CIT GROUP INC Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1 CIT DRIVE LIVINGSTON, NJ 07039 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6021 - National Commercial Banks (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 9/30/2021 Q3 | 6/30/2021 Q2 | 3/31/2021 Q1 | 12/31/2020 Q4 | 9/30/2020 Q3 | 6/30/2020 Q2 | 3/31/2020 Q1 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 5,134,100 | 5,191,000 | 6,529,900 | 7,898,700 | 3,477,800 | ||||
| Cash and cash equivalents | 5,134,100 | 5,191,000 | 6,529,900 | 7,898,700 | 3,477,800 | ||||
| Total current assets: | 5,134,100 | 5,191,000 | 6,529,900 | 7,898,700 | 3,477,800 | ||||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 259,300 | 193,500 | 220,700 | 228,500 | 232,400 | ||||
| Intangible assets, net (including goodwill) | 283,800 | 298,600 | 306,900 | ||||||
| Goodwill | 140,400 | 146,800 | 146,800 | ||||||
| Intangible assets, net (excluding goodwill) | 143,400 | 151,800 | 160,100 | ||||||
| Total noncurrent assets: | 259,300 | 193,500 | 504,500 | 527,100 | 539,300 | ||||
| Other undisclosed assets | 49,310,300 | 50,664,600 | 53,830,600 | 53,276,600 | 54,919,600 | ||||
| TOTAL ASSETS: | 54,703,700 | 56,049,100 | 60,865,000 | 61,702,400 | 58,936,700 | ||||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 48,667,900 | 50,233,400 | 55,101,000 | 55,963,100 | 53,075,900 | ||||
| Total liabilities: | 48,667,900 | 50,233,400 | 55,101,000 | 55,963,100 | 53,075,900 | ||||
| Equity | |||||||||
| Equity, attributable to parent | 6,035,800 | 5,815,700 | 5,764,000 | 5,739,300 | 5,860,800 | ||||
| Preferred stock | 525,000 | 525,000 | 525,000 | 525,000 | 525,000 | ||||
| Common stock | 1,600 | 1,600 | 1,600 | 1,600 | 1,600 | ||||
| Treasury stock, value | (3,171,600) | (3,171,500) | (3,158,200) | (3,158,000) | (3,158,000) | ||||
| Additional paid in capital | 6,922,500 | 6,914,300 | 6,882,100 | 6,885,500 | 6,873,300 | ||||
| Accumulated other comprehensive income (loss) | (115,400) | (148,200) | 46,400 | 65,800 | 66,800 | ||||
| Retained earnings | 1,873,700 | 1,694,500 | 1,467,100 | 1,419,400 | 1,552,100 | ||||
| Total equity: | 6,035,800 | 5,815,700 | 5,764,000 | 5,739,300 | 5,860,800 | ||||
| TOTAL LIABILITIES AND EQUITY: | 54,703,700 | 56,049,100 | 60,865,000 | 61,702,400 | 58,936,700 | ||||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 9/30/2021 Q3 | 6/30/2021 Q2 | 3/31/2021 Q1 | 12/31/2020 Q4 | 9/30/2020 Q3 | 6/30/2020 Q2 | 3/31/2020 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 355,700 | 364,000 | (1,280,600) | 395,800 | 417,200 | 467,600 | ||
| Net investment income | 355,700 | 364,000 | 395,800 | 417,200 | 467,600 | |||
| Cost of revenue | (111,900) | (279,700) | (567,500) | |||||
| Cost of goods and services sold | (48,600) | (56,100) | (53,600) | |||||
| Provision for loan, lease, and other losses | (63,300) | (223,600) | (513,900) | |||||
| Gross profit: | 355,700 | 364,000 | 283,900 | 137,500 | (99,900) | |||
| Other operating income, net (Noninterest Income, Other Operating Income) | 160,700 | 229,900 | 146,000 | 102,600 | 130,600 | |||
| Operating income: | 516,400 | 593,900 | 429,900 | 240,100 | 30,700 | |||
| Interest and debt expense | (106,800) | (119,700) | (165,500) | (187,700) | (225,700) | |||
| Income (loss) from continuing operations before equity method investments, income taxes: | 409,600 | 474,200 | 264,400 | 52,400 | (195,000) | |||
| Other undisclosed loss from continuing operations before income taxes | (111,000) | (74,100) | (149,200) | (210,900) | (501,600) | |||
| Income (loss) from continuing operations before income taxes: | 298,600 | 400,100 | 115,200 | (158,500) | (696,600) | |||
| Income tax expense (benefit) | (71,700) | (96,300) | (29,500) | 73,200 | 72,300 | |||
| Income (loss) from continuing operations: | 226,900 | 303,800 | 85,700 | (85,300) | (624,300) | |||
| Income (loss) before gain (loss) on sale of properties: | 226,900 | 303,800 | ✕ | 85,700 | (85,300) | (624,300) | ||
| Net income (loss) attributable to parent: | 226,900 | 303,800 | 85,700 | (85,300) | (624,300) | |||
| Preferred stock dividends and other adjustments | (12,300) | (2,800) | (2,800) | (12,300) | (3,800) | |||
| Net income (loss) available to common stockholders, diluted: | 214,600 | 301,000 | 82,900 | (97,600) | (628,100) | |||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 9/30/2021 Q3 | 6/30/2021 Q2 | 3/31/2021 Q1 | 12/31/2020 Q4 | 9/30/2020 Q3 | 6/30/2020 Q2 | 3/31/2020 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 226,900 | 303,800 | 85,700 | (85,300) | (624,300) | |||
| Other comprehensive income (loss) | 32,800 | (183,900) | (19,400) | (1,000) | 118,900 | |||
| Comprehensive income (loss), net of tax, attributable to parent: | 259,700 | 119,900 | 66,300 | (86,300) | (505,400) | |||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.