cit 10QTypesetFinal

This document is CIT Group's quarterly report filed with the SEC for the quarter ended March 31, 2008. It includes CIT's consolidated balance sheet, income statement, statement of stockholders' equity, and cash flow statement for the quarter. The report shows that CIT had a net loss of $257 million for the quarter due to a $464 million provision for credit losses and $148 million in debt extinguishment costs, compared to net income of $201 million in the prior year quarter. Total assets increased to $95.7 billion from $90.6 billion at year-end 2007.