EX-12 2 0002.txt COMPUTATION OF RATIOS OF EARNINGS TO CHARGES EXHIBIT 12 THE CIT GROUP, INC. AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Dollars in Millions)
-------------------------------------------------------------------------------------------------- For the Six Months Ended June 30, ------------------------------ 2000 1999 -------- ------ Net income $ 295.3 $188.2 Provision for income taxes 181.5 100.5 -------- ------ Earnings before provision for income taxes 476.8 288.7 -------- ------ Fixed charges: Interest and debt expense on indebtedness 1,202.8 554.1 Minority interest in subsidiary trust holding solely debentures of the Company 9.6 9.6 Interest factor - one third of rentals on real and personal properties 11.1 4.9 -------- ------ Total fixed charges 1,223.5 568.6 -------- ------ Total earnings before provision for income taxes and fixed charges $1,700.3 $857.3 ======== ====== Ratios of earnings to fixed charges 1.39x 1.51x --------------------------------------------------------------------------------------------------