EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2022

Reconciliation of the income and share data used in the basic and diluted earnings per share computations

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	2022		2021
Earnings per common share
Income from continuing operations before attribution of noncontrolling interests	$	4,325	$	7,977
Less: Noncontrolling interests from continuing operations	17		33
Net income from continuing operations (for EPS purposes)	$	4,308	$	7,944
Income (loss) from discontinued operations, net of taxes	(2)		(2)
Citigroup’s net income	$	4,306	$	7,942
Less: Preferred dividends	279		292
Net income available to common shareholders	$	4,027	$	7,650
Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with rights to dividends, applicable to basic EPS	25		66
Net income allocated to common shareholders for basic EPS	$	4,002	$	7,584
Weighted-average common shares outstanding applicable to basic EPS (in millions)	1,971.7		2,082.0
Basic earnings per share(1)
Income from continuing operations	$	2.03	$	3.64
Discontinued operations	—		—
Net income per share—basic	$	2.03	$	3.64
Diluted earnings per share
Net income allocated to common shareholders for basic EPS	$	4,002	$	7,584
Add back: Dividends allocated to employee restricted and deferred shares with rights to dividends that are forfeitable	8		7
Net income allocated to common shareholders for diluted EPS	$	4,010	$	7,591
Weighted-average common shares outstanding applicable to basic EPS (in millions)	1,971.7		2,082.0
Effect of dilutive securities
Options(2)	—		0.1
Other employee plans	16.5		14.5
Adjusted weighted-average common shares outstanding applicable to diluted EPS (in millions)(3)	1,988.2		2,096.6
Diluted earnings per share(1)
Income from continuing operations	$	2.02	$	3.62
Discontinued operations	—		—
Net income per share—diluted	$	2.02	$	3.62

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

(2) During the first quarters of 2022 and 2021, no significant options to purchase shares of common stock were outstanding.

(3) Due to rounding, weighted-average common shares outstanding applicable to basic EPS and the effect of dilutive securities may not sum to weighted-average common shares outstanding applicable to diluted EPS.