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CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - 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 [2]           (349) [1]   0  
Adjusted balance, beginning of period at Dec. 31, 2014           117,852   (23,216)  
Increase (Decrease) in Stockholders' Equity                  
Issuance of new preferred stock     4,750            
Employee benefit plans         325   405 [3]    
Preferred stock issuance expense         (19)        
Other         (24)       2
Net income $ 13,972         13,907     65
Common dividends [4]           (334)      
Preferred dividends (504)         (504)      
Tax benefit           0      
Treasury stock acquired [5]             (3,802)    
Other comprehensive income (loss)               (4,041) (67)
Transactions between noncontrolling-interest shareholders and the related consolidated subsidiary                 0
Transactions between Citigroup and the noncontrolling-interest shareholders                 (144)
Dividends paid to noncontrolling-interest shareholders                 (78)
Net change in noncontrolling interests                 (222)
Balance, end of period at Sep. 30, 2015 222,137 $ 220,848 15,218 $ 205,630 108,292 130,921 (6,326) (27,257) 1,289
Balance, beginning of period at Jun. 30, 2015               (25,104)  
Increase (Decrease) in Stockholders' Equity                  
Net income 4,296                
Preferred dividends (174)                
Other comprehensive income (loss)               (2,153)  
Balance, end of period at Sep. 30, 2015 222,137 220,848 15,218 205,630 108,292 130,921 (6,326) (27,257) 1,289
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 [2]           15 [1]   (15)  
Adjusted balance, beginning of period at Dec. 31, 2015           133,856   (29,359)  
Increase (Decrease) in Stockholders' Equity                  
Issuance of new preferred stock     2,535            
Employee benefit plans         (371)   775 [3]    
Preferred stock issuance expense         (37)        
Other         (5)       (33)
Net income 11,387         11,339     48
Common dividends [4]           (760)      
Preferred dividends (757)         (757)      
Tax benefit           0      
Treasury stock acquired [5]             (5,167)    
Other comprehensive income (loss)               2,166 (13)
Transactions between noncontrolling-interest shareholders and the related consolidated subsidiary                 (11)
Transactions between Citigroup and the noncontrolling-interest shareholders                 (69)
Dividends paid to noncontrolling-interest shareholders                 (42)
Net change in noncontrolling interests                 (120)
Balance, end of period at Sep. 30, 2016 232,690 231,575 19,253 212,322 107,906 143,678 (12,069) (27,193) 1,115
Balance, beginning of period at Jun. 30, 2016               (26,115)  
Increase (Decrease) in Stockholders' Equity                  
Net income 3,857                
Preferred dividends (225)                
Other comprehensive income (loss)               (1,078)  
Balance, end of period at Sep. 30, 2016 $ 232,690 $ 231,575 $ 19,253 $ 212,322 $ 107,906 $ 143,678 $ (12,069) $ (27,193) $ 1,115
[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 in Citi’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 for additional information.
[2] See Note 1 to the Consolidated Financial Statements for additional details.
[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 and second quarters and $0.16 per share in the third quarter of 2016 and $0.01 per share in the first quarter and $0.05 per share in the second and third quarters of 2015.
[5] For the nine months ended September 30, 2016 and 2015, primarily consists of open market purchases under Citi’s Board of Directors-approved common stock repurchase program.