7.3 billion - Citigroup

RESULTS OF OPERATIONSSUMMARY OF SELECTED FINANCIAL DATA—Page 1Citigroup Inc. and Consolidated SubsidiariesFirst QuarterIn millions of dollars, except per-share amounts, ratios and direct staff 2012 (1) 2011 % ChangeNet interest revenue $11,947 $ 12,102 (1)%Non-interest revenue 7,459 7,624 (2)Revenues, net of interest expense $19,406 $19,726 (2)%Operating expenses 12,319 12,326 —Provisions for credit losses and for benefits and claims 3,019 3,184 (5)%Income from continuing operations before income taxes $ 4,068 $ 4,216 (4)%Income taxes 1,006 1,185 (15)Income from continuing operations $ 3,062 $ 3,031 1%Income (loss) from discontinued operations, net of taxes (1) (5) 40 NMNet income before attribution of noncontrolling interests $ 3,057 $ 3,071 —Net income attributable to noncontrolling interests 126 72 75%Citigroup’s net income $ 2,931 $ 2,999 (2)%Less:Preferred dividends—Basic $ 4 $ 4 —Dividends and undistributed earnings allocated to employee restricted and deferredshares that contain nonforfeitable rights to dividends, applicable to Basic EPS 54 35 54%Income allocated to unrestricted common shareholders for Basic EPS $ 2,873 $ 2,960 (3)%Add: Interest expense, net of tax, on convertible securities and adjustment ofundistributed earnings allocated to employee restricted and deferred shares thatcontain nonforfeitable rights to dividends, applicable to diluted EPS 4 1 NMIncome allocated to unrestricted common shareholders for diluted EPS $ 2,877 $ 2,961 (3)%Earnings per share (2)BasicIncome from continuing operations $ 0.98 $ 1.01 (3)%Net income 0.98 1.02 (4)DilutedIncome from continuing operations $ 0.96 $ 0.97 (1)%Net income 0.95 0.99 (4)Dividends declared per common share 0.01 — NMStatement continues on the next page, including notes to the table.7CITIGROUP – 2012 FIRST QUARTER 10-Q