8-K 1 sept04final.txt 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) October 14, 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) CITIGROUP GLOBAL MARKETS HOLDINGS INC. Current Report on Form 8-K Item 8.01. Other Events Results of Operations (Unaudited) This report summarizes the results of operations of Citigroup Global Markets Holdings Inc. for the three- and nine-month periods ended September 30, 2004 and 2003 and provides certain additional financial information. CITIGROUP GLOBAL MARKETS HOLDINGS INC. SELECTED FINANCIAL DATA (Unaudited, dollars in millions) September 30, ------------------ 2004 2003 ---- ---- Total stockholder's equity $ 16,878 $ 14,461 Three Nine Months Ended Months Ended September 30, September 30, ----------------- ----------------- 2004 2003 2004 2003 ---- ---- ---- ---- Revenues: Commissions $ 934 $ 974 $3,117 $2,733 Asset management and administration fees 1,001 864 3,037 2,457 Investment banking 779 792 2,545 2,684 Principal transactions 222 383 787 1,624 Other 137 41 359 136 ------ ------ ------ ------ Total non-interest revenues 3,073 3,054 9,845 9,634 ------ ------ ------ ------ Interest and dividends 2,457 1,797 6,871 5,942 Interest expense 1,645 1,121 4,183 3,870 ------ ------ ------ ------ Net interest and dividends 812 676 2,688 2,072 ------ ------ ------ ------ Revenues, net of interest expense 3,885 3,730 12,533 11,706 ------ ------ ------ ------ Non-interest expenses: Compensation and benefits 1,902 1,958 6,457 6,262 Communications 227 151 594 486 Floor brokerage and other production 181 155 563 493 Occupancy and equipment 140 134 411 405 Professional services 152 91 403 268 Advertising and market development 97 67 266 196 Other operating and administrative expenses 221 105 6,958 283 ------ ------ ------ ------ Total non-interest expenses 2,920 2,661 15,652 8,393 ------ ------ ------ ------ Income (loss) before income taxes 965 1,069 (3,119) 3,313 Provision (benefit) for income taxes 345 406 (1,232) 1,261 ------ ------ ------ ------ Net income (loss) $ 620 $ 663 ($1,887) $2,052 ====== ====== ====== ====== 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: October 14, 2004 CITIGROUP GLOBAL MARKETS HOLDINGS INC. By: /s/Cliff Verron ------------------------ Cliff Verron Controller