EX-12 5 file005.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 Three Months Ended March 31, -------------------------- 2001 2000 ------ ------ Net income $160.1 $143.9 Provisions for income taxes 97.1 88.3 ------ ------ Earnings before provision for income taxes 257.2 232.2 ------ ------ Fixed charges: Interest and debt expense on indebtedness 625.7 571.9 Minority interest in subsidiary trust holding solely debentures of the Company 4.8 4.8 Interest factor - one third of rentals on real and personal properties 4.6 6.0 ------ ------ Total fixed charges 635.1 582.7 ------ ------ Total earnings before provision for income taxes and fixed charges $892.3 $814.9 ------ ------ Ratios of earnings to fixed charges 1.40x 1.40x ------ ------ --------------------------------------------------------------------------------