Citigroup (C) 10-K 26 Feb 10 2009 FY Annual report Financial data

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME (USD $)
In Millions, except Per Share data	12 Months Ended Dec. 31, 2009		12 Months Ended Dec. 31, 2008		12 Months Ended Dec. 31, 2007
Revenues
Interest revenue	$76,635		$106,499		$121,347
Interest expense	27,721		52,750		75,958
Net interest revenue	48,914		53,749		45,389
Commissions and fees	17,116		10,366		20,068
Principal transactions	3,932		(22,601)		(12,347)
Administration and other fiduciary fees	5,195		8,222		8,860
Realized gains (losses) on sales of investments	1,996		679		1,168
Other than temporary impairment losses on investments
Gross impairment losses	(7,262)	[1]	(2,740)	[1]
Less: Impairments recognized in OCI	4,356
Net impairment losses recognized in earnings	(2,906)	[1]	(2,740)	[1]
Insurance premiums	3,020		3,221		3,062
Other revenue	3,018		703		11,100
Total non-interest revenues	31,371		(2,150)		31,911
Total revenues, net of interest expense	80,285		51,599		77,300
Provisions for credit losses and for benefits and claims
Provision for loan losses	38,760		33,674		16,832
Policyholder benefits and claims	1,258		1,403		935
Provision for unfunded lending commitments	244		(363)		150
Total provisions for credit losses and for benefits and claims	40,262		34,714		17,917
Operating expenses
Compensation and benefits	24,987		31,096		32,705
Premises and equipment	4,339		5,317		4,837
Technology/communication	4,573		5,993		5,620
Advertising and marketing	1,415		2,188		2,729
Restructuring	(113)		1,550		1,528
Other operating	12,621		23,096		11,318
Total operating expenses	47,822		69,240		58,737
Income (loss) from continuing operations before income taxes	(7,799)		(52,355)		646
Provision (benefit) for income taxes	(6,733)		(20,326)		(2,546)
Income (loss) from continuing operations	(1,066)		(32,029)		3,192
Discontinued operations
Income (loss) from discontinued operations	(653)		784		1,052
Gain on sale	102		3,139
Provision (benefit) for income taxes	(106)		(79)		344
Income (loss) from discontinued operations, net of taxes	(445)		4,002		708
Net income (loss) before attribution of noncontrolling interests	(1,511)		(28,027)		3,900
Net income (loss) attributable to noncontrolling interests	95		(343)		283
Citigroup's net income (loss)	($1,606)		($27,684)		$3,617
Basic earnings per share
Income (loss) from continuing operations (in dollars per share)	-0.76	[2]	-6.39	[2]	0.53	[2]
Income (loss) from discontinued operations, net of taxes (in dollars per share)	-0.04	[2]	0.76	[2]	0.15	[2]
Net income (loss) (in dollars per share)	-0.8	[2]	-5.63	[2]	0.68	[2]
Weighted average common shares outstanding (in shares)	11568.3		5265.4		4905.8
Diluted earnings per share
Income (loss) from continuing operations (in dollars per share)	-0.76	[2]	-6.39	[2]	0.53	[2]
Income (loss) from discontinued operations, net of taxes (in dollars per share)	-0.04	[2]	0.76	[2]	0.14	[2]
Net income (loss) (in dollars per share)	-0.8	[2]	-5.63	[2]	0.67	[2]
Adjusted weighted average common shares outstanding (in shares)	12,099		5768.9		4,924
[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. This accounting change was not applicable to 2007 and, accordingly, 2007 information is not disclosed above.
[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.

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET (USD $)
In Millions	Dec. 31, 2009	Dec. 31, 2008
Assets
Cash and due from banks (including segregated cash and other deposits)	$25,472	$29,253
Deposits with banks	167,414	170,331
Federal funds sold and securities borrowed or purchased under agreements to resell (including $87,837 and $70,305 as of December 31, 2009 and December 31, 2008, respectively, at fair value)	222,022	184,133
Brokerage receivables	33,634	44,278
Trading account assets (including $111,219 and $148,703 pledged to creditors at December 31, 2009 and December 31, 2008, respectively)	342,773	377,635
Investments (including $15,154 and $14,875 pledged to creditors at December 31, 2009 and December 31, 2008, respectively and $246,429 and $184,451 at December 31, 2009 and December 31, 2008, respectively, at fair value)	306,119	256,020
Loans, net of unearned income
Consumer (including $34 and $36 at fair value as of December 31, 2009 and December 31, 2008, respectively)	424,057	481,387
Corporate (including $1,405 and $2,696 at December 31, 2009 and December 31, 2008, respectively, at fair value)	167,447	212,829
Loans, net of unearned income	591,504	694,216
Allowance for loan losses	(36,033)	(29,616)
Total loans, net	555,471	664,600
Goodwill	25,392	27,132
Intangible assets (other than MSRs)	8,714	14,159
Mortgage servicing rights (MSRs)	6,530	5,657
Other assets (including $12,664 and $21,372 as of December 31, 2009 and December 31, 2008 respectively, at fair value)	163,105	165,272
Total assets	1,856,646	1,938,470
Liabilities
Non-interest-bearing deposits in U.S. offices	71,325	55,485
Interest-bearing deposits in U.S. offices (including $700 and $1,335 at December 31, 2009 and December 31, 2008, respectively, at fair value)	232,093	234,491
Non-interest-bearing deposits in offices outside the U.S.	44,904	37,412
Interest-bearing deposits in offices outside the U.S. (including $845 and $1,271 at December 31, 2009 and December 31, 2008, respectively, at fair value)	487,581	446,797
Total deposits	835,903	774,185
Federal funds purchased and securities loaned or sold under agreements to repurchase (including $104,030 and $138,866 as of December 31, 2009 and December 31, 2008, respectively, at fair value)	154,281	205,293
Brokerage payables	60,846	70,916
Trading account liabilities	137,512	165,800
Short-term borrowings (including $639 and $17,607 at December 31, 2009 and December 31, 2008, respectively, at fair value)	68,879	126,691
Long-term debt (including $25,942 and $27,263 at December 31, 2009 and December 31, 2008, respectively, at fair value)	364,019	359,593
Other liabilities (including $11,542 and $13,567 as of December 31, 2009 and December 31, 2008, respectively, at fair value)	80,233	91,970
Total liabilities	1,701,673	1,794,448
Stockholders' equity
Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 12,038 at December 31, 2009, at aggregate liquidation value	312	70,664
Common stock ($0.01 par value; authorized shares: 60 billion), issued shares: 28,626,100,389 at December 31, 2009 and 5,671,743,807 at December 31, 2008	286	57
Additional paid-in capital	98,142	19,165
Retained earnings	77,440	86,521
Treasury stock, at cost: 2009-142,833,099 shares and 2008-221,675,719 shares	(4,543)	(9,582)
Accumulated other comprehensive income (loss)	(18,937)	(25,195)
Total Citigroup stockholders' equity	152,700	141,630
Noncontrolling interest	2,273	2,392
Total equity	154,973	144,022
Total liabilities and equity	$1,856,646	$1,938,470

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $)
In Millions, except Share data	Dec. 31, 2009	Dec. 31, 2008
CONSOLIDATED BALANCE SHEET
Federal funds sold and securities borrowed or purchased under agreements to resell, at fair value	$87,837	$70,305
Trading account assets, pledged to creditors	111,219	148,703
Investments pledged to creditors	15,154	14,875
Investments, at fair value	246,429	184,451
Consumer loans, at fair value	34	36
Corporate loans, at fair value	1,405	2,696
Other assets, at fair value	12,664	21,372
Interest-bearing deposits in U.S. offices, at fair value	700	1,335
Interest-bearing deposits in offices outside the U.S., at fair value	845	1,271
Federal funds purchased and securities loaned or sold under agreements to repurchase, at fair value	104,030	138,866
Short-term borrowings, at fair value	639	17,607
Long-term debt, at fair value	25,942	27,263
Other liabilities, at fair value	$11,542	$13,567
Preferred stock, par value (in dollars per share)	$1	$1
Preferred stock, authorized shares (in shares)	30,000,000	30,000,000
Preferred stock, issued shares (in shares)	12,038
Common stock, par value (in dollars per share)	0.01	0.01
Common stock, authorized shares (in shares)	60,000,000,000	60,000,000,000
Common stock, issued shares (in shares)	28,626,100,389	5,671,743,807
Treasury stock, shares (in shares)	142,833,099	221,675,719

