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EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Reconciliation of the income and share data used in the basic and diluted earnings per share computations
The following table reconciles the income and share data used in the basic and diluted earnings per share (EPS) computations:
 
Three Months Ended 
 September 30,
Nine Months Ended September 30,
In millions, except per-share amounts
2016
2015
2016
2015
Income from continuing operations before attribution of noncontrolling interests
$
3,887

$
4,306

$
11,442

$
13,981

Less: Noncontrolling interests from continuing operations
17

5

48

65

Net income from continuing operations (for EPS purposes)
$
3,870

$
4,301

$
11,394

$
13,916

Income (loss) from discontinued operations, net of taxes
(30
)
(10
)
(55
)
(9
)
Citigroup's net income
$
3,840

$
4,291

$
11,339

$
13,907

Less: Preferred dividends(1)
225

174

757

504

Net income available to common shareholders
$
3,615

$
4,117

$
10,582

$
13,403

Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with nonforfeitable rights to dividends, applicable to basic EPS
53

56

145

182

Net income allocated to common shareholders for basic EPS
$
3,562

$
4,061

$
10,437

$
13,221

Net income allocated to common shareholders for diluted EPS
$
3,562

$
4,061

$
10,437

$
13,221

Weighted-average common shares outstanding applicable to basic EPS
2,879.9

2,993.3

2,912.9

3,015.8

Effect of dilutive securities(2)
 
 
 

 
Options(3)
0.1

3.4

0.1

4.4

Other employee plans
0.1

0.2

0.1

0.2

Adjusted weighted-average common shares outstanding applicable to diluted EPS(4)
2,880.1

2,996.9

2,913.0

3,020.4

Basic earnings per share(5)
 
 
 

  
Income from continuing operations
$
1.25

$
1.36

$
3.60

$
4.39

Discontinued operations
(0.01
)
—

(0.02
)
—

Net income
$
1.24

$
1.36

$
3.58

$
4.38

Diluted earnings per share(5)
 
 
 
  
Income from continuing operations
$
1.25

$
1.36

$
3.60

$
4.38

Discontinued operations
(0.01
)
—

(0.02
)
—

Net income
$
1.24

$
1.35

$
3.58

$
4.38

(1)
During the third quarter of 2016, Citi distributed $225 million in dividends on its outstanding preferred stock. As of September 30, 2016, Citi estimates it will distribute preferred dividends of approximately $320 million during the remainder of 2016, in each case assuming such dividends are declared by the Citi Board of Directors.
(2)
Warrants issued to the U.S. Treasury as part of the Troubled Asset Relief Program (TARP) and the loss-sharing agreement (all of which were subsequently sold to the public in January 2011), with exercise prices of $178.50 and $106.10 per share for approximately 21.0 million and 25.5 million shares of Citigroup common stock, respectively. Both warrants were not included in the computation of earnings per share in the three and nine months ended September 30, 2016 and 2015 because they were anti-dilutive.
(3)
During the third quarters of 2016 and 2015, weighted-average options to purchase 3.6 million and 0.9 million shares of common stock, respectively, were outstanding but not included in the computation of earnings per share because the weighted-average exercise prices of $85.92 and $201.01 per share, respectively, were anti-dilutive.
(4)
Due to rounding, common shares outstanding applicable to basic EPS and the effect of dilutive securities may not sum to common shares outstanding applicable to diluted EPS.
(5)
Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.