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: 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. | |||
| 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 |