8-K 1 dec2004final.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) January 20, 2005 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 5. Other Events Results of Operations (Unaudited) This report summarizes the results of operations of Citigroup Global Markets Holdings Inc. for the twelve-month periods ended December 31, 2004 and 2003 and provides certain additional financial information. CITIGROUP GLOBAL MARKETS HOLDINGS INC. SELECTED FINANCIAL DATA (Unaudited, dollars in millions) December 31, ------------------ 2004 2003 ---- ---- Total stockholder's equity $ 17,157 $ 15,622 Twelve Months Ended December 31, ----------------- 2004 2003 ---- ---- Revenues: Commissions $4,222 $3,749 Asset management and administration fees 4,044 3,378 Investment banking 3,527 3,607 Principal transactions 846 1,886 Other 418 181 ------ ------ Total non-interest revenues 13,057 12,801 ------ ------ Interest and dividends 10,008 7,921 Interest expense 6,371 5,060 ------ ------ Net interest and dividends 3,637 2,861 ------ ------ Revenues, net of interest expense 16,694 15,662 ------ ------ Non-interest expenses: Compensation and benefits 8,852 8,008 Communications 856 633 Floor brokerage and other production 785 712 Occupancy and equipment 580 545 Professional services 552 384 Advertising and market development 383 276 Other operating and administrative expenses 7,081 431 ------ ------ Total non-interest expenses 19,089 10,989 ------ ------ Income (loss) before income taxes (2,395) 4,673 Provision (benefit) for income taxes (954) 1,780 ------ ------ Net income (loss) ($1,441) $2,893 ====== ====== 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: January 20, 2005 CITIGROUP GLOBAL MARKETS HOLDINGS INC. By: /s/Cliff Verron ------------------------ Cliff Verron Controller