SUBSIDIARY GUARANTEES

3 Months Ended

Mar. 31, 2024

Condensed Financial Information Disclosure [Abstract]

SUBSIDIARY GUARANTEES

SUBSIDIARY GUARANTEES

Citigroup 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 18). 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

	Three Months Ended
	March 31, 2024
In millions of dollars	Citigroup parent company		CGMHI
Total revenues, net of interest expense	$	(599)	$	3,102
Total operating expenses	64		3,122
Provision for credit losses	—		22
Equity in undistributed income of subsidiaries	3,950		—
Income (loss) from continuing operations before income taxes	$	3,287	$	(42)
Provision (benefit) for income taxes	(84)		21
Net income	$	3,371	$	(63)

SUMMARIZED BALANCE SHEET

	March 31, 2024				December 31, 2023
In millions of dollars	Citigroup parent company		CGMHI		Citigroup parent company		CGMHI
Cash and deposits with banks	$	3,028	$	22,608	$	3,011	$	23,756
Securities borrowed and purchased under resale agreements	—		284,284		—		283,174
Trading account assets	403		282,530		461		273,379
Advances to subsidiaries	156,366		—		150,845		—
Investments in subsidiary bank holding company	175,550		—		172,125		—
Investments in non-bank subsidiaries	46,386		—		46,870		—
Other assets	15,574		164,991		14,202		167,609
Total assets	$	397,307	$	754,413	$	387,514	$	747,918
Securities loaned and sold under agreements to repurchase	$	—	$	314,919	$	—	$	309,862
Trading account liabilities	171		110,462		300		111,233
Short-term borrowings	—		23,502		—		20,481
Long-term debt	166,724		183,440		162,309		184,083
Advances from subsidiaries	20,828		—		16,724		—
Other liabilities	2,999		85,548		2,728		85,079
Stockholders’ equity	206,585		36,542		205,453		37,180
Total liabilities and equity	$	397,307	$	754,413	$	387,514	$	747,918