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)
In Millions, except Share data in Thousands	Citigroup stockholders' equity	Preferred stock at aggregate liquidation value		Common stock and additional paid-in capital	Retained earnings		Treasury stock, at cost		Accumulated other comprehensive income (loss)		Noncontrolling interests	Total
Balance as Previously Reported at Dec. 31, 2006					$129,116				($3,700)
Balance, beginning of year at Dec. 31, 2006		1,000		18,308	128,930		(25,092)		(3,551)		2,713	0
Balance at beginning of year (in shares) at Dec. 31, 2006		4,000		5,477,416			(565,422)
Increase (Decrease) in Stockholders' Equity
Adjustment to opening balance, net of taxes					(186)	[4],[5]			149	[5],[6]
Net income (loss)					3,617							3,900
Redemption or retirement of preferred stock		(1,000)
Redemption or retirement of preferred stock, shares		(4,000)
Employee benefit plans				455
Common dividends					(10,733)	[2]
Preferred dividends					(45)
Issuance of shares pursuant to employee benefit plans							2,853
Issuance of shares pursuant to employee benefit plans, shares							68,839
Treasury stock acquired							(663)	[1]
Treasury stock acquired, shares							(12,463)	[1]
Issuance of shares for Grupo Cuscatlan acquisition				118			637
Issuance of shares for Grupo Cuscatlan acquisition, shares							14,192
Issuance of shares for ATD acquisition				74			503
Issuance of shares for ATD acquisition, shares							11,172
Present value of stock purchase contract payments				(888)
Initial origination of a noncontrolling interest											2,814
Transactions between noncontrolling interest shareholders and the related consolidating subsidiary											(573)
Transactions between Citigroup and the noncontrolling-interest shareholders											(160)
Net income attributable to noncontrolling-interest shareholders											283	(283)
Dividends paid to noncontrolling-interest-shareholders											(226)
Accumulated other comprehensive income-net change in unrealized gains and losses on investment securities, net of tax									(621)		(10)
Net change in cash flow hedges, net of taxes									(3,102)
Accumulated other comprehensive income-net change in FX translation adjustment, net of tax									2,024		140
Pension liability adjustment, net of taxes									590	[3]
Other				(5)			38				327
Other, shares							847
Net change in Accumulated other comprehensive income (loss)									(1,109)			(979)
Total comprehensive income (loss)												2,921
Comprehensive income (loss) attributable to the noncontrolling interest												413
Comprehensive income (loss) attributable to Citigroup												2,508
Net change in noncontrolling interests											2,595
Balance as Previously Reported at Dec. 31, 2007					121,769				(4,660)
Balance, end of year at Dec. 31, 2007	113,447		113,447	18,062	121,769		(21,724)		(4,660)		5,308	118,755
Balance at end of year (in shares) at Dec. 31, 2007			4,994,581	5,477,416			(482,835)
Increase (Decrease) in Stockholders' Equity
Net income (loss)					(27,684)							(28,027)
Issuance of new preferred stock		70,627
Issuance of new preferred stock, shares		829
Employee benefit plans				(1,921)
Issuance of new common stock				4,911
Issuance of new common stock, shares				194,328
Common dividends					(6,050)	[2]
Preferred dividends					(1,477)
Preferred stock Series H discount accretion		37			(37)
Issuance of shares pursuant to employee benefit plans							4,270
Issuance of shares pursuant to employee benefit plans, shares							84,724
Treasury stock acquired							(7)	[1]
Treasury stock acquired, shares							(343)	[1]
Issuance of shares for Nikko Cordial acquisition				(3,500)			7,858
Issuance of shares for Nikko acquisition, shares							174,653
Issuance of TARP-related warrants				1,797
Initial origination of a noncontrolling interest											1,409
Transactions between noncontrolling interest shareholders and the related consolidating subsidiary											(2,348)
Transactions between Citigroup and the noncontrolling-interest shareholders											(1,207)
Net income attributable to noncontrolling-interest shareholders											(343)	343
Dividends paid to noncontrolling-interest-shareholders											(168)
Accumulated other comprehensive income-net change in unrealized gains and losses on investment securities, net of tax									(10,118)		3
Net change in cash flow hedges, net of taxes									(2,026)
Accumulated other comprehensive income-net change in FX translation adjustment, net of tax									(6,972)		(167)
Pension liability adjustment, net of taxes									(1,419)	[3]
Other				(127)			21				(95)
Other, shares							2,125
Net change in Accumulated other comprehensive income (loss)									(20,535)			(20,699)
Total comprehensive income (loss)												(48,726)
Comprehensive income (loss) attributable to the noncontrolling interest												(507)
Comprehensive income (loss) attributable to Citigroup												(48,219)
Net change in noncontrolling interests											(2,916)
Balance as Previously Reported at Dec. 31, 2008					86,521				(25,195)
Balance, end of year at Dec. 31, 2008	141,630	70,664	70,966	19,222	86,934		(9,582)		(25,608)		2,392	144,022
Balance at end of year (in shares) at Dec. 31, 2008		829	5,450,068	5,671,744			(221,676)
Increase (Decrease) in Stockholders' Equity
Adjustment to opening balance, net of taxes					413	[4],[5]			(413)	[5],[6]
Net income (loss)					(1,606)							(1,511)
Redemption or retirement of preferred stock		(74,005)
Redemption or retirement of preferred stock, shares		(824)
Issuance of new preferred stock		3,530
Issuance of new preferred stock, shares		7
Employee benefit plans				(4,395)
Common dividends					(36)	[2]
Preferred dividends					(3,202)
Preferred stock Series H discount accretion		123			(123)
Conversion of preferred stock to common stock				61,963	(3,242)
Conversion of preferred stock to common stock, shares				17,372,588
Reset of convertible preferred stock conversion price				1,285	(1,285)
Issuance of shares pursuant to employee benefit plans							5,020
Issuance of shares pursuant to employee benefit plans, shares							79,247
Treasury stock acquired							(3)	[1]
Treasury stock acquired, shares							(971)	[1]
Issuance of shares and T-DECs for TARP repayment				20,298
Issuance of shares and T-DECs for TARP repayment, shares				5,581,768
Issuance of TARP-related warrants				88
Initial origination of a noncontrolling interest											285
Transactions between noncontrolling interest shareholders and the related consolidating subsidiary											(134)
Transactions between Citigroup and the noncontrolling-interest shareholders											(354)
Net income attributable to noncontrolling-interest shareholders											95	(95)
Dividends paid to noncontrolling-interest-shareholders											(17)
Accumulated other comprehensive income-net change in unrealized gains and losses on investment securities, net of tax									5,713		5
Net change in cash flow hedges, net of taxes									2,007
Accumulated other comprehensive income-net change in FX translation adjustment, net of tax									(203)		39
Pension liability adjustment, net of taxes									(846)	[3]
Other				(33)			22				(38)
Other, shares							567
Net change in Accumulated other comprehensive income (loss)									6,671			6,715
Total comprehensive income (loss)												5,204
Comprehensive income (loss) attributable to the noncontrolling interest												139
Comprehensive income (loss) attributable to Citigroup												5,065
Net change in noncontrolling interests											(119)
Balance, end of year at Dec. 31, 2009	$152,700	$312	$152,388	$98,428	$77,440		($4,543)		($18,937)		$2,273	$154,973
Balance at end of year (in shares) at Dec. 31, 2009		12	28,483,267	28,626,100			(142,833)
[1]All open market repurchases were transacted under an existing authorized share repurchase plan and relate to customer fails/errors.
[2]Common dividends declared were as follows: $0.01 per share in the first quarter of 2009, $0.32 per share in the first, second and third quarters of 2008, $0.16 in the fourth quarter of 2008; $0.54 per share in the first, second, third and fourth quarters of 2007.
[3]In 2009, reflects decreased return on assets for the U.S. plan. In 2008, reflects decreased fair value of plan assets and a lower discount rate, which increased the PBO (Projected Benefit Obligation). In 2007, reflects changes in the funded status of the Company's pension and postretirement plans.
[4]The adjustment to the opening balance of Retained earnings in 2007 represents the total of the after-tax gain (loss) amounts for the adoption of the following accounting pronouncements: - ASC 820, Fair Value Measurements and Disclosures (SFAS 157) for $75 million, - ASC 825-10-05, Financial Instruments-Fair Value Option (SFAS 159) for $(99) million, - ASC 840, Leases (FSP 13-2) for $(148) million, and - ASC 740, Income Taxes (FIN 48) for $(14) million. See Notes 1, 26 and 27 to the Consolidated Financial Statements.
[5]The adjustment to the opening balances for Retained earnings and Accumulated other comprehensive income (loss) represents the cumulative effect of initially adopting ASC 320-10-35-34, Investments-Debt and Equity securities: Recognition of an Other-Than-Temporary Impairment (formerly FSP FAS 115-2 and FAS 124-2).
[6]The after-tax adjustment to the opening balance of Accumulated other comprehensive income (loss) represents the reclassification of the unrealized gains (losses) related to the Legg Mason securities as well as several miscellaneous items previously reported. The related unrealized gains and losses were reclassified to Retained earnings upon the adoption of the fair value option. See Notes 1, 26 and 27 to the Consolidated Financial Statements for further discussion.

1_CONSOLIDATED STATEMENT OF CHA

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Parenthetical) (USD $)
In Millions, except Per Share data	3 Months Ended Mar. 31, 2009	3 Months Ended Dec. 31, 2008	3 Months Ended Sep. 30, 2008	3 Months Ended Jun. 30, 2008	3 Months Ended Mar. 31, 2008	3 Months Ended Dec. 31, 2007	3 Months Ended Sep. 30, 2007	3 Months Ended Jun. 30, 2007	3 Months Ended Mar. 31, 2007	12 Months Ended Dec. 31, 2009
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
ASC 820 (SFAS 157) for $75 million										$75
ASC 825 (SFAS 159) for $(99) million										(99)
ASC 840 (FSP 13-2) for $(148) million										(148)
ASC 740 (FIN 48) for $(14) million										($14)
Common dividends declared per share	0.01	0.16	0.32	0.32	0.32	0.54	0.54	0.54	0.54

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Cash flows from operating activities of continuing operations
Net income (loss) before attribution of noncontrolling interests	($1,511)	($28,027)	$3,900
Net income (loss) attributable to noncontrolling interests	95	(343)	283
Citigroup's net income (loss)	(1,606)	(27,684)	3,617
Income (loss) from discontinued operations, net of taxes	(402)	1,070	708
Gain (loss) on sale, net of taxes	(43)	2,932
Income (loss) from continuing operations-excluding noncontrolling interests	(1,161)	(31,686)	2,909
Adjustments to reconcile net income to net cash (used in) provided by operating activities of continuing operations
Amortization of deferred policy acquisition costs and present value of future profits	434	206	369
Additions to deferred policy acquisition costs	(461)	(397)	(482)
Depreciation and amortization	2,853	2,466	2,421
Deferred tax benefit	(7,709)	(20,535)	(3,927)
Provision for credit losses	39,004	33,311	16,982
Change in trading account assets	25,864	123,845	(62,798)
Change in trading account liabilities	(25,382)	(14,604)	20,893
Change in federal funds sold and securities borrowed or purchased under agreements to resell	(43,726)	89,933	38,143
Change in federal funds purchased and securities loaned or sold under agreements to repurchase	(47,669)	(98,950)	(56,983)
Change in brokerage receivables net of brokerage payables	1,847	(954)	(15,529)
Realized gains from sales of investments	(1,996)	(679)	(1,168)
Change in loans held-for-sale	(1,711)	29,009	(30,649)
Other, net	4,094	(14,445)	18,268
Total adjustments	(54,558)	128,206	(74,460)
Net cash (used in) provided by operating activities of continuing operations	(55,719)	96,520	(71,551)
Cash flows from investing activities of continuing operations
Change in deposits with banks	2,519	(100,965)	(17,216)
Change in loans	(148,651)	(270,521)	(361,934)
Proceeds from sales and securitizations of loans	241,367	313,808	273,464
Purchases of investments	(281,115)	(344,336)	(274,426)
Proceeds from sales of investments	85,395	93,666	211,753
Proceeds from maturities of investments	133,614	209,312	121,346
Capital expenditures on premises and equipment	(1,146)	(2,541)	(4,003)
Proceeds from sales of premises and equipment, subsidiaries and affiliates, and repossessed assets	6,303	23,966	4,253
Business acquisitions			(15,614)
Net cash provided by (used in) investing activities of continuing operations	38,286	(77,611)	(62,377)
Cash flows from financing activities of continuing operations
Dividends paid	(3,237)	(7,526)	(10,778)
Issuance of common stock	17,514	6,864	1,060
Issuances (redemptions) of preferred stock, net		70,626	(1,000)
Issuances of T-DECs - APIC	2,784
Treasury stock acquired	(3)	(7)	(663)
Stock tendered for payment of withholding taxes	(120)	(400)	(951)
Issuance of long-term debt	110,088	90,414	118,496
Payments and redemptions of long-term debt	(123,743)	(132,901)	(65,517)
Change in deposits	61,718	(37,811)	93,422
Change in short-term borrowings	(51,995)	(13,796)	10,425
Net cash provided by (used in) financing activities of continuing operations	13,006	(24,537)	144,494
Effect of exchange rate changes on cash and cash equivalents	632	(2,948)	1,005
Discontinued operations
Net cash provided by (used in) discontinued operations	14	(377)	121
Change in cash and due from banks	(3,781)	(8,953)	11,692
Cash and due from banks at beginning of period	29,253	38,206	26,514
Cash and due from banks at end of period	25,472	29,253	38,206
Supplemental disclosure of cash flow information for continuing operations
Cash (received) paid during the year for income taxes	(289)	3,170	5,923
Cash paid during the year for interest	28,389	55,678	72,732
Non-cash investing activities
Transfers to repossessed assets	2,880	3,439	2,287
Transfers to investments (held-to-maturity) from trading account assets		33,258
Transfers to investments (available-for-sale) from trading account assets		4,654
Transfers to loans held for investment (loans) from loans held-for-sale		$15,891

