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: 2018 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 22, 2019) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Revenues | |||
| Interest revenue | $ 70,828 | 61,579 | 57,988 |
| Interest expense | 24,266 | 16,518 | 12,512 |
| Net interest revenue | 46,562 | 45,061 | 45,476 |
| Commissions and fees | 11,857 | 12,707 | 11,678 |
| Principal transactions | 9,062 | 9,475 | 7,857 |
| Administration and other fiduciary fees | 3,580 | 3,584 | 3,294 |
| Realized gains on sales of investments, net | 421 | 778 | 949 |
| Impairment losses on investments | |||
| Gross impairment losses | (132) | (63) | (620) |
| Net impairment losses recognized in earnings | (132) | (63) | (620) |
| Other revenue | 1,504 | 902 | 2,163 |
| Total non-interest revenues | 26,292 | 27,383 | 25,321 |
| Total revenues, net of interest expense | 72,854 | 72,444 | 70,797 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for loan losses | 7,354 | 7,503 | 6,749 |
| Policyholder benefits and claims | 101 | 109 | 204 |
| Provision (release) for unfunded lending commitments | 113 | (161) | 29 |
| Total provisions for credit losses and for benefits and claims | 7,568 | 7,451 | 6,982 |
| Operating expenses | |||
| Compensation and benefits | 21,154 | 21,181 | 20,970 |
| Premises and equipment | 2,324 [1] | 2,453 | 2,542 |
| Technology/communication | 7,193 | 6,909 | 6,701 |
| Advertising and marketing | 1,545 | 1,608 | 1,632 |
| Other operating | 9,625 | 10,081 | 10,493 |
| Total operating expenses | 41,841 | 42,232 | 42,338 |
| Income (loss) from continuing operations before income taxes | 23,445 | 22,761 | 21,477 |
| Provision for income taxes | 5,357 | 29,388 | 6,444 |
| Income (loss) from continuing operations | 18,088 | (6,627) | 15,033 |
| Discontinued operations | |||
| Loss from discontinued operations | (26) | (104) | (80) |
| Provision (benefit) for income taxes | (18) | 7 | (22) |
| Loss from discontinued operations, net of taxes | (8) | (111) | (58) |
| Net income (loss) before attribution of noncontrolling interests | 18,080 | (6,738) | 14,975 |
| Noncontrolling interests | 35 | 60 | 63 |
| Citigroups net income (loss) | 18,045 | (6,798) | 14,912 |
| Basic earnings per share | |||
| Income (loss) from continuing operations (in dollars per share) | 6.69 | (2.94) | 4.74 |
| Loss from discontinued operations, net of taxes (in dollars per share) | 0.00 | (0.04) | (0.02) |
| Net income (loss) (in dollars per share) | 6.69 | (2.98) | 4.72 |
| Weighted average common shares outstanding (in shares) | 2,493,300 | 2,698,500 | 2,888,100 |
| Diluted earnings per share | |||
| Income (loss) from continuing operations (in dollars per share) | 6.69 | (2.94) | 4.74 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | 0.00 | (0.04) | (0.02) [2] |
| Net income (loss) (in dollars per share) | 6.68 | (2.98) | 4.72 |
| Adjusted weighted average common shares outstanding (in shares) | 2,494,800 | 2,698,500 | 2,888,300 |
| [1] Certain prior-period revenue and expense lines and totals were reclassified to conform to the current periods presentation. See Notes 1 and 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: 2018 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 22, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Citigroups net income (loss) | $ 18,045 | (6,798) | 14,912 |
| Add: Citigroups other comprehensive income (loss) | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | (1,089) | (863) | 108 [1] |
| Net change in debt valuation adjustment (DVA), net of taxes | 1,113 | (569) | (337) [2] |
| Net change in cash flow hedges, net of taxes | (30) | (138) | 57 |
| Benefit plans liability adjustment, net of taxes | (74) [3] | (1,019) | (48) |
