EX-12.01 5 citi-exhibit1201x3312016.htm EXHIBIT 12.01 Exhibit
Exhibit 12.01

CITIGROUP INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Years ended December 31,
March 31,
In millions of dollars, except for ratios
2015
 
2014
 
2013
 
2012
 
2011
 
2016
 
2015
EXCLUDING INTEREST ON DEPOSITS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (other than interest on deposits)
$
6,869

 
$
7,998

 
$
9,941

 
$
12,922

 
$
15,678

 
$
1,737

 
$
1,702

Interest factor in rent expense
414

 
460

 
460

 
496

 
495

 
91

 
105

Total fixed charges
$
7,283

 
$
8,458

 
$
10,401

 
$
13,418

 
$
16,173

 
$
1,828

 
$
1,807

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before taxes and noncontrolling interests
$
24,826

 
$
14,701

 
$
19,802

 
$
8,165

 
$
15,096

 
$
4,987

 
$
6,937

Fixed charges (excluding preferred stock dividends)
7,283

 
8,458

 
10,401

 
13,418

 
16,173

 
1,828

 
1,807

Total income
$
32,109

 
$
23,159

 
$
30,203

 
$
21,583

 
$
31,269

 
$
6,815

 
$
8,744

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of income to fixed charges excluding interest on deposits
4.41

 
2.74

 
2.90

 
1.61

 
1.93

 
3.73

 
4.84

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
INCLUDING INTEREST ON DEPOSITS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
11,921

 
$
13,690

 
$
16,177

 
$
20,612

 
$
24,209

 
$
2,941

 
$
3,028

Interest factor in rent expense
414

 
460

 
460

 
496

 
495

 
91

 
105

Total fixed charges
$
12,335

 
$
14,150

 
$
16,637

 
$
21,108

 
$
24,704

 
$
3,032

 
$
3,133

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before taxes and noncontrolling interests
$
24,826

 
$
14,701

 
$
19,802

 
$
8,165

 
$
15,096

 
$
4,987

 
$
6,937

Fixed charges (excluding preferred stock dividends)
12,335

 
14,150

 
16,637

 
21,108

 
24,704

 
3,032

 
3,133

Total income
$
37,161

 
$
28,851

 
$
36,439

 
$
29,273

 
$
39,800

 
$
8,019

 
$
10,070

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of income to fixed charges including interest on deposits
3.01

 
2.04

 
2.19

 
1.39

 
1.61

 
2.64

 
3.21

(1)
Citigroup adopted Accounting Standards Update (ASU) 2014-01, Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects in the first quarter of 2015. The ASU is applicable to Citigroup’s portfolio of low income housing tax credit partnership interests. The adoption of this ASU was applied retrospectively, and among other items, impacts Citigroup’s Income from continuing operations before taxes and non-controlling interests for all periods presented. See Citi’s Current Report on Form 8-K furnished to the SEC on April 8, 2015.