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EARNINGS PER SHARE (Tables)
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
In millions of dollars, except per share amounts2024202320242023
Earnings per common share
Income from continuing operations before attribution of noncontrolling interests$3,263 $2,952 $6,671 $7,604 
Less: Noncontrolling interests from continuing operations46 36 82 81 
Net income from continuing operations (for EPS purposes)$3,217 $2,916 $6,589 $7,523 
Income (loss) from discontinued operations, net of taxes— (1)(1)(2)
Citigroup’s net income$3,217 $2,915 $6,588 $7,521 
Less: Preferred dividends242 288 521 565 
Net income available to common shareholders$2,975 $2,627 $6,067 $6,956 
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
32 33 77 68 
Net income allocated to common shareholders for basic EPS$2,943 $2,594 $5,990 $6,888 
Weighted-average common shares outstanding applicable to basic EPS (in millions)
1,907.7 1,942.8 1,909.1 1,943.2 
Basic earnings per share(2)
Income from continuing operations$1.54 $1.34 $3.14 $3.55 
Discontinued operations— — — — 
Net income per share—basic(4)
$1.54 $1.34 $3.14 $3.54 
Diluted earnings per share
Net income allocated to common shareholders for basic EPS$2,943 $2,594 $5,990 $6,888 
Add back: Dividends allocated to employee restricted and deferred shares with rights to dividends that are forfeitable19 15 34 26 
Net income allocated to common shareholders for diluted EPS$2,962 $2,609 $6,024 $6,914 
Weighted-average common shares outstanding applicable to basic EPS (in millions)
1,907.7 1,942.8 1,909.1 1,943.2 
Effect of dilutive securities(3)
Other employee plans38.0 25.8 35.3 23.1 
Adjusted weighted-average common shares outstanding applicable to diluted EPS
(in millions)
1,945.7 1,968.6 1,944.4 1,966.3 
Diluted earnings per share(2)
    
Income from continuing operations$1.52 $1.33 $3.10 $3.52 
Discontinued operations— — — — 
Net income per share—diluted(4)
$1.52 $1.33 $3.10 $3.52 

(1)Other relevant items include issuance costs of $8 million in the second quarter of 2024 related to the redemption of preferred stock Series D, $12 million in the first quarter of 2024 related to the remaining redemption of preferred stock Series J, and a benefit of $14 million in 2Q24 related to the reversal of the 1% excise tax on preferred stock redemptions during 2023 due to the IRS final regulations issued in June 2024. The issuance costs were reclassified from Additional paid-in capital to Retained earnings upon redemption of the preferred stock. See Note 20. The total for this line also includes dividends and undistributed earnings ($38 million combined for the second quarter of 2024) allocated to employee restricted and deferred shares with rights to dividends.
(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 three and six months ended June 30, 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.