10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2011 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 24, 2012) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Revenues | |||
| Interest revenue | $ 72,681 | 79,282 | 76,398 |
| Interest expense | 24,234 | 25,096 | 27,902 |
| Net interest revenue | 48,447 | 54,186 | 48,496 |
| Commissions and fees | 12,850 | 13,658 | 15,485 |
| Principal transactions | 7,234 | 7,517 | 6,068 |
| Administration and other fiduciary fees | 3,995 | 4,005 | 5,195 |
| Realized gains (losses) on sales of investments, net | 1,997 | 2,411 | 1,996 |
| Other-than-temporary impairment losses on investments | |||
| Gross impairment losses | (2,413) | (1,495) | (7,262) |
| Less: Impairments recognized in AOCI | 159 | 84 | 4,356 |
| Net impairment losses recognized in earnings | (2,254) | (1,411) | (2,906) |
| Insurance premiums | 2,647 | 2,684 | 3,020 |
| Other revenue | 3,437 | 3,551 | 2,931 |
| Total non-interest revenues | 29,906 | 32,415 | 31,789 |
| Total revenues, net of interest expense | 78,353 | 86,601 | 80,285 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for loan losses | 11,773 | 25,194 | 38,760 |
| Policyholder benefits and claims | 972 | 965 | 1,258 |
| Provision (release) for unfunded lending commitments | 51 | (117) | 244 |
| Total provisions for credit losses and for benefits and claims | 12,796 | 26,042 | 40,262 |
| Operating expenses | |||
| Compensation and benefits | 25,688 | 24,430 | 24,987 |
| Premises and equipment | 3,326 | 3,331 | 3,697 |
| Technology/communication | 5,133 | 4,924 | 5,215 |
| Advertising and marketing | 2,346 | 1,645 | 1,415 |
| Restructuring | (113) | ||
| Other operating | 14,440 | 13,045 | 12,621 |
| Total operating expenses | 50,933 | 47,375 | 47,822 |
| Income (loss) from continuing operations before income taxes | 14,624 | 13,184 | (7,799) |
| Provision (benefit) for income taxes | 3,521 | 2,233 | (6,733) |
| Income (loss) from continuing operations | 11,103 | 10,951 | (1,066) |
| Discontinued operations | |||
| Income (loss) from discontinued operations | 23 | 72 | (653) |
| Gain (loss) on sale | 155 | (702) | 102 |
| Provision (benefit) for income taxes | 66 | (562) | (106) |
| Income (loss) from discontinued operations, net of taxes | 112 | (68) | (445) |
| Net income (loss) before attribution of noncontrolling interests | 11,215 | 10,883 | (1,511) |
| Net income attributable to noncontrolling interests | 148 | 281 | 95 |
| Citigroup's net income (loss) | 11,067 | 10,602 | (1,606) |
| Basic earnings per share | |||
| Income (loss) from continuing operations (in dollars per share) | 3.69 | 3.66 | (7.61) |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | 0.04 | (0.01) | (0.38) |
| Net income (loss) (in dollars per share) | 3.73 [1] | 3.65 | (7.99) |
| Weighted average common shares outstanding (in shares) | 2,909,800 | 2,877,600 | 1,156,800 |
| Diluted earnings per share | |||
| Income (loss) from continuing operations (in dollars per share) | 3.59 | 3.55 | (7.61) |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | 0.04 | (0.01) | (0.38) |
| Net income (loss) (in dollars per share) | 3.63 | 3.54 | (7.99) |
| Adjusted weighted average common shares outstanding (in shares) | 2,998,800 | 2,967,800 | 1,209,900 |
| [1] Earnings per share amounts and adjusted weighted average common shares outstanding for all periods reflect Citigroup's 1-for-10 reverse stock split, which was effective May 6, 2011. | Due to the net loss available to common shareholders in 2009, loss available to common stockholders for basic EPS was used to calculate diluted EPS. Including the effect of dilutive securities would result in anti-dilution. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2011 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 24, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Cash flows from operating activities of continuing operations | |||
