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: 2016 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenues | |||
| Interest revenue | $ 57,615 | 58,551 | 61,683 |
| Interest expense | 12,511 | 11,921 | 13,690 |
| Net interest revenue | 45,104 | 46,630 | 47,993 |
| Commissions and fees | 10,521 | 11,848 | 13,032 |
| Principal transactions | 7,585 | 6,008 | 6,698 |
| Administration and other fiduciary fees | 3,364 | 3,648 | 4,013 |
| Realized gains on sales of investments, net | 948 | 682 | 570 |
| Other-than-temporary impairment losses on investments | |||
| Gross impairment losses | (620) | (265) | (432) |
| Less: Impairments recognized in AOCI | 0 | 0 | 8 |
| Net impairment losses recognized in earnings | (620) [1] | (265) | (424) |
| Insurance premiums | 836 | 1,845 | 2,110 |
| Other revenue | 2,137 | 5,958 | 3,227 |
| Total non-interest revenues | 24,771 | 29,724 | 29,226 |
| Total revenues, net of interest expense | 69,875 | 76,354 | 77,219 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for loan losses | 6,749 | 7,108 | 6,828 |
| Policyholder benefits and claims | 204 | 731 | 801 |
| Provision (release) for unfunded lending commitments | 29 | 74 | (162) |
| Total provisions for credit losses and for benefits and claims | 6,982 | 7,913 | 7,467 |
| Operating expenses | |||
| Compensation and benefits | 20,970 | 21,769 | 23,959 |
| Premises and equipment | 2,542 | 2,878 | 3,178 |
| Technology/communication | 6,685 | 6,581 | 6,436 |
| Advertising and marketing | 1,632 | 1,547 | 1,844 |
| Other operating | 9,587 | 10,840 | 19,634 |
| Total operating expenses | 41,416 | 43,615 | 55,051 |
| Income (loss) from continuing operations before income taxes | 21,477 | 24,826 | 14,701 |
| Provision for income taxes | 6,444 | 7,440 | 7,197 |
| Income from continuing operations | 15,033 | 17,386 | 7,504 |
| Discontinued operations | |||
| Income (loss) from discontinued operations | (80) | (83) | 10 |
| Provision (benefit) for income taxes | (22) | (29) | 12 |
| Loss from discontinued operations, net of taxes | (58) | (54) | (2) |
| Net income before attribution of noncontrolling interests | 14,975 | 17,332 | 7,502 |
| Noncontrolling interests | 63 | 90 | 192 |
| Citigroups net income | 14,912 | 17,242 | 7,310 |
| Basic | |||
| Income from continuing operations (in dollars per share) | 4.74 | 5.43 | 2.21 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | (0.02) | (0.02) | 0.00 |
| Net income (in dollars per share) | 4.72 | 5.41 | 2.21 |
| Weighted average common shares outstanding (in shares) | 2,888,100 | 3,004,000 | 3,031,600 |
| Diluted | |||
| Income from continuing operations (in dollars per share) | 4.74 | 5.42 | 2.20 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | (0.02) | (0.02) | 0.00 |
| Net income (in dollars per share) | 4.72 | 5.40 | 2.20 [2] |
| Adjusted weighted average common shares outstanding (in shares) | 2,888,300 | 3,007,700 | 3,037,000 |
| [1] Certain prior-period revenue and expense lines and totals were reclassified to conform to the current periods presentation. See Note 3 to the Consolidated Financial Statements. | |||
| [2] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2016 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income before attribution of noncontrolling interests | $ 14,975 | 17,332 | 7,502 |
| Add: Citigroups other comprehensive income (loss) | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | 108 | (964) | 1,697 |
| Net change in debt valuation adjustment (DVA), net of taxes | (337) | 0 [1] | 0 |
| Net change in cash flow hedges, net of taxes | 57 | 292 | 336 |
| Benefit plans liability adjustment, net of taxes | (48) [2] | 43 | (1,170) |
| Net change in foreign currency translation adjustment, net of taxes and hedges | (2,802) | (5,499) | (4,946) |
| Citigroups total other comprehensive income (loss) | (3,022) | (6,128) | (4,083) |