CITIBANK CONSOLIDATED BALANCE S

CITIBANK CONSOLIDATED BALANCE SHEET (USD $)
In Millions	Dec. 31, 2009		Dec. 31, 2008
Assets
Cash and due from banks	$25,472		$29,253
Deposits with banks	167,414		170,331
Federal funds sold and securities purchased under agreements to resell	222,022		184,133
Trading account assets (including $914 and $12,092 pledged to creditors at December 31, 2009 and December 31, 2008, respectively)	342,773		377,635
Investments (including $3,849 and $3,028 pledged to creditors at December 31, 2009 and December 31, 2008, respectively)	306,119		256,020
Loans, net of unearned income	591,504		694,216
Allowance for loan losses	(36,033)		(29,616)
Total loans, net	555,471		664,600
Goodwill	25,392		27,132
Other assets	163,105		165,272
Total assets	1,856,646		1,938,470
Liabilities
Non-interest-bearing deposits in U.S. offices	71,325		55,485
Interest-bearing deposits in U.S. offices	232,093		234,491
Non-interest-bearing deposits in offices outside the U.S.	44,904		37,412
Interest-bearing deposits in offices outside the U.S.	487,581		446,797
Total deposits	835,903		774,185
Trading account liabilities	137,512		165,800
Long-term debt and subordinated notes	364,019		359,593
Other liabilities	80,233		91,970
Total liabilities	1,701,673		1,794,448
Citibank stockholders' equity
Capital stock ($20 par value) outstanding shares: 37,534,553 in each period	286		57
Surplus	98,142		19,165
Retained earnings	77,440		86,521
Accumulated other comprehensive income (loss)	(18,937)		(25,195)
Total Citibank stockholders' equity	152,700		141,630
Noncontrolling interest	2,273		2,392
Total equity	154,973		144,022
Total liabilities and equity	1,856,646		1,938,470
Citibank, N.A. and Subsidiaries
Assets
Cash and due from banks	20,246		22,107
Deposits with banks	154,372		156,774
Federal funds sold and securities purchased under agreements to resell	31,434		41,613
Trading account assets (including $914 and $12,092 pledged to creditors at December 31, 2009 and December 31, 2008, respectively)	156,380		197,052
Investments (including $3,849 and $3,028 pledged to creditors at December 31, 2009 and December 31, 2008, respectively)	233,086		165,914
Loans, net of unearned income	477,974		555,198
Allowance for loan losses	(22,685)		(18,273)
Total loans, net	455,289		536,925
Goodwill	10,200		10,148
Intangible assets	8,243		7,689
Premises and equipment, net	4,832		5,331
Interest and fees receivable	6,840		7,171
Other assets	80,439		76,316
Total assets	1,161,361		1,227,040
Liabilities
Non-interest-bearing deposits in U.S. offices	76,729		55,223
Interest-bearing deposits in U.S. offices	176,149		185,322
Non-interest-bearing deposits in offices outside the U.S.	39,414		33,769
Interest-bearing deposits in offices outside the U.S.	479,350		480,984
Total deposits	771,642		755,298
Trading account liabilities	52,010		108,921
Purchased funds and other borrowings	89,503		116,333
Accrued taxes and other expenses	9,046		8,192
Long-term debt and subordinated notes	82,086		113,381
Other liabilities	39,181		42,475
Total liabilities	1,043,468		1,144,600
Citibank stockholders' equity
Capital stock ($20 par value) outstanding shares: 37,534,553 in each period	751		751
Surplus	107,923		74,767
Retained earnings	19,457		21,735
Accumulated other comprehensive income (loss)	(11,532)	[1]	(15,895)	[1]
Total Citibank stockholders' equity	116,599		81,358
Noncontrolling interest	1,294		1,082
Total equity	117,893		82,440
Total liabilities and equity	$1,161,361		$1,227,040
[1]Amounts at December 31, 2009 and December 31, 2008 include the after-tax amounts for net unrealized gains (losses) on investment securities of $(4.735) billion and $(8.008) billion, respectively, for foreign currency translation of $(3.255) billion and $(3.964) billion, respectively, for cash flow hedges of $(2.367) billion and $(3.247) billion, respectively, and for pension liability adjustments of $(1.175) billion and $(676) million, respectively.

2_CITIBANK CONSOLIDATED BALANCE

CITIBANK CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $)
In Millions, except Share data	Dec. 31, 2009	Dec. 31, 2008
Investments pledged to creditors	$15,154	$14,875
Capital stock, par value (in dollars per share)	0.01	0.01
Citibank, N.A. and Subsidiaries
Trading account assets pledged to creditors	914	12,092
Investments pledged to creditors	3,849	3,028
Capital stock, par value (in dollars per share)	$20	$20
Capital stock, shares outstanding (in shares)	37,534,553	37,534,553
Unrealized gains (losses) on investment securities, after-tax	(4,735)	(8,008)
Foreign currency translation, after-tax	(3,255)	(3,964)
Cash flow hedges, after-tax	(2,367)	(3,247)
Pension liability adjustments, after-tax	($1,175)	($676)

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The Consolidated Financial Statements include the accounts of Citigroup and its subsidiaries (the Company). The Company consolidates subsidiaries in which it holds, directly or indirectly, more than 50% of the voting rights or where it exercises control. Entities where the Company holds 20% to 50% of the voting rights and/or has the ability to exercise significant influence, other than investments of designated venture capital subsidiaries, or investments accounted for at fair value under the fair value option, are accounted for under the equity method, and the pro rata share of their income (loss) is included in Other revenue. Income from investments in less than 20%-owned companies is recognized when dividends are received. As discussed below, Citigroup consolidates entities deemed to be variable-interest entities when Citigroup is determined to be the primary beneficiary. Gains and losses on the disposition of branches, subsidiaries, affiliates, buildings, and other investments and charges for managements estimate of impairment in their value that is other than temporary, such that recovery of the carrying amount is deemed unlikely, are included in Other revenue. Certain reclassifications have been made to the prior-periods financial statements and notes to conform to the current periods presentation. Citibank, N.A. Citibank, N.A. is a commercial bank and wholly owned subsidiary of Citigroup Inc. Citibanks principal offerings include consumer finance, mortgage lending, and retail banking products and services; investment banking, commercial banking, cash management, trade finance and e-commerce products and services; and private banking products and services. The Company includes a balance sheet and statement of changes in stockholders equity for Citibank, N.A. to provide information about this entity to shareholders and international regulatory agencies. (See Note 31 to the Consolidated Financial Statements for further discussion.) Variable Interest Entities An entity is referred to as a variable interest entity (VIE) if it meets the criteria outlined in ASC 810, Consolidation (formerly FASB Interpretation No. 46(R), Consolidation of Variable Interest Entities (revised December 2003) (FIN 46(R)), which are: (1) the entity has equity that is insufficient to permit the entity to finance its activities without additional subordinated financial support from other parties, or (2) the entity has equity investors that cannot make significant decisions about the entitys operations or that do not absorb their proportionate share of the expected losses or receive the expected returns of the entity. In addition, a VIE must be consolidated by the Company if it is deemed to be the primary beneficiary of the VIE, which is the party involved with the VIE that has a majority of the expected losses or a majority of the expected residual returns or both. Along with the VIEs that are consolidated in accordance with these guidelines, the Company has significant variable interests in other VIEs that are not consolidated because the Company is not the prima

BUSINESS DEVELOPMENTS ACQUISITI

BUSINESS DEVELOPMENTS ACQUISITIONS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
BUSINESS DEVELOPMENTS ACQUISITIONS	2. BUSINESS DEVELOPMENTS ACQUISITIONS North America Acquisition of ABN AMRO Mortgage GroupIn 2007, Citigroup acquired ABN AMRO Mortgage Group (AAMG), a subsidiary of LaSalle Bank Corporation and ABN AMRO Bank N.V. AAMG is a national originator and servicer of prime residential mortgage loans. As part of this acquisition, Citigroup purchased approximately $12 billion in assets, including $3 billion of mortgage servicing rights, which resulted in the addition of approximately 1.5 million servicing customers. Results for AAMG are included within Citigroups North America Regional Consumer Banking business from March 1, 2007 forward. Acquisition of Old Lane Partners, L.P.In 2007, the Company completed the acquisition of Old Lane Partners, L.P. and Old Lane Partners, GP, LLC (Old Lane). Old Lane is the manager of a global, multistrategy hedge fund and a private equity fund. Results for Old Lane are included within ICG, from July 2, 2007 forward.On June 12, 2008, Citigroup announced the restructuring of Old Lane and its multistrategy hedge fund (the Fund) in anticipation of redemptions by all unaffiliated, non-Citigroup employee investors. To accomplish this restructuring, Citigroup purchased substantially all of the assets of the Fund at fair value on June 30, 2008. The fair value of assets purchased from the Fund was approximately $6 billion at June 30, 2008. Acquisition of BISYSIn 2007, the Company completed its acquisition of BISYS Group, Inc. (BISYS) for $1.47 billion in cash. In addition, BISYSs shareholders received $18.2 million in the form of a special dividend paid by BISYS simultaneously. Citigroup completed the sale of the Retirement and Insurance Services Divisions of BISYS to affiliates of J.C. Flowers Co. LLC, making the net cost of the transaction to Citigroup approximately $800 million. Citigroup retained the Fund Services and Alternative Investment Services businesses of BISYS, which provides administrative services for hedge funds, mutual funds and private equity funds. Results for BISYS are included within Transaction Services business from August 1, 2007 forward. Acquisition of Automated Trading DeskIn 2007, Citigroup completed its acquisition of Automated Trading Desk (ATD), a leader in electronic market making and proprietary trading, for approximately $680 million ($102.6 million in cash and approximately 11.17 million shares of Citigroup common stock). ATD operates as a unit of Citigroups Global Equities business, adding a network of broker-dealer customers to Citigroups diverse base of institutional, broker-dealer and retail customers. Results for ATD are included within Citigroups Securities and Banking business from October 3, 2007 forward. Latin America Acquisition of Grupo Financiero UnoIn 2007, Citigroup completed its acquisition of Grupo Financiero Uno (GFU), the largest credit card issuer in Central America, and its affiliates.The acquisition of GFU, with $2.2 billion in assets, expands the presence of Citigroups Latin America Consumer Banking franchise, enhances its credit card business in the region and establishes a platform for regional growth in Consumer Finance and Retail Banking.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
DISCONTINUED OPERATIONS	3. DISCONTINUED OPERATIONS Sale of Nikko CordialOn October 1, 2009 the Company announced the successful completion of the sale of Nikko Cordial Securities to Sumitomo Mitsui Banking Corporation. The transaction had a total cash value to Citi of 776 billion yen (U.S. $8.7 billion at an exchange rate of 89.60 yen to U.S. $1.00 as of September 30, 2009). The cash value is composed of the purchase price for the transferred business of 545 billion yen, the purchase price for certain Japanese-listed equity securities held by Nikko Cordial Securities of 30 billion yen, and 201 billion yen of excess cash derived through the repayment of outstanding indebtedness to Citi. After considering the impact of foreign exchange hedges of the proceeds of the transaction, the sale resulted an immaterial gain in 2009. A total of about 7,800 employees are included in the transaction.The Nikko Cordial operations had total assets and total liabilities of approximately $24 billion and $16 billion, respectively, at the time of sale, which were reflected in Citi Holdings prior to the sale.Results for all of the Nikko Cordial businesses sold are reported as Discontinued operations for all periods presented. Summarized financial information for Discontinued operations, including cash flows, related to the sale of Nikko Cordial is as follows: In millions of dollars 2009 2008 2007 Total revenues, net of interest expense $ 646 $ 1,194 $ 1,195 Income (loss) from discontinued operations $ (623 ) $ (694 ) $ 128 Gain on sale 97 Provision (benefit) for income taxes (78 ) (286 ) 48 Income (loss) from discontinued operations, net of taxes $ (448 ) $ (408 ) $ 80 In millions of dollars 2009 2008 2007 Cash flows from operating activities $ 13,867 $ (2,853 ) $ 11,169 Cash flows from investing activities (20,115 ) (3,306 ) (13,865 ) Cash flows from financing activities 6,233 6,179 2,710 Net cash provided by (used in) discontinued operations $ (15 ) $ 20 $ 14 Sale of Citigroups German Retail Banking OperationsOn December 5, 2008, Citigroup sold its German retail banking operations to Crdit Mutuel for 5.2 billion Euro in cash plus the German retail banks operating net earnings accrued in 2008 through the closing. The sale resulted in an after-tax gain of approximately $3.9 billion, including the after-tax gain on the foreign currency hedge of $383 million recognized during the fourth quarter of 2008. The sale does not include the corporate and investment banking business or the Germany-based European data center. The German retail banking operations had total assets and total liabilities as of November 30, 2008 of $15.6 billion and $11.8 billion, respectively. Results for all of the German retail banking businesses sold, as well as the net gain recognized in 2008 from this sale, are reported as Discontinued operations for all periods presented. Summarized financial information for Discontinued operations, including cash flows, related to the sale of the German retail banking operations is as f

