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Consolidated Balance Sheets (USD $)
In Millions
Jun. 30, 2011
Dec. 31, 2010
Assets    
Cash and due from banks $ 818.2 $ 734.1
Interest bearing deposits, including restricted balances of $2,425.8 at June 30, 2011 and $2,553.8 at December 31, 2010(1) 6,537.5 [1] 10,469.9 [1]
Investment securities 2,983.3 328.5 [2]
Trading assets at fair value - derivatives 12.6 25.7
Assets held for sale 1,863.5 [1] 1,218.5 [1],[2]
Loans (see Note 5 for amounts pledged) 22,284.7 24,500.5
Allowance for loan losses (424.0) (416.2)
Total loans, net of allowance for loan losses 21,860.7 [1] 24,084.3 [1],[2]
Operating lease equipment, net (see Note 5 for amounts pledged) 10,920.4 [1] 11,136.7 [1],[2]
Unsecured counterparty receivable 528.9 534.5
Goodwill 264.5 277.4
Intangible assets, net 84.1 119.2
Other assets 2,135.9 2,029.4
Total Assets 48,009.6 50,958.2 [2]
Liabilities    
Deposits 4,428.1 4,536.2
Trading liabilities at fair value - derivatives 230.6 126.3
Credit balances of factoring clients 1,084.9 935.3 [2]
Other liabilities 2,432.0 2,466.9
Long-term borrowings, including $2,487.5 and $3,686.3 contractually due within twelve months at June 30, 2011 and December 31, 2010, respectively 30,891.1 [3] 33,979.8 [3]
Total Liabilities 39,066.7 42,044.5 [2]
Stockholders' Equity    
Common stock: $0.01 par value, 600,000,000 authorized Issued: 200,863,106 at June 30, 2011 and 200,690,938 at December 31, 2010 Outstanding: 200,579,734 at June 30, 2011 and 200,463,197 at December 31, 2010 2.0 2.0
Paid-in capital 8,447.4 8,434.1
Retained earnings 515.9 498.3
Accumulated other comprehensive income (12.3) (9.6)
Treasury stock: 283,372 shares at June 30, 2011 and 227,741 at December 31, 2010, at cost (11.5) (8.8)
Total Common Stockholders' Equity 8,941.5 8,916.0 [2]
Noncontrolling minority interests 1.4 (2.3) [2]
Total Equity 8,942.9 8,913.7 [2]
Total Liabilities and Equity 48,009.6 50,958.2 [2]
Variable Interest Entity, Primary Beneficiary [Member]
   
Assets    
Interest bearing deposits, including restricted balances of $2,425.8 at June 30, 2011 and $2,553.8 at December 31, 2010(1) 875.7 931.2
Assets held for sale 132.4 100.0
Total loans, net of allowance for loan losses 11,030.7 12,041.5
Operating lease equipment, net (see Note 5 for amounts pledged) 2,974.7 2,900.0
Total Assets 15,013.5 15,972.7
Liabilities    
Beneficial interests issued by consolidated VIEs (classified as long-term borrowings) 9,651.0 10,764.7
Total Liabilities $ 9,651.0 $ 10,764.7
[1] The following table presents information on assets and liabilities related to Variable Interest Entities (VIEs) that are consolidated by the Company. The difference between total VIE assets and liabilities represents the Company's interests in those entities, which were eliminated in consolidation. The assets of the consolidated VIEs will be used to settle the liabilities of those entities and, except for the Company's interest in the VIEs, are generally not available to the creditors of CIT or any affiliates of CIT.
[2] 2010 data has been conformed to the current quarter presentation.
[3] The presented rates are contractual and do not reflect the impact of FSA. Rates associated with the Series C - other are discussed further below.