’s assets and liabilities measured at estimated fair value on a recurring basis. Assets and Liabilities Measured at Fair Value on a Recurring Basis (dollars in millions) Total Level 1 Level 2 Level 3 March 31, 2018 Assets Debt securities AFS $ 5,564.1 $ 247.8 $ 5,005.0 $ 311.3 Securities carried at fair value with changes recorded in net income (1) 44.1 0.2 43.9 — Derivative assets at fair value — non-qualifying hedges (2) 94.2 — 94.1 0.1 Derivative assets at fair value — qualifying hedges (2) 24.5 — 24.5 — Total $ 5,726.9 $ 248.0 $ 5,167.5 $ 311.4 Liabilities Derivative liabilities at fair value — non-qualifying hedges (2) $ (96.7 ) $ — $ (80.5 ) $ (16.2 ) Derivative liabilities at fair value — qualifying hedges (2) (7.2 ) — (7.2 ) — Consideration holdback liability (46.0 ) — — (46.0 ) FDIC True-up liability (65.5 ) — — (65.5 ) Total $ (215.4 ) $ — $ (87.7 ) $ (127.7 ) December 31, 2017 Assets Debt securities AFS $ 6,123.6 $ 199.0 $ 5,538.8 $ 385.8 Securities carried at fair value with changes recorded in net income 0.4 — — 0.4 Equity securities AFS 44.7 0.2 44.5 — Derivative assets at fair value — non-qualifying hedges (2) 68.5 — 68.4 0.1 Derivative assets at fair value — qualifying hedges 0.2 — 0.2 — Total $ 6,237.4 $ 199.2 $ 5,651.9 $ 386.3 Liabilities Derivative liabilities at fair value — non-qualifying hedges (2) $ (68.3 ) $ — $ (54.2 ) $ (14.1 ) Derivative liabilities at fair value — qualifying hedges (18.7 ) — (18.7 ) — Consideration holdback liability (46.0 ) — — (46.0 ) FDIC True-up liability (65.1 ) — — (65.1 ) Total $ (198.1 ) $ — $ (72.9 ) $ (125.2 ) (1) Upon the adoption of ASU 2016-01 - Financial Instruments as of January 1, 2018, equity securities AFS were reclassified to securities carried at fair value with changes recorded in net income. See Note 1 - Business and Summary of Significant Accounting Policies. (2) Derivative fair values include accrued interest.
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques	The following tables summarize information about significant unobservable inputs related to the Company’s categories of Level 3 financial assets and liabilities measured on a recurring basis as of March 31, 2018 and December 31, 2017 . Quantitative Information about Level 3 Fair Value Measurements — Recurring (dollars in millions) Financial Instrument Estimated Fair Value Valuation Significant Range of Weighted March 31, 2018 Assets Securities — AFS $ 311.3 Discounted cash flow Discount Rate 0.0% - 11.6% 4.7% Prepayment Rate 3.8% - 26.7% 8.5% Default Rate 0.0% - 6.6% 3.9% Loss Severity 0.3% - 76.2% 35.5% Derivative assets — non qualifying 0.1 Internal valuation model Borrower Rate 3.5% - 4.9% 4.2% Total Assets $ 311.4 Liabilities FDIC True-up liability $ (65.5 ) Discounted cash flow Discount Rate 3.5% 3.5% Consideration holdback liability (46.0 ) Discounted cash flow Payment Probability 0% - 100% 48.0% Derivative liabilities — non-qualifying (16.2 ) Market Comparables (1) Total Liabilities $ (127.7 ) December 31, 2017 Assets Securities — AFS $ 385.8 Discounted cash flow Discount Rate 0.0% – 37.1% 4.6% Prepayment Rate 2.1% – 22.3% 8.8% Default Rate 0.0% – 7.3% 3.7% Loss Severity 0.3% – 72.4% 35.3% Securities carried at fair value with changes recorded in net income 0.4 Discounted cash flow Discount Rate 31.1% 31.1% Prepayment Rate 10.9% 10.9% Default Rate 2.4% 2.4% Loss Severity 59.2% 59.2% Derivative assets — non qualifying 0.1 Internal valuation model Borrower Rate 3.0% - 4.4% 3.8% Total Assets $ 386.3 Liabilities FDIC True-up liability $ (65.1 ) Discounted cash flow Discount Rate 2.9% 2.9% Consideration holdback liability (46.0 ) Discounted cash flow Payment Probability 0% – 100% 48.0% Derivative liabilities — non-qualifying (14.1 ) Market Comparables (1) Total Liabilities $ (125.2 ) (1) The valuation of these derivatives is primarily related to the GSI facilities and is based on several factors using a discounted cash flow methodology, including a) funding costs for similar financings based on current market conditions; b) forecasted usage of long-dated facilities through the final maturity date in 2028; and c) forecasted amortization, due to principal payments on the underlying ABS, which impacts the amount of the unutilized portion.
Changes in Estimated Fair Value for Financial Assets and Liabilities Measured on Recurring Basis	The following table summarizes the changes in estimated fair value for all assets and liabilities measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3): Changes in Estimated Fair Value of Level 3 Financial Assets and Liabilities Measured on a Recurring Basis (dollars in millions) Securities- AFS Securities Carried at Fair Value with Changes Recorded in Net Income Derivative Assets- Non- qualifying (1) Derivative Liabilities- Non- qualifying (2) FDIC True-up Liability Consideration Holdback Liability December 31, 2017 $ 385.8 $ 0.4 $ 0.1 $ (14.1 ) $ (65.1 ) $ (46.0 ) Included in earnings 3.5 — — (2.1 ) (0.4 ) — Included in comprehensive income (2.7 ) — — — — — Sales, paydowns, and adjustments (75.3 ) (0.4 ) — — — — Balance as of March 31, 2018 $ 311.3 $ — $ 0.1 $ (16.2 ) $ (65.5 ) $ (46.0 ) December 31, 2016 $ 485.5 $ 283.5 $ — $ (11.5 ) $ (61.9 ) $ (47.2 ) Included in earnings (1.7 ) 3.2 0.1 (0.8 ) (1.1 ) (0.2 ) Included in comprehensive income 6.9 — — — — — Impairment (0.1 ) — — — — — Sales, paydowns, and adjustments (20.1 ) (17.8 ) — — — — Balance as of March 31, 2017 $ 470.5 $ 268.9 $ 0.1 $ (12.3 ) $ (63.0 ) $ (47.4 ) (1) Valuation of Interest Rate Lock Commitments (2) Valuation of the derivatives related to the TRS Transactions and written options on certain CIT Bank CDs.
Carrying Value of Assets Measured at Fair Value on a Non-Recurring Basis	The following table presents assets measured at estimated fair value on a non-recurring basis for which a non-recurring change in fair value has been recorded in the current year: Carrying Value of Assets Measured at Fair Value on a Non-recurring Basis (dollars in millions) Fair Value Measurements at Reporting Date Using: Total Level 1 Level 2 Level 3 Total (Losses) March 31, 2018 Assets held for sale $ 153.6 $ — $ 2.5 $ 151.1 $ (0.4 ) Other real estate owned 13.2 — — 13.2 (0.5 ) Impaired loans (1) 37.6 — — 37.6 (35.3 ) Total $ 204.4 $ — $ 2.5 $ 201.9 $ (36.2 ) December 31, 2017 Assets held for sale 177.8 — — 177.8 (15.0 ) Other real estate owned 18.8 — — 18.8 (4.4 ) Impaired loans 89.1 — — 89.1 (21.9 ) Total $ 285.7 $ — $ — $ 285.7 $ (41.3 ) (1) In the current quarter there was a $ 22 million charge-off of a single Commercial Finance exposure.
Carrying and Estimated Fair Values of Financial Instruments	The carrying values 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 Value Level 1 Level 2 Level 3 Total March 31, 2018 Financial Assets Cash and interest bearing deposits $ 4,096.3 $ 4,096.3 $ — $ — $ 4,096.3 Derivative assets at fair value — non-qualifying hedges 94.2 — 94.1 0.1 94.2 Derivative assets at fair value — qualifying hedges 24.5 — 24.5 — 24.5 Assets held for sale (excluding leases) 980.2 — 3.6 1,011.5 1,015.1 Loans (excluding leases) 26,828.4 668.8 26,495.2 27,164.0 Securities purchased under agreement to resell 250.0 — 250.0 — 250.0 Investment securities (1) 5,910.5 248.0 5,048.9 613.6 5,910.5 Indemnification assets (2) 91.6 — — 72.2 72.2 Other assets subject to fair value disclosure and unsecured counterparty receivables (3) 476.2 — — 476.2 476.2 Financial Liabilities Deposits (4) (30,616.7 ) — — (30,638.8 ) (30,638.8 ) Derivative liabilities at fair value — non-qualifying hedges (96.7 ) — (80.5 ) (16.2 ) (96.7 ) Derivative liabilities at fair value — qualifying hedges (7.2 ) — (7.2 ) — (7.2 ) Borrowings (4) (10,480.9 ) — (9,711.9 ) (943.1 ) (10,655.0 ) Credit balances of factoring clients (1,549.0 ) — — (1,549.0 ) (1,549.0 ) Other liabilities subject to fair value disclosure (5) (613.7 ) — — (613.7 ) (613.7 ) December 31, 2017 Financial Assets Cash and interest bearing deposits $ 1,718.7 $ 1,718.7 $ — $ — $ 1,718.7 Derivative assets at fair value — non-qualifying hedges 68.5 — 68.4 0.1 68.5 Derivative assets at fair value — qualifying hedges 0.2 — 0.2 — 0.2 Assets held for sale (excluding leases) 1,011.4 — 4.7 1,044.8 1,049.5 Loans (excluding leases) 26,428.1 — 624.3 26,220.5 26,844.8 Securities purchased under agreement to resell 150.0 — 150.0 — 150.0 Investment securities (1) 6,469.9 199.2 5,583.3 687.4 6,469.9 Indemnification assets (2) 113.5 — — 87.4 87.4 Other assets subject to fair value disclosure and unsecured counterparty receivables (3) 542.2 — — 542.2 542.2 Financial Liabilities Deposits (4) (29,586.5 ) — — (29,668.6 ) (29,668.6 ) Derivative liabilities at fair value — non-qualifying hedges (68.3 ) — (54.2 ) (14.1 ) (68.3 ) Derivative liabilities at fair value — qualifying hedges (18.7 ) — (18.7 ) — (18.7 ) Borrowings (4) (9,043.8 ) — (8,281.7 ) (991.2 ) (9,272.9 ) Credit balances of factoring clients (1,468.6 ) — — (1,468.6 ) (1,468.6 ) Other liabilities subject to fair value disclosure (5) (725.2 ) — — (725.2 ) (725.2 ) (1) Level 3 estimated fair value at March 31, 2018 , includes debt securities AFS ( $311.3 million ), and non-marketable investments ( $302.3 million ). Level 3 estimated fair value at December 31, 2017 included debt securities AFS ( $385.8 million ), debt securities carried at fair value with changes recorded in net income ( $0.4 million ), and non-marketable investments ( $301.2 million ). (2) The indemnification assets included in the above table do not include Agency claims indemnification ( $28.9 million at both March 31, 2018 and December 31, 2017, respectively), as they are not considered financial instruments. (3) 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 their 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 TRS. (4) Deposits and borrowings include accrued interest, which is included in “Other liabilities” in the Balance Sheet. (5) 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.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Schedule of Common Stock Activity	A roll forward of common stock is presented in the following table. Number of Shares of Common Stock Issued Less Outstanding Common Stock – December 31, 2017 207,628,491 (76,275,567 ) 131,352,924 Restricted stock issued 1,188,303 — 1,188,303 Repurchase of common stock — (3,665,866 ) (3,665,866 ) Shares held to cover taxes on vesting restricted shares and other — (470,681 ) (470,681 ) Employee stock purchase plan participation 13,603 — 13,603 Common Stock – March 31, 2018 208,830,397 (80,412,114 ) 128,418,283
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table details the components of AOCI, net of tax: Components of Accumulated Other Comprehensive Loss (dollars in millions) March 31, 2018 December 31, 2017 Gross Unrealized Income Taxes Net Unrealized Gross Unrealized Income Taxes Net Unrealized Foreign currency translation adjustments $ 1.8 $ (8.9 ) $ (7.1 ) $ 0.8 $ (8.8 ) $ (8.0 ) Changes in benefit plan net gain (loss) and prior service (cost)/credit (49.1 ) (1.7 ) (50.8 ) (53.6 ) (0.9 ) (54.5 ) Unrealized net gains (losses) on securities AFS (124.9 ) 32.9 (92.0 ) (39.5 ) 15.5 (24.0 ) Total accumulated other comprehensive loss $ (172.2 ) $ 22.3 $ (149.9 ) $ (92.3 ) $ 5.8 $ (86.5 ) The following table details the changes in the components of AOCI, net of income taxes: Changes in Accumulated Other Comprehensive Income (Loss) by Component (dollars in millions) Foreign currency translation adjustments Changes in benefit plan net gain (loss) and prior service (cost) credit Unrealized net gains (losses) on available for sale securities Total AOCI Balance as of December 31, 2017 $ (8.0 ) $ (54.5 ) $ (24.0 ) $ (86.5 ) Adoption of ASUs 2016-01 and 2018-02 (1) 3.3 0.3 (4.1 ) (0.5 ) AOCI activity before reclassifications (2.4 ) 3.3 (60.1 ) (59.2 ) Amounts reclassified from AOCI — 0.1 (3.8 ) (3.7 ) Net current period AOCI (2.4 ) 3.4 (63.9 ) (62.9 ) Balance as of March 31, 2018 $ (7.1 ) $ (50.8 ) $ (92.0 ) $ (149.9 ) Balance as of December 31, 2016 $ (61.4 ) $ (65.3 ) $ (13.4 ) $ (140.1 ) AOCI activity before reclassifications 3.3 0.9 2.7 6.9 Amounts reclassified from AOCI 9.5 — — 9.5 Net current period AOCI 12.8 0.9 2.7 16.4 Balance as of March 31, 2017 $ (48.6 ) $ (64.4 ) $ (10.7 ) $ (123.7 ) (1) See Note 1 - Business and Summary of Significant Accounting Policies for information on these ASUs.
Reclassifications out of Accumulated Other Comprehensive Income	Reclassifications Out of AOCI (dollars in millions) Quarters Ended March 31, 2018 2017 Gross Amount Tax Net Amount Gross Amount Tax Net Amount Income Statement line item Foreign currency translation adjustments gains $ — $ — $ — $ 8.1 $ 1.4 $ 9.5 Other Income Changes in benefit plan net gain/(loss) and prior service (cost)/credit losses 0.1 — 0.1 — — — Operating Expenses Unrealized net gains (losses) on securities AFS (5.2 ) 1.4 (3.8 ) — — — Other Income Total Reclassifications out of AOCI $ (5.1 ) $ 1.4 $ (3.7 ) $ 8.1 $ 1.4 $ 9.5

Regulatory Capital (Tables)

Regulatory Capital (Tables)	3 Months Ended
	Mar. 31, 2018
Regulatory Capital Requirements [Abstract]
Tier 1 Capital And Total Capital Components	The following table summarizes the actual and minimum required capital ratios: Capital Components and Ratios (dollars in millions) CIT CIT Bank, N.A. March 31, December 31, March 31, December 31, Common Equity Tier 1 Capital $ 6,321.5 $ 6,479.8 $ 4,730.9 $ 4,751.6 Tier 1 Capital $ 6,637.7 $ 6,775.4 $ 4,730.9 $ 4,751.6 Total Capital $ 7,528.2 $ 7,251.0 $ 5,165.5 $ 5,183.3 Risk-Weighted Assets $ 44,777.8 $ 44,537.7 $ 34,742.2 $ 34,527.2 Capital Ratios: Common Equity Tier 1 Capital Ratio: Actual 14.1 % 14.5 % 13.6 % 13.8 % Effective minimum ratios under Basel III guidelines (1) 6.375 % 5.750 % 6.375 % 5.750 % Tier 1 Capital Ratio: Actual 14.8 % 15.2 % 13.6 % 13.8 % Effective minimum ratios under Basel III guidelines (1) 7.875 % 7.250 % 7.875 % 7.250 % Total Capital Ratio: Actual 16.8 % 16.3 % 14.9 % 15.0 % Effective minimum ratios under Basel III guidelines (1) 9.875 % 9.250 % 9.875 % 9.250 % Tier 1 Leverage Ratio: Actual 13.5 % 13.8 % 11.6 % 11.8 % Required minimum ratio for capital adequacy purposes 4.0 % 4.0 % 4.0 % 4.0 % (1) Required ratios under Basel III Final Rule in effect as of the reporting date including the partially phased-in capital conservation buffer .

