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: 2021 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 28, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenues | |||
| Interest revenue | $ 50,475 | 58,089 | 76,510 |
| Interest expense | 7,981 | 13,338 | 28,382 |
| Net interest income | 42,494 | 44,751 | 48,128 |
| Commissions and fees | 13,672 | 11,385 | 11,746 |
| Principal transactions | 10,154 | 13,885 | 8,892 |
| Administration and other fiduciary fees | 3,943 | 3,472 | 3,411 |
| Realized gains on sales of investments, net | 665 | 1,756 | 1,474 |
| Impairment losses on investments: | |||
| Impairment losses on investments and other assets | (206) | (165) | (32) |
| Provision for credit losses on AFS debt securities | (3) | (3) | 0 |
| Net impairment losses recognized in earnings | (209) | (168) | (32) |
| Other revenue | 1,165 | 420 | 1,448 |
| Total non-interest revenues | 29,390 | 30,750 | 26,939 |
| Total revenues, net of interest expense | 71,884 | 75,501 | 75,067 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for credit losses on loans | (3,103) | 15,922 | 8,218 |
| Provision for credit losses on held-to-maturity (HTM) debt securities | (3) | 7 | 0 |
| Provision for credit losses on other assets | 0 | 7 | 0 |
| Policyholder benefits and claims | 116 | 113 | 73 |
| Provision for credit losses on unfunded lending commitments | (788) | 1,446 | 92 |
| Total provisions for credit losses and for benefits and claims | (3,778) | 17,495 | 8,383 |
| Operating expenses | |||
| Compensation and benefits | 25,134 | 22,214 | 21,433 |
| Premises and equipment | 2,314 | 2,333 | 2,328 |
| Technology/communication | 7,828 | 7,383 | 7,077 |
| Advertising and marketing | 1,490 | 1,217 | 1,516 |
| Other operating | 11,427 | 11,227 | 10,429 |
| Total operating expenses | 48,193 | 44,374 | 42,783 |
| Income from continuing operations before income taxes | 27,469 | 13,632 | 23,901 |
| Provision for income taxes | 5,451 | 2,525 | 4,430 |
| Income from continuing operations | 22,018 | 11,107 | 19,471 |
| Discontinued operations | |||
| Income (loss) from discontinued operations | 7 | (20) | (31) |
| Benefit for income taxes | 0 | 0 | (27) |
| Income (loss) from discontinued operations, net of taxes | 7 | (20) | (4) |
| Net income before attribution of noncontrolling interests | 22,025 | 11,087 | 19,467 |
| Noncontrolling interests | 73 | 40 | 66 |
| Citigroups net income | 21,952 | 11,047 | 19,401 |
| Basic earnings per share | |||
| Income from continuing operations (in dollars per share) | 10.21 | 4.75 | 8.08 |
| Loss from discontinued operations, net of taxes (in dollars per share) | 0.00 | (0.01) | 0.00 |
| Net income (in dollars per share) | 10.21 | 4.74 | 8.08 [1] |
| Weighted average common shares outstanding (in shares) | 2,033,000 | 2,085,800 | 2,249,200 |
| Diluted earnings per share | |||
| Income from continuing operations (in dollars per share) | 10.14 | 4.73 | 8.04 |
| Loss from discontinued operations, net of taxes (in dollars per share) | 0.00 | (0.01) | 0.00 |
| Net income (in dollars per share) | 10.14 | 4.72 | 8.04 |
| Adjusted weighted average common shares outstanding (in shares) | 2,049,400 | 2,099,000 | 2,265,300 |
| [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: 2021 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 28, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Citigroups net income | $ 21,952 | 11,047 | 19,401 |
| Add: Citigroups other comprehensive income (loss) | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | (3,934) [1] | 3,585 | 1,985 |
| Net change in debt valuation adjustment (DVA), net of taxes | 232 | (475) | (1,136) |
| Net change in cash flow hedges, net of taxes | (1,492) | 1,470 | 851 |
| Benefit plans liability adjustment, net of taxes | 1,012 [2] | (55) | (552) |
| Net change in foreign currency translation adjustment, net of taxes and hedges | (2,525) | (250) | (321) |
| Net change in excluded component of fair value hedges, net of taxes | 0 | (15) | 25 |
| Citigroups total other comprehensive income (loss) | (6,707) | 4,260 | 852 |
| Citigroups total comprehensive income | 15,245 | 15,307 | 20,253 |
| Add: Other comprehensive income (loss) attributable to noncontrolling interests | (99) | 26 | 0 |
| Add: Net income attributable to noncontrolling interests | 73 | 40 | 66 |
| Total comprehensive income | 15,219 | 15,373 | 20,319 |
| [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: 2021 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 28, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash flows from operating activities of continuing operations | |||
| Net income before attribution of noncontrolling interests | $ 22,025 | 11,087 | 19,467 |
| Net income attributable to noncontrolling interests | 73 | 40 | 66 |
| Citigroups net income | 21,952 | 11,047 | 19,401 |
