EX-12.02 4 citi-exhibit1202x6302017.htm EXHIBIT 12.02 Exhibit
Exhibit 12.02

CITIGROUP INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
INCLUDING PREFERRED STOCK DIVIDENDS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended
 
Years ended December 31,
June 30,
In millions of dollars, except for ratios
2016
 
2015
 
2014
 
2013
 
2012
 
2017
 
2016
EXCLUDING INTEREST ON DEPOSITS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (other than interest on deposits)
$
7,211

 
$
6,869

 
$
7,998

 
$
9,941

 
$
12,922

 
$
4,584

 
$
3,550

Interest factor in rent expense
361

 
414

 
460

 
460

 
496

 
175

 
184

Dividends--Preferred Stock
1,077

 
769

 
511

 
194

 
26

 
621

 
532

Total fixed charges
$
8,649

 
$
8,052

 
$
8,969

 
$
10,595

 
$
13,444

 
$
5,380

 
$
4,266

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before taxes and noncontrolling interests
$
21,477

 
$
24,826

 
$
14,701

 
$
19,802

 
$
8,165

 
$
11,659

 
$
10,757

Fixed charges (including preferred stock dividends)
8,649

 
8,052

 
8,969

 
10,595

 
13,444

 
5,380

 
4,266

Total income
$
30,126

 
$
32,878

 
$
23,670

 
$
30,397

 
$
21,609

 
$
17,039

 
$
15,023

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of income to fixed charges excluding interest on deposits
3.48

 
4.08

 
2.64

 
2.87

 
1.61

 
3.17

 
3.52

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
INCLUDING INTEREST ON DEPOSITS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
12,511

 
$
11,921

 
$
13,690

 
$
16,177

 
$
20,612

 
$
7,602

 
$
6,060

Interest factor in rent expense
361

 
414

 
460

 
460

 
496

 
175

 
184

Dividends--Preferred Stock
1,077

 
769

 
511

 
194

 
26

 
621

 
532

Total fixed charges
$
13,949

 
$
13,104

 
$
14,661

 
$
16,831

 
$
21,134

 
$
8,398

 
$
6,776

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before taxes and noncontrolling interests
$
21,477

 
$
24,826

 
$
14,701

 
$
19,802

 
$
8,165

 
$
11,659

 
$
10,757

Fixed charges (including preferred stock dividends)
13,949

 
13,104

 
14,661

 
16,831

 
21,134

 
8,398

 
6,776

Total income
$
35,426

 
$
37,930

 
$
29,362

 
$
36,633

 
$
29,299

 
$
20,057

 
$
17,533

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of income to fixed charges including interest on deposits
2.54

 
2.89

 
2.00

 
2.18

 
1.39

 
2.39

 
2.59

 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Citigroup adopted Accounting Standards Update (ASU) 2014-01, Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects in the first quarter of 2015. The ASU is applicable to Citigroup’s portfolio of low income housing tax credit partnership interests. The adoption of this ASU was applied retrospectively, and among other items, impacts Citigroup’s Income from continuing operations before taxes and non-controlling interests for all periods presented. See Citi’s Current Report on Form 8-K furnished to the SEC on April 8, 2015.