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CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities of continuing operations    
Net income before attribution of noncontrolling interests $ 6,670 $ 7,602
Net income attributable to noncontrolling interests 82 81
Citigroup’s net income 6,588 7,521
Income (loss) from discontinued operations, net of taxes (1) (2)
Income from continuing operations—excluding noncontrolling interests 6,589 7,523
Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations    
Net loss (gain) on sale of significant disposals [1] 0 (1,059)
Depreciation and amortization 2,211 2,247
Deferred income taxes (953) (852)
Provisions for credit losses and for benefits and claims [2] 4,841 3,799
Realized gains from sales of investments (138) (121)
Impairment losses on investments and other assets 47 157
Change in trading account assets (34,677) (89,164)
Change in trading account liabilities (4,086) 17
Change in brokerage receivables net of brokerage payables (566) (6,443)
Change in loans held-for-sale (HFS) (1,281) 1,405
Change in other assets (1,528) (4,884)
Change in other liabilities(2) [3] (6,470) (3,101)
Other, net 8,220 5,932
Total adjustments (34,380) (92,067)
Net cash provided by (used in) operating activities of continuing operations (27,791) (84,544)
Cash flows from investing activities of continuing operations    
Change in securities borrowed and purchased under agreements to resell 27,730 28,298
Change in loans (5,440) (8,750)
Proceeds from sales and securitizations of loans 1,667 2,154
Net payment due to transfer of net liabilities associated with divestitures [1] 0 (29)
Available-for-sale (AFS) debt securities    
Purchases of investments (129,401) (114,278)
Proceeds from sales of investments 23,392 29,897
Proceeds from maturities of investments 108,561 105,204
Held-to-maturity debt securities    
Purchases of investments (7,393) (664)
Proceeds from maturities of investments 10,247 4,369
Capital expenditures on premises and equipment and capitalized software (3,251) (3,125)
Proceeds from sales of premises and equipment and repossessed assets 174 11
Other, net 827 (370)
Net cash provided by (used in) investing activities of continuing operations 27,113 42,717
Cash flows from financing activities of continuing operations    
Dividends paid (2,543) (2,547)
Issuance of preferred stock 2,291 1,245
Redemption of preferred stock (1,800) 0
Treasury stock acquired (524) (1,000)
Stock tendered for payment of withholding taxes (443) (322)
Change in securities loaned and sold under agreements to repurchase 27,099 57,591
Issuance of long-term debt 48,083 32,689
Payments and redemptions of long-term debt (49,245) (35,984)
Change in deposits (30,544) (46,087)
Change in short-term borrowings 1,237 (6,666)
Net cash provided by (used in) financing activities of continuing operations (6,389) (1,081)
Effect of exchange rate changes on cash, due from banks and deposits with banks (7,731) (2,209)
Change in cash, due from banks and deposits with banks (14,798) (45,117)
Cash, due from banks and deposits with banks at beginning of period 260,932 342,025
Cash, due from banks and deposits with banks at end of period 246,134 296,908
Cash and due from banks (including segregated cash and other deposits) 26,917 25,763
Deposits with banks, net of allowance 219,217 271,145
Cash, due from banks and deposits with banks at end of period 246,134 296,908
Supplemental disclosure of cash flow information for continuing operations    
Cash paid during the period for income taxes 3,181 3,031
Cash paid during the period for interest 44,179 31,803
Non-cash investing activities    
Transfer of investment securities from HTM to AFS [1],[4],[5] 0 3,324
Transfers to loans HFS (Other assets) from loans HFI [1],[4],[5] 2,359 4,730
Transfers from loans HFS (Other assets) to loans HFI [1],[4],[5] $ 0 $ 322
[1] See Note 2.
[2] This total excludes the provision for credit losses on AFS debt securities, which is disclosed separately above.
[3]     Includes balances related to the FDIC special assessment and restructuring charges (see Note 9).
[4] Operating and finance lease right-of-use assets and lease liabilities represent non-cash investing and financing activities, respectively, and are not included in the non-cash investing activities presented here. See Note 26 for more information and balances as of June 30, 2024.
[5] n January 2023, Citi adopted ASU 2022-01. Upon adoption, Citi transferred $3.3 billion of mortgage-backed securities from HTM classification to AFS classification as allowed under the ASU. At the time of transfer, the securities were in an unrealized gain position of $0.1 billion, which was recorded in AOCI upon transfer.