Commitments (Tables)

Commitments (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Summary of Commitments	The accompanying table summarizes credit-related commitments and guarantees, as well as purchase and funding commitments: Commitments (dollars in millions) March 31, 2018 Due to Expire December 31, Within One Year After One Year Total Outstanding Total Outstanding Financing Commitments Financing assets (1) (2) $ 2,018.1 $ 4,689.7 $ 6,707.8 $ 6,351.1 Letters of credit Standby letters of credit 31.8 212.8 244.6 213.3 Other letters of credit 14.3 — 14.3 14.2 Guarantees Deferred purchase agreements 1,870.6 — 1,870.6 2,068.1 Guarantees, acceptances and other recourse obligations 2.1 — 2.1 2.1 Purchase and Funding Commitments Rail and other purchase commitments (1) 252.9 27.5 280.4 222.9 (1) In preparing the quarter-end financial statements as of March 31, 2018, the Company discovered and corrected an immaterial error impacting December 31, 2017 "Financing assets" and "Rail and other purchase commitments", which were understated by $113.4 million ( $86.6 million for financing assets and $26.8 million for purchase commitments). The current presentation has been revised to reflect the corrected balances at December 31, 2017. (2) The amount includes approximately $2.2 billion and $2.3 billion of undrawn financing commitments at March 31, 2018 and December 31, 2017 , respectively, for instances where the customer is not in compliance with contractual obligations or does not have adequate collateral to borrow against the unused facility, and therefore CIT does not have the contractual obligation to lend. In preparing the quarter-end financial statements as of March 31, 2018, the Company discovered and corrected an immaterial error relating to the December 31, 2017 balance of certain undrawn financing commitments where the customer was not in compliance with contractual obligations which was understated by $0.7 billion . The current presentation has been revised to reflect the corrected balance at December 31, 2017.

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Pre-Tax Income (Loss)	The following table presents segment data related to continuing operations. Refer to Note 25 — Business Segment Information in our Annual Report on Form 10-K for the year ended December 31, 2017 for further detailed information. Segment Pre-tax Income (Loss) (dollars in millions) Commercial Banking Consumer Banking Non-Strategic Portfolios Corporate and Other Total CIT Quarter Ended March 31, 2018 Interest income $ 314.9 $ 85.2 $ 2.4 $ 48.7 $ 451.2 Interest expense (benefit) 156.3 (24.3 ) 1.7 46.8 180.5 Provision for credit losses 67.2 1.6 — — 68.8 Rental income on operating leases 253.6 — — — 253.6 Other non-interest income 78.0 11.5 1.2 14.0 104.7 Depreciation on operating lease equipment 76.4 — — — 76.4 Maintenance and other operating lease expenses 57.4 — — — 57.4 Operating expenses / loss on debt extinguishment and deposit redemption 183.1 96.0 2.2 0.1 281.4 Income (loss) from continuing operations before provision (benefit) for income taxes $ 106.1 $ 23.4 $ (0.3 ) $ 15.8 $ 145.0 Select Period End Balances Loans $ 23,345.9 $ 6,107.7 $ — $ — $ 29,453.6 Credit balances of factoring clients 1,549.0 — — — 1,549.0 Assets held for sale 1,376.3 864.0 58.5 — 2,298.8 Operating lease equipment, net 6,774.9 — — — 6,774.9 Quarter Ended March 31, 2017 Interest income $ 307.5 $ 100.0 $ 7.0 $ 41.2 $ 455.7 Interest expense (benefit) 119.8 (6.5 ) 5.0 44.8 163.1 Provision for credit losses 49.2 0.5 — — 49.7 Rental income on operating leases 251.3 — — — 251.3 Other non-interest income 72.3 7.9 (2.9 ) 1.8 79.1 Depreciation on operating lease equipment 73.5 — — — 73.5 Maintenance and other operating lease expenses 53.8 — — — 53.8 Operating expenses / loss on debt extinguishment 178.7 95.6 2.0 35.3 311.6 Income (loss) from continuing operations before provision (benefit) for income taxes $ 156.1 $ 18.3 $ (2.9 ) $ (37.1 ) $ 134.4 Select Period End Balances Loans $ 22,878.6 $ 6,812.8 $ — $ — $ 29,691.4 Credit balances of factoring clients 1,547.1 — — — 1,547.1 Assets held for sale 336.4 64.1 162.1 — 562.6 Operating lease equipment, net 7,516.2 — — — 7,516.2

Business and Summary of Signi36

Business and Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018branch	Jan. 01, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Accounting Policies [Abstract]
Number of branches | branch	70
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASUs 2016-01 and 2018-02(1)			$ 0.2
Accumulated Other Comprehensive Loss
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASUs 2016-01 and 2018-02(1)			(0.5)
Accumulated Other Comprehensive Loss | Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASUs 2016-01 and 2018-02(1)		$ (1.1)
Accumulated Other Comprehensive Loss | Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASUs 2016-01 and 2018-02(1)		(1.6)
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASUs 2016-01 and 2018-02(1)			$ 0.7	$ (1)
Retained Earnings | Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASUs 2016-01 and 2018-02(1)		1.1
Retained Earnings | Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASUs 2016-01 and 2018-02(1)		0.2
Retained Earnings | Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASUs 2016-01 and 2018-02(1)		$ 1.6

Discontinued Operations (Schedu

Discontinued Operations (Schedule of Condensed Balance Sheet Aerospace Discontinued Operations) (Details) - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets of discontinued operations	[1]	$ 463.1	$ 501.3
Liabilities of discontinued operations	[1]	496.6	509.3
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Loans		406.7	438.6
Operating lease equipment, net		11.4	18.4
Other assets		35.2	36.6
Assets of discontinued operations		463.1	501.3
Other liabilities		248.8	241.1
Liabilities of discontinued operations		496.6	509.3
Aerospace | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Loans		153	165.8
Operating lease equipment, net		11.4	18.4
Other assets		0.1	0
Assets of discontinued operations		164.5	184.2
Other liabilities		20.1	8.8
Liabilities of discontinued operations		$ 20.1	$ 8.8
[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 Company’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 Company’s interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.Assets Cash and interest bearing deposits, restricted$80.5 $80.4Total loans, net of allowance for loan losses2.7 119.1Operating lease equipment, net771.8 763.3Total Assets$855.0 $962.8Liabilities Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)$484.6 $566.6Total Liabilities$484.6 $566.6

Discontinued Operations (Sche38

Discontinued Operations (Schedule of Condensed Statements of Income and Cash Flow of Aerospace Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of discontinued operations, net of taxes	$ 0	$ 12.7
Total income (loss) from discontinued operations, net of taxes	(6.7)	101.7
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest income	4.2	22.9
Interest expense	3.1	98.4
Rental income on operating leases	0.5	306.7
Other income (losses)	5.7	20.7
Maintenance and other operating lease expenses	0	4.2
Operating expenses	16.4	47.6
Loss on debt extinguishment	0	39
Income (loss) from discontinued operations before benefit (provision) for income taxes	(9.1)	161.1
(Benefit) provision for income taxes	2.4	(72.1)
Gain on sale of discontinued operations, net of taxes	0	12.7
Total income (loss) from discontinued operations, net of taxes	(6.7)	101.7
Net cash flows provided by operations	10.3	119.7
Net cash flows provided by investing activities	42.2	123.7
Aerospace | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest income	2.1	20.2
Interest expense	1	95.9
Rental income on operating leases	0.5	306.7
Other income (losses)	(1)	13.4
Maintenance and other operating lease expenses	0	4.2
Operating expenses	0.3	24.9
Loss on debt extinguishment	0	39
Income (loss) from discontinued operations before benefit (provision) for income taxes	0.3	176.3
(Benefit) provision for income taxes	(0.1)	(78.1)
Gain on sale of discontinued operations, net of taxes	0	12.7
Total income (loss) from discontinued operations, net of taxes	0.2	110.9
Repayment of debt		1,000
Net cash flows provided by operations	13.6	128.1
Net cash flows provided by investing activities	$ 20.1	$ 98.7

Discontinued Operations (Narrat

Discontinued Operations (Narrative) (Details) - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Portfolio of reverse mortgages	[1]	$ 29,006	$ 28,682.8
Reverse Mortgage | Operating Segments | Consumer Banking | One West Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Portfolio of reverse mortgages		861
Other real estate owned assets		17
Financial Freedom | Discontinued Operations | Residential Mortgage
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Indemnification receivable from the FDIC		$ 29	$ 29
[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 Company’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 Company’s interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.Assets Cash and interest bearing deposits, restricted$80.5 $80.4Total loans, net of allowance for loan losses2.7 119.1Operating lease equipment, net771.8 763.3Total Assets$855.0 $962.8Liabilities Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)$484.6 $566.6Total Liabilities$484.6 $566.6

Discontinued Operations (Sche40

Discontinued Operations (Schedule of Condensed Balance Sheet Financial Freedom Discontinued Operations) (Details) - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets of discontinued operations	[1]	$ 463.1	$ 501.3
Liabilities of discontinued operations	[1]	496.6	509.3
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total cash and deposits, all of which is restricted		9.8	7.7
Net Loans		406.7	438.6
Other assets		35.2	36.6
Assets of discontinued operations		463.1	501.3
Secured borrowings		247.8	268.2
Other liabilities		248.8	241.1
Liabilities of discontinued operations		496.6	509.3
Financial Freedom | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total cash and deposits, all of which is restricted		9.8	7.7
Net Loans		253.7	272.8
Other assets		35.1	36.6
Assets of discontinued operations		298.6	317.1
Secured borrowings		247.8	268.2
Other liabilities		228.7	232.3
Liabilities of discontinued operations		476.5	500.5
Securitized balance of net loans		246.8	267.2
Additional draws on awaiting securitization		6.9	5.6
Loans serviced for others		13,800	14,100
Financial Freedom | Discontinued Operations | Contingent Liabilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other liabilities		135.3	137.8
Financial Freedom | Discontinued Operations | Reversed Mortgage Servicing Liabilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other liabilities		79.5
Financial Freedom | Discontinued Operations | Other Accrued Liabilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other liabilities		$ 13.9	$ 15
[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 Company’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 Company’s interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.Assets Cash and interest bearing deposits, restricted$80.5 $80.4Total loans, net of allowance for loan losses2.7 119.1Operating lease equipment, net771.8 763.3Total Assets$855.0 $962.8Liabilities Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)$484.6 $566.6Total Liabilities$484.6 $566.6

Discontinued Operations (Sche41

Discontinued Operations (Schedule of Condensed Statements of Income and Cash Flow of Financial Freedom Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total income (loss) from discontinued operations, net of taxes	$ (6.7)	$ 101.7
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest income	4.2	22.9
Interest expense	3.1	98.4
Other income (losses)	5.7	20.7
Operating expenses	16.4	47.6
Income (loss) from discontinued operations before benefit (provision) for income taxes	(9.1)	161.1
Benefit (provision) for income taxes	2.4	(72.1)
Total income (loss) from discontinued operations, net of taxes	(6.7)	101.7
Other expenses	0	4.2
Net cash flows provided by operations	10.3	119.7
Net cash flows provided by investing activities	42.2	123.7
Financial Freedom | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest income	2.1	2.8
Interest expense	2.1	2.5
Other income (losses)	6.7	7.3
Operating expenses	16.1	22.7
Income (loss) from discontinued operations before benefit (provision) for income taxes	(9.4)	(15.1)
Benefit (provision) for income taxes	(2.5)	(5.9)
Total income (loss) from discontinued operations, net of taxes	(6.9)	(9.2)
Salaries and benefit	4	5
Professional and legal services	1	6
Other expenses	$ 11	$ 13
Tax rate for discontinued operations	27.00%	39.00%
Net cash flows provided by operations	$ (3.3)	$ (8.4)
Net cash flows provided by investing activities	$ 22.1	$ 25

Discontinued Operations (Sche42

Discontinued Operations (Schedule of Condensed Combined Balance Sheet of Discontinued Operations) (Details) - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets of discontinued operations	[1]	$ 463.1	$ 501.3
Liabilities of discontinued operations	[1]	496.6	509.3
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total cash and deposits		9.8	7.7
Net Loans		406.7	438.6
Operating lease equipment, net		11.4	18.4
Other assets		35.2	36.6
Assets of discontinued operations		463.1	501.3
Secured borrowings		247.8	268.2
Other liabilities		248.8	241.1
Liabilities of discontinued operations		$ 496.6	$ 509.3
[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 Company’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 Company’s interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.Assets Cash and interest bearing deposits, restricted$80.5 $80.4Total loans, net of allowance for loan losses2.7 119.1Operating lease equipment, net771.8 763.3Total Assets$855.0 $962.8Liabilities Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)$484.6 $566.6Total Liabilities$484.6 $566.6

Discontinued Operations (Sche43

Discontinued Operations (Schedule of Condensed Combined Statements of Income and Cash Flow of Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of discontinued operations, net of taxes	$ 0	$ 12.7
Total income (loss) from discontinued operations, net of taxes	(6.7)	101.7
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest income	4.2	22.9
Interest expense	3.1	98.4
Rental income on operating leases	0.5	306.7
Other income (losses)	5.7	20.7
Maintenance and other operating lease expenses	0	4.2
Operating expenses	16.4	47.6
Loss on debt extinguishment	0	39
Income (loss) from discontinued operations before benefit (provision) for income taxes	(9.1)	161.1
(Benefit) provision for income taxes	(2.4)	72.1
Gain on sale of discontinued operations, net of taxes	0	12.7
Total income (loss) from discontinued operations, net of taxes	(6.7)	101.7
Net cash flows provided by operations	10.3	119.7
Net cash flows provided by investing activities	$ 42.2	$ 123.7

Loans (Schedule of Loans by Pro

Loans (Schedule of Loans by Product) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Loans and Leases Receivable Disclosure [Line Items]
Total loans	$ 29,453.6	$ 29,113.9	$ 29,691.4
Loans held for sale	1,085.9	1,095.7
Loans and held for sale loans	30,539.5	30,209.6
Commercial Banking
Loans and Leases Receivable Disclosure [Line Items]
Total loans	23,789.1	23,577.9
Loans and held for sale loans	24,011	23,807.9
Commercial Banking | Commercial loans
Loans and Leases Receivable Disclosure [Line Items]
Total loans	21,163.9	20,892.1
Commercial Banking | Direct financing leases and leveraged leases
Loans and Leases Receivable Disclosure [Line Items]
Total loans	2,625.2	2,685.8
Consumer Banking
Loans and Leases Receivable Disclosure [Line Items]
Total loans	$ 5,664.5	$ 5,536

