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: 2012 | |||
CONSOLIDATED STATEMENT OF INCOME | |||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenues | |||
| Interest revenue | $ 68,138 | 72,681 | 79,282 |
| Interest expense | 20,535 | 24,234 | 25,096 |
| Net interest revenue | 47,603 | 48,447 | 54,186 |
| Commissions and fees | 12,926 | 12,850 | 13,658 |
| Principal transactions | 4,781 | 7,234 | 7,517 |
| Administration and other fiduciary fees | 4,012 | 3,995 | 4,005 |
| Realized gains (losses) on sales of investments, net | 3,251 | 1,997 | 2,411 |
| Other-than-temporary impairment losses on investments | |||
| Gross impairment losses | (5,037) | (2,413) [1] | (1,495) |
| Less: Impairments recognized in AOCI | 66 | 159 | 84 |
| Net impairment losses recognized in earnings | (4,971) | (2,254) | (1,411) |
| Insurance premiums | 2,476 | 2,647 | 2,684 |
| Other revenue | 95 | 3,437 [2] | 3,551 |
| Total non-interest revenues | 22,570 | 29,906 | 32,415 |
| Total revenues, net of interest expense | 70,173 | 78,353 | 86,601 |
| Provisions for credit losses and for benefits and claims | |||
| Provision for loan losses | 10,848 | 11,773 | 25,194 |
| Policyholder benefits and claims | 887 | 972 | 965 |
| Provision (release) for unfunded lending commitments | (16) | 51 | (117) |
| Total provisions for credit losses and for benefits and claims | 11,719 | 12,796 | 26,042 |
| Operating expenses | |||
| Compensation and benefits | 25,204 | 25,688 | 24,430 |
| Premises and equipment | 3,282 | 3,326 | 3,331 |
| Technology/communication | 5,914 | 5,133 | 4,924 |
| Advertising and marketing | 2,224 | 2,346 | 1,645 |
| Other operating | 13,894 | 14,440 | 13,045 |
| Total operating expenses | 50,518 | 50,933 [3] | 47,375 |
| Income (loss) from continuing operations before income taxes | 7,936 | 14,624 | 13,184 |
| Provision for income taxes (benefit) | 27 | 3,521 | 2,233 |
| Income from continuing operations | 7,909 | 11,103 | 10,951 |
| Discontinued operations | |||
| Income (loss) from discontinued operations | (219) | 23 | 72 |
| Gain (loss) on sale | (1) | 155 | (702) |
| Provision (benefit) for income taxes | (71) | 66 | (562) |
| Income (loss) from discontinued operations, net of taxes | (149) | 112 | (68) |
| Net income before attribution of noncontrolling interests | 7,760 | 11,215 | 10,883 |
| Noncontrolling interests | 219 | 148 | 281 |
| Citigroup's net income | 7,541 | 11,067 | 10,602 |
| Basic earnings per share | |||
| Income from continuing operations (in dollars per share) | 2.56 | 3.69 [4] | 3.66 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | (0.05) | 0.04 | (0.01) |
| Net income (in dollars per share) | 2.51 | 3.73 | 3.65 |
| Weighted average common shares outstanding (in shares) | 2,930,600 | 2,909,800 | 2,877,600 |
| Diluted earnings per share | |||
| Income from continuing operations (in dollars per share) | 2.49 | 3.59 | 3.55 |
| Income (loss) from discontinued operations, net of taxes (in dollars per share) | (0.05) | 0.04 | (0.01) |
| Net income (in dollars per share) | 2.44 | 3.63 | 3.54 |
| Adjusted weighted average common shares outstanding (in shares) | 3,015,500 | 2,998,800 | 2,967,800 |
| [1] 2012 includes the recognition of a $3,340 million impairment charge related to the carrying value of Citi's remaining 35% interest in the Morgan Stanley Smith Barney joint venture (MSSB), as well as the recognition of a $1,181 million impairment charge related to Citi's investment in Akbank. See Note 15 to the Consolidated Financial Statements. | |||
| [2] Other revenue for 2012 includes a $1,344 million loss related to the sale of a 14% interest in MSSB, as well as the recognition of a $424 million loss related to the sale of a 10.1% stake in Akbank. | |||
| [3] Citigroup recorded repositioning charges of $1,375 million for 2012, $706 million for 2011 and $507 million for 2010. | |||
| [4] All per share amounts and Citigroup shares outstanding for all periods reflect Citigroup's 1-for-10 reverse stock split, which was effective May 6, 2011. | |||
| External Links | |
| CITIGROUP INC (C) Fiscal Year 2012 | |
| 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 |