EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Reconciliation of the income and share data used in the basic and diluted earnings per share computations

The following table reconciles the income and share data used in the basic and diluted earnings per share (EPS) computations:

	Three Months Ended March 31,
In millions of dollars, except per share amounts	2024		2023
Earnings per common share
Income from continuing operations before attribution of noncontrolling interests	$	3,408	$	4,652
Less: Noncontrolling interests from continuing operations	36		45
Net income from continuing operations (for EPS purposes)	$	3,372	$	4,607
Income (loss) from discontinued operations, net of taxes	(1)		(1)
Citigroup’s net income	$	3,371	$	4,606
Less: Preferred dividends	279		277
Net income available to common shareholders	$	3,092	$	4,329
Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with rights to dividends, and other relevant items(1), applicable to basic EPS	45		34
Net income allocated to common shareholders for basic EPS	$	3,047	$	4,295
Weighted-average common shares outstanding applicable to basic EPS (in millions)	1,910.4		1,943.5
Basic earnings per share(2)
Income from continuing operations	$	1.60	$	2.21
Discontinued operations	—		—
Net income per share—basic(4)	$	1.59	$	2.21
Diluted earnings per share
Net income allocated to common shareholders for basic EPS	$	3,047	$	4,295
Add back: Dividends allocated to employee restricted and deferred shares with rights to dividends that are forfeitable	15		11
Net income allocated to common shareholders for diluted EPS	$	3,062	$	4,306
Weighted-average common shares outstanding applicable to basic EPS (in millions)	1,910.4		1,943.5
Effect of dilutive securities(3)
Other employee plans	32.8		20.6
Adjusted weighted-average common shares outstanding applicable to diluted EPS (in millions)	1,943.2		1,964.1
Diluted earnings per share(2)
Income from continuing operations	$	1.58	$	2.19
Discontinued operations	—		—
Net income per share—diluted(4)	$	1.58	$	2.19

(1)Other relevant items include issuance costs of $12 million related to the remaining redemption of preferred stock Series J. These issuance costs were reclassified from Additional paid-in capital to Retained earnings upon redemption of the preferred stock. See Note 20.

(2)Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.

(3)    During the first quarters of 2024 and 2023, there were no weighted-average options outstanding.

(4)    Due to rounding, income from continuing operations and discontinued operations may not sum to net income per share—diluted.