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: 2022 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues | |||
| Interest revenue | $ 74,408 | 50,475 | 58,089 |
| Interest expense | 25,740 | 7,981 | 13,338 |
| Net interest income | 48,668 | 42,494 | 44,751 |
| Commissions and fees | 9,175 | 13,672 | 11,385 |
| Principal transactions | 14,159 | 10,154 | 13,885 |
| Administration and other fiduciary fees | 3,784 | 3,943 | 3,472 |
| Realized gains on sales of investments, net | 67 | 665 | 1,756 |
| Impairment losses on investments: | |||
| Impairment losses on investments and other assets | (499) | (206) | (165) |
| Provision for credit losses on AFS debt securities | 5 | (3) [1] | (3) |
| Net impairment losses recognized in earnings | (494) | (209) | (168) |
| Other revenue | (21) | 1,165 | 420 |
| Total non-interest revenues | 26,670 | 29,390 | 30,750 |
| Total revenues, net of interest expense | 75,338 | 71,884 | 75,501 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for credit losses on loans | 4,745 | (3,103) | 15,922 |
| Provision for credit losses on held-to-maturity (HTM) debt securities | 33 | (3) | 7 |
| Provision for credit losses on other assets | 76 | 0 | 7 |
| Policyholder benefits and claims | 94 | 116 | 113 |
| Provision for credit losses on unfunded lending commitments | 291 | (788) | 1,446 |
| Total provisions for credit losses and for benefits and claims | 5,239 | (3,778) | 17,495 |
| Operating expenses | |||
| Compensation and benefits | 26,655 | 25,134 | 22,214 |
| Premises and equipment | 2,320 | 2,314 | 2,333 |
| Technology/communication | 8,587 | 7,828 | 7,383 |
| Advertising and marketing | 1,556 | 1,490 | 1,217 |
| Other operating | 12,174 | 11,427 | 11,227 |
| Total operating expenses | 51,292 | 48,193 | 44,374 |
| Income from continuing operations before income taxes | 18,807 | 27,469 | 13,632 |
| Provision for income taxes | 3,642 | 5,451 | 2,525 |
| Income from continuing operations | 15,165 | 22,018 | 11,107 |
| Discontinued operations | |||
| Income (loss) from discontinued operations | (272) | 7 | (20) |
| Benefit for income taxes | (41) | 0 | 0 |
| Income (loss) from discontinued operations, net of taxes | (231) | 7 | (20) |
| Net income before attribution of noncontrolling interests | 14,934 | 22,025 | 11,087 |
| Noncontrolling interests | 89 | 73 | 40 |
| Citigroups net income | 14,845 | 21,952 | 11,047 |
| Basic earnings per share | |||
| Income from continuing operations (in dollars per share) | 7.16 | 10.21 | 4.75 |
| Loss from discontinued operations, net of taxes (in dollars per share) | (0.12) | 0.00 | (0.01) |
| Net income (in dollars per share) | 7.04 | 10.21 | 4.74 [2] |
| Weighted average common shares outstanding (in shares) | 1,946,700 | 2,033,000 | 2,085,800 |
| Diluted earnings per share | |||
| Income from continuing operations (in dollars per share) | 7.11 | 10.14 | 4.73 |
| Loss from discontinued operations, net of taxes (in dollars per share) | (0.12) | 0.00 | (0.01) |
| Net income (in dollars per share) | 7.00 | 10.14 | 4.72 |
| Adjusted weighted average common shares outstanding (in shares) | 1,964,300 | 2,049,400 | 2,099,000 |
| [2] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income. | |||
| [1] n accordance with ASC 326, which requires the provision for credit losses on AFS securities to be included in revenue. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Citigroups net income | $ 14,845 | 21,952 | 11,047 |
| Add: Citigroups other comprehensive income (loss)(1) | |||
| Net change in unrealized gains and losses on investment securities, net of taxes | (5,384) | (3,934) | 3,585 |
| Net change in debt valuation adjustment (DVA), net of taxes | 2,029 | 232 | (475) [1] |
| Net change in cash flow hedges, net of taxes | (2,623) | (1,492) | 1,470 |
| Benefit plans liability adjustment, net of taxes | 97 [2] | 1,012 | (55) |
| Net change in CTA, net of taxes and hedges | (2,471) | (2,525) | (250) |
| Net change in excluded component of fair value hedges, net of taxes | 55 | 0 | (15) |
| Citigroups total other comprehensive income (loss) | (8,297) | (6,707) | 4,260 |
| Citigroups total comprehensive income | 6,548 | 15,245 | 15,307 |
| Add: Other comprehensive income (loss) attributable to noncontrolling interests | (58) | (99) | 26 |
| Add: Net income attributable to noncontrolling interests | 89 | 73 | 40 |
| Total comprehensive income | 6,579 | 15,219 | 15,373 |
| [1] See Note 1. (3) See Note 25. | |||
| [2] See Note 8. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CITIGROUP INC | |||
Ticker: C Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities of continuing operations | |||
| Net income before attribution of noncontrolling interests | $ 14,934 | 22,025 | 11,087 |
| Net income attributable to noncontrolling interests | 89 | 73 | 40 |
