Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 43

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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) Includes an industry-wide FDIC special assessment of $35 million for the three months ended March 31, 2024.

Citizens Financial Group, Inc. | 68

NOTE 15 - EARNINGS PER SHARE Three Months Ended March 31,(dollars in millions, except per share data)20252024Numerator (basic and diluted):Net income$373 $334 Less: Preferred stock dividends33 30 Net income available to common stockholders$340 $304 Denominator:Weighted-average common shares outstanding - basic438,320,757 461,358,681 Dilutive common shares: share-based awards3,879,423 2,439,283 Weighted-average common shares outstanding - diluted442,200,180 463,797,964 Earnings per common share:Basic$0.78 $0.66 Diluted(1)0.77 0.65 (1) Potential dilutive common shares are excluded from the computation of diluted EPS in the periods where the effect would be antidilutive. Excluded from the computation of diluted EPS were weighted-average antidilutive shares totaling 126,523 and 1,305,850 for the three months ended March 31, 2025 and 2024, respectively.

NOTE 16 - BUSINESS SEGMENTS The Company is managed by its CODM, the Chief Executive Officer, on a segment basis. The Company’s three reportable business segments are Consumer Banking, Commercial Banking, and Non-Core. The business segments are determined based on the products and services provided, or the type of customer served. Each business segment has a segment head that reports directly to the Chief Executive Officer, who has final authority over resource allocation decisions and performance assessment. The business segments reflect this management structure and the manner in which financial information is currently evaluated by the Chief Executive Officer.The CODM utilizes segment pretax profit or loss as the primary measure to allocate resources to the Company’s business segments during the annual budgeting and forecasting process. This measure is also used to assess the performance of each segment, with a focus on monitoring net interest income, noninterest income, and noninterest expense. To ensure effective oversight, the CODM participates in monthly business review meetings, where budget- and forecast-to-actual variances for pretax profit or loss and its components are analyzed. These evaluations inform the CODM’s decisions regarding the allocation of capital and resources across the business segments, ensuring alignment with the