Exhibit 99.3
Summary of Press Release Disclosed Items
Net Income Impact ($MM)
| | 1Q'05
| | 1Q'06
| |
|---|
| | Cards | | $ | (12 | )(4) | $ | 76 | (8, 9, 10) |
| | Retail Distribution | | | 70 | (2, 4) | | 28 | (8, 9, 10) |
| | Consumer Lending | | | (2 | )(4) | | 26 | (8, 9, 10) |
| | Commercial Business Group | | | 108 | (1, 4) | | (3 | )(8, 9, 10) |
| US Consumer | | | 164 | | | 128 | |
| | Cards | | | (9 | )(4) | | 15 | (8, 9, 10) |
| | Consumer Finance | | | (24 | )(4) | | (3 | )(9, 10) |
| | Retail Banking | | | (44 | )(4) | | 32 | (8, 9, 10) |
| International Consumer | | | (77 | ) | | 44 | |
| | Other Consumer | | | (109 | )(3) | | 24 | (8, 9, 10) |
| Global Consumer | | | (22 | ) | | 196 | |
| | |
| |
| |
| | Capital Markets and Banking | | | (132 | )(5) | | (122 | )(8, 9, 10) |
| | Transaction Services | | | (19 | )(5) | | 19 | (8, 9, 10) |
| | Other | | | — | | | — | |
| Corporate & Investment Banking | | | (151 | ) | | (103 | ) |
| | |
| |
| |
| | Smith Barney | | | (17 | )(6) | | (107 | )(9, 10) |
| | Private Bank | | | (5 | )(6) | | 1 | (8, 9, 10) |
| Global Wealth Management | | | (22 | ) | | (106 | ) |
| | |
| |
| |
| Alternative Investments | | | — | | | 53 | (8, 9, 10) |
| | |
| |
| |
| Corporate / Other | | | — | | | 38 | (8, 9, 10) |
| | |
| |
| |
| Discontinued Operations | | | (4 | )(7) | | 59 | (8) |
| | |
| |
| |
- (1)
- Gain on sale of CitiCapital Transportation Finance Business of $161 pre-tax ($111 after-tax) in the Commercial Business Group
- (2)
- $114 pre-tax ($72 after-tax) in Retail Distribution relating to the resolution of previously disclosed litigation involving Golden State Bancorp
- (3)
- Loss on sale of Manufacturing Housing of ($176) pre-tax (($109) after-tax) in Consumer Other
- (4)
- Repositioning expenses of ($150) pre-tax (($95) after-tax) comprised of ($19) (($12) after-tax) in US Cards, ($3) (($2) after-tax) in Retail Distribution, ($3) (($2) after-tax) in Consumer Lending, ($4) (($3) after-tax) in Commercial Business Group, ($13) (($9) after-tax) in Intl Cards, ($38) (($24) after-tax) in Intl Consumer Finance and ($70) (($44) after-tax) in Intl Retail Banking
- (5)
- Repositioning expenses of ($243) pre-tax (($151) after-tax) comprised of ($212) (($132) after-tax) in CM&B and ($31) (($19) after-tax) in GTS
- (6)
- Repositioning expenses of ($35) pre-tax (($22) after-tax) comprised of ($28) (($17) after-tax) in Smith Barney and ($7) (($5) after-tax) in Private Bank
- (7)
- Repositioning expenses of ($7) pre-tax (($4) after-tax) in Discontinued Operations (related to Asset Management)
- (8)
- Tax benefits related to favorable resolution of an audit of $657 comprised of $89 in US Cards, $51 in US Retail Distribution, $31 in Consumer Lending, $4 in Commercial Business Group, $20 in International Cards, $55 in International Retail Banking, $40 in Other Consumer, $151 in CM&B, $25 in GTS, $13 in the Private Bank, $58 in Alternative Investments, $61 in Corporate/Other and $59 in Discontinued Operations
- (9)
- Impact of FAS 123(R) charge for stock awards granted to retirement-eligible employees in 2006 for the 2005 performance year of (($648) pre-tax) ($398) after-tax comprised of ($10) in US Cards, ($18) in Retail Distribution, ($4) in Consumer Lending, ($6) in Commercial Business Group, ($4) in International Cards, ($2) in International Consumer Finance, ($18) in International Retail Banking, ($13) in Other Consumer, ($215) in CM&B, ($5) in GTS, ($78) in Smith Barney, ($10) in the Private Bank, ($4) in Alternative Investments, ($11) in Corporate Other
- (10)
- Impact of FAS 123(R) accrual of estimated cost of stock awards for retirement-eligible employees that were earned in the first quarter 2006 of (($198) pre-tax) ($122) after-tax comprised of ($3) in US Cards, ($4) in Retail Distribution, ($1) in Consumer Lending, ($1) in Commercial Business Group, ($1) in International Cards, ($1) in International Consumer Finance, ($5) in International Retail Banking, ($3) in Other Consumer, ($58) in CM&B, ($1) in GTS, ($29) in Smith Barney, ($2) in the Private Bank, ($1) in Alternative Investments, ($12) in Corporate Other
Note: impact of 1Q'06 LLR activity can be found in page 37 of the Financial Supplement.
