8-K 1 mar2004final.txt FIRST QUARTER 2004 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 15, 2004 CITIGROUP GLOBAL MARKETS HOLDINGS INC. (Exact name of registrant as specified in its charter) --------------------------------------------------------------------------- New York 1-15286 11-2418067 (State or other (Commission (IRS Employer jurisdiction File Number) Identification No.) of incorporation) 388 Greenwich Street, New York, NY 10013 --------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (212) 816-6000 --------------------------------------------------------------------------- (Registrant's telephone number, including area code) CITIGROUP GLOBAL MARKETS HOLDINGS INC. Current Report on Form 8-K Item 5. Other Events Results of Operations (Unaudited) This report summarizes the results of operations of Citigroup Global Markets Holdings Inc. for the three-month period ended March 31, 2004 and 2003 and provides certain additional financial information. CITIGROUP GLOBAL MARKETS HOLDINGS INC. SELECTED FINANCIAL DATA (Unaudited, dollars in millions) March 31, -------------------- 2004 2003 ---- ---- Total stockholder's equity $ 16,057 $ 13,705 Three Months Ended March 31, ----------------- 2004 2003 ---- ---- Revenues: Commissions $ 1,197 $ 823 Asset management and administration fees 1,005 798 Investment banking 882 827 Principal transactions 310 621 Other 44 27 ------ ------ Total non-interest revenues 3,438 3,096 ------ ------ Interest and dividends 2,194 2,032 Interest expense 1,230 1,372 ------ ------ Net interest and dividends 964 660 ------ ------ Revenues, net of interest expense 4,402 3,756 ------ ------ Non-interest expenses: Compensation and benefits 2,355 2,035 Floor brokerage and other production 191 158 Communications 141 167 Occupancy and equipment 137 136 Professional services 128 80 Advertising and market development 76 60 Other operating and administrative expenses 81 82 ------ ------ Total non-interest expenses 3,109 2,718 ------ ------ Income before income taxes 1,293 1,038 Provision for income taxes 472 388 ------ ------ Net income $ 821 $ 650 ======== ======== SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: April 15, 2004 CITIGROUP GLOBAL MARKETS HOLDINGS INC. By: /s/Cliff Verron ------------------------ Cliff Verron Controller