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Ex-12.02
CITIGROUP, INC.
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES
INCLUDING PREFERRED STOCK DIVIDENDS
(In Millions)
<Table>
<Caption>
Six Months
YEAR ENDED DECEMBER 31, June 30,
EXCLUDING INTEREST ON DEPOSITS: 2000 1999 1998 1997 1996 2001 2000
------ ------ ------ ------ ------ ------ ------
FIXED CHARGES:
INTEREST EXPENSE (OTHER THAN
INTEREST ON DEPOSITS) 23,253 17,764 18,997 17,645 14,776 11,525 10,504
INTEREST FACTOR IN RENT EXPENSE 416 292 417 321 299 201 144
DIVIDENDS--PREFERRED STOCK 180 232 332 433 505 86 91
------ ------ ------ ------ ------ ------ ------
TOTAL FIXED CHARGES 23,849 18,288 19,746 18,399 15,580 11,812 10,739
------ ------ ------ ------ ------ ------ ------
INCOME:
INCOME BEFORE TAXES, MINORITY INTEREST
AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES 21,143 18,151 11,085 12,305 12,444 11,206 11,255
Other -- -- -- -- 1 -- --
FIXED CHARGES (EXCLUDING PREFERRED
STOCK DIVIDENDS) 23,669 18,056 19,414 17,966 15,075 11,726 10,648
------ ------ ------ ------ ------ ------ ------
TOTAL INCOME 44,812 36,207 30,499 30,271 27,520 22,932 21,903
====== ====== ====== ====== ====== ====== ======
RATIO OF INCOME TO FIXED CHARGES
EXCLUDING INTEREST ON DEPOSITS 1.88 1.98 1.54 1.65 1.77 1.94 2.04
====== ====== ====== ====== ====== ====== ======
INCLUDING INTEREST ON DEPOSITS:
FIXED CHARGES:
INTEREST EXPENSE 36,638 28,674 30,692 27,299 23,792 17,992 16,524
INTEREST FACTOR IN RENT EXPENSE 416 292 417 321 299 201 144
DIVIDENDS--PREFERRED STOCK 180 232 332 433 505 86 91
------ ------ ------ ------ ------ ------ ------
TOTAL FIXED CHARGES 37,234 29,198 31,441 28,053 24,596 18,279 16,759
------ ------ ------ ------ ------ ------ ------
INCOME:
INCOME BEFORE TAXES, MINORITY INTEREST
AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES 21,143 18,151 11,085 12,305 12,444 11,206 11,255
OTHER -- -- -- -- 1 -- --
FIXED CHARGES (EXCLUDING PREFERRED -- -- -- -- -- -- --
STOCK DIVIDENDS) 37,054 28,966 31,109 27,620 24,091 18,193 16,668
------ ------ ------ ------ ------ ------ ------
TOTAL INCOME 58,197 47,117 42,194 39,925 36,536 29,399 27,923
====== ====== ====== ====== ====== ====== ======
RATIO OF INCOME TO FIXED CHARGES
INCLUDING INTEREST ON DEPOSITS 1.56 1.61 1.34 1.42 1.49 1.61 1.67
====== ====== ====== ====== ====== ====== ======
</Table>
Note> On November 30, 2000, Citigroup Inc. completed its acquisition of
Associates First Capital Corporation (Associates) in a transaction accounted for
as a pooling of interests.