| Net change in foreign currency translation adjustment, net of taxes and hedges | (2,362) | (202) | (2,802) |
| Net change in excluded component of fair value hedges, net of taxes | (57) | 0 | 0 |
| Citigroups total other comprehensive income (loss) | (2,499) [4] | (2,791) | (3,022) |
| Citigroups total comprehensive income (loss) | 15,546 | (9,589) | 11,890 |
| Add: Other comprehensive income (loss) attributable to noncontrolling interests | (43) | 114 | (56) |
| Add: Net income attributable to noncontrolling interests | 35 | 60 | 63 |
| Total comprehensive income (loss) | 15,538 | (9,415) | 11,897 |
| [1] For the year ended December 31, 2018, amount represents the net change in unrealized gains and losses on available-for-sale (AFS) debt securities. Effective January 1, 2018, the AFS category is eliminated for equity securities under ASU 2016-01. | |||
| [2] See Note 1 to the Consolidated Financial Statements. | |||
| [3] See Note 8 to the Consolidated Financial Statements. | |||
| [4] Includes the impact of ASU 2018-02, adopted in 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: 2018 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 22, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Cash flows from operating activities of continuing operations | |||
| Citigroups net income | $ 18,080 | (6,738) | 14,975 |
| Net income attributable to noncontrolling interests | 35 | 60 | 63 |
| Citigroups net income (loss) | 18,045 | (6,798) | 14,912 |
| Loss from discontinued operations, net of taxes | (8) | (111) | (58) |
| Income (loss) from continuing operationsexcluding noncontrolling interests | 18,053 | (6,687) | 14,970 |
| Adjustments to reconcile net income to net cash provided by operating activities of continuing operations | |||
| Net gains on significant disposals | (247) | (602) | (404) |
| Depreciation and amortization | 3,754 | 3,659 | 3,720 |
| Deferred tax provision | (51) [1] | 24,877 | 1,459 |
| Provision for loan losses | 7,354 | 7,503 | 6,749 |
| Realized gains from sales of investments | (421) | (778) | (948) |
| Net impairment losses on investments, goodwill and intangible assets | 132 | 91 | 621 |
| Change in trading account assets | (3,469) | (7,038) | (3,092) |
| Change in trading account liabilities | 19,135 | (15,375) | 21,409 |
| Change in brokerage receivables, net of brokerage payables | 6,163 | (5,307) | 2,226 |
| Change in loans HFS | 770 | 247 | 6,603 |
| Change in other assets | (5,791) | (3,364) | (6,676) |
| Change in other liabilities | (871) | (3,044) | 96 |
| Other, net | (7,559) | (2,956) | 7,000 |
| Total adjustments | 18,899 | (2,087) | 38,763 |
| Net cash provided by (used in) operating activities of continuing operations | 36,952 | (8,774) | 53,733 |
| Cash flows from investing activities of continuing operations | |||
| Change in federal funds sold and securities borrowed or purchased under agreements to resell | (38,206) | 4,335 | (17,138) |
| Change in loans | (29,002) | (58,062) | (39,761) |
| Proceeds from sales and securitizations of loans | 4,549 | 8,365 | 18,140 |
| Purchases of investments | (186,987) | (185,740) | (211,402) |
| Proceeds from sales of investments | 61,491 | 107,368 | 132,183 [2] |
| Proceeds from maturities of investments | 118,104 | 84,369 | 65,525 |
| Proceeds from significant disposals | 314 | 3,411 [3] | 265 |
| Capital expenditures on premises and equipment and capitalized software | (3,774) | (3,361) | (2,756) |
| Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets | 212 | 377 | 667 |
| Other, net | 181 | 187 | 142 |
| Net cash used in investing activities of continuing operations | (73,118) | (38,751) | (54,135) |
| Cash flows from financing activities of continuing operations | |||
| Dividends paid | (5,020) | (3,797) | (2,287) |
