This excerpt taken from the C 10-Q filed Nov 3, 2006.
Settlement of New York State and New York City Tax Audits
In September 2006, Citigroup reached a settlement agreement with the New York State and New York City taxing authorities regarding various tax liabilities for the years 1998 - 2005 (referred to above and hereinafter as the "resolution of the New York Tax Audits").
For the 2006 third quarter, the Company released $254 million from its tax contingency reserves, which resulted in increases of $237 million in after-tax income from continuing operations and $17 million in after-tax income from discontinued operations.
The following table summarizes the 2006 third quarter tax benefit, by business, from the resolution of the New York Tax Audits: