CIT GROUP INC. CIT Income Statement

Cit group inc. (CIT)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Interest income
Interest and fees on loans
467,600	428,200	446,800	457,000	451,300	438,000	417,400	415,500	400,900	401,200	403,500	421,300	412,100	436,300	443,800	447,600	451,900	462,100	395,100	260,600	256,200	225,400	299,900	301,400	293,400	298,600	299,600	312,000	316,100	173,500	367,500	402,300	418,500	221,600	494,200	591,000	630,400	742,500	830,900	1,016,500	1,097,400	549,600	606,500
Other interest and dividends
46,000	53,200	56,600	58,500	65,200	54,000	56,200	58,100	50,300	46,500	50,500	56,900	43,600	37,900	31,900	31,100	31,000	30,300	23,400	8,900	8,600	9,900	8,400	8,400	8,800	8,600	6,800	7,100	6,400	8,400	8,000	8,000	7,800	9,100	8,600	8,600	8,400	9,900	7,200	7,300	7,300	7,000	8,000
Interest income
513,600	481,400	503,400	515,500	516,500	492,000	473,600	473,600	451,200	447,700	454,000	478,200	455,700	474,200	475,700	478,700	482,900	492,400	418,500	269,500	264,800	235,300	308,300	309,800	302,200	307,200	306,400	319,100	322,500	181,900	375,500	410,300	426,300	230,700	502,800	599,600	638,800	752,400	838,100	1,023,800	1,104,700	556,600	614,500
Interest expense
Interest on deposits
156,600	163,400	173,800	173,900	153,800	129,600	123,100	110,600	97,100	92,100	92,600	94,600	94,000	96,500	99,400	99,400	99,500	99,200	89,700	72,200	69,000	63,800	59,200	56,100	51,900	48,400	44,300	44,800	42,300	42,500	38,400	35,300	36,300	33,300	28,400	25,100	24,400	24,600	23,700	18,300	20,800	45,800	-37,400
Interest on borrowings
69,100	66,400	70,100	68,800	81,800	85,900	90,800	94,600	83,400	76,600	84,100	114,600	69,100	81,900	88,800	92,200	95,500	98,400	103,600	96,600	102,700	-158,000	216,000	206,100	220,000	219,100	212,400	217,800	231,800	92,400	777,600	598,900	1,044,300	362,800	574,700	781,300	674,200	682,100	710,400	789,200	810,600	648,000	-596,200
Interest expense
225,700	229,800	243,900	242,700	235,600	215,500	213,900	205,200	180,500	168,700	176,700	209,200	163,100	178,400	188,200	191,600	195,000	197,600	193,300	168,800	171,700	-94,200	275,200	262,200	271,900	267,500	256,700	262,600	274,100	134,900	816,000	634,200	1,080,600	396,100	603,100	806,400	698,600	706,700	734,100	807,500	831,400	693,800	-633,600
Net interest revenue
287,900	251,600	259,500	272,800	280,900	276,500	259,700	268,400	270,700	279,000	277,300	269,000	292,600	295,800	287,500	287,100	287,900	294,800	225,200	100,700	93,100	329,500	33,100	47,600	30,300	39,700	49,700	56,500	48,400	47,000	-440,500	-223,900	-654,300	-165,400	-100,300	-206,800	-59,800	45,700	104,000	216,300	273,300	-137,200	-19,100
Provision for credit losses
513,900	22,600	26,600	28,600	33,000	31,200	38,100	32,900	68,800	30,400	30,100	4,400	49,700	36,800	45,100	23,300	89,500	59,200	50,300	18,700	30,400	19,300	38,200	10,200	36,700	14,400	16,400	14,600	19,500	-100	0	8,900	42,600	15,800	47,400	84,100	122,400	182,400	165,100	246,700	226,100	701,800	588,500
Net interest revenue, after credit provision
-226,000	229,000	232,900	244,200	247,900	245,300	221,600	235,500	201,900	248,600	247,200	264,600	242,900	259,000	242,400	263,800	198,400	235,600	174,900	82,000	62,700	310,200	-5,100	37,400	-6,400	25,300	33,300	41,900	28,900	47,100	-440,500	-232,800	-696,900	-181,200	-147,700	-290,900	-182,200	-136,700	-61,100	-30,400	47,200	-839,000	-607,600
