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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Interest revenue $ 14,653 $ 14,714 $ 43,176 $ 44,187
Interest expense 3,174 2,941 9,234 9,020
Net interest revenue 11,479 11,773 33,942 35,167
Commissions and fees 2,644 2,732 7,832 9,096
Principal transactions 2,238 1,327 5,894 5,471
Administration and other fiduciary fees 862 870 2,551 2,827
Realized gains on sales of investments, net 287 151 673 641
Other-than-temporary impairment losses on investments        
Gross impairment losses (32) (80) (615) (195)
Less: Impairments recognized in AOCI 0 0 0 0
Net impairment losses recognized in earnings (32) (80) (615) (195)
Insurance premiums 184 464 665 1,443
Other revenue 98 1,455 1,921 3,448
Total non-interest revenues 6,281 6,919 18,921 22,731
Total revenues, net of interest expense 17,760 18,692 52,863 57,898
Provisions for credit losses and for benefits and claims        
Provision for loan losses 1,746 1,582 5,022 4,852
Policyholder benefits and claims 35 189 172 567
Provision (release) for unfunded lending commitments (45) 65 (4) (20)
Total provisions for credit losses and for benefits and claims 1,736 1,836 5,190 5,399
Operating expenses        
Compensation and benefits 5,203 5,321 15,988 16,324
Premises and equipment 624 722 1,917 2,168
Technology/communication 1,694 1,628 5,000 4,884
Advertising and marketing 403 391 1,226 1,176
Other operating 2,480 2,607 7,165 7,929
Total operating expenses 10,404 10,669 31,296 32,481
Income from continuing operations before income taxes 5,620 6,187 16,377 20,018
Provision for income taxes 1,733 1,881 4,935 6,037
Income from continuing operations 3,887 4,306 11,442 13,981
Discontinued operations        
Loss from discontinued operations (37) (15) (76) (14)
Benefit for income taxes (7) (5) (21) (5)
Loss from discontinued operations, net of taxes (30) (10) (55) (9)
Net income before attribution of noncontrolling interests 3,857 4,296 11,387 13,972
Noncontrolling interests 17 5 48 65
Citigroup’s net income $ 3,840 $ 4,291 $ 11,339 $ 13,907
Basic earnings per share        
Income from continuing operations (in dollars per share) [1] $ 1.25 $ 1.36 $ 3.60 $ 4.39
Loss from discontinued operations, net of taxes (in dollars per share) [1] (0.01) 0.00 (0.02) 0.00
Net income (in dollars per share) [1] $ 1.24 $ 1.36 $ 3.58 $ 4.38
Weighted average common shares outstanding (in shares) 2,879.9 2,993.3 2,912.9 3,015.8
Diluted earnings per share        
Income from continuing operations (in dollars per share) [1] $ 1.25 $ 1.36 $ 3.60 $ 4.38
Loss from discontinued operations, net of taxes (in dollars per share) [1] (0.01) 0.00 (0.02) 0.00
Net income (in dollars per share) [1] $ 1.24 $ 1.35 $ 3.58 $ 4.38
Adjusted weighted average common shares outstanding (in shares) 2,880.1 2,996.9 2,913.0 3,020.4
[1] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.