| Net income (loss) before attribution of noncontrolling interests | $ 11,215 | 10,883 | (1,511) |
| Net income attributable to noncontrolling interests | 148 | 281 | 95 |
| Citigroup's net income (loss) | 11,067 | 10,602 | (1,606) |
| Income (loss) from discontinued operations, net of taxes | 17 | 215 | (402) |
| Gain (loss) on sale, net of taxes | 95 | (283) | (43) |
| Income (loss) from continuing operations-excluding noncontrolling interests | 10,955 | 10,670 | (1,161) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities of continuing operations | |||
| Amortization of deferred policy acquisition costs and present value of future profits | 250 | 302 | 434 |
| (Additions)/reductions to deferred policy acquisition costs | (54) | (98) | (461) |
| Depreciation and amortization | 2,872 | 2,664 | 2,853 |
| Deferred tax benefit | (74) | (964) | (7,709) |
| Provision for credit losses | 11,824 | 25,077 | 39,004 |
| Change in trading account assets | 25,538 | 15,601 | 25,864 |
| Change in trading account liabilities | (2,972) | (8,458) | (25,382) |
| Change in federal funds sold and securities borrowed or purchased under agreements to resell | (29,132) | (24,695) | (43,726) |
| Change in federal funds purchased and securities loaned or sold under agreements to repurchase | 8,815 | 35,277 | (47,669) |
| Change in brokerage receivables net of brokerage payables | 8,383 | (6,676) | 1,847 |
| Realized gains from sales of investments | (1,997) | (2,411) | (1,996) |
| Change in loans held-for-sale | 1,021 | 2,483 | (1,711) |
| Other, net | 9,312 | (13,086) | 5,203 |
| Total adjustments | 33,786 | 25,016 | (53,449) |
| Net cash provided by (used in) operating activities of continuing operations | 44,741 | 35,686 | (54,610) |
| Cash flows from investing activities of continuing operations | |||
| Change in deposits with banks | 6,653 | 4,977 | 2,519 |
| Change in loans | (11,559) | 60,730 | (148,651) |
| Proceeds from sales and securitizations of loans | 10,022 | 9,918 | 241,367 |
| Purchases of investments | (314,250) | (406,046) | (281,115) |
| Proceeds from sales of investments | 182,566 | 183,688 | 85,395 |
| Proceeds from maturities of investments | 139,959 | 189,814 | 133,614 |
| Capital expenditures on premises and equipment and capitalized software | (3,448) | (2,363) | (2,264) |
| Proceeds from sales of premises and equipment, subsidiaries and affiliates, and repossessed assets | 1,323 | 2,619 | 6,303 |
| Net cash provided by (used in) investing activities of continuing operations | 11,266 | 43,337 | 37,168 |
| Cash flows from financing activities of continuing operations | |||
| Dividends paid | (107) | (9) | (3,237) |
| Issuance of common stock | 17,514 | ||
| Issuances of T-DECs-APIC | 2,784 | ||
| Issuance of ADIA Upper Decs equity units purchase contract | 3,750 | 3,750 | |
| Treasury stock acquired | (1) | (6) | (3) |
| Stock tendered for payment of withholding taxes | (230) | (806) | (120) |
| Issuance of long-term debt | 30,242 | 33,677 | 110,088 |
| Payments and redemptions of long-term debt | (89,091) | (75,910) | (123,743) |
| Change in deposits | 23,858 | 9,065 | 61,718 |
| Change in short-term borrowings | (25,067) | (47,189) | (51,995) |
| Net cash (used in) provided by financing activities of continuing operations | (56,646) | (77,428) | 13,006 |
| Effect of exchange rate changes on cash and cash equivalents | (1,301) | 691 | 632 |
| Discontinued operations | |||
| Net cash provided by (used in) discontinued operations | 2,669 | 214 | 23 |
| Change in cash and due from banks | 729 | 2,500 | (3,781) |
| Cash and due from banks at beginning of period | 27,972 | 25,472 | |
| Cash and due from banks at end of period | 28,701 | 27,972 | 25,472 |
| Supplemental disclosure of cash flow information for continuing operations | |||
| Cash paid/(received) during the year for income taxes | 2,705 | 4,307 | (289) |