| Total comprehensive income before attribution of noncontrolling interests | 11,953 | 11,204 | 3,419 |
| Less: Net income attributable to noncontrolling interests | 63 | 90 | 192 |
| Citigroups comprehensive income | 11,890 | 11,114 | 3,227 |
| [1] See Note 1 to the Consolidated Financial Statements. | |||
| [2] Reflects adjustments based on the actuarial valuations of Citis pension and postretirement plans, including changes in the mortality assumptions at December 31, 2014, and amortization of amounts previously recognized in Accumulated other comprehensive income (loss). See Note 8 to the Consolidated Financial Statements. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2016 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash flows from operating activities of continuing operations | |||
| Net income before attribution of noncontrolling interests | $ 14,975 | 17,332 | 7,502 |
| Net income attributable to noncontrolling interests | 63 | 90 | 192 |
| Citigroups net income | 14,912 | 17,242 | 7,310 |
| Loss from discontinued operations, net of taxes | (58) | (54) | (2) |
| Income from continuing operationsexcluding noncontrolling interests | 14,970 | 17,296 | 7,312 |
| Adjustments to reconcile net income to net cash provided by operating activities of continuing operations | |||
| Gains on significant disposals | (404) | (3,210) | (452) |
| Amortization of deferred policy acquisition costs and present value of future profits | 33 | 191 | 210 |
| Additions to deferred policy acquisition costs | (41) | (62) | (64) |
| Depreciation and amortization | 3,720 | 3,506 | 3,589 |
| Deferred tax provision | 1,459 | 2,794 | 3,347 |
| Provision for loan losses | 6,749 | 7,108 | 6,828 |
| Realized gains from sales of investments | (948) | (682) | (570) |
| Net impairment losses on investments, goodwill and intangible assets | 621 | 318 | 426 |
| Change in trading account assets | (2,710) | 46,830 | (10,858) |
| Change in trading account liabilities | 21,533 | (21,524) | 30,274 |
| Change in brokerage receivables, net of brokerage payables | 2,226 | 2,278 | (4,272) |
| Change in loans held-for-sale (HFS) | 6,603 | (7,207) | (1,144) |
| Change in other assets | (6,859) | (32) | (1,690) |
| Change in other liabilities | (28) | (1,135) | 7,973 |
| Other, net | 7,008 | (6,732) | 5,434 |
| Total adjustments | 38,962 | 22,441 | 39,031 |
| Net cash provided by operating activities of continuing operations | 53,932 | 39,737 | 46,343 |
| Cash flows from investing activities of continuing operations | |||
| Change in deposits with banks | (25,311) | 15,488 | 40,916 |
| Change in federal funds sold and securities borrowed or purchased under agreements to resell | (17,138) | 22,895 | 14,467 |
| Change in loans | (39,761) | 1,353 | 1,170 |
| Proceeds from sales and securitizations of loans | 18,140 | 9,610 | 4,752 |
| Purchases of investments | (211,402) | (242,362) | (258,992) |
| Proceeds from sales of investments | 132,183 | 141,470 | 135,824 [1] |
| Proceeds from maturities of investments | 65,525 | 82,047 | 94,117 |
| Proceeds from significant disposals | 265 | 5,932 | 346 |
| Payments due to transfers of net liabilities associated with significant disposals | 0 [2] | (18,929) | (1,255) |
| Capital expenditures on premises and equipment and capitalized software | (2,756) | (3,198) | (3,386) |
| Proceeds from sales of premises and equipment, subsidiaries and affiliates, and repossessed assets | 667 | 577 | 623 |
| Net cash provided by (used in) investing activities of continuing operations | (79,588) | 14,883 | 28,582 |
| Cash flows from financing activities of continuing operations | |||
| Dividends paid | (2,287) | (1,253) | (633) |
| Issuance of preferred stock | 2,498 | 6,227 | 3,699 |
| Treasury stock acquired | (9,290) | (5,452) | (1,232) |
| Stock tendered for payment of withholding taxes | (316) | (428) | (508) |