BUSINESS SEGMENTS

BUSINESS SEGMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
BUSINESS SEGMENTS	4. BUSINESS SEGMENTS Citigroup is a diversified bank holding company whose businesses provide a broad range of financial services to consumer and corporate customers around the world. The Companys activities are conducted through the Regional Consumer Banking, Institutional Clients Group (ICG), Citi Holdings and Corporate/Other business segments. The Regional Consumer Banking segment includes a global, full-service consumer franchise delivering a wide array of banking, credit card lending, and investment services through a network of local branches, offices and electronic delivery systems.The businesses included in the Companys ICG segment provide corporations, governments, institutions and investors in approximately 100 countries with a broad range of banking and financial products and services. The Citi Holdings segment is composed of the Brokerage and Asset Management, Local Consumer Lending and Special Asset Pool.Corporate/Other includes net treasury results, unallocated corporate expenses, offsets to certain line-item reclassifications (eliminations), the results of discontinued operations and unallocated taxes.The accounting policies of these reportable segments are the same as those disclosed in Note 1 to the Consolidated Financial Statements. The following table presents certain information regarding the Companys continuing operations by segment: Identifiable Revenues, Provision (benefit) Income (loss) from assets net of interest expense (1) for income taxes continuing operations (1)(2)(3) at year end In millions of dollars, except identifiable assets in billions 2009 2008 2007 2009 2008 2007 2009 2008 2007 2009 2008 Regional Consumer Banking $ 22,771 $ 25,674 $ 26,643 $ (386 ) $ 136 $ 2,122 $ 1,891 $ (3,140 ) $ 5,589 $ 213 $ 199 Institutional Clients Group 37,435 34,881 33,454 5,261 2,746 3,116 12,888 9,305 8,969 866 803 Subtotal Citicorp 60,206 60,555 60,097 4,875 2,882 5,238 14,779 6,165 14,558 1,079 1,002 Citi Holdings 30,635 (6,698 ) 19,513 (7,239 ) (22,621 ) (6,338 ) (8,239 ) (36,012 ) (8,692 ) 547 715 Corporate/Other (10,556 ) (2,258 ) (2,310 ) (4,369 ) (587 ) (1,446 ) (7,606 ) (2,182 ) (2,674 ) 231 221 Total $ 80,285 $ 51,599 $ 77,300 $ (6,733 ) $ (20,326 ) $ (2,546 ) $ (1,066 ) $ (32,029 ) $ 3,192 $ 1,857 $ 1,938 (1) Includes Citicorp total revenues, net of interest expense, in North America of $19.2 billion, $20.9 billion and $20.4 billion; in EMEA of $15.0 billion, $11.5 billion and $12.3 billion; in Latin America of $12.1 billion, $12.6 billion and $12.6 billion; and in Asia of $13.9 billion, $15.5 billion and $14.7 billion in 2009, 2008 and 2007, respectively. Regional numbers exclude Citi Holdings and Corporate/Other, which largely operate within the U.S. (2) Includes pretax provisions (credits) for credit loss

INTEREST REVENUE AND EXPENSE

INTEREST REVENUE AND EXPENSE
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
INTEREST REVENUE AND EXPENSE	5. INTEREST REVENUE AND EXPENSE For the years ended December 31, 2009, 2008 and 2007, respectively, interest revenue and expense consisted of the following: In millions of dollars 2009 2008 (1) 2007 (1) Interest revenue Loan interest, including fees $ 47,457 $ 62,336 $ 63,201 Deposits with banks 1,478 3,074 3,097 Federal funds sold and securities purchased under agreements to resell 3,084 9,150 18,341 Investments, including dividends 13,119 10,718 13,423 Trading account assets (2) 10,723 17,446 18,474 Other interest 774 3,775 4,811 Total interest revenue $ 76,635 $ 106,499 $ 121,347 Interest expense Deposits (3) $ 10,146 $ 20,271 $ 28,402 Federal funds purchased and securities loaned or sold under agreements to repurchase 3,433 11,265 23,003 Trading account liabilities (2) 289 1,257 1,420 Short-term borrowings 1,425 3,911 7,023 Long-term debt 12,428 16,046 16,110 Total interest expense $ 27,721 $ 52,750 $ 75,958 Net interest revenue $ 48,914 $ 53,749 $ 45,389 Provision for loan losses 38,760 33,674 16,832 Net interest revenue after provision for loan losses $ 10,154 $ 20,075 $ 28,557 (1) Reclassified to conform to the current periods presentation. (2) Interest expense on Trading account liabilities of ICG is reported as a reduction of interest revenue from Trading account assets. (3) Includes FDIC deposit insurance fees and charges.

COMMISSIONS AND FEES

COMMISSIONS AND FEES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
COMMISSIONS AND FEES	6. COMMISSIONS AND FEES Commissions and fees revenue includes charges to customers for credit and bank cards, including transaction-processing fees and annual fees; advisory and equity and debt underwriting services; lending and deposit-related transactions, such as loan commitments, standby letters of credit and other deposit and loan servicing activities; investment management-related fees, including brokerage services and custody and trust services; and insurance fees and commissions.The following table presents commissions and fees revenue for the years ended December 31: In millions of dollars 2009 2008 2007 Credit cards and bank cards $ 4,110 $ 4,517 $ 5,036 Investment banking 3,466 2,284 5,228 Smith Barney 837 2,836 3,265 ICG trading-related 1,729 2,322 2,706 Transaction services 1,306 1,423 1,166 Other consumer 1,343 1,211 649 Checking-related 1,043 1,134 1,108 Other ICG 531 747 295 Primerica 314 415 455 Loan servicing (1) 1,858 (1,731 ) 560 Corporate finance (2) 697 (4,876 ) (667 ) Other (118 ) 84 267 Total commissions and fees $ 17,116 $ 10,366 $ 20,068 (1) Includes fair value adjustments on mortgage servicing assets. The mark-to-market on the underlying economic hedges of the MSRs is included in Other revenue. (2) Includes write-downs of approximately $4.9 billion in 2008 and $1.5 billion in 2007, net of underwriting fees, on funded and unfunded highly leveraged finance commitments, recorded at fair value and reported as loans held for sale in Other assets. Write-downs were recorded on all highly leveraged finance commitments where there was value impairment, regardless of funding date.

PRINCIPAL TRANSACTIONS

PRINCIPAL TRANSACTIONS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
PRINCIPAL TRANSACTIONS	7. PRINCIPAL TRANSACTIONS Principal transactions revenue consists of realized and unrealized gains and losses from trading activities. Trading activities include revenues from fixed income, equities, credit and commodities products, as well as foreign exchange transactions. Not included in the table below is the impact of net interest revenue related to trading activities, which is an integral part of trading activities profitability. The following table presents principal transactions revenue for the years ended December 31: In millions of dollars 2009 2008 2007 Regional Consumer Banking $ 911 $ 149 $ 592 Institutional Clients Group 6,194 6,498 6,324 Subtotal Citicorp $ 7,105 6,647 6,916 Local Consumer Lending (449 ) 1,520 773 Brokerage and Asset Management 33 (4,958 ) 172 Special Asset Pool (3,112 ) (26,714 ) (20,719 ) Subtotal Citi Holdings $ (3,528 ) (30,152 ) (19,774 ) Corporate/Other 355 904 511 Total Citigroup $ 3,932 $ (22,601 ) $ (12,347 ) In millions of dollars 2009 2008 2007 Interest rate contracts (1) $ 4,075 $ (9,081 ) 159 Foreign exchange contracts (2) 2,762 3,921 2,573 Equity contracts (3) (334 ) (958 ) 521 Commodity and other contracts (4) 924 970 662 Credit derivatives (5) (3,495 ) (17,453 ) (16,262 ) Total Citigroup $ 3,932 $ (22,601 ) $ (12,347 ) (1) Includes revenues from government securities and corporate debt, municipal securities, preferred stock, mortgage securities, and other debt instruments. Also includes spot and forward trading of currencies and exchange-traded and over-the-counter (OTC) currency options, options on fixed income securities, interest rate swaps, currency swaps, swap options, caps and floors, financial futures, OTC options, and forward contracts on fixed income securities. (2) Includes revenues from foreign exchange spot, forward, option and swap contracts, as well as translation gains and losses. (3) Includes revenues from common, preferred and convertible preferred stock, convertible corporate debt, equity-linked notes, and exchange-traded and OTC equity options and warrants. (4) Primarily includes revenues from crude oil, refined oil products, natural gas, and other commodities trades. (5) Includes revenues from structured credit products.

INCENTIVE PLANS

INCENTIVE PLANS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
INCENTIVE PLANS	8. INCENTIVE PLANS The Company has adopted a number of equity compensation plans under which it administers stock options, restricted or deferred stock awards, stock paymentsand stock purchase programs. The award programs are used to attract, retain and motivate officers, employees and non-employee directors, to provide incentives for their contributions to the long-term performance and growth of the Company, and to align their interests with those of stockholders. The plans are administered by the Personnel and Compensation Committee of the Citigroup Board of Directors (the Committee), which is composed entirely of independent non-employee directors. Since April 19, 2005, all equity awards have been pursuant to stockholder-approved plans.At December 31, 2009, approximately 580.33 million shares were authorized and available for grant under Citigroups 2009 Stock Incentive Plan, and approximately 66.45 million shares were available for purchase under Citigroups 2000 Stock Purchase Plan. The final purchase date for the last offering under the stock purchase plan was in 2005 and the plan will expire by its terms on April 30, 2010. Citigroups general practice is to deliver shares from treasury stock upon the exercise or vesting of equity awards.The following table shows components of compensation expense relating to the Companys stock-based compensation programs as recorded during 2009, 2008 and 2007: In millions of dollars 2009 2008 2007 Charges for estimated awards to retirement-eligible employees $ 207 $ 110 $ 467 Option expense 55 29 86 Amortization of deferred cash awards 113 Amortization of MC LTIP awards (1) 19 18 18 Amortization of salary stock awards 162 Amortization of restricted and deferred stock awards (2) 1,543 3,133 2,728 Total $ 2,099 $ 3,290 $ 3,299 (1) Management Committee Long-Term Incentive Plan (MC LTIP) awards were granted in 2007. The awards expired in December 2009 without the issuance of shares. (2) Represents amortization of expense over the remaining life of all unvested restricted and deferred stock awards granted to all employees prior to 2006. The 2009, 2008 and 2007 periods also include amortization expense for all unvested awards to non-retirement-eligible employees on or after January 1, 2006. Amortization includes estimated forfeitures of awards. 150 Stock Award ProgramsCitigroup issues (and has issued) shares of its common stock in the form of restricted stock awards, deferred stock awards, and stock payments pursuant to the 2009 Stock Incentive Plan (and predecessor plans) to its officers, employees and non-employee directors.Citigroups primary stock award program is the Capital Accumulation Program (CAP). Generally, CAP awards of restricted or deferred stock constitute a percentage of annual incentive compensation and vest ratably over four-year periods, beginning on the first anniversary of the award date.Continuous employment within Citigroup is generally required to vest in CAP and other stock award programs. Typically, full or partial vesting is provided for p