| Income (loss) from discontinued operations, net of taxes | 7 | (20) | (4) |
| Income from continuing operationsexcluding noncontrolling interests | 21,945 | 11,067 | 19,405 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations | |||
| Net loss on significant disposals | 700 | 0 | 0 |
| Depreciation and amortization | 3,964 | 3,937 | 3,905 |
| Deferred income taxes | 1,413 | (2,333) | (610) |
| Provision for credit losses on loans and unfunded lending commitments | (3,891) | 17,368 | 8,310 |
| Realized gains from sales of investments | (665) | (1,756) | (1,474) |
| Impairment losses on investments and other assets | 206 | 165 | 32 |
| Change in trading account assets | 43,059 | (98,997) | (20,124) |
| Change in trading account liabilities | (6,498) | 48,133 | (24,411) |
| Change in brokerage receivables net of brokerage payables | 1,412 | (3,066) | (20,377) |
| Change in loans HFS | (3,809) | 1,202 | (909) |
| Change in other assets | (2,139) | (1,012) | 4,724 |
| Change in other liabilities | 6,839 | 558 | 1,737 |
| Other, net | (1,287) | 4,113 | 16,955 |
| Total adjustments | 39,304 | (31,688) | (32,242) |
| Net cash provided by (used in) operating activities of continuing operations | 61,249 | (20,621) | (12,837) |
| Cash flows from investing activities of continuing operations | |||
| Change in securities borrowed and purchased under agreements to resell | (32,576) | (43,390) | 19,362 |
| Change in loans | (1,173) | 14,249 | (22,466) |
| Proceeds from sales and securitizations of loans | 2,918 | 1,495 | 2,878 |
| Purchases of investments | (359,158) | (334,900) | (274,491) |
| Proceeds from sales of investments | 126,728 | 146,285 | 137,173 |
| Proceeds from maturities of investments | 142,100 | 124,229 | 119,051 |
| Capital expenditures on premises and equipment and capitalized software | (4,119) | (3,446) | (5,336) |
| Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets | 190 | 50 | 259 |
| Other, net | 185 | 116 | 196 |
| Net cash used in investing activities of continuing operations | (124,905) | (95,312) | (23,374) |
| Cash flows from financing activities of continuing operations | |||
| Dividends paid | (5,198) | (5,352) | (5,447) |
| Issuance of preferred stock | 3,300 | 2,995 | 1,496 |
| Redemption of preferred stock | (3,785) | (1,500) | (1,980) |
| Treasury stock acquired | (7,601) | (2,925) | (17,571) |
| Stock tendered for payment of withholding taxes | (337) | (411) | (364) |
| Change in securities loaned and sold under agreements to repurchase | (8,240) | 33,186 | (11,429) |
| Issuance of long-term debt | 70,658 | 76,458 | 59,134 |
| Payments and redemptions of long-term debt | (74,950) | (63,402) | (51,029) |
| Change in deposits | 44,966 | 210,081 | 57,420 |
| Change in short-term borrowings | (1,541) | (15,535) | |
| Change in short-term borrowings | 12,703 | ||
| Net cash provided by financing activities of continuing operations | 17,272 | 233,595 | 42,933 |
| Effect of exchange rate changes on cash and due from banks | (1,198) | (1,966) | (908) |
| Change in cash, due from banks and deposits with banks | (47,582) | 115,696 | 5,814 |
| Cash, due from banks and deposits with banks at beginning of year | 309,615 | 193,919 | 188,105 |
| Cash, due from banks and deposits with banks at end of year | 262,033 | 309,615 | 193,919 |
| Cash and due from banks (including segregated cash and other deposits) | 27,515 | 26,349 | 23,967 |
| Deposits with banks, net of allowance | 234,518 | 283,266 | 169,952 |
| Cash, due from banks and deposits with banks at end of period | 262,033 | 309,615 | 193,919 |
| Supplemental disclosure of cash flow information for continuing operations | |||
| Cash paid during the year for income taxes | 4,028 | 4,797 | 4,888 |
| Cash paid during the year for interest | 7,143 | 12,094 | 27,901 |
| Non-cash investing and financing activities | |||
| Decrease in net loans associated with significant disposals reclassified to HFS | 9,945 | 0 | 0 |
| Transfers to loans HFS (Other assets) from loans | 7,414 | 2,614 | 5,500 |
| Decrease in long-term debt associated with significant disposals reclassified to HFS | 479 | 0 | 0 |
| Decrease in deposits associated with significant disposals reclassified to HFS | 8,407 | 0 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CITIGROUP INC | ||
Ticker: C Fiscal Year: 2021 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 28, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Cash and due from banks (including segregated cash and other deposits) | $ 27,515 | 26,349 |
| Deposits with banks, net of allowance | 234,518 | 283,266 |
| Securities borrowed and purchased under agreements to resell (including $216,466 and $185,204 as of December 31, 2021 and 2020, respectively, at fair value), net of allowance | 327,288 | 294,712 |