Non-interest income
Rental income on operating leases
209,800	215,300	211,700	213,000	217,700	229,800	264,300	261,300	253,600	252,600	252,300	251,200	251,300	252,200	254,300	261,000	264,100	255,900	259,500	255,100	247,600	-596,900	535,000	519,600	491,900	463,800	472,900	484,300	476,400	568,200	445,800	446,200	440,600	547,500	409,000	420,200	408,900	407,000	397,700	417,900	425,800	471,700	473,500
Other non-interest income
130,600	111,300	101,000	106,100	96,800	47,500	86,200	135,400	104,700	137,200	63,300	84,600	79,100	-117,600	83,600	99,800	84,800	21,700	24,900	51,200	51,800	74,900	24,200	93,700	71,100	127,600	104,500	79,200	70,000	133,300	86,700	139,400	255,300	207,600	242,800	233,400	270,400	226,500	289,500	338,500	150,400	-166,800	-198,800
Total non-interest income
340,400	326,600	312,700	319,100	314,500	277,300	350,500	396,700	358,300	389,800	315,600	335,800	330,400	134,600	337,900	360,800	348,900	277,600	284,400	306,300	299,400	-522,000	559,200	613,300	563,000	591,400	577,400	563,500	546,400	701,500	532,500	585,600	695,900	755,100	651,800	653,600	679,300	633,500	687,200	756,400	576,200	304,900	274,700
Total revenue, net of interest expense and credit provision
114,400	555,600	545,600	563,300	562,400	522,600	572,100	632,200	560,200	638,400	562,800	600,400	573,300	393,600	580,300	624,600	547,300	513,200	459,300	388,300	362,100	-211,800	554,100	650,700	556,600	616,700	610,700	605,400	575,300	748,600	92,000	352,800	-1,000	573,900	504,100	362,700	497,100	496,800	626,100	726,000	623,400	-534,100	-332,900
Non-interest expenses
Depreciation on operating lease equipment
78,300	76,400	76,000	76,800	79,400	79,500	78,000	77,200	76,400	74,300	71,100	77,400	73,500	69,800	66,900	63,100	61,300	57,200	58,800	57,600	55,600	-232,700	156,400	157,300	148,800	139,500	134,200	133,600	133,300	110,300	134,500	130,800	137,600	100,900	124,300	153,200	160,200	163,300	161,700	178,100	172,700	282,600	-286,600
Maintenance and other operating lease expenses
53,600	40,700	41,900	48,300	49,800	52,900	56,600	63,500	57,400	57,900	57,900	53,300	53,800	57,500	56,600	50,600	48,900	53,900	49,000	42,600	39,600	24,600	46,500	49,000	51,600	39,000	41,400	40,300	42,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating expenses
334,400	258,500	310,800	267,800	276,100	257,900	263,300	267,500	281,300	304,000	277,300	295,600	311,600	341,200	302,900	309,300	330,100	351,800	327,500	219,200	222,600	207,100	234,500	225,000	233,500	284,400	228,800	226,100	230,900	207,700	235,200	226,800	224,300	190,900	226,400	238,500	204,900	256,800	228,800	277,800	261,700	249,700	-293,900
Goodwill impairment
344,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt extinguishment and deposit redemption
-	-100	-100	-200	-100	-15,700	-3,500	-19,300	-100	-1,700	-53,500	-164,800	0	-8,100	-5,200	2,400	-1,600	-1,100	-300	-100	-	-	-	-400	-	-	-	-	-	0	-16,800	-21,500	-22,900	-	-146,600	-	-	-	-	-	-	-	-
Goodwill and intangible assets impairment charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-692,400
Total non-interest expenses
