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CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Citigroup stockholders' equity
Preferred stock at aggregate liquidation value
Citigroup common stockholders' equity
Common stock and additional paid-in capital
Retained earnings
Treasury stock, at cost
Citigroup's accumulated other comprehensive income (loss)
Noncontrolling interests
Balance, beginning of period at Dec. 31, 2014     $ 10,468   $ 108,010 $ 118,201 $ (2,929) $ (23,216) $ 1,511
Adjustment to opening balance, net of taxes at Dec. 31, 2014           (349) [1],[2]   0  
Adjusted balance, beginning of period at Dec. 31, 2014           117,852   (23,216)  
Increase (Decrease) in Stockholders' Equity                  
Issuance of new preferred stock     1,500            
Employee benefit plans         176   (49) [3]    
Preferred stock issuance expense         (6)        
Other         (25)       27
Net income attributable to noncontrolling-interest shareholders $ 4,812         4,770     42
Common dividends [4]           (31)      
Preferred dividends (128)         (128)      
Treasury stock acquired [5]             (297)    
Other comprehensive income (loss)               (1,475) (56)
Transactions between Citigroup and the noncontrolling-interest shareholders                 (118)
Dividends paid to noncontrolling-interest shareholders                 (3)
Net change in noncontrolling interests                 (108)
Balance, end of period at Mar. 31, 2015 216,023 $ 214,620 11,968 $ 202,652 108,155 122,463 (3,275) (24,691) 1,403
Balance, beginning of period at Dec. 31, 2015 223,092   16,718   108,319 133,841 (7,677) (29,344) 1,235
Adjustment to opening balance, net of taxes at Dec. 31, 2015           15 [1],[2]   (15)  
Adjusted balance, beginning of period at Dec. 31, 2015           133,856   (29,359)  
Increase (Decrease) in Stockholders' Equity                  
Issuance of new preferred stock     1,035            
Employee benefit plans         (660)   765 [3]    
Preferred stock issuance expense         (31)        
Other         (7)       (1)
Net income attributable to noncontrolling-interest shareholders 3,506         3,501     5
Common dividends [4]           (149)      
Preferred dividends (210)         (210)      
Treasury stock acquired [5]             (1,312)    
Other comprehensive income (loss)               2,733 27
Transactions between Citigroup and the noncontrolling-interest shareholders                 (27)
Dividends paid to noncontrolling-interest shareholders                 0
Net change in noncontrolling interests                 4
Balance, end of period at Mar. 31, 2016 $ 228,761 $ 227,522 $ 17,753 $ 209,769 $ 107,621 $ 136,998 $ (8,224) $ (26,626) $ 1,239
[1] Citi adopted ASU 2014-01 Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Affordable Housing, in the first quarter of 2015 on a retrospective basis. This adjustment to opening Retained earnings represents the impact to periods prior to January 1, 2013 and is shown as an adjustment to the opening balance since 2015 is the earliest period presented in this statement. See Note 1 to the Consolidated Financial Statements for additional information.
[2] Effective January 1, 2016, Citigroup early adopted the provisions of the amendment in ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-01): Recognition and Measurement of Financial Assets and Financial Liabilities, related to the presentation of DVA on fair value option liabilities. Accordingly, beginning in the first quarter 2016, the portion of the change in fair value of these liabilities related to changes in Citigroup’s own credit spreads (DVA) is reflected as a component of Accumulated other comprehensive income (AOCI). The cumulative effect of this change in accounting resulted in a reclassification from Retained earnings to AOCI of an accumulated after-tax loss of approximately $15 million at January 1, 2016.
[3] Includes treasury stock related to (i) certain activity on employee stock option program exercises where the employee delivers existing shares to cover the option exercise, or (ii) under Citi’s employee restricted or deferred stock programs where shares are withheld to satisfy tax requirements.
[4] Common dividends declared were $0.05 per share in the first quarter of 2016 and $0.01 per share in the first quarter of 2015.
[5] For the three months ended March 31, 2016 and 2015, primarily consists of open market purchases under Citi’s Board of Directors-approved common stock repurchase program.