DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2012

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

2.    DISCONTINUED OPERATIONS

Sale of Egg Banking PLC Credit Card Business

        On March 1, 2011, the Company announced that Egg Banking plc (Egg), an indirect subsidiary which was part of the Citi Holdings segment, entered into a definitive agreement to sell its credit card business to Barclays PLC. The sale closed on April 28, 2011.

        An after-tax gain on sale of $126 million was recognized upon closing. Egg operations had total assets and total liabilities of approximately $2.7 billion and $39 million, respectively, at the time of sale.

        Summarized financial information for Discontinued operations, including cash flows, for the credit card operations related to Egg follows:

	Three Months Ended March 31,
In millions of dollars	2012			2011
Total revenues, net of interest expense(1)	$	1		$	126
Income from discontinued operations	$	(3	)	$	61
Gain on sale		(1	)		—
Provision for income taxes		(1	)		21
Income from discontinued operations, net of taxes	$	(3	)	$	40
Cash flows from operating activities	$	—		$	—
Cash flows from investing activities		—			—
Cash flows from financing activities		—			—
Net cash provided by discontinued operations	$	—		$	—

(1)

Total revenues include gain or loss on sale, if applicable.

Combined Results for Discontinued Operations

        The following is summarized financial information for the Egg credit card business and previous discontinued operations, for which Citi continues to have minimal residual costs associated with the sales.

	Three Months Ended March 31,
In millions of dollars	2012			2011
Total revenues, net of interest expense(1)	$	1		$	130
Income from discontinued operations	$	(3	)	$	60
Gain on sale		(1	)		4
Provision (benefit) for income taxes		1			24
Income from discontinued operations, net of taxes	$	(5	)	$	40
Cash flows from operating activities	$	—		$	—
Cash flows from investing activities		—			—
Cash flows from financing activities		—			—
Net cash provided by (used in) discontinued operations	$	—		$	—

(1)

Total revenues include gain or loss on sale, if applicable.