RETIREMENT BENEFITS

RETIREMENT BENEFITS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
RETIREMENT BENEFITS	9. RETIREMENT BENEFITS The Company has several non-contributory defined-benefit pension plans coveringcertain U.S. employees and has various defined-benefit pension and termination-indemnity plans covering employees outside the United States. The U.S. qualified defined-benefit plan provides benefits under a cash balance formula. However, employees satisfying certain age and service requirements remain covered by a prior final-average pay formula under that plan. Effective January 1, 2008, the U.S. qualified pension plan was frozen for most employees. Accordingly, no additional compensation-based contributions were credited to the cash-balance plan for existing plan participants during 2008 or 2009. However, certain employees covered under the prior final-pay plan continue to accrue benefits. The Company also offers postretirement health care and life insurance benefits to certain eligible U.S. retired employees, as well as to certain eligible employees outside the United States.The following tables summarize the components of net (benefit) expense recognized in the Consolidated Statement of Income and the funded status and amounts recognized in the Consolidated Balance Sheet for the Companys U.S. qualified pension plan, postretirement plans and plans outside the United States. The Company uses a December 31 measurement date for the U.S. plans as well as the plans outside the United States. Net (Benefit) Expense Pension plans Postretirement benefit plans U.S. plans (1) Non-U.S. plans U.S. plans Non-U.S. plans In millions of dollars 2009 2008 2007 2009 2008 2007 2009 2008 2007 2009 2008 2007 Benefits earned during the year $ 18 $ 23 $ 301 $ 148 $ 201 $ 202 $ 1 $ 1 $ 1 $ 26 $ 36 $ 27 Interest cost on benefit obligation 649 674 641 301 354 318 61 62 59 89 96 75 Expected return on plan assets (912 ) (949 ) (889 ) (336 ) (487 ) (477 ) (10 ) (12 ) (12 ) (77 ) (109 ) (103 ) Amortization of unrecognized Net transition obligation (1 ) 1 2 Prior service cost (benefit) (1 ) (2 ) (3 ) 4 4 3 (1 ) (3 ) Net actuarial loss 10 84 60 24 39 2 4 3 18 21 13 Curtailment (gain) loss (2) 47 56 22 108 36 16 9 Net (benefit) expense $ (189 ) $ (198 ) $ 134 $ 198 $ 205 $ 123 $ 53 $ 71 $ 57 $ 56 $ 44 $ 12 (1) The U.S. plans exclude nonqualified pension plans, for which the net expense was $41 million in 2009, $38 million in 2008 and $45 million in 2007. (2) The 2009 curtailment loss in the non-U.S pension plans includes $18 million gain reflecting the sale of Citigroups Nikko operations. See Note 3 to the Consolidated Financial Statements for further discussion of the sale of Nikko operations. The estimated net actuarial loss, prior service cost and net transition obligation that wi

RESTRUCTURING

RESTRUCTURING
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
RESTRUCTURING	10. RESTRUCTURINGIn the fourth quarter of 2008, Citigroup recorded a pretax restructuring expense of $1.581 billion related to the implementation of a Company-wide re-engineering plan. For the year ended December 31, 2009, Citigroup recorded a pretax net restructuring release of $110 million composed of a gross charge of $86 million and a credit of $196 million due to changes in estimates. The charges related to the 2008 Re-engineering Projects Restructuring Initiative are reported in Restructuring on the Companys Consolidated Statement of Income and are recorded in each segment.In 2007, the Company completed a review of its structural expense base in a Company-wide effort to create a more streamlined organization, reduce expense growth, and provide investment funds for future growth initiatives. As a result of this review, a pretax restructuring charge of $1.4 billion was recorded in Corporate/Other during the first quarter of 2007. Additional net charges of $151 million were recognized in subsequent quarters throughout 2007, and net releases of $31 million and $3 million in 2008 and 2009, respectively, due to changes in estimates. The charges related to the 2007 Structural Expense Review Restructuring Initiative are reported in Restructuring on the Companys Consolidated Statement of Income.The primary goals of the 2008 Re-engineering Projects Restructuring Initiative and the 2007 Structural Expense Review Restructuring Initiative were: eliminate layers of management/improve workforce management; consolidate certain back-office, middle-office and corporate functions; increase the use of shared services; expand centralized procurement; and continue to rationalize operational spending on technology. The implementation of these restructuring initiatives also caused certain related premises and equipment assets to become redundant. The remaining depreciable lives of these assets were shortened, and accelerated depreciation charges began in the second quarter of 2007 and fourth quarter of 2008 for the 2007 and 2008 initiatives, respectively, in addition to normal scheduled depreciation. The following tables detail the Companys restructuring reserves. 2008 Re-engineering Projects Restructuring Charges Severance Contract Asset Employee termination write- termination Total In millions of dollars ASC 712 (1) ASC 420 (2) costs downs (3) cost Citigroup (4) Total Citigroup (pretax) Original restructuring charge $ 1,254 $ 79 $ 55 $ 123 $ 19 $ 1,530 Utilization $ (114 ) $ (3 ) $ (2 ) $ (100 ) $ $ (219 ) Balance at December 31, 2008 $ 1,140 $ 76 $ 53 $ 23 $ 19 $ 1,311 Additional charge 24 29 23 10 86 Foreign exchange 14 3 (11 ) (1 ) 5 Utilization (882 ) (102 ) (33 ) (14 ) (6 ) (1,037 ) Changes in estimates (175 ) (3 ) (5 ) (5 ) (8 ) (196 ) Balance at December 31, 2009 $ 121 $ $

INCOME TAXES

INCOME TAXES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
INCOME TAXES	11. INCOME TAXES In millions of dollars 2009 2008 2007 Current Federal $ (1,711 ) $ (4,582 ) $ (2,260 ) Foreign 3,101 4,762 3,566 State (414 ) 29 75 Total current income taxes $ 976 $ 209 $ 1,381 Deferred Federal $ (6,892 ) $ (16,583 ) $ (2,109 ) Foreign (182 ) (1,794 ) (1,042 ) State (635 ) (2,158 ) (776 ) Total deferred income taxes $ (7,709 ) $ (20,535 ) $ (3,927 ) Provision (benefit) for income tax on continuing operations before noncontrolling interests (1) $ (6,733 ) $ (20,326 ) $ (2,546 ) Provision (benefit) for income taxes on discontinued operations (106 ) (79 ) 344 Provision (benefit) for income taxes on cumulative effect of accounting changes (109 ) Income tax expense (benefit) reported in stockholders equity related to: Foreign currency translation (415 ) (2,116 ) 565 Securities available-for-sale 2,765 (5,468 ) (759 ) Employee stock plans 1,351 449 (410 ) Cash flow hedges 1,165 (1,354 ) (1,705 ) Pension liability adjustments (513 ) (918 ) 426 Tax on exchange offer booked to retained earnings 3,523 Income taxes before noncontrolling interests $ 1,037 $ (29,812 ) $ (4,194 ) (1) Includes the effect of securities transactions and OTTI losses resulting in a provision (benefit) of $698 million and $(1,017) million in 2009, $238 million and $(959) million in 2008 and $409 million and $0 in 2007, respectively. The reconciliation of the federal statutory income tax rate to the Companys effective income tax rate applicable to income from continuing operations (before noncontrolling interests and the cumulative effect of accounting changes) for the years ended December 31 was as follows: 2009 2008 2007 Federal statutory rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 8.4 2.7 (70.4 ) Foreign income tax rate differential 26.0 1.2 (217.2 ) Audit settlements (1) 4.4 Goodwill 0.5 (2.2 ) 0.6 Tax advantaged investments 11.8 1.8 (100.9 ) Other, net 0.2 0.3 (41.2 ) Effective income tax rate (2) 86.3 % 38.8 % (394.1 )% (1) For 2009, relates to the conclusion of the audit of various issues in the Companys 2003 2005 U.S. federal tax audit and a tax benefit relating to the release of tax reserves on interchange fees. (2) The Company recorded an income tax benefit for 2007. The effective tax rate (benefit) of (394)% primarily resulted from pretax losses in the Company's ICG and N.A. Regional Consumer Banking businesses (the U.S. is a higher tax rate jurisdiction). In addition, the tax benefits of permanent differences, including the tax benefit for not providing U.S. income taxes on the earnings of certain foreign subsidiaries that are indefinitely invested, favorably impacted the Company's

EARNINGS PER SHARE

EARNINGS PER SHARE
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
EARNINGS PER SHARE	12. EARNINGS PER SHAREThe following is a reconciliation of the income and share data used in the basic and diluted earnings-per-share computations for the years ended December 31: In millions, except per-share amounts 2009 2008 (1) 2007 (1) Income (loss) before attribution of noncontrolling interests $ (1,066 ) $ (32,029 ) $ 3,192 Noncontrolling interests 95 (343 ) 283 Net income (loss) from continuing operations (for EPS purposes) $ (1,161 ) $ (31,686 ) $ 2,909 Income (loss) from discontinued operations, net of taxes (445 ) 4,002 708 Citigroups net income (loss) $ (1,606 ) $ (27,684 ) $ 3,617 Impact of the public and private preferred stock exchange offers (3,242 ) Preferred dividends (2,988 ) (1,695 ) (36 ) Impact of the conversion price reset related to the $12.5 billion convertible preferred stock private issuance (1,285 ) Preferred stock Series H discount accretion (123 ) (37 ) Net income (loss)available to common shareholders $ (9,244 ) $ (29,416 ) $ 3,581 Dividends allocated to participating securities, net of forfeitures (2 ) (221 ) (261 ) Net income (loss)allocated to common shareholders for basic EPS (2) $ (9,246 ) $ (29,637 ) $ 3,320 Effect of dilutive securities 540 877 Net income (loss)allocated to common shareholders for diluted EPS (2) $ (8,706 ) $ (28,760 ) $ 3,320 Weighted-average common shares outstanding applicable to basic EPS 11,568.3 5,265.4 4,905.8 Effect of dilutive securities Convertible securities 312.2 503.2 Options 0.2 0.3 18.2 TDECs 218.3 Adjusted weighted-average common shares outstanding applicable to diluted EPS (3) 12,099.0 5,768.9 4,924.0 Basic earnings per share (3) Income (loss) from continuing operations $ (0.76 ) $ (6.39 ) $ 0.53 Discontinued operations (0.04 ) 0.76 0.15 Net income (loss) $ (0.80 ) $ (5.63 ) $ 0.68 Diluted earnings per share (3) Income (loss) from continuing operations $ (0.76 ) $ (6.39 ) $ 0.53 Discontinued operations (0.04 ) 0.76 0.14 Net income (loss) $ (0.80 ) $ (5.63 ) $ 0.67 (1) The Company adopted ASC 260-10-45 to 65 (FSP EITF 03-6-1) on January 1, 2009. All prior periods have been restated to conform to the current periods presentation. (2) Due to the net loss available to common shareholders in 2009 and 2008, loss available to common stockholders for basic EPS was used to calculate diluted EPS. Adding back the effect of dilutive securities would result in anti-dilution. (3) Due to the net loss available to common shareholders in 2009 and 2008, basic shares were used to calculate diluted EPS. Adding dilutive securities to the denominator would result in anti-dilution. During 2009, 2008 and 2007, weighted-average options to purchase 157.9 million, 156.1 millio

FEDERAL FUNDS, SECURITIES BORRO

FEDERAL FUNDS, SECURITIES BORROWED, LOANED, AND SUBJECT TO REPURCHASE AGREEMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
FEDERAL FUNDS, SECURITIES BORROWED, LOANED, AND SUBJECT TO REPURCHASE AGREEMENTS	13. FEDERAL FUNDS/SECURITIES BORROWED, LOANED, AND SUBJECT TO REPURCHASEAGREEMENTSFederal funds sold and securities borrowed or purchased under agreements to resell, at their respective fair values, consisted of the following: In millions of dollars at December 31, 2009 2008 Federal funds sold $ 4 $ Securities purchased under agreements to resell 105,165 78,701 Deposits paid for securities borrowed 116,853 105,432 Total $ 222,022 $ 184,133 Federal funds purchased and securities loaned or sold under agreements to repurchase, at their respective fair values, consisted of the following: In millions of dollars at December 31, 2009 2008 Federal funds purchased $ 2,877 $ 5,755 Securities sold under agreements to repurchase 125,561 177,585 Deposits received for securities loaned 25,843 21,953 Total $ 154,281 $ 205,293 The resale and repurchase agreements represent collateralized financing transactions used to generate net interest income and facilitate trading activity. These instruments are collateralized principally by government and government-agency securities and generally have terms ranging from overnight to up to a year.It is the Companys policy to take possession of the underlying collateral, monitor its market value relative to the amounts due under the agreements and, when necessary, require prompt transfer of additional collateral or reduction in the balance in order to maintain contractual margin protection. In the event of counterparty default, the financing agreement provides the Company with the right to liquidate the collateral held.The majority of the resale and repurchase agreements are recorded at fair value. The remaining portion is carried at the amount of cash initially advanced or received, plus accrued interest, as specified in the respective agreements. Resale agreements and repurchase agreements are reported net by counterparty, when applicable. Excluding the impact of the allowable netting, resale agreements totaled $166.0 billion and $114.0 billion at December 31, 2009 and 2008, respectively. A majority of the deposits paid for securities borrowed and deposits received for securities loaned are recorded at the amount of cash advanced or received and are collateralized principally by government and government-agency securities and corporate debt and equity securities. The remaining portion is recorded at fair value as the Company elected fair value options for certain securities borrowed and loaned portfolios. With respect to securities loaned, the Company receives cash collateral in an amount generally in excess of the market value of securities loaned. The Company monitors the market value of securities borrowed and securities loaned daily, and additional collateral is obtained as necessary. Securities borrowed and securities loaned are reported net by counterparty, when applicable.

