EX-12.1 10 e63997ex12-1.htm RATIO OF EARNINGS

EXHIBIT 12.1

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

        Quarters Ended
        March 31,
2015
     December 31,
2014
     March 31,
2014
Earnings:
                                                     
Net income
               $ 103.7          $ 251.0          $ 117.2   
Provision (benefit) for income taxes – continuing operations
                  44.0             (28.3 )            13.5   
(Income) loss from discontinued operation, net of taxes
                  —              1.0             (2.3 )  
Income (loss) from continuing operations, before provision for income taxes
                  147.7             223.7             128.4   
Fixed Charges:
                                                        
Interest and debt expenses on indebtedness
                  271.3             276.9             271.9   
Interest factor: one-third of rentals on real and personal properties
                  1.8             2.0             1.9   
Total fixed charges for computation of ratio
                  273.1             278.9             273.8   
Total earnings before provision for income taxes and fixed charges
               $ 420.8          $ 502.6          $ 402.2   
Ratios of earnings to fixed charges
                  1.54 x            1.80 x            1.47 x