EX-12.01 3 citi-exhibit1201x3312018.htm EXHIBIT 12.01 Exhibit
Exhibit 12.01

CITIGROUP INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Years Ended December 31,
March 31,
In millions of dollars, except for ratios
2017
 
2016
 
2015
 
2014
 
2013
 
2018
 
2017
EXCLUDING INTEREST ON DEPOSITS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (other than interest on deposits)
$
9,932

 
$
7,212

 
$
6,869

 
$
7,998

 
$
9,692

 
$
3,163

 
$
2,151

Interest factor in rent expense
345

 
361

 
414

 
460

 
467

 
81

 
86

Total fixed charges
$
10,277

 
$
7,573

 
$
7,283

 
$
8,458

 
$
10,159

 
$
3,244

 
$
2,237

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before taxes and noncontrolling interests
$
22,761

 
$
21,477

 
$
24,826

 
$
14,701

 
$
19,802

 
$
6,090

 
$
5,981

Fixed charges (excluding preferred stock dividends)
10,277

 
7,573

 
7,283

 
8,458

 
10,159

 
3,244

 
2,237

Total income
$
33,038

 
$
29,050

 
$
32,109

 
$
23,159

 
$
29,961

 
$
9,334

 
$
8,218

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of income to fixed charges excluding interest on deposits
3.21

 
3.84

 
4.41

 
2.74

 
2.95

 
2.88

 
3.67

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
INCLUDING INTEREST ON DEPOSITS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
16,518

 
$
12,512

 
$
11,922

 
$
13,690

 
$
15,928

 
$
5,160

 
$
3,566

Interest factor in rent expense
345

 
361

 
414

 
460

 
467

 
81

 
86

Total fixed charges
$
16,863

 
$
12,873

 
$
12,336

 
$
14,150

 
$
16,395

 
$
5,241

 
$
3,652

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before taxes and noncontrolling interests
$
22,761

 
$
21,477

 
$
24,826

 
$
14,701

 
$
19,802

 
$
6,090

 
$
5,981

Fixed charges (excluding preferred stock dividends)
16,863

 
12,873

 
12,336

 
14,150

 
16,395

 
5,241

 
3,652

Total income
$
39,624

 
$
34,350

 
$
37,162

 
$
28,851

 
$
36,197

 
$
11,331

 
$
9,633

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of income to fixed charges including interest on deposits
2.35

 
2.67

 
3.01

 
2.04

 
2.21

 
2.16

 
2.64

(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 noncontrolling interests for all periods presented. See Citi’s Current Report on Form 8-K furnished to the SEC on April 8, 2015.