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 15, 2004
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
(Exact name of registrant as specified in its charter)
- ---------------------------------------------------------------------------
New York 1-15286 11-2418067
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.)
of incorporation)
388 Greenwich Street, New York, NY 10013
- ---------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(212) 816-6000
- ---------------------------------------------------------------------------
(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 period ended March 31, 2004 and 2003 and
provides certain additional financial information.
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
SELECTED FINANCIAL DATA
(Unaudited, dollars in millions)
March 31,
--------------------
2004 2003
---- ----
Total stockholder's equity $ 16,057 $ 13,705
Three
Months Ended
March 31,
-----------------
2004 2003
---- ----
Revenues:
Commissions $ 1,197 $ 823
Asset management and administration fees 1,005 798
Investment banking 882 827
Principal transactions 310 621
Other 44 27
------ ------
Total non-interest revenues 3,438 3,096
------ ------
Interest and dividends 2,194 2,032
Interest expense 1,230 1,372
------ ------
Net interest and dividends 964 660
------ ------
Revenues, net of interest expense 4,402 3,756
------ ------
Non-interest expenses:
Compensation and benefits 2,355 2,035
Floor brokerage and other production 191 158
Communications 141 167
Occupancy and equipment 137 136
Professional services 128 80
Advertising and market development 76 60
Other operating and administrative expenses 81 82
------ ------
Total non-interest expenses 3,109 2,718
------ ------
Income before income taxes 1,293 1,038
Provision for income taxes 472 388
------ ------
Net income $ 821 $ 650
======== ========
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 15, 2004 CITIGROUP GLOBAL MARKETS HOLDINGS INC.
By: /s/Cliff Verron
------------------------
Cliff Verron
Controller