Loans (Schedule of Loans by Seg

Loans (Schedule of Loans by Segment, Based on Obligor Location) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 29,453.6	$ 29,113.9	$ 29,691.4
Domestic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	27,801.5	27,323.3
Foreign
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,652.1	1,790.6
Commercial Banking
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	23,345.9	23,159.3	22,878.6
Commercial Banking | Domestic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	21,693.8	21,368.7
Commercial Banking | Foreign
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,652.1	1,790.6
Consumer Banking
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	6,107.7	5,954.6	$ 6,812.8
Consumer Banking | Domestic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	6,107.7	5,954.6
Consumer Banking | Foreign
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 0	$ 0

Loans (Components of Net Invest

Loans (Components of Net Investment in Loans) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Unearned income	$ (726.8)	$ (727.8)
Unamortized premiums / (discounts)	9.4	3.7
Accretable yield on Purchased Credit-Impaired (“PCI”) loans	(1,016.3)	(1,063.7)
Net unamortized deferred costs and (fees)	$ 69.6	$ 68.7

Loans (Commercial Loans and Hel

Loans (Commercial Loans and Held-For-Sale Loans - By Risk Rating) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 30,539.5	$ 30,209.6
PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	1,899	1,961.4
Commercial Banking
Financing Receivable, Recorded Investment [Line Items]
Loans	24,011	23,807.9
Commercial Banking | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	51.8	57.9
Commercial Banking | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	20,922.3	21,055.6
Commercial Banking | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	1,144.7	1,065.5
Commercial Banking | Classified- accruing
Financing Receivable, Recorded Investment [Line Items]
Loans	1,681.2	1,428.3
Commercial Banking | Classified- non-accrual
Financing Receivable, Recorded Investment [Line Items]
Loans	211	200.6
Commercial Banking
Financing Receivable, Recorded Investment [Line Items]
Loans	23,509.3	23,326.1
Commercial Banking | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	49.6	55.7
Commercial Banking | Commercial Finance
Financing Receivable, Recorded Investment [Line Items]
Loans	10,014.2	10,052.3
Commercial Banking | Commercial Finance | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	10.4	10.6
Commercial Banking | Real Estate Finance
Financing Receivable, Recorded Investment [Line Items]
Loans	5,622.5	5,590.2
Commercial Banking | Real Estate Finance | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	39.2	45.1
Commercial Banking | Business Capital
Financing Receivable, Recorded Investment [Line Items]
Loans	7,747.5	7,579.8
Commercial Banking | Business Capital | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Commercial Banking | Rail
Financing Receivable, Recorded Investment [Line Items]
Loans	125.1	103.8
Commercial Banking | Rail | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Commercial Banking | Commercial Banking
Financing Receivable, Recorded Investment [Line Items]
Loans	23,509.3	23,326.1
Commercial Banking | Commercial Banking | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	49.6	55.7
Commercial Banking | Commercial Banking | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	20,491.9	20,641.4
Commercial Banking | Commercial Banking | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	1,130.9	1,052
Commercial Banking | Commercial Banking | Classified- accruing
Financing Receivable, Recorded Investment [Line Items]
Loans	1,638.1	1,386.2
Commercial Banking | Commercial Banking | Classified- non-accrual
Financing Receivable, Recorded Investment [Line Items]
Loans	198.8	190.8
Commercial Banking | Commercial Banking | Commercial Finance
Financing Receivable, Recorded Investment [Line Items]
Loans	10,014.2	10,052.3
Commercial Banking | Commercial Banking | Commercial Finance | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	10.4	10.6
Commercial Banking | Commercial Banking | Commercial Finance | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	8,020.5	8,284.1
Commercial Banking | Commercial Banking | Commercial Finance | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	641.1	640.9
Commercial Banking | Commercial Banking | Commercial Finance | Classified- accruing
Financing Receivable, Recorded Investment [Line Items]
Loans	1,189	981.9
Commercial Banking | Commercial Banking | Commercial Finance | Classified- non-accrual
Financing Receivable, Recorded Investment [Line Items]
Loans	153.2	134.8
Commercial Banking | Commercial Banking | Real Estate Finance
Financing Receivable, Recorded Investment [Line Items]
Loans	5,622.5	5,590.2
Commercial Banking | Commercial Banking | Real Estate Finance | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	39.2	45.1
Commercial Banking | Commercial Banking | Real Estate Finance | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	5,158.3	5,228.1
Commercial Banking | Commercial Banking | Real Estate Finance | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	241.2	139.9
Commercial Banking | Commercial Banking | Real Estate Finance | Classified- accruing
Financing Receivable, Recorded Investment [Line Items]
Loans	183.8	174.3
Commercial Banking | Commercial Banking | Real Estate Finance | Classified- non-accrual
Financing Receivable, Recorded Investment [Line Items]
Loans	0	2.8
Commercial Banking | Commercial Banking | Business Capital
Financing Receivable, Recorded Investment [Line Items]
Loans	7,747.5	7,579.8
Commercial Banking | Commercial Banking | Business Capital | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Commercial Banking | Commercial Banking | Business Capital | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	7,192.3	7,028.6
Commercial Banking | Commercial Banking | Business Capital | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	246.1	269.2
Commercial Banking | Commercial Banking | Business Capital | Classified- accruing
Financing Receivable, Recorded Investment [Line Items]
Loans	263.5	228.8
Commercial Banking | Commercial Banking | Business Capital | Classified- non-accrual
Financing Receivable, Recorded Investment [Line Items]
Loans	45.6	53.2
Commercial Banking | Commercial Banking | Rail
Financing Receivable, Recorded Investment [Line Items]
Loans	125.1	103.8
Commercial Banking | Commercial Banking | Rail | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Commercial Banking | Commercial Banking | Rail | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	120.8	100.6
Commercial Banking | Commercial Banking | Rail | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	2.5	2
Commercial Banking | Commercial Banking | Rail | Classified- accruing
Financing Receivable, Recorded Investment [Line Items]
Loans	1.8	1.2
Commercial Banking | Commercial Banking | Rail | Classified- non-accrual
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Consumer Banking
Financing Receivable, Recorded Investment [Line Items]
Loans	6,971.7	6,820.2
Consumer Banking | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	1,849.4	1,905.7
Consumer Banking | Other Consumer Banking
Financing Receivable, Recorded Investment [Line Items]
Loans	2,908.2	2,628.1
Consumer Banking | Other Consumer Banking | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	2.2	2.2
Consumer Banking | Commercial Banking
Financing Receivable, Recorded Investment [Line Items]
Loans	443.2	418.5
Consumer Banking | Commercial Banking | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	2.2	2.2
Consumer Banking | Commercial Banking | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	398.9	378.5
Consumer Banking | Commercial Banking | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	4.2	5.9
Consumer Banking | Commercial Banking | Classified- accruing
Financing Receivable, Recorded Investment [Line Items]
Loans	37.9	31.9
Consumer Banking | Commercial Banking | Classified- non-accrual
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Consumer Banking | Commercial Banking | Other Consumer Banking
Financing Receivable, Recorded Investment [Line Items]
Loans	443.2	418.5
Consumer Banking | Commercial Banking | Other Consumer Banking | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	2.2	2.2
Consumer Banking | Commercial Banking | Other Consumer Banking | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	398.9	378.5
Consumer Banking | Commercial Banking | Other Consumer Banking | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	4.2	5.9
Consumer Banking | Commercial Banking | Other Consumer Banking | Classified- accruing
Financing Receivable, Recorded Investment [Line Items]
Loans	37.9	31.9
Consumer Banking | Commercial Banking | Other Consumer Banking | Classified- non-accrual
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Non-Strategic Portfolios | Commercial Banking
Financing Receivable, Recorded Investment [Line Items]
Loans	58.5	63.3
Non-Strategic Portfolios | Commercial Banking | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Non-Strategic Portfolios | Commercial Banking | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	31.5	35.7
Non-Strategic Portfolios | Commercial Banking | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	9.6	7.6
Non-Strategic Portfolios | Commercial Banking | Classified- accruing
Financing Receivable, Recorded Investment [Line Items]
Loans	5.2	10.2
Non-Strategic Portfolios | Commercial Banking | Classified- non-accrual
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 12.2	$ 9.8

Loans (Narrative) (Details)

Loans (Narrative) (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)loan	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loan threshold for individual review for impairment	$ 184,200,000	$ 240,100,000
Recorded investment of TDRs	$ 94,400,000		$ 103,500,000
Percentage of TDRs non-accrual	61.00%		63.00%
Troubled debt restructuring related to modifications	$ 36,500,000	34,100,000
Troubled debt restructurings that defaulted within one year	$ 1,600,000	$ 1,200,000
Troubled debt restructuring, payment deferral rate (percentage)	27.00%		31.00%
Troubled debt restructuring, covenant relief rate, other (percentage)	73.00%		69.00%
Repurchase of HECM loans			$ 136,300,000
HECM loans, balance amount	$ 143,700,000
Assets Held-For-Sale (AHFS)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase of HECM loans			177,600,000
Reverse Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount of reverse mortgages uninsured	$ 716,800,000		724,700,000
Number of loans in portfolio | loan	1,500
Unpaid principal balance	$ 929,400,000		944,000,000
Accruing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment of TDRs	7,700,000		12,300,000
Non-accruing Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment of TDRs	200,000		200,000
Reverse Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	860,500,000		861,000,000
Home Affordable Modification Program (HAMP)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in trial modification period			300,000
Proprietary Programs
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans in trial modification period	7,900,000		12,200,000
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loan threshold for individual review for impairment	$ 500,000
Days past due	90 days
Percent required of claim amount for loan service	98.00%
Minimum | Short-term Factoring Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired loan threshold for individual review for impairment	$ 500,000
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Days past due	150 days
Consumer Banking
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans with terms that permitted negative amortization, unpaid principal balance	$ 452,000,000		$ 484,000,000
Percentage of investments in TDR	19.00%		17.00%
Commitments to lend additional funds to borrowers whose loan terms have been modified in TDRs	$ 15,700,000		$ 13,400,000
Troubled debt restructurings, percentage of loans defaulted	26.00%
Commercial Banking
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of investments in TDR	81.00%		83.00%
Troubled debt restructurings, percentage of loans defaulted	74.00%
HECM Reverse Mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase of HECM loans	$ 23,900,000
HECM Reverse Mortgages | Assets Held-For-Sale (AHFS)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase of HECM loans	$ 189,300,000

Loans (Schedule of Consumer Loa

Loans (Schedule of Consumer Loan LTV Distributions) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 29,453.6	$ 29,113.9	$ 29,691.4
Consumer Banking
Financing Receivable, Recorded Investment [Line Items]
Loans	5,664.5	5,536
Single Family Residential
Financing Receivable, Recorded Investment [Line Items]
Loans	5,664.5	5,536
Single Family Residential | Greater than 125%
Financing Receivable, Recorded Investment [Line Items]
Loans	155	170.4
Single Family Residential | 101% – 125%
Financing Receivable, Recorded Investment [Line Items]
Loans	271.2	302.3
Single Family Residential | 80% – 100%
Financing Receivable, Recorded Investment [Line Items]
Loans	775.3	780.9
Single Family Residential | Less than 80%
Financing Receivable, Recorded Investment [Line Items]
Loans	4,462.2	4,281.6
Single Family Residential | Not Applicable
Financing Receivable, Recorded Investment [Line Items]
Loans	0.8	0.8
Single Family Residential | Covered Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	1,322.1	1,392.6
Single Family Residential | Covered Loans | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	1,839.4	1,895.8
Single Family Residential | Covered Loans | Greater than 125%
Financing Receivable, Recorded Investment [Line Items]
Loans	3.5	2.7
Single Family Residential | Covered Loans | Greater than 125% | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	145.7	160
Single Family Residential | Covered Loans | 101% – 125%
Financing Receivable, Recorded Investment [Line Items]
Loans	6	6.4
Single Family Residential | Covered Loans | 101% – 125% | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	260.4	291.5
Single Family Residential | Covered Loans | 80% – 100%
Financing Receivable, Recorded Investment [Line Items]
Loans	58.1	77.4
Single Family Residential | Covered Loans | 80% – 100% | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	538.3	566.2
Single Family Residential | Covered Loans | Less than 80%
Financing Receivable, Recorded Investment [Line Items]
Loans	1,254.5	1,306.1
Single Family Residential | Covered Loans | Less than 80% | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	895	878.1
Single Family Residential | Covered Loans | Not Applicable
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Single Family Residential | Covered Loans | Not Applicable | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Single Family Residential | Non-covered Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	2,495.2	2,239.9
Single Family Residential | Non-covered Loans | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	7.8	7.7
Single Family Residential | Non-covered Loans | Greater than 125%
Financing Receivable, Recorded Investment [Line Items]
Loans	5.8	7.7
Single Family Residential | Non-covered Loans | Greater than 125% | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Single Family Residential | Non-covered Loans | 101% – 125%
Financing Receivable, Recorded Investment [Line Items]
Loans	4.8	4.4
Single Family Residential | Non-covered Loans | 101% – 125% | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Single Family Residential | Non-covered Loans | 80% – 100%
Financing Receivable, Recorded Investment [Line Items]
Loans	178.9	137.3
Single Family Residential | Non-covered Loans | 80% – 100% | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Single Family Residential | Non-covered Loans | Less than 80%
Financing Receivable, Recorded Investment [Line Items]
Loans	2,304.9	2,089.7
Single Family Residential | Non-covered Loans | Less than 80% | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	7.8	7.7
Single Family Residential | Non-covered Loans | Not Applicable
Financing Receivable, Recorded Investment [Line Items]
Loans	0.8	0.8
Single Family Residential | Non-covered Loans | Not Applicable | PCI Loans
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 0	$ 0

