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: 2013 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2013 10-K (Filed: Mar 3, 2014) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Revenues | |||
| Interest revenue | $ 62,970 | 67,298 | 71,858 |
| Interest expense | 16,177 | 20,612 | 24,209 |
| Net interest revenue | 46,793 | 46,686 | 47,649 |
| Commissions and fees | 13,113 | 12,732 | 12,665 |
| Principal transactions | 7,121 | 4,781 | 7,234 |
| Administration and other fiduciary fees | 4,089 | 4,012 | 3,995 |
| Realized gains on sales of investments, net | 748 | 3,251 | 1,997 |
| Other-than-temporary impairment losses on investments | |||
| Gross impairment losses | (633) [1] | (5,037) | (2,413) |
| Less: Impairments recognized in AOCI | 98 | 66 | 159 |
| Net impairment losses recognized in earnings | (535) | (4,971) | (2,254) |
| Insurance premiums | 2,280 | 2,395 | 2,561 |
| Other revenue | 2,757 | 242 [2] | 3,484 |
| Total non-interest revenues | 29,573 | 22,442 | 29,682 |
| Total revenues, net of interest expense | 76,366 | 69,128 | 77,331 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for loan losses | 7,604 | 10,458 | 11,336 |
| Policyholder benefits and claims | 830 | 887 | 972 |
| Provision (release) for unfunded lending commitments | 80 | (16) | 51 |
| Total provisions for credit losses and for benefits and claims | 8,514 | 11,329 | 12,359 |
| Operating expenses | |||
| Compensation and benefits | 23,967 | 25,119 | 25,614 |
| Premises and equipment | 3,165 | 3,266 | 3,310 |
| Technology/communication | 6,136 | 5,829 | 5,055 |
| Advertising and marketing | 1,888 | 2,164 | 2,268 |
| Other operating | 13,199 | 13,596 | 14,003 |
| Total operating expenses | 48,355 | 49,974 | 50,250 [3] |
| Income (loss) from continuing operations before income taxes | 19,497 | 7,825 | 14,722 |
| Provision for income taxes | 5,867 | 7 | 3,575 |
| Income from continuing operations | 13,630 | 7,818 | 11,147 |
| Discontinued operations | |||
| Loss from discontinued operations | (242) | (109) | (75) |
| Gain (loss) on sale | 268 | (1) | 155 |
| Provision (benefit) for income taxes on discontinued operations | (244) | (52) | 12 |
| Income (loss) from discontinued operations, net of taxes | 270 | (58) | 68 |
| Net income before attribution of noncontrolling interests | 13,900 | 7,760 | 11,215 |
| Noncontrolling interests | 227 | 219 | 148 |
| Citigroup's net income | 13,673 | 7,541 | 11,067 |
| Basic earnings per share | |||
| Income from continuing operations (in dollars per share) | 4.27 [4] | 2.53 | 3.71 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | 0.09 | (0.02) | 0.02 |
| Net income (in dollars per share) | 4.35 | 2.51 | 3.73 |
| Weighted average common shares outstanding (in shares) | 3,035,800 | 2,930,600 | 2,909,800 |
| Diluted earnings per share | |||
| Income from continuing operations (in dollars per share) | 4.26 | 2.46 | 3.60 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | 0.09 | (0.02) | 0.02 |
| Net income (in dollars per share) | 4.35 | 2.44 | 3.63 |
| Adjusted weighted average common shares outstanding (in shares) | 3,041,600 [5] | 3,015,500 | 2,998,800 |
| [1] 2012 includes the recognition of a $3,340 million impairment charge related to the carrying value of Citi's then-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. The remaining MSSB interest was sold during 2013. See Note 14 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 T.A.S. See Note 14 to the Consolidated Financial Statements. | |||
| [3] Citigroup recorded repositioning charges of $590 million for 2013, $1,375 million for 2012 and $706 million for 2011. | |||
| [4] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income. | |||
| [5] 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: 2013 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2013 10-K (Filed: Mar 3, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net income before attribution of noncontrolling interests | $ 13,900 | 7,760 | 11,215 |
| Citigroup's other comprehensive income (loss) | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | (2,321) | 632 | 2,360 |
| Net change in cash flow hedges, net of taxes | 1,048 | 527 | (170) |
| Benefit plans liability adjustment, net of taxes | 1,281 [1] | (988) | (177) |
| Net change in foreign currency translation adjustment, net of taxes and hedges | (2,245) | 721 | (3,524) |
| Citigroup's total other comprehensive income (loss) | (2,237) | 892 | (1,511) |
| Net income attributable to noncontrolling interests | 227 | 219 | 148 |
| Other comprehensive income (loss) attributable to noncontrolling interests | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | (27) | 32 | (5) |