811,000	375,700	428,800	393,100	405,400	406,000	401,400	427,500	415,200	693,500	459,800	591,100	438,900	826,000	431,600	425,400	441,900	464,000	435,600	319,500	317,800	2,100	437,400	431,700	433,900	462,900	404,400	400,000	406,600	457,400	386,500	379,100	384,800	437,800	497,300	391,700	365,100	420,100	390,500	455,900	434,400	532,300	-1,272,900
(Loss) income from continuing operations before (benefit) provision for income taxes
-696,600	179,900	116,800	170,200	157,000	116,600	170,700	204,700	145,000	-55,100	103,000	9,300	134,400	-432,400	148,700	199,200	105,400	49,200	23,700	68,800	44,300	-213,900	116,700	219,000	122,700	153,800	206,300	205,400	168,700	291,200	-294,500	-26,300	-385,800	136,100	6,800	-29,000	132,000	76,700	235,600	270,100	189,000	-1,066,400	-1,605,800
(Benefit) provision for income taxes
-72,300	49,300	-26,000	33,400	37,800	24,900	41,300	57,400	41,300	27,700	-119,800	-31,900	56,200	-6,600	54,500	111,200	44,400	-15,800	-581,900	36,900	22,800	-62,800	-401,200	18,100	13,500	28,600	13,200	29,300	12,800	27,100	3,900	45,400	40,300	33,200	40,200	21,400	62,200	-3,200	117,300	88,200	43,400	-33,100	-12,700
Income (loss) from continuing operations before attribution of noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	65,000	605,600	31,900	21,500	-	517,900	200,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss attributable to noncontrolling interests, after tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-100	-1,300	2,500	5,700	-5,700	2,200	200	500	3,000	800	800	1,200	900	2,100	-600	-700	4,200	600	2,500	300	1,000	-	700
Net income before attribution of noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	118,300	181,900	145,600	-1,074,500	-
Preferred stock dividends and amortization of discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	41,200	-
(Loss) income from continuing operations
-624,300	130,600	142,800	136,800	119,200	91,700	129,400	147,300	103,700	-82,800	222,800	41,200	78,200	-425,800	94,200	88,000	61,000	65,000	605,600	31,900	21,600	-149,800	515,400	195,200	114,900	123,000	192,900	175,600	152,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued operations
Income (loss) from discontinued operations, net of taxes
-	-	-	-	-	-	2,100	-	-	-5,200	-1,900	8,300	89,000	-716,700	37,300	-71,000	85,000	75,000	72,000	81,900	81,100	-	500	231,100	-	6,900	6,700	8,000	9,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on sale of discontinued operations, net of taxes
-	-	-	-	-	-	-	-	-	0	-1,300	107,200	12,700	-	0	0	-	-	-	-	-	-	-	282,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations, net of taxes
-	0	0	800	-300	100	2,100	-20,500	-6,700	-5,200	-3,200	115,500	101,700	-716,700	37,300	-71,000	85,000	-	-	-	-	389,900	-500	51,700	2,300	6,900	6,700	8,000	9,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (loss) income
-624,300	130,600	142,800	137,600	118,900	91,800	131,500	126,800	97,000	-88,000	219,600	156,700	179,900	-1,142,500	131,500	17,000	146,000	140,000	677,600	113,800	102,700	248,100	514,900	246,900	109,200	150,600	193,100	176,100	155,900	264,100	-298,400	-71,700	-426,100	102,900	-33,400	-50,400	69,800	-	-	-	-	-1,033,300	-1,618,500
Preferred stock dividends
3,800	-	-	9,400	-	-	-	9,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-61,600
Net Income (loss) before preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,617,800