Loans (Loans and Held For Sale

Loans (Loans and Held For Sale Loans - Delinquency Status) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 545.1	$ 395.9
Current	28,095.4	27,852.3
Total	30,539.5	30,209.6
30–59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	387.9	227.4
60–89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	39.8	50.6
90 Days or Greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	117.4	117.9
PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	1,899	1,961.4
Commercial Banking
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	265	297.4
Current	23,194.7	22,973
Total	23,509.3	23,326.1
Commercial Banking | 30–59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	170.2	189.3
Commercial Banking | 60–89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	28.1	34.8
Commercial Banking | 90 Days or Greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	66.7	73.3
Commercial Banking | PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	49.6	55.7
Commercial Banking | Commercial Finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	61.3	53.8
Current	9,942.5	9,987.9
Total	10,014.2	10,052.3
Commercial Banking | Commercial Finance | 30–59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	17.5	4.5
Commercial Banking | Commercial Finance | 60–89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial Banking | Commercial Finance | 90 Days or Greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	43.8	49.3
Commercial Banking | Commercial Finance | PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	10.4	10.6
Commercial Banking | Real Estate Finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	17.4	12.8
Current	5,565.9	5,532.3
Total	5,622.5	5,590.2
Commercial Banking | Real Estate Finance | 30–59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	10.4	8.7
Commercial Banking | Real Estate Finance | 60–89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2.9	0
Commercial Banking | Real Estate Finance | 90 Days or Greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	4.1	4.1
Commercial Banking | Real Estate Finance | PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	39.2	45.1
Commercial Banking | Business Capital
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	178.1	224.7
Current	7,569.4	7,355.1
Total	7,747.5	7,579.8
Commercial Banking | Business Capital | 30–59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	135.8	172.2
Commercial Banking | Business Capital | 60–89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	24.3	33.4
Commercial Banking | Business Capital | 90 Days or Greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	18	19.1
Commercial Banking | Business Capital | PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	0	0
Commercial Banking | Rail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	8.2	6.1
Current	116.9	97.7
Total	125.1	103.8
Commercial Banking | Rail | 30–59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6.5	3.9
Commercial Banking | Rail | 60–89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0.9	1.4
Commercial Banking | Rail | 90 Days or Greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0.8	0.8
Commercial Banking | Rail | PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	0	0
Consumer Banking
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	267.2	79.6
Current	4,855.1	4,834.9
Total	6,971.7	6,820.2
Consumer Banking | 30–59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	217	36.3
Consumer Banking | 60–89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	11.7	8.1
Consumer Banking | 90 Days or Greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	38.5	35.2
Consumer Banking | PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	1,849.4	1,905.7
Consumer Banking | Legacy Consumer Mortgages
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	125	69.1
Current	2,091.3	2,219.5
Total	4,063.5	4,192.1
Consumer Banking | Legacy Consumer Mortgages | Error Related to Classification of Current Balance of Consumer Banking Past Due Finance and Held for Sale Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current		861
Consumer Banking | Legacy Consumer Mortgages | 30–59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	79.5	26.7
Consumer Banking | Legacy Consumer Mortgages | 60–89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	7.3	7.6
Consumer Banking | Legacy Consumer Mortgages | 90 Days or Greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	38.2	34.8
Consumer Banking | Legacy Consumer Mortgages | PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	1,847.2	1,903.5
Consumer Banking | Other Consumer Banking
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	142.2	10.5
Current	2,763.8	2,615.4
Total	2,908.2	2,628.1
Consumer Banking | Other Consumer Banking | Error Related to Classification of Current Balance of Consumer Banking Past Due Finance and Held for Sale Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current		(861)
Consumer Banking | Other Consumer Banking | 30–59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	137.5	9.6
Consumer Banking | Other Consumer Banking | 60–89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	4.4	0.5
Consumer Banking | Other Consumer Banking | 90 Days or Greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0.3	0.4
Consumer Banking | Other Consumer Banking | PCI Loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	2.2	2.2
Non-Strategic Portfolios | Non- Strategic Portfolios
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	12.9	18.9
Current	45.6	44.4
Total	58.5	63.3
Non-Strategic Portfolios | Non- Strategic Portfolios | 30–59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0.7	1.8
Non-Strategic Portfolios | Non- Strategic Portfolios | 60–89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	7.7
Non-Strategic Portfolios | Non- Strategic Portfolios | 90 Days or Greater
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	12.2	9.4
Non-Strategic Portfolios | PCI Loans | Non- Strategic Portfolios
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 0	$ 0

Loans (Loans on Non-accrual Sta

Loans (Loans on Non-accrual Status) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	$ 236.5	$ 220.9
Repossessed assets and OREO	45.6	54.6
Total non-performing assets	282.1	275.5
Total Accruing loans past due 90 days or more	27	31.9
Non- Strategic Portfolios
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	12.2	9.8
Held for Investment
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	224.3	211.1
Held for Investment | Non- Strategic Portfolios
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0	0
Held for Sale
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	12.2	9.8
Held for Sale | Non- Strategic Portfolios
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	12.2	9.8
Commercial Banking
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	198.8	190.8
Total Accruing loans past due 90 days or more	9.9	11.7
Commercial Banking | Held for Investment
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	198.8	190.8
Commercial Banking | Held for Sale
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0	0
Consumer Banking
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	25.5	20.3
Total Accruing loans past due 90 days or more	17.1	20.2
Consumer Banking | Held for Investment
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	25.5	20.3
Consumer Banking | Held for Sale
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0	0
Commercial Finance | Commercial Banking
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	153.2	134.8
Commercial Finance | Commercial Banking | Held for Investment
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	153.2	134.8
Commercial Finance | Commercial Banking | Held for Sale
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0	0
Real Estate Finance | Commercial Banking
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0	2.8
Real Estate Finance | Commercial Banking | Held for Investment
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0	2.8
Real Estate Finance | Commercial Banking | Held for Sale
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0	0
Business Capital | Commercial Banking
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	45.6	53.2
Business Capital | Commercial Banking | Held for Investment
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	45.6	53.2
Business Capital | Commercial Banking | Held for Sale
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0	0
Legacy Consumer Mortgages | Consumer Banking
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	25.2	19.9
Legacy Consumer Mortgages | Consumer Banking | Held for Investment
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	25.2	19.9
Legacy Consumer Mortgages | Consumer Banking | Held for Sale
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0	0
Other Consumer Banking | Consumer Banking
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0.3	0.4
Other Consumer Banking | Consumer Banking | Held for Investment
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	0.3	0.4
Other Consumer Banking | Consumer Banking | Held for Sale
Finance Receivables Non Accrual Status By Type Of Holding [Line Items]
Total non-accrual loans	$ 0	$ 0

Loans (Schedule of Loans In Pro

Loans (Schedule of Loans In Process of Foreclosure and OREO) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Loans In Process Of Foreclosure [Line Items]
Loans in process of foreclosure	$ 272.7	$ 274.6
Reverse Mortgage
Loans In Process Of Foreclosure [Line Items]
Loans in process of foreclosure	120.4	122.5
Non-PCI
Loans In Process Of Foreclosure [Line Items]
Loans in process of foreclosure	138.2	140.9
OREO
Loans In Process Of Foreclosure [Line Items]
Loans in process of foreclosure	43.1	52.1
OREO | Reverse Mortgage
Loans In Process Of Foreclosure [Line Items]
Loans in process of foreclosure	17.2	21
PCI Loans
Loans In Process Of Foreclosure [Line Items]
Loans in process of foreclosure	$ 134.5	$ 133.7

Loans (Impaired Loans) (Details

Loans (Impaired Loans) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Financing Receivable, Impaired [Line Items]
Recorded investment, total	$ 2,083.2		$ 2,134.1
Unpaid principal balance, total	3,016.4		3,065.7
Related allowance	44.5		45.1
Average recorded investment, total	2,108.7	$ 2,546.9	2,391.2
PCI Loans
Financing Receivable, Impaired [Line Items]
Recorded investment, total	1,899		1,961.4
Unpaid principal balance, total	2,778.5		2,870.2
Related allowance	19.2		19.1
Average recorded investment, total	1,930.2	2,316	2,168.8
Impaired Loans
Financing Receivable, Impaired [Line Items]
Recorded investment, total	184.2		172.7
Unpaid principal balance, total	237.9		195.5
Related allowance	25.3		26
Average recorded investment, total	178.5	230.9	222.4
Interest income recorded	0.3	2.4
Interest income recognized using cash basis method	0	0
Commercial Finance | Commercial Banking
Financing Receivable, Impaired [Line Items]
With no related allowance, recorded investment	90.6		51.9
With related allowance, recorded investment	74.8		95.9
With no related allowance, unpaid principal balance	136.7		72.7
With related allowance, unpaid principal balance	80.3		96.1
Related allowance	21.4		21.3
With no related allowance, average recorded investment	71.3	59.4	59.9
With related allowance, average recorded investment	85.3	138.9	136.6
Commercial Finance | Commercial Banking | PCI Loans
Financing Receivable, Impaired [Line Items]
Recorded investment, total	10.4		10.6
Unpaid principal balance, total	16.3		16.4
Related allowance	0.8		0.7
Business Capital | Commercial Banking
Financing Receivable, Impaired [Line Items]
With no related allowance, recorded investment	10.9		11.7
With related allowance, recorded investment	7.9		10.5
With no related allowance, unpaid principal balance	13		13.4
With related allowance, unpaid principal balance	7.9		10.5
Related allowance	3.9		4.3
With no related allowance, average recorded investment	11.3	4.9	5.7
With related allowance, average recorded investment	9.2	17.2	14.2
Real Estate Finance | Commercial Banking
Financing Receivable, Impaired [Line Items]
With no related allowance, recorded investment	0		0
With related allowance, recorded investment	0		2.7
With no related allowance, unpaid principal balance	0		0
With related allowance, unpaid principal balance	0		2.8
Related allowance	0		0.4
With no related allowance, average recorded investment	0	0.7	0.4
With related allowance, average recorded investment	1.4	$ 9.8	5.6
Real Estate Finance | Commercial Banking | PCI Loans
Financing Receivable, Impaired [Line Items]
Recorded investment, total	39.2		45.1
Unpaid principal balance, total	49.4		60.1
Related allowance	$ 7		$ 7

Loans (Purchased Credit Impaire

Loans (Purchased Credit Impaired Loans) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	$ 3,016.4	$ 3,065.7
Carrying Value	2,083.2	2,134.1
Allowance for Loan Losses	44.5	45.1
Commercial Banking | Commercial Finance
Financing Receivable, Impaired [Line Items]
Allowance for Loan Losses	21.4	21.3
Commercial Banking | Real Estate Finance
Financing Receivable, Impaired [Line Items]
Allowance for Loan Losses	0	0.4
PCI Loans
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	2,778.5	2,870.2
Carrying Value	1,899	1,961.4
Allowance for Loan Losses	19.2	19.1
PCI Loans | Commercial Banking | Commercial Finance
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	16.3	16.4
Carrying Value	10.4	10.6
Allowance for Loan Losses	0.8	0.7
PCI Loans | Commercial Banking | Real Estate Finance
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	49.4	60.1
Carrying Value	39.2	45.1
Allowance for Loan Losses	7	7
PCI Loans | Consumer Banking | Other Consumer Banking
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	2.8	3
Carrying Value	2.2	2.2
Allowance for Loan Losses	0	0
PCI Loans | Consumer Banking | Legacy Consumer Mortgages
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	2,710	2,790.7
Carrying Value	1,847.2	1,903.5
Allowance for Loan Losses	$ 11.4	$ 11.4

Loans (Summary of Commercial PC

Loans (Summary of Commercial PCI Loans by Credit Quality) (Details) - Commercial Banking - PCI Loans - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 49.6	$ 55.7
Non- criticized
Financing Receivable, Recorded Investment [Line Items]
Loans	20.4	21.8
Criticized
Financing Receivable, Recorded Investment [Line Items]
Loans	29.2	33.9
Commercial Finance
Financing Receivable, Recorded Investment [Line Items]
Loans	10.4	10.6
Commercial Finance | Non- criticized
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Commercial Finance | Criticized
Financing Receivable, Recorded Investment [Line Items]
Loans	10.4	10.6
Real Estate Finance
Financing Receivable, Recorded Investment [Line Items]
Loans	39.2	45.1
Real Estate Finance | Non- criticized
Financing Receivable, Recorded Investment [Line Items]
Loans	20.4	21.8
Real Estate Finance | Criticized
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 18.8	$ 23.3

Loans (Schedule of Changes to t

Loans (Schedule of Changes to the Accretable Yield for PCI Loans) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Beginning Balance	$ 1,063.7	$ 1,261.4
Accretion into interest income	(44)	(52.6)
Reclassification from non-accretable difference	0.5	33.4
Disposals and Other	(3.9)	(8.5)
Ending Balance	$ 1,016.3	$ 1,233.7

Allowance For Loan Losses (Sche

Allowance For Loan Losses (Schedule of Allowance for Loan Losses and Recorded Investment in Finance Receivables) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	$ 431.1	$ 432.6
Provision for credit losses	68.8	49.7
Other	(2.4)	(6.2)
Gross charge-offs	(55.1)	(33)
Recoveries	5.2	5.5
Allowance balance - end of period	447.6	448.6
Allowance balance
Loans individually evaluated for impairment			$ 25.3	$ 39.5
Loans collectively evaluated for impairment			403.1	394.3
Allowance for loan losses	431.1	432.6	447.6	448.6
Other reserves			46.9	49.9
Loans
Loans individually evaluated for impairment			184.2	240.1
Loans collectively evaluated for impairment			$ 27,370.4	$ 27,169.3
Ending balance	29,453.6	29,691.4
Percentage of loans to total loans			100.00%	100.00%
PCI Loans | Onewest Bank
Allowance balance
Loans acquired with deteriorated credit quality	19.2	14.8
Loans
Loans acquired with deteriorated credit quality			$ 1,899	$ 2,282
Commercial Banking
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	402.2	408.4
Provision for credit losses	67.2	49.2
Other	(2.4)	(6.2)
Gross charge-offs	(54.6)	(32.4)
Recoveries	4.8	5
Allowance balance - end of period	417.2	424
Allowance balance
Loans individually evaluated for impairment			25.3	39.5
Loans collectively evaluated for impairment			384.1	376.8
Allowance for loan losses	402.2	408.4	417.2	424
Other reserves			46.9	49.9
Loans
Loans individually evaluated for impairment			184.2	240.1
Loans collectively evaluated for impairment			$ 23,112.1	$ 22,530.7
Ending balance	23,345.9	22,878.6
Percentage of loans to total loans			79.30%	77.10%
Gross charge-offs charged directly into allowance for loan losses	2.6	14.8
Commercial Banking | PCI Loans | Onewest Bank
Allowance balance
Loans acquired with deteriorated credit quality	7.8	7.7
Loans
Loans acquired with deteriorated credit quality			$ 49.6	$ 107.8
Consumer Banking
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	28.9	24.2
Provision for credit losses	1.6	0.5
Other	0	0
Gross charge-offs	(0.5)	(0.6)
Recoveries	0.4	0.5
Allowance balance - end of period	30.4	24.6
Allowance balance
Loans individually evaluated for impairment			0	0
Loans collectively evaluated for impairment			19	17.5
Allowance for loan losses	28.9	24.2	30.4	24.6
Other reserves			0	0
Loans
Loans individually evaluated for impairment			0	0
Loans collectively evaluated for impairment			$ 4,258.3	$ 4,638.6
Ending balance	6,107.7	6,812.8
Percentage of loans to total loans			20.70%	22.90%
Consumer Banking | PCI Loans | Onewest Bank
Allowance balance
Loans acquired with deteriorated credit quality	$ 11.4	$ 7.1
Loans
Loans acquired with deteriorated credit quality			$ 1,849.4	$ 2,174.2

Investment Securities (Schedule

Investment Securities (Schedule of Investment Securities) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Available-for-sale securities		$ 6,168.3
Securities carried at fair value with changes recorded in net income	$ 44.1	0.4
Total investment securities	5,910.5	6,469.9
Debt securities
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Available-for-sale securities	5,564.1	6,123.6
Securities carried at fair value with changes recorded in net income	0	0.4
Equity securities
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Available-for-sale securities		44.7
Securities carried at fair value with changes recorded in net income	44.1	44.7
Non-marketable Investments
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Total investment securities	302.3	301.2
Restricted Stock of FRB and FHLB
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Total investment securities	258.8	258.9
Remaining Non-Marketable Equity Investments
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Total investment securities	$ 43.5	42.3
Remaining Non-Marketable Equity Investments | Minimum
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Percentage of non-marketable equity method ownership interests	3.00%
Equity Method Investments
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Total investment securities	$ 33.8	31.6
Other Equity Investments Measured Under the Measurement Exception
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Total investment securities	$ 9.7	$ 10.7

