EX-12 2 0002.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EXHIBIT 12 THE CIT GROUP, INC. AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Dollars in Millions) -------------------------------------------------------------------------------- For the Nine Months Ended September 30, ------------------------- 2000 1999 -------- -------- Net income $ 451.5 $ 285.1 Provision for income taxes 276.5 151.6 -------- -------- Earnings before provision for income taxes 728.0 436.7 -------- -------- Fixed charges: Interest and debt expense on indebtedness 1,845.5 858.2 Minority interest in subsidiary trust holding solely debentures of the Company 14.4 14.4 Interest factor - one third of rentals on real and personal properties 15.2 6.7 -------- -------- Total fixed charges 1,875.1 879.3 -------- -------- Total earnings before provision for income taxes and fixed charges $2,603.1 $1,316.0 ======== ======== Ratios of earnings to fixed charges 1.39x 1.50x --------------------------------------------------------------------------------