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: 2019 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenues | |||
| Interest revenue | $ 76,510 | 70,828 | 61,579 |
| Interest expense | 29,163 | 24,266 | 16,518 |
| Net interest revenue | 47,347 | 46,562 | 45,061 |
| Commissions and fees | 11,746 | 11,857 | 12,707 |
| Principal transactions | 8,892 | 8,905 | 8,940 |
| Administration and other fiduciary fees | 3,411 | 3,580 | 3,584 |
| Realized gains on sales of investments, net | 1,474 | 421 | 778 |
| Net impairment losses recognized in earnings | (32) | (132) | (63) |
| Other revenue | 1,448 | 1,661 | 1,437 |
| Total non-interest revenues | 26,939 | 26,292 | 27,383 |
| Total revenues, net of interest expense | 74,286 | 72,854 | 72,444 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for loan losses | 8,218 | 7,354 | 7,503 |
| Policyholder benefits and claims | 73 | 101 | 109 |
| Provision (release) for unfunded lending commitments | 92 | 113 | (161) |
| Total provisions for credit losses and for benefits and claims | 8,383 | 7,568 | 7,451 |
| Operating expenses | |||
| Compensation and benefits | 21,433 | 21,154 | 21,181 |
| Premises and equipment | 2,328 | 2,324 | 2,453 |
| Technology/communication | 7,077 | 7,193 | 6,909 |
| Advertising and marketing | 1,516 | 1,545 | 1,608 |
| Other operating | 9,648 | 9,625 | 10,081 |
| Total operating expenses | 42,002 | 41,841 | 42,232 |
| Income (loss) from continuing operations before income taxes | 23,901 | 23,445 | 22,761 |
| Provision for income taxes | 4,430 | 5,357 | 29,388 |
| Income (loss) from continuing operations | 19,471 | 18,088 | (6,627) |
| Discontinued operations | |||
| Loss from discontinued operations | (31) | (26) | (104) |
| Provision (benefit) for income taxes | (27) | (18) | 7 |
| Loss from discontinued operations, net of taxes | (4) | (8) | (111) |
| Net income (loss) before attribution of noncontrolling interests | 19,467 | 18,080 | (6,738) |
| Noncontrolling interests | 66 | 35 | 60 |
| Citigroups net income (loss) | 19,401 | 18,045 | (6,798) |
| Basic earnings per share | |||
| Income (loss) from continuing operations (in dollars per share) | 8.08 | 6.69 | (2.94) [1] |
| Loss from discontinued operations, net of taxes (in dollars per share) | 0.00 | 0.00 | (0.04) |
| Net income (loss) (in dollars per share) | 8.08 | 6.69 | (2.98) |
| Weighted average common shares outstanding (in shares) | 2,249,200 | 2,493,300 | 2,698,500 |
| Diluted earnings per share | |||
| Income (loss) from continuing operations (in dollars per share) | 8.04 | 6.69 | (2.94) |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | 0.00 | 0.00 | (0.04) |
| Net income (loss) (in dollars per share) | 8.04 | 6.68 | (2.98) |
| Adjusted weighted average common shares outstanding (in shares) | 2,265,300 | 2,494,800 | 2,698,500 |
| [1] 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: 2019 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Citigroups net income (loss) | $ 19,401 | 18,045 | (6,798) |
| Add: Citigroups other comprehensive income (loss) | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | 1,985 [1] | (1,089) | (863) |
| Net change in debt valuation adjustment (DVA), net of taxes | (1,136) | 1,113 | (569) [2] |
| Net change in cash flow hedges, net of taxes | 851 | (30) | (138) |
| Benefit plans liability adjustment, net of taxes | (552) | (74) [3] | (1,019) |
| Net change in foreign currency translation adjustment, net of taxes and hedges | (321) | (2,362) | (202) |
| Net change in excluded component of fair value hedges, net of taxes | 25 | (57) | 0 |
| Citigroups total other comprehensive income (loss) | 852 | (2,499) | (2,791) [4] |
| Citigroups total comprehensive income (loss) | 20,253 | 15,546 | (9,589) |
| Add: Other comprehensive income (loss) attributable to noncontrolling interests | 0 | (43) | 114 |
| Add: Net income attributable to noncontrolling interests | 66 | 35 | 60 |
| Total comprehensive income (loss) | 20,319 | 15,538 | (9,415) |
| [1] For the years ended December 31, 2019 and 2018, amounts represent the net change in unrealized gains and losses on available-for-sale (AFS) debt securities. Effective January 1, 2018, the AFS category was 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: 2019 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Cash flows from operating activities of continuing operations | |||
| Net income before attribution of noncontrolling interests | $ 19,467 | 18,080 | (6,738) |
| Net income attributable to noncontrolling interests | 66 | 35 | 60 |
