SUBSIDIARY GUARANTEES

9 Months Ended

Sep. 30, 2024

Condensed Financial Information Disclosure [Abstract]

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


	Nine Months Ended
	September 30, 2024
In millions of dollars	Citigroup parent company		CGMHI
Total revenues, net of interest expense	$	2,454	$	8,870
Total operating expenses	222		9,300
Provision for credit losses	—		15
Equity in undistributed income of subsidiaries	7,067		—
Income (loss) from continuing operations before income taxes	$	9,299	$	(445)
Provision (benefit) for income taxes	(527)		156
Net income (loss)	$	9,826	$	(601)

SUMMARIZED BALANCE SHEET


	September 30, 2024				December 31, 2023
In millions of dollars	Citigroup parent company		CGMHI		Citigroup parent company		CGMHI
Cash and deposits with banks	$	4,021	$	20,604	$	3,011	$	23,756
Securities borrowed and purchased under resale agreements	—		229,063		—		283,174
Trading account assets	435		315,659		461		273,379
Advances to subsidiaries	153,041		—		150,845		—
Investments in subsidiary bank holding company	179,577		—		172,125		—
Investments in non-bank subsidiaries	46,565		—		46,870		—
Other assets	14,941		170,885		14,202		167,609
Total assets	$	398,580	$	736,211	$	387,514	$	747,918
Securities loaned and sold under agreements to repurchase	$	—	$	300,713	$	—	$	309,862
Trading account liabilities	329		99,877		300		111,233
Short-term borrowings	—		26,629		—		20,481
Long-term debt	170,649		185,522		162,309		184,083
Advances from subsidiaries	15,838		—		16,724		—
Other liabilities	2,681		87,182		2,728		85,079
Stockholders’ equity	209,083		36,288		205,453		37,180
Total liabilities and equity	$	398,580	$	736,211	$	387,514	$	747,918