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: 2017 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenues | |||
| Interest revenue | $ 61,204 | 57,615 | 58,551 |
| Interest expense | 16,517 | 12,511 | 11,921 |
| Net interest revenue | 44,687 | 45,104 | 46,630 |
| Commissions and fees | 12,939 | 11,938 | 14,485 |
| Principal transactions | 9,168 | 7,585 | 6,008 |
| Administration and other fiduciary fees | 3,079 | 2,783 | 2,856 |
| Realized gains on sales of investments, net | 778 | 948 [1] | 682 |
| Other-than-temporary impairment losses on investments | |||
| Gross impairment losses | (63) | (620) | (265) |
| Less: Impairments recognized in AOCI | 0 | 0 | 0 |
| Net impairment losses recognized in earnings | (63) | (620) | (265) |
| Other revenue | 861 | 2,137 | 5,958 |
| Total non-interest revenues | 26,762 | 24,771 | 29,724 |
| Total revenues, net of interest expense | 71,449 | 69,875 | 76,354 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for loan losses | 7,503 | 6,749 | 7,108 |
| Policyholder benefits and claims | 109 | 204 | 731 |
| Provision (release) for unfunded lending commitments | (161) | 29 | 74 |
| Total provisions for credit losses and for benefits and claims | 7,451 | 6,982 | 7,913 |
| Operating expenses | |||
| Compensation and benefits | 21,181 | 20,970 | 21,769 |
| Premises and equipment | 2,453 | 2,542 | 2,878 |
| Technology/communication | 6,891 | 6,685 | 6,581 |
| Advertising and marketing | 1,608 | 1,632 | 1,547 |
| Other operating | 9,104 | 9,587 | 10,840 |
| Total operating expenses | 41,237 | 41,416 | 43,615 |
| Income (loss) from continuing operations before income taxes | 22,761 | 21,477 | 24,826 |
| Provision for income taxes (benefits) | 29,388 | 6,444 | 7,440 |
| Income (loss) from continuing operations | (6,627) | 15,033 | 17,386 |
| Discontinued operations | |||
| Loss from discontinued operations | (104) | (80) | (83) |
| Provision (benefit) for income taxes | 7 | (22) | (29) |
| Loss from discontinued operations, net of taxes | (111) | (58) | (54) |
| Net income (loss) before attribution of noncontrolling interests | (6,738) | 14,975 | 17,332 |
| Noncontrolling interests | 60 | 63 | 90 |
| Citigroups net income (loss) | (6,798) | 14,912 | 17,242 |
| Basic earnings per share | |||
| Income (loss) from continuing operations (in dollars per share) | (2.94) | 4.74 | 5.43 |
| Loss from discontinued operations, net of taxes (in dollars per share) | (0.04) [2] | (0.02) | (0.02) |
| Net income (loss) (in dollars per share) | (2.98) | 4.72 | 5.41 |
| Weighted average common shares outstanding (in shares) | 2,698,500 | 2,888,100 | 3,004,000 |
| Diluted earnings per share | |||
| Income (loss) from continuing operations (in dollars per share) | (2.94) | 4.74 | 5.42 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | (0.04) | (0.02) | (0.02) |
| Net income (loss) (in dollars per share) | (2.98) | 4.72 | 5.40 |
| Adjusted weighted average common shares outstanding (in shares) | 2,698,500 | 2,888,300 | 3,007,700 |
| [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: 2017 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Citigroups net income (loss) | $ (6,798) | 14,912 | 17,242 |
| Add: Citigroups other comprehensive income (loss) | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | (863) | 108 | (964) |
| Net change in debt valuation adjustment (DVA), net of taxes | (569) [1] | (337) | 0 |
| Net change in cash flow hedges, net of taxes | (138) | 57 | 292 |
| Benefit plans liability adjustment, net of taxes | (1,019) [2] | (48) | 43 |
| Net change in foreign currency translation adjustment, net of taxes and hedges | (202) | (2,802) | (5,499) |
