EARNINGS PER SHARE |
EARNINGS PER SHARE The following table reconciles the income and share data used in the basic and diluted earnings per share (EPS) computations:
| | | | | | | | | | | | | | | | Three Months Ended September 30, | Nine Months Ended September 30, | In millions of dollars, except per share amounts | 2022 | 2021 | 2022 | 2021 | Earnings per common share | | | | | Income from continuing operations before attribution to noncontrolling interests | $ | 3,515 | | $ | 4,669 | | $ | 12,629 | | $ | 18,839 | | Less: Noncontrolling interests from continuing operations | 30 | | 24 | | 68 | | 67 | | Net income from continuing operations (for EPS purposes) | $ | 3,485 | | $ | 4,645 | | $ | 12,561 | | $ | 18,772 | | Income (loss) from discontinued operations, net of taxes | (6) | | (1) | | (229) | | 7 | | Citigroup’s net income | $ | 3,479 | | $ | 4,644 | | $ | 12,332 | | $ | 18,779 | | Less: Preferred dividends | 277 | | 266 | | 794 | | 811 | | Net income available to common shareholders | $ | 3,202 | | $ | 4,378 | | $ | 11,538 | | $ | 17,968 | | Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with rights to dividends, applicable to basic EPS | 28 | | 26 | | 89 | | 134 | | Net income allocated to common shareholders for basic EPS | $ | 3,174 | | $ | 4,352 | | $ | 11,449 | | $ | 17,834 | | Weighted-average common shares outstanding applicable to basic EPS (in millions) | 1,936.8 | | 2,009.3 | | 1,950.0 | | 2,049.3 | | Basic earnings per share(1) | | | | | Income from continuing operations | $ | 1.64 | | $ | 2.17 | | $ | 5.99 | | $ | 8.70 | | Discontinued operations | — | | — | | (0.12) | | — | | Net income per share—basic | $ | 1.64 | | $ | 2.17 | | $ | 5.87 | | $ | 8.70 | | Diluted earnings per share | | | | | Net income allocated to common shareholders for basic EPS | $ | 3,174 | | $ | 4,352 | | $ | 11,449 | | $ | 17,834 | | Add back: Dividends allocated to employee restricted and deferred shares with rights to dividends that are forfeitable | 11 | | 8 | | 30 | | 23 | | Net income allocated to common shareholders for diluted EPS | $ | 3,185 | | $ | 4,360 | | $ | 11,479 | | $ | 17,857 | | Weighted-average common shares outstanding applicable to basic EPS (in millions) | 1,936.8 | | 2,009.3 | | 1,950.0 | | 2,049.3 | | Effect of dilutive securities | | | | | Options(2) | — | | — | | — | | — | | Other employee plans | 18.3 | | 16.9 | | 17.1 | | 16.0 | | Adjusted weighted-average common shares outstanding applicable to diluted EPS (in millions)(3) | 1,955.1 | | 2,026.2 | | 1,967.1 | | 2,065.3 | | Diluted earnings per share(1) | | | | | Income from continuing operations | $ | 1.63 | | $ | 2.15 | | $ | 5.95 | | $ | 8.64 | | Discontinued operations | — | | — | | (0.12) | | — | | Net income per share—diluted | $ | 1.63 | | $ | 2.15 | | $ | 5.84 | | $ | 8.65 | |
(1)Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income. (2) During the first, second and third quarters of 2022 and 2021, no significant options to purchase shares of common stock were outstanding. (3) Due to rounding, weighted-average common shares outstanding applicable to basic EPS and the effect of dilutive securities may not sum to weighted-average common shares outstanding applicable to diluted EPS.
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