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018		Mar. 31, 2017	Dec. 31, 2017
Investment Holdings [Line Items]
Realized investment gains excluding losses from OTTI	$ 6.2		$ 1.6
Cash and interest bearing deposits	3,895.4	[1]	5,415.2	$ 1,440.1	[1]
Securities carried at fair value with changes recorded in net income, fair value	44.1			0.4
OTTI credit-related losses, PCI securities			$ 0.1
Equity securities
Investment Holdings [Line Items]
Equity securities carried at fair value with changes recorded in net income, amortized cost	46.1
Equity securities carried at fair value with changes recorded in net income, fair value	44.1
Equity securities carried at fair value with changes recorded in net income, unrealized losses	2
Securities carried at fair value with changes recorded in net income, fair value	44.1			44.7
Debt securities
Investment Holdings [Line Items]
Securities carried at fair value with changes recorded in net income, cost				0.4
Securities carried at fair value with changes recorded in net income, fair value	0			$ 0.4
Securities carried at fair value with changes recorded in net income, weighted average yield				41.80%
Onewest Bank | Mortgage-Backed Securities
Investment Holdings [Line Items]
Estimated fair value of purchased credit-impaired securities	238.4			$ 312.5
Par value of purchased credit-impaired securities	$ 302.9			$ 387.6
[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 Company’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 Company’s interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.Assets Cash and interest bearing deposits, restricted$80.5 $80.4Total loans, net of allowance for loan losses2.7 119.1Operating lease equipment, net771.8 763.3Total Assets$855.0 $962.8Liabilities Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)$484.6 $566.6Total Liabilities$484.6 $566.6

Investment Securities (Schedu60

Investment Securities (Schedule of Interest and Dividend Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net Investment Income [Line Items]
Dividends — equity securities	$ 2.8	$ 3.3
Total interest and dividends	50.3	43.6
Investments
Net Investment Income [Line Items]
Interest income	40.5	27.8
Interest-bearing Deposits
Net Investment Income [Line Items]
Interest income	$ 7	$ 12.5

Investment Securities (Amortize

Investment Securities (Amortized Cost and Fair Value of AFS and HTM Securities) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		$ 6,207.7
Gross Unrealized Gains		25.4
Gross Unrealized Losses		(64.8)
Fair Value		6,168.3
U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 4,865.4	5,010.2
Gross Unrealized Gains	0.4	2.1
Gross Unrealized Losses	(139.4)	(62.1)
Fair Value	4,726.4	4,950.2
Non-agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	225.6	297.3
Gross Unrealized Gains	18.4	21.7
Gross Unrealized Losses	0	(0.5)
Fair Value	244	318.5
U.S. government agency obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25	25
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(0.4)	(0.2)
Fair Value	24.6	24.8
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	443.7	297.7
Gross Unrealized Gains	0	0.2
Gross Unrealized Losses	(4.4)	(0.2)
Fair Value	439.3	297.7
Supranational securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	49.9	449.8
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(0.7)	(0.3)
Fair Value	49.2	449.5
State & municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	13.6	16.2
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(0.3)	(0.4)
Fair Value	13.3	15.8
Corporate bonds - foreign
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	65.7	65.7
Gross Unrealized Gains	1.6	1.4
Gross Unrealized Losses	0	0
Fair Value	67.3	67.1
Debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	5,688.9	6,161.9
Gross Unrealized Gains	20.4	25.4
Gross Unrealized Losses	(145.2)	(63.7)
Fair Value	$ 5,564.1	6,123.6
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		45.8
Gross Unrealized Gains		0
Gross Unrealized Losses		(1.1)
Fair Value		$ 44.7

Investment Securities (Schedu62

Investment Securities (Schedule of Amortized Cost and Fair Value Maturities with Changes Recorded in Net Income) (Details) $ in Millions	Mar. 31, 2018USD ($)
Schedule of Available-for-sale Securities [Line Items]
Total debt securities available-for-sale, Amortized Cost	$ 5,688.9
Total debt securities available-for-sale, Fair Value	$ 5,564.1
Weighted Average Yield	2.66%
U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
After 5 but within 10 years, Amortized Cost	$ 172.3
Due after 10 years, Amortized Cost	4,693.1
Total debt securities available-for-sale, Amortized Cost	4,865.4
After 5 but within 10 years, Fair Value	168.6
Due after 10 years, Fair Value	4,557.8
Total debt securities available-for-sale, Fair Value	$ 4,726.4
After 5 but within 10 years, Weighted Average Yield	2.12%
Due after 10 years, Weighted Average Yield	2.56%
Weighted Average Yield	2.54%
Non-agency securities
Schedule of Available-for-sale Securities [Line Items]
After 1 but within 5 years, Amortized Cost	$ 12
After 5 but within 10 years, Amortized Cost	5.3
Due after 10 years, Amortized Cost	208.3
Total debt securities available-for-sale, Amortized Cost	225.6
After 1 but within 5 years, Fair Value	12.1
After 5 but within 10 years, Fair Value	5.7
Due after 10 years, Fair Value	226.2
Total debt securities available-for-sale, Fair Value	$ 244
After 1 but within 5 years, Weighted Average Yield	5.16%
After 5 but within 10 years, Weighted Average Yield	4.68%
Due after 10 years, Weighted Average Yield	5.83%
Weighted Average Yield	5.76%
U.S. government agency obligations
Schedule of Available-for-sale Securities [Line Items]
After 1 but within 5 years, Amortized Cost	$ 25
Total debt securities available-for-sale, Amortized Cost	25
After 1 but within 5 years, Fair Value	24.6
Total debt securities available-for-sale, Fair Value	$ 24.6
After 1 but within 5 years, Weighted Average Yield	2.26%
Weighted Average Yield	2.26%
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Due within 1 year, Amortized Cost	$ 248.1
After 5 but within 10 years, Amortized Cost	195.6
Total debt securities available-for-sale, Amortized Cost	443.7
Due within 1 year, Fair Value	247.8
After 5 but within 10 years, Fair Value	191.5
Total debt securities available-for-sale, Fair Value	$ 439.3
Due within 1 year, Weighted Average Yield	1.53%
After 5 but within 10 years, Weighted Average Yield	2.51%
Weighted Average Yield	1.96%
Supranational securities
Schedule of Available-for-sale Securities [Line Items]
After 1 but within 5 years, Amortized Cost	$ 49.9
Total debt securities available-for-sale, Amortized Cost	49.9
After 1 but within 5 years, Fair Value	49.2
Total debt securities available-for-sale, Fair Value	$ 49.2
After 1 but within 5 years, Weighted Average Yield	2.02%
Weighted Average Yield	2.02%
State & municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Due within 1 year, Amortized Cost	$ 0.1
After 1 but within 5 years, Amortized Cost	0.1
After 5 but within 10 years, Amortized Cost	0.3
Due after 10 years, Amortized Cost	13.1
Total debt securities available-for-sale, Amortized Cost	13.6
Due within 1 year, Fair Value	0.1
After 1 but within 5 years, Fair Value	0.1
After 5 but within 10 years, Fair Value	0.3
Due after 10 years, Fair Value	12.8
Total debt securities available-for-sale, Fair Value	$ 13.3
Due within 1 year, Weighted Average Yield	2.36%
After 1 but within 5 years, Weighted Average Yield	2.56%
After 5 but within 10 years, Weighted Average Yield	2.70%
Due after 10 years, Weighted Average Yield	2.38%
Weighted Average Yield	2.39%
Corporate bonds - foreign
Schedule of Available-for-sale Securities [Line Items]
After 1 but within 5 years, Amortized Cost	$ 65.7
Total debt securities available-for-sale, Amortized Cost	65.7
After 1 but within 5 years, Fair Value	67.3
Total debt securities available-for-sale, Fair Value	$ 67.3
After 1 but within 5 years, Weighted Average Yield	6.11%
Weighted Average Yield	6.11%

Investment Securities (Schedu63

Investment Securities (Schedule of AFS and HTM - Estimated Unrealized Losses) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value		$ 4,067.8
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss		(31.8)
Total securities available-for-sale, 12 months or greater, Fair Value		1,209.9
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss		(33)
U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	$ 3,567.3	3,492.2
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	(82.3)	(30.9)
Total securities available-for-sale, 12 months or greater, Fair Value	1,133.7	1,151.4
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss	(57.1)	(31.2)
Non-agency securities
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value		2.1
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss		0
Total securities available-for-sale, 12 months or greater, Fair Value		0.4
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss		(0.5)
U.S. government agency obligations
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	24.6	24.8
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	(0.4)	(0.2)
Total securities available-for-sale, 12 months or greater, Fair Value	0	0
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss	0	0
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	439.3	199.1
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	(4.4)	(0.2)
Total securities available-for-sale, 12 months or greater, Fair Value	0	0
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss	0	0
State & municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	2	0
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	0	0
Total securities available-for-sale, 12 months or greater, Fair Value	11.1	13.6
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss	(0.3)	(0.4)
Supranational securities
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	49.2	349.5
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	(0.7)	(0.3)
Total securities available-for-sale, 12 months or greater, Fair Value	0	0
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss	0	0
Debt securities
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value	4,082.4	4,067.7
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss	(87.8)	(31.6)
Total securities available-for-sale, 12 months or greater, Fair Value	1,144.8	1,165.4
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss	$ (57.4)	(32.1)
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Total securities available-for-sale, Less than 12 months, Fair Value		0.1
Total securities available-for-sale, Less than 12 months, Gross Unrealized Loss		(0.2)
Total securities available-for-sale, 12 months or greater, Fair Value		44.5
Total securities available-for-sale, 12 months or greater, Gross Unrealized Loss		$ (0.9)

Investment Securities (Changes

Investment Securities (Changes in Accretable Yield for Purchased Credit-Impaired Securities) (Details) - Onewest Bank - Mortgage-Backed Securities - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Beginning Balance	$ 101.7	$ 165
Accretion into interest income	(3.8)	(6.5)
Reclassifications from non-accretable difference due to improving cash flows	0.1	0.1
Reclassifications to non-accretable difference due to decreasing cash flows	0	(0.5)
Disposals and other	(22.3)	0
Ending Balance	$ 75.7	$ 158.1

Borrowings (Schedule of Long-Te

Borrowings (Schedule of Long-Term Borrowings) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term borrowings	$ 10,437.3	$ 8,974.4
CIT Group Inc.
Debt Instrument [Line Items]
Long-term borrowings	5,126.7
Subsidiaries
Debt Instrument [Line Items]
Long-term borrowings	5,310.6
Senior Unsecured
Debt Instrument [Line Items]
Long-term borrowings	4,730.8	3,737.5
Senior Unsecured | CIT Group Inc.
Debt Instrument [Line Items]
Long-term borrowings	4,730.8
Senior Unsecured | Subsidiaries
Debt Instrument [Line Items]
Long-term borrowings	0
Subordinated unsecured debt
Debt Instrument [Line Items]
Long-term borrowings	395.9	0
Subordinated unsecured debt | CIT Group Inc.
Debt Instrument [Line Items]
Long-term borrowings	395.9
Subordinated unsecured debt | Subsidiaries
Debt Instrument [Line Items]
Long-term borrowings	0
Structured financings
Debt Instrument [Line Items]
Long-term borrowings	1,416.1	1,541.4
Structured financings | CIT Group Inc.
Debt Instrument [Line Items]
Long-term borrowings	0
Structured financings | Subsidiaries
Debt Instrument [Line Items]
Long-term borrowings	1,416.1
FHLB advances
Debt Instrument [Line Items]
Long-term borrowings	3,894.5	$ 3,695.5
FHLB advances | CIT Group Inc.
Debt Instrument [Line Items]
Long-term borrowings	0
FHLB advances | Subsidiaries
Debt Instrument [Line Items]
Long-term borrowings	$ 3,894.5

Borrowings (Narrative) (Details

Borrowings (Narrative) (Details)	Apr. 09, 2018USD ($)	Mar. 31, 2018USD ($)subsidiary	Dec. 31, 2017USD ($)	Apr. 04, 2017	Feb. 28, 2017USD ($)	Jan. 31, 2017USD ($)
Debt Instrument [Line Items]
Tier 1 Capital minimum ratio		7.875%	7.25%
Long-term borrowings		$ 10,437,300,000	$ 8,974,400,000
Senior unsecured notes, percent of purchase price to principal amount		101.00%
Pledged assets		$ 28,700,000,000
Collateral specifically identified and used to calculate available borrowings		12,900,000,000
Pledged assets, loans		11,500,000,000
Pledged assets, operating lease assets		1,200,000,000
Pledged assets, cash		100,000,000
Pledged assets, investments		100,000,000
FHLB advances, financing availability		5,300,000,000
FHLB advances, unused and available		1,400,000,000
Onewest Bank | Variable Interest Entities | HMBS Sensitizations
Debt Instrument [Line Items]
Secured borrowings		$ 136,500,000	140,300,000
Weighted Average
Debt Instrument [Line Items]
FHLB advances, weighted average percentage rate		2.04%
Minimum
Debt Instrument [Line Items]
Senior unsecured notes, percent of purchase price to principal amount		98.00%
Discontinued Operations
Debt Instrument [Line Items]
Secured borrowings		$ 247,800,000	268,200,000
Subsequent Event
Debt Instrument [Line Items]
Aggregate premium	$ 15,700,000
Senior Unsecured Note, 6.00% Maturing in 2036
Debt Instrument [Line Items]
Face amount		$ 51,000,000
Interest rate		6.00%
Carrying value		$ 39,600,000
Senior Unsecured
Debt Instrument [Line Items]
Long-term borrowings		4,730,800,000	3,737,500,000
Face amount		4,718,600,000
Senior Unsecured | 5.500% Senior Unsecured Notes Due February 2019
Debt Instrument [Line Items]
Face amount		$ 383,000,000
Interest rate		5.50%
Senior Unsecured | 5.500% Senior Unsecured Notes Due February 2019 | Subsequent Event
Debt Instrument [Line Items]
Debt repurchased	$ 383,000,000
Interest rate	5.50%
Senior Unsecured | 3.875% Senior Unsecured Notes Due February 2019
Debt Instrument [Line Items]
Face amount		$ 1,000,000,000
Interest rate		3.875%
Senior Unsecured | 3.875% Senior Unsecured Notes Due February 2019 | Subsequent Event
Debt Instrument [Line Items]
Debt repurchased	$ 500,000,000
Interest rate	3.875%
Carrying value	$ 1,000,000,000
Subordinated unsecured debt
Debt Instrument [Line Items]
Long-term borrowings		$ 395,900,000	0
Subordinated unsecured debt | 6.125% Subordinated Unsecured Notes Due March 2028
Debt Instrument [Line Items]
Face amount		$ 400,000,000
Interest rate		6.125%
Structured financings
Debt Instrument [Line Items]
Long-term borrowings		$ 1,416,100,000	1,541,400,000
Secured borrowings, weighted average percentage rate		4.02%
Structured financings | Maximum
Debt Instrument [Line Items]
Secured borrowings, weighted average percentage rate		5.50%
Structured financings | Minimum
Debt Instrument [Line Items]
Secured borrowings, weighted average percentage rate		0.59%
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, total commitment amount		$ 500,000,000			$ 500,000,000	$ 750,000,000
Tier 1 Capital minimum ratio				9.00%
Revolving credit facility, domestic operating subsidiary guarantors | subsidiary		4
Revolving credit facility, minimum guarantor asset coverage ratio		1.25
Long-term borrowings		$ 0	$ 0
Revolving credit facility, available draw amount		$ 448,000,000
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Revolving credit facility, minimum guarantor asset coverage ratio		1
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Revolving credit facility, minimum guarantor asset coverage ratio		1.5
Revolving Credit Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Revolving credit facility, applicable margin (percentage)		2.00%
Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Revolving credit facility, applicable margin (percentage)		1.00%
Letters of Credit
Debt Instrument [Line Items]
Revolving credit facility, available draw amount		$ 52,000,000
FHLB advances, utilized for issuance of letters of credit		$ 85,800,000

