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: 2020 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 26, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Revenues | |||
| Interest revenue | $ 58,089 | 76,510 | 70,828 |
| Interest expense | 14,541 | 29,163 | 24,266 |
| Net interest revenue | 43,548 | 47,347 | 46,562 |
| Commissions and fees | 11,385 | 11,746 | 11,857 |
| Principal transactions | 13,885 | 8,892 | 8,905 |
| Administration and other fiduciary fees | 3,472 | 3,411 | 3,580 |
| Realized gains on sales of investments, net | 1,756 | 1,474 | 421 |
| Impairment losses on investments: | |||
| Impairment losses on investments and other assets | (165) | (32) | (132) |
| Provision for credit losses on AFS debt securities | (3) | 0 | 0 [1] |
| Net impairment losses recognized in earnings | (168) | (32) | (132) |
| Other revenue | 420 | 1,448 | 1,661 |
| Total non-interest revenues | 30,750 | 26,939 | 26,292 |
| Total revenues, net of interest expense | 74,298 | 74,286 | 72,854 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for credit losses on loans | 15,922 | 8,218 | 7,354 |
| Provision for credit losses on held-to-maturity (HTM) debt securities | 7 | 0 | 0 |
| Provision for credit losses on other assets | 7 | 0 | 0 |
| Policyholder benefits and claims | 113 | 73 | 101 |
| Provision for credit losses on unfunded lending commitments | 1,446 | 92 | 113 |
| Total provisions for credit losses and for benefits and claims | 17,495 | 8,383 | 7,568 |
| Operating expenses | |||
| Compensation and benefits | 22,214 | 21,433 | 21,154 |
| Premises and equipment | 2,333 | 2,328 | 2,324 |
| Technology/communication | 7,383 | 7,077 | 7,193 |
| Advertising and marketing | 1,217 | 1,516 | 1,545 |
| Other operating | 10,024 | 9,648 | 9,625 |
| Total operating expenses | 43,171 | 42,002 | 41,841 |
| Income from continuing operations before income taxes | 13,632 | 23,901 | 23,445 |
| Provision for income taxes | 2,525 | 4,430 | 5,357 |
| Income from continuing operations | 11,107 | 19,471 | 18,088 |
| Discontinued operations | |||
| Loss from discontinued operations | (20) | (31) | (26) |
| Provision (benefit) for income taxes | 0 | (27) | (18) |
| Loss from discontinued operations, net of taxes | (20) | (4) | (8) |
| Net income before attribution of noncontrolling interests | 11,087 | 19,467 | 18,080 |
| Noncontrolling interests | 40 | 66 | 35 |
| Citigroups net income | 11,047 | 19,401 | 18,045 |
| Basic earnings per share | |||
| Income from continuing operations (in dollars per share) | 4.75 [2] | 8.08 | 6.69 |
| Loss from discontinued operations, net of taxes (in dollars per share) | (0.01) | 0.00 | 0.00 |
| Net income (in dollars per share) | 4.74 | 8.08 | 6.69 |
| Weighted average common shares outstanding (in shares) | 2,085,800 | 2,249,200 | 2,493,300 |
| Diluted earnings per share | |||
| Income from continuing operations (in dollars per share) | 4.73 | 8.04 | 6.69 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | (0.01) | 0.00 | 0.00 |
| Net income (in dollars per share) | 4.72 | 8.04 | 6.68 |
| Adjusted weighted average common shares outstanding (in shares) | 2,099,000 | 2,265,300 | 2,494,800 |
| [1] In accordance with ASC 326. | |||
| [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: 2020 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 26, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Citigroups net income | $ 11,047 | 19,401 | 18,045 |
| Add: Citigroups other comprehensive income (loss) | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | 3,585 | 1,985 | (1,089) |
| Net change in debt valuation adjustment (DVA), net of taxes | (475) | (1,136) | 1,113 [1] |
| Net change in cash flow hedges, net of taxes | 1,470 | 851 | (30) |
| Benefit plans liability adjustment, net of taxes | (55) | (552) | (74) [2] |
| Net change in foreign currency translation adjustment, net of taxes and hedges | (250) | (321) | (2,362) |
| Net change in excluded component of fair value hedges, net of taxes | (15) | 25 | (57) |
| Citigroups total other comprehensive income (loss) | 4,260 | 852 | (2,499) |
| Citigroups total comprehensive income | 15,307 | 20,253 | 15,546 |
| Add: Other comprehensive income (loss) attributable to noncontrolling interests | 26 | 0 | (43) |
| Add: Net income attributable to noncontrolling interests | 40 | 66 | 35 |
| Total comprehensive income | 15,373 | 20,319 | 15,538 |
| [1] See Note 1 to the Consolidated Financial Statements. | |||
| [2] See Note 8 to the Consolidated Financial Statements. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2020 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 26, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash flows from operating activities of continuing operations | |||