| Citigroups net income (loss) | 19,401 | 18,045 | (6,798) |
| Loss from discontinued operations, net of taxes | (4) | (8) | (111) |
| Income (loss) from continuing operationsexcluding noncontrolling interests | 19,405 | 18,053 | (6,687) |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations | |||
| Net gains on significant disposals | 0 [1] | (247) | (602) |
| Depreciation and amortization | 3,905 | 3,754 | 3,659 |
| Deferred income taxes | (610) | (51) | 24,877 |
| Provision for loan losses | 8,218 | 7,354 | 7,503 |
| Realized gains from sales of investments | (1,474) | (421) | (778) |
| Net impairment losses on investments | 32 | 132 | 91 |
| Change in trading account assets | (20,124) | (3,469) | (7,038) |
| Change in trading account liabilities | (24,411) | 19,135 | (15,375) |
| Change in brokerage receivables net of brokerage payables | (20,377) | 6,163 | (5,307) |
| Change in loans HFS | (909) | 770 | 247 |
| Change in other assets | 4,724 | (5,791) | (3,364) |
| Change in other liabilities | 1,829 | (871) | (3,044) |
| Other, net | 16,955 | (7,559) | (2,956) |
| Total adjustments | (32,242) | 18,899 | (2,087) |
| Net cash provided by (used in) operating activities of continuing operations | (12,837) | 36,952 | (8,774) |
| Cash flows from investing activities of continuing operations | |||
| Change in securities borrowed and purchased under agreements to resell | 19,362 | (38,206) | 4,335 |
| Change in loans | (22,466) | (29,002) | (58,062) |
| Proceeds from sales and securitizations of loans | 2,878 | 4,549 | 8,365 |
| Purchases of investments | (274,491) | (152,487) | (185,740) |
| Proceeds from sales of investments | 137,173 | 61,491 | 107,368 |
| Proceeds from maturities of investments | 119,051 | 83,604 | 84,369 |
| Proceeds from significant disposals | 0 | 314 | 3,411 |
| Capital expenditures on premises and equipment and capitalized software | (5,336) | (3,774) | (3,361) |
| Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets | 259 | 212 | 377 |
| Other, net | 196 | 181 | 187 |
| Net cash used in investing activities of continuing operations | (23,374) | (73,118) | (38,751) |
| Cash flows from financing activities of continuing operations | |||
| Dividends paid | (5,447) | (5,020) | (3,797) |
| Issuance of preferred stock | 1,496 | 0 | 0 |
| Redemption of preferred stock | (1,980) | (793) | 0 |
| Treasury stock acquired | (17,571) | (14,433) | (14,541) |
| Stock tendered for payment of withholding taxes | (364) | (482) | (405) |
| Change in securities loaned and sold under agreements to repurchase | (11,429) | 21,491 | 14,456 |
| Issuance of long-term debt | 59,134 | 60,655 | 67,960 |
| Payments and redemptions of long-term debt | (51,029) | (58,132) | (40,986) |
| Change in deposits | 57,420 | 53,348 | 30,416 |
| Change in short-term borrowings | (12,106) | ||
| Change in short-term borrowings | 12,703 | 13,751 | |
| Net cash provided by financing activities of continuing operations | 42,933 | 44,528 | 66,854 |
| Effect of exchange rate changes on cash and cash equivalents | (908) | (773) | 693 |
| Change in cash and due from banks and deposits with banks | 5,814 | 7,589 | 20,022 |
| Cash, due from banks and deposits with banks at beginning of period | 188,105 | 180,516 | |
| Cash, due from banks and deposits with banks at end of period | 193,919 | 188,105 | 180,516 |
| Cash and due from banks | 23,967 | 23,645 | 23,775 |
| Deposits with banks | 169,952 | 164,460 | 156,741 |
| Cash, due from banks and deposits with banks at end of period | 193,919 | 188,105 | 180,516 |
| Supplemental disclosure of cash flow information for continuing operations | |||
| Cash paid during the year for income taxes | 4,888 | 4,313 | 2,083 |
| Cash paid during the year for interest | 28,682 | 22,963 | 15,675 |
| Non-cash investing activities | |||
| Transfers to loans HFS (Other assets) from loans | 5,500 | 4,200 | 5,900 |
| [1] See Note 2 to the Consolidated Financial Statements for further information on significant disposals. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CITIGROUP INC | ||
Ticker: C Fiscal Year: 2019 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 21, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Cash and due from banks (including segregated cash and other deposits) | $ 23,967 | 23,645 |
| Deposits with banks | 169,952 | 164,460 |
| Securities borrowed and purchased under agreements to resell (including $153,193 and $147,701 as of December 31, 2019 and 2018, respectively, at fair value) | 251,322 | 270,684 |
| Brokerage receivables | 39,857 | 35,450 |