| Net change in foreign currency translation adjustment, net of taxes | 10 | 58 | (87) |
| Total other comprehensive income (loss) attributable to noncontrolling interests | (17) | 90 | (92) |
| Total comprehensive income attributable to noncontrolling interests | 210 | 309 | 56 |
| Citigroup's comprehensive income | 11,436 | 8,433 | 9,556 |
| [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: 2013 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2013 10-K (Filed: Mar 3, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash flows from operating activities of continuing operations | |||
| Net income before attribution of noncontrolling interests | $ 13,900 | 7,760 | 11,215 |
| Net income attributable to noncontrolling interests | 227 | 219 | 148 |
| Citigroup's net income | 13,673 | 7,541 | 11,067 |
| Loss from discontinued operations, net of taxes | (90) | (57) | (27) |
| Gain (loss) on sale, net of taxes | 360 | (1) | 95 |
| Income from continuing operations-excluding noncontrolling interests | 13,403 | 7,599 | 10,999 |
| 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 | 194 | 203 | 250 |
| (Additions) reductions to deferred policy acquisition costs | (54) | 85 | (54) |
| Depreciation and amortization | 3,303 | 2,507 | 2,872 |
| Deferred tax provision (benefit) | 2,380 | (4,091) | (74) |
| Provision for credit losses | 7,684 | 10,832 | 11,824 |
| Realized gains from sales of investments | (748) | (3,251) | (1,997) |
| Net impairment losses recognized in earnings | 535 | 4,971 | 2,254 |
| Change in trading account assets | 35,001 | (29,195) | 38,238 |
| Change in trading account liabilities | (6,787) | (10,533) | (2,972) |
| Change in federal funds sold and securities borrowed or purchased under agreements to resell | 4,274 | 14,538 | (29,132) |
| Change in federal funds purchased and securities loaned or sold under agreements to repurchase | (7,724) | 12,863 | 8,815 |
| Change in brokerage receivables net of brokerage payables | (6,490) | 945 | 8,383 |
| Change in loans held-for-sale | 4,321 | (1,106) | 1,021 |
| Change in other assets | 13,332 | (530) | 14,949 |
| Change in other liabilities | (7,880) | (1,457) | (3,814) |
| Other, net | 2,666 | 9,885 | 3,233 |
| Total adjustments | 44,007 | 6,666 | 53,796 |
| Net cash provided by operating activities of continuing operations | 57,410 | 14,265 | 64,795 |
| Cash flows from investing activities of continuing operations | |||
| Change in deposits with banks | (66,871) | 53,650 | 6,653 |
| Change in loans | (27,892) | (28,817) | (31,597) |
| Proceeds from sales and securitizations of loans | 9,123 | 7,287 | 10,022 |
| Purchases of investments | (220,823) | (256,907) | (314,250) |
| Proceeds from sales of investments | 131,100 | 143,853 | 182,566 |
| Proceeds from maturities of investments | 84,831 | 102,020 | 139,959 |
| Capital expenditures on premises and equipment and capitalized software | (3,490) | (3,604) | (3,448) |
| Proceeds from sales of premises and equipment, subsidiaries and affiliates, and repossessed assets | 716 | 1,089 | 1,323 |
| Net cash provided by (used in) investing activities of continuing operations | (93,306) | 18,571 | (8,772) |
| Cash flows from financing activities of continuing operations | |||
| Dividends paid | (314) | (143) | (107) |
| Issuance of preferred stock | 4,270 | 2,250 | |
| Redemption of preferred stock | (94) | ||
| Issuance of ADIA Upper DECs equity units purchase contract | 3,750 | ||
| Treasury stock acquired | (837) | (5) | (1) |
| Stock tendered for payment of withholding taxes | (452) | (194) | (230) |
| Issuance of long-term debt | 54,405 | 27,843 | 30,242 |
| Payments and redemptions of long-term debt | (63,994) | (117,575) | (89,091) |
| Change in deposits | 37,713 | 64,624 | 23,858 |
| Change in short-term borrowings | 199 | (2,164) | (25,067) |
| Net cash provided by (used in) financing activities of continuing operations | 30,896 | (25,364) | (56,646) |
| Effect of exchange rate changes on cash and cash equivalents | (1,558) | 274 | (1,301) |
| Discontinued operations | |||
| Net cash provided by discontinued operations | (10) | 6 | 2,653 |
| Change in cash and due from banks | (6,568) | 7,752 | 729 |
| Cash and due from banks at beginning of year | 36,453 | 28,701 | |
| Cash and due from banks at end of year | 29,885 | 36,453 | 28,701 |
| Supplemental disclosure of cash flow information for continuing operations | |||
| Cash paid during the year for income taxes | 4,495 | 3,900 | 2,705 |
| Cash paid during the year for interest | 14,383 | 19,739 | 21,230 |
