EX-12.1 2 e40694ex12_1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES a40694_10q.htm - Generated by SEC Publisher for SEC Filing
EXHIBIT 12.1
 
Computation of Ratios of Earnings to Fixed Charges
Nine months ended September 30, (dollars in millions)
  CIT   Predecessor CIT  
 
 
 
  2010   2009  
 
 
 
Earnings:            
      Net income (loss) attributable to common shareholders (1) $ 418.3     $ (3,157.1 )
      Provision (benefit) for income taxes   187.2     (12.4 )
 
 
 
      Income (loss) before provision for income taxes   605.5     (3,169.5 )
 
 
 
Fixed charges:            
      Interest and debt expenses on indebtedness   2,377.7     1,984.5  
      Interest factor: one-third of rentals on real and personal properties   11.7     13.6  
 
 
 
      Total fixed charges   2,389.4     1,998.1  
 
 
 
Total earnings before provision for income taxes and fixed charges $ 2,994.9   $ (1,171.4 )
 
 
Ratios of earnings to fixed charges   1.25x     (1)  
 
 

(1)      Earnings were insufficient to cover fixed charges by $3,169.5 million for the nine months ended September 30, 2009.

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