| Citigroups total other comprehensive income (loss) | (2,791) | (3,022) | (6,128) [3] |
| Citigroups total comprehensive income (loss) | (9,589) | 11,890 | 11,114 |
| Add: Other comprehensive income (loss) attributable to noncontrolling interests | 114 | (56) | (83) |
| Add: Net income attributable to noncontrolling interests | 60 | 63 | 90 |
| Total comprehensive income (loss) | (9,415) | 11,897 | 11,121 |
| [1] See Note 1 to the Consolidated Financial Statements. | |||
| [2] See Note 8 to the Consolidated Financial Statements. | |||
| [3] Includes the impact of ASU 2018-02, adopted in the fourth quarter of 2017. See Note 1 to the Consolidated Financial Statements. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2017 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash flows from operating activities of continuing operations | |||
| Citigroups net income | $ (6,738) | 14,975 | 17,332 |
| Net income attributable to noncontrolling interests | 60 | 63 | 90 |
| Citigroups net income (loss) | (6,798) | 14,912 | 17,242 |
| Loss from discontinued operations, net of taxes | (111) | (58) | (54) |
| Income (loss) from continuing operationsexcluding noncontrolling interests | (6,687) | 14,970 | 17,296 |
| Adjustments to reconcile net income to net cash provided by operating activities of continuing operations | |||
| Net gains on significant disposals | (602) | (404) | (3,210) [1] |
| Depreciation and amortization | 3,659 | 3,720 | 3,506 |
| Deferred tax provision | 24,877 [2] | 1,459 | 2,794 |
| Provision for loan losses | 7,503 | 6,749 | 7,108 |
| Realized gains from sales of investments | (778) | (948) | (682) |
| Net impairment losses on investments, goodwill and intangible assets | 91 | 621 | 318 |
| Change in trading account assets | (7,726) | (2,710) | 46,830 |
| Change in trading account liabilities | (14,998) | 21,533 | (21,524) |
| Change in brokerage receivables, net of brokerage payables | (5,307) | 2,226 | 2,278 |
| Change in loans held-for-sale (HFS) | 247 | 6,603 | (7,207) |
| Change in other assets | (2,489) | (6,859) | (32) |
| Change in other liabilities | (3,421) | (28) | (1,135) |
| Other, net | (2,956) | 7,000 | (6,603) |
| Total adjustments | (1,900) | 38,962 | 22,441 |
| Net cash provided by (used in) operating activities of continuing operations | (8,587) | 53,932 | 39,737 |
| Cash flows from investing activities of continuing operations | |||
| Change in deposits with banks | (19,290) | (25,311) | 15,488 |
| Change in federal funds sold and securities borrowed or purchased under agreements to resell | 4,335 | (17,138) | 22,895 |
| Change in loans | (58,062) | (39,761) | 1,353 |
| Proceeds from sales and securitizations of loans | 8,365 | 18,140 | 9,610 |
| Purchases of investments | (185,740) | (211,402) | (242,362) |
| Proceeds from sales of investments | 107,368 | 132,183 | 141,470 [3] |
| Proceeds from maturities of investments | 84,369 | 65,525 | 82,047 |
| Proceeds from significant disposals | 3,411 | 265 | 5,932 |
| Payments due to transfers of net liabilities associated with significant disposals | 0 [4] | 0 | (18,929) |
| Capital expenditures on premises and equipment and capitalized software | (3,361) | (2,756) | (3,198) |
| Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets | 377 | 667 | 577 |
| Net cash provided by (used in) investing activities of continuing operations | (58,228) | (79,588) | 14,883 |
| Cash flows from financing activities of continuing operations | |||
| Dividends paid | (3,797) | (2,287) | (1,253) |
| Issuance of preferred stock | 0 | 2,498 | 6,227 |
| Treasury stock acquired | (14,541) | (9,290) | (5,452) |
| Stock tendered for payment of withholding taxes | (405) | (316) | (428) |