Borrowings (Schedule of Senior

Borrowings (Schedule of Senior Unsecured Notes) (Details) - Senior Unsecured	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
Par Value	$ 4,718,600,000
Weighted Average Rate (%)	4.771%
5.500% Senior Unsecured Notes Due February 2019
Debt Instrument [Line Items]
Rate (%)	5.50%
Par Value	$ 383,000,000
3.875% Senior Unsecured Notes Due February 2019
Debt Instrument [Line Items]
Rate (%)	3.875%
Par Value	$ 1,000,000,000
5.375% Senior Unsecured Notes Due May 2020
Debt Instrument [Line Items]
Rate (%)	5.375%
Par Value	$ 435,600,000
4.125% Senior Unsecured Notes Due March 2021
Debt Instrument [Line Items]
Rate (%)	4.125%
Par Value	$ 500,000,000
5.000% Senior Unsecured Notes Due August 2022
Debt Instrument [Line Items]
Rate (%)	5.00%
Par Value	$ 1,150,000,000
5.000% Senior Unsecured Notes Due August 2023
Debt Instrument [Line Items]
Rate (%)	5.00%
Par Value	$ 750,000,000
5.250% Senior Unsecured Notes Due March 2025
Debt Instrument [Line Items]
Rate (%)	5.25%
Par Value	$ 500,000,000

Borrowings (Schedule of FHLB Ad

Borrowings (Schedule of FHLB Advances with Pledged Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
FHLB Advances	$ 3,894.5	$ 3,695.5
Pledged Assets	$ 6,338.6	$ 6,154.1

Borrowings (Schedule of Structu

Borrowings (Schedule of Structured Financings and Pledged Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets Held-For-Sale (AHFS) | NACCO Subsidiaries
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured borrowings	$ 211.5
Pledged assets	379.9
Total Return Swap (TRS)
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	485
Pledged Assets	854.3
Commercial Banking
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	1,416.1	$ 1,541.4
Pledged Assets	4,077.4	4,110.6
Commercial Banking | Business Capital
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	695.5	768.8
Pledged Assets	2,817.5	2,838.6
Commercial Banking | Rail
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured Borrowing	720.6	772.6
Pledged Assets	$ 1,259.9	$ 1,272

Borrowings (Assets and Liabilit

Borrowings (Assets and Liabilities in Unconsolidated VIEs) (Details) - Unconsolidated Variable Interest Entities (VIEs) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Debt securities
Variable Interest Entity [Line Items]
Total Assets	$ 4,970.4	$ 5,269
Maximum loss exposure	4,970.4	5,269
Debt securities | Agency securities
Variable Interest Entity [Line Items]
Total Assets	4,726.4	4,950.2
Debt securities | Non agency securities — Other servicer
Variable Interest Entity [Line Items]
Total Assets	244	318.8
Equity securities
Variable Interest Entity [Line Items]
Total Assets	46.7	38.6
Equity securities | Tax credit equity investments
Variable Interest Entity [Line Items]
Total Assets	207	198.8
Partnership Investment
Variable Interest Entity [Line Items]
Total Assets	253.7	237.4
Total Liabilities	79.7	66.6
Maximum loss exposure	253.7	237.4
Partnership Investment | Commitments to tax credit investments
Variable Interest Entity [Line Items]
Total Liabilities	$ 79.7	$ 66.6

Derivative Financial Instrume71

Derivative Financial Instruments (Fair and Notional Values of Derivative Financial Instruments) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Notional Amount	$ 16,242.8	$ 15,264.6
Asset Fair Value	118.7	68.7
Liability Fair Value	(103.9)	(87)
Total Return Swap (TRS)
Derivatives, Fair Value [Line Items]
Notional Amount	189.6	182.4
Qualifying Hedges
Derivatives, Fair Value [Line Items]
Notional Amount	1,239	977.3
Asset Fair Value	24.5	0.2
Liability Fair Value	(7.2)	(18.7)
Qualifying Hedges | Net Investment Hedges | Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Notional Amount	989	977.3
Asset Fair Value	23.9	0.2
Liability Fair Value	(7.2)	(18.7)
Qualifying Hedges | Fair Value Hedges | Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	250	0
Asset Fair Value	0.6	0
Liability Fair Value	0	0
Non-Qualifying Hedges
Derivatives, Fair Value [Line Items]
Notional Amount	15,003.8	14,287.3
Asset Fair Value	94.2	68.5
Liability Fair Value	(96.7)	(68.3)
Non-Qualifying Hedges | Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Notional Amount	1,505.3	1,375.5
Asset Fair Value	9.5	6.9
Liability Fair Value	(12.6)	(14.9)
Non-Qualifying Hedges | Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	7,686.3	7,112
Asset Fair Value	82.4	60.8
Liability Fair Value	(65.6)	(38.6)
Non-Qualifying Hedges | Options | Written options
Derivatives, Fair Value [Line Items]
Notional Amount	2,722.4	2,744.3
Asset Fair Value	0	0
Liability Fair Value	(2.2)	(0.7)
Non-Qualifying Hedges | Options | Purchased options
Derivatives, Fair Value [Line Items]
Notional Amount	2,567	2,571.5
Asset Fair Value	2.2	0.7
Liability Fair Value	0	0
Non-Qualifying Hedges | Total Return Swap (TRS)
Derivatives, Fair Value [Line Items]
Notional Amount	189.6	182.4
Asset Fair Value	0	0
Liability Fair Value	(16.2)	(14.1)
Non-Qualifying Hedges | Equity Warrants
Derivatives, Fair Value [Line Items]
Notional Amount	0.8	0.8
Asset Fair Value	0	0
Liability Fair Value	0	0
Non-Qualifying Hedges | Interest Rate Lock Commitments
Derivatives, Fair Value [Line Items]
Notional Amount	14.6	7.7
Asset Fair Value	0.1	0.1
Liability Fair Value	0	0
Non-Qualifying Hedges | Forward Sale Commitments on Agency MBS
Derivatives, Fair Value [Line Items]
Notional Amount	11.5	8
Asset Fair Value	0	0
Liability Fair Value	(0.1)	0
Non-Qualifying Hedges | Credit derivatives
Derivatives, Fair Value [Line Items]
Notional Amount	306.3	285.1
Asset Fair Value	0	0
Liability Fair Value	$ 0	$ 0

Derivative Financial Instrume72

Derivative Financial Instruments (Offsetting of Derivative Assets and Liabilities) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amount of Recognized Assets, Derivative Assets	$ 118.7	$ 68.7
Gross Amount Offset in the Consolidated Balance Sheet, Derivative assets	0	0
Net Amount Presented in the Consolidated Balance Sheet, Derivative assets	118.7	68.7
Derivative Financial Instruments, Derivative assets	(24.8)	(18.7)
Cash Collateral Pledged/ (Received), Derivative assets	(33.2)	(8.4)
Net Amount	60.7	41.6
Variable margin balances	9.5
Gross Amount of Recognized Liabilities, Derivative liabilities	(103.9)	(87)
Gross Amount Offset in the Consolidated Balance Sheet, Derivative liabilities	0	0
Net Amount Presented in the Consolidated Balance Sheet, Derivative liabilities	(103.9)	(87)
Derivative Financial Instruments, Derivative liabilities	24.8	18.7
Cash Collateral Pledged/ (Received), Derivative liabilities	1.9	23
Net Amount	(77.2)	$ (45.3)
Variable margin balances	$ 6

Derivative Financial Instrume73

Derivative Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Derivative [Line Items]
Notional amount of derivative	$ 16,242.8		$ 15,264.6
Total Return Swap (TRS)
Derivative [Line Items]
Notional amount of derivative	189.6		182.4
Unutilized portion of facility accounted for as a derivative	625		625
Aggregate actual adjusted qualifying borrowing base outstanding	435.4		442.6
Liability recorded based on Company's valuation	16.2		14.1
Increase (decrease) in liability	$ 2.1	$ 0.9
4.125% Senior Unsecured Notes Due March 2021 | Senior Unsecured
Derivative [Line Items]
Debt instrument term	3 years
Interest rate	4.125%
Qualifying Hedges
Derivative [Line Items]
Notional amount of derivative	$ 1,239		977.3
Qualifying Hedges | Fair Value Hedges | Interest rate swaps
Derivative [Line Items]
Notional amount of derivative	$ 250		$ 0

Derivative Financial Instrume74

Derivative Financial Instruments Derivative Financial Instruments (Fair Value Hedges) (Details) - Fair Value Hedges - Qualifying Hedges - Interest rate swaps $ in Millions	Mar. 31, 2018USD ($)
Derivative [Line Items]
Derivative	$ 0.5
Hedged Item	(0.5)
Hedge Ineffectiveness	$ 0

Derivative Financial Instrume75

Derivative Financial Instruments (Derivative Instrument Gains and Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Total Return Swap (TRS)
Derivative Instruments, Gain (Loss) [Line Items]
Total Non-qualifying Hedges -income statement impact	$ (2.1)	$ (0.9)
Non-Qualifying Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Total Non-qualifying Hedges -income statement impact	(27.9)	(5.7)
Non-Qualifying Hedges | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Total Non-qualifying Hedges -income statement impact	4	2.2
Non-Qualifying Hedges | Interest rate options
Derivative Instruments, Gain (Loss) [Line Items]
Total Non-qualifying Hedges -income statement impact	0.1	0.1
Non-Qualifying Hedges | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total Non-qualifying Hedges -income statement impact	(29.9)	(7)
Non-Qualifying Hedges | Equity Warrants
Derivative Instruments, Gain (Loss) [Line Items]
Total Non-qualifying Hedges -income statement impact	0	(0.1)
Non-Qualifying Hedges | Total Return Swap (TRS)
Derivative Instruments, Gain (Loss) [Line Items]
Total Non-qualifying Hedges -income statement impact	(2.1)	(0.9)
Non-Qualifying Hedges | Interest Rate Lock Commitments
Derivative Instruments, Gain (Loss) [Line Items]
Total Non-qualifying Hedges -income statement impact	0	0.1
Non-Qualifying Hedges | Forward Sale Commitments on Agency MBS
Derivative Instruments, Gain (Loss) [Line Items]
Total Non-qualifying Hedges -income statement impact	0.2	(0.1)
Non-Qualifying Hedges | Credit derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Total Non-qualifying Hedges -income statement impact	$ (0.2)	$ 0

Derivative Financial Instrume76

Derivative Financial Instruments (Changes in AOCI Relating to Derivatives) (Details) - Qualifying Hedges - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives - effective portion reclassified from AOCI to income	$ 0	$ 6.9
Total income statement impact	0	6.9
Derivatives - effective portion recorded in OCI	7.2	(8.9)
Total change in OCI for period	7.2	(15.8)
Foreign currency forward contracts | Net Investment Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives - effective portion reclassified from AOCI to income	0	6.9
Total income statement impact	0	6.9
Derivatives - effective portion recorded in OCI	7.2	(8.9)
Total change in OCI for period	$ 7.2	$ (15.8)

Fair Value (Assets and Liabilit

Fair Value (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities AFS	$ 5,564.1
Securities carried at fair value with changes recorded in net income	44.1	$ 0.4
Consideration holdback liability	(46)
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities AFS	5,564.1	6,123.6
Securities carried at fair value with changes recorded in net income	44.1	0.4
Equity securities AFS		44.7
Total Assets	5,726.9	6,237.4
Consideration holdback liability	(46)	(46)
FDIC True-up liability	(65.5)	(65.1)
Total Liabilities	(215.4)	(198.1)
Recurring | Non-Qualifying Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets at fair value	94.2	68.5
Derivative liabilities at fair value	(96.7)	(68.3)
Recurring | Qualifying Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets at fair value	24.5	0.2
Derivative liabilities at fair value	(7.2)	(18.7)
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities AFS	247.8	199
Securities carried at fair value with changes recorded in net income	0.2	0
Equity securities AFS		0.2
Total Assets	248	199.2
Consideration holdback liability	0	0
FDIC True-up liability	0	0
Total Liabilities	0	0
Recurring | Level 1 | Non-Qualifying Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets at fair value	0	0
Derivative liabilities at fair value	0	0
Recurring | Level 1 | Qualifying Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets at fair value	0	0
Derivative liabilities at fair value	0	0
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities AFS	5,005	5,538.8
Securities carried at fair value with changes recorded in net income	43.9	0
Equity securities AFS		44.5
Total Assets	5,167.5	5,651.9
Consideration holdback liability	0	0
FDIC True-up liability	0	0
Total Liabilities	(87.7)	(72.9)
Recurring | Level 2 | Non-Qualifying Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets at fair value	94.1	68.4
Derivative liabilities at fair value	(80.5)	(54.2)
Recurring | Level 2 | Qualifying Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets at fair value	24.5	0.2
Derivative liabilities at fair value	(7.2)	(18.7)
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities AFS	311.3	385.8
Securities carried at fair value with changes recorded in net income	0	0.4
Equity securities AFS		0
Total Assets	311.4	386.3
Consideration holdback liability		(46)
FDIC True-up liability	(65.5)	(65.1)
Total Liabilities	(127.7)	(125.2)
Recurring | Level 3 | Non-Qualifying Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets at fair value	0.1	0.1
Derivative liabilities at fair value	(16.2)	(14.1)
Recurring | Level 3 | Qualifying Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets at fair value	0	0
Derivative liabilities at fair value	$ 0	$ 0

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)holdback		Dec. 31, 2017USD ($)		Mar. 31, 2017USD ($)
Fair Value Disclosure [Line Items]
Contingent liabilities	$ 46
Borrower rate, max effective period	90 days
Assets held for sale	$ 2,298.8	[1]	$ 2,263.1	[1]	$ 562.6
Fair value of loans, percentage	101.30%		101.60%
Unpaid principal balance	$ 3,016.4		$ 3,065.7
Impaired loans carrying amount	$ 158.9		$ 146.7
Carrying amount of impaired loans percentage of unpaid principal balance	66.80%		75.00%
Impaired loans unpaid principal balance with no specific allowance	$ 149.7		$ 86.1
Impaired loans carrying value with no specific allowance	101.5		63.6
Impaired Loans
Fair Value Disclosure [Line Items]
Unpaid principal balance	237.9		195.5
Level 2
Fair Value Disclosure [Line Items]
Assets held for sale	3.6
Unsecured borrowings	5,200		3,800
Face amount	4,400		4,300
Level 3
Fair Value Disclosure [Line Items]
Face amount	1,000		1,000
Estimated Fair Value
Fair Value Disclosure [Line Items]
Fair value of loans	27,164		26,844.8
Estimated Fair Value | Level 2
Fair Value Disclosure [Line Items]
Fair value of loans	668.8		624.3
Estimated Fair Value | Level 3
Fair Value Disclosure [Line Items]
Fair value of loans	$ 26,495.2		$ 26,220.5
Minimum | Other Real Estate Owned | Level 3
Fair Value Disclosure [Line Items]
Inputs used to estimate cost to sell	5.30%
Maximum | Other Real Estate Owned | Level 3
Fair Value Disclosure [Line Items]
Inputs used to estimate cost to sell	25.10%
Weighted Average | Other Real Estate Owned | Level 3
Fair Value Disclosure [Line Items]
Inputs used to estimate cost to sell	6.10%
Onewest Bank
Fair Value Disclosure [Line Items]
Probable amount of holdback to be paid	$ 62.4
Onewest Bank | Minimum
Fair Value Disclosure [Line Items]
Range of potential holdback to be paid	0
Onewest Bank | Maximum
Fair Value Disclosure [Line Items]
Range of potential holdback to be paid	$ 116
Onewest Bank | Consideration holdback liability
Fair Value Disclosure [Line Items]
Number of consideration holdback liabilities | holdback	4
Reduction in cash consideration due to trailing risks	$ 116
Onewest Bank | Consideration holdback liability | Minimum
Fair Value Disclosure [Line Items]
Holdback periods	1 year
Onewest Bank | Consideration holdback liability | Maximum
Fair Value Disclosure [Line Items]
Holdback periods	5 years
[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 Company’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 Company’s interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.Assets Cash and interest bearing deposits, restricted$80.5 $80.4Total loans, net of allowance for loan losses2.7 119.1Operating lease equipment, net771.8 763.3Total Assets$855.0 $962.8Liabilities Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)$484.6 $566.6Total Liabilities$484.6 $566.6

