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Cash levels dropped in Q1 2024 primarily because of the **negative impact of exchange rate changes** during the quarter. Specifically, there was a decline of **$4,566 million** due to exchange rate fluctuations affecting cash, due from banks, and deposits with banks. Other contributing factors, including changes in deposits and financing activities, compounded the effect, leading to an overall reduction from **$27,342 million** in Q4 2023 to **$25,174 million** in Q1 2024 (8% decline).  **[0001104659-24-046583_c-20240112xex99d2.htm:9]** **[0000831001-24-000051_c-20240331.htm:121]** 

Why did cash levels drop in Q1 2024?

The spike in long-term debt in Q3 2024 was primarily caused by **higher net debt issuances**, where Citigroup issued **$30.1 billion** in new long-term debt while maturities, repurchases, and redemptions totaled **$18.3 billion**, resulting in a net increase of approximately **$11.8 billion**. In addition, **increased benchmark senior debt** and **non-bank customer-related debt growth** contributed significantly to the overall rise in long-term debt for the quarter, along with liability management activities that, while partly offsetting issuances, did not prevent the spike.  **[0000831001-24-000134_c-20240930.htm:84]** **[0000831001-24-000134_c-20240930.htm:83]** 

What caused long-term debt to spike in Q3 2024?

The documents do not provide specific reasons for the increase in trading account assets in Q3 2024. They note that the trading account assets rose significantly, but only mention that such fluctuations typically occur due to **changes in market conditions, trading volumes, and the company's strategic trading activities**.  **[0000831001-24-000134_c-20240930.htm:133]** **[0001104659-24-108431_c-20240712xex99d2.htm:9]** 

Why did trading account assets increase in Q3 2024?

The documents do not provide a definitive explanation. However, they note that the surge in deposits with banks in Q3 2024—rising from **$233,590 million** to **$277,828 million** (a roughly **19% increase**)—could generally be attributed to factors such as changes in **customer deposit behavior**, shifts in the **interest rate environment**, or **strategic adjustments** in the bank's deposit gathering activities.  **[0000831001-24-000134_c-20240930.htm:133]** **[0001104659-24-108431_c-20240712xex99d2.htm:9]** 

What drove the surge in deposits with banks in Q3 2024?

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d10a8785d3a8d6f91e5727d64124d5311b746a453f34d733f626c3708f5a1871

Cash and Cash Equivalents (USD, millions)

Property, Plant, and Equipment (PP&E) (USD, millions)

Goodwill (USD, millions)

Intangible Assets (USD, millions)

Short-term Debt (USD, millions)

Long-term Debt (USD, millions)

Shareholders' Equity (USD, millions)

Retained Earnings (USD, millions)

Common Stock (USD, millions)

Additional Paid-in Capital (USD, millions)

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Adjustments for Non-Cash Items (USD, millions)

Stock-Based Compensation (USD, millions)

Changes in Working Capital (USD, millions)

Capital Expenditures (CapEx) (USD, millions)

Proceeds from / Repayments of Debt (USD, millions)

Share Repurchases (USD, millions)

Dividend Payments (USD, millions)

Net Change in Cash (USD, millions)

060f698c666b9fda0ea5e6c149cb8c0e8fcecc002c34aa711c295ff4f6e6480c

Total Revenue (USD, millions)

Cost of Goods Sold (COGS) (USD, millions)

SG&A (USD, millions)

R&D (USD, millions)

Depreciation and Amortization (USD, millions)

Interest Expense (USD, millions)

Operating Income (EBIT) (USD, millions)

Net Income (USD, millions)

EPS - Basic (USD)

EPS - Diluted (USD)

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North America

International

- United Kingdom

- JANA

- LATAM

- Asia South

- Europe

- MEA

Corporate/Other

Total Revenue

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Citigroup Average Liquidity Coverage Ratio (percentage)

Supplementary Leverage ratio for Citigroup Inc. (percentage)

Leverage ratio for Citigroup Inc. (percentage)

High-Quality Liquid Assets (HQLA) on an average basis (billions of dollars)

Net credit loss ratio for U.S. Personal Banking (percentage)

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CITIGROUP (C)

Financials