Citigroup (C) 10-Q2010 Q1 Quarterly report

Filed: 7 May 10, 12:00am

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Bad

New words: Abu, ADIA, AFP, Africa, andcould, andInstitutional, andNet, andSpecial, andTotal, andTransaction, Arab, ARB, areobservable, arose, array, asbelieve, asConsumer, asMortgage, aSpecial, asTotal, aswill, backlog, BAM, Banco, bar, behavior, billon, blank, Boston, bothTotal, broader, Bulletin, byICG, byLCL, carryforward, ceding, certainty, Chicago, Chile, Chilean, climate, Club, compete, consecutive, constrained, coupled, crude, CSE, dampening, death, deployment, Dhabi, difficulty, discipline, distinction, divesting, earliest, East, eitherOther, enterprise, episodic, error, Europe, eventual, export, extraordinary, fall, fewer, FFEL, FFELP, FI, footprint, foregoing, forestall, forLocal, forNorth, fortifying, foundation, founding, Francisco, freely, fromBrokerage, front, frozen, gas, Germany, Ginnie, greatest, Habitat, Handlowy, HFS, hire, history, Hong, implicit, inBAM, inBrokerage, increasingly, indeterminate, inGoodwill, inLCL, inRCB, inRegional, inSAP, inSpecial, intentionally, interrelationship, introductory, IPO, IRE, IRS, itsLocal, knowledge, Kong, LATAM, left, lineChange, lineProvision, LLR, Los, LQIF, LTC, LTIP, lump, Mae, Malaysia, MC, Medicare, merger, metric, metropolitan, Miami, moratoria, MSSB, multinational, mutual, NA, NAV, noncore, notAccumulated, notch, ofFederal, ofSAP, ofTotal, oil, onNet, orInterest, OTC, ourBrokerage, ourRegional, outperformance, overdraft, pace, Patient, phenomenon, Philadelphia, physical, physically, policyholder, population, predominately, presence, presumption, prevent, Primerica, proportionally, proportionate, protocol, quickly, rata, RCB, reacquire, recession, reconfiguration, reliant, renegotiated, repo, Research, resold, retiree, robust, RWA, San, SAP, seasonal, SFS, shift, shifting, SLC, sought, strategic, stricter, strongest, subsidy, supplementary, surveillance, Taiwan, theLocal, theNorth, thenot, theSAP, theSpecial, throughoutLatin, toLATAM, totalRCB, traditional, trended, trillion, TTS, uncapped, underLCL, underserved, unilateral, unilaterally, unparalleled, unpredictability, unrecognized, upcoming, urban, Virtually, whichEMEA, widespread, withinTrading, withinTransaction, worldwide, worth, XII, XXIX

Removed: accelerated, accreted, acquirer, adhere, advancing, aggregated, al, alleged, AMERIQUEST, analyzed, andAdditional, APB, appeal, appealed, approving, ARR, ascribed, assessing, assumption, assure, avenue, begun, bilaterally, borne, BRECHER, calendar, canceled, capture, centralized, chase, Circuit, cleveland, commencing, communicating, communication, competitive, complaint, Comptroller, confidential, confirm, contemplation, contemporaneously, context, continuity, continuously, cooperating, coordinate, count, covenant, curtailment, deal, deem, defendant, denied, deployed, depositary, deposited, depreciable, develop, deviation, diligently, dislocation, dismissed, disposing, district, domestic, ECA, economy, effort, eligibility, enforceable, ERISA, establish, estimable, exchanged, exercisable, expand, expensed, explained, expressly, extreme, Falcon, FHLMC, flowing, foot, Force, forma, FRB, fromOther, goal, governance, governmental, Greece, guaranteeing, hand, hearing, horizon, huff, inactive, inAdditional, inadequate, infrequently, initiative, inRetained, instance, investigation, judicial, Legg, Lehman, literature, LLC, lowered, managedNorth, marketplace, Mason, MAT, matching, misconduct, modeling, motion, Multidistrict, narrow, narrowed, necessity, nominal, nonconsolidated, nonforfeitable, Notwithstanding, Nuisance, obtainable, office, ofRetained, onexpected, opposed, orAdditional, originally, OTTI, owner, Panel, Park, passive, PELLEGRINI, persist, plaintiff, Polish, positively, presently, prioritize, proactive, procurement, produce, prohibited, promote, protected, putative, qualitatively, question, rationalize, reclassed, recognizing, redundant, reflective, remand, remarking, replacement, repositioning, representational, reputation, requested, rest, rollforward, schedule, scheduled, secure, seek, seniority, sentence, serve, shared, sharing, shortened, Southern, spending, spirit, split, stage, step, Sterling, streamlined, substantive, substituted, suitable, summarizing, Supplement, Supreme, syndicated, tandem, TARP, Task, telephone, theCommon, therelated, thrift, toAdditional, transactional, transparent, trough, TRS, uncollateralized, unexpected, unhedged, USG, UST, utilized, vast, vigorously, vitality, weight, widen, widened, Work, workforce, writing, Zloty

