EX-12.01 3 a03-1718_1ex1201.htm EX-12.01

Exhibit 12.01

 

CITIGROUP INC.

CALCULATION OF RATIO OF INCOME TO FIXED CHARGES

(In millions of dollars)

 

 

 

YEAR ENDED DECEMBER 31,

 

SIX MONTHS ENDED
JUNE 30,

 

 

 

2002 (2)

 

2001 (2)

 

2000 (1)(2)

 

1999 (1)(2)

 

1998 (1)(2)

 

2003

 

2002 (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXCLUDING INTEREST ON DEPOSITS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INTEREST EXPENSE (OTHER THAN INTEREST ON DEPOSITS)

 

$

12,659

 

$

20,090

 

$

23,072

 

$

17,687

 

$

18,971

 

$

5,707

 

$

6,256

 

INTEREST FACTOR IN RENT EXPENSE

 

451

 

444

 

416

 

292

 

417

 

232

 

212

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL FIXED CHARGES

 

$

13,110

 

$

20,534

 

$

23,488

 

$

17,979

 

$

19,388

 

$

5,939

 

$

6,468

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INCOME:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INCOME FROM CONTINUING OPERATIONS BEFORE TAXES, MINORITY INTEREST AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES

 

$

20,537

 

$

20,519

 

$

19,297

 

$

16,247

 

$

9,271

 

$

12,356

 

$

11,244

 

FIXED CHARGES

 

13,110

 

20,534

 

23,488

 

17,979

 

19,388

 

5,939

 

6,468

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL INCOME

 

$

33,647

 

$

41,053

 

$

42,785

 

$

34,226

 

$

28,659

 

$

18,295

 

$

17,712

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF INCOME TO FIXED CHARGES EXCLUDING INTEREST ON DEPOSITS

 

2.57

 

2.00

 

1.82

 

1.90

 

1.48

 

3.08

 

2.74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INCLUDING INTEREST ON DEPOSITS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INTEREST EXPENSE

 

$

21,248

 

$

31,793

 

$

36,459

 

$

28,498

 

$

30,531

 

$

9,149

 

$

10,464

 

INTEREST FACTOR IN RENT EXPENSE

 

451

 

444

 

416

 

292

 

417

 

232

 

212

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL FIXED CHARGES

 

$

21,699

 

$

32,237

 

$

36,875

 

$

28,790

 

$

30,948

 

$

9,381

 

$

10,676

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INCOME:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INCOME FROM CONTINUING OPERATIONS BEFORE TAXES, MINORITY INTEREST AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES

 

$

20,537

 

$

20,519

 

$

19,297

 

$

16,247

 

$

9,271

 

$

12,356

 

$

11,244

 

FIXED CHARGES

 

21,699

 

32,237

 

36,875

 

28,790

 

30,948

 

9,381

 

10,676

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL INCOME

 

$

42,236

 

$

52,756

 

$

56,172

 

$

45,037

 

$

40,219

 

$

21,737

 

$

21,920

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF INCOME TO FIXED CHARGES INCLUDING INTEREST ON DEPOSITS

 

1.95

 

1.64

 

1.52

 

1.56

 

1.30

 

2.32

 

2.05

 

 

(1)          On Nov 30, 2000, Citigroup Inc. completed its acquisition of Associates First Capital Corporation (Associates) in a transaction accounted for as a pooling of interests.

(2)          On Aug 20, 2002, Citigroup completed the distribution to its stockholders of a majority portion of its remaining ownership interest in Travelers Property Casualty Corp. (TPC) (an indirect wholly-owned subsidiary of Citigroup on Dec 31, 2001).  Following the distribution, Citigroup began reporting TPC separately as discontinued operations in the Company’s Consolidated Statement of Income.  The calculation of the ratio of income to fixed charges excludes discontinued operations.  Prior periods have been restated on a comparable basis.