The following table reconciles the income and share data used in the basic and diluted earnings per share (EPS) computations:



	Three months ended March 31,
In millions, except per-share amounts	2017			2016
Income from continuing operations before attribution of noncontrolling interests	$	4,118		$	3,508
Less: Noncontrolling interests from continuing operations	10			5
Net income from continuing operations (for EPS purposes)	$	4,108		$	3,503
Income (loss) from discontinued operations, net of taxes	(18		)	(2		)
Citigroup's net income	$	4,090		$	3,501
Less: Preferred dividends⁽¹⁾	301			210
Net income available to common shareholders	$	3,789		$	3,291
Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with nonforfeitable rights to dividends, applicable to basic EPS	55			40
Net income allocated to common shareholders for basic EPS	$	3,734		$	3,251
Net income allocated to common shareholders for diluted EPS	3,734			3,251
Weighted-average common shares outstanding applicable to basic EPS	2,765.3			2,943.0
Effect of dilutive securities⁽²⁾
Options⁽³⁾	0.2			0.1
Adjusted weighted-average common shares outstanding applicable to diluted EPS⁽⁴⁾	2,765.5			2,943.1
Basic earnings per share⁽⁵⁾
Income from continuing operations	$	1.36		$	1.11
Discontinued operations	(0.01		)	—
Net income	$	1.35		$	1.10
Diluted earnings per share⁽⁵⁾
Income from continuing operations	$	1.36		$	1.11
Discontinued operations	(0.01		)	—
Net income	$	1.35		$	1.10


(1)	During the first quarter of 2017, Citi distributed $301 million in dividends on its outstanding preferred stock. As of March 31, 2017, Citi estimates it will distribute preferred dividends of approximately $912 million during the remainder of 2017, 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 $105.71 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 months ended March 31, 2017 and 2016 because they were anti-dilutive.


(3)	During the first quarters of 2017 and 2016, weighted-average options to purchase 0.9 million and 6.2 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 $201.01 and $69.88 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.