Citigroup Inc. has released its quarterly financial report, providing insights into the company's financial performance and business developments. The report, which should be read in conjunction with Citigroup's previous annual and quarterly reports, offers a detailed look at the company's financial statements and strategic alignment. Citigroup has made certain reclassifications to previous financial statements to align with its current transformation and strategy. The company also discusses material risks and uncertainties in its 2023 Form 10-K that could impact its business operations and financial condition. Citigroup presents non-GAAP financial measures alongside GAAP measures to offer a clearer understanding of its operational performance and to facilitate comparisons with peers. These non-GAAP measures exclude divestiture-related impacts and other...Show More

Citigroup Inc. has released its quarterly financial report, providing insights into the company's financial performance and business developments. The report, which should be read in conjunction with Citigroup's previous annual and quarterly reports, offers a detailed look at the company's financial statements and strategic alignment. Citigroup has made certain reclassifications to previous financial statements to align with its current transformation and strategy. The company also discusses material risks and uncertainties in its 2023 Form 10-K that could impact its business operations and financial condition. Citigroup presents non-GAAP financial measures alongside GAAP measures to offer a clearer understanding of its operational performance and to facilitate comparisons with peers. These non-GAAP measures exclude divestiture-related impacts and other specific items to provide a more transparent view of Citigroup's core operations. Key non-GAAP metrics include revenues and expenses excluding divestiture-related impacts, tangible common equity, return on tangible common equity, and tangible book value per share. Additionally, the report provides information on revenues from Banking and Corporate Lending excluding loan hedge gains or losses, Services non-interest revenue excluding the impact of the Argentine peso devaluation, and non-Markets net interest income. Citigroup's CEO regularly reviews financial information for segments like All Other on a managed basis, excluding divestiture-related impacts, to assess the company's performance. For a comprehensive understanding of these financial measures and their implications, the report directs readers to various sections such as the Executive Summary, Capital Resources, and Market Risk.