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Income Statement
Balance Sheet
Cash Flow Statement
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Common Size IS
Op Efficiency
Credit Analysis

CIT GROUP INC (CIT)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15Dec-31-14Dec-31-13
   10-K10-K10-K10-K10-K10-K10-K10-K
    Interest income:  
        Interest income on loans  1,667.81,783.31,671.81,638.11,779.61,374.01,120.11,226.3
        Interest income on investments  131.2233.5218.6197.5131.971.235.528.9
       1,799.02,016.81,890.41,835.61,911.51,445.21,155.61,255.2
    Interest expense:  
        Interest on deposits  475.8664.9460.4373.3394.8330.1-231.0-179.8
       733.3952.0815.1717.7753.2731.4-715.1-1,060.9
Net interest income  1,065.71,064.81,075.31,117.91,158.3713.8440.5194.3
Provision for loan losses     114.6194.7158.6-104.4-64.9
Net interest income after provision for loan losses  1,065.71,064.81,075.31,003.3963.6555.2544.9259.2
Total non-interest income  1,351.41,272.91,382.81,371.61,182.21,167.71,213.52,278.7
Non-interest expenses  2,320.21,603.01,650.12,183.32,124.91,536.9-1,305.1-1,673.9
Equity in earnings          
Asset impairment  485.1  255.6354.2   
Pre-tax income  -703.4623.9637.0191.620.9186.0244.5734.2
Income taxes  -88.194.5164.9-67.8203.5-538.0-432.483.9
            Tax rate  12.5%15.1%25.9% 973.7%  11.4%
Earnings from continuing ops  -646.4511.0444.5339.8-848.01,034.1233.5650.3
Earnings from discontinued ops   0.0-16.3118.6  443.4 
Net income  -646.4511.0428.2458.4-848.01,034.1676.9650.3
            Net margin  -40.0%22.9%18.7%19.3%-39.5%60.0%38.5%25.6%
   
Basic EPS  ($6.57)$5.30$3.78$2.09($4.20)$5.57$1.24$3.24
Diluted EPS  ($6.57)$5.27$3.74$2.07($4.20)$5.55$1.23$3.22
   
Shares outstanding (basic)  98.496.5117.7162.3201.9185.5188.5200.5
Shares outstanding (diluted)  98.496.9118.8164.0201.9186.4189.5201.7
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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