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: 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 |
| [1] n accordance with ASC 326, which requires the provision for credit losses on AFS securities to be included in revenue. | |||
| [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 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 |