Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 132

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 132
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 Framework(dollars in millions)March 31, 2025December 31, 2024Total common stockholders' equity$22,753 $22,141 Exclusions:Modified CECL transitional amount— 96 Net unrealized (gains)/losses recorded in AOCI, net of tax:Debt securities2,074 2,369 Derivatives569 925 Unamortized net periodic benefit costs298 301 Deductions:Goodwill, net of deferred tax liability(7,767)(7,768)Other intangible assets, net of deferred tax liability(121)(128)Deferred tax assets that arise from tax loss and credit carryforwards(55)(36)Total common equity tier 1 capital17,751 17,900 Qualifying preferred stock 2,113 2,113 Total tier 1 capital19,864 20,013 Qualifying subordinated debt(1)1,234 1,232 Allowance for credit losses2,212 2,259 Exclusions from tier 2 capital:Modified AACL transitional amount— (125)Allowance on PCD assets(154)(147)Adjusted allowance for credit losses2,058 1,987     Total capital$23,156 $23,232 

(1) As of March 31, 2025 and December 31, 2024, the amount of non-qualifying subordinated debt excluded from regulatory capital was $469 million. See Note 7 for more details on our outstanding subordinated debt.

Capital Transactions

We completed the following capital transactions during the three months ended March 31, 2025:

•Repurchased $200 million of our outstanding common stock;

•Declared quarterly common stock dividends of $0.42 per share, aggregating to $186 million; and 

•Declared preferred stock dividends aggregating to $33 million.

For additional detail regarding our common and preferred stock dividends see Note 10.

On June 28, 2024, our Board of Directors increased the capacity of our common share repurchase program to $1.25 billion, an increase of $656 million above the $594 million of capacity remaining under the prior February 2023 authorization. All future capital distributions are subject to consideration and approval by our Board of Directors prior to execution. The timing and amount of future dividends and share repurchases will depend on various factors, including our capital position, financial performance,