| Change in federal funds purchased and securities loaned or sold under agreements to repurchase | 14,456 | (4,675) | (26,942) |
| Issuance of long-term debt | 67,960 | 63,806 | 44,619 |
| Payments and redemptions of long-term debt | (40,986) | (55,460) | (52,843) |
| Change in deposits | 30,416 | 24,394 | 8,555 |
| Change in short-term borrowings | 13,751 | 9,622 | (37,256) |
| Net cash provided by (used in) financing activities of continuing operations | 66,854 | 28,292 | (64,773) |
| Effect of exchange rate changes on cash and cash equivalents | 693 | (493) | (1,055) |
| Change in cash and due from banks | 732 | 2,143 | (11,208) |
| Cash and due from banks at beginning of period | 23,043 | 20,900 | |
| Cash and due from banks at end of period | 23,775 | 23,043 | 20,900 |
| Supplemental disclosure of cash flow information for continuing operations | |||
| Cash paid during the year for income taxes | 2,083 | 4,359 | 4,978 |
| Cash paid during the year for interest | 15,675 | 12,067 | 12,031 |
| Non-cash investing activities | |||
| Decrease in net loans associated with significant disposals reclassified to HFS | 0 | 0 | (9,063) |
| Decrease in investments associated with significant disposals reclassified to HFS | 0 | 0 | (1,402) |
| Decrease in goodwill and intangible assets associated with significant disposals reclassified to HFS | 0 | 0 | (223) |
| Decrease in deposits associated with banks with significant disposals reclassified to HFS | 0 | 0 | (404) |
| Transfers to loans HFS from loans | 5,900 | 13,900 | 28,600 |
| Transfers to OREO and other repossessed assets | 113 | 165 | 276 |
| Non-cash financing activities | |||
| Decrease in long-term debt associated with significant disposals reclassified to HFS | 0 | 0 | (4,673) |
| [1] See Note 2 to the Consolidated Financial Statements for further information on significant disposals. | |||
| [2] Includes the full impact of the $22.6 billion non-cash charge related to the Tax Cuts and Jobs Act (Tax Reform). See Notes 1 and 9 to the Consolidated Financial Statements for further information. | |||
| [3] Proceeds for 2016 include approximately $3.3 billion from the sale of Citis investment in China Guangfa Bank. | |||
| [4] The payments associated with significant disposals result primarily from the sale of deposit liabilities. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CITIGROUP INC | ||
Ticker: C Fiscal Year: 2017 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Cash and due from banks | $ 23,775 | 23,043 |
| Deposits with banks | 156,741 | 137,451 |
| Federal funds sold and securities borrowed or purchased under agreements to resell (including $132,949 and $133,204 as of December 31, 2017 and December 31, 2016, respectively, at fair value) | 232,478 | 236,813 |
| Brokerage receivables | 38,384 | 28,887 |
| Trading account assets (including $99,460 and $80,986 pledged to creditors at December 31, 2017 and December 31, 2016, respectively) | 251,556 | 243,925 |
| Investments: | ||
| Available for sale (including $9,493 and $8,239 pledged to creditors as of December 31, 2017 and December 31, 2016, respectively) | 290,914 | 299,424 |
| Held to maturity (including $435 and $843 pledged to creditors as of December 31, 2017 and December 31, 2016, respectively) | 53,320 | 45,667 |
| Non-marketable equity securities (including $1,206 and $1,774 at fair value as of December 31, 2017 and December 31, 2016, respectively) | 8,056 | 8,213 |
| Total investments | 352,290 | 353,304 |
| Loans: | ||
| Loans, net of unearned income | 667,034 | 624,369 |
| Allowance for loan losses | (12,355) | (12,060) |
| Total loans, net | 654,679 | 612,309 |
| Goodwill | 22,256 | 21,659 |
| Intangible assets (other than MSRs) | 4,588 | 5,114 |
