Company: CFG-PE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000759944-25-000153
Chunk: 155

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-11-03
Form: 10-Q
Item: Part II, Item 8
Chunk 155
---
309 $290 Other tax benefits recognized24 21 73 68 Amortization(98)(88)(304)(276)Net benefit (expense) included in Income tax expense25 32 78 82 Other income1 1 5 4 Allocated income (loss) on investments(3)(3)(10)(9)Net benefit (expense) included in Noninterest income(2)(2)(5)(5)Net benefit (expense) included in the Consolidated Statements of Operations(1)$23 $30 $73 $77 (1) Includes the impact of tax credit investments when the election to apply the proportional amortization method was in effect during the periods presented. For 2025 and 2024, this includes LIHTC, renewable energy, and NMTC investments.The Company did not recognize impairment losses resulting from the forfeiture or ineligibility of income tax credits or other circumstances during the three and nine months ended September 30, 2025 and 2024.

Citizens Financial Group, Inc. | 62

NOTE 7 - BORROWED FUNDS Short-term borrowed fundsBorrowings with original maturities of one year or less are classified as short-term and were comprised of the following:(dollars in millions)September 30, 2025December 31, 2024Other short-term borrowed funds(1)$214 $— Total short-term borrowed funds$214 $— (1) Consists primarily of short positions held by the Company’s commercial broker dealer. See Note 8 for additional information regarding forward purchase contracts entered into to economically hedge these short positions. Long-term borrowed fundsThe following table presents a summary of the Company’s long-term borrowed funds:(dollars in millions)September 30, 2025December 31, 2024Parent Company:4.350% fixed-rate subordinated debt, due August 2025$— $133 4.300% fixed-rate subordinated debt, due December 2025336 336 2.850% fixed-rate senior unsecured notes, due July 2026500 499 5.841% fixed/floating-rate senior unsecured notes, due January 20301,246 1,245 2.500% fixed-rate senior unsecured notes, due February 2030299 299 3.250% fixed-rate senior unsecured notes, due April 2030747 747 3.750%