Search this filing

Filing tables

Export all tables to Excel

Filing exhibits

Related press release

C similar filings

Filing view

Default size S M L
Default font Times Arial

External links

Share this filing

Exhibit 12.02

CITIGROUP INC.

CALCULATION OF RATIO OF INCOME TO FIXED CHARGES

INCLUDING PREFERRED STOCK DIVIDENDS

													Three Months Ended
	Year ended December 31,												March 31,
In millions of dollars, except for ratios	2009 (1)(2)(3)(4)			2008 (1)(2)(3)			2007 (1)(2)(3)		2006 (2)(3)(4)(5)		2005 (2)(3)(4)(5)		2010(1)(2)(3)(4)		2009(1)(2)(3)
EXCLUDING INTEREST ON DEPOSITS:

Fixed Charges
Interest expense (other than interest on deposits)	$	17,530		$	33,027		$	48,387	$	34,743	$	22,298	$	4,189	$	4,840
Interest factor in rent expense	522			734			623		556		502		123		142
Dividends—Preferred Stock	22,708			2,830			51		93		98		0		1,901
Total fixed charges	$	40,760		$	36,591		$	49,061	$	35,392	$	22,898	$	4,312	$	6,883

Income
Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes	$	(7,799	)	$	(52,355	)	$	646	$	28,489	$	28,557	$	5,285	$	2,529
Fixed charges (excluding preferred stock dividends)	18,052			33,761			49,010		35,299		22,800		4,312		4,982
Total income	$	10,253		$	(18,594	)	$	49,656	$	63,788	$	51,357	$	9,597	$	7,511

Ratio of income to fixed charges excluding interest on deposits	NM			NM			1.01		1.80		2.24		2.23		1.09

INCLUDING INTEREST ON DEPOSITS:

Fixed Charges
Interest expense	$	27,721		$	52,750		$	75,958	$	55,683	$	35,631	$	6,291	$	7,657
Interest factor in rent expense	522			734			623		556		502		123		142
Dividends—Preferred Stock	22,708			2,830			51		93		98		—		1,901
Total fixed charges	$	50,951		$	56,314		$	76,632	$	56,332	$	36,231	$	6,414	$	9,700

Income
Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes	$	(7,799	)	$	(52,355	)	$	646	$	28,489	$	28,557	$	5,285	$	2,529
Fixed charges (excluding preferred stock dividends)	28,243			53,484			76,581		56,239		36,133		6,414		7,799
Total income	$	20,444		$	1,129		$	77,227	$	84,728	$	64,690	$	11,699	$	10,328

Ratio of income to fixed charges including interest on deposits	NM			NM			1.01		1.50		1.79		1.82		1.06

(1) On May 1, 2009, Citigroup announced an agreement to sell its Nikko Cordial Securities to Sumitomo Mitsui Banking Corporation (hereafter SMBC). Citigroup reports these businesses 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.

(2) On July 11, 2008, the Company announced an agreement to sell its German retail banking operations to Credit Mutuel. Citigroup reports these businesses 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) On April 17, 2008, Citigroup announced an agreement to sell most of Citigroup’s CitiCapital business unit to GE Capital. Citigroup reports these businesses 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.

(4) On December 1, 2005, Citigroup completed the sale of substantially all of Citigroup’s Asset Management Business to Legg Mason, Inc. Citigroup reports these businesses separately as discontinued operations in the Company’s Consolidated Statement of Income.

(5) On July 1, 2005, Citigroup completed the sale of Citigroup’s Travelers Life & Annuity and substantially all of Citigroup’s international insurance businesses to MetLife, Inc. Citigroup reports these businesses separately as discontinued operations in the Company’s Consolidated Statement of Income.