Net (loss) income available to common shareholders
-628,100	121,100	142,800	128,200	118,900	82,300	131,500	117,400	97,000	-	219,600	156,700	-	-	-	-	-	-	-	-	-	-	-	-	117,200	-	199,600	183,600	162,600	206,800	-299,200	-72,900	-427,000	31,700	-32,800	-49,700	65,600	79,300	115,800	181,600	144,600	-1,074,500	-1,679,400
(Loss) income from continuing operations available to common shareholders
-628,100	121,100	142,800	127,400	119,200	82,200	129,400	137,900	103,700	-	222,800	41,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic (loss) income per common share
(Loss) income from continuing operations
-6.40	1.27	1.51	1.32	1.19	0.79	1.15	1.12	0.79	-0.74	1.66	0.23	0.39	-	0.47	0.43	0.30	0.33	3.18	0.18	0.12	-0.81	2.78	1.03	0.59	0.62	0.96	0.87	0.76	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations
-	0.00	0.01	0.01	-0.01	-0.01	0.02	-0.17	-0.05	0.17	-0.02	0.63	0.50	-	0.18	-0.35	0.42	0.37	0.38	0.47	0.46	2.07	0.00	0.27	0.01	0.04	0.03	0.04	0.05	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic (loss) income per share
-6.40	1.28	1.51	1.33	1.18	0.78	1.17	0.95	0.74	-0.57	1.64	0.86	0.89	-	0.65	0.08	0.72	0.70	3.56	0.65	0.58	1.26	2.78	1.30	0.60	0.66	0.99	0.91	0.81	1.03	-1.49	-0.36	-2.13	0.15	-0.16	-0.25	0.33	0.39	0.58	0.91	0.72	-2.74	-4.30
Diluted (loss) income per common share
(Loss) income from continuing operations
-6.40	1.27	1.50	1.32	1.18	0.79	1.13	1.11	0.79	-0.72	1.64	0.22	0.38	-	0.47	0.43	0.30	0.33	3.15	0.18	0.12	-0.79	2.76	1.02	0.58	0.60	0.96	0.87	0.76	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from discontinued operations
0.00	-	0.00	0.01	0.00	-0.01	0.02	-0.17	-0.05	0.18	-0.03	0.63	0.50	-	0.18	-0.35	0.42	0.37	0.38	0.47	0.46	2.06	0.00	0.27	0.01	0.04	0.03	0.04	0.05	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (loss) income per share
-6.40	1.26	1.50	1.33	1.18	0.78	1.15	0.94	0.74	-0.54	1.61	0.85	0.88	-	0.65	0.08	0.72	0.70	3.53	0.65	0.58	1.27	2.76	1.29	0.59	0.64	0.99	0.91	0.81	1.03	-1.49	-0.36	-2.13	0.15	-0.16	-0.25	0.33	0.39	0.58	0.91	0.72	-2.74	-4.30
Average number of common shares (thousands)
Basic
98,089	94,687	94,732	96,173	100,420	103,788	112,842	123,499	130,483	130,448	133,916	182,347	202,449	202,077	202,036	201,893	201,394	200,987	190,557	173,785	176,260	182,454	185,190	190,231	196,089	198,739	200,811	201,313	201,149	200,918	200,917	200,901	200,812	200,735	200,714	200,658	200,605	200,366	200,323	200,075	200,040	392,195,000	390
Average number of common shares - basic (thousands)
98,089	94,687	94,732	96,173	100,420	103,788	112,842	123,499	130,483	130,448	133,916	182,347	202,449	-	202,036	201,893	-	-	-	-	-	-	-	-	-	-	200,811	201,313	201,149	-	200,917	200,901	200,812	200,735	200,714	200,658	200,605	200,366	200,323	200,075	200,040	392,195,000	390
Diluted
98,089	95,087	95,018	96,483	101,096	104,827	114,007	124,686	131,588	132,530	136,126	183,796	203,348	200,234	202,755	202,275	202,136	201,376	191,803	174,876	177,072	183,439	186,289	191,077	197,047	200,359	202,329	202,313	201,779	200,918	200,917	200,901	200,812	200,955	200,714	200,658	200,933	200,912	200,668	200,644	200,076	392,195,000	390
Dividends declared per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.15	0.15	0.15	-	0.15	0.15	0.15	-	-	-	-	0.00	0.15	0.10	0.10	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00