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CONSOLIDATED STATEMENT OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Interest revenue $ 74,408 $ 50,475 $ 58,089
Interest expense 25,740 7,981 13,338
Net interest income 48,668 42,494 44,751
Commissions and fees 9,175 13,672 11,385
Principal transactions 14,159 10,154 13,885
Administration and other fiduciary fees 3,784 3,943 3,472
Realized gains on sales of investments, net 67 665 1,756
Impairment losses on investments:      
Impairment losses on investments and other assets (499) (206) (165)
Provision for credit losses on AFS debt securities [1] 5 (3) (3)
Net impairment losses recognized in earnings (494) (209) (168)
Other revenue (21) 1,165 420
Total non-interest revenues 26,670 29,390 30,750
Total revenues, net of interest expense 75,338 71,884 75,501
Provisions for credit losses and for benefits and claims      
Provision for credit losses on loans 4,745 (3,103) 15,922
Provision for credit losses on held-to-maturity (HTM) debt securities 33 (3) 7
Provision for credit losses on other assets 76 0 7
Policyholder benefits and claims 94 116 113
Provision for credit losses on unfunded lending commitments 291 (788) 1,446
Total provisions for credit losses and for benefits and claims [2] 5,239 (3,778) 17,495
Operating expenses      
Compensation and benefits 26,655 25,134 22,214
Premises and equipment 2,320 2,314 2,333
Technology/communication 8,587 7,828 7,383
Advertising and marketing 1,556 1,490 1,217
Other operating 12,174 11,427 11,227
Total operating expenses 51,292 48,193 44,374
Income from continuing operations before income taxes 18,807 27,469 13,632
Provision for income taxes 3,642 5,451 2,525
Income from continuing operations 15,165 22,018 11,107
Discontinued operations      
Income (loss) from discontinued operations (272) 7 (20)
Benefit for income taxes (41) 0 0
Income (loss) from discontinued operations, net of taxes (231) 7 (20)
Net income before attribution of noncontrolling interests 14,934 22,025 11,087
Noncontrolling interests 89 73 40
Citigroup’s net income $ 14,845 $ 21,952 $ 11,047
Basic earnings per share      
Income from continuing operations (in dollars per share) [3] $ 7.16 $ 10.21 $ 4.75
Loss from discontinued operations, net of taxes (in dollars per share) [3] (0.12) 0 (0.01)
Net income (in dollars per share) [3] $ 7.04 $ 10.21 $ 4.74
Weighted average common shares outstanding (in shares) 1,946.7 2,033.0 2,085.8
Diluted earnings per share      
Income from continuing operations (in dollars per share) [3] $ 7.11 $ 10.14 $ 4.73
Loss from discontinued operations, net of taxes (in dollars per share) [3] (0.12) 0 (0.01)
Net income (in dollars per share) [3] $ 7.00 $ 10.14 $ 4.72
Adjusted weighted average common shares outstanding (in shares) 1,964.3 2,049.4 2,099.0
[1] n accordance with ASC 326, which requires the provision for credit losses on AFS securities to be included in revenue.
[2] This total excludes the provision for credit losses on AFS securities, which is disclosed separately above.
[3] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.