BROKERAGE RECEIVABLES AND BROKE

BROKERAGE RECEIVABLES AND BROKERAGE PAYABLES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
BROKERAGE RECEIVABLES AND BROKERAGE PAYABLES	14. BROKERAGE RECEIVABLES AND BROKERAGE PAYABLESThe Company has receivables and payables for financial instruments purchased from and sold to brokers, dealers and customers. The Company is exposed to risk of loss from the inability of brokers, dealers or customers to pay for purchases or to deliver the financial instruments sold, in which case the Company would have to sell or purchase the financial instruments at prevailing market prices. Credit risk is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transaction.The Company seeks to protect itself from the risks associated with customer activities by requiring customers to maintain margin collateral in compliance with regulatory and internal guidelines. Margin levels are monitored daily, and customers deposit additional collateral as required. Where customers cannot meet collateral requirements, the Company will liquidate sufficient underlying financial instruments to bring the customer into compliance with the required margin level.Exposure to credit risk is impacted by market volatility, which may impair the ability of clients to satisfy their obligations to the Company. Credit limits are established and closely monitored for customers and brokers and dealers engaged in forwards, futures and other transactions deemed to be credit sensitive.Brokerage receivables and brokerage payables, which arise in the normal course of business, consisted of the following at December 31: In millions of dollars 2009 2008 Receivables from customers $ 24,721 $ 26,297 Receivables from brokers, dealers, and clearing organizations 8,913 17,981 Total brokerage receivables $ 33,634 $ 44,278 Payables to customers $ 41,262 $ 54,167 Payables to brokers, dealers, and clearing organizations 19,584 16,749 Total brokerage payables $ 60,846 $ 70,916

TRADING ACCOUNT ASSETS AND LIAB

TRADING ACCOUNT ASSETS AND LIABILITIES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
TRADING ACCOUNT ASSETS AND LIABILITIES	15. TRADING ACCOUNT ASSETS AND LIABILITIESTrading account assets and Trading account liabilities, at fair value, consisted of the following at December 31: In millions of dollars 2009 2008 Trading account assets Mortgage-backed securities U.S. government sponsored agency guaranteed $ 20,638 $ 32,981 Prime 1,156 1,416 Alt-A 1,229 913 Subprime 9,734 14,552 Non-U.S. residential 2,368 2,447 Commercial 3,455 2,501 Total mortgage-backed securities $ 38,580 $ 54,810 U.S. Treasury and federal agencies U.S. Treasuries $ 28,938 $ 7,370 Agency and direct obligations 2,041 4,017 Total U.S. Treasury and federal agencies $ 30,979 $ 11,387 State and municipal securities $ 7,147 $ 9,510 Foreign government securities 72,769 57,422 Corporate 51,985 54,654 Derivatives (1) 58,879 115,289 Equity securities 46,221 48,503 Other debt securities 36,213 26,060 Total trading account assets $ 342,773 $ 377,635 Trading account liabilities Securities sold, not yet purchased $ 73,406 $ 50,693 Derivatives (1) 64,106 115,107 Total trading account liabilities $ 137,512 $ 165,800 (1) Presented net, pursuant to master netting agreements. See Note 24 to the Consolidated Financial Statements for a discussion regarding the accounting and reporting for derivatives.

INVESTMENTS

INVESTMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
INVESTMENTS	16. INVESTMENTS In millions of dollars 2009 2008 Securities available-for-sale $ 239,599 $ 175,189 Debt securities held-to-maturity (1) 51,527 64,459 Non-marketable equity securities carried at fair value (2) 6,830 9,262 Non-marketable equity securities carried at cost (3) 8,163 7,110 Total investments $ 306,119 $ 256,020 (1) Recorded at amortized cost. (2) Unrealized gains and losses for non-marketable equity securities carried at fair value are recognized in earnings. (3) Non-marketable equity securities carried at cost primarily consist of shares issued by the Federal Reserve Bank, Federal Home Loan Bank, foreign central banks and various clearing houses of which Citigroup is a member. Securities Available-for-SaleThe amortized cost and fair value of securities available-for-sale at December 31, 2009 and December 31, 2008 were as follows: 2009 2008 (1) Gross Gross Gross Gross Amortized unrealized unrealized Amortized unrealized unrealized In millions of dollars cost gains losses Fair value cost gains losses Fair value Debt securities available-for-sale Mortgage-backed securities U.S. government-agency guaranteed $ 20,625 $ 339 $ 50 $ 20,914 $ 23,527 $ 261 $ 67 $ 23,721 Prime 7,291 119 932 6,478 8,475 3 2,965 5,513 Alt-A 538 93 4 627 54 9 45 Subprime 1 1 38 21 17 Non-U.S. residential 258 3 255 185 2 187 Commercial 883 10 100 793 519 134 385 Total mortgage-backed securities $ 29,596 $ 561 $ 1,089 $ 29,068 $ 32,798 $ 266 $ 3,196 $ 29,868 U.S. Treasury and federal agency securities U.S. Treasury 26,857 36 331 26,562 3,465 125 3,590 Agency obligations 27,714 46 208 27,552 20,237 215 77 20,375 Total U.S. Treasury and federal agency securities $ 54,571 $ 82 $ 539 $ 54,114 $ 23,702 $ 340 $ 77 $ 23,965 State and municipal 16,677 147 1,214 15,610 18,156 38 4,370 13,824 Foreign government 101,987 860 328 102,519 79,505 945 408 80,042 Corporate 20,024 435 146 20,313 10,646 65 680 10,031 Other debt securities 12,268 71 170 12,169 11,784 36 224 11,596 Total debt securities available-for-sale $ 235,123 $ 2,156 $ 3,486 $ 233,793 $ 176,591 $ 1,690 $ 8,955 $ 169,326 Marketable equity securities available-for-sale $ 4,089 $ 1,929 $ 212 $ 5,806 $ 5,768 $ 554 $ 459 $ 5,863 Total securities available-for-sale $ 239,212 $ 4,085 $ 3,698 $ 239,599 $ 182,359 $ 2,244 $ 9,414 $ 175,189 (1) Reclassified to conform to the current

LOANS

LOANS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
LOANS	17. LOANS In millions of dollars at year end 2009 (1) 2008 (1) Consumer In U.S. offices Mortgage and real estate (2) $ 183,842 $ 219,482 Installment and other 58,099 64,319 Cards 28,951 44,418 Commercial and industrial 5,640 7,041 Lease financing 11 31 $ 276,543 $ 335,291 In offices outside the U.S. Mortgage and real estate (2) $ 47,297 $ 44,382 Installment, revolving credit and other 42,805 41,272 Cards 41,493 42,586 Commercial and industrial 14,780 16,814 Lease financing 331 304 $ 146,706 $ 145,358 Total consumer loans $ 423,249 $ 480,649 Net unearned income 808 738 Consumer loans, net of unearned income $ 424,057 $ 481,387 Corporate In U.S. offices Commercial and industrial $ 15,614 $ 26,447 Loans to financial institutions 6,947 10,200 Mortgage and real estate (2) 22,560 28,043 Installment, revolving credit and other (3) 17,737 22,050 Lease financing 1,297 1,476 $ 64,155 $ 88,216 In offices outside the U.S. Commercial and industrial $ 68,467 $ 79,809 Installment and other 9,683 17,441 Mortgage and real estate (2) 9,779 11,375 Loans to financial institutions 15,113 18,413 Lease financing 1,295 1,850 Governments and official institutions 1,229 385 $ 105,566 $ 129,273 Total corporate loans $ 169,721 $ 217,489 Net unearned income (4) (2,274 ) (4,660 ) Corporate loans, net of unearned income $ 167,447 $ 212,829 (1) The Company classifies consumer and corporate loans based on the segment and sub-segment that manages the loans. See Note 1 to the Consolidated Financial Statements. (2) Loans secured primarily by real estate. (3) Includes loans not otherwise separately categorized. (4) The unearned income in 2008 includes loans that were transferred in that period from the held-for-sale category to the held-for-investment category at a discount to par. Included in the previous loan table are lending products whose terms may give rise to additional credit issues. Credit cards with below-market introductory interest rates, multiple loans supported by the same collateral (e.g., home equity loans), and interest-only loans are examples of such products. However, these products are not material to Citigroups financial position and are closely managed via credit controls that mitigate their additional inherent risk. Impaired loans are those where Citigroup believes it is probable that it will not collect all amounts due according to the original contractual terms of the loan. Impaired loans include corporate non-accrual loans as well as smaller-balance homogeneous loans whose terms have been modified due to the borrowers financial difficulties and Citigroup granted a concession to the borrower. Such modifications may include interest rate reductions and/or principal forgiveness. Valuation allowances for these loans are estimated considering all available eviden

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
ALLOWANCE FOR CREDIT LOSSES	18. ALLOWANCE FOR CREDIT LOSSES In millions of dollars 2009 2008 (1) 2007 (1) Allowance for loan losses at beginning of year $ 29,616 $ 16,117 $ 8,940 Gross credit losses (32,784 ) (20,760 ) (11,864 ) Gross recoveries 2,043 1,749 1,938 Net credit (losses) recoveries (NCLs) $ (30,741 ) $ (19,011 ) $ (9,926 ) NCLs $ 30,741 $ 19,011 $ 9,926 Net reserve builds (releases) 5,741 11,297 6,550 Net specific reserve builds (releases) 2,278 3,366 356 Total provision for credit losses $ 38,760 $ 33,674 $ 16,832 Other, net (2) (1,602 ) (1,164 ) 271 Allowance for loan losses at end of year $ 36,033 $ 29,616 $ 16,117 Allowance for credit losses on unfunded lending commitments at beginning of year (3) $ 887 $ 1,250 $ 1,100 Provision for unfunded lending commitments 244 (363 ) 150 Allowance for credit losses on unfunded lending commitments at end of year (3) $ 1,157 $ 887 $ 1,250 Total allowance for loans, leases, and unfunded lending commitments $ 37,190 $ 30,503 $ 17,367 (1) Reclassified to conform to the current periods presentation. (2) 2009 primarily includes reductions to the loan loss reserve of approximately $543 million related to securitizations, approximately $402 million related to the sale or transfers to held-for-sale of U.S. Real Estate Lending Loans, and $562 million related to the transfer of the U.K. Cards portfolio to held-for-sale. 2008 primarily includes reductions to the loan loss reserve of approximately $800 million related to FX translation, $102 million related to securitizations, $244 million for the sale of the German retail banking operation, $156 million for the sale of CitiCapital, partially offset by additions of $106 million related to the Cuscatln and Bank of Overseas Chinese acquisitions. 2007 primarily includes reductions to the loan loss reserve of $475 million related to securitizations and transfers to loans held-for-sale, and reductions of $83 million related to the transfer of the U.K. CitiFinancial portfolio to held-for-sale, offset by additions of $610 million related to the acquisitions of Egg, Nikko Cordial, Grupo Cuscatln and Grupo Financiero Uno. (3) Represents additional credit loss reserves for unfunded corporate lending commitments and letters of credit recorded in Other liabilities on the Consolidated Balance Sheet.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
GOODWILL AND INTANGIBLE ASSETS	19. GOODWILL AND INTANGIBLE ASSETS GoodwillThe changes in Goodwill during 2008 and 2009 were as follows: In millions of dollars Balance at December 31, 2007 $ 41,053 Sale of German retail bank $ (1,047 ) Sale of CitiCapital (221 ) Sale of Citigroup Global Services Limited (85 ) Purchase accounting adjustmentsBISYS (184 ) Purchase of the remaining shares of Nikko Cordialnet of purchase accounting adjustments 287 Acquisition of Legg Mason Private Portfolio Group 98 Foreign exchange translation (3,116 ) Impairment of goodwill (9,568 ) Smaller acquisitions, purchase accounting adjustments and other (85 ) Balance at December 31, 2008 $ 27,132 Sale of Smith Barney $ (1,146 ) Sale of Nikko Cordial Securities (558 ) Sale of Nikko Asset Management (433 ) Foreign exchange translation 547 Smaller acquisitions/divestitures, purchase accounting adjustments and other (150 ) Balance at December 31, 2009 $ 25,392 The changes in Goodwill by segment during 2008 and 2009 were as follows: Regional Consumer Institutional Corporate/ In millions of dollars Banking Clients Group Citi Holdings Other Total Balance at December 31, 2007 (1) $ 19,751 $ 9,288 $ 12,014 $ $ 41,053 Goodwill acquired during 2008 $ 88 $ 108 $ 1,492 $ $ 1,688 Goodwill disposed of during 2008 (1,378 ) (1,378 ) Goodwill impaired during 2008 (6,547 ) (3,021 ) (9,568 ) Other (1) (4,006 ) 775 (1,432 ) (4,663 ) Balance at December 31, 2008 (1) $ 9,286 $ 10,171 $ 7,675 $ $ 27,132 Goodwill acquired during 2009 $ $ $ $ $ Goodwill disposed of during 2009 (39 ) (2,248 ) (2,287 ) Other (1) 307 225 15 547 Balance at December 31, 2009 $ 9,593 $ 10,357 $ 5,442 $ $ 25,392 (1) Other changes in Goodwill primarily reflect foreign exchange effects on non-dollar-denominated goodwill, as well as purchase accounting adjustments. Goodwill impairment testing is performed at a level below the business segments (referred to as a reporting unit). The changes in the organizational structure in 2009 resulted in the creation of new reporting segments. As a result, commencing with the second quarter of 2009, the Company has identified new reporting units as required under ASC 350, IntangiblesGoodwill and Other. Goodwill affected by the reorganization has been reassigned from 10 reporting units to nine, using a fair value approach. During 2009, goodwill was allocated to disposals and tested for impairment under the new reporting units. The Company performed goodwill impairment testing for all reporting units as of April 1, 2009 and July 1, 2009. Additionally, the Company performed an interim goodwill impairment test for the Local Consumer LendingCards reporting unit as of November 30, 2009. No goodwill was written off due to impairment in 2009. During 2008, the share prices of financial stocks continued to be very volatile and were

