Citigroup (C) 10-Q 2018 Q2 Quarterly report

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	2017		2016		2015		2014		2013		2018		2017
EXCLUDING INTEREST ON DEPOSITS:
Fixed Charges
Interest expense (other than interest on deposits)	$	9,932	$	7,212	$	6,869	$	7,998	$	9,692	$	6,804	$	4,584
Interest factor in rent expense	345		361		414		460		467		240		175
Dividends—Preferred Stock	1,213		1,077		769		511		194		590		621
Total fixed charges	$	11,490	$	8,650	$	8,052	$	8,969	$	10,353	$	7,634	$	5,380
Income
Income from continuing operations before taxes and noncontrolling interests	$	22,761	$	21,477	$	24,826	$	14,701	$	19,802	$	12,035	$	11,659
Fixed charges (including preferred stock dividends)	11,490		8,650		8,052		8,969		10,353		7,634		5,380
Total income	$	34,251	$	30,127	$	32,878	$	23,670	$	30,155	$	19,669	$	17,039
Ratio of income to fixed charges excluding interest on deposits	2.98		3.48		4.08		2.64		2.91		2.58		3.17
INCLUDING INTEREST ON DEPOSITS:
Fixed Charges
Interest expense	$	16,518	$	12,512	$	11,922	$	13,690	$	15,928	$	11,045	$	7,602
Interest factor in rent expense	345		361		414		460		467		240		175
Dividends—Preferred Stock	1,213		1,077		769		511		194		590		621
Total fixed charges	$	18,076	$	13,950	$	13,105	$	14,661	$	16,589	$	11,875	$	8,398
Income
Income from continuing operations before taxes and noncontrolling interests	$	22,761	$	21,477	$	24,826	$	14,701	$	19,802	$	12,035	$	11,659
Fixed charges (including preferred stock dividends)	18,076		13,950		13,105		14,661		16,589		11,875		8,398
Total income	$	40,837	$	35,427	$	37,931	$	29,362	$	36,391	$	23,910	$	20,057
Ratio of income to fixed charges including interest on deposits	2.26		2.54		2.89		2.00		2.19		2.01		2.39

(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 noncontrolling interests for all periods presented. See Citi’s Current Report on Form 8-K furnished to the SEC on April 8, 2015.