EX-12.01 3 a2185406zex-12_01.htm EXHIBIT 12.01
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Exhibit 12.01

CITIGROUP INC.
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES

 
   
   
   
   
   
  Three Months Ended
March 31,

 
  Year ended December 31,
In millions of dollars, except for ratios

  2007
  2006(1)(2)
  2005(1)(2)
  2004(1)(2)
  2003(1)(2)
  2008
  2007
EXCLUDING INTEREST ON DEPOSITS:                                          

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Interest expense (other than interest on deposits)   $ 49,622   $ 35,682   $ 23,120   $ 13,271   $ 9,942   $ 10,235   $ 11,192
Interest factor in rent expense     681     570     516     487     460     194     154
   
 
 
 
 
 
 
Total fixed charges   $ 50,303   $ 36,252   $ 23,636   $ 13,758   $ 10,402   $ 10,429   $ 11,346
   
 
 
 
 
 
 

Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes   $ 1,701   $ 29,639   $ 29,433   $ 22,736   $ 25,170   $ (9,023 ) $ 6,921
Fixed charges (excluding preferred stock dividends)     50,303     36,252     23,636     13,758     10,402     10,429     11,346
   
 
 
 
 
 
 
Total income   $ 52,004   $ 65,891   $ 53,069   $ 36,494   $ 35,572   $ 1,406   $ 18,267
   
 
 
 
 
 
 

Ratio of income to fixed charges excluding interest on deposits

 

 

1.03

 

 

1.82

 

 

2.25

 

 

2.65

 

 

3.42

 

 

0.13

 

 

1.61
   
 
 
 
 
 
 

INCLUDING INTEREST ON DEPOSITS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Interest expense   $ 77,531   $ 56,943   $ 36,676   $ 22,004   $ 17,184   $ 16,477   $ 17,562
Interest factor in rent expense     681     570     516     487     460     194     154
   
 
 
 
 
 
 
Total fixed charges   $ 78,212   $ 57,513   $ 37,192   $ 22,491   $ 17,644   $ 16,671   $ 17,716
   
 
 
 
 
 
 

Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes   $ 1,701   $ 29,639   $ 29,433   $ 22,736   $ 25,170   $ (9,023 ) $ 6,921
Fixed charges (excluding preferred stock dividends)     78,212     57,513     37,192     22,491     17,644     16,671     17,716
   
 
 
 
 
 
 
Total income   $ 79,913   $ 87,152   $ 66,625   $ 45,227   $ 42,814   $ 7,648   $ 24,637
   
 
 
 
 
 
 

Ratio of income to fixed charges including interest on deposits

 

 

1.02

 

 

1.52

 

 

1.79

 

 

2.01

 

 

2.43

 

 

0.46

 

 

1.39
   
 
 
 
 
 
 

(1)
On December 1, 2005, Citigroup completed the sale of substantially all of Citigroup's Asset Management Business to Legg Mason, Inc. Citigroup reports these businesses separately as discontinued operations in the Company's Consolidated Statement of Income. The calculation of the ratio of income to fixed charges excludes discontinued operations. Prior periods have been restated on a comparable basis.

(2)
On July 1, 2005, Citigroup completed the sale of Citigroup's Travelers Life & Annuity and substantially all of Citigroup's international insurance businesses to MetLife, Inc. Citigroup reports these businesses separately as discontinued operations in the Company's Consolidated Statement of Income.



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