Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 141

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 141
---
 credit losses1,238 1,271 NONINTEREST INCOME:Service charges and fees109 96 Capital markets fees100 118 Card fees83 86 Wealth fees81 68 Mortgage banking fees59 49 Foreign exchange and derivative products39 36 Letter of credit and loan fees44 42 Securities gains, net7 5 Other income22 17 Total noninterest income544 517 NONINTEREST EXPENSE:Salaries and employee benefits696 691 Equipment and software194 192 Outside services155 158 Occupancy112 114 Other operating expense157 203 Total noninterest expense1,314 1,358 Income before income tax expense 468 430 Income tax expense95 96 NET INCOME$373 $334 Net income available to common stockholders$340 $304 Weighted-average common shares outstanding:Basic438,320,757 461,358,681 Diluted442,200,180 463,797,964 Per common share information:Basic earnings $0.78 $0.66 Diluted earnings 0.77 0.65 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

Citizens Financial Group, Inc. | 35

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

Three Months Ended March 31,(dollars in millions)20252024Net income$373 $334 Other comprehensive income (loss):Cash flow hedges:Net unrealized gains (losses) on cash flow hedge derivatives arising during the period, net of income taxes of $76 and ($145), respectively208 (405)Reclassification adjustment for net (gains) losses on cash flow hedge derivatives included in net income, net of income taxes of $54 and $54, respectively148 149 AFS securities:Net unrealized gains (losses) on AFS securities arising during the period, net of income taxes of $95 and ($56), respectively282 (173)Reclassification of net securities (gains) losses on AFS securities to net income, net of income taxes of $4 and $5, respectively13 14 Defined benefit plans:Actuarial gain (loss) arising during the period, net of income taxes of $— and $1, respectively— 4 Amortization of act