Citibank 2008 Annual Report Download - page 231
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34. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
2008 2007
In millions of dollars, except per share amounts Fourth Third Second First Fourth Third Second First
Revenues, net of interest expense $ 5,595 $16,680 $18,077 $12,441 $ 6,419 $21,640 $25,790 $24,646
Operating expenses 25,290 14,425 15,644 15,775 16,100 14,152 14,429 15,121
Provisions for credit losses and for benefits and claims 12,695 9,067 7,100 5,852 7,661 4,867 2,579 2,810
Income (loss) from continuing operations before income taxes and
minority interest $(32,390) $ (6,812) $ (4,667) $ (9,186) $(17,342) $ 2,621 $ 8,782 $ 6,715
Income taxes (10,975) (3,294) (2,404) (3,939) (7,406) 492 2,619 1,797
Minority interest, net of taxes (309) (95) 76 (21) 95 20 123 47
Income (loss) from continuing operations $(21,106) $ (3,423) $ (2,339) $ (5,226) $(10,031) $ 2,109 $ 6,040 $ 4,871
Income from discontinued operations, net of taxes 3,843 608 (156) 115 198 103 186 141
Net income (loss) $(17,263) $ (2,815) $ (2,495) $ (5,111) $ (9,833) $ 2,212 $ 6,226 $ 5,012
Earnings per share (1) (2)
Basic
Income from continuing operations $ (4.12) $ (0.71) $ (0.51) $ (1.04) $ (2.03) $ 0.43 $ 1.23 $ 1.00
Net income (3.40) (0.60) (0.54) (1.02) (1.99) 0.45 1.27 1.02
Diluted
Income from continuing operations (4.12) (0.71) (0.51) (1.04) (2.03) 0.42 1.21 0.98
Net income $ (3.40) $ (0.60) $ (0.54) $ (1.02) $ (1.99) $ 0.44 $ 1.24 $ 1.01
Common stock price per share
High $ 23.00 $ 21.12 $ 26.81 $ 29.69 $ 48.32 $ 52.84 $ 55.20 $ 55.25
Low 3.77 14.03 16.76 18.62 29.29 45.30 51.05 48.75
Close 6.71 20.51 16.76 21.42 29.44 46.67 51.29 51.34
Dividends per share of common stock $ 0.16 $ 0.32 $ 0.32 $ 0.32 $ 0.54 $ 0.54 $ 0.54 $ 0.54
(1) Due to averaging of shares, quarterly earnings per share may not add up to the totals reported for the full year.
(2) Diluted shares are equal to basic shares for all four quarters of 2008 and the fourth quarter of 2007 due to the net loss. Adding additional shares to the denominator would result in anti-dilution due to the losses in
2008 and the fourth quarter of 2007.
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