Citigroup (C) 10-Q 2015 Q3 Quarterly report

Exhibit 12.02

CITIGROUP INC.
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES (1)
INCLUDING PREFERRED STOCK DIVIDENDS
											Nine Months Ended
	Years ended December 31,										September 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	$	5,191	$	6,196
Interest factor in rent expense	460		460		496		495		500		312		347
Dividends--Preferred Stock	511		194		26		26		9		504		352
Total fixed charges	$	8,969	$	10,595	$	13,444	$	16,199	$	17,234	$	6,007	$	6,895
Income
Income from continuing operations before taxes and noncontrolling interests	$	14,701	$	19,802	$	8,165	$	15,096	$	13,513	$	20,018	$	13,241
Fixed charges (including preferred stock dividends)	8,969		10,595		13,444		16,199		17,234		6,007		6,895
Total income	$	23,670	$	30,397	$	21,609	$	31,295	$	30,747	$	26,025	$	20,136
Ratio of income to fixed charges excluding interest on deposits	2.64		2.87		1.61		1.93		1.78		4.33		2.92
INCLUDING INTEREST ON DEPOSITS:
Fixed Charges
Interest expense	$	13,690	$	16,177	$	20,612	$	24,209	$	25,057	$	9,020	$	10,531
Interest factor in rent expense	460		460		496		495		500		312		347
Dividends--Preferred Stock	511		194		26		26		9		504		352
Total fixed charges	$	14,661	$	16,831	$	21,134	$	24,730	$	25,566	$	9,836	$	11,230
Income
Income from continuing operations before taxes and noncontrolling interests	$	14,701	$	19,802	$	8,165	$	15,096	$	13,513	$	20,018	$	13,241
Fixed charges (including preferred stock dividends)	14,661		16,831		21,134		24,730		25,566		9,836		11,230
Total income	$	29,362	$	36,633	$	29,299	$	39,826	$	39,079	$	29,854	$	24,471
Ratio of income to fixed charges including interest on deposits	2.00		2.18		1.39		1.61		1.53		3.04		2.18

(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.