CITIZENS FINANCIAL GROUP INCRI
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 4, 2024
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Income Tax Expense
Income tax expense of $88 million and $272 million decreased $31 million and $134 million for the three and nine months ended September 30, 2024, respectively, compared to the same periods in 2023. The effective income tax rate of 18.6% and 19.7% for the three and nine months ended September 30, 2024 decreased from 21.5% and 22.2%, respectively, compared to the same periods in 2023. These decreases reflect a higher benefit from tax-advantaged investments and the favorable impact of certain tax matters. Provision for income taxes is calculated by applying the estimated annual effective tax rate to year-to-date pre-tax income, adjusting for discrete items that occurred during the period.
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