| Change in federal funds purchased and securities loaned or sold under agreements to repurchase | (4,675) | (26,942) | (30,074) |
| Issuance of long-term debt | 63,806 | 44,619 | 66,836 |
| Payments and redemptions of long-term debt | (55,460) | (52,843) | (58,923) |
| Change in deposits | 24,394 | 8,555 | (48,336) |
| Change in short-term borrowings | 9,622 | (37,256) | (1,099) |
| Net cash provided by (used in) financing activities of continuing operations | 28,292 | (64,773) | (70,270) |
| Effect of exchange rate changes on cash and cash equivalents | (493) | (1,055) | (2,432) |
| Change in cash and due from banks | 2,143 | (11,208) | 2,223 |
| Cash and due from banks at beginning of period | 20,900 | 32,108 | |
| Cash and due from banks at end of period | 23,043 | 20,900 | 32,108 |
| Supplemental disclosure of cash flow information for continuing operations | |||
| Cash paid during the year for income taxes | 4,359 | 4,978 | 4,632 |
| Cash paid during the year for interest | 12,067 | 12,031 | 14,001 |
| Non-cash investing activities | |||
| Change in loans due to consolidation/deconsolidation of VIEs | 0 | 0 | (374) |
| Decrease in net loans associated with significant disposals reclassified to HFS | 0 | (9,063) | 0 |
| Decrease in investments associated with significant disposals reclassified to HFS | 0 | (1,402) | 0 |
| Decrease in goodwill and intangible assets associated with significant disposals reclassified to HFS | 0 | (223) | 0 |
| Decrease in deposits associated with banks with significant disposals reclassified to HFS | 0 | (404) | 0 |
| Transfers to loans HFS from loans | 13,900 | 28,600 | 15,100 |
| Transfers to OREO and other repossessed assets | 165 | 276 | 321 |
| Non-cash financing activities | |||
| Decrease in long-term debt associated with significant disposals reclassified to HFS | 0 | (4,673) | 0 |
| Decrease in deposits associated with reclassification to HFS | 0 | 0 | (20,605) |
| Increase in short-term borrowings due to consolidation of VIEs | 0 | 0 | 500 |
| Decrease in long-term debt due to deconsolidation of VIEs | 0 | 0 | (864) |
| Investment, Name | |||
| China Guangfa Bank | |||
| Proceeds from sales of investments | 3,300 | ||
| [1] Proceeds for 2016 include approximately $3.3 billion from the sale of Citis investment in China Guangfa Bank. | |||
| [2] The payments associated with significant disposals result primarily from the sale of deposit liabilities. | See Note 1 to the Consolidated Financial Statements for the adoption of ASU No. 2014-08 in the second quarter of 2014 and Note 2 for further information on significant disposals. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CITIGROUP INC | ||
Ticker: C Fiscal Year: 2016 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 24, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Cash and due from banks (including segregated cash and other deposits) | $ 23,043 | 20,900 |
| Deposits with banks | 137,451 | 112,197 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (including $133,204 and $137,964 as of December 31, 2016 and December 31, 2015, respectively, at fair value) | 236,813 | 219,675 |
| Brokerage receivables | 28,887 | 27,683 |
| Trading account assets (including $80,986 and $92,123 pledged to creditors at December 31, 2016 and December 31, 2015, respectively) | 243,925 | 241,215 |
| Investments: | ||
| Available for sale (including $8,239 and $10,698 pledged to creditors as of December 31, 2016 and December 31, 2015, respectively) | 299,424 | 299,136 |
| Held to maturity (including $843 and $3,630 pledged to creditors as of December 31, 2016 and December 31, 2015, respectively) | 45,667 | 36,215 |
| Non-marketable equity securities (including $1,774 and $2,088 at fair value as of December 31, 2016 and December 31, 2015, respectively) | 8,213 | 7,604 |
| Total investments | 353,304 | 342,955 |
| Loans: | ||
| Loans, net of unearned income | 624,369 | 617,617 |
