Citigroup (C) 10-K2017 FY Annual report

Filed: 23 Feb 18, 12:00am

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Removed: Abu, accelerating, ADIA, adjustable, AG, amending, amplify, anticipating, arbitration, artificially, assertion, Australian, begin, Beller, Bernal, BLACKROCK, Brinkema, BSA, capability, CCA, cease, Center, Chesney, Club, collateralization, communication, consuming, Conti, CTA, cv, Dakota, deal, decreasing, deductible, deferring, Dhabi, disabled, discharged, draft, drilling, enjoin, factual, FIN, Folio, footnote, fragmentation, fundamental, Hamilton, hearing, homebuilder, Hoyt, ICDR, impose, indemnified, initiation, Inspector, internationally, introduced, Iowa, Island, Jeffrey, Joan, Jr, Laporte, leveraging, LIHTC, Lorenz, lowered, manipulated, medical, misstated, Mueller, muted, notwithstanding, objection, onboarding, opportunity, Pa, packaging, participated, Penglai, Pratt, preeminent, prescriptive, prioritize, proportional, Qingdao, rationalization, REALTY, recapitalized, recovered, remediate, repatriated, repatriating, rescission, Restrepo, retrospectively, ruble, rulemaking, Russian, Ryu, SA, safety, salary, Sammartino, Secondarily, Seybert, shape, Shearman, slower, Snyder, Spero, sponsorship, stored, subpoena, supplement, Tex, thematic, Thompson, Tigar, train, Transportation, Ukraine, unparalleled, Walsh, week, Weerasinghe, west, wind, withdrawn, yen

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Exhibit 12.01



CITIGROUP INC.
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES ⁽¹⁾

	Years ended December 31,
In millions of dollars, except for ratios	2017		2016		2015		2014		2013
EXCLUDING INTEREST ON DEPOSITS:

Fixed Charges
Interest expense (other than interest on deposits)	$	9,931	$	7,211	$	6,869	$	7,998	$	9,941
Interest factor in rent expense	345		361		414		460		460
Total fixed charges	$	10,276	$	7,572	$	7,283	$	8,458	$	10,401

Income
Income from continuing operations before taxes and noncontrolling interests	$	22,761	$	21,477	$	24,826	$	14,701	$	19,802
Fixed charges (excluding preferred stock dividends)	10,276		7,572		7,283		8,458		10,401
Total income	$	33,037	$	29,049	$	32,109	$	23,159	$	30,203

Ratio of income to fixed charges excluding interest on deposits	3.21		3.84		4.41		2.74		2.90


INCLUDING INTEREST ON DEPOSITS:

Fixed Charges
Interest expense	$	16,517	$	12,511	$	11,921	$	13,690	$	16,177
Interest factor in rent expense	345		361		414		460		460
Total fixed charges	$	16,862	$	12,872	$	12,335	$	14,150	$	16,637

Income
Income from continuing operations before taxes and noncontrolling interests	$	22,761	$	21,477	$	24,826	$	14,701	$	19,802
Fixed charges (excluding preferred stock dividends)	16,862		12,872		12,335		14,150		16,637
Total income	$	39,623	$	34,349	$	37,161	$	28,851	$	36,439

Ratio of income to fixed charges including interest on deposits	2.35		2.67		3.01		2.04		2.19

(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.