10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2012 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenues | |||
| Interest revenue | $ 68,138 | 72,681 | 79,282 |
| Interest expense | 20,535 | 24,234 | 25,096 |
| Net interest revenue | 47,603 | 48,447 | 54,186 |
| Commissions and fees | 12,926 | 12,850 | 13,658 |
| Principal transactions | 4,781 | 7,234 | 7,517 |
| Administration and other fiduciary fees | 4,012 | 3,995 | 4,005 |
| Realized gains (losses) on sales of investments, net | 3,251 | 1,997 | 2,411 |
| Other-than-temporary impairment losses on investments | |||
| Gross impairment losses | (5,037) | (2,413) [1] | (1,495) |
| Less: Impairments recognized in AOCI | 66 | 159 | 84 |
| Net impairment losses recognized in earnings | (4,971) | (2,254) | (1,411) |
| Insurance premiums | 2,476 | 2,647 | 2,684 |
| Other revenue | 95 | 3,437 [2] | 3,551 |
| Total non-interest revenues | 22,570 | 29,906 | 32,415 |
| Total revenues, net of interest expense | 70,173 | 78,353 | 86,601 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for loan losses | 10,848 | 11,773 | 25,194 |
| Policyholder benefits and claims | 887 | 972 | 965 |
| Provision (release) for unfunded lending commitments | (16) | 51 | (117) |
| Total provisions for credit losses and for benefits and claims | 11,719 | 12,796 | 26,042 |
| Operating expenses | |||
| Compensation and benefits | 25,204 | 25,688 | 24,430 |
| Premises and equipment | 3,282 | 3,326 | 3,331 |
| Technology/communication | 5,914 | 5,133 | 4,924 |
| Advertising and marketing | 2,224 | 2,346 | 1,645 |
| Other operating | 13,894 | 14,440 | 13,045 |
| Total operating expenses | 50,518 | 50,933 [3] | 47,375 |
| Income (loss) from continuing operations before income taxes | 7,936 | 14,624 | 13,184 |
| Provision for income taxes (benefit) | 27 | 3,521 | 2,233 |
| Income from continuing operations | 7,909 | 11,103 | 10,951 |
| Discontinued operations | |||
| Income (loss) from discontinued operations | (219) | 23 | 72 |
| Gain (loss) on sale | (1) | 155 | (702) |
| Provision (benefit) for income taxes | (71) | 66 | (562) |
| Income (loss) from discontinued operations, net of taxes | (149) | 112 | (68) |
| Net income before attribution of noncontrolling interests | 7,760 | 11,215 | 10,883 |
| Noncontrolling interests | 219 | 148 | 281 |
| Citigroup's net income | 7,541 | 11,067 | 10,602 |
| Basic earnings per share | |||
| Income from continuing operations (in dollars per share) | 2.56 | 3.69 [4] | 3.66 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | (0.05) | 0.04 | (0.01) |
| Net income (in dollars per share) | 2.51 | 3.73 | 3.65 |
| Weighted average common shares outstanding (in shares) | 2,930,600 | 2,909,800 | 2,877,600 |
| Diluted earnings per share | |||
| Income from continuing operations (in dollars per share) | 2.49 | 3.59 | 3.55 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | (0.05) | 0.04 | (0.01) |
| Net income (in dollars per share) | 2.44 | 3.63 | 3.54 |
| Adjusted weighted average common shares outstanding (in shares) | 3,015,500 | 2,998,800 | 2,967,800 |
| [1] 2012 includes the recognition of a $3,340 million impairment charge related to the carrying value of Citi's remaining 35% interest in the Morgan Stanley Smith Barney joint venture (MSSB), as well as the recognition of a $1,181 million impairment charge related to Citi's investment in Akbank. See Note 15 to the Consolidated Financial Statements. | |||
| [2] Other revenue for 2012 includes a $1,344 million loss related to the sale of a 14% interest in MSSB, as well as the recognition of a $424 million loss related to the sale of a 10.1% stake in Akbank. | |||
| [3] Citigroup recorded repositioning charges of $1,375 million for 2012, $706 million for 2011 and $507 million for 2010. | |||
| [4] All per share amounts and Citigroup shares outstanding for all periods reflect Citigroup's 1-for-10 reverse stock split, which was effective May 6, 2011. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2012 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Net income before attribution of noncontrolling interests | $ 7,760 | 11,215 | 10,883 |
| Citigroup's other comprehensive income (loss) | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | 632 | 2,360 | 1,952 |
| Net change in cash flow hedges, net of taxes | 527 | (170) | 532 |
| Net change in foreign currency translation adjustment, net of taxes and hedges | 721 | (3,524) | 820 |
| Pension liability adjustment, net of taxes | (988) | (177) [1] | (644) |
