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CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues        
Interest revenue $ 14,356 $ 14,873 $ 28,523 $ 29,473
Interest expense 3,120 3,051 6,060 6,079
Net interest revenue 11,236 11,822 22,463 23,394
Commissions and fees 2,725 3,194 5,188 6,364
Principal transactions 1,816 2,173 3,656 4,144
Administration and other fiduciary fees 878 995 1,689 1,957
Realized gains on sales of investments, net 200 183 386 490
Other-than-temporary impairment losses on investments        
Gross impairment losses (118) (43) (583) (115)
Less: Impairments recognized in AOCI 0 0 0 0
Net impairment losses recognized in earnings (118) (43) (583) (115)
Insurance premiums 217 482 481 979
Other revenue 594 664 1,823 1,993
Total non-interest revenues 6,312 7,648 12,640 15,812
Total revenues, net of interest expense 17,548 19,470 35,103 39,206
Provisions for credit losses and for benefits and claims        
Provision for loan losses 1,390 1,515 3,276 3,270
Policyholder benefits and claims 49 181 137 378
Provision (release) for unfunded lending commitments (30) (48) 41 (85)
Total provisions for credit losses and for benefits and claims 1,409 1,648 3,454 3,563
Operating expenses        
Compensation and benefits 5,229 5,483 10,785 11,003
Premises and equipment 642 737 1,293 1,446
Technology/communication 1,657 1,656 3,306 3,256
Advertising and marketing 433 393 823 785
Other operating 2,408 2,659 4,685 5,322
Total operating expenses 10,369 10,928 20,892 21,812
Income from continuing operations before income taxes 5,770 6,894 10,757 13,831
Provision for income taxes 1,723 2,036 3,202 4,156
Income from continuing operations 4,047 4,858 7,555 9,675
Discontinued operations        
Income (loss) from discontinued operations (36) 9 (39) 1
Provision (benefit) for income taxes (13) 3 (14) 0
Income (loss) from discontinued operations, net of taxes (23) 6 (25) 1
Net income before attribution of noncontrolling interests 4,024 4,864 7,530 9,676
Noncontrolling interests 26 18 31 60
Citigroup’s net income $ 3,998 $ 4,846 $ 7,499 $ 9,616
Basic earnings per share        
Income from continuing operations (in dollars per share) [1] $ 1.25 $ 1.51 $ 2.36 $ 3.03
Loss from discontinued operations, net of taxes (in dollars per share) [1] (0.01) 0.00 (0.01) 0.00
Net income (in dollars per share) [1] $ 1.24 $ 1.52 $ 2.35 $ 3.03
Weighted average common shares outstanding (in shares) 2,915.8 3,020.0 2,929.4 3,027.1
Diluted earnings per share        
Income from continuing operations (in dollars per share) [1] $ 1.25 $ 1.51 $ 2.36 $ 3.02
Loss from discontinued operations, net of taxes (in dollars per share) [1] (0.01) 0.00 (0.01) 0.00
Net income (in dollars per share) [1] $ 1.24 $ 1.51 $ 2.35 $ 3.02
Adjusted weighted average common shares outstanding (in shares) 2,915.9 3,025.0 2,929.5 3,032.1
[1] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.