| Net income before attribution of noncontrolling interests | $ 11,087 | 19,467 | 18,080 |
| Net income attributable to noncontrolling interests | 40 | 66 | 35 |
| Citigroups net income | 11,047 | 19,401 | 18,045 |
| Loss from discontinued operations, net of taxes | (20) | (4) | (8) |
| Income from continuing operationsexcluding noncontrolling interests | 11,067 | 19,405 | 18,053 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations | |||
| Net gains on significant disposals | 0 | 0 [1] | (247) |
| Depreciation and amortization | 3,937 | 3,905 | 3,754 |
| Deferred income taxes | (2,333) | (610) | (51) |
| Provision for credit losses on loans and unfunded lending commitments | 17,368 | 8,310 | 7,467 |
| Realized gains from sales of investments | (1,756) | (1,474) | (421) |
| Impairment losses on investments and other assets | 165 | 32 | 132 |
| Change in trading account assets | (98,997) | (20,124) | (3,469) |
| Change in trading account liabilities | 48,133 | (24,411) | 19,135 |
| Change in brokerage receivables net of brokerage payables | (3,066) | (20,377) | 6,163 |
| Change in loans HFS | 1,202 | (909) | 770 |
| Change in other assets | (1,012) | 4,724 | (5,791) |
| Change in other liabilities | 558 | 1,737 | (984) |
| Other, net | 4,113 | 16,955 | (7,559) |
| Total adjustments | (31,688) | (32,242) | 18,899 |
| Net cash provided by (used in) operating activities of continuing operations | (20,621) | (12,837) | 36,952 |
| Cash flows from investing activities of continuing operations | |||
| Change in securities borrowed and purchased under agreements to resell | (43,390) | 19,362 | (38,206) |
| Change in loans | 14,249 | (22,466) | (29,002) |
| Proceeds from sales and securitizations of loans | 1,495 | 2,878 | 4,549 |
| Purchases of investments | (334,900) | (274,491) | (152,487) |
| Proceeds from sales of investments | 146,285 | 137,173 | 61,491 |
| Proceeds from maturities of investments | 124,229 | 119,051 | 83,604 |
| Proceeds from significant disposals | 0 | 0 | 314 |
| Capital expenditures on premises and equipment and capitalized software | (3,446) | (5,336) | (3,774) |
| Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets | 50 | 259 | 212 |
| Other, net | 116 | 196 | 181 |
| Net cash used in investing activities of continuing operations | (95,312) | (23,374) | (73,118) |
| Cash flows from financing activities of continuing operations | |||
| Dividends paid | (5,352) | (5,447) | (5,020) |
| Issuance of preferred stock | 2,995 | 1,496 | 0 |
| Redemption of preferred stock | (1,500) | (1,980) | (793) |
| Treasury stock acquired | (2,925) | (17,571) | (14,433) |
| Stock tendered for payment of withholding taxes | (411) | (364) | (482) |
| Change in securities loaned and sold under agreements to repurchase | 33,186 | (11,429) | 21,491 |
| Issuance of long-term debt | 76,458 | 59,134 | 60,655 |
| Payments and redemptions of long-term debt | (63,402) | (51,029) | (58,132) |
| Change in deposits | 210,081 | 57,420 | 53,348 |
| Change in short-term borrowings | (15,535) | (12,106) | |
| Change in short-term borrowings | 12,703 | ||
| Net cash provided by financing activities of continuing operations | 233,595 | 42,933 | 44,528 |
| Effect of exchange rate changes on cash and due from banks | (1,966) | (908) | (773) |
| Change in cash, due from banks and deposits with banks | 115,696 | 5,814 | 7,589 |
| Cash, due from banks and deposits with banks at beginning of year | 193,919 | 188,105 | |
| Cash, due from banks and deposits with banks at end of year | 309,615 | 193,919 | 188,105 |
| Cash and due from banks (including segregated cash and other deposits) | 26,349 | 23,967 | 23,645 |
| Deposits with banks, net of allowance | 283,266 | 169,952 | 164,460 |
| Cash, due from banks and deposits with banks at end of period | 309,615 | 193,919 | 188,105 |
| Supplemental disclosure of cash flow information for continuing operations | |||
| Cash paid during the year for income taxes | 4,797 | 4,888 | 4,313 |
| Cash paid during the year for interest | 13,298 | 28,682 | 22,963 |
| Non-cash investing activities | |||
| Transfers to loans HFS (Other assets) from loans | 2,614 | 5,500 | 4,200 |
| [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: 2020 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 26, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Cash and due from banks (including segregated cash and other deposits) | $ 26,349 | 23,967 |
| Deposits with banks, net of allowance | 283,266 | 169,952 |
| Securities borrowed and purchased under agreements to resell (including $185,204 and $153,193 as of December 31, 2020 and 2019, respectively, at fair value), net of allowance | 294,712 | 251,322 |
| Brokerage receivables, net of allowance | 44,806 | 39,857 |
| Trading account assets (including $168,967 and $120,236 pledged to creditors at December 31, 2020 and 2019, respectively) | 375,079 | 276,140 |
