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Cit Group Inc – ‘10-Q’ for 3/31/18 – ‘EX-12.1’

On:  Friday, 5/4/18, at 4:34pm ET   ·   For:  3/31/18   ·   Accession #:  1628280-18-5979   ·   File #:  1-31369

Previous ‘10-Q’:  ‘10-Q’ on 11/3/17 for 9/30/17   ·   Next:  ‘10-Q’ on 8/3/18 for 6/30/18   ·   Latest:  ‘10-Q’ on 11/5/21 for 9/30/21   ·   6 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/04/18  Cit Group Inc                     10-Q        3/31/18  112:25M                                    Workiva Inc Wde… FA01/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   2.13M 
 2: EX-10.23    Material Contract                                   HTML    170K 
 3: EX-10.24    Material Contract                                   HTML    111K 
 4: EX-12.1     Statement re: Computation of Ratios                 HTML     43K 
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     38K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     38K 
 7: EX-32.1     Certification -- §906 - SOA'02                      HTML     34K 
 8: EX-32.2     Certification -- §906 - SOA'02                      HTML     34K 
15: R1          Document and Entity Information                     HTML     51K 
16: R2          Condensed Consolidated Balance Sheets (Unaudited)   HTML    128K 
17: R3          Condensed Consolidated Balance Sheets (Unaudited)   HTML     66K 
                (Parenthetical)                                                  
18: R4          Condensed Consolidated Statements of Income         HTML    139K 
                (Unaudited)                                                      
19: R5          Condensed Consolidated Statements of Comprehensive  HTML     52K 
                Income (Unaudited)                                               
20: R6          Condensed Consolidated Statements of Stockholders'  HTML     67K 
                Equity (Unaudited)                                               
21: R7          Condensed Consolidated Statements of Cash Flows     HTML    138K 
                (Unaudited)                                                      
22: R8          Business and Summary of Significant Accounting      HTML     87K 
                Policies                                                         
23: R9          Discontinued Operations                             HTML    155K 
24: R10         Loans                                               HTML    656K 
25: R11         Allowance For Loan Losses                           HTML    119K 
26: R12         Investment Securities                               HTML    275K 
27: R13         Borrowings                                          HTML    165K 
28: R14         Derivative Financial Instruments                    HTML    215K 
29: R15         Fair Value                                          HTML    475K 
30: R16         Stockholders' Equity                                HTML    161K 
31: R17         Regulatory Capital                                  HTML     94K 
32: R18         Income Taxes                                        HTML     43K 
33: R19         Commitments                                         HTML     91K 
34: R20         Contingencies                                       HTML     47K 
35: R21         Business Segment Information                        HTML    139K 
36: R22         Subsequent Events                                   HTML     37K 
37: R23         Business and Summary of Significant Accounting      HTML    104K 
                Policies (Policies)                                              
38: R24         Business and Summary of Significant Accounting      HTML     51K 
                Policies (Tables)                                                
39: R25         Discontinued Operations (Tables)                    HTML    154K 
40: R26         Loans (Tables)                                      HTML    641K 
41: R27         Allowance For Loan Losses (Tables)                  HTML    119K 
42: R28         Investment Securities (Tables)                      HTML    278K 
43: R29         Borrowings (Tables)                                 HTML    155K 
44: R30         Derivative Financial Instruments (Tables)           HTML    266K 
45: R31         Fair Value (Tables)                                 HTML    438K 
46: R32         Stockholders' Equity (Tables)                       HTML    158K 
47: R33         Regulatory Capital (Tables)                         HTML     90K 
48: R34         Commitments (Tables)                                HTML     70K 
49: R35         Business Segment Information (Tables)               HTML    140K 
50: R36         Business and Summary of Significant Accounting      HTML     54K 
                Policies (Narrative) (Details)                                   
51: R37         Discontinued Operations (Schedule of Condensed      HTML     61K 
                Balance Sheet Aerospace Discontinued Operations)                 
                (Details)                                                        
52: R38         Discontinued Operations (Schedule of Condensed      HTML     82K 
                Statements of Income and Cash Flow of Aerospace                  
                Discontinued Operations) (Details)                               
53: R39         Discontinued Operations (Narrative) (Details)       HTML     53K 
54: R40         Discontinued Operations (Schedule of Condensed      HTML     81K 
