UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 14, 2003
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
(Exact name of registrant as specified in its charter)
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New York 1-4346 11-2418067
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.)
of incorporation)
388 Greenwich Street, New York, NY 10013
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(Address of principal executive offices) (Zip Code)
(212) 816-6000
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(Registrant's telephone number, including area code)
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
Current Report on Form 8-K
Item 5. Other Events
Results of Operations
(Unaudited)
This report summarizes the results of operations of Citigroup Global Markets
Holdings Inc. for the three-month periods ended March 31, 2003 and 2002 and
provides certain additional financial information. Certain prior amounts
have been reclassified or restated to conform to the current period
presentation.
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
SELECTED FINANCIAL DATA
(Unaudited, dollars in millions)
March 31,
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2003 2002
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Total stockholder's equity $ 13,705 $ 12,065
Three
Months Ended
March 31,
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2003 2002
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Revenues:
Investment banking $ 827 $ 916
Commissions 823 955
Asset management and administration fees 798 922
Principal transactions 621 607
Other 27 (4)
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Total noninterest revenues 3,096 3,396
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Interest and dividends 2,032 2,231
Interest expense 1.372 1,553
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Net interest and dividends 660 678
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Revenues, net of interest expense 3,756 4,074
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Noninterest expenses:
Compensation and benefits 2,035 2,257
Communications 167 152
Floor Brokerage and other production 158 144
Occupancy and equipment 136 127
Professional services 80 53
Advertising & Market Development 60 69
Other operating and administrative expenses 82 70
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Total noninterest expenses 2,718 2,872
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Income before income taxes and cumulative
effect of change in accounting principle 1,038 1,202
Provision for income taxes 388 449
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Income before cumulative effect of
change in accounting principle 650 753
Cumulative effect of change in accounting
principle (net of tax benefit of $16) - (24)
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Net income $ 650 $ 729
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: April 14, 2003 CITIGROUP GLOBAL MARKETS HOLDINGS INC.
By: /s/Cliff Verron
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Cliff Verron
Controller