EX-12.1 4 cit-03312018xexhibit121.htm EXHIBIT 12.1 Exhibit


EXHIBIT 12.1
CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (dollars in millions)
 
 
 
 
 
 
 
Quarters Ended
Earnings:
March 31, 2018
 
December 31, 2017
 
March 31, 2017
Net income
$
97.0

 
$
(88.0
)
 
$
179.9

Provision (benefit) for income taxes - continuing operations
41.3

 
27.7

 
56.2

(Income) loss from discontinued operations, net of taxes
6.7

 
5.2

 
(101.7
)
Income from continuing operations, before provision (benefit) or income taxes
145.0

 
(55.1
)
 
134.4

Fixed Charges:
 
 
 
 
 
Interest and debt expenses on indebtedness
180.5

 
168.7

 
163.1

Interest factor: one-third of rentals on real and personal properties
3.8

 
3.9

 
3.6

Total fixed charges for computation of ratio
184.3

 
172.6

 
166.7

Total earnings before provision (benefit) for income taxes and fixed charges
$
329.3

 
$
117.5

 
$
301.1

Ratios of earnings to fixed charges
1.79x

 
0.68x

 
1.81x