XML 32 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Interest income $ 36,223 $ 29,395
Interest expense 22,716 16,047
Net interest income 13,507 13,348
Commissions and fees 2,724 2,366
Principal transactions 3,274 3,939
Administration and other fiduciary fees 1,037 896
Realized gains on sales of investments, net 115 72
Impairment losses on investments:    
Impairment losses on investments (30) (86)
(Provision) releases for credit losses on AFS debt securities [1] 0 (1)
Net impairment losses recognized in earnings (30) (87)
Other revenue 477 913
Total non-interest revenues 7,597 8,099
Total revenues, net of interest expense 21,104 21,447
Provisions for credit losses and for benefits and claims    
Provision for credit losses on loans 2,422 1,737
Provision (release) for credit losses on HTM debt securities 10 (17)
Provision for credit losses on other assets 4 425
Policyholder benefits and claims 27 24
Provision (release) for credit losses on unfunded lending commitments (98) (194)
Total provisions for credit losses and for benefits and claims [2] 2,365 1,975
Operating expenses    
Compensation and benefits 7,673 7,538
Premises and equipment 585 598
Technology/communication 2,246 2,127
Advertising and marketing 228 331
Restructuring 225 0
Other operating 3,238 2,695
Total operating expenses 14,195 13,289
Income from continuing operations before income taxes 4,544 6,183
Provision for income taxes 1,136 1,531
Income from continuing operations 3,408 4,652
Discontinued operations    
Income (loss) from discontinued operations (1) (1)
Benefit for income taxes 0 0
Income (loss) from discontinued operations, net of taxes (1) (1)
Net income before attribution to noncontrolling interests 3,407 4,651
Noncontrolling interests 36 45
Citigroup’s net income $ 3,371 $ 4,606
Basic earnings per share    
Income from continuing operations (in dollars per share) [3] $ 1.60 $ 2.21
Income from discontinued operations, net of taxes (in dollars per share) [3] 0 0
Net income (in dollars per share) [3] $ 1.59 $ 2.21
Weighted-average common shares outstanding (in shares) 1,910.4 1,943.5
Diluted earnings per share    
Income from continuing operations (in dollars per share) [3] $ 1.58 $ 2.19
Income (loss) from discontinued operations, net of taxes (in dollars per share) [3] 0 0
Net income (in dollars per share) [3] $ 1.58 $ 2.19
Adjusted weighted-average diluted common shares outstanding (in shares) 1,943.2 1,964.1
[1] In accordance with ASC 326, which requires the provision for credit losses on AFS debt securities to be included in revenue.
[2] This total excludes the provision for credit losses on AFS debt securities, which is disclosed separately above.
[3] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.