CIT GROUP INC - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - March 16, 2010

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10-K - ANNUAL REPORT - CIT GROUP INCe38085_10k.htm
EX-31.1 - CERTIFICATION OF JOHN A. THAIN - CIT GROUP INCe38085ex31_1.htm
EX-99.2 - CERTIFICATION - CIT GROUP INCe38085ex99_2.htm
EX-99.1 - CERTIFICATION - CIT GROUP INCe38085ex99_1.htm
EX-21.1 - SUBSIDIARIES OF CIT - CIT GROUP INCe38085ex21_1.htm
EX-32.2 - CERTIFICATION OF JOSEPH M. LEONE - CIT GROUP INCe38085ex32_2.htm
EX-10.9 - LONG-TERM INCENTIVE PLAN RESTRICTED STOCK AWARD AGREEMENT - CIT GROUP INCe38085ex10_9.htm
EX-31.2 - CERTIFICATION OF JOSEPH M. LEONE - CIT GROUP INCe38085ex31_2.htm
EX-32.1 - CERTIFICATION OF JOHN A. THAIN - CIT GROUP INCe38085ex32_1.htm
EX-10.8 - LONG-TERM INCENTIVE PLAN STOCK OPTION AWARD AGREEMENT - CIT GROUP INCe38085ex10_8.htm
EX-24.1 - POWERS OF ATTORNEY - CIT GROUP INCe38085ex24_1.htm
EX-10.17 - EXTENSION OF TERM OF EMPLOYMENT AGREEMENT-JOSEPH M. LEONE - CIT GROUP INCe38085ex10_17.htm
EX-10.20 - LETTER AGREEMENT BETWEEN CIT GROUP INC. AND ALEXANDER T. MASON - CIT GROUP INCe38085ex10_20.htm
EX-10.24 - EXTENSION OF TERM OF EMPLOYMENT AGREEMENT-JEFFREY KNITTEL - CIT GROUP INCe38085ex10_24.htm
EX-10.10 - LONG-TERM INCENTIVE PLAN DEFERRED CASH RETENTION AWARD AGREEMENT - CIT GROUP INCe38085ex10_10.htm
EX-10.11 - LONG-TERM INCENTIVE PLAN DEFERRED CASH RETENTION AWARD AGREEMENT - CIT GROUP INCe38085ex10_11.htm
EX-10.18 - LONG-TERM INCENTIVE PLAN 2010 ANNUAL STOCK SALARY AGREEMENT FOR JOSEPH M. LEONE - CIT GROUP INCe38085ex10_18.htm
EXHIBIT 12.1

CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (dollars in millions)
  Predecessor CIT
  Years Ended December 31,
  2009
2008
2007
2006
2005
Earnings:                              
Net (loss) income (attributable) available to common shareholders $ (3.8 ) $ (2,864.2 ) $ (111.0 ) $ 1,015.8   $ 936.4  
Net (income) loss from discontinued operation   –     2,166.4     873.0     (120.3 )   (30.6 )
(Benefit) provision for income taxes – continuing operations   (132.1 )   (444.4 )   300.9     280.8     444.5  
 
 
 
 
 
 
Earnings (loss) from continuing operations, before provision for income taxes   (135.9 )   (1,142.2 )   1,062.9     1,176.3     1,350.3  
 
 
 
 
 
 
Fixed Charges:                              
Interest and debt expenses on indebtedness   2,659.4   $ 3,139.1   $ 3,411.9   $ 2,518.4   $ 1,694.4  
Noncontrolling minority interest in subsidiary trust holding solely                              
debentures of the company, before tax   –     –     5.1     17.4     17.7  
Interest factor: one-third of rentals on real and personal properties   17.6     18.9     18.5     17.1     12.6  
 
 
 
 
 
 
Total Fixed Charges:   2,677.0     3,158.0     3,435.5     2,552.9     1,724.7  
 
 
 
 
 
 
Total earnings before provision for income taxes and fixed charges $ 2,541.1   $ 2,015.8   $ 4,498.4   $ 3,729.2   $ 3,075.0  
 
 
 
 
 
 
Ratios of earnings to fixed charges   (1 )   (1 )   1.31x     1.46x     1.78x  

(1) Earnings were insufficient to cover fixed charges by $135.9 million and $1,142.2 million for the twelve months ended December 31, 2009 and December 31, 2008.

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