EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2019

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 of dollars, except per share amounts	2019			2018
Income from continuing operations before attribution of noncontrolling interests	$	4,737		$	4,649
Less: Noncontrolling interests from continuing operations	25			22
Net income from continuing operations (for EPS purposes)	$	4,712		$	4,627
Loss from discontinued operations, net of taxes	(2		)	(7		)
Citigroup's net income	$	4,710		$	4,620
Less: Preferred dividends⁽¹⁾	262			272
Net income available to common shareholders	$	4,448		$	4,348
Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with nonforfeitable rights to dividends, applicable to basic EPS	59			51
Net income allocated to common shareholders for basic and diluted EPS	4,389			4,297
Weighted-average common shares outstanding applicable to basic EPS (in millions)	2,340.4			2,561.6
Effect of dilutive securities
Options⁽²⁾	0.1			0.1
Other employee plans	1.9			1.3
Adjusted weighted-average common shares outstanding applicable to diluted EPS⁽³⁾	2,342.4			2,563.0
Basic earnings per share⁽⁴⁾
Income from continuing operations	$	1.88		$	1.68
Discontinued operations	—			—
Net income	$	1.88		$	1.68
Diluted earnings per share⁽⁴⁾
Income from continuing operations	$	1.87		$	1.68
Discontinued operations	—			—
Net income	$	1.87		$	1.68


(1)	As of March 31, 2019, Citi estimates it will distribute preferred dividends of approximately $846 million during the remainder of 2019, assuming such dividends are declared by the Citi Board of Directors. During the first quarter of 2019, Citi redeemed all of its 19.2 million Series L preferred shares for $480 million in February 2019.


(2)	During the first quarter of 2019, no significant options to purchase shares of common stock were outstanding. During the first quarter of 2018, weighted-average options to purchase 0.5 million shares of common stock were outstanding but not included in the computation of earnings per share because the weighted-average exercise price of $149.41 per share was anti-dilutive.


(3)	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.


(4)	Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.