EX-12.1 2 e33450ex12_1.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
EXHIBIT 12.1

CIT Group Inc. and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges Nine months ended September 30, (dollars in millions)

  2008
2007
Earnings:            
   Net (loss) income (attributable) available to common shareholders(1) $ (2,658.9 ) $ 19.7  
   Loss from discontinued operation   2,109.4     687.4  
   (Benefit) provision for income taxes   (281.5 )   248.4  
 
 
 
   (Loss) earnings before provision for income taxes   (831.0 )   955.5  
 
 
 
Fixed charges:            
   Interest and debt expenses on indebtedness   2,344.5     2,511.3  
   Minority interest in subsidiary trust holding solely debentures of the company, before tax   –     5.0  
   Interest factor: one-third of rentals on real and personal properties   13.9     13.0  
 
 
 
   Total fixed charges   2,358.4     2,529.3  
 
 
 
Total earnings before provision for income taxes and fixed charges $ 1,527.4   $ 3,484.8  
 
 
 
Ratios of earnings to fixed charges   (1 )   1.38 x
 
 
 

(1)      Earnings were insufficient to cover fixed charges by $831.0 million for the nine months ended September 30, 2008.