| Citigroup's total other comprehensive income (loss) | 892 | (1,511) | 2,660 |
| Other comprehensive income (loss) attributable to noncontrolling interests | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | 32 | (5) | 1 |
| Net change in foreign currency translation adjustment, net of taxes | 58 | (87) | (27) |
| Total other comprehensive income (loss) attributable to noncontrolling interests | 90 | (92) | (26) |
| Total comprehensive income before attribution of noncontrolling interests | 8,742 | 9,612 | 13,517 |
| Total comprehensive income attributable to noncontrolling interests | 309 | 56 | 255 |
| Citigroup's comprehensive income | 8,433 | 9,556 | 13,262 |
| [1] Primarily reflects adjustments based on the year-end actuarial valuations of the Company's pension and postretirement plans and amortization of amounts previously recognized in Other comprehensive income. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2012 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash flows from operating activities of continuing operations | |||
| Net income before attribution of noncontrolling interests | $ 7,760 | 11,215 | 10,883 |
| Net income attributable to noncontrolling interests | 219 | 148 | 281 |
| Citigroup's net income | 7,541 | 11,067 | 10,602 |
| (Loss) income from discontinued operations, net of taxes | (148) | 17 | 215 |
| (Loss) gain on sale, net of taxes | (1) | 95 | (283) |
| Income from continuing operations-excluding noncontrolling interests | 7,690 | 10,955 | 10,670 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations | |||
| Amortization of deferred policy acquisition costs and present value of future profits | 203 | 250 | 302 |
| (Additions) reductions to deferred policy acquisition costs | 85 | (54) | (98) |
| Depreciation and amortization | 2,507 | 2,872 | 2,664 |
| Deferred tax benefit | (4,091) | (74) | (964) |
| Provision for credit losses | 10,832 | 11,824 | 25,077 |
| Realized gains from sales of investments | (3,251) | (1,997) | (2,411) |
| Net impairment losses recognized in earnings | 4,971 | 2,254 | 1,411 |
| Change in trading account assets | (29,195) | 38,238 | 15,601 |
| Change in trading account liabilities | (10,533) | (2,972) | (8,458) |
| Change in federal funds sold and securities borrowed or purchased under agreements to resell | 14,538 | (29,132) | (24,695) |
| Change in federal funds purchased and securities loaned or sold under agreements to repurchase | 12,863 | 8,815 | 35,277 |
| Change in brokerage receivables net of brokerage payables | 945 | 8,383 | (6,676) |
| Change in loans held-for-sale | (1,106) | 1,021 | 2,483 |
| Change in other assets | (524) | 14,933 | (7,538) |
| Change in other liabilities | (1,457) | (3,814) | (293) |
| Other, net | 9,794 | 3,277 | (6,666) |
| Total adjustments | 6,581 | 53,824 | 25,016 |
| Net cash provided by operating activities of continuing operations | 14,271 | 64,779 | 35,686 |
| Cash flows from investing activities of continuing operations | |||
| Change in deposits with banks | 53,650 | 6,653 | 4,977 |
| Change in loans | (28,817) | (31,597) | 60,730 |
| Proceeds from sales and securitizations of loans | 7,287 | 10,022 | 9,918 |
| Purchases of investments | (256,907) | (314,250) | (406,046) |
| Proceeds from sales of investments | 143,853 | 182,566 | 183,688 |
| Proceeds from maturities of investments | 102,020 | 139,959 | 189,814 |
| Capital expenditures on premises and equipment and capitalized software | (3,604) | (3,448) | (2,363) |
| Proceeds from sales of premises and equipment, subsidiaries and affiliates, and repossessed assets | 1,089 | 1,323 | 2,619 |
| Net cash provided by (used in) investing activities of continuing operations | 18,571 | (8,772) | 43,337 |
| Cash flows from financing activities of continuing operations | |||
| Dividends paid | (143) | (107) | (9) |
| Issuance of preferred stock | 2,250 | ||
| Issuance of ADIA Upper DECs equity units purchase contract | 3,750 | 3,750 | |
| Treasury stock acquired | (5) | (1) | (6) |
| Stock tendered for payment of withholding taxes | (194) | (230) | (806) |
| Issuance of long-term debt | 27,843 | 30,242 | 33,677 |
| Payments and redemptions of long-term debt | (117,575) | (89,091) | (75,910) |
| Change in deposits | 64,624 | 23,858 | 9,065 |
| Change in short-term borrowings | (2,164) | (25,067) | (47,189) |
| Net cash used in financing activities of continuing operations | (25,364) | (56,646) | (77,428) |
| Effect of exchange rate changes on cash and cash equivalents | 274 | (1,301) | 691 |
| Discontinued operations | |||
