EXHIBIT 99.01
SUMMARY OF SELECTED FINANCIAL DATA—PAGE 1
Citigroup Inc. and Consolidated Subsidiaries
|
| | | | | | | | | | | | | | | |
In millions of dollars, except per-share amounts and ratios | 2014 | 2013 | 2012 | 2011 | 2010 |
Net interest revenue | $ | 47,993 |
| $ | 46,793 |
| $ | 46,686 |
| $ | 47,649 |
| $ | 53,539 |
|
Non-interest revenue | 29,226 |
| 29,931 |
| 22,844 |
| 29,986 |
| 32,607 |
|
Revenues, net of interest expense | $ | 77,219 |
| $ | 76,724 |
| $ | 69,530 |
| $ | 77,635 |
| $ | 86,146 |
|
Operating expenses | 55,051 |
| 48,408 |
| 50,036 |
| 50,180 |
| 46,824 |
|
Provisions for credit losses and for benefits and claims | 7,467 |
| 8,514 |
| 11,329 |
| 12,359 |
| 25,809 |
|
Income from continuing operations before income taxes | $ | 14,701 |
| $ | 19,802 |
| $ | 8,165 |
| $ | 15,096 |
| $ | 13,513 |
|
Income taxes | 7,197 |
| 6,186 |
| 397 |
| 4,020 |
| 2,647 |
|
Income from continuing operations | $ | 7,504 |
| $ | 13,616 |
| $ | 7,768 |
| $ | 11,076 |
| $ | 10,866 |
|
Income (loss) from discontinued operations, net of taxes (1) | (2 | ) | 270 |
| (58 | ) | 68 |
| (16 | ) |
Net income before attribution of noncontrolling interests | $ | 7,502 |
| $ | 13,886 |
| $ | 7,710 |
| $ | 11,144 |
| $ | 10,850 |
|
Net income attributable to noncontrolling interests | 192 |
| 227 |
| 219 |
| 148 |
| 281 |
|
Citigroup’s net income | $ | 7,310 |
| $ | 13,659 |
| $ | 7,491 |
| $ | 10,996 |
| $ | 10,569 |
|
Less: | | | | | |
Preferred dividends | $ | 511 |
| $ | 194 |
| $ | 26 |
| $ | 26 |
| $ | 9 |
|
Dividends and undistributed earnings allocated to employee restricted and deferred shares that contain nonforfeitable rights to dividends, applicable to basic EPS | 111 |
| 263 |
| 164 |
| 184 |
| 90 |
|
Income allocated to unrestricted common shareholders for basic EPS | $ | 6,688 |
| $ | 13,202 |
| $ | 7,301 |
| $ | 10,786 |
| $ | 10,470 |
|
Add: Interest expense, net of tax, dividends on convertible securities and adjustment of undistributed earnings allocated to employee restricted and deferred shares with nonforfeitable rights to dividends, applicable to diluted EPS | 1 |
| 1 |
| 10 |
| 16 |
| 3 |
|
Income allocated to unrestricted common shareholders for diluted EPS | $ | 6,689 |
| $ | 13,203 |
| $ | 7,311 |
| $ | 10,802 |
| $ | 10,473 |
|
Earnings per share | | |
| | | |
Basic | | |
| | | |
Income from continuing operations | $ | 2.21 |
| $ | 4.26 |
| $ | 2.51 |
| $ | 3.68 |
| $ | 3.64 |
|
Net income | 2.21 |
| 4.35 |
| 2.49 |
| 3.71 |
| 3.64 |
|
Diluted | | | | | |
Income from continuing operations | $ | 2.20 |
| $ | 4.25 |
| $ | 2.44 |
| $ | 3.58 |
| $ | 3.53 |
|
Net income | 2.20 |
| 4.34 |
| 2.42 |
| 3.60 |
| 3.53 |
|
Dividends declared per common share | 0.04 |
| 0.04 |
| 0.04 |
| 0.03 |
| — |
|
Statement continues on the next page, including notes to the table.
