8-KRegulation FDExhibits & Filings

CITIGROUP INC 8-K Report, Regulation FD Disclosure (Apr 12, 2022)

Filed April 12, 2022For Securities:CC-PNC-PR

Summary

Citigroup Inc. (Citi) filed a Current Report on Form 8-K on April 12, 2022, to disclose significant changes in its management reporting and financial reporting structure. These adjustments, implemented in the first quarter of 2022, are intended to better align with the company's strategic refresh and vision. This filing is primarily a furnishing of information, designed to provide investors with updated historical financial data to ensure comparability with upcoming earnings announcements. The report includes a "Summary Historical Financial Information" exhibit reflecting these structural changes for periods ending December 31, 2021. Citi also indicated its intention to file a subsequent Form 8-K after its first quarter 2022 Form 10-Q to include further conforming historical financial statements and management discussion aligned with the revised reporting structure. This proactive disclosure aims to enhance transparency and facilitate investor understanding of the company's financial performance under its new operational framework.

Key Highlights

  • 1Citigroup is updating its financial reporting structure to align with its strategic refresh and management reporting changes implemented in Q1 2022.
  • 2The company is furnishing summary historical financial information for periods ending December 31, 2021, reflecting these structural revisions.
  • 3This filing aims to ensure comparability for upcoming Q1 2022 earnings announcements, including the Quarterly Financial Data Supplement.
  • 4A subsequent Form 8-K will be filed after the Q1 2022 Form 10-Q to provide conforming historical financial statements and MD&A.
  • 5The report is furnished under Regulation FD and is not deemed 'filed' for Section 18 liability purposes.
  • 6Exhibit 99.1 contains the 'Summary Historical Financial Information', and Exhibit 99.2 lists securities registered under Section 12(b).

Frequently Asked Questions

The main purpose of this 8-K filing is to inform investors about Citigroup's changes to its management and financial reporting structure implemented in the first quarter of 2022. It provides updated historical financial data to ensure comparability for upcoming earnings reports.

The company's first quarter 2022 earnings announcement, scheduled for April 14, 2022, will include information reflecting the new structure. A more detailed filing conforming historical financial statements and management discussion to the revised structure is planned after the Q1 2022 Form 10-Q is filed.

No, this 8-K filing does not contain new financial results for the first quarter of 2022. It primarily provides summary historical financial information for periods ending December 31, 2021, restated to reflect the new reporting structure, and announces the upcoming earnings release date.

No, the information in this report, including Exhibit 99.1, is being 'furnished' under Regulation FD. This means it is not deemed 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934 and is not subject to the liabilities of that section.