CIT Group (CIT Group) Interest Expense : $-469 Mil (TTM As of Sep. 2021)

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What is CIT Group Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. CIT Group's interest expense for the three months ended in Sep. 2021 was $ -103 Mil. Its interest expense for the trailing twelve months (TTM) ended in Sep. 2021 was $-469 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. CIT Group's Operating Income for the three months ended in Sep. 2021 was $ Mil. CIT Group's Interest Expense for the three months ended in Sep. 2021 was $ Mil. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

CIT Group Interest Expense Historical Data

The historical data trend for CIT Group's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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CIT Group Interest Expense Chart

CIT Group Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Interest Expense

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-753.20

-717.70

-815.10

-952.00

-733.30

CIT Group Quarterly Data
	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21
Interest Expense	Get a 7-Day Free Trial															-165.50	-139.60	-119.60	-106.80	-103.00

CIT Group Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Sep. 2021 adds up the quarterly data reported by the company within the most recent 12 months, which was $-469 Mil.

CIT Group (CIT Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » CIT Group Inc (NYSE:CIT) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

N/A

Address

11 West 42nd Street, New York, NY, USA, 10036

Website

http://www.cit.com

CIT Group Inc is a banking holding company and a financial holding company operating primarily in North America. It provides financing, leasing, and advisory services primarily to middle-market companies in a diverse group of industries. The company's banking subsidiary mostly operates in Southern California and offers both commercial and retail banking services. The company sources its commercial lending business through direct marketing to customers, vendors, and distributors, among other parties. The company generates revenue by earning interest on loans and investments, as well as commission, fees, and rental income on leased equipment and other financial services. The company also syndicates and sells finance receivables.

Executives

John J. Fawcett	officer: EVP and Chief Financial Office	C/O CIT GROUP INC., 1 CIT DRIVE, LIVINGSTON NJ 07039
Wahida Plummer	officer: EVP & Chief Risk Officer	C/O CIT GROUP INC. 1 CIT DRIVE, #3251-9 LIVINGSTON NJ 07039
Marisa Harney	officer: EVP & Chief Credit Officer	C/O CIT GROUP INC., 1 CIT DRIVE, #3251-9, LIVINGSTON NJ 07039
Steve Solk	officer: President, Consumer Banking	C/O CIT GROUP INC., ATTN GENERAL COUNSEL 1 CIT DRIVE LIVINGSTON NJ 07039
Sheila A Stamps	director	C/O CIT GROUP, 1 CIT DRIVE, ATTN: GENERAL COUNSEL, LIVINGSTON NJ 07039
Michael L. Brosnan	director	C/O CIT GROUP INC. - GENERAL COUNSEL 1 CIT DRIVE LIVINGSTON NJ 07039
Gina M. Proia	officer: EVP & Head of Marketing	C/O CIT GROUP INC., ATTN GENERAL COUNSEL 1 CIT DRIVE LIVINGSTON NJ 07039
Denise M. Menelly	officer: EVP, Head of Technology & Ops	C/O CIT GROUP INC., 1 CIT DRIVE LIVINGSTON NJ 07039
Edward K Sperling	officer: EVP & Controller	C/O CIT GROUP, 1 CIT DRIVE, #3251-9 LIVINGSTON NJ 07039
Ellen R Alemany	director, officer: Chair & CEO	ONE ADP BOULEVARD, ROSELAND NJ 07068
James J Duffy	officer: EVP & Chief HR Officer	C/O CIT GROUP, 11 WEST 42ND ST. NEW YORK NY 10036
Gerald Rosenfeld	director	C/O CIT GROUP INC., 1 CIT DRIVE, #3251-9, LIVINGSTON NJ 07039
David Harnisch	officer: Pres., Commercial Finance	C/O CIT GROUP, 1 CIT DRIVE LIVINGSTON NJ 07039
Alan L Frank	director	C/O CIT GROUP, 1 CIT DRIVE, #3251-9 LIVINGSTON NJ 07039
John R Ryan	director