EX-12.1 2 exhibit121.htm EXHIBIT 12.1 Exhibit


EXHIBIT 12.1



CIT Group Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (dollars in millions)
 
Years Ended
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
 
December 31, 2014
 
December 31, 2013
Earnings:
 
 
 
 
 
 
 
 
 
Net income (loss)
$
468.2

 
$
(848.0
)
 
$
1,034.1

 
$
1,119.1

 
$
675.7

(Benefit) provision for income taxes - continuing operations
(67.8
)
 
203.5

 
(538.0
)
 
(432.4
)
 
50.4

Loss (income) from discontinued operation, net of taxes
(208.8
)
 
665.4

 
(310.0
)
 
(443.4
)
 
(437.3
)
Income from continuing operations, before provision for income taxes
191.6

 
20.9

 
186.1

 
243.3

 
288.8

Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest and debt expenses on indebtedness
717.7

 
753.2

 
731.4

 
715.1

 
751.2

Interest factor: one-third of rentals on real and personal properties
14.9

 
15.5

 
11.1

 
7.2

 
7.7

Total fixed charges for computation of ratio
732.6

 
768.7

 
742.5

 
722.3

 
758.9

Total earnings before provision for income taxes and fixed charges
$
924.2

 
$
789.6

 
$
928.6

 
$
965.6

 
$
1,047.7

 
 
 
 
 
 
 
 
 
 
Ratios of earnings to fixed charges
1.83x

 
1.03x

 
1.25x

 
1.34x

 
1.38x