SUMMARY OF SELECTED FINANCIAL DATA—PAGE 2
|
| | | | | | | | | | | | | | | |
| Citigroup Inc. and Consolidated Subsidiaries | |
In millions of dollars, except per-share amounts, ratios and direct staff | 2014 | 2013 | 2012 | 2011 | 2010 |
At December 31: | | | | | |
Total assets | 1,842,181 |
| $ | 1,880,035 |
| $ | 1,864,328 |
| $ | 1,873,597 |
| $ | 1,913,692 |
|
Total deposits (2) | 899,332 |
| 968,273 |
| 930,560 |
| 865,936 |
| 844,968 |
|
Long-term debt | 223,080 |
| 221,116 |
| 239,463 |
| 323,505 |
| 381,183 |
|
Citigroup common stockholders’ equity | 199,717 |
| 197,254 |
| 186,155 |
| 177,213 |
| 162,946 |
|
Total Citigroup stockholders’ equity | 210,185 |
| 203,992 |
| 188,717 |
| 177,525 |
| 163,258 |
|
Direct staff (in thousands) | 241 |
| 251 |
| 259 |
| 266 |
| 260 |
|
Performance metrics | | | | | |
Return on average assets | 0.39 | % | 0.73 | % | 0.39 | % | 0.56 | % | 0.53 | % |
Return on average common stockholders’ equity (3) | 3.4 |
| 7.0 |
| 4.1 |
| 6.3 |
| 6.8 |
|
Return on average total stockholders’ equity (3) | 3.5 |
| 6.9 |
| 4.1 |
| 6.3 |
| 6.8 |
|
Efficiency ratio (Operating expenses/Total revenues) | 71 |
| 63 |
| 72 |
| 65 |
| 54 |
|
Basel III ratios - full implementation | | | | | |
Common Equity Tier 1 Capital (4) | 10.57 | % | 10.57 | % | 8.72 | % | N/A |
| N/A |
|
Tier 1 Capital (4) | 11.45 |
| 11.23 |
| 9.03 |
| N/A |
| N/A |
|
Total Capital (4) | 12.80 |
| 12.64 |
| 10.81 |
| N/A |
| N/A |
|
Estimated supplementary leverage ratio (5) | 5.94 |
| 5.42 |
| N/A |
| N/A |
| N/A |
|
Citigroup common stockholders’ equity to assets | 10.84 | % | 10.49 | % | 9.99 | % | 9.46 | % | 8.51 | % |
Total Citigroup stockholders’ equity to assets | 11.41 | % | 10.85 | % | 10.12 | % | 9.48 | % | 8.53 | % |
Dividend payout ratio (6) | 1.8 |
| 0.9 |
| 1.6 |
| 0.8 |
| NM |
|
Book value per common share | $ | 66.05 |
| $ | 65.12 |
| $ | 61.46 |
| $ | 60.61 |
| $ | 56.15 |
|
Ratio of earnings to fixed charges and preferred stock dividends | 2.00x |
| 2.18x |
| 1.39x |
| 1.61x |
| 1.53x |
|
| |
(1) | Discontinued operations include Credicard, Citi Capital Advisors and Egg Banking credit card business. See Note 2 to the Consolidated Financial Statements for additional information on Citi’s discontinued operations. |
| |
(2) | Reflects reclassification of approximately $21 billion of deposits to held-for-sale (Other liabilities) at December 31, 2014 as a result of the agreement to sell Citi’s retail banking business in Japan. See Note 2 to the Consolidated Financial Statements. |
| |
(3) | The return on average common stockholders’ equity is calculated using net income less preferred stock dividends divided by average common stockholders’ equity. The return on average total Citigroup stockholders’ equity is calculated using net income divided by average Citigroup stockholders’ equity. |
| |
(4) | Capital ratios based on the final U.S. Basel III rules, with full implementation assumed for capital components; risk-weighted assets based on the Advanced Approaches for determining total risk-weighted assets. |
| |
(5) | Citi’s estimated Supplementary Leverage ratio is based on the revised final U.S. Basel III rules issued in September 2014 and represents the ratio of Tier 1 Capital to Total Leverage Exposure (TLE). TLE is the sum of the daily average of on balance sheet assets for the quarter and the average of certain off balance sheet exposures calculated as of the last day of each month in the quarter, less applicable Tier 1 Capital deductions. |
(6) Dividends declared per common share as a percentage of net income per diluted share.
N/A Not applicable to 2012, 2011 and 2010.
