XML 54 R42.htm IDEA: XBRL DOCUMENT v3.20.1
Business Segment Information (Tables)
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Segment Pre-Tax Income (Loss)

The following table presents segment data related to continuing operations.

Segment Pre-tax Income (Loss) (dollars in millions)

 

Commercial

Banking

 

 

Consumer

Banking

 

 

Corporate

 

 

Total CIT

 

Quarter Ended March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

$

367.9

 

 

$

101.6

 

 

$

44.1

 

 

$

513.6

 

Interest expense (benefit)

 

163.5

 

 

 

(10.1

)

 

 

72.3

 

 

 

225.7

 

Provision for credit losses

 

508.9

 

 

 

5.0

 

 

 

-

 

 

 

513.9

 

Rental income on operating leases

 

209.8

 

 

 

-

 

 

 

-

 

 

 

209.8

 

Other non-interest income

 

87.3

 

 

 

14.0

 

 

 

29.3

 

 

 

130.6

 

Depreciation on operating lease equipment

 

78.3

 

 

 

-

 

 

 

-

 

 

 

78.3

 

Maintenance and other operating lease expenses

 

53.6

 

 

 

-

 

 

 

-

 

 

 

53.6

 

Goodwill impairment

 

301.5

 

 

 

43.2

 

 

 

-

 

 

 

344.7

 

Operating expenses/loss on debt extinguishment and deposit redemption

 

213.3

 

 

 

102.1

 

 

 

19.0

 

 

 

334.4

 

(Loss) income from continuing operations before provision (benefit) for income taxes

$

(654.1

)

 

$

(24.6

)

 

$

(17.9

)

 

$

(696.6

)

Select Period End Balances

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

$

30,022.7

 

 

$

8,507.7

 

 

$

-

 

 

$

38,530.4

 

Credit balances of factoring clients

 

(1,023.7

)

 

 

-

 

 

 

-

 

 

 

(1,023.7

)

Assets held for sale

 

48.3

 

 

 

24.9

 

 

 

-

 

 

 

73.2

 

Operating lease equipment, net

 

7,488.1

 

 

 

-

 

 

 

-

 

 

 

7,488.1

 

Quarter Ended March 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

$

356.6

 

 

$

95.5

 

 

$

64.4

 

 

$

516.5

 

Interest expense (benefit)

 

199.4

 

 

 

(39.3

)

 

 

75.5

 

 

 

235.6

 

Provision (benefit) for credit losses

 

35.1

 

 

 

(2.1

)

 

 

-

 

 

 

33.0

 

Rental income on operating leases

 

217.7

 

 

 

-

 

 

 

-

 

 

 

217.7

 

Other non-interest income

 

77.6

 

 

 

4.7

 

 

 

14.5

 

 

 

96.8

 

Depreciation on operating lease equipment

 

79.4

 

 

 

-

 

 

 

-

 

 

 

79.4

 

Maintenance and other operating lease expenses

 

49.8

 

 

 

-

 

 

 

-

 

 

 

49.8

 

Operating expenses/loss on debt extinguishment and deposit redemption

 

180.7

 

 

 

93.8

 

 

 

1.7

 

 

 

276.2

 

Income from continuing operations before provision (benefit) for income taxes

$

107.5

 

 

$

47.8

 

 

$

1.7

 

 

$

157.0

 

Select Period End Balances

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

$

24,641.3

 

 

$

6,605.7

 

 

$

-

 

 

$

31,247.0

 

Credit balances of factoring clients

 

(1,651.3

)

 

 

-

 

 

 

-

 

 

 

(1,651.3

)

Assets held for sale

 

56.1

 

 

 

4.5

 

 

 

18.8

 

 

 

79.4

 

Operating lease equipment, net

 

6,989.5

 

 

 

-

 

 

 

-

 

 

 

6,989.5