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) July 15, 2004
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
(Exact name of registrant as specified in its charter)
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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
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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- and six-month periods ended June 30, 2004 and 2003
and provides certain additional financial information.
CITIGROUP GLOBAL MARKETS HOLDINGS INC.
SELECTED FINANCIAL DATA
(Unaudited, dollars in millions)
June 30,
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2004 2003
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Total stockholder's equity $ 16,543 $ 14,127
Three Six
Months Ended Months Ended
June 30, June 30,
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2004 2003 2004 2003
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Revenues:
Commissions $ 986 $ 936 $2,183 $1,759
Asset management and administration fees 1,031 795 2,036 1,593
Investment banking 884 1,065 1,766 1,892
Principal transactions 255 620 565 1,241
Other 178 68 222 95
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Total non-interest revenues 3,334 3,484 6,772 6,580
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Interest and dividends 2,220 2,113 4,414 4,145
Interest expense 1,308 1,377 2,538 2,749
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Net interest and dividends 912 736 1,876 1,396
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Revenues, net of interest expense 4,246 4,220 8,648 7,976
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Non-interest expenses:
Compensation and benefits 2,200 2,269 4,555 4,304
Floor brokerage and other production 191 180 382 338
Communications 226 168 367 335
Occupancy and equipment 134 135 271 271
Professional services 123 97 251 177
Advertising and market development 93 69 169 129
Other operating and administrative expenses 6,656 96 6,737 178
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Total non-interest expenses 9,623 3,014 12,732 5,732
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Income (loss) before income taxes (5,377) 1,206 (4,084) 2,244
Provision (benefit) for income taxes (2,049) 467 (1,577) 855
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Net income (loss) ($3,328) $ 739 ($2,507) $1,389
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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: July 15, 2004 CITIGROUP GLOBAL MARKETS HOLDINGS INC.
By: /s/Cliff Verron
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Cliff Verron
Controller