XML 29 R2.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Interest revenue $ 34,837 $ 19,919 $ 96,879 $ 48,700
Interest expense 21,009 7,356 55,803 13,302
Net interest income 13,828 12,563 41,076 35,398
Commissions and fees 2,195 2,139 6,693 7,159
Principal transactions 3,008 2,625 9,475 11,740
Administration and other fiduciary fees 971 915 2,856 2,904
Realized gains on sales of investments, net 30 52 151 74
Impairment losses on investments:        
Impairment losses on investments and other assets (70) (91) (227) (277)
(Provision) releases for credit losses on AFS debt securities [1] (1) 5 (1) 7
Net impairment losses recognized in earnings (71) (86) (228) (270)
Other revenue 178 300 999 327
Total non-interest revenues 6,311 5,945 19,946 21,934
Total revenues, net of interest expense 20,139 18,508 61,022 57,332
Provisions for credit losses and for benefits and claims        
Provision for credit losses on loans 1,816 1,328 5,314 2,972
Provision (release) for credit losses on HTM debt securities (3) 10 (24) 28
Provision for credit losses on other assets 56 73 630 76
Policyholder benefits and claims 25 25 63 74
Provision (release) for credit losses on unfunded lending commitments (54) (71) (344) 244
Total provisions for credit losses and for benefits and claims [2] 1,840 1,365 5,639 [3] 3,394 [3]
Operating expenses        
Compensation and benefits 7,424 6,745 22,350 20,037
Premises and equipment 620 557 1,813 1,719
Technology/communication 2,256 2,145 6,692 6,229
Advertising and marketing 324 407 1,016 1,132
Other operating 2,887 2,895 8,499 9,190
Total operating expenses 13,511 12,749 40,370 38,307
Income from continuing operations before income taxes 4,788 4,394 15,013 15,631
Provision for income taxes 1,203 879 3,824 3,002
Income from continuing operations 3,585 3,515 11,189 12,629
Discontinued operations        
Income (loss) from discontinued operations 2 (6) 0 (270)
Benefit for income taxes 0 0 0 (41)
Income (loss) from discontinued operations, net of taxes 2 (6) 0 (229)
Net income before attribution to noncontrolling interests 3,587 3,509 11,189 12,400
Noncontrolling interests 41 30 122 68
Citigroup’s net income $ 3,546 $ 3,479 $ 11,067 $ 12,332
Basic earnings per share        
Income from continuing operations (in dollars per share) [4] $ 1.64 $ 1.64 $ 5.19 $ 5.99
Income from discontinued operations, net of taxes (in dollars per share) [4] 0 0 0 (0.12)
Net income (in dollars per share) [4] $ 1.64 $ 1.64 $ 5.19 $ 5.87
Weighted average common shares outstanding (in shares) 1,924.4 1,936.8 1,936.9 1,950.0
Diluted earnings per share        
Income from continuing operations (in dollars per share) [4] $ 1.63 $ 1.63 $ 5.14 $ 5.95
Income (loss) from discontinued operations, net of taxes (in dollars per share) [4] 0 0 0 (0.12)
Net income (in dollars per share) [4] $ 1.63 $ 1.63 $ 5.14 $ 5.84
Adjusted weighted average diluted common shares outstanding (in shares) 1,951.7 1,955.1 1,961.5 1,967.1
[1] In 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] 2022 amounts have been revised to conform to the current-period presentation.
[4] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.