SUBSIDIARY GUARANTEES

9 Months Ended

Sep. 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


	Nine Months Ended
	September 30, 2023
In millions of dollars	Citigroup parent company		CGMHI
Total revenues, net of interest expense	$	10,080	$	8,494
Total operating expenses	138		8,856
Provision for credit losses	—		29
Equity in undistributed income of subsidiaries	343		—
Income (loss) from continuing operations before income taxes	$	10,285	$	(391)
Provision (benefit) for income taxes	(782)		5
Net income	$	11,067	$	(396)

SUMMARIZED BALANCE SHEET


	September 30, 2023				December 31, 2022
In millions of dollars	Citigroup parent company		CGMHI		Citigroup parent company		CGMHI
Cash and deposits with banks	$	3,018	$	20,385	$	3,015	$	27,122
Securities borrowed and purchased under resale agreements	—		271,275		—		306,273
Trading account assets	557		260,593		306		209,957
Advances to subsidiaries	151,911		—		146,843		—
Investments in subsidiary bank holding company	175,310		—		172,721		—
Investments in non-bank subsidiaries	47,644		—		48,295		—
Other assets	14,766		179,700		13,788		163,819
Total assets	$	393,206	$	731,953	$	384,968	$	707,171
Securities loaned and sold under agreements to repurchase	$	—	$	294,354	$	—	$	245,916
Trading account liabilities	205		104,799		604		115,929
Short-term borrowings	1,500		25,929		—		43,850
Long-term debt	160,571		184,859		166,257		172,068
Advances from subsidiaries	17,803		—		14,562		—
Other liabilities	3,624		83,858		2,356		90,570
Stockholders’ equity	209,503		38,154		201,189		38,838
Total liabilities and equity	$	393,206	$	731,953	$	384,968	$	707,171