EX-12.01 2 citi-exhibit1201x12312017.htm EXHIBIT 12.01 Exhibit
Exhibit 12.01

CITIGROUP INC.
 
 
 
 
 
 
 
 
 
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years ended December 31,
In millions of dollars, except for ratios
2017
 
2016
 
2015
 
2014
 
2013
EXCLUDING INTEREST ON DEPOSITS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
Interest expense (other than interest on deposits)
$
9,931

 
$
7,211

 
$
6,869

 
$
7,998

 
$
9,941

Interest factor in rent expense
345

 
361

 
414

 
460

 
460

Total fixed charges
$
10,276

 
$
7,572

 
$
7,283

 
$
8,458

 
$
10,401

 
 
 
 
 
 
 
 
 
 
Income
 
 
 
 
 
 
 
 
 
Income from continuing operations before taxes and noncontrolling interests
$
22,761

 
$
21,477

 
$
24,826

 
$
14,701

 
$
19,802

Fixed charges (excluding preferred stock dividends)
10,276

 
7,572

 
7,283

 
8,458

 
10,401

Total income
$
33,037

 
$
29,049

 
$
32,109

 
$
23,159

 
$
30,203

 
 
 
 
 
 
 
 
 
 
Ratio of income to fixed charges excluding interest on deposits
3.21

 
3.84

 
4.41

 
2.74

 
2.90

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
INCLUDING INTEREST ON DEPOSITS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
Interest expense
$
16,517

 
$
12,511

 
$
11,921

 
$
13,690

 
$
16,177

Interest factor in rent expense
345

 
361

 
414

 
460

 
460

Total fixed charges
$
16,862

 
$
12,872

 
$
12,335

 
$
14,150

 
$
16,637

 
 
 
 
 
 
 
 
 
 
Income
 
 
 
 
 
 
 
 
 
Income from continuing operations before taxes and noncontrolling interests
$
22,761

 
$
21,477

 
$
24,826

 
$
14,701

 
$
19,802

Fixed charges (excluding preferred stock dividends)
16,862

 
12,872

 
12,335

 
14,150

 
16,637

Total income
$
39,623

 
$
34,349

 
$
37,161

 
$
28,851

 
$
36,439

 
 
 
 
 
 
 
 
 
 
Ratio of income to fixed charges including interest on deposits
2.35

 
2.67

 
3.01

 
2.04

 
2.19

(1)
Citigroup adopted Accounting Standards Update (ASU) 2014-01, Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects in the first quarter of 2015. The ASU is applicable to Citigroup’s portfolio of low income housing tax credit partnership interests. The adoption of this ASU was applied retrospectively, and among other items, impacts Citigroup’s Income from continuing operations before taxes and non-controlling interests for all periods presented. See Citi’s Current Report on Form 8-K furnished to the SEC on April 8, 2015.