EX-12.1 2 e38643ex12_1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
EXHIBIT 12.1

Computation of Ratios of Earnings to Fixed Charges Three months ended March 31, (dollars in millions)
  CIT
2010
Predecessor CIT
2009
Earnings:            
        Net income (loss) attributable to common shareholders(1) $ 97.3   $ (403.2 )
        Provision for income taxes   42.5     8.0  
 
 
 
        Income (loss) before provision for income taxes   139.8     (395.2 )
 
 
 
Fixed charges:            
        Interest and debt expenses on indebtedness   837.8     657.1  
        Interest factor: one-third of rentals on real and personal properties   5.1     6.5  
 
 
 
        Total fixed charges   842.9     663.6  
 
 
 
Total earnings before provision for income taxes and fixed charges $ 982.7   $ 268.4  
 
 
 
Ratios of earnings to fixed charges   1.17 x   (1 )
 
 
 

(1) Earnings were insufficient to cover fixed charges by $395.2 million for the three months ended March 31, 2009.