| Issuance (redemption) of preferred stock | (793) | 0 | 2,498 |
| Treasury stock acquired | (14,433) | (14,541) | (9,290) |
| Stock tendered for payment of withholding taxes | (482) | (405) | (316) |
| Change in federal funds purchased and securities loaned or sold under agreements to repurchase | 21,491 | 14,456 | (4,675) |
| Issuance of long-term debt | 60,655 | 67,960 | 63,806 |
| Payments and redemptions of long-term debt | (58,132) | (40,986) | (55,460) |
| Change in deposits | 53,348 | 30,416 | 24,394 |
| Change in short-term borrowings | (12,106) | 13,751 | 9,622 |
| Net cash provided by financing activities of continuing operations | 44,528 | 66,854 | 28,292 |
| Effect of exchange rate changes on cash and cash equivalents | (773) | 693 | (493) |
| Change in cash and due from banks and deposits with banks | 7,589 [4] | 20,022 | 27,397 |
| Cash, due from banks and deposits with banks at begining of period | 180,516 | 160,494 | |
| Cash, due from banks and deposits with banks at end of period | 188,105 | 180,516 | 160,494 |
| Cash and due from banks | 23,645 | 23,775 | 23,043 |
| Deposits with banks | 164,460 | 156,741 | 137,451 |
| Cash, due from banks and deposits with banks at end of period | 188,105 | 180,516 | 160,494 |
| Supplemental disclosure of cash flow information for continuing operations | |||
| Cash paid during the year for income taxes | 4,313 | 2,083 | 4,359 |
| Cash paid during the year for interest | 22,963 | 15,675 | 12,067 |
| Non-cash investing activities | |||
| Transfers to loans HFS from loans | 4,200 | 5,900 | 13,900 |
| Transfers to OREO and other repossessed assets | 151 | 113 | 165 |
| [2] Proceeds for 2016 include approximately $3.3 billion from the sale of Citis investment in China Guangfa Bank. | |||
| [3] See Note 2 to the Consolidated Financial Statements for further information on significant disposals. | |||
| [4] Includes the impact of ASU 2016-18, Restricted Cash. See Notes 1 and 26 to the Consolidated Financial Statements. | |||
| [1] Includes the full impact of the $22.6 billion non-cash charge related to the Tax Cuts and Jobs Act (Tax Reform) in 2017. See Notes 1 and 9 to the Consolidated Financial Statements for further information. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CITIGROUP INC | ||
Ticker: C Fiscal Year: 2018 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 22, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| Assets | ||
| Cash and due from banks (including segregated cash and other deposits) | $ 23,645 | 23,775 |
| Deposits with banks | 164,460 | 156,741 |
| Federal funds sold and securities borrowed and purchased under agreements to resell (including $147,701 and $132,949 as of December 31, 2018 and 2017, respectively, at fair value) | 270,684 | 232,478 |
| Brokerage receivables | 35,450 | 38,384 |
| Trading account assets (including $112,932 and $99,460 pledged to creditors at December 31, 2018 and 2017, respectively) | 256,117 | 252,790 |
| Investments: | ||
| Available-for-sale debt securities (including $9,289 and $9,493 pledged to creditors as of December 31, 2018 and 2017, respectively) | 288,038 | 290,725 |
| Held-to-maturity debt securities (including $971 and $435 pledged to creditors as of December 31, 2018 and 2017, respectively) | 63,357 | 53,320 |
| Equity securities (including $1,109 and $1,395 at fair value as of December 31, 2018 and 2017, respectively, of which $189 was available for sale as of December 31, 2017) | 7,212 | 8,245 |
| Total investments | 358,607 | 352,290 |
| Loans: | ||
| Loans, net of unearned income | 684,196 | 667,034 |
| Allowance for loan losses | (12,315) | (12,355) |
| Total loans, net | 671,881 | 654,679 |
| Goodwill | 22,046 | 22,256 |