| Mortgage servicing rights (MSRs) | 558 | 1,564 |
| Other assets | 105,160 | 128,008 |
| Total assets | 1,842,465 | 1,792,077 |
| Liabilities | ||
| Non-interest-bearing deposits in U.S. offices | 126,880 | 136,698 |
| Interest-bearing deposits in U.S. offices (including $303 and $434 as of December 31, 2017 and December 31, 2016, respectively, at fair value) | 318,613 | 300,972 |
| Non-interest-bearing deposits in offices outside the U.S. | 87,440 | 77,616 |
| Interest-bearing deposits in offices outside the U.S. (including $1,162 and $778 as of December 31, 2017 and December 31, 2016, respectively, at fair value) | 426,889 | 414,120 |
| Total deposits | 959,822 | 929,406 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase (including $40,638 and $33,663 as of December 31, 2017 and December 31, 2016, respectively, at fair value) | 156,277 | 141,821 |
| Brokerage payables | 61,342 | 57,152 |
| Trading account liabilities | 124,047 | 139,045 |
| Short-term borrowings (including $4,627 and $2,700 as of December 31, 2017 and December 31, 2016, respectively, at fair value) | 44,452 | 30,701 |
| Long-term debt (including $31,392 and $26,254 as of December 31, 2017 and December 31, 2016, respectively, at fair value) | 236,709 | 206,178 |
| Other liabilities (including $15,084 and $10,796 as of December 31, 2017 and December 31, 2016, respectively, at fair value) | 58,144 | 61,631 |
| Total liabilities | 1,640,793 | 1,565,934 |
| Stockholders equity | ||
| Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 770,120 as of December 31, 2017 and December 31, 2016, at aggregate liquidation value | 19,253 | 19,253 |
| Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,099,523,273 and 3,099,482,042 as of December 31, 2017 and December 31, 2016, respectively | 31 | 31 |
| Additional paid-in capital | 108,008 | 108,042 |
| Retained earnings | 138,425 | 146,477 |
| Treasury stock, at cost: December 31, 2017529,614,728 shares and December 31, 2016327,090,192 shares | (30,309) | (16,302) |
| Accumulated other comprehensive income (loss) | (34,668) | (32,381) |
| Total Citigroup stockholders equity | 200,740 | 225,120 |
| Noncontrolling interest | 932 | 1,023 |
| Total equity | 201,672 | 226,143 |
| Total liabilities and equity | 1,842,465 | 1,792,077 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Cash and due from banks | 52 | 142 |
| Trading account assets (including $99,460 and $80,986 pledged to creditors at December 31, 2017 and December 31, 2016, respectively) | 1,129 | 602 |
| Total investments | 2,498 | 3,636 |
| Loans, net of unearned income | 74,491 | 73,522 |
| Allowance for loan losses | (1,930) | (1,769) |
| Total loans, net | 72,561 | 71,753 |
| Other assets | 154 | 158 |
| Total assets | 76,394 | 76,291 |
| Short-term borrowings (including $4,627 and $2,700 as of December 31, 2017 and December 31, 2016, respectively, at fair value) | 10,079 | 10,697 |
| Long-term debt (including $31,392 and $26,254 as of December 31, 2017 and December 31, 2016, respectively, at fair value) | 30,492 | 23,919 |
| Other liabilities (including $15,084 and $10,796 as of December 31, 2017 and December 31, 2016, respectively, at fair value) | 611 | 1,275 |
| Total liabilities | 41,182 | 35,891 |
| Financing Receivable Portfolio Segment | ||
| Consumer | ||
| Loans, net of unearned income | 333,656 | 325,063 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Loans, net of unearned income | 54,656 | 53,401 |
| Corporate | ||
| Loans, net of unearned income | 19,835 | 20,121 |
| Loans, net of unearned income | 333,378 | 299,306 |
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2017 | |
| 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 |