| Investments: | ||
| Available-for-sale debt securities (including $5,921 and $8,721 pledged to creditors as of December 31, 2020 and 2019, respectively), net of allowance | 335,084 | 280,265 |
| Held-to-maturity debt securities (including $547 and $1,923 pledged to creditors as of December 31, 2020 and 2019, respectively), net of allowance | 104,943 | 80,775 |
| Equity securities (including $1,066 and $1,162 as of December 31, 2020 and 2019, respectively, at fair value) | 7,332 | 7,523 |
| Total investments | 447,359 | 368,563 |
| Loans: | ||
| Loans, net of unearned income | 675,883 | 699,483 |
| Allowance for credit losses on loans (ACLL) | (24,956) | (12,783) |
| Total loans, net | 650,927 | 686,700 |
| Goodwill | 22,162 | 22,126 |
| Intangible assets (including MSRs of $336 and $495 as of December 31, 2020 and 2019, respectively, at fair value) | 4,747 | 4,822 |
| Other assets | 110,683 | 107,709 |
| Total assets | 2,260,090 | 1,951,158 |
| Liabilities | ||
| Non-interest-bearing deposits in U.S. offices | 126,942 | 98,811 |
| Interest-bearing deposits in U.S. offices (including $879 and $1,624 as of December 31, 2020 and 2019, respectively, at fair value) | 503,213 | 401,418 |
| Non-interest-bearing deposits in offices outside the U.S. | 100,543 | 85,692 |
| Interest-bearing deposits in offices outside the U.S. (including $1,079 and $695 as of December 31, 2020 and 2019, respectively, at fair value) | 549,973 | 484,669 |
| Total deposits | 1,280,671 | 1,070,590 |
| Securities loaned and sold under agreements to repurchase (including $60,206 and $40,651 as of December 31, 2020 and 2019, respectively, at fair value) | 199,525 | 166,339 |
| Brokerage payables | 50,484 | 48,601 |
| Trading account liabilities | 168,027 | 119,894 |
| Short-term borrowings (including $4,683 and $4,946 as of December 31, 2020 and 2019, respectively, at fair value) | 29,514 | 45,049 |
| Long-term debt (including $67,063 and $55,783 as of December 31, 2020 and 2019, respectively, at fair value) | 271,686 | 248,760 |
| Other liabilities (including $6,835 and $6,343 as of December 31, 2020 and 2019, respectively, at fair value), including allowance | 59,983 | 57,979 |
| Total liabilities | 2,059,890 | 1,757,212 |
| Stockholders equity | ||
| Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 779,200 as of December 31, 2020 and 719,200 as of December 31, 2019, at aggregate liquidation value | 19,480 | 17,980 |
| Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,099,763,661 as of December 31, 2020 and 3,099,602,856 as of December 31, 2019 | 31 | 31 |
| Additional paid-in capital | 107,846 | 107,840 |
| Retained earnings | 168,272 | 165,369 |
| Treasury stock, at cost: 1,017,674,452 shares as of December 31, 2020 and 985,479,501 shares as of December 31, 2019 | (64,129) | (61,660) |
| Accumulated other comprehensive income (loss) (AOCI) | (32,058) | (36,318) |
| Total Citigroup stockholders equity | 199,442 | 193,242 |
| Noncontrolling interests | 758 | 704 |
| Total equity | 200,200 | 193,946 |
| Total liabilities and equity | 2,260,090 | 1,951,158 |
| Financing Receivable Portfolio Segment | ||
| Consumer | ||
| Loans, net of unearned income | 288,839 | 309,548 |
| Allowance for credit losses on loans (ACLL) | (19,554) | (9,897) |
| Corporate | ||
| Loans, net of unearned income | 387,044 | 389,935 |
| Allowance for credit losses on loans (ACLL) | (5,402) | (2,886) |
| Consolidated Entities | ||
| Variable Interest Entity, Primary Beneficiary | ||
| Financing Receivable Portfolio Segment | ||
| Corporate | ||
| Loans, net of unearned income | 17,027 | 16,175 |
| Consumer | ||
| Loans, net of unearned income | 37,561 | 46,977 |
| Cash and due from banks (including segregated cash and other deposits) | 281 | 108 |
| Trading account assets (including $168,967 and $120,236 pledged to creditors at December 31, 2020 and 2019, respectively) | 8,104 | 6,719 |
| Total investments | 837 | 1,295 |
| Loans, net of unearned income | 54,588 | 63,152 |
| Allowance for credit losses on loans (ACLL) | (3,794) | (1,841) |
| Total loans, net | 50,794 | 61,311 |
| Other assets | 43 | 73 |
| Total assets | 60,059 | 69,506 |
| Short-term borrowings (including $4,683 and $4,946 as of December 31, 2020 and 2019, respectively, at fair value) | 9,278 | 10,031 |
| Long-term debt (including $67,063 and $55,783 as of December 31, 2020 and 2019, respectively, at fair value) | 20,405 | 25,582 |
| Other liabilities (including $6,835 and $6,343 as of December 31, 2020 and 2019, respectively, at fair value), including allowance | 463 | 917 |
| Total liabilities | 30,146 | 36,530 |
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2020 | |
| 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 |