| Non-cash investing activities | |||
| Increase in corporate loans due to consolidation of a commercial paper conduit | 6,718 | ||
| Transfers to loans held-for-sale from loans | 17,300 | 8,700 | 27,400 |
| Transfers to OREO and other repossessed assets | 325 | 500 | 1,284 |
| Transfers to trading account assets from investments (held-to-maturity) | 12,700 | ||
| Non-cash financing activities | |||
| Increase in short-term borrowings due to consolidation of a commercial paper conduit | 6,718 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CITIGROUP INC | ||
Ticker: C Fiscal Year: 2013 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2013 10-K (Filed: Mar 3, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| Assets | ||
| Cash and due from banks (including segregated cash and other deposits) | $ 29,885 | 36,453 |
| Deposits with banks | 169,005 | 102,134 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (including $141,481 and $160,589 as of December 31, 2013 and December 31, 2012, respectively, at fair value) | 257,037 | 261,311 |
| Brokerage receivables | 25,674 | 22,490 |
| Trading account assets | 285,928 | 320,929 |
| Investments | 308,980 | 312,326 |
| Loans, net of unearned income | ||
| Loans, net of unearned income | 665,472 | 655,464 |
| Allowance for loan losses | (19,648) | (25,455) |
| Total loans, net | 645,824 | 630,009 |
| Goodwill | 25,009 | 25,673 |
| Intangible assets (other than MSRs) | 5,056 | 5,697 |
| Mortgage servicing rights (MSRs) | 2,718 | 1,942 |
| Other assets | 125,266 | 145,660 |
| Assets of discontinued operations held for sale | 36 | |
| Total assets | 1,880,382 | 1,864,660 |
| Liabilities | ||
| Non-interest-bearing deposits in U.S. offices | 128,399 | 129,657 |
| Interest-bearing deposits in U.S. offices (including $988 and $889 as of December 31, 2013 and December 31, 2012, respectively, at fair value) | 284,164 | 247,716 |
| Non-interest-bearing deposits in offices outside the U.S. | 69,406 | 65,024 |
| Interest-bearing deposits in offices outside the U.S. (including $689 and $558 as of December 31, 2013 and December 31, 2012, respectively, at fair value) | 486,304 | 488,163 |
| Total deposits | 968,273 | 930,560 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (including $51,545 and $116,689 as of December 31, 2013 and December 31, 2012, respectively, at fair value) | 203,512 | 211,236 |
| Brokerage payables | 53,707 | 57,013 |
| Trading account liabilities | 108,762 | 115,549 |
| Short-term borrowings | 58,944 | 52,027 |
| Long-term debt | 221,116 | 239,463 |
| Other liabilities | 59,935 | 67,815 |
| Liabilities of discontinued operations held for sale | 0 | |
| Total liabilities | 1,674,249 | 1,673,663 |
| Stockholders' equity | ||
| Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 269,520 as of December 31, 2013 and 102,038 as of December 31, 2012, at aggregate liquidation value | 6,738 | 2,562 |
| Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,062,098,976 as of December 31, 2013 and 3,043,153,204 as of December 31, 2012 | 31 | 30 |
| Additional paid-in capital | 107,193 | 106,391 |
| Retained earnings | 111,168 | 97,809 |
| Treasury stock, at cost: December 31, 2013-32,856,062 shares and December 31, 2012-14,269,301 shares | (1,658) | (847) |
| Accumulated other comprehensive income (loss) | (19,133) | (16,896) |
| Total Citigroup stockholders' equity | 204,339 | 189,049 |
| Noncontrolling interests | 1,794 | 1,948 |
| Total equity | 206,133 | 190,997 |
| Total liabilities and equity | 1,880,382 | 1,864,660 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Cash and due from banks (including segregated cash and other deposits) | 360 | 498 |
| Trading account assets | 977 | 481 |
| Investments | 10,416 | 10,751 |
| Loans, net of unearned income | 95,412 | 117,620 |
| Allowance for loan losses | (3,502) | (5,854) |
| Total loans, net | 91,910 | 111,766 |
| Other assets | 1,233 | 674 |
| Total assets | 104,896 | 124,170 |
| Short-term borrowings | 21,793 | 15,637 |
| Long-term debt | 34,743 | 26,346 |
| Other liabilities | 999 | 1,224 |
| Total liabilities | 57,535 | 43,207 |
| Receivable Type | ||
| Consumer | ||
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Loans, net of unearned income | 63,493 | 93,936 |
| Loans, net of unearned income | 393,831 | 408,671 |
| Allowance for loan losses | (22,679) | |
| Corporate | ||
| Loans, net of unearned income | 31,919 | 23,684 |
| Loans, net of unearned income | 271,641 | 246,793 |
| Allowance for loan losses | (2,776) | |
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2013 | |
| 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 |