Antidilutive securities excluded from computation of earnings per common share (in shares)

  
10.  EARNINGS PER SHARE  
The following table reconciles the income and share data used in the basic and diluted earnings per share (EPS) computations:  


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| In millions of dollars, except per share amounts |  |  | 2021 | 2020 | 2019 |
| Earnings per common share  |  |  |  |  |  |
| Income from continuing operations before attribution of noncontrolling interests |  |  | $ | 22,018  |  | $ | 11,107  |  | $ | 19,471  |  |
| Less: Noncontrolling interests from continuing operations |  |  | 73  |  | 40  |  | 66  |  |
| Net income from continuing operations (for EPS purposes) |  |  | $ | 21,945  |  | $ | 11,067  |  | $ | 19,405  |  |
| Loss from discontinued operations, net of taxes |  |  | 7  |  | (20) |  | (4) |  |
| Citigroup’s net income |  |  | $ | 21,952  |  | $ | 11,047  |  | $ | 19,401  |  |
| Less: Preferred dividends(1) |  |  | 1,040  |  | 1,095  |  | 1,109  |  |
| Net income available to common shareholders |  |  | $ | 20,912  |  | $ | 9,952  |  | $ | 18,292  |  |
| Less: Dividends and undistributed earnings allocated to employee restricted and deferred shares with rights to dividends, applicable to basic EPS |  |  | 154  |  | 73  |  | 121  |  |
| Net income allocated to common shareholders for basic EPS |  |  | $ | 20,758  |  | $ | 9,879  |  | $ | 18,171  |  |
| Weighted-average common shares outstanding applicable to basic EPS (in millions) |  |  | 2,033.0  |  | 2,085.8  |  | 2,249.2  |  |
| Basic earnings per share(2) |  |  |   |   |   |
| Income from continuing operations |  |  | $ | 10.21  |  | $ | 4.75  |  | $ | 8.08  |  |
| Discontinued operations |  |  | —  |  | (0.01) |  | —  |  |
| Net income per share—basic |  |  | $ | 10.21  |  | $ | 4.74  |  | $ | 8.08  |  |
| Diluted earnings per share |  |  |   |   |  |
| Net income allocated to common shareholders for basic EPS |  |  | $ | 20,758  |  | $ | 9,879  |  | $ | 18,171  |  |
| Add back: Dividends allocated to employee restricted and deferred shares with rights to dividends that are forfeitable |  |  | 31  |  | 30  |  | 33  |  |
| Net income allocated to common shareholders for diluted EPS |  |  | $ | 20,789  |  | $ | 9,909  |  | $ | 18,204  |  |
| Weighted-average common shares outstanding applicable to basic EPS (in millions) |  |  | $ | 2,033.0  |  | $ | 2,085.8  |  | $ | 2,249.2  |  |
| Effect of dilutive securities |  |  |  |  |  |
|    Options(3) |  |  | —  |  | 0.1  |  | 0.1  |  |
|    Other employee plans |  |  | 16.4  |  | 13.1  |  | 16.0  |  |
| Adjusted weighted-average common shares outstanding applicable to diluted EPS (in millions)(4) |  |  | 2,049.4  |  | 2,099.0  |  | 2,265.3  |  |
| Diluted earnings per share(2) |  |  |  |  |  |
| Income from continuing operations |  |  | $ | 10.14  |  | $ | 4.73  |  | $ | 8.04  |  |
| Discontinued operations |  |  | —  |  | (0.01) |  | —  |  |
| Net income per share—diluted |  |  | $ | 10.14  |  | $ | 4.72  |  | $ | 8.04  |  |

  
(1)See Note 20 to the Consolidated Financial Statements for the potential future impact of preferred stock dividends.(2)Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.(3)During 2021, there were no weighted-average options outstanding. During 2021, no significant options to purchase shares of common stock were outstanding. During 2020, weighted-average options to purchase 0.1 million shares of common stock were outstanding but not included in the computation of earnings per share because the weighted-average exercise price of $56.25 per share was anti-dilutive.(4)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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