Citigroup (C) 10-Q 2016 Q2 Quarterly report

Exhibit 12.01

CITIGROUP INC.
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES (1)
											Six Months Ended
	Years ended December 31,										June 30,
In millions of dollars, except for ratios	2015		2014		2013		2012		2011		2016		2015
EXCLUDING INTEREST ON DEPOSITS:
Fixed Charges
Interest expense (other than interest on deposits)	$	6,869	$	7,998	$	9,941	$	12,922	$	15,678	$	3,550	$	3,465
Interest factor in rent expense	414		460		460		496		495		184		210
Total fixed charges	$	7,283	$	8,458	$	10,401	$	13,418	$	16,173	$	3,734	$	3,675
Income
Income from continuing operations before taxes and noncontrolling interests	$	24,826	$	14,701	$	19,802	$	8,165	$	15,096	$	10,757	$	13,831
Fixed charges (excluding preferred stock dividends)	7,283		8,458		10,401		13,418		16,173		3,734		3,675
Total income	$	32,109	$	23,159	$	30,203	$	21,583	$	31,269	$	14,491	$	17,506
Ratio of income to fixed charges excluding interest on deposits	4.41		2.74		2.90		1.61		1.93		3.88		4.76
INCLUDING INTEREST ON DEPOSITS:
Fixed Charges
Interest expense	$	11,921	$	13,690	$	16,177	$	20,612	$	24,209	$	6,060	$	6,079
Interest factor in rent expense	414		460		460		496		495		184		210
Total fixed charges	$	12,335	$	14,150	$	16,637	$	21,108	$	24,704	$	6,244	$	6,289
Income
Income from continuing operations before taxes and noncontrolling interests	$	24,826	$	14,701	$	19,802	$	8,165	$	15,096	$	10,757	$	13,831
Fixed charges (excluding preferred stock dividends)	12,335		14,150		16,637		21,108		24,704		6,244		6,289
Total income	$	37,161	$	28,851	$	36,439	$	29,273	$	39,800	$	17,001	$	20,120
Ratio of income to fixed charges including interest on deposits	3.01		2.04		2.19		1.39		1.61		2.72		3.20

(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.