| Allowance for loan losses | (12,060) | (12,626) |
| Total loans, net | 612,309 | 604,991 |
| Goodwill | 21,659 | 22,349 |
| Intangible assets (other than MSRs) | 5,114 | 3,721 |
| Mortgage servicing rights (MSRs) | 1,564 | 1,781 |
| Other assets | 128,008 | 133,743 |
| Total assets | 1,792,077 | 1,731,210 |
| Liabilities | ||
| Non-interest-bearing deposits in U.S. offices | 136,698 | 139,249 |
| Interest-bearing deposits in U.S. offices (including $434 and $923 as of December 31, 2016 and December 31, 2015, respectively, at fair value) | 300,972 | 280,234 |
| Non-interest-bearing deposits in offices outside the U.S. | 77,616 | 71,577 |
| Interest-bearing deposits in offices outside the U.S. (including $778 and $667 as of December 31, 2016 and December 31, 2015, respectively, at fair value) | 414,120 | 416,827 |
| Total deposits | 929,406 | 907,887 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (including $33,663 and $36,843 as of December 31, 2016 and December 31, 2015, respectively, at fair value) | 141,821 | 146,496 |
| Brokerage payables | 57,152 | 53,722 |
| Trading account liabilities | 139,045 | 117,512 |
| Short-term borrowings (including $2,700 and $1,207 as of December 31, 2016 and December 31, 2015, respectively, at fair value) | 30,701 | 21,079 |
| Long-term debt (including $26,254 and $25,293 as of December 31, 2016 and December 31, 2015, respectively, at fair value) | 206,178 | 201,275 |
| Other liabilities (including $1,500 and $1,624 as of December 31, 2016 and December 31, 2015, respectively, at fair value) | 61,631 | 60,147 |
| Total liabilities | 1,565,934 | 1,508,118 |
| Stockholders equity | ||
| Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 770,120 as of December 31, 2016 and 668,720 as of December 31, 2015, at aggregate liquidation value | 19,253 | 16,718 |
| Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,099,482,042 as of December 31, 2016 and December 31, 2015 | 31 | 31 |
| Additional paid-in capital | 108,042 | 108,288 |
| Retained earnings | 146,477 | 133,841 |
| Treasury stock, at cost: December 31, 2016327,090,192 shares and December 31, 2015146,203,311 shares | (16,302) | (7,677) |
| Accumulated other comprehensive income (loss) | (32,381) | (29,344) |
| Total Citigroup stockholders equity | 225,120 | 221,857 |
| Noncontrolling interest | 1,023 | 1,235 |
| Total equity | 226,143 | 223,092 |
| Total liabilities and equity | 1,792,077 | 1,731,210 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Cash and due from banks (including segregated cash and other deposits) | 142 | 153 |
| Trading account assets (including $80,986 and $92,123 pledged to creditors at December 31, 2016 and December 31, 2015, respectively) | 602 | 583 |
| Total investments | 3,636 | 5,263 |
| Loans, net of unearned income | 73,522 | 80,780 |
| Allowance for loan losses | (1,769) | (2,135) |
| Total loans, net | 71,753 | 78,645 |
| Other assets | 158 | 150 |
| Total assets | 76,291 | 84,794 |
| Short-term borrowings (including $2,700 and $1,207 as of December 31, 2016 and December 31, 2015, respectively, at fair value) | 10,697 | 11,965 |
| Long-term debt (including $26,254 and $25,293 as of December 31, 2016 and December 31, 2015, respectively, at fair value) | 23,919 | 31,273 |
| Other liabilities (including $1,500 and $1,624 as of December 31, 2016 and December 31, 2015, respectively, at fair value) | 1,275 | 2,099 |
| Total liabilities | 35,891 | 45,337 |
| Financing Receivable Portfolio Segment | ||
| Consumer | ||
| Loans, net of unearned income | 325,366 | 325,785 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Loans, net of unearned income | 53,401 | 58,772 |
| Corporate | ||
| Loans, net of unearned income | 299,003 | 291,832 |
| Loans, net of unearned income | 20,121 | 22,008 |
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2016 | |
| 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 |