EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2025

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	2025		2024
Earnings per common share
Income from continuing operations before attribution of noncontrolling interests	$	4,108	$	3,408
Less: Noncontrolling interests from continuing operations	43		36
Net income from continuing operations (for EPS purposes)	$	4,065	$	3,372
Loss from discontinued operations, net of taxes	(1)		(1)
Citigroup’s net income	$	4,064	$	3,371
Less: Preferred dividends	269		279
Net income available to common shareholders	$	3,795	$	3,092
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	44		45
Net income allocated to common shareholders for basic EPS	$	3,751	$	3,047
Weighted-average common shares outstanding applicable to basic EPS (in millions)	1,879.0		1,910.4
Basic earnings per share
Income from continuing operations	$	2.00	$	1.60
Discontinued operations	—		—
Net income per share—basic(2)	$	2.00	$	1.59
Diluted earnings per share
Net income allocated to common shareholders for basic EPS	$	3,751	$	3,047
Add back: Dividends allocated to employee restricted and deferred shares with rights to dividends that are forfeitable	17		15
Net income allocated to common shareholders for diluted EPS	$	3,768	$	3,062
Weighted-average common shares outstanding applicable to basic EPS (in millions)	1,879.0		1,910.4
Effect of dilutive securities(3)
Other employee plans	40.6		32.8
Adjusted weighted-average common shares outstanding applicable to diluted EPS (in millions)	1,919.6		1,943.2
Diluted earnings per share
Income from continuing operations	$	1.96	$	1.58
Discontinued operations	—		—
Net income per share—diluted(2)	$	1.96	$	1.58

(1)Other relevant items in 2025 include issuance costs of $4 million related to the redemption of preferred stock Series V. 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 ($40 million combined for 1Q25) 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 months ended March 31, 2025 and 2024, there were no weighted-average options outstanding.