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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Interest revenue $ 19,177 $ 18,170 $ 57,965 $ 52,052
Interest expense 7,536 6,368 22,615 17,413
Net interest revenue 11,641 11,802 35,350 34,639
Commissions and fees 2,906 2,803 8,713 8,944
Principal transactions 2,802 2,364 7,480 7,732
Administration and other fiduciary fees 880 911 2,588 2,750
Realized gains on sales of investments, net 361 69 959 341
Impairment losses on investments        
Gross impairment losses (14) (70) (27) (113)
Net impairment losses recognized in earnings (14) (70) (27) (113)
Other revenue (2) 510 845 1,437
Total non-interest revenues 6,933 6,587 20,558 21,091
Total revenues, net of interest expense 18,574 18,389 55,908 55,730
Provisions for credit losses and for benefits and claims        
Provision for loan losses 2,062 1,906 6,095 5,504
Policyholder benefits and claims 17 26 48 73
Provision for unfunded lending commitments 9 42 18 66
Total provisions for credit losses and for benefits and claims 2,088 1,974 6,161 5,643
Operating expenses        
Compensation and benefits 5,329 5,319 16,368 16,578
Premises and equipment 580 565 1,713 1,728
Technology/communication 1,783 1,806 5,227 5,361
Advertising and marketing 378 378 1,171 1,170
Other operating 2,394 2,243 7,069 7,111
Total operating expenses 10,464 10,311 31,548 31,948
Income from continuing operations before income taxes 6,022 6,104 18,199 18,139
Provision for income taxes 1,079 1,471 3,727 4,356
Income from continuing operations 4,943 4,633 14,472 13,783
Discontinued operations        
Loss from discontinued operations (15) (8) (27) (17)
Benefit for income taxes 0 0 (27) (17)
Loss from discontinued operations, net of taxes (15) (8) 0 0
Net income before attribution of noncontrolling interests 4,928 4,625 14,472 13,783
Noncontrolling interests 15 3 50 51
Citigroup’s net income $ 4,913 $ 4,622 $ 14,422 $ 13,732
Basic earnings per share        
Income from continuing operations (in dollars per share) [1] $ 2.09 $ 1.74 $ 5.92 $ 5.04
Income from discontinued operations, net of taxes (in dollars per share) [1] (0.01) 0 0 0
Net income (in dollars per share) [1] $ 2.09 $ 1.73 $ 5.92 $ 5.04
Weighted average common shares outstanding (in shares) 2,220.8 2,479.8 2,282.4 2,524.1
Diluted earnings per share        
Income from continuing operations (in dollars per share) [1] $ 2.08 $ 1.74 $ 5.89 $ 5.04
Income (loss) from discontinued operations, net of taxes (in dollars per share) [1] (0.01) 0 0 0
Net income (in dollars per share) [1] $ 2.07 $ 1.73 $ 5.89 $ 5.04
Adjusted weighted average common shares outstanding (in shares) 2,237.1 2,481.4 2,298.2 2,525.5
[1]
Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.