CITIGROUP, INC.
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES
INCLUDING PREFERRED STOCK DIVIDENDS
(In Millions)
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YEAR ENDED DECEMBER 31, Nine Months
September 30
EXCLUDING INTEREST ON DEPOSITS: 1999 1998 1997 1996 1995 2000 1999
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FIXED CHARGES:
INTEREST EXPENSE (OTHER THAN
INTEREST ON DEPOSITS) 13,894 15,849 14,911 12,362 13,488 13,633 10,385
INTEREST FACTOR IN RENT EXPENSE 262 394 301 282 275 261 212
DIVIDENDS--PREFERRED STOCK 232 332 433 505 800 136 181
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TOTAL FIXED CHARGES 14,388 16,575 15,645 13,149 14,563 14,030 10,778
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INCOME:
INCOME BEFORE TAXES, MINORITY INTEREST
AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES 15,948 9,269 10,750 11,087 8,914 15,152 11,757
OTHER -- -- -- 1 -- -- --
FIXED CHARGES (EXCLUDING PREFERRED
STOCK DIVIDENDS) 14,156 16,243 15,212 12,644 13,763 13,894 10,597
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TOTAL INCOME 30,104 25,512 25,962 23,732 22,677 29,046 22,354
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RATIO OF INCOME TO FIXED CHARGES
EXCLUDING INTEREST ON DEPOSITS 2.09 1.54 1.66 1.80 1.56 2.07 2.07
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INCLUDING INTEREST ON DEPOSITS:
FIXED CHARGES:
INTEREST EXPENSE 24,768 27,495 24,524 21,336 22,390 23,252 18,583
INTEREST FACTOR IN RENT EXPENSE 262 394 301 282 275 261 212
DIVIDENDS--PREFERRED STOCK 232 332 433 505 800 136 181
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TOTAL FIXED CHARGES 25,262 28,221 25,258 22,123 23,465 23,649 18,976
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INCOME:
INCOME BEFORE TAXES, MINORITY INTEREST
AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES 15,948 9,269 10,750 11,087 8,914 15,152 11,757
OTHER -- -- -- 1 -- -- --
FIXED CHARGES (EXCLUDING PREFERRED
STOCK DIVIDENDS) 25,030 27,889 24,825 21,618 22,665 23,513 18,795
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TOTAL INCOME 40,978 37,158 35,575 32,706 31,579 38,665 30,552
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RATIO OF INCOME TO FIXED CHARGES
INCLUDING INTEREST ON DEPOSITS 1.62 1.32 1.41 1.48 1.35 1.63 1.61
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