| Citigroups net income | 14,845 | 21,952 | 11,047 |
| Income (loss) from discontinued operations, net of taxes | (231) | 7 | (20) |
| Income from continuing operationsexcluding noncontrolling interests | 15,076 | 21,945 | 11,067 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations | |||
| Net loss (gain) on sale of significant disposals | (762) | 700 | 0 |
| Depreciation and amortization | 4,262 | 3,964 | 3,937 |
| Deferred income taxes | (1,141) | 1,413 | (2,333) |
| Provisions for credit losses on loans and unfunded lending commitments | 5,036 | (3,891) | 17,368 |
| Realized gains from sales of investments | (67) | (665) | (1,756) |
| Impairment losses on investments and other assets | 499 | 206 | 165 |
| Goodwill impairment | 535 | 0 | 0 |
| Change in trading account assets | (2,273) | 43,059 | (98,997) |
| Change in trading account liabilities | 9,118 | (6,498) | 48,133 |
| Change in brokerage receivables net of brokerage payables | 7,936 | 1,412 | (3,066) |
| Change in loans held-for-sale (HFS) | 4,421 | (3,809) | 1,202 |
| Change in other assets | (4,992) | (2,139) | (1,012) |
| Change in other liabilities | 5,343 | 6,839 | 558 |
| Other, net | (17,922) | (15,446) | 1,246 |
| Total adjustments | 9,993 | 25,145 | (34,555) |
| Net cash provided by (used in) operating activities of continuing operations( | 25,069 | 47,090 | (23,488) |
| Cash flows from investing activities of continuing operations | |||
| Change in securities borrowed and purchased under agreements to resell | (38,113) | (32,576) | (43,390) |
| Change in loans | (16,591) | (1,173) | 14,249 |
| Proceeds from sales and securitizations of loans | 4,709 | 2,918 | 1,495 |
| Proceeds from divestitures | 5,741 | 0 | 0 |
| Available-for-sale debt securities | |||
| Purchases of investments | (218,747) | (205,980) [1] | (306,801) |
| Proceeds from sales of investments | 79,687 | 125,895 | 144,035 |
| Proceeds from maturities of investments | 140,934 | 120,936 | 110,941 |
| Held-to-maturity debt securities | |||
| Purchases of investments | (42,903) | (136,450) | (25,586) |
| Proceeds from maturities of investments | 12,188 | 21,164 | 15,215 |
| Capital expenditures on premises and equipment and capitalized software | (5,632) | (4,119) | (3,446) |
| Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets | 63 | 190 | 50 |
| Other, net | (791) | (1,551) | 793 |
| Net cash used in investing activities of continuing operations | (79,455) | (110,746) | (92,445) |
| Cash flows from financing activities of continuing operations | |||
| Dividends paid | (5,003) | (5,198) | (5,352) |
| Issuance of preferred stock | 0 | 3,300 | 2,995 |
| Redemption of preferred stock | 0 | (3,785) | (1,500) |
| Treasury stock acquired | (3,250) | (7,601) | (2,925) |
| Stock tendered for payment of withholding taxes | (344) | (337) | (411) |
| Change in securities loaned and sold under agreements to repurchase | 11,159 | (8,240) | 33,186 |
| Issuance of long-term debt | 104,748 | 70,658 | 76,458 |
| Payments and redemptions of long-term debt | (57,085) | (74,950) | (63,402) |
| Change in deposits | 68,415 | 44,966 | 210,081 |
| Change in short-term borrowings | 19,123 | (1,541) | (15,535) |
| Net cash provided by financing activities of continuing operations | 137,763 | 17,272 | 233,595 |
| Effect of exchange rate changes on cash and due from banks | (3,385) | (1,198) | (1,966) |
| Change in cash, due from banks and deposits with banks | 79,992 | (47,582) | 115,696 |
| Cash, due from banks and deposits with banks at beginning of year | 262,033 | 309,615 | |
| Cash, due from banks and deposits with banks at end of year | 342,025 | 262,033 | 309,615 |
| Cash and due from banks (including segregated cash and other deposits) | 30,577 | 27,515 | 26,349 |
| Deposits with banks, net of allowance | 311,448 | 234,518 | 283,266 |
| Cash, due from banks and deposits with banks at end of period | 342,025 | 262,033 | 309,615 |
| Supplemental disclosure of cash flow information for continuing operations | |||
| Cash paid during the year for income taxes | 3,733 | 4,028 | 4,797 |
| Cash paid during the year for interest | 22,615 | 7,143 | 12,094 |
| Non-cash investing and financing activities | |||
| Transfer of investment securities from AFS to HTM | 21,688 | 0 | 0 |
| Decrease in net loans associated with divestitures reclassified to HFS | 16,956 | 9,945 | 0 [2] |
| Decrease in goodwill associated with divestitures reclassified to HFS | 876 | 0 | 0 |
| Transfers to loans HFS (Other assets) from loans | 5,582 | 7,414 | 2,614 |
| Decrease in long-term debt associated with divestitures reclassified to HFS | 0 | 479 | 0 |
| Decrease in deposits associated with divestitures reclassified to HFS | 19,691 | 8,407 | 0 |
| [1] Citi has revised the Consolidated Statement of Cash Flows to present purchases of investments, sales of investments and proceeds from maturities of investments separately between AFS debt securities and HTM debt securities. Citi had no sales of HTM debt securities during the periods presented. | See Statement of Cash Flows in Note 1. | |||
| [2] See Note 2 for further information on significant disposals. | Operating and finance lease right-of-use assets and lease liabilities represent non-cash investing and financing activities, respectively, and are not included in the non-cash investing activities presented here. See Note 28 for more information and balances as of December 31, 2022 and 2021, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CITIGROUP INC | ||
Ticker: C Fiscal Year: 2022 | ||
CONSOLIDATED BALANCE SHEET | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Cash and due from banks (including segregated cash and other deposits) | $ 30,577 | 27,515 |
| Deposits with banks, net of allowance | 311,448 | 234,518 |
| Securities borrowed and purchased under agreements to resell (including $239,527 and $216,466 as of December 31, 2022 and 2021, respectively, at fair value), net of allowance | 365,401 | 327,288 |
| Brokerage receivables, net of allowance | 54,192 | 54,340 |
| Trading account assets (including $133,535 and $133,828 pledged to creditors at December 31, 2022 and 2021, respectively) | 334,114 | 331,945 |
| Investments: | ||
| Available-for-sale debt securities (including $10,933 and $9,226 pledged to creditors as of December 31, 2022 and 2021, respectively), net of allowance | 249,679 | 288,522 |
| Held-to-maturity debt securities (fair value of which is $243,648 and $216,038 as of December 31, 2022 and 2021, respectively) (includes $ and $1,460 pledged to creditors as of December 31, 2022 and 2021, respectively), net of allowance | 268,863 | 216,963 |
| Equity securities (including $895 and $1,032 as of December 31, 2022 and 2021, respectively, at fair value) | 8,040 | 7,337 |
| Total investments | 526,582 | 512,822 |
| Loans: | ||
| Loans, net of unearned income | 657,221 | 667,767 |
| Allowance for credit losses on loans (ACLL) | (16,974) | (16,455) |
| Total loans, net | 640,247 | 651,312 |
| Goodwill | 19,691 | 21,299 |
| Intangible assets (including MSRs of $665 and $404 as of December 31, 2022 and 2021, respectively, at fair value) | 4,428 | 4,495 |
| Premises and equipment, net of depreciation and amortization | 26,253 | 24,328 |
| Other assets (including $10,658 and $12,342 as of December 31, 2022 and 2021, respectively, at fair value), net of allowance | 103,743 | 101,551 |
| Total assets | 2,416,676 | 2,291,413 |
| Liabilities | ||
| Deposits (including $1,875 and $1,666 as of December 31, 2022 and 2021, respectively, at fair value) | 1,365,954 | 1,317,230 |
| Securities loaned and sold under agreements to repurchase (including $70,886 and $56,694 as of December 31, 2022 and 2021, respectively, at fair value) | 202,444 | 191,285 |
| Brokerage payables (including $4,439 and $3,575 as of December 31, 2022 and 2021, respectively, at fair value) | 69,218 | 61,430 |
| Trading account liabilities | 170,647 | 161,529 |
| Short-term borrowings (including $6,222 and $7,358 as of December 31, 2022 and 2021, respectively, at fair value) | 47,096 | 27,973 |
| Long-term debt (including $105,995 and $82,609 as of December 31, 2022 and 2021, respectively, at fair value) | 271,606 | 254,374 |
| Other liabilities | 87,873 | 74,920 |
| Total liabilities | 2,214,838 | 2,088,741 |
| Stockholders equity | ||
| Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 759,800 as of December 31, 2022 and 759,800 as of December 31, 2021, at aggregate liquidation value | 18,995 | 18,995 |
| Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,099,669,424 as of December 31, 2022 and 3,099,651,835 as of December 31, 2021 | 31 | 31 |
| Additional paid-in capital | 108,458 | 108,003 |
| Retained earnings | 194,734 | 184,948 |
| Treasury stock, at cost: 1,162,682,999 shares as of December 31, 2022 and 1,115,296,641 shares as of December 31, 2021 | (73,967) | (71,240) |
| Accumulated other comprehensive income (loss) (AOCI) | (47,062) | (38,765) |
| Total Citigroup stockholders equity | 201,189 | 201,972 |
| Noncontrolling interests | 649 | 700 |
| Total equity | 201,838 | 202,672 |
| Total liabilities and equity | 2,416,676 | 2,291,413 |
| Financing Receivable Portfolio Segment | ||
| Consumer | ||
| Loans, net of unearned income | 368,067 | 376,534 |
| Allowance for credit losses on loans (ACLL) | (14,119) | (14,040) |
| Corporate | ||
| Loans, net of unearned income | 289,154 | 291,233 |
| Allowance for credit losses on loans (ACLL) | (2,855) | (2,415) |
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2022 | |
| 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 |