| Brokerage receivables, net of allowance | 54,340 | 44,806 |
| Trading account assets (including $133,828 and $168,967 pledged to creditors at December 31, 2021 and 2020, respectively) | 331,945 | 375,079 |
| Investments: | ||
| Available-for-sale debt securities (including $9,226 and $5,921 pledged to creditors as of December 31, 2021 and 2020, respectively), net of allowance | 288,522 | 335,084 |
| Held-to-maturity debt securities (including $1,460 and $547 pledged to creditors as of December 31, 2021 and 2020, respectively), net of allowance | 216,963 | 104,943 |
| Equity securities (including $1,032 and $1,066 as of December 31, 2021 and 2020, respectively, at fair value) | 7,337 | 7,332 |
| Total investments | 512,822 | 447,359 |
| Loans: | ||
| Loans, net of unearned income | 667,767 | 675,883 |
| Allowance for credit losses on loans (ACLL) | (16,455) | (24,956) |
| Total loans, net | 651,312 | 650,927 |
| Goodwill | 21,299 | 22,162 |
| Intangible assets (including MSRs of $404 and $336 as of December 31, 2021 and 2020, respectively, at fair value) | 4,495 | 4,747 |
| Other assets | 125,879 | 110,683 |
| Total assets | 2,291,413 | 2,260,090 |
| Liabilities | ||
| Non-interest-bearing deposits in U.S. offices | 158,552 | 126,942 |
| Interest-bearing deposits in U.S. offices (including $879 and $879 as of December 31, 2021 and 2020, respectively, at fair value) | 543,283 | 503,213 |
| Non-interest-bearing deposits in offices outside the U.S. | 97,270 | 100,543 |
| Interest-bearing deposits in offices outside the U.S. (including $787 and $1,079 as of December 31, 2021 and 2020, respectively, at fair value) | 518,125 | 549,973 |
| Total deposits | 1,317,230 | 1,280,671 |
| Securities loaned and sold under agreements to repurchase (including $56,694 and $60,206 as of December 31, 2021 and 2020, respectively, at fair value) | 191,285 | 199,525 |
| Brokerage payables (including $3,575 and $6,835 as of December 31, 2021 and 2020, respectively, at fair value), including allowance | 61,430 | 50,484 |
| Trading account liabilities | 161,529 | 168,027 |
| Short-term borrowings (including $7,358 and $4,683 as of December 31, 2021 and 2020, respectively, at fair value) | 27,973 | 29,514 |
| Long-term debt (including $82,609 and $67,063 as of December 31, 2021 and 2020, respectively, at fair value) | 254,374 | 271,686 |
| Other liabilities | 74,920 | 59,983 |
| Total liabilities | 2,088,741 | 2,059,890 |
| Stockholders equity | ||
| Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 759,800 as of December 31, 2021 and 779,200 as of December 31, 2020, at aggregate liquidation value | 18,995 | 19,480 |
| Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,099,651,835 as of December 31, 2021 and 3,099,633,160 as of December 31, 2020 | 31 | 31 |
| Additional paid-in capital | 108,003 | 107,846 |
| Retained earnings | 184,948 | 168,272 |
| Treasury stock, at cost: 1,115,296,641 shares as of December 31, 2021 and 1,017,543,951 shares as of December 31, 2020 | (71,240) | (64,129) |
| Accumulated other comprehensive income (loss) (AOCI) | (38,765) | (32,058) |
| Total Citigroup stockholders equity | 201,972 | 199,442 |
| Noncontrolling interests | 700 | 758 |
| Total equity | 202,672 | 200,200 |
| Total liabilities and equity | 2,291,413 | 2,260,090 |
| Financing Receivable Portfolio Segment | ||
| Consumer | ||
| Loans, net of unearned income | 271,236 | 288,839 |
| Allowance for credit losses on loans (ACLL) | (13,616) | (19,554) |
| Corporate | ||
| Loans, net of unearned income | 396,531 | 387,044 |
| Allowance for credit losses on loans (ACLL) | (2,839) | (5,402) |
| Consolidated Entities | ||
| Variable Interest Entity, Primary Beneficiary | ||
| Financing Receivable Portfolio Segment | ||
| Consumer | ||
| Loans, net of unearned income | 34,677 | 37,561 |
| Corporate | ||
| Loans, net of unearned income | 14,312 | 17,027 |
| Cash and due from banks (including segregated cash and other deposits) | 260 | 281 |
| Trading account assets (including $133,828 and $168,967 pledged to creditors at December 31, 2021 and 2020, respectively) | 10,038 | 8,104 |
| Total investments | 844 | 837 |
| Loans, net of unearned income | 48,989 | 54,588 |
| Allowance for credit losses on loans (ACLL) | (2,668) | (3,794) |
| Total loans, net | 46,321 | 50,794 |
| Other assets | 1,174 | 43 |
| Total assets | 58,637 | 60,059 |
| Short-term borrowings (including $7,358 and $4,683 as of December 31, 2021 and 2020, respectively, at fair value) | 8,376 | 9,278 |
| Long-term debt (including $82,609 and $67,063 as of December 31, 2021 and 2020, respectively, at fair value) | 12,579 | 20,405 |
| Other liabilities | 694 | 463 |
| Total liabilities | 21,649 | 30,146 |
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2021 | |
| 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 |