EX-12 19 a2069484zex-12.txt EXHIBIT 12 EXHIBIT 12 CIT GROUP INC. AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES ($ IN MILLIONS)
FOR THE QUARTER ENDED FOR THE QUARTER ENDED DECEMBER 31, 2001 DECEMBER 31, 2000 --------------------- --------------------- (SUCCESSOR) (PREDECESSOR) Net income............................................ $239.1 $160.1 Provision for income taxes............................ 146.6 97.4 ------ ------ Earnings before provision for income taxes............ 385.7 257.5 ------ ------ Fixed charges: Interest and debt expense on indebtedness........... 349.1 652.2 Minority interest in subsidiary trust holding solely debentures of the Company......................... 3.7 4.8 Interest factor-one third of rentals on real and personal properties............................... 4.0 4.4 ------ ------ Total fixed charges................................... 356.8 661.4 ------ ------ Total earnings before provision for income taxes and fixed charges....................................... $742.5 $918.9 ====== ====== Ratios of earnings to fixed charges................... 2.08x 1.39x