SUBSIDIARY GUARANTEES

6 Months Ended

Jun. 30, 2023

Condensed Financial Information Disclosure [Abstract]

SUBSIDIARY GUARANTEESCitigroup Inc. has fully and unconditionally guaranteed the payments due on debt securities issued by Citigroup Global Markets Holdings Inc. (CGMHI), a wholly owned subsidiary, under the Senior Debt Indenture dated as of March 8, 2016, between CGMHI, Citigroup Inc. and The Bank of New York Mellon, as trustee. In addition, Citigroup Capital III and Citigroup Capital XIII (collectively, the Capital Trusts), each of which is a wholly owned finance subsidiary of Citigroup Inc., have issued trust preferred securities. Citigroup Inc. has guaranteed the payments due on the trust preferred securities to the extent that the Capital Trusts have insufficient available

funds to make payments on the trust preferred securities. The guarantee, together with Citigroup Inc.’s other obligations with respect to the trust preferred securities, effectively provides a full and unconditional guarantee of amounts due on the trust preferred securities (see Note 17 for additional information). No other subsidiary of Citigroup Inc. guarantees the debt securities issued by CGMHI or the trust preferred securities issued by the Capital Trusts.

Summarized financial information for Citigroup Inc. and CGMHI is presented in the tables below:

SUMMARIZED INCOME STATEMENT


	Six Months Ended
	June 30, 2023
In millions of dollars	Citigroup parent company		CGMHI
Total revenues, net of interest expense	$	6,584	$	5,960
Total operating expenses	99		5,911
Provision for credit losses	—		23
Equity in undistributed income of subsidiaries	581		—
Income (loss) from continuing operations before income taxes	$	7,066	$	26
Provision (benefit) for income taxes	(455)		54
Net income	$	7,521	$	(28)

SUMMARIZED BALANCE SHEET


	June 30, 2023				December 31, 2022
In millions of dollars	Citigroup parent company		CGMHI		Citigroup parent company		CGMHI
Cash and deposits with banks	$	3,016	$	21,506	$	3,015	$	27,122
Securities borrowed and purchased under resale agreements	—		276,820		—		306,273
Trading account assets	262		271,512		306		209,957
Advances to subsidiaries	152,188		—		146,843		—
Investments in subsidiary bank holding company	175,277		—		172,721		—
Investments in non-bank subsidiaries	48,010		—		48,295		—
Other assets	15,896		171,046		13,788		163,819
Total assets	$	394,649	$	740,884	$	384,968	$	707,171
Securities loaned and sold under agreements to repurchase	$	—	$	292,491	$	—	$	245,916
Trading account liabilities	578		114,874		604		115,929
Short-term borrowings	—		26,731		—		43,850
Long-term debt	163,043		186,966		166,257		172,068
Advances from subsidiaries	19,579		—		14,562		—
Other liabilities	2,730		81,446		2,356		90,570
Stockholders’ equity	208,719		38,376		201,189		38,838
Total liabilities and equity	$	394,649	$	740,884	$	384,968	$	707,171