NM Not meaningful
SEGMENT AND BUSINESS—INCOME (LOSS) AND REVENUES
The following tables show the income (loss) and revenues for Citigroup on a segment and business view:
CITIGROUP INCOME
|
| | | | | | | | | | | | | |
In millions of dollars | 2014 | 2013 | 2012 | % Change 2014 vs. 2013 | % Change 2013 vs. 2012 |
Income (loss) from continuing operations | | | | | |
CITICORP | | | | | |
Global Consumer Banking | | | | | |
North America | $ | 4,412 |
| $ | 3,918 |
| $ | 4,570 |
| 13 | % | (14 | )% |
Latin America | 1,158 |
| 1,251 |
| 1,295 |
| (7 | ) | (3 | ) |
Asia (1) | 1,249 |
| 1,407 |
| 1,582 |
| (11 | ) | (11 | ) |
Total | $ | 6,819 |
| $ | 6,576 |
| $ | 7,447 |
| 4 | % | (12 | )% |
Institutional Clients Group | | | | | |
North America | $ | 3,976 |
| $ | 3,204 |
| $ | 1,647 |
| 24 | % | 95 | % |
EMEA | 2,062 |
| 2,483 |
| 2,524 |
| (17 | ) | (2 | ) |
Latin America | 1,334 |
| 1,623 |
| 1,875 |
| (18 | ) | (13 | ) |
Asia | 2,162 |
| 2,115 |
| 1,787 |
| 2 |
| 18 |
|
Total | $ | 9,534 |
| $ | 9,425 |
| $ | 7,833 |
| 1 | % | 20 | % |
Corporate/Other | $ | (5,375 | ) | $ | (514 | ) | $ | (922 | ) | NM |
| 44 | % |
Total Citicorp | $ | 10,978 |
| $ | 15,487 |
| $ | 14,358 |
| (29 | )% | 8 | % |
Citi Holdings | $ | (3,474 | ) | $ | (1,871 | ) | $ | (6,590 | ) | (86 | )% | 72 | % |
Income from continuing operations | $ | 7,504 |
| $ | 13,616 |
| $ | 7,768 |
| (45 | )% | 75 | % |
Discontinued operations | $ | (2 | ) | $ | 270 |
| $ | (58 | ) | NM |
| NM |
|
Net income attributable to noncontrolling interests | 192 |
| 227 |
| 219 |
| (15 | )% | 4 | % |
Citigroup’s net income | $ | 7,310 |
| $ | 13,659 |
| $ | 7,491 |
| (46 | )% | 82 | % |
(1) For reporting purposes, Asia Global Consumer Banking (GCB) includes the results of operations of EMEA GCB for all periods presented.
NM Not meaningful
CITIGROUP REVENUES
|
| | | | | | | | | | | | | |
In millions of dollars | 2014 | 2013 | 2012 | % Change 2014 vs. 2013 | % Change 2013 vs. 2012 |
CITICORP | | | | | |
Global Consumer Banking | | | | | |
North America | $ | 19,669 |
| $ | 19,798 |
| $ | 20,974 |
| (1 | )% | (6 | )% |
Latin America | 8,460 |
| 8,576 |
| 8,035 |
| (1 | ) | 7 |
|
Asia (1) | 7,888 |
| 7,931 |
| 8,115 |
| (1 | ) | (2 | ) |
Total | $ | 36,017 |
| $ | 36,305 |
| $ | 37,124 |
| (1 | )% | (2 | )% |
Institutional Clients Group | | | | | |
North America | $ | 12,391 |
| $ | 11,447 |
| $ | 9,017 |
| 8 | % | 27 | % |
EMEA | 9,491 |
| 9,975 |
| 9,939 |
| (5 | ) | — |
|
Latin America | 4,235 |
| 4,692 |
| 4,710 |
| (10 | ) | — |
|
Asia | 6,935 |
| 7,208 |
| 6,922 |
| (4 | ) | 4 |
|
Total | $ | 33,052 |
| $ | 33,322 |
| $ | 30,588 |
| (1 | )% | 9 | % |
Corporate/Other | $ | 301 |
| $ | 322 |
| $ | 349 |
| (7 | )% | (8 | )% |
Total Citicorp | $ | 69,370 |
| $ | 69,949 |
| $ | 68,061 |
| (1 | )% | 3 | % |
Citi Holdings | $ | 7,849 |
| $ | 6,775 |
| $ | 1,469 |
| 16 | % | NM |
|
Total Citigroup net revenues | $ | 77,219 |
| $ | 76,724 |
| $ | 69,530 |
| 1 | % | 10 | % |
(1) For reporting purposes, Asia GCB includes the results of operations of EMEA GCB for all periods presented.
NM Not meaningful