| Net cash provided by discontinued operations | 2,669 | 214 | |
| Change in cash and due from banks | 7,752 | 729 | 2,500 |
| Cash and due from banks at beginning of year | 28,701 | 27,972 | |
| Cash and due from banks at end of year | 36,453 | 28,701 | 27,972 |
| Supplemental disclosure of cash flow information for continuing operations | |||
| Cash paid during the year for income taxes | 3,900 | 2,705 | 4,307 |
| Cash paid during the year for interest | 19,739 | 21,230 | 23,209 |
| Non-cash investing activities | |||
| Transfers to OREO and other repossessed assets | 500 | 1,284 | 2,595 |
| 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: 2012 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| Assets | ||
| Cash and due from banks (including segregated cash and other deposits) | $ 36,453 | 28,701 |
| Deposits with banks | 102,134 | 155,784 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (including $160,589 and $142,862 as of December 31, 2012 and December 31, 2011, respectively, at fair value) | 261,311 | 275,849 |
| Brokerage receivables | 22,490 | 27,777 |
| Trading account assets | 320,929 | 291,734 |
| Investments | 312,326 | 293,413 |
| Loans, net of unearned income | ||
| Loans, net of unearned income | 655,464 | 647,242 |
| Allowance for loan losses | (25,455) | (30,115) |
| Total loans, net | 630,009 | 617,127 |
| Goodwill | 25,673 | 25,413 |
| Intangible assets (other than MSRs) | 5,697 | 6,600 |
| Mortgage servicing rights (MSRs) | 1,942 | 2,569 |
| Other assets | 145,660 | 148,911 |
| Assets of discontinued operations held for sale | 36 | |
| Total assets | 1,864,660 | 1,873,878 |
| Liabilities | ||
| Non-interest-bearing deposits in U.S. offices | 129,657 | 119,437 |
| Interest-bearing deposits in U.S. offices (including $889 and $848 as of December 31, 2012 and December 31, 2011, respectively, at fair value) | 247,716 | 223,851 |
| Non-interest-bearing deposits in offices outside the U.S. | 65,024 | 57,357 |
| Interest-bearing deposits in offices outside the U.S. (including $558 and $478 as of December 31, 2012 and December 31, 2011, respectively, at fair value) | 488,163 | 465,291 |
| Total deposits | 930,560 | 865,936 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (including $116,689 and $97,712 as of December 31, 2012 and December 31, 2011, respectively, at fair value) | 211,236 | 198,373 |
| Brokerage payables | 57,013 | 56,696 |
| Trading account liabilities | 115,549 | 126,082 |
| Short-term borrowings | 52,027 | 54,441 |
| Long-term debt | 239,463 | 323,505 |
| Other liabilities | 67,815 | 69,272 |
| Liabilities of discontinued operations held for sale | 0 | |
| Total liabilities | 1,673,663 | 1,694,305 |
| Stockholders' equity | ||
| Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 102,038 as of December 31, 2012 and 12,038 as of December 31, 2011, at aggregate liquidation value | 2,562 | 312 |
| Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,043,153,204 as of December 31, 2012 and 2,937,755,921 as of December 31, 2011 | 30 | 29 |
| Additional paid-in capital | 106,391 | 105,804 |
| Retained earnings | 97,809 | 90,520 |
| Treasury stock, at cost: December 31, 2012-14,269,301 shares and December 31, 2011-13,877,688 shares | (847) | (1,071) |
| Accumulated other comprehensive income (loss) | (16,896) | (17,788) |
| Total Citigroup stockholders' equity | 189,049 | 177,806 |
| Noncontrolling interest | 1,948 | 1,767 |
| Total equity | 190,997 | 179,573 |
| Total liabilities and equity | 1,864,660 | 1,873,878 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Cash and due from banks (including segregated cash and other deposits) | 498 | 591 |
| Trading account assets | 481 | 567 |
| Investments | 10,751 | 12,509 |
| Loans, net of unearned income | 117,620 | 127,055 |
| Allowance for loan losses | (5,854) | (8,000) |
| Total loans, net | 111,766 | 119,055 |
| Other assets | 674 | 874 |
| Total assets | 124,170 | 133,596 |
| Short-term borrowings | 15,637 | 21,009 |
| Long-term debt | 26,346 | 50,451 |
| Other liabilities | 1,224 | 1,051 |
| Total liabilities | 43,207 | 72,511 |
| Receivable Type | ||
| Consumer | ||
| Loans, net of unearned income | 408,671 | 423,340 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Loans, net of unearned income | 93,936 | 103,275 |
| Corporate | ||
| Loans, net of unearned income | 246,793 | 223,902 |
| Loans, net of unearned income | 23,684 | 23,780 |
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2012 | |
| 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 |