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CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Citigroup stockholders' equity
Preferred stock at aggregate liquidation value
Citigroup common stockholders' equity
Common stock and additional paid-in capital
Retained earnings
Retained earnings
Cumulative Effect, Period of Adoption, Adjustment
[1]
Retained earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Treasury stock, at cost
Citigroup's accumulated other comprehensive income (loss)
Noncontrolling interests
Balance, beginning of period at Dec. 31, 2018     $ 18,460   $ 107,953 $ 151,347 $ 151 $ 151,498 $ (44,370) $ (37,170) $ 854
Increase (Decrease) in Stockholders' Equity                      
Issuance of new preferred stock     0                
Redemption of preferred stock     (480)                
Employee benefit plans         (270)       573 [2]    
Preferred stock issuance costs         0            
Common dividends [3]           (2,116)          
Preferred dividends $ (558)         (558)          
Other         5 (12)         (9)
Treasury stock acquired [4]                 (7,630)    
Citigroup's total other comprehensive income (loss)                   1,967 7
Transactions between Citigroup and the noncontrolling-interest shareholders                     (99)
Net income before attribution of noncontrolling interests 9,544         9,509         35
Distributions paid to noncontrolling-interest shareholders                     (37)
Net change in noncontrolling interests                     (103)
Balance, end of period at Jun. 30, 2019 198,110 $ 197,359 17,980 $ 179,379 107,688 158,321     (51,427) (35,203) 751
Balance, beginning of period at Mar. 31, 2019     17,980   107,582 154,859 0 154,859 (47,861) (36,308) 763
Increase (Decrease) in Stockholders' Equity                      
Issuance of new preferred stock     0                
Redemption of preferred stock     0                
Employee benefit plans         112       9 [2]    
Preferred stock issuance costs         0            
Common dividends [3]           (1,041)          
Preferred dividends (296)         (296)          
Other         (6) 0         (9)
Treasury stock acquired [4]                 (3,575)    
Citigroup's total other comprehensive income (loss)                   1,105 20
Transactions between Citigroup and the noncontrolling-interest shareholders                     0
Net income before attribution of noncontrolling interests 4,809         4,799         10
Distributions paid to noncontrolling-interest shareholders                     (33)
Net change in noncontrolling interests                     (12)
Balance, end of period at Jun. 30, 2019 198,110 197,359 17,980 179,379 107,688 158,321     (51,427) (35,203) 751
Balance, beginning of period at Dec. 31, 2019 193,946   17,980   107,871 165,369 (3,076) 162,293 (61,660) (36,318) 704
Increase (Decrease) in Stockholders' Equity                      
Issuance of new preferred stock     1,500                
Redemption of preferred stock     (1,500)                
Employee benefit plans         (174)       442 [2]    
Preferred stock issuance costs         2            
Common dividends [3]           (2,152)          
Preferred dividends (544)         (544)          
Other         0 (4)         0
Treasury stock acquired [4]                 (2,925)    
Citigroup's total other comprehensive income (loss)                   2,973 (12)
Transactions between Citigroup and the noncontrolling-interest shareholders                     (6)
Net income before attribution of noncontrolling interests 3,832         3,838         (6)
Distributions paid to noncontrolling-interest shareholders                     0
Net change in noncontrolling interests                     (24)
Balance, end of period at Jun. 30, 2020 192,302 191,622 17,980 173,642 107,699 163,431     (64,143) (33,345) 680
Balance, beginning of period at Mar. 31, 2020     17,980   107,581 163,438 $ 0 $ 163,438 (64,147) (32,521) 651
Increase (Decrease) in Stockholders' Equity                      
Issuance of new preferred stock     0                
Redemption of preferred stock     0                
Employee benefit plans         118       4 [2]    
Preferred stock issuance costs         0            
Common dividends [3]           (1,071)          
Preferred dividends (253)         (253)          
Other         0 1         (10)
Treasury stock acquired [4]                 0    
Citigroup's total other comprehensive income (loss)                   (824) 39
Transactions between Citigroup and the noncontrolling-interest shareholders                     0
Net income before attribution of noncontrolling interests 1,316         1,316         0
Distributions paid to noncontrolling-interest shareholders                     0
Net change in noncontrolling interests                     29
Balance, end of period at Jun. 30, 2020 $ 192,302 $ 191,622 $ 17,980 $ 173,642 $ 107,699 $ 163,431     $ (64,143) $ (33,345) $ 680
[1] See Note 1 to the Consolidated Financial Statements for additional details.
[2] Includes treasury stock related to (i) certain activity on employee stock option program exercises where the employee delivers existing shares to cover the option exercise, or (ii) under Citi’s employee restricted or deferred stock programs where shares are withheld to satisfy tax requirements.
[3] Common dividends declared were $0.51 per share in the first and second quarters of 2020. Common dividends declared were $0.45 per share in the first and second quarters of 2019.
[4] Primarily consists of open market purchases under Citi’s Board of Directors-approved common stock repurchase program.