EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

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:

In millions of dollars, except per share amounts	2022		2021		2020
Earnings per common share
Income from continuing operations before attribution of noncontrolling interests	$	15,165	$	22,018	$	11,107
Less: Noncontrolling interests from continuing operations	89		73		40
Net income from continuing operations (for EPS purposes)	$	15,076	$	21,945	$	11,067
Loss from discontinued operations, net of taxes	(231)		7		(20)
Citigroup’s net income	$	14,845	$	21,952	$	11,047
Less: Preferred dividends(1)	1,032		1,040		1,095
Net income available to common shareholders	$	13,813	$	20,912	$	9,952
Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with rights to dividends, applicable to basic EPS	113		154		73
Net income allocated to common shareholders for basic EPS	$	13,700	$	20,758	$	9,879
Weighted-average common shares outstanding applicable to basic EPS (in millions)	1,946.7		2,033.0		2,085.8
Basic earnings per share(2)
Income from continuing operations	$	7.16	$	10.21	$	4.75
Discontinued operations	(0.12)		—		(0.01)
Net income per share—basic	$	7.04	$	10.21	$	4.74
Diluted earnings per share
Net income allocated to common shareholders for basic EPS	$	13,700	$	20,758	$	9,879
Add back: Dividends allocated to employee restricted and deferred shares with rights to dividends that are forfeitable	41		31		30
Net income allocated to common shareholders for diluted EPS	$	13,741	$	20,789	$	9,909
Weighted-average common shares outstanding applicable to basic EPS (in millions)	$	1,946.7	$	2,033.0	$	2,085.8
Effect of dilutive securities
Options(3)	—		—		0.1
Other employee plans	17.6		16.4		13.1
Adjusted weighted-average common shares outstanding applicable to diluted EPS (in millions)(4)	1,964.3		2,049.4		2,099.0
Diluted earnings per share(2)
Income from continuing operations	$	7.11	$	10.14	$	4.73
Discontinued operations	(0.12)		—		(0.01)
Net income per share—diluted	$	7.00	$	10.14	$	4.72

(1)See Note 21 for the potential future impact of preferred stock dividends.

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

(3)During 2022 and 2021, there were no weighted-average options outstanding. During 2020, weighted-average options to purchase 0.1 million shares of common stock were outstanding but not included in the computation of earnings per share because the weighted-average exercise price of $56.25 per share was anti-dilutive.

(4)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.