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CITIGROUP, INC.
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES
INCLUDING PREFERRED STOCK DIVIDENDS
<TABLE>
<CAPTION>
(In Millions) YEAR ENDED DECEMBER 31, Six Months
June 30
EXCLUDING INTEREST ON DEPOSITS: 1999 1998 1997 1996 1995 2000 1999
------ ------ ------ ------ ------ ------ ------
<S> <C> <C> <C> <C> <C> <C> <C>
FIXED CHARGES:
INTEREST EXPENSE (OTHER THAN
INTEREST ON DEPOSITS) 13,894 15,849 14,911 12,362 13,488 8,509 7,020
INTEREST FACTOR IN RENT EXPENSE 262 394 301 282 275 171 162
DIVIDENDS--PREFERRED STOCK 232 332 433 505 800 91 121
------ ------ ------ ------ ------ ------ ------
TOTAL FIXED CHARGES 14,388 16,575 15,645 13,149 14,563 8,771 7,303
------ ------ ------ ------ ------ ------ ------
INCOME:
INCOME BEFORE TAXES, MINORITY INTEREST
AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES 15,948 9,269 10,750 11,087 8,914 10,300 7,887
OTHER - - - 1 - - -
FIXED CHARGES (EXCLUDING PREFERRED
STOCK DIVIDENDS) 14,156 16,243 15,212 12,644 13,763 8,680 7,182
------ ------ ------ ------ ------ ------ ------
TOTAL INCOME 30,104 25,512 25,962 23,732 22,677 18,980 15,069
====== ====== ====== ====== ====== ====== ======
RATIO OF INCOME TO FIXED CHARGES
EXCLUDING INTEREST ON DEPOSITS 2.09 1.54 1.66 1.80 1.56 2.16 2.06
====== ====== ====== ====== ====== ====== ======
INCLUDING INTEREST ON DEPOSITS:
FIXED CHARGES:
INTEREST EXPENSE 24,768 27,495 24,524 21,336 22,390 14,515 12,507
INTEREST FACTOR IN RENT EXPENSE 262 394 301 282 275 171 162
DIVIDENDS--PREFERRED STOCK 232 332 433 505 800 91 121
------ ------ ------ ------ ------ ------ ------
TOTAL FIXED CHARGES 25,262 28,221 25,258 22,123 23,465 14,777 12,790
------ ------ ------ ------ ------ ------ ------
INCOME:
INCOME BEFORE TAXES, MINORITY INTEREST
AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES 15,948 9,269 10,750 11,087 8,914 10,300 7,887
OTHER - - - 1 - - -
FIXED CHARGES (EXCLUDING PREFERRED
STOCK DIVIDENDS) 25,030 27,889 24,825 21,618 22,665 14,686 12,669
------ ------ ------ ------ ------ ------ ------
TOTAL INCOME 40,978 37,158 35,575 32,706 31,579 24,986 20,556
====== ====== ====== ====== ====== ====== ======
RATIO OF INCOME TO FIXED CHARGES
INCLUDING INTEREST ON DEPOSITS 1.62 1.32 1.41 1.48 1.35 1.69 1.61
====== ====== ====== ====== ====== ====== ======
</TABLE>
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