DEBT

DEBT
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
DEBT	20. DEBT Short-Term BorrowingsShort-term borrowings consist of commercial paper and other borrowings with weighted average interest rates as follows: 2009 2008 In millions of dollars Weighted Weighted at December 31, Balance average Balance average Commercial paper Citigroup Funding Inc. $ 9,846 0.33 % $ 28,654 1.66 % Other Citigroup subsidiaries 377 0.51 471 2.02 $10,223 $ 29,125 Other borrowings 58,656 0.66 % 97,566 2.40 % Total $68,879 $ 126,691 Borrowings under bank lines of credit may be at interest rates based on LIBOR, CD rates, the prime rate, or bids submitted by the banks. Citigroup pays commitment fees for its lines of credit.Some of Citigroups non-bank subsidiaries have credit facilities with Citigroups subsidiary depository institutions, including Citibank, N.A. Borrowings under these facilities must be secured in accordance with Section 23A of the Federal Reserve Act.CGMHI has committed financing with an unaffiliated bank. At December 31, 2009, CGMHI had drawn down the full $125 million available, which is guaranteed by Citigroup. It also has substantial borrowing agreements consisting of facilities that CGMHI has been advised are available, but where no contractual lending obligation exists. These arrangements are reviewed on an ongoing basis to ensure flexibility in meeting CGMHIs short-term requirements. Long-Term Debt Balances Weighted In millions of dollars average at December 31, coupon Maturities 2009 2008 Citigroup parent company Senior notes (1) 4.11 % 2010-2098 $ 149,751 $ 138,014 Subordinated notes 5.25 2010-2036 28,708 30,216 Junior subordinated notes relating to trust preferred securities 7.19 2031-2067 19,345 24,060 Other Citigroup subsidiaries Senior notes (2) 2.12 2010-2043 93,909 105,620 Subsidiary subordinated notes 1.63 2010-2038 3,060 3,395 Secured debt 1.79 2010-2017 325 290 Citigroup Global Markets Holdings Inc. Senior notes 1.94 2010-2097 13,422 20,619 Subordinated notes 4 Citigroup Funding Inc. (3) Senior notes 3.21 2010-2051 55,499 37,375 Total $ 364,019 $ 359,593 Senior notes $ 312,581 $ 301,628 Subordinated notes 31,768 33,615 Junior subordinated notes relating to trust preferred securities 19,345 24,060 Other 325 290 Total $ 364,019 $ 359,593 (1) Includes $250 million of notes maturing in 2098. (2) At December 31, 2009 and 2008, collateralized advances from the Federal Home Loan Bank are $24.1 billion and $67.4 billion, respectively. (3) Includes Principal-Protected Trust Securities (Safety First Trust Securities) with carrying values of $528 million issued by Safety First Trust Series 2006-1, 2007-1, 2007-2, 2007-3, 2007-4, 2008-1, 2008-2, 2008-3, 2

PREFERRED STOCK AND STOCKHOLDER

PREFERRED STOCK AND STOCKHOLDERS' EQUITY
	1/1/2009 - 12/31/2009 USD / shares
Notes to Consolidated Financial Statements
PREFERRED STOCK AND STOCKHOLDERS' EQUITY	21. PREFERRED STOCK AND STOCKHOLDERS EQUITYThe following table summarizes the Companys Preferred Stock outstanding at December 31, 2009 and December 31, 2008: Carrying value in millions of dollars Redemption Convertible to price per approximate depositary Number number of share / of Citigroup Dividend preference depositary common shares at December 31, December 31, rate share shares December 31, 2009 2009 2008 Series A (1) 7.000 % $ 50 $ $ $ 6,880 Series B (1) 7.000 % 50 3,000 Series C (1) 7.000 % 50 1,000 Series D (1) 7.000 % 50 750 Series E (2) 8.400 % 1,000 121,254 121 6,000 Series F (3) 8.500 % 25 2,863,369 71 2,040 Series H (4) 5.000 % 1,000,000 23,727 Series I (5) 8.000 % 1,000,000 19,513 Series J (1) 7.000 % 50 450 Series K (1) 7.000 % 50 400 Series L1 (1) 7.000 % 50 5 Series N (1) 7.000 % 50 15 Series T (6) 6.500 % 50 453,981 672,959 23 3,169 Series AA (7) 8.125 % 25 3,870,330 97 3,715 672,959 $312 $70,664 (1) Issued on January 23, 2008 as depositary shares, each representing a 1/1,000th interest in a share of the corresponding series of Non-Cumulative Convertible Preferred Stock. Under the terms of pre-existing conversion price reset agreements with holders of Series A, B, C, D, J, K, L1 and N (the Old Preferred Stock), on February 17, 2009, Citigroup exchanged shares of new preferred stock Series A1, B1, C1, D1, J1, K1, L2 and N1 (the New Preferred Stock) for an equal number of shares of Old Preferred Stock. All shares of the Old Preferred Stock were canceled. During the third quarter of 2009, pursuant to the Exchange Offers, Citigroup converted the entire notional value of the New Preferred Stock to common stock. (2) Issued on April 28, 2008 as depositary shares, each representing a 1/25th interest in a share of the corresponding series of Fixed Rate/Floating Rate Non-Cumulative Preferred Stock. Redeemable in whole or in part on or after April 30, 2018. Dividends are payable semi-annually for the first 10 years until April 30, 2018 at $42.70 per depositary share and thereafter quarterly at a floating rate when, as and if declared by the Companys Board of Directors. During the third quarter of 2009, pursuant to the Exchange Offers, Citigroup converted $5,879 million notional value of Series E Preferred Stock to common stock. (3) Issued on May 13, 2008 and May 28, 2008 as depositary shares, each representing a 1/1,000th interest in a share of the corresponding series of Non-Cumulative Preferred Stock. Redeemable in whole or in part on or after June 15, 2013. The dividend of $0.53 per depositary share is payable quarterly when, as and if declared by the Companys Board of Directors. During the third quarter of 2009, pursuant to the Exchange Offers, Citigroup converted $1,9

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	22. CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Changes in each component of Accumulated Other Comprehensive Income (Loss) for the three-year period ended December 31, 2009 are as follows: Foreign currency Net unrealized translation Accumulated gains (losses) adjustment, Pension other oninvestment net of Cash flow liability comprehensive In millions of dollars securities hedges hedges adjustments income (loss) Balance, January 1, 2007 $ 1,092 $ (2,796 ) $ (61 ) $ (1,786 ) $ (3,551 ) Change in net unrealized gains (losses) on investment securities, net of taxes 138 138 Less: Reclassification adjustment for net gains included in net income, net of taxes (759 ) (759 ) Foreign currency translation adjustment, net of taxes (1) 2,024 2,024 Cash flow hedges, net of taxes (2) (3,102 ) (3,102 ) Pension liability adjustment, net of taxes (3) 590 590 Change $ (621 ) $ 2,024 $ (3,102 ) $ 590 $ (1,109 ) Balance, December 31, 2007 $ 471 $ (772 ) $ (3,163 ) $ (1,196 ) $ (4,660 ) Change in net unrealized gains (losses) on investment securities, net of taxes (11,422 ) (11,422 ) Less: Reclassification adjustment for net losses included in net income, net of taxes 1,304 1,304 Foreign currency translation adjustment, net of taxes (1) (6,972 ) (6,972 ) Cash flow hedges, net of taxes (2) (2,026 ) (2,026 ) Pension liability adjustment, net of taxes (3) (1,419 ) (1,419 ) Change $ (10,118 ) $ (6,972 ) $ (2,026 ) $ (1,419 ) $ (20,535 ) Balance, December 31, 2008 $ (9,647 ) $ (7,744 ) $ (5,189 ) $ (2,615 ) $ (25,195 ) Cumulative effect of accounting change (ASC 320-10-35/FSP FAS 115-2 and FAS 124-2) (413 ) (413 ) Balance, January 1, 2009 $ (10,060 ) $ (7,744 ) $ (5,189 ) $ (2,615 ) $ (25,608 ) Change in net unrealized gains (losses) on investment securities, net of taxes 5,268 5,268 Less: Reclassification adjustment for net losses included in net income, net of taxes 445 445 Foreign currency translation adjustment, net of taxes (1) (203 ) (203 ) Cash flow hedges, net of taxes (2) 2,007 2,007 Pension liability adjustment, net of taxes (3) (846 ) (846 ) Change $ 5,713 $ (203 ) $ 2,007 $ (846 ) $ 6,671 Balance, December 31, 2009 (4) $ (4,347 ) $ (7,947 ) $ (3,182 ) $ (3,461 ) $ (18,937 ) (1) Reflects, among other items: the movements in the British pound, Euro, Japanese yen, Korean won, Polish zloty and Mexican peso against the U.S. dollar, and changes in related tax effects