| Trading account assets (including $120,236 and $112,932 pledged to creditors at December 31, 2019 and 2018, respectively) | 276,140 | 256,117 |
| Investments: | ||
| Available-for-sale debt securities (including $8,721 and $9,284 pledged to creditors as of December 31, 2019 and 2018, respectively) | 280,265 | 288,038 |
| Held-to-maturity debt securities (including $1,923 and $971 pledged to creditors as of December 31, 2019 and 2018, respectively) | 80,775 | 63,357 |
| Equity securities (including $1,162 and $1,109 as of December 31, 2019 and 2018, respectively, at fair value) | 7,523 | 7,212 |
| Total investments | 368,563 | 358,607 |
| Loans: | ||
| Loans, net of unearned income | 699,483 | 684,196 |
| Allowance for loan losses | (12,783) | (12,315) |
| Total loans, net | 686,700 | 671,881 |
| Goodwill | 22,126 | 22,046 |
| Intangible assets (including MSRs of $495 and $584 as of December 31, 2019 and 2018, respectively, at fair value) | 4,822 | 5,220 |
| Other assets | 107,709 | 109,273 |
| Total assets | 1,951,158 | 1,917,383 |
| Liabilities | ||
| Non-interest-bearing deposits in U.S. offices | 98,811 | 105,836 |
| Interest-bearing deposits in U.S. offices (including $1,624 and $717 as of December 31, 2019 and 2018, respectively, at fair value) | 401,418 | 361,573 |
| Non-interest-bearing deposits in offices outside the U.S. | 85,692 | 80,648 |
| Interest-bearing deposits in offices outside the U.S. (including $695 and $758 as of December 31, 2019 and 2018, respectively, at fair value) | 484,669 | 465,113 |
| Total deposits | 1,070,590 | 1,013,170 |
| Securities loaned and sold under agreements to repurchase (including $40,651 and $44,510 as of December 31, 2019 and 2018, respectively, at fair value) | 166,339 | 177,768 |
| Brokerage payables | 48,601 | 64,571 |
| Trading account liabilities | 119,894 | 144,305 |
| Short-term borrowings (including $4,946 and $4,483 as of December 31, 2019 and 2018, respectively, at fair value) | 45,049 | 32,346 |
| Long-term debt (including $55,783 and $38,229 as of December 31, 2019 and 2018, respectively, at fair value) | 248,760 | 231,999 |
| Other liabilities (including $6,343 and $15,906 as of December 31, 2019 and 2018, respectively, at fair value) | 57,979 | 56,150 |
| Total liabilities | 1,757,212 | 1,720,309 |
| Stockholders equity | ||
| Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 719,200 as of December 31, 2019 and 738,400 as of December 31, 2018, at aggregate liquidation value | 17,980 | 18,460 |
| Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,099,602,856 as of December 31, 2019 and 3,099,567,177 as of December 31, 2018 | 31 | 31 |
| Additional paid-in capital | 107,840 | 107,922 |
| Retained earnings | 165,369 | 151,347 |
| Treasury stock, at cost: 985,479,501 shares as of December 31, 2019 and 731,099,833 shares as of December 31, 2018 | (61,660) | (44,370) |
| Accumulated other comprehensive income (loss) (AOCI) | (36,318) | (37,170) |
| Total Citigroup stockholders equity | 193,242 | 196,220 |
| Noncontrolling interest | 704 | 854 |
| Total equity | 193,946 | 197,074 |
| Total liabilities and equity | 1,951,158 | 1,917,383 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Cash and due from banks (including segregated cash and other deposits) | 108 | 270 |
| Trading account assets (including $120,236 and $112,932 pledged to creditors at December 31, 2019 and 2018, respectively) | 6,719 | 917 |
| Total investments | 1,295 | 1,796 |
| Loans, net of unearned income | 63,152 | 68,662 |
| Allowance for loan losses | (1,841) | (1,852) |
| Total loans, net | 61,311 | 66,810 |
| Other assets | 73 | 151 |
| Total assets | 69,506 | 69,944 |
| Short-term borrowings (including $4,946 and $4,483 as of December 31, 2019 and 2018, respectively, at fair value) | 10,031 | 13,134 |
| Long-term debt (including $55,783 and $38,229 as of December 31, 2019 and 2018, respectively, at fair value) | 25,582 | 28,514 |
| Other liabilities (including $6,343 and $15,906 as of December 31, 2019 and 2018, respectively, at fair value) | 917 | 697 |
| Total liabilities | 36,530 | 42,345 |
| Financing Receivable Portfolio Segment | ||
| Consumer | ||
| Loans, net of unearned income | 309,548 | 302,360 |
| Variable Interest Entities | ||
| Consolidated VIEs | ||
| Loans, net of unearned income | 46,977 | 49,403 |
| Corporate | ||
| Loans, net of unearned income | 389,935 | 381,836 |
| Loans, net of unearned income | 16,175 | 19,259 |
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2019 | |
| 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 |