                Balance Sheet Financial Freedom Discontinued                     
                Operations) (Details)                                            
55: R41         Discontinued Operations (Schedule of Condensed      HTML     77K 
                Statements of Income and Cash Flow of Financial                  
                Freedom Discontinued Operations) (Details)                       
56: R42         Discontinued Operations (Schedule of Condensed      HTML     63K 
                Combined Balance Sheet of Discontinued Operations)               
                (Details)                                                        
57: R43         Discontinued Operations (Schedule of Condensed      HTML     73K 
                Combined Statements of Income and Cash Flow of                   
                Discontinued Operations) (Details)                               
58: R44         Loans (Schedule of Loans by Product) (Details)      HTML     49K 
59: R45         Loans (Schedule of Loans by Segment, Based on       HTML     50K 
                Obligor Location) (Details)                                      
60: R46         Loans (Components of Net Investment in Loans)       HTML     39K 
                (Details)                                                        
61: R47         Loans (Commercial Loans and Held-For-Sale Loans -   HTML    127K 
                By Risk Rating) (Details)                                        
62: R48         Loans (Narrative) (Details)                         HTML    105K 
63: R49         Loans (Schedule of Consumer Loan LTV                HTML     86K 
                Distributions) (Details)                                         
64: R50         Loans (Loans and Held For Sale Loans - Delinquency  HTML    120K 
                Status) (Details)                                                
65: R51         Loans (Loans on Non-accrual Status) (Details)       HTML     84K 
66: R52         Loans (Schedule of Loans In Process of Foreclosure  HTML     44K 
                and OREO) (Details)                                              
67: R53         Loans (Impaired Loans) (Details)                    HTML     86K 
68: R54         Loans (Purchased Credit Impaired Loans) (Details)   HTML     59K 
69: R55         Loans (Summary of Commercial PCI Loans by Credit    HTML     50K 
                Quality) (Details)                                               
70: R56         Loans (Schedule of Changes to the Accretable Yield  HTML     45K 
                for PCI Loans) (Details)                                         
71: R57         Allowance For Loan Losses (Schedule of Allowance    HTML    102K 
                for Loan Losses and Recorded Investment in Finance               
                Receivables) (Details)                                           
72: R58         Investment Securities (Schedule of Investment       HTML     61K 
                Securities) (Details)                                            
73: R59         Investment Securities (Narrative) (Details)         HTML     69K 
74: R60         Investment Securities (Schedule of Interest and     HTML     43K 
                Dividend Income) (Details)                                       
75: R61         Investment Securities (Amortized Cost and Fair      HTML     72K 
                Value of AFS and HTM Securities) (Details)                       
76: R62         Investment Securities (Schedule of Amortized Cost   HTML    104K 
                and Fair Value Maturities with Changes Recorded in               
                Net Income) (Details)                                            
77: R63         Investment Securities (Schedule of AFS and HTM -    HTML     74K 
                Estimated Unrealized Losses) (Details)                           
78: R64         Investment Securities (Changes in Accretable Yield  HTML     51K 
                for Purchased Credit-Impaired Securities)                        
                (Details)                                                        
79: R65         Borrowings (Schedule of Long-Term Borrowings)       HTML     56K 
                (Details)                                                        
80: R66         Borrowings (Narrative) (Details)                    HTML    149K 
81: R67         Borrowings (Schedule of Senior Unsecured Notes)     HTML     56K 
                (Details)                                                        
82: R68         Borrowings (Schedule of FHLB Advances with Pledged  HTML     38K 
                Assets) (Details)                                                
83: R69         Borrowings (Schedule of Structured Financings and   HTML     55K 
                Pledged Assets) (Details)                                        
84: R70         Borrowings (Assets and Liabilities in               HTML     56K 
                Unconsolidated VIEs) (Details)                                   
85: R71         Derivative Financial Instruments (Fair and          HTML     81K 
                Notional Values of Derivative Financial                          
                Instruments) (Details)                                           
86: R72         Derivative Financial Instruments (Offsetting of     HTML     80K 
                Derivative Assets and Liabilities) (Details)                     
87: R73         Derivative Financial Instruments (Narrative)        HTML     58K 