Fair Value (Quantitative Inform

Fair Value (Quantitative Information about Level 3 Fair Value Measurements-Recurring) (Details) - Level 3 - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value - assets	$ 311.4	$ 386.3
Estimated fair value liabilities	(127.7)	(125.2)
FDIC True-up liability
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value liabilities	$ (65.5)	$ (65.1)
Discount Rate	3.50%	2.90%
Consideration holdback liability
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value liabilities	$ (46)	$ (46)
Derivative liabilities — non-qualifying
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value liabilities	(16.2)	(14.1)
Securities — AFS
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value - assets	311.3	385.8
Securities carried at fair value with changes recorded in net income
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value - assets	0	$ 0.4
Discount Rate		31.10%
Prepayment Rate		10.90%
Default Rate		2.40%
Loss Severity		59.20%
Derivative assets — non qualifying
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Estimated fair value - assets	$ 0.1	$ 0.1
Minimum | Consideration holdback liability
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Payment Probability	0.00%	0.00%
Minimum | Securities — AFS
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	0.00%	0.00%
Prepayment Rate	3.80%	2.10%
Default Rate	0.00%	0.00%
Loss Severity	0.30%	0.30%
Minimum | Securities carried at fair value with changes recorded in net income
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	0.80%
Prepayment Rate	9.30%
Default Rate	2.70%
Loss Severity	14.30%
Minimum | Derivative assets — non qualifying
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Borrower Rate	3.50%	3.00%
Maximum | Consideration holdback liability
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Payment Probability	100.00%	100.00%
Maximum | Securities — AFS
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	11.60%	37.10%
Prepayment Rate	26.70%	22.30%
Default Rate	6.60%	7.30%
Loss Severity	76.20%	72.40%
Maximum | Securities carried at fair value with changes recorded in net income
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	45.10%
Prepayment Rate	19.40%
Default Rate	9.60%
Loss Severity	43.20%
Maximum | Derivative assets — non qualifying
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Borrower Rate	4.90%	4.40%
Weighted Average | FDIC True-up liability
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	3.50%	2.90%
Weighted Average | Consideration holdback liability
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate
Payment Probability	48.00%	48.00%
Weighted Average | Securities — AFS
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	4.70%	4.60%
Prepayment Rate	8.50%	8.80%
Default Rate	3.90%	3.70%
Loss Severity	35.50%	35.30%
Weighted Average | Securities carried at fair value with changes recorded in net income
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate		31.10%
Prepayment Rate		10.90%
Default Rate		2.40%
Loss Severity		59.20%
Weighted Average | Derivative assets — non qualifying
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Borrower Rate	4.20%	3.80%

Fair Value (Changes in Estimate

Fair Value (Changes in Estimated Fair Value for Financial Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative liabilities — non-qualifying
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ (14.1)	$ (11.5)
Included in earnings	(2.1)	(0.8)
Included in comprehensive income	0	0
Impairment		0
Sales, paydowns, and adjustments	0	0
Ending Balance	(16.2)	(12.3)
FDIC True-up liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(65.1)	(61.9)
Included in earnings	(0.4)	(1.1)
Included in comprehensive income	0	0
Impairment		0
Sales, paydowns, and adjustments	0	0
Ending Balance	(65.5)	(63)
Consideration holdback liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(46)	(47.2)
Included in earnings	0	(0.2)
Included in comprehensive income	0	0
Impairment		0
Sales, paydowns, and adjustments	0	0
Ending Balance	(46)	(47.4)
Securities — AFS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	385.8	485.5
Included in earnings	3.5	(1.7)
Included in comprehensive income	(2.7)	6.9
Impairment		(0.1)
Sales, paydowns, and adjustments	(75.3)	(20.1)
Ending Balance	311.3	470.5
Securities carried at fair value with changes recorded in net income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0.4	283.5
Included in earnings	0	3.2
Included in comprehensive income	0	0
Impairment		0
Sales, paydowns, and adjustments	(0.4)	(17.8)
Ending Balance	0	268.9
Derivative assets — non qualifying
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0.1	0
Included in earnings	0	0.1
Included in comprehensive income	0	0
Impairment		0
Sales, paydowns, and adjustments	0	0
Ending Balance	$ 0.1	$ 0.1

Fair Value (Carrying Value of A

Fair Value (Carrying Value of Assets Measured at Fair Value on a Non-Recurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	$ 980.2	$ 1,011.4
Carrying Value | Non-Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	153.6	177.8
Other real estate owned	13.2	18.8
Impaired loans	37.6	89.1
Total	204.4	285.7
Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	1,015.1	1,049.5
Estimated Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	0	0
Estimated Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	3.6	4.7
Estimated Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	1,011.5	1,044.8
Estimated Fair Value | Non-Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	0	0
Other real estate owned	0	0
Impaired loans	0	0
Total	0	0
Estimated Fair Value | Non-Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	2.5	0
Other real estate owned	0	0
Impaired loans	0	0
Total	2.5	0
Estimated Fair Value | Non-Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	151.1	177.8
Other real estate owned	13.2	18.8
Impaired loans	37.6	89.1
Total	201.9	285.7
Total (Losses) | Non-Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	(0.4)	(15)
Other real estate owned	(0.5)	(4.4)
Impaired loans	(35.3)	(21.9)
Total	(36.2)	$ (41.3)
Commercial Banking | Commercial Finance | Non-Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Charge-off of impaired loan	$ 22

Fair Value (Carrying and Estima

Fair Value (Carrying and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Millions	Mar. 31, 2018		Dec. 31, 2017		Mar. 31, 2017
Financial Assets
Cash and interest bearing deposits	$ 3,895.4	[1]	$ 1,440.1	[1]	$ 5,415.2
Financial Liabilities
Credit balances of factoring clients	(1,549)		(1,468.6)		$ (1,547.1)
Available-for-sale debt securities	5,564.1
Carrying Value
Financial Assets
Cash and interest bearing deposits	4,096.3		1,718.7
Assets held for sale (excluding leases)	980.2		1,011.4
Loans (excluding leases)	26,828.4		26,428.1
Securities purchased under agreement to resell	250		150
Investment securities	5,910.5		6,469.9
Indemnification assets	91.6		113.5
Other assets subject to fair value disclosure and unsecured counterparty receivables	476.2		542.2
Financial Liabilities
Deposits	(30,616.7)		(29,586.5)
Borrowings	(10,480.9)		(9,043.8)
Credit balances of factoring clients	(1,549)		(1,468.6)
Other liabilities subject to fair value disclosure	(613.7)		(725.2)
Carrying Value | Non-Qualifying Hedges
Financial Assets
Derivative assets at fair value	94.2		68.5
Financial Liabilities
Derivative liabilities at fair value	(96.7)		(68.3)
Carrying Value | Qualifying Hedges
Financial Assets
Derivative assets at fair value	24.5		0.2
Financial Liabilities
Derivative liabilities at fair value	(7.2)		(18.7)
Estimated Fair Value
Financial Assets
Cash and interest bearing deposits	4,096.3		1,718.7
Assets held for sale (excluding leases)	1,015.1		1,049.5
Loans (excluding leases)	27,164		26,844.8
Securities purchased under agreement to resell	250		150
Investment securities	5,910.5		6,469.9
Indemnification assets	72.2		87.4
Other assets subject to fair value disclosure and unsecured counterparty receivables	476.2		542.2
Financial Liabilities
Deposits	(30,638.8)		(29,668.6)
Borrowings	(10,655)		(9,272.9)
Credit balances of factoring clients	(1,549)		(1,468.6)
Other liabilities subject to fair value disclosure	(613.7)		(725.2)
Agency claimed indemnification assets	28.9		28.9
Estimated Fair Value | Non-Qualifying Hedges
Financial Assets
Derivative assets at fair value	94.2		68.5
Financial Liabilities
Derivative liabilities at fair value	(96.7)		(68.3)
Estimated Fair Value | Qualifying Hedges
Financial Assets
Derivative assets at fair value	24.5		0.2
Financial Liabilities
Derivative liabilities at fair value	(7.2)		(18.7)
Level 1 | Estimated Fair Value
Financial Assets
Cash and interest bearing deposits	4,096.3		1,718.7
Assets held for sale (excluding leases)	0		0
Loans (excluding leases)			0
Securities purchased under agreement to resell	0		0
Investment securities	248		199.2
Indemnification assets	0		0
Other assets subject to fair value disclosure and unsecured counterparty receivables	0		0
Financial Liabilities
Deposits	0		0
Borrowings	0		0
Credit balances of factoring clients	0		0
Other liabilities subject to fair value disclosure	0		0
Level 1 | Estimated Fair Value | Non-Qualifying Hedges
Financial Assets
Derivative assets at fair value	0		0
Financial Liabilities
Derivative liabilities at fair value	0		0
Level 1 | Estimated Fair Value | Qualifying Hedges
Financial Assets
Derivative assets at fair value	0		0
Financial Liabilities
Derivative liabilities at fair value	0		0
Level 2 | Estimated Fair Value
Financial Assets
Cash and interest bearing deposits	0		0
Assets held for sale (excluding leases)	3.6		4.7
Loans (excluding leases)	668.8		624.3
Securities purchased under agreement to resell	250		150
Investment securities	5,048.9		5,583.3
Indemnification assets	0		0
Other assets subject to fair value disclosure and unsecured counterparty receivables	0		0
Financial Liabilities
Deposits	0		0
Borrowings	(9,711.9)		(8,281.7)
Credit balances of factoring clients	0		0
Other liabilities subject to fair value disclosure	0		0
Level 2 | Estimated Fair Value | Non-Qualifying Hedges
Financial Assets
Derivative assets at fair value	94.1		68.4
Financial Liabilities
Derivative liabilities at fair value	(80.5)		(54.2)
Level 2 | Estimated Fair Value | Qualifying Hedges
Financial Assets
Derivative assets at fair value	24.5		0.2
Financial Liabilities
Derivative liabilities at fair value	(7.2)		(18.7)
Level 3 | Estimated Fair Value
Financial Assets
Cash and interest bearing deposits	0		0
Assets held for sale (excluding leases)	1,011.5		1,044.8
Loans (excluding leases)	26,495.2		26,220.5
Securities purchased under agreement to resell	0		0
Investment securities	613.6		687.4
Indemnification assets	72.2		87.4
Other assets subject to fair value disclosure and unsecured counterparty receivables	476.2		542.2
Financial Liabilities
Deposits	(30,638.8)		(29,668.6)
Borrowings	(943.1)		(991.2)
Credit balances of factoring clients	(1,549)		(1,468.6)
Other liabilities subject to fair value disclosure	(613.7)		(725.2)
Available-for-sale debt securities	311.3		385.8
Debt securities carried at fair value with changes recorded in net income			0.4
Non-marketable securities	302.3		301.2
Level 3 | Estimated Fair Value | Non-Qualifying Hedges
Financial Assets
Derivative assets at fair value	0.1		0.1
Financial Liabilities
Derivative liabilities at fair value	(16.2)		(14.1)
Level 3 | Estimated Fair Value | Qualifying Hedges
Financial Assets
Derivative assets at fair value	0		0
Financial Liabilities
Derivative liabilities at fair value	$ 0		$ 0
[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 Company’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 Company’s interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.Assets Cash and interest bearing deposits, restricted$80.5 $80.4Total loans, net of allowance for loan losses2.7 119.1Operating lease equipment, net771.8 763.3Total Assets$855.0 $962.8Liabilities Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)$484.6 $566.6Total Liabilities$484.6 $566.6

Stockholder's Equity (Schedule

Stockholder's Equity (Schedule of Common Stock Activity) (Details)	3 Months Ended
	Mar. 31, 2018shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, issued (in shares)	131,352,924
Beginning balance, outstanding (in shares)	207,628,491
Restricted stock issued (in shares)	1,188,303
Repurchase of common stock (in shares)	(3,665,866)
Shares held to cover taxes on vesting restricted shares and other (in shares)	(470,681)
Employee stock purchase plan participation (in shares)	13,603
Ending balance, outstanding (in shares)	208,830,397
Ending balance, issued (in shares)	128,418,283
Issued
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, outstanding (in shares)	207,628,491
Restricted stock issued (in shares)	1,188,303
Employee stock purchase plan participation (in shares)	13,603
Ending balance, outstanding (in shares)	208,830,397
Less Treasury
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, issued (in shares)	(76,275,567)
Repurchase of common stock (in shares)	(3,665,866)
Shares held to cover taxes on vesting restricted shares and other (in shares)	(470,681)
Ending balance, issued (in shares)	(80,412,114)

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Equity, Class of Treasury Stock [Line Items]
Common shares repurchases	$ 194,900,000
Amounts reclassified from AOCI	(3,700,000)	$ 9,500,000
Common Share Repurchases
Equity, Class of Treasury Stock [Line Items]
Common shares repurchases	$ 194,900,000
Open Market Repurchases
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)	3,665,866
Purchase price per share (in dollars per share)	$ 53.16
Foreign currency translation adjustments
Equity, Class of Treasury Stock [Line Items]
Amounts reclassified from AOCI	$ 0	9,500,000
Other comprehensive income, tax	(100,000)	4,400,000
Foreign currency translation adjustments | Other Income
Equity, Class of Treasury Stock [Line Items]
Amounts reclassified from AOCI	0	9,500,000
Changes in benefit plan net gain/(loss) and prior service (cost)/credit losses
Equity, Class of Treasury Stock [Line Items]
Amounts reclassified from AOCI	100,000	0
Other comprehensive income, tax	(800,000)	(600,000)
Changes in benefit plan net gain/(loss) and prior service (cost)/credit losses | Operating Expenses
Equity, Class of Treasury Stock [Line Items]
Amounts reclassified from AOCI	100,000	0
Unrealized net gains (losses) on securities AFS
Equity, Class of Treasury Stock [Line Items]
Amounts reclassified from AOCI	(3,800,000)	0
Other comprehensive income, tax	17,400,000	(1,600,000)
Unrealized net gains (losses) on securities AFS | Other Income
Equity, Class of Treasury Stock [Line Items]
Amounts reclassified from AOCI	$ (3,800,000)	$ 0

Stockholders' Equity (Component

Stockholders' Equity (Components of Accumulated Other Comprehensive Income (Loss) ("AOCI")) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross Unrealized	$ (172.2)	$ (92.3)
Income Taxes	22.3	5.8
Net Unrealized	(149.9)	(86.5)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross Unrealized	1.8	0.8
Income Taxes	(8.9)	(8.8)
Net Unrealized	(7.1)	(8)
Changes in benefit plan net gain (loss) and prior service (cost)/credit
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross Unrealized	(49.1)	(53.6)
Income Taxes	(1.7)	(0.9)
Net Unrealized	(50.8)	(54.5)
Unrealized net gains (losses) on securities AFS
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross Unrealized	(124.9)	(39.5)
Income Taxes	32.9	15.5
Net Unrealized	$ (92)	$ (24)

