PREFERRED STOCK (Tables)

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Summary of preferred stock outstanding

The following table summarizes the Company’s preferred stock outstanding:

					Redemption price per depositary share/preference share			Carrying value  (in millions of dollars)
	Issuance date	Redeemable by issuer beginning	Dividend rate  as of December 31, 2023				Number of depositary shares	December 31, 2023		December 31, 2022
Series A(1)	October 29, 2012	January 30, 2023	N/A		$	1,000	1,500,000	$	—	$	1,500
Series B(2)	December 13, 2012	February 15, 2023	N/A		1,000		750,000	—		750
Series D(3)	April 30, 2013	May 15, 2023	3-mo. SOFR+ 3.72761		1,000		1,250,000	1,250		1,250
Series J(4)	September 19, 2013	September 30, 2023	3-mo. SOFR+ 4.30161		25		22,000,000	550		950
Series K(5)	October 31, 2013	November 15, 2023	N/A		25		59,800,000	—		1,495
Series M(6)	April 30, 2014	May 15, 2024	6.300	%	1,000		1,750,000	1,750		1,750
Series P(7)	April 24, 2015	May 15, 2025	5.950		1,000		2,000,000	2,000		2,000
Series T(8)	April 25, 2016	August 15, 2026	6.250		1,000		1,500,000	1,500		1,500
Series U(9)	September 12, 2019	September 12, 2024	5.000		1,000		1,500,000	1,500		1,500
Series V(10)	January 23, 2020	January 30, 2025	4.700		1,000		1,500,000	1,500		1,500
Series W(11)	December 10, 2020	December 10, 2025	4.000		1,000		1,500,000	1,500		1,500
Series X(12)	February 18, 2021	February 18, 2026	3.875		1,000		2,300,000	2,300		2,300
Series Y(13)	October 27, 2021	November 15, 2026	4.150		1,000		1,000,000	1,000		1,000
Series Z(14)	March 7, 2023	May 15, 2028	7.375		1,000		1,250,000	1,250		—
Series AA(15)	September 21, 2023	November 15, 2028	7.625		1,000		1,500,000	1,500		—
								$	17,600	$	18,995

(1)Citi redeemed Series A in its entirety on October 30, 2023.

(2)Citi redeemed Series B in its entirety on August 15, 2023.

(3)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Beginning in the third quarter of 2023, dividends are payable quarterly on February 15, May 15, August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors. The spread incorporates the original contractual spread and a 0.26161% tenor spread adjustment.

(4)Issued as depositary shares, each representing a 1/1,000th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Citi redeemed $400 million of Series J on December 29, 2023. Beginning in the fourth quarter of 2023, dividends are payable quarterly on March 30, June 30, September 30 and December 30 at a floating rate, in each case when, as and if declared by the Citi Board of Directors. The spread incorporates the original contractual spread and a 0.26161% tenor spread adjustment.

(5)Citi redeemed Series K in its entirety on November 15, 2023.

(6)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are payable semiannually on May 15 and November 15 at a fixed rate until, but excluding, May 15, 2024, thereafter payable quarterly on February 15, May 15, August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(7)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are payable semiannually on May 15 and November 15 at a fixed rate until, but excluding, May 15, 2025, and thereafter payable quarterly on February 15, May 15, August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(8)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are payable semiannually on February 15 and August 15 at a fixed rate until, but excluding, August 15, 2026, thereafter payable quarterly on February 15, May 15, August 15 and November 15 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(9)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are payable semiannually on March 12 and September 12 at a fixed rate until, but excluding, September 12, 2024, thereafter payable quarterly on March 12, June 12, September 12 and December 12 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(10)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are payable semiannually on January 30 and July 30 at a fixed rate until, but excluding, January 30, 2025, thereafter payable quarterly on January 30, April 30, July 30 and October 30 at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(11)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are payable quarterly on March 10, June 10, September 10 and December 10 at a fixed rate until, but excluding, December 10, 2025, thereafter payable quarterly on the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(12)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are payable quarterly on February 18, May 18, August 18 and November 18 at a fixed rate until, but excluding, February 18, 2026, thereafter payable quarterly on the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(13)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are payable quarterly on February 15, May 15, August 15 and November 15 at a fixed rate until, but excluding, November 15, 2026, thereafter payable quarterly on the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(14)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are payable quarterly on February 15, May 15, August 15 and November 15 at a fixed rate until, but excluding, May 15, 2028, thereafter payable quarterly on the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

(15)Issued as depositary shares, each representing a 1/25th interest in a share of the corresponding series of non-cumulative perpetual preferred stock. Dividends are payable quarterly on February 15, May 15, August 15 and November 15 at a fixed rate until, but excluding, November 15, 2028, thereafter payable quarterly on the same dates at a floating rate, in each case when, as and if declared by the Citi Board of Directors.

N/A Not applicable, as the series has been redeemed.