Table of Contents
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
August 5,
2015 |
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CIT
GROUP INC. |
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/s/ Scott T. Parker |
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Scott T. Parker |
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Executive Vice President and Chief Financial Officer |
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/s/ E. Carol Hayles |
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E.
Carol Hayles |
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Executive Vice President and Controller |
95
CIT Group Inc. and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (dollars in
millions)
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At or For the Quarters Ended
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Six Months Ended |
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June 30, |
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March 31, |
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June 30, |
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June 30,
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2015
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2015
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2014
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2015
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2014
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Earnings: |
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Net
income |
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$ |
115.3 |
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$ |
103.7 |
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$ |
246.9 |
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$ |
219.0 |
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$ |
364.1 |
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Provision
for income taxes continuing operations |
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37.8 |
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44.0 |
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18.1 |
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81.8 |
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31.6 |
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(Income)
from discontinued operation, net of taxes |
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(51.7 |
) |
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(54.0 |
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Income
from continuing operations, before provision for income taxes and noncontrolling interests |
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153.1 |
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147.7 |
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213.3 |
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300.8 |
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341.7 |
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Fixed
Charges: |
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Interest and
debt expenses on indebtedness |
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265.2 |
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271.3 |
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262.2 |
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536.5 |
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534.1 |
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Interest
factor: one-third of rentals on real and personal properties |
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2.0 |
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1.8 |
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1.6 |
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3.8 |
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3.5 |
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Total fixed
charges for computation of ratio |
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267.2 |
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273.1 |
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263.8 |
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540.3 |
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537.6 |
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Total earnings
before provision for income taxes and fixed charges |
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$ |
420.3 |
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$ |
420.8 |
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$ |
477.1 |
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$ |
841.1 |
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$ |
879.3 |
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Ratios of
earnings to fixed charges |
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1.57 |
x |
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1.54 |
x |
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1.81 |
x |
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1.56 |
x |
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1.64 |
x |
I, John A. Thain, certify that:
1. I have reviewed this
quarterly report on Form 10-Q of CIT Group Inc.;
2. Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light
of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge,
the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition,
results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrants
other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:
(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;
(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be
designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles;
(c) evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our
conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such
evaluation; and
(d) disclosed in this report any change in the registrants internal control over financial reporting that occurred during the
registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially
affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants
other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the
registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent
functions):
(a) all
significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the registrants ability to record, process, summarize and report financial information; and
(b) any
fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over
financial reporting.
Date: August 5, 2015
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/s/ John A. Thain |
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John A. Thain Chairman and Chief Executive Officer CIT Group Inc. |
I, Scott T. Parker, certify that:
1. I have reviewed this quarterly
report on Form 10-Q of CIT Group Inc.;
2. Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light
of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge,
the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition,
results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrants
other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:
(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;
(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be
designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles;
(c) evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our
conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such
evaluation; and
(d) disclosed in this report any change in the registrants internal control over financial reporting that occurred during the
registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual report) that has materially
affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants
other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the
registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent
functions):
(a) all
significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the registrants ability to record, process, summarize and report financial information; and
(b) any
fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over
financial reporting.
Date: August 5, 2015
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/s/ Scott T. Parker |
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Scott T. Parker Executive Vice President and Chief Financial Officer CIT Group Inc. |
Certification Pursuant to Section 18 U.S.C. Section 1350,
As Adopted Pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002
In connection with the
Quarterly Report of CIT Group Inc. (CIT) on Form 10-Q for the quarter ended June 30, 2015, as filed with the Securities and Exchange
Commission on the date hereof (the Report), I, John A. Thain, the Chief Executive Officer of CIT, certify, pursuant to 18 U.S.C. ss.1350,
as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that;
(i) The
Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and
(ii) The
information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of
CIT.
Dated: August 5, 2015
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/s/ John A. Thain |
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John A. Thain Chairman and Chief Executive Officer CIT Group Inc. |
The foregoing certification is being furnished solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Report or as a
separate disclosure document.
Certification Pursuant to Section 18 U.S.C. Section 1350,
As Adopted Pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002
In connection with the
Quarterly Report of CIT Group Inc. (CIT) on Form 10-Q for the quarter ended June 30, 2015, as filed with the Securities and Exchange
Commission on the date hereof (the Report), I, Scott T. Parker, the Chief Financial Officer of CIT, certify, pursuant to 18 U.S.C. ss.1350,
as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that;
(i) The
Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and
(ii) The
information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of
CIT.
Dated: August 5, 2015
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/s/ Scott T. Parker |
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Scott T. Parker Executive Vice President and Chief Financial Officer CIT Group Inc. |
The foregoing certification is being furnished solely pursuant to
18 U.S.C. § 1350 and is not being filed as part of the Report or as a separate disclosure document.
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