Exhibit 99.3
Summary of Press Release Disclosed Items
Net Income Impact ($MM)
| 1Q04 | | 1Q05 | |
Global Consumer | | | | |
Cards | $33 | (1) | $(20) | (5) |
Consumer Finance | 20 | (1) | (24) | (5) |
Retail Banking | 39 | (1) | 133 | (5,6) |
Other | (3) | (1) | (109) | (7) |
| | | | |
Corporate & Investment Banking | | | | |
Capital Markets and Banking | 109 | (1,2) | (132) | (8) |
Transaction Services | 28 | (1,2) | (19) | (8) |
Other | 4 | (1) | — | |
| | | | |
Global Wealth Management | | | | |
Smith Barney | — | | (17) | (9) |
Private Bank | 5 | (1) | (5) | (9) |
| | | | |
Asset Management | 1 | (1) | (4) | (10) |
| | | | |
Alternative Investments | 2 | (1) | — | |
| | | | |
Corporate/Other | 194 | (1,3) | — | |
| | | | |
Discontinued Operations | 24 | (1,4) | — | |
(1) Credit to tax provision as a result of the closing of certain audit cycles of $150 comprised of $33 in Cards, $20 in Consumer Finance, $39 in Retail Banking, $(3) in Global Consumer Other, $23 in CM&B, $12 in GTS, $4 in CIB Other, $5 in Private Bank, $1 in Asset Management, $2 in Proprietary Investment Activities/Alternative Investments, $14 in Corporate/Other and $1 in LI&A/Discontinued Operations
(2) Release of corporate reserve for credit losses to reflect continued improvement in credit quality of $150 pre-tax ($102 after-tax comprised of $86 in CM&B and $16 in GTS)
(3) Gain on sale of EFS of $298 pre-tax ($180 after-tax) in Corporate/Other
(4) Tax benefit related to dividends received deduction of $23 in LI&A/Discontinued Operations
(5) Global Consumer repositioning expenses of $(150) pre-tax ($(95) after-tax) comprised of $(32) pre-tax ($(20) after-tax) in Cards, $(38) pre-tax ($(24) after-tax) in Consumer Finance and $(80) pre-tax ($(50) after-tax) in Retail Banking
(6) Gain on sale of CitiCapital Transportation Finance Business of $161 pre-tax ($111 after-tax) and gain relating to the resolution of previously disclosed litigation involving Golden State Bancorp of $114 pre-tax ($72 after-tax) in Retail Banking
(7) Loss on sale of Manufacturing Housing loan portfolio of $(176) pre-tax ($(109) after-tax) in Global Consumer Other
(8) CIB repositioning expenses of $(243) pre-tax ($(151) after-tax) comprised of $(212) pre-tax ($(132) after-tax) in CM&B and $(31) pre-tax ($(19) after-tax) in GTS
(9) GWM repositioning expenses of $(35) pre-tax ($(22) after-tax) comprised of $(28) pre-tax ($(17) after-tax) in Smith Barney and $(7) pre-tax ($(5) after-tax) in Private Bank
(10) Repositioning expense of $7 pre-tax ($4 after-tax) in Asset Management
