XML 120 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
    EARNINGS PER SHARE
The following is a reconciliation of the income and share data used in the basic and diluted earnings per share (EPS) computations for the three and nine months ended September 30:
 
Three Months Ended 
 September 30,
Nine Months Ended September 30,
In millions, except per-share amounts
2014
2013
2014
2013
Income from continuing operations before attribution of noncontrolling interests
$
2,914

$
3,186

$
7,118

$
11,305

Less: Noncontrolling interests from continuing operations
59

51

154

177

Net income from continuing operations (for EPS purposes)
$
2,855

$
3,135

$
6,964

$
11,128

Income (loss) from discontinued operations, net of taxes
(16
)
92

(1
)
89

Citigroup's net income
$
2,839

$
3,227

$
6,963

$
11,217

Less: Preferred dividends(1)
128

110

352

123

Net income available to common shareholders
$
2,711

$
3,117

$
6,611

$
11,094

Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with nonforfeitable rights to dividends, applicable to basic EPS
44

61

108

217

Net income allocated to common shareholders for basic EPS
$
2,667

$
3,056

$
6,503

$
10,877

Add: Interest expense, net of tax, and dividends on convertible securities and adjustment of undistributed earnings allocated to employee restricted and deferred shares with nonforfeitable rights to dividends, applicable to diluted EPS
—

—

—

2

Net income allocated to common shareholders for diluted EPS
$
2,667

$
3,056

$
6,503

$
10,879

Weighted-average common shares outstanding applicable to basic EPS
3,029.5

3,034.3

3,033.5

3,038.4

Effect of dilutive securities
 
 
 

 
Options(2)
5.1

6.1

5.0

5.0

Other employee plans
0.2

0.5

0.3

0.5

Convertible securities(3)
—

—

—

0.1

Adjusted weighted-average common shares outstanding applicable to diluted EPS
3,034.8

3,040.9

3,038.8

3,044.0

Basic earnings per share(4)
 
 
 

  
Income from continuing operations
$
0.89

$
0.98

$
2.14

$
3.55

Discontinued operations
(0.01
)
0.03

—

0.03

Net income
$
0.88

$
1.01

$
2.14

$
3.58

Diluted earnings per share(4)
 
 
 
  
Income from continuing operations
$
0.88

$
0.98

$
2.14

$
3.55

Discontinued operations
(0.01
)
0.03

—

0.03

Net income
$
0.88

$
1.00

$
2.14

$
3.57

(1)
See Note 19 to the Consolidated Financial Statements for the potential future impact of preferred stock dividends.
(2)
During the third quarters of 2014 and 2013, weighted-average options to purchase 1.9 million and 1.5 million shares of common stock, respectively, were outstanding but not included in the computation of earnings per share because the weighted-average exercise prices of $157.90 and $214.30, respectively, were anti-dilutive.
(3)
Warrants issued to the U.S. Treasury as part of the Troubled Asset Relief Program (TARP) and the loss-sharing agreement (all of which were subsequently sold to the public in January 2011), with an exercise price of $178.50 and $106.10 for approximately 21.0 million and 25.5 million shares of Citigroup common stock, respectively, were not included in the computation of earnings per share in the third quarters of 2014 and 2013 because they were anti-dilutive.
(4)
Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.