EX-12 3 a2079410zex-12.txt EXHIBIT 12 EXHIBIT 12 CIT GROUP INC. AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES ($ IN MILLIONS)
FOR THE SIX MONTHS ENDED FOR THE SIX MONTHS ENDED MARCH 31, 2002 MARCH 31, 2001 ------------------------ ------------------------ (SUCCESSOR) (PREDECESSOR) Net income....................................... $ 396.3 $ 320.2 Provision for income taxes....................... 243.3 194.5 -------- -------- Earnings before provision for income taxes....... 639.6 514.7 -------- -------- Fixed charges: Interest and debt expense on indebtedness...... 721.3 1,277.9 Minority interest in subsidiary trust holding solely debentures of the Company............. 8.1 9.6 Interest factor-one third of rentals on real and personal properties...................... 7.8 9.0 -------- -------- Total fixed charges.............................. 737.2 1,296.5 -------- -------- Total earnings before provision for income taxes and fixed charges.............................. $1,376.8 $1,811.2 -------- -------- Ratios of earnings to fixed charges.............. 1.87x 1.40x ======== ========