Stockholders' Equity (Changes i

Stockholders' Equity (Changes in Accumulated Other Comprehensive Income (Loss) by Component) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 7,320	$ 10,003.1
Adoption of ASUs 2016-01 and 2018-02(1)			$ 0.2
Amounts reclassified from AOCI	(3.7)	9.5
Net current period AOCI	(62.9)	16.4
Ending balance	7,126.8	10,165.5
Total AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(86.5)	(140.1)
Adoption of ASUs 2016-01 and 2018-02(1)			(0.5)
AOCI activity before reclassifications	(59.2)	6.9
Amounts reclassified from AOCI	(3.7)	9.5
Net current period AOCI	(62.9)	16.4
Ending balance	(149.9)	(123.7)
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(8)	(61.4)
Adoption of ASUs 2016-01 and 2018-02(1)			3.3
AOCI activity before reclassifications	(2.4)	3.3
Amounts reclassified from AOCI	0	9.5
Net current period AOCI	(2.4)	12.8
Ending balance	(7.1)	(48.6)
Changes in benefit plan net gain (loss) and prior service (cost)/credit
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(54.5)	(65.3)
Adoption of ASUs 2016-01 and 2018-02(1)			0.3
AOCI activity before reclassifications	3.3	0.9
Amounts reclassified from AOCI	0.1	0
Net current period AOCI	3.4	0.9
Ending balance	(50.8)	(64.4)
Unrealized net gains (losses) on available for sale securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(24)	(13.4)
Adoption of ASUs 2016-01 and 2018-02(1)			$ (4.1)
AOCI activity before reclassifications	(60.1)	2.7
Amounts reclassified from AOCI	(3.8)	0
Net current period AOCI	(63.9)	2.7
Ending balance	$ (92)	$ (10.7)

Stockholders' Equity (Reclassif

Stockholders' Equity (Reclassifications out of AOCI) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross Amount	$ (5,100,000)	$ 8,100,000
Tax	1,400,000	1,400,000
Net Amount	(3,700,000)	9,500,000
Foreign currency translation adjustments gains
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount	0	9,500,000
Foreign currency translation adjustments gains | Other Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross Amount	0	8,100,000
Tax	0	1,400,000
Net Amount	0	9,500,000
Foreign currency translation adjustments gains | Other Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount	0	9,500,000
Changes in benefit plan net gain/(loss) and prior service (cost)/credit losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount	100,000	0
Changes in benefit plan net gain/(loss) and prior service (cost)/credit losses | Operating Expenses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross Amount	100,000	0
Tax	0	0
Net Amount	100,000	0
Unrealized net gains (losses) on securities AFS
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Amount	(3,800,000)	0
Unrealized net gains (losses) on securities AFS | Other Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross Amount	(5,200,000)	0
Tax	1,400,000	0
Net Amount	$ (3,800,000)	$ 0

Regulatory Capital (Tier 1 Capi

Regulatory Capital (Tier 1 Capital and Total Capital Components) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Capital	$ 6,321.5	$ 6,479.8
Tier 1 Capital	6,637.7	6,775.4
Total Capital	7,528.2	7,251
Risk-Weighted Assets	$ 44,777.8	$ 44,537.7
Common Equity Tier 1 Capital Ratio:
Actual	14.10%	14.50%
Effective minimum ratios under Basel III guidelines	6.375%	5.75%
Tier 1 Capital Ratio:
Actual	14.80%	15.20%
Effective minimum ratios under Basel III guidelines	7.875%	7.25%
Total Capital Ratio:
Actual	16.80%	16.30%
Effective minimum ratios under Basel III guidelines	9.875%	9.25%
Tier 1 Leverage Ratio:
Actual	13.50%	13.80%
Required minimum ratio for capital adequacy purposes	4.00%	4.00%
CIT Bank, N.A.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Capital	$ 4,730.9	$ 4,751.6
Tier 1 Capital	4,730.9	4,751.6
Total Capital	5,165.5	5,183.3
Risk-Weighted Assets	$ 34,742.2	$ 34,527.2
Common Equity Tier 1 Capital Ratio:
Actual	13.60%	13.80%
Effective minimum ratios under Basel III guidelines	6.375%	5.75%
Tier 1 Capital Ratio:
Actual	13.60%	13.80%
Effective minimum ratios under Basel III guidelines	7.875%	7.25%
Total Capital Ratio:
Actual	14.90%	15.00%
Effective minimum ratios under Basel III guidelines	9.875%	9.25%
Tier 1 Leverage Ratio:
Actual	11.60%	11.80%
Required minimum ratio for capital adequacy purposes	4.00%	4.00%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Contingency [Line Items]
Effective income tax rate percentage	28.50%	41.80%
Liability for uncertain tax positions	$ 13.2		$ 13.5
Accrual for interest and penalties	6.5		$ 6.3
Maximum
Income Tax Contingency [Line Items]
Potential decrease to tax benefits	5
Capital Loss Carryforward
Income Tax Contingency [Line Items]
Capital loss carryforwards, valuation allowance	21.7
U.S. State
Income Tax Contingency [Line Items]
Net operating losses, valuation allowance	208.6
Non U.S.
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance	$ 32.4

Commitments (Summary of Commitm

Commitments (Summary of Commitments) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Financing assets - Due to Expire Within One Year	$ 2,018.1
Financing assets - Due to Expire After One Year	4,689.7
Financing assets - Total Outstanding	6,707.8	$ 6,351.1
Standby letters of credit - Due to Expire Within One Year	31.8
Standby letters of credit - Due to Expire After One Year	212.8
Standby letters of credit - Total Outstanding	244.6	213.3
Other letters of credit - Due to Expire Within One Year	14.3
Other letters of credit - Due to Expire After One Year	0
Other letters of credit - Total Outstanding	14.3	14.2
Deferred purchase credit protection agreements - Due to Expire Within One Year	1,870.6
Deferred purchase credit protection agreements - After One Year	0
Deferred purchase credit protection agreements - Total Outstanding	1,870.6	2,068.1
Guarantees, acceptances and other recourse obligations - Due to Expire Within One Year	2.1
Guarantees, acceptances and other recourse obligations - After One Year	0
Guarantees, acceptances and other recourse obligations - Total Outstanding	2.1	2.1
Rail and other purchase commitments - Due to Expire Within One Year	252.9
Rail and other purchase commitments - Due to Expire After One Year	27.5
Rail and other purchase commitments - Total Outstanding	$ 280.4	222.9
Error Related to Financing Asset and Rail and Other Purchase Commitments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Financing assets - Total Outstanding		113.4
Error Related to Financing Asset Commitments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Financing assets - Total Outstanding		86.6
Error Related to Rail and Other Purchase Commitments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Financing assets - Total Outstanding		$ 26.8

Commitments (Narrative) (Detail

Commitments (Narrative) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)railcar	Dec. 31, 2017USD ($)
Commitments [Line Items]
Financing commitments on which criteria for funding have not been completed	$ 1,464.9	$ 950.3
Financing commitments to trade finance clients that are cancelable only after a notice period, amount	105	190
Additional funding commitments	2,200	2,300
Losses incurred related to indemnification asset	132	134
Other liabilities	1,338.9	1,437.1
Commitments and investments that qualify for community reinvestment tax credit	80	67
Deferred Purchase Agreements
Commitments [Line Items]
DPA credit protection provided to clients	1,774	1,979
DPA credit line agreements net of deferred purchase agreement credit protection	96	89
Other liabilities	$ 5.4	5.3
Purchase Commitments
Commitments [Line Items]
Railcars | railcar	2,120
Reverse Mortgage
Commitments [Line Items]
FDIC required funding amount of reverse mortgages	$ 68	66
Minimum
Commitments [Line Items]
Percent required of claim amount for loan service	98.00%
Amount FDIC agreed to fund any other draws	$ 200
Maximum
Commitments [Line Items]
Typical notice period	90 days
Amount of indemnification for losses by FDIC	$ 200
Maximum | Deferred Purchase Agreements
Commitments [Line Items]
DPA credit line agreements, cancellation notice period	90 days
Financial Freedom | Discontinued Operations
Commitments [Line Items]
Financing commitments	$ 33	34
Error Related to Undrawn Financing Commitments
Commitments [Line Items]
Additional funding commitments		$ 700

Contingencies (Narrative) (Deta

Contingencies (Narrative) (Details) - USD ($) $ in Millions	May 16, 2017	Mar. 31, 2018
Maximum
Contingencies [Line Items]
Amount of losses in excess of established reserves and insurance related to those matters		$ 55
HUD OIG Investigation | Unfavorable Regulatory Action | Settled Litigation
Contingencies [Line Items]
Amount of settlement	$ 89

Business Segment Information (S

Business Segment Information (Segment Pre-Tax Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018		Mar. 31, 2017	Dec. 31, 2017
Segment Pre-tax Income (Loss)
Interest income	$ 451.2		$ 455.7
Interest (expense) benefit	180.5		163.1
Provision for credit losses	68.8		49.7
Rental income on operating leases	253.6		251.3
Other non-interest income	104.7		79.1
Depreciation on operating lease equipment	76.4		73.5
Maintenance and other operating lease expenses	57.4		53.8
Operating expenses / loss on debt extinguishment and deposit redemption	281.4		311.6
Income from continuing operations before benefit (provision) for income taxes	145		134.4
Select Period End Balances
Loans	29,453.6		29,691.4	$ 29,113.9
Credit balances of factoring clients	1,549		1,547.1	1,468.6
Assets held for sale	2,298.8	[1]	562.6	2,263.1	[1]
Operating lease equipment, net	6,774.9	[1]	7,516.2	6,738.9	[1]
Corporate and Other
Segment Pre-tax Income (Loss)
Interest income	48.7		41.2
Interest (expense) benefit	46.8		44.8
Provision for credit losses	0		0
Rental income on operating leases	0		0
Other non-interest income	14		1.8
Depreciation on operating lease equipment	0		0
Maintenance and other operating lease expenses	0		0
Operating expenses / loss on debt extinguishment and deposit redemption	0.1		35.3
Income from continuing operations before benefit (provision) for income taxes	15.8		(37.1)
Select Period End Balances
Loans	0		0
Credit balances of factoring clients	0		0
Assets held for sale	0		0
Operating lease equipment, net	0		0
Commercial Banking
Segment Pre-tax Income (Loss)
Provision for credit losses	67.2		49.2
Select Period End Balances
Loans	23,345.9		22,878.6	23,159.3
Commercial Banking | Operating Segments
Segment Pre-tax Income (Loss)
Interest income	314.9		307.5
Interest (expense) benefit	156.3		119.8
Provision for credit losses	67.2		49.2
Rental income on operating leases	253.6		251.3
Other non-interest income	78		72.3
Depreciation on operating lease equipment	76.4		73.5
Maintenance and other operating lease expenses	57.4		53.8
Operating expenses / loss on debt extinguishment and deposit redemption	183.1		178.7
Income from continuing operations before benefit (provision) for income taxes	106.1		156.1
Select Period End Balances
Loans	23,345.9		22,878.6
Credit balances of factoring clients	1,549		1,547.1
Assets held for sale	1,376.3		336.4
Operating lease equipment, net	6,774.9		7,516.2
Consumer Banking
Segment Pre-tax Income (Loss)
Provision for credit losses	1.6		0.5
Select Period End Balances
Loans	6,107.7		6,812.8	$ 5,954.6
Consumer Banking | Operating Segments
Segment Pre-tax Income (Loss)
Interest income	85.2		100
Interest (expense) benefit	(24.3)		(6.5)
Provision for credit losses	1.6		0.5
Rental income on operating leases	0		0
Other non-interest income	11.5		7.9
Depreciation on operating lease equipment	0		0
Maintenance and other operating lease expenses	0		0
Operating expenses / loss on debt extinguishment and deposit redemption	96		95.6
Income from continuing operations before benefit (provision) for income taxes	23.4		18.3
Select Period End Balances
Loans	6,107.7		6,812.8
Credit balances of factoring clients	0		0
Assets held for sale	864		64.1
Operating lease equipment, net	0		0
Non-Strategic Portfolios | Operating Segments
Segment Pre-tax Income (Loss)
Interest income	2.4		7
Interest (expense) benefit	1.7		5
Provision for credit losses	0		0
Rental income on operating leases	0		0
Other non-interest income	1.2		(2.9)
Depreciation on operating lease equipment	0		0
Maintenance and other operating lease expenses	0		0
Operating expenses / loss on debt extinguishment and deposit redemption	2.2		2
Income from continuing operations before benefit (provision) for income taxes	(0.3)		(2.9)
Select Period End Balances
Loans	0		0
Credit balances of factoring clients	0		0
Assets held for sale	58.5		162.1
Operating lease equipment, net	$ 0		$ 0
[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 Company’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 Company’s interest in the VIEs, are not available to the creditors of CIT or any affiliates of CIT.Assets Cash and interest bearing deposits, restricted$80.5 $80.4Total loans, net of allowance for loan losses2.7 119.1Operating lease equipment, net771.8 763.3Total Assets$855.0 $962.8Liabilities Beneficial interests issued by consolidated VIEs (classified as long-term borrowings)$484.6 $566.6Total Liabilities$484.6 $566.6

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Apr. 09, 2018	Apr. 26, 2018	Mar. 31, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Par value (in dollars per share)			$ 0.01	$ 0.01
Subsequent Event
Subsequent Event [Line Items]
Aggregate premium	$ 15,700,000
Par value (in dollars per share)		$ 0.01
Senior Unsecured | 3.875% Senior Unsecured Notes Due February 2019
Subsequent Event [Line Items]
Rate (%)			3.875%
Senior Unsecured | 3.875% Senior Unsecured Notes Due February 2019 | Subsequent Event
Subsequent Event [Line Items]
Debt repurchased	500,000,000
Carrying value	$ 1,000,000,000
Rate (%)	3.875%
Senior Unsecured | 5.500% Senior Unsecured Notes Due February 2019
Subsequent Event [Line Items]
Rate (%)			5.50%
Senior Unsecured | 5.500% Senior Unsecured Notes Due February 2019 | Subsequent Event
Subsequent Event [Line Items]
Debt repurchased	$ 383,000,000
Rate (%)	5.50%
Modified Dutch Auction Cash Tender Offer | Subsequent Event
Subsequent Event [Line Items]
Maximum cash tender offer		$ 500,000,000
Modified Dutch Auction Cash Tender Offer | Minimum | Subsequent Event
Subsequent Event [Line Items]
Purchase price authorized under tender offer (in dollars per share)		$ 50
Modified Dutch Auction Cash Tender Offer | Maximum | Subsequent Event
Subsequent Event [Line Items]
Purchase price authorized under tender offer (in dollars per share)		$ 56

Uncategorized Items - cit-20180

Label	Element	Value
Qualified Affordable Housing Project Investments, Commitment	us-gaap_QualifiedAffordableHousingProjectInvestmentsCommitment	$ 0
Qualified Affordable Housing Project Investments, Commitment	us-gaap_QualifiedAffordableHousingProjectInvestmentsCommitment	15,000,000
Disposal Group, Including Discontinued Operation, Restricted Cash	cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash	381,400,000
Disposal Group, Including Discontinued Operation, Restricted Cash	cit_DisposalGroupIncludingDiscontinuedOperationRestrictedCash	$ 9,800,000