| Cash paid during the year for interest | 21,230 | 23,209 | 28,389 |
| Non-cash investing activities | |||
| Transfers to OREO and other repossessed assets | 1,284 | 2,595 | 2,880 |
| Transfers to trading account assets from investments (available-for-sale) | 12,001 | ||
| Transfers to trading account assets from investments (held-to-maturity) | 12,700 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CITIGROUP INC | ||
Ticker: C Fiscal Year: 2011 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 24, 2012) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| Assets | ||
| Cash and due from banks | $ 28,701 | 27,972 |
| Deposits with banks | 155,784 | 162,437 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (including $142,862 and $87,512 as of December 31, 2011 and 2010, respectively, at fair value) | 275,849 | 246,717 |
| Brokerage receivables | 27,777 | 31,213 |
| Trading account assets | 291,734 | 317,272 |
| Investments | 293,413 | 318,164 |
| Loans, net of unearned income | ||
| Consumer | 423,731 | 455,732 |
| Corporate | 223,511 | 193,062 |
| Loans, net of unearned income | 647,242 | 648,794 |
| Allowance for loan losses | (30,115) | (40,655) |
| Total loans, net | 617,127 | 608,139 |
| Goodwill | 25,413 | 26,152 |
| Intangible assets (other than MSRs) | 6,600 | 7,504 |
| Mortgage servicing rights (MSRs) | 2,569 | 4,554 |
| Other assets | 148,911 | 163,778 |
| Total assets | 1,873,878 | 1,913,902 |
| Liabilities | ||
| Non-interest-bearing deposits in U.S. offices | 119,437 | 78,268 |
| Interest-bearing deposits in U.S. offices (including $848 and $662 at December 31, 2011 and 2010, respectively, at fair value) | 223,851 | 225,731 |
| Non-interest-bearing deposits in offices outside the U.S. | 57,357 | 55,066 |
| Interest-bearing deposits in offices outside the U.S. (including $478 and $603 at December 31, 2011 and 2010, respectively, at fair value) | 465,291 | 485,903 |
| Total deposits | 865,936 | 844,968 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (including $112,770 and $121,193 as of December 31, 2011 and 2010, respectively, at fair value) | 198,373 | 189,558 |
| Brokerage payables | 56,696 | 51,749 |
| Trading account liabilities | 126,082 | 129,054 |
| Short-term borrowings | 54,441 | 78,790 |
| Long-term debt | 323,505 | 381,183 |
| Other liabilities | 69,272 | 72,811 |
| Total liabilities | 1,694,305 | 1,748,113 |
| Stockholders' equity | ||
| Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 12,038 at December 31, 2011 and December 31, 2010 at aggregate liquidation value | 312 | 312 |
| Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 2,937,755,921 at December 31, 2011 and 2,922,401,623 at December 31, 2010 | 29 | 29 |
| Additional paid-in capital | 105,804 | 101,287 |
| Retained earnings | 90,520 | 79,559 |
| Treasury stock, at cost: 2011-13,877,688 shares and 2010-16,565,572 shares | (1,071) | (1,442) |
| Accumulated other comprehensive income (loss) | (17,788) | (16,277) |
| Total Citigroup stockholders' equity | 177,806 | 163,468 |
| Noncontrolling interest | 1,767 | 2,321 |
| Total equity | 179,573 | 165,789 |
| Total liabilities and equity | 1,873,878 | 1,913,902 |
| Variable Interest Entities by Classification of Entity | ||
| Consolidated VIEs | ||
| Cash and due from banks | 536 | 799 |
| Trading account assets | 567 | 6,509 |
| Investments | 10,582 | 7,946 |
| Consumer | 103,275 | 117,768 |
| Corporate | 23,780 | 23,537 |
| Loans, net of unearned income | 127,055 | 141,305 |
| Allowance for loan losses | (8,000) | (11,346) |
| Total loans, net | 119,055 | 129,959 |
| Other assets | 859 | 680 |
| Total assets | 131,599 | 145,893 |
| Short-term borrowings | 21,009 | 22,046 |
| Long-term debt | 50,451 | 69,710 |
| Other liabilities | 587 | 813 |
| Total liabilities | 72,047 | 92,569 |
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2011 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |