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: 2010 | |||
CITIGROUP INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Revenues | |||
| Interest revenue | $ 79,516 | 76,635 | 106,499 |
| Interest expense | 24,864 | 27,721 | 52,750 |
| Net interest revenue | 54,652 | 48,914 | 53,749 |
| Commissions and fees | 13,658 | 15,485 | 12,855 |
| Principal transactions | 7,517 | 6,068 | (23,889) |
| Administration and other fiduciary fees | 4,005 | 5,195 | 8,222 |
| Realized gains (losses) on sales of investments | 2,411 | 1,996 | 679 |
| Other than temporary impairment losses on investments | |||
| Gross impairment losses | (1,495) | (7,262) [1] | (2,740) |
| Less: Impairments recognized in OCI | 84 | 4,356 | |
| Net impairment losses recognized in earnings | (1,411) | (2,906) | (2,740) |
| Insurance premiums | 2,684 | 3,020 | 3,221 |
| Other revenue | 3,085 | 2,513 | (498) |
| Total non-interest revenues | 31,949 | 31,371 | (2,150) |
| Total revenues, net of interest expense | 86,601 | 80,285 | 51,599 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for loan losses | 25,194 | 38,760 | 33,674 |
| Policyholder benefits and claims | 965 | 1,258 | 1,403 |
| Provision for unfunded lending commitments | (117) | 244 | (363) |
| Total provisions for credit losses and for benefits and claims | 26,042 | 40,262 | 34,714 |
| Operating expenses | |||
| Compensation and benefits | 24,430 | 24,987 | 31,096 |
| Premises and equipment | 3,331 | 3,697 | 4,217 |
| Technology/communication | 4,924 | 5,215 | 7,093 |
| Advertising and marketing | 1,645 | 1,415 | 2,188 |
| Restructuring | (113) | 1,550 | |
| Other operating | 13,045 | 12,621 | 23,096 |
| Total operating expenses | 47,375 | 47,822 | 69,240 |
| Income (loss) from continuing operations before income taxes | 13,184 | (7,799) | (52,355) |
| Provision (benefit) for income taxes | 2,233 | (6,733) | (20,326) |
| Income (loss) from continuing operations | 10,951 | (1,066) | (32,029) |
| Discontinued operations | |||
| Income (loss) from discontinued operations | 72 | (653) | 784 |
| Gain (loss) on sale | (702) | 102 | 3,139 |
| Provision (benefit) for income taxes | (562) | (106) | (79) |
| Income (loss) from discontinued operations, net of taxes | (68) | (445) | 4,002 |
| Net income (loss) before attribution of noncontrolling interests | 10,883 | (1,511) | (28,027) |
| Net income (loss) attributable to noncontrolling interests | 281 | 95 | (343) |
| Citigroup's net income (loss) | 10,602 | (1,606) | (27,684) |
| Basic earnings per share | |||
| Income (loss) from continuing operations (in dollars per share) | 0.37 | (0.76) [2] | (6.39) |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | (0.01) | (0.04) | 0.76 |
| Net income (loss) (in dollars per share) | 0.36 | (0.80) | (5.63) |
| Weighted average common shares outstanding (in shares) | 28,776,000 | 11,568,300 | 5,265,400 |
| Diluted earnings per share | |||
| Income (loss) from continuing operations (in dollars per share) | 0.35 | (0.76) | (6.39) |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | (0.04) | 0.76 | |
| Net income (loss) (in dollars per share) | 0.35 | (0.80) | (5.63) |
| Adjusted weighted average common shares outstanding (in shares) | 29,678,100 | 12,099,300 | 5,768,900 |
| [1] As of January 1, 2009, the Company adopted ASC 320-10-65, Investments-Debt and Equity Securities. The Company disclosed comparable information with the prior year in its 2009 periodic reports. | |||
| [2] The Diluted EPS calculation for 2009 and 2008 utilizes Basic shares and Income available to common shareholders (Basic) due to the negative Income available to common shareholders. Using actual Diluted shares and Income available to common shareholders (Diluted) would result in anti-dilution. | |||
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2010 | |
| 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 |