Citigroup (C) 10-Q2004 Q1 Quarterly report

Filed: 5 May 04, 12:00am

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Exhibit 12.01

CITIGROUP INC.

CALCULATION OF RATIO OF INCOME TO FIXED CHARGES

											Three Months Ended March 31,
	Year ended December 31,
In millions of dollars, except for ratios	Year ended December 31,
In millions of dollars, except for ratios	2003		2002(2)		2001(2)		2000(1)(2)		1999(1)(2)		2004		2003(3)
EXCLUDING INTEREST ON DEPOSITS:
Fixed Charges
Interest expense (other than interest on deposits)	$	10,364	$	12,659	$	20,090	$	23,072	$	17,687	$	2,681	$	2,788
Interest factor in rent expense		466		451		444		416		292		117		119

Total fixed charges	$	10,830	$	13,110	$	20,534	$	23,488	$	17,979	$	2,798	$	2,907

Income
Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes	$	26,333	$	20,537	$	20,519	$	19,297	$	16,247	$	7,740	$	6,060
Fixed charges (excluding preferred stock dividends)		10,830		13,110		20,534		23,488		17,979		2,798		2,907

Total income	$	37,163	$	33,647	$	41,053	$	42,785	$	34,226	$	10,538	$	8,967

Ratio of income to fixed charges excluding interest on deposits		3.43		2.57		2.00		1.82		1.90		3.77		3.08

INCLUDING INTEREST ON DEPOSITS:
Fixed Charges
Interest expense (other than interest on deposits)	$	17,271	$	21,248	$	31,793	$	36,459	$	28,498	$	4,488	$	4,663
Interest factor in rent expense		466		451		444		416		292		117		119

Total fixed charges	$	17,737	$	21,699	$	32,237	$	36,875	$	28,790	$	4,605	$	4,782

Income
Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes	$	26,333	$	20,537	$	20,519	$	19,297	$	16,247	$	7,740	$	6,060
Fixed charges (excluding preferred stock dividends)		17,737		21,699		32,237		36,875		28,790		4,605		4,782

Total income	$	44,070	$	42,236	$	52,756	$	56,172	$	45,037	$	12,345	$	10,842

Total income		2.48		1.95		1.64		1.52		1.56		2.68		2.27

Ratio of income to fixed charges including interest on deposits

(1): On November 30, 2000, Citigroup completed its acquisition of Associates First Capital Corporation (Associates) in a transaction accounted for as a pooling of interests.
(2): On August 20, 2002, Citigroup completed the distribution to its stockholders of a majority portion of its remaining ownership interest in Travelers Property Casualty Corp. (TPC) (an indirect wholly-owned subsidiary of Citigroup on December 31, 2001). Following the distribution, Citigroup began reporting TPC separately as discontinued operations in the Company's Consolidated Statement of Income. The calculation of the ratio of income to fixed charges excludes discontinued operations. Prior periods have been restated on a comparable basis.
(3): Reclassified to conform to the current period's presentation.

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CITIGROUP INC. CALCULATION OF RATIO OF INCOME TO FIXED CHARGES