EX-12.1 2 d30431_ex12-1.htm EX-12.1 Unassociated Document

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EXHIBIT 12.1

CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (dollars in millions)

        Quarters Ended
    
        March 31,
2013
     December 31,
2012
     March 31,
2012
Earnings:
                                                     
Net income (loss)
               $ 162.6          $ 206.8          $ (427.0 )  
Provision for income taxes
                  15.2             44.2             40.3   
Income (loss) before provision for income taxes
                  177.8             251.0             (386.7 )  
Fixed Charges:
                                                     
Interest and debt expenses on indebtedness
                  291.9             366.6             1,080.6   
Interest factor: one-third of rentals on real and personal properties
                  2.7             3.0             2.1   
Total fixed charges for computation of ratio
                  294.6             369.6             1,082.7   
Total earnings before provision for income taxes and fixed charges
               $ 472.4          $ 620.6          $ 696.0   
Ratios of earnings to fixed charges
                  1.60 x            1.68 x            (1)   
 
(1)  
   Earnings were insufficient to cover fixed charges by $386.7 million for the quarter ended March 31, 2012.