                (Details)                                                        
88: R74         Derivative Financial Instruments Derivative         HTML     41K 
                Financial Instruments (Fair Value Hedges)                        
                (Details)                                                        
89: R75         Derivative Financial Instruments (Derivative        HTML     55K 
                Instrument Gains and Losses) (Details)                           
90: R76         Derivative Financial Instruments (Changes in AOCI   HTML     48K 
                Relating to Derivatives) (Details)                               
91: R77         Fair Value (Assets and Liabilities Measured at      HTML     85K 
                Fair Value on a Recurring Basis) (Details)                       
92: R78         Fair Value (Narrative) (Details)                    HTML    103K 
93: R79         Fair Value (Quantitative Information about Level 3  HTML     88K 
                Fair Value Measurements-Recurring) (Details)                     
94: R80         Fair Value (Changes in Estimated Fair Value for     HTML     81K 
                Financial Assets and Liabilities Measured on                     
                Recurring Basis) (Details)                                       
95: R81         Fair Value (Carrying Value of Assets Measured at    HTML     69K 
                Fair Value on a Non-Recurring Basis) (Details)                   
96: R82         Fair Value (Carrying and Estimated Fair Values of   HTML    139K 
                Financial Instruments) (Details)                                 
97: R83         Stockholder's Equity (Schedule of Common Stock      HTML     56K 
                Activity) (Details)                                              
98: R84         Stockholders' Equity (Narrative) (Details)          HTML     63K 
99: R85         Stockholders' Equity (Components of Accumulated     HTML     49K 
                Other Comprehensive Income (Loss) ("Aoci"))                      
                (Details)                                                        
100: R86         Stockholders' Equity (Changes in Accumulated Other  HTML     65K  
                Comprehensive Income (Loss) by Component)                        
                (Details)                                                        
101: R87         Stockholders' Equity (Reclassifications out of      HTML     57K  
                AOCI) (Details)                                                  
102: R88         Regulatory Capital (Tier 1 Capital and Total        HTML     78K  
                Capital Components) (Details)                                    
103: R89         Income Taxes (Narrative) (Details)                  HTML     58K  
104: R90         Commitments (Summary of Commitments) (Details)      HTML     73K  
105: R91         Commitments (Narrative) (Details)                   HTML     79K  
106: R92         Contingencies (Narrative) (Details)                 HTML     41K  
107: R93         Business Segment Information (Segment Pre-Tax       HTML    111K  
                Income (Loss)) (Details)                                         
108: R94         Subsequent Events (Details)                         HTML     65K  
109: R9999       Uncategorized Items - cit-20180331.xml              HTML     35K  
111: XML         IDEA XML File -- Filing Summary                      XML    216K  
110: EXCEL       IDEA Workbook of Financial Reports                  XLSX    175K  
 9: EX-101.INS  XBRL Instance -- cit-20180331                        XML   8.82M 
11: EX-101.CAL  XBRL Calculations -- cit-20180331_cal                XML    350K 
12: EX-101.DEF  XBRL Definitions -- cit-20180331_def                 XML   1.78M 
13: EX-101.LAB  XBRL Labels -- cit-20180331_lab                      XML   2.82M 
14: EX-101.PRE  XBRL Presentations -- cit-20180331_pre               XML   2.11M 
10: EX-101.SCH  XBRL Schema -- cit-20180331                          XSD    292K 
112: ZIP         XBRL Zipped Folder -- 0001628280-18-005979-xbrl      Zip    563K  


‘EX-12.1’   —   Statement re: Computation of Ratios


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  Exhibit  



EXHIBIT 12.1

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





Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:5/4/18
For Period end:3/31/18
12/31/1710-K
3/31/1710-Q,  8-K
 List all Filings 


6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/05/21  Cit Group Inc.                    10-Q        9/30/21  110:47M                                    ActiveDisclosure/FA
 7/30/21  Cit Group Inc.                    10-Q        6/30/21  111:47M                                    ActiveDisclosure/FA
 4/30/21  Cit Group Inc.                    10-Q        3/31/21  111:42M                                    ActiveDisclosure/FA
 4/30/21  Cit Group Inc.                    10-K/A     12/31/20   14:1.6M                                   Donnelley … Solutions/FA
 2/19/21  Cit Group Inc.                    10-K       12/31/20  214:68M                                    ActiveDisclosure/FA
10/30/20  Cit Group Inc.                    10-Q        9/30/20  146:52M                                    ActiveDisclosure/FA
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Filing Submission 0001628280-18-005979   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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