XML 26 R2.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Interest revenue $ 13,314 $ 19,177 $ 45,042 $ 57,965
Interest expense 2,821 7,536 11,977 22,615
Net interest revenue 10,493 11,641 33,065 35,350
Commissions and fees 2,753 2,906 8,707 8,713
Principal transactions 2,508 2,802 11,926 7,480
Administration and other fiduciary fees 892 880 2,565 2,588
Realized gains on sales of investments, net 304 361 1,484 959
Impairment losses on investments:        
Impairment losses on investments and other assets (30) (14) (154) (27)
Provision for credit losses on AFS debt securities [1] 4 0 (4) 0
Net impairment losses recognized in earnings (26) (14) (158) (27)
Other revenue (loss) 378 (2) 210 845
Total non-interest revenues 6,809 6,933 24,734 20,558
Total revenues, net of interest expense 17,302 18,574 57,799 55,908
Provisions for credit losses and for benefits and claims        
Provision for credit losses on loans 1,809 2,062 15,949 6,095
Provision for credit losses on held-to-maturity (HTM) debt securities (16) 0 21 0
Provision for credit losses on other assets (13) 0 31 0
Policyholder benefits and claims 58 17 97 48
Provision for credit losses on unfunded lending commitments 424 9 1,094 18
Total provisions for credit losses and for benefits and claims 2,262 2,088 17,192 6,161
Operating expenses        
Compensation and benefits 5,595 5,329 16,873 16,368
Premises and equipment 575 580 1,702 1,713
Technology/communication 1,891 1,783 5,355 5,227
Advertising and marketing 238 378 865 1,171
Other operating 2,665 2,394 7,178 7,069
Total operating expenses 10,964 10,464 31,973 31,548
Income (loss) from continuing operations before income taxes 4,076 6,022 8,634 18,199
Provision for income taxes 815 1,079 1,522 3,727
Income from continuing operations 3,261 4,943 7,112 14,472
Discontinued operations        
Loss from discontinued operations (7) (15) (26) (27)
Benefit for income taxes 0 0 0 (27)
Income (loss) from discontinued operations, net of taxes (7) (15) (26) 0
Net income before attribution of noncontrolling interests 3,254 4,928 7,086 14,472
Noncontrolling interests 24 15 18 50
Citigroup’s net income $ 3,230 $ 4,913 $ 7,068 $ 14,422
Basic earnings per share        
Income from continuing operations (in dollars per share) [2] $ 1.41 $ 2.09 $ 2.98 $ 5.92
Income from discontinued operations, net of taxes (in dollars per share) [2] 0 (0.01) (0.01) 0
Net income (in dollars per share) [2] $ 1.41 $ 2.09 $ 2.97 $ 5.92
Weighted average common shares outstanding (in shares) 2,081.8 2,220.8 2,087.1 2,282.4
Diluted earnings per share        
Income from continuing operations (in dollars per share) [2] $ 1.40 $ 2.08 $ 2.97 $ 5.89
Income (loss) from discontinued operations, net of taxes (in dollars per share) [2] 0 (0.01) (0.01) 0
Net income (in dollars per share) [2] $ 1.40 $ 2.07 $ 2.96 $ 5.89
Adjusted weighted average common shares outstanding (in shares) 2,094.3 2,237.1 2,100.1 2,298.2
[1] In accordance with ASC 326.
[2] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.