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CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Citigroup stockholders' equity
Preferred stock at aggregate liquidation value
Total Citigroup common stockholders’ equity
Common stock and additional paid-in capital (APIC)
Retained earnings
Retained earnings
Cumulative Effect, Period of Adoption, Adjustment
[1]
Retained earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Treasury stock, at cost
Citigroup's accumulated other comprehensive income (loss)
Citigroup's accumulated other comprehensive income (loss)
Cumulative Effect, Period of Adoption, Adjustment
Citigroup's accumulated other comprehensive income (loss)
Cumulative Effect, Period of Adoption, Adjusted Balance
Noncontrolling interests
Balance, beginning of period at Dec. 31, 2021     $ 18,995   $ 108,034 $ 184,948 $ 0 $ 184,948 $ (71,240) $ (38,765) $ 0 $ (38,765) $ 700
Increase (Decrease) in Stockholders' Equity                          
Issuance of new preferred stock     0                    
Employee benefit plans         206       502 [2]        
Other         1 1             1
Net income before attribution of noncontrolling interests $ 8,891         8,853             38
Common dividends [3]           (2,024)              
Preferred dividends (517)         (517)              
Treasury stock acquired [4]                 (3,250)        
Transactions between Citigroup and noncontrolling-interest shareholders                         (34)
Distributions paid to noncontrolling-interest shareholders                         (11)
Citigroup’s total other comprehensive income                   (6,730)     (82)
Net change in noncontrolling interests                         (88)
Balance, end of period at Jun. 30, 2022 199,626 $ 199,014 18,995 $ 180,019 108,241 191,261     (73,988) (45,495)     612
Balance, beginning of period at Mar. 31, 2022     18,995   108,081 187,962 0 187,962 (73,744) (43,585) 0 [1] (43,585) 644
Increase (Decrease) in Stockholders' Equity                          
Issuance of new preferred stock     0                    
Employee benefit plans         160       6 [2]        
Other         0 0             2
Net income before attribution of noncontrolling interests 4,568         4,547             21
Common dividends [3]           (1,010)              
Preferred dividends (238)         (238)              
Treasury stock acquired [4]                 (250)        
Transactions between Citigroup and noncontrolling-interest shareholders                         (1)
Distributions paid to noncontrolling-interest shareholders                         (1)
Citigroup’s total other comprehensive income                   (1,910)     (53)
Net change in noncontrolling interests                         (32)
Balance, end of period at Jun. 30, 2022 199,626 199,014 18,995 180,019 108,241 191,261     (73,988) (45,495)     612
Balance, beginning of period at Dec. 31, 2022 201,838   18,995   108,489 194,734 290 195,024 (73,967) (47,062) 27 (47,035) 649
Increase (Decrease) in Stockholders' Equity                          
Issuance of new preferred stock     1,250                    
Employee benefit plans         126       720 [2]        
Other         (5) 0             8
Net income before attribution of noncontrolling interests 7,602         7,521             81
Common dividends [3]           (2,004)              
Preferred dividends (565)         (565)              
Treasury stock acquired [4]                 (1,000)        
Transactions between Citigroup and noncontrolling-interest shareholders                         1
Distributions paid to noncontrolling-interest shareholders                         (82)
Citigroup’s total other comprehensive income                   1,170     46
Net change in noncontrolling interests                         54
Balance, end of period at Jun. 30, 2023 209,422 208,719 20,245 188,474 108,610 199,976     (74,247) (45,865)     703
Balance, beginning of period at Mar. 31, 2023     20,245   108,400 198,353 $ 0 $ 198,353 (73,262) (45,441) $ 0 [1] $ (45,441) 724
Increase (Decrease) in Stockholders' Equity                          
Issuance of new preferred stock     0                    
Employee benefit plans         210       15 [2]        
Other         0 0             (1)
Net income before attribution of noncontrolling interests 2,951         2,915             36
Common dividends [3]           (1,004)              
Preferred dividends (288)         (288)              
Treasury stock acquired [4]                 (1,000)        
Transactions between Citigroup and noncontrolling-interest shareholders                         1
Distributions paid to noncontrolling-interest shareholders                         (71)
Citigroup’s total other comprehensive income                   (424)     14
Net change in noncontrolling interests                         (21)
Balance, end of period at Jun. 30, 2023 $ 209,422 $ 208,719 $ 20,245 $ 188,474 $ 108,610 $ 199,976     $ (74,247) $ (45,865)     $ 703
[1] See Note 1 for additional details.
[2] Includes treasury stock related to (i) certain activity on employee stock option program exercises where the employee delivers existing shares to cover the option exercise, or (ii) under Citi’s employee restricted or deferred stock programs where shares are withheld to satisfy tax requirements.
[3] Common dividends declared were $0.51 per share for each of the first and second quarters of 2023 and 2022.
[4] Primarily consists of open market purchases under Citi’s Board of Directors-approved common stock repurchase program.