| Intangible assets (including MSRs of $584 and $558 as of December 31, 2018 and 2017, respectively, at fair value) | 5,220 | 5,146 |
| Other assets | 109,273 | 103,926 |
| Total assets | 1,917,383 | 1,842,465 |
| Liabilities | ||
| Non-interest-bearing deposits in U.S. offices | 105,836 | 126,880 |
| Interest-bearing deposits in U.S. offices (including $717 and $303 as of December 31, 2018 and 2017, respectively, at fair value) | 361,573 | 318,613 |
| Non-interest-bearing deposits in offices outside the U.S. | 80,648 | 87,440 |
| Interest-bearing deposits in offices outside the U.S. (including $758 and $1,162 as of December 31, 2018 and 2017, respectively, at fair value) | 465,113 | 426,889 |
| Total deposits | 1,013,170 | 959,822 |
| Federal funds purchased and securities loaned and sold under agreements to repurchase (including $44,510 and $40,638 as of December 31, 2018 and 2017, respectively, at fair value) | 177,768 | 156,277 |
| Brokerage payables | 64,571 | 61,342 |
| Trading account liabilities | 144,305 | 125,170 |
| Short-term borrowings (including $4,483 and $4,627 as of December 31, 2018 and 2017, respectively, at fair value) | 32,346 | 44,452 |
| Long-term debt (including $38,229 and $31,392 as of December 31, 2018 and 2017, respectively, at fair value) | 231,999 | 236,709 |
| Other liabilities (including $15,906 and $13,961 as of December 31, 2018 and 2017, respectively, at fair value) | 56,150 | 57,021 |
| Total liabilities | 1,720,309 | 1,640,793 |
| Stockholders equity | ||
| Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 738,400 as of December 31, 2018 and 770,120 as of December 31, 2017, at aggregate liquidation value | 18,460 | 19,253 |
| Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,099,567,177 as of December 31, 2018 and 3,099,523,273 as of December 31, 2017 | 31 | 31 |
| Additional paid-in capital | 107,922 | 108,008 |
| Retained earnings | 151,347 | 138,425 |
| Treasury stock, at cost: 731,099,833 shares as of December 31, 2018 and 529,614,728 shares as of December 31, 2017 | (44,370) | (30,309) |
| Accumulated other comprehensive income (loss) (AOCI) | (37,170) | (34,668) |
| Total Citigroup stockholders equity | 196,220 | 200,740 |
| Noncontrolling interest | 854 | 932 |
| Total equity | 197,074 | 201,672 |
| Total liabilities and equity | 1,917,383 | 1,842,465 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Cash and due from banks (including segregated cash and other deposits) | 270 | 52 |
| Trading account assets (including $112,932 and $99,460 pledged to creditors at December 31, 2018 and 2017, respectively) | 917 | 1,129 |
| Total investments | 1,796 | 2,498 |
| Loans, net of unearned income | 68,662 | 74,491 |
| Allowance for loan losses | (1,852) | (1,930) |
| Total loans, net | 66,810 | 72,561 |
| Other assets | 151 | 154 |
| Total assets | 69,944 | 76,394 |
| Short-term borrowings (including $4,483 and $4,627 as of December 31, 2018 and 2017, respectively, at fair value) | 13,134 | 10,142 |
| Long-term debt (including $38,229 and $31,392 as of December 31, 2018 and 2017, respectively, at fair value) | 28,514 | 30,492 |
| Other liabilities (including $15,906 and $13,961 as of December 31, 2018 and 2017, respectively, at fair value) | 697 | 611 |
| Total liabilities | 42,345 | 41,245 |
| Financing Receivable Portfolio Segment | ||
| Consumer | ||
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Loans, net of unearned income | 49,403 | 54,656 |
| Loans, net of unearned income | 330,487 | 333,656 |
| Corporate | ||
| Loans, net of unearned income | 19,259 | 19,835 |
| Loans, net of unearned income | 353,709 | 333,378 |
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2018 | |
| 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 |