EX-99.17 18 e60680ex99-17.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES QUARTER ENDED 3/31/14

Exhibit 99.17

 

 

CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (dollars in millions)

 

   Quarters Ended
   March 31,  December 31,  March 31,
   2014  2013  2013
Earnings:               
Net income  $117.2   $129.9   $162.6 
Provision for income taxes - continuing operations   13.5    28.6    12.8 
(Income) loss from discontinued operation, net of taxes   (2.3)   (6.9)   (9.7)
Income (loss) from continuing operations, before provision for income taxes   128.4    151.6    165.7 
Fixed Charges:               
Interest and debt expenses on indebtedness   271.9    267.5    274.1 
Interest factor: one-third of rentals on real and personal properties   1.9    1.6    2.7 
Total fixed charges for computation of ratio   273.8    269.1    276.8 
Total earnings before provision for income taxes and fixed charges  $402.2   $420.7   $442.5 
Ratios of earnings to fixed charges   1.47x   1.56x   1.60x

 

 

 

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