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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Interest revenue $ 17,139 $ 19,076
Interest expense 5,647 7,317
Net interest revenue 11,492 11,759
Commissions and fees 3,021 2,926
Principal transactions 5,261 2,804
Administration and other fiduciary fees 854 839
Realized gains on sales of investments, net 432 130
Impairment losses on investments    
Gross impairment losses (55) (8)
Net impairment losses recognized in earnings (55) (8)
Other revenue (loss) (274) 126
Total non-interest revenues 9,239 6,817
Total revenues, net of interest expense 20,731 18,576
Provisions for credit losses and for benefits and claims    
Provision for credit losses on loans 6,444 1,944
Provision for credit losses on held-to-maturity (HTM) debt securities 6 0
Provision for credit losses on other assets (4) 0
Policyholder benefits and claims 24 12
Provision for credit losses on unfunded lending commitments 557 24
Total provisions for credit losses and for benefits and claims 7,027 1,980
Operating expenses    
Compensation and benefits 5,654 5,658
Premises and equipment 565 564
Technology/communication 1,723 1,720
Advertising and marketing 328 359
Other operating 2,324 2,283
Total operating expenses 10,594 10,584
Income (loss) from continuing operations before income taxes 3,110 6,012
Provision for income taxes 576 1,275
Income from continuing operations 2,534 4,737
Discontinued operations    
Loss from discontinued operations (18) (2)
Benefit for income taxes 0 0
Loss from discontinued operations, net of taxes (18) (2)
Net income before attribution of noncontrolling interests 2,516 4,735
Noncontrolling interests (6) 25
Citigroup’s net income $ 2,522 $ 4,710
Basic earnings per share    
Income from continuing operations (in dollars per share) [1] $ 1.06 $ 1.88
Income from discontinued operations, net of taxes (in dollars per share) [1] (0.01) 0
Net income (in dollars per share) [1] $ 1.05 $ 1.88
Weighted average common shares outstanding (in shares) 2,097.9 2,340.4
Diluted earnings per share    
Income from continuing operations (in dollars per share) [1] $ 1.06 $ 1.87
Income (loss) from discontinued operations, net of taxes (in dollars per share) [1] (0.01) 0
Net income (in dollars per share) [1] $ 1.05 $ 1.87
Adjusted weighted average common shares outstanding (in shares) 2,113.7 2,342.4
[1]
Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.