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CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Interest revenue [1] $ 14,873 $ 15,561 $ 29,473 $ 30,911
Interest expense [1] 3,051 3,615 6,079 7,206
Net interest revenue [1] 11,822 11,946 23,394 23,705
Commissions and fees [1] 3,194 3,441 6,364 6,625
Principal transactions [1] 2,173 1,843 4,144 4,731
Administration and other fiduciary fees [1] 995 1,029 1,957 2,038
Realized gains on sales of investments, net [1] 183 84 490 212
Other-than-temporary impairment losses on investments        
Gross impairment losses [1] (43) (37) (115) (238)
Less: Impairments recognized in AOCI [1] 0 0 0 0
Net impairment (losses) recognized in earnings [1] (43) (37) (115) (238)
Insurance premiums [1] 482 538 979 1,083
Other revenue [1] 664 581 1,993 1,475
Total non-interest revenues [1] 7,648 7,479 15,812 15,926
Total revenues, net of interest expense [1] 19,470 19,425 39,206 39,631
Provisions for credit losses and for benefits and claims        
Provision for loan losses 1,515 1,579 3,270 3,372
Policyholder benefits and claims 181 182 378 390
Provision (release) for unfunded lending commitments (48) (31) (85) (58)
Total provisions for credit losses and for benefits and claims 1,648 1,730 3,563 3,704
Operating expenses        
Compensation and benefits [1] 5,483 6,028 11,003 12,038
Premises and equipment [1] 737 819 1,446 1,624
Technology/communication [1] 1,656 1,619 3,256 3,149
Advertising and marketing [1] 393 460 785 918
Other operating [1] 2,659 6,595 5,322 9,941
Total operating expenses [1] 10,928 15,521 21,812 27,670
Income from continuing operations before income taxes 6,894 2,174 13,831 8,257
Provision for income taxes 2,036 1,921 4,156 4,052
Income from continuing operations 4,858 253 9,675 4,205
Discontinued operations        
Income (loss) from discontinued operations 9 (3) 1 37
Provision for income taxes 3 19 0 22
Income (loss) from discontinued operations, net of taxes 6 (22) 1 15
Net income before attribution of noncontrolling interests 4,864 231 9,676 4,220
Noncontrolling interests 18 50 60 95
Citigroup’s net income $ 4,846 $ 181 $ 9,616 $ 4,125
Basic earnings per share        
Income from continuing operations (in dollars per share) [2] $ 1.51 $ 0.03 $ 3.03 $ 1.26
Income (loss) from discontinued operations, net of taxes (in dollars per share) [2] 0.00 (0.01) 0.00 0.00
Net income (in dollars per share) [2] $ 1.52 $ 0.03 $ 3.03 $ 1.26
Weighted average common shares outstanding (in shares) 3,020.0 3,033.8 3,027.1 3,035.6
Diluted earnings per share        
Income from continuing operations (in dollars per share) [2] $ 1.51 $ 0.03 $ 3.02 $ 1.26
Income (loss) from discontinued operations, net of taxes (in dollars per share) [2] 0.00 (0.01) 0.00 0.00
Net income (in dollars per share) [2] $ 1.51 $ 0.03 $ 3.02 $ 1.26
Adjusted weighted average common shares outstanding (in shares) 3,025.0 3,038.3 3,032.1 3,040.8
[1] Certain prior-period revenue and expense lines and totals were reclassified to conform to the current period’s presentation. See Note 3 to the Consolidated Financial Statements.
[2] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.