Exhibit 12.02
CITIGROUP INC. | |||||||||||||||||||||||||||
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES (1) | |||||||||||||||||||||||||||
INCLUDING PREFERRED STOCK DIVIDENDS | |||||||||||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||||
Years ended December 31, | June 30, | ||||||||||||||||||||||||||
In millions of dollars, except for ratios | 2014 | 2013 | 2012 | 2011 | 2010 | 2015 | 2014 | ||||||||||||||||||||
EXCLUDING INTEREST ON DEPOSITS: | |||||||||||||||||||||||||||
Fixed Charges | |||||||||||||||||||||||||||
Interest expense (other than interest on deposits) | $ | 7,998 | $ | 9,941 | $ | 12,922 | $ | 15,678 | $ | 16,725 | $ | 3,465 | $ | 4,288 | |||||||||||||
Interest factor in rent expense | 460 | 460 | 496 | 495 | 500 | 210 | 232 | ||||||||||||||||||||
Dividends--Preferred Stock | 511 | 194 | 26 | 26 | 9 | 330 | 224 | ||||||||||||||||||||
Total fixed charges | $ | 8,969 | $ | 10,595 | $ | 13,444 | $ | 16,199 | $ | 17,234 | $ | 4,005 | $ | 4,744 | |||||||||||||
Income | |||||||||||||||||||||||||||
Income from continuing operations before taxes and noncontrolling interests | $ | 14,701 | $ | 19,802 | $ | 8,165 | $ | 15,096 | $ | 13,513 | $ | 13,831 | $ | 8,257 | |||||||||||||
Fixed charges (including preferred stock dividends) | 8,969 | 10,595 | 13,444 | 16,199 | 17,234 | 4,005 | 4,744 | ||||||||||||||||||||
Total income | $ | 23,670 | $ | 30,397 | $ | 21,609 | $ | 31,295 | $ | 30,747 | $ | 17,836 | $ | 13,001 | |||||||||||||
Ratio of income to fixed charges excluding interest on deposits | 2.64 | 2.87 | 1.61 | 1.93 | 1.78 | 4.45 | 2.74 | ||||||||||||||||||||
INCLUDING INTEREST ON DEPOSITS: | |||||||||||||||||||||||||||
Fixed Charges | |||||||||||||||||||||||||||
Interest expense | $ | 13,690 | $ | 16,177 | $ | 20,612 | $ | 24,209 | $ | 25,057 | $ | 6,079 | $ | 7,206 | |||||||||||||
Interest factor in rent expense | 460 | 460 | 496 | 495 | 500 | 210 | 232 | ||||||||||||||||||||
Dividends--Preferred Stock | 511 | 194 | 26 | 26 | 9 | 330 | 224 | ||||||||||||||||||||
Total fixed charges | $ | 14,661 | $ | 16,831 | $ | 21,134 | $ | 24,730 | $ | 25,566 | $ | 6,619 | $ | 7,662 | |||||||||||||
Income | |||||||||||||||||||||||||||
Income from continuing operations before taxes and noncontrolling interests | $ | 14,701 | $ | 19,802 | $ | 8,165 | $ | 15,096 | $ | 13,513 | $ | 13,831 | $ | 8,257 | |||||||||||||
Fixed charges (including preferred stock dividends) | 14,661 | 16,831 | 21,134 | 24,730 | 25,566 | 6,619 | 7,662 | ||||||||||||||||||||
Total income | $ | 29,362 | $ | 36,633 | $ | 29,299 | $ | 39,826 | $ | 39,079 | $ | 20,450 | $ | 15,919 | |||||||||||||
Ratio of income to fixed charges including interest on deposits | 2.00 | 2.18 | 1.39 | 1.61 | 1.53 | 3.09 | 2.08 | ||||||||||||||||||||
(1) | Citigroup adopted Accounting Standards Update (ASU) 2014-01, Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects in the first quarter of 2015. The ASU is applicable to Citigroup’s portfolio of low income housing tax credit partnership interests. The adoption of this ASU was applied retrospectively, and among other items, impacts Citigroup’s Income from continuing operations before taxes and non-controlling interests for all periods presented. See Citi’s Current Report on Form 8-K furnished to the SEC on April 8, 2015. |