SECURITIZATIONS AND VARIABLE IN

SECURITIZATIONS AND VARIABLE INTEREST ENTITIES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
SECURITIZATIONS AND VARIABLE INTEREST ENTITIES	23. SECURITIZATIONS AND VARIABLE INTEREST ENTITIES OverviewCitigroup and its subsidiaries are involved with several types of off-balance-sheet arrangements, including special purpose entities (SPEs). See Note 1 to the Consolidated Financial Statements for a discussion of impending accounting changes to the accounting for transfers and servicing of financial assets and Consolidation of Variable Interest Entities, including the elimination of Qualifying SPEs. Uses of SPEsAn SPE is an entity designed to fulfill a specific limited need of the company that organized it.The principal uses of SPEs are to obtain liquidity and favorable capital treatment by securitizing certain of Citigroups financial assets, to assist clients in securitizing their financial assets, and to create investment products for clients. SPEs may be organized in many legal forms including trusts, partnerships or corporations. In a securitization, the company transferring assets to an SPE converts those assets into cash before they would have been realized in the normal course of business, through the SPEs issuance of debt and equity instruments, certificates, commercial paper and other notes of indebtedness, which are recorded on the balance sheet of the SPE and not reflected on the transferring companys balance sheet, assuming applicable accounting requirements are satisfied. Investors usually have recourse to the assets in the SPE and often benefit from other credit enhancements, such as a collateral account or over-collateralization in the form of excess assets in the SPE, or from a liquidity facility, such as a line of credit, liquidity put option or asset purchase agreement. The SPE can typically obtain a more favorable credit rating from rating agencies than the transferor could obtain for its own debt issuances, resulting in less expensive financing costs. The SPE may also enter into derivative contracts in order to convert the yield or currency of the underlying assets to match the needs of the SPE investors or to limit or change the credit risk of the SPE. Citigroup may be the provider of certain credit enhancements as well as the counterparty to any related derivative contracts.SPEs may be Qualifying SPEs (QSPEs) or Variable Interest Entities (VIEs) or neither. Qualifying SPEsQSPEs are a special class of SPEs that have significant limitations on the types of assets and derivative instruments they may own or enter into and the types and extent of activities and decision-making they may engage in. Generally, QSPEs are passive entities designed to purchase assets and pass through the cash flows from those assets to the investors in the QSPE. QSPEs may not actively manage their assets through discretionary sales and are generally limited to making decisions inherent in servicing activities and issuance of liabilities. QSPEs are generally exempt from consolidation by the transferor of assets to the QSPE and any investor or counterparty. Variable interest entitiesVIEs are entities that have either a total equity investment that is insufficient to permit the entity to finance its activities without additional subordinated financial support or whose equity i

DERIVATIVES ACTIVITIES

DERIVATIVES ACTIVITIES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
DERIVATIVES ACTIVITIES	24. DERIVATIVES ACTIVITIESIn the ordinary course of business, Citigroup enters into various types of derivative transactions. These derivative transactions include: Futures and forward contracts which are commitments to buy or sell at a future date a financial instrument, commodity or currency at a contracted price and may be settled in cash or through delivery. Swap contracts which are commitments to settle in cash at a future date or dates that may range from a few days to a number of years, based on differentials between specified financial indices, as applied to a notional principal amount. Option contracts which give the purchaser, for a fee, the right, but not the obligation, to buy or sell within a limited time a financial instrument, commodity or currency at a contracted price that may also be settled in cash, based on differentials between specified indices or prices. Citigroup enters into these derivative contracts relating to interest rate, foreign currency, commodity, and other market/credit risks for the following reasons: Trading PurposesCustomer Needs: Citigroup offers its customers derivatives in connection with their risk-management actions to transfer, modify or reduce their interest rate, foreign exchange and other market/ credit risks or for their own trading purposes. As part of this process, Citigroup considers the customers suitability for the risk involved and the business purpose for the transaction. Citigroup also manages its derivative-risk positions through offsetting trade activities, controls focused on price verification, and daily reporting of positions to senior managers. Trading PurposesOwn Account: Citigroup trades derivatives for its own account and as an active market maker. Trading limits and price verification controls are key aspects of this activity. Hedging: Citigroup uses derivatives in connection with its risk-management activities to hedge certain risks or reposition the risk profile of the Company. For example, Citigroup may issue fixed-rate long-term debt and then enter into a receive-fixed, pay-variable-rate interest rate swap with the same tenor and notional amount to convert the interest payments to a net variable-rate basis. This strategy is the most common form of an interest rate hedge, as it minimizes interest cost in certain yield curve environments. Derivatives are also used to manage risks inherent in specific groups of on-balance-sheet assets and liabilities, including investments, corporate and consumer loans, deposit liabilities, as well as other interest-sensitive assets and liabilities. In addition, foreign-exchange contracts are used to hedge non-U.S.-dollar-denominated debt, foreign-currency-denominated available-for-sale securities, net capital exposures and foreign-exchange transactions. Derivatives may expose Citigroup to market, credit or liquidity risks in excess of the amounts recorded on the Consolidated Balance Sheet. Market risk on a derivative product is the exposure created by potential fluctuations in interest rates, foreign-exchange rates and other factors and is a function of the type of product, the volume of transactions, the tenor and terms

CONCENTRATIONS OF CREDIT RISK

CONCENTRATIONS OF CREDIT RISK
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
CONCENTRATIONS OF CREDIT RISK	25. CONCENTRATIONS OF CREDIT RISKConcentrations of credit risk exist when changes in economic, industry or geographic factors similarly affect groups of counterparties whose aggregate credit exposure is material in relation to Citigroups total credit exposure. Although Citigroups portfolio of financial instruments is broadly diversified along industry, product, and geographic lines, material transactions are completed with other financial institutions, particularly in the securities trading, derivatives, and foreign exchange businesses.In connection with the Companys efforts to maintain a diversified portfolio, the Company limits its exposure to any one geographic region, country or individual creditor and monitors this exposure on a continuous basis. At December 31, 2009, Citigroups most significant concentration of credit risk was with the U.S. government and its agencies. The Companys exposure, which primarily results from trading assets and investments issued by the U.S. government and its agencies, amounted to $126.6 billion and $93.7 billion at December 31, 2009 and 2008, respectively. The Mexican and Japanese governments and their agencies are the next largest exposures, which are rated investment grade by both Moodys and SP. The Companys exposure to Mexico amounted to $41.4 billion and $35.0 billion at December 31, 2009 and 2008, respectively, and is composed of investment securities, loans and trading assets. The Companys exposure to Japan amounted to $31.8 billion and $29.1 billion at December 31, 2009 and 2008, respectively, and is composed of investment securities, loans and trading assets.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
FAIR VALUE MEASUREMENT	26. FAIR VALUE MEASUREMENTEffective January 1, 2007, the Company adopted SFAS 157 (now ASC 820-10), which defines fair value, establishes a consistent framework for measuring fair value and expands disclosure requirements about fair value measurements. Among other things, the standard requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In addition, it precludes the use of block discounts when measuring the fair value of instruments traded in an active market; such discounts were previously applied to large holdings of publicly traded equity securities. It also requires recognition of trade-date gains related to certain derivative transactions whose fair value has been determined using unobservable market inputs. This guidance supersedes the guidance in Emerging Issues Task Force Issue No. 02-3, Issues Involved in Accounting for Derivative Contracts Held for Trading Purposes and Contracts Involved in Energy Trading and Risk Management Activities (EITF Issue 02-3), which prohibited the recognition of trade-date gains for such derivative transactions when determining the fair value of instruments not traded in an active market.As a result of the adoption of the standard, the Company made amendments to the techniques used in measuring the fair value of derivative and other positions. These amendments change the way that the probability of default of a counterparty is factored into the valuation of derivative positions, include for the first time the impact of Citigroups own credit risk on derivatives and other liabilities measured at fair value, and also eliminate the portfolio servicing adjustment that is no longer necessary. Fair Value HierarchyASC 820-10 also specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Companys market assumptions. These two types of inputs have created the following fair-value hierarchy: Level 1: Quoted prices for identical instruments in active markets. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. This hierarchy requires the use of observable market data when available. The Company considers relevant and observable market prices in its valuations where possible. The frequency of transactions, the size of the bid-ask spread and the amount of adjustment necessary when comparing similar transactions are all factors in determining the liquidity of markets and the relevance of observed prices in those markets. 223 Determination of Fair ValueFor assets and liabilities carried at fair value, the Company measures such value using the procedures set out below, irrespective

FAIR VALUE ELECTIONS

FAIR VALUE ELECTIONS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
FAIR VALUE ELECTIONS	27. FAIR VALUE ELECTIONSThe Company may elect to report most financial instruments and certain other items at fair value on an instrument-by-instrument basis with changes in fair value reported in earnings. After the initial adoption, the election is made upon the acquisition of an eligible financial asset, financial liability or firm commitment or when certain specified reconsideration events occur. The fair-value election may not be revoked once an election is made.Additionally, the transition provisions of ASC 825-10 (SFAS 159) permit a one-time election for existing positions at the adoption date with a cumulative-effect adjustment included in opening retained earnings and future changes in fair value reported in earnings. The Company also has elected to adopt the fair value accounting provisions for certain assets and liabilities prospectively. Hybrid financial instruments, such as structured notes containing embedded derivatives that otherwise would require bifurcation, as well as certain interest-only instruments, may be accounted for at fair value if the Company makes an irrevocable election to do so on an instrument-by-instrument basis. The changes in fair value are recorded in current earnings. Additional discussion regarding the applicable areas in which fair value elections were made is presented in Note 26 to the Consolidated Financial Statements.All servicing rights must now be recognized initially at fair value. At its initial adoption, the standard permitted a one-time irrevocable election to re-measure each class of servicing rights at fair value, with the changes in fair value recorded in current earnings. The classes of servicing rights are identified based on the availability of market inputs used in determining their fair values and the methods for managing their risks. The Company has elected fair-value accounting for its mortgage and student loan classes of servicing rights. The impact of adopting this standard was not material. See Note 23 to the Consolidated Financial Statements for further discussions regarding the accounting and reporting of mortgage servicing rights. 234 The following table presents, as of December 31, 2009 and 2008, the fair value of those positions selected for fair-value accounting, as well as the changes in fair value for the years ended December 31, 2009 and 2008: Changes in Changes in fair value fair value Fair value at Fair value at gains gains December 31, December 31, (losses) (losses) In millions of dollars 2009 2008 2009 2008 (1) Assets Federal funds sold and securities borrowed or purchased under agreements to resell Selected portfolios of securities purchased under agreements to resell, securities borrowed (2) $ 87,837 $ 70,305 $ (864 ) $ 2,438 Trading account assets Legg Mason convertible preferred equity securities originally classified as available-for-sale $ $ $ $ (13 ) Selected letters of credit hedged by credit default swaps or participation notes 30 64 Certain credit products 14,338 16,254

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
FAIR VALUE OF FINANCIAL INSTRUMENTS	28. FAIR VALUE OF FINANCIAL INSTRUMENTS Estimated Fair Value of Financial InstrumentsThe table below presents the carrying value and fair value of Citigroups financial instruments. The disclosure excludes leases, affiliate investments, pension and benefit obligations and insurance policy claim reserves. In addition, contract-holder fund amounts exclude certain insurance contracts. Also as required, the disclosure excludes the effect of taxes, any premium or discount that could result from offering for sale at one time the entire holdings of a particular instrument, excess fair value associated with deposits with no fixed maturity and other expenses that would be incurred in a market transaction. In addition, the table excludes the values of non-financial assets and liabilities, as well as a wide range of franchise, relationship and intangible values (but includes mortgage servicing rights), which are integral to a full assessment of Citigroups financial position and the value of its net assets. The fair value represents managements best estimates based on a range of methodologies and assumptions. The carrying value of short-term financial instruments not accounted for at fair value, as well as receivables and payables arising in the ordinary course of business, approximates fair value because of the relatively short period of time between their origination and expected realization. Quoted market prices are used when available for investments and for both trading and end-user derivatives, as well as for liabilities, such as long-term debt, with quoted prices. For performing loans not accounted for at fair value, contractual cash flows are discounted at quoted secondary market rates or estimated market rates if available. Otherwise, sales of comparable loan portfolios or current market origination rates for loans with similar terms and risk characteristics are used. For loans with doubt as to collectability, expected cash flows are discounted using an appropriate rate considering the time of collection and the premium for the uncertainty of the cash flows. This method of estimating fair value does not incorporate the exit-price concept of fair value prescribed by ASC 820-10 (SFAS No. 157). The value of collateral is also considered. For liabilities such as long-term debt not accounted for at fair value and without quoted market prices, market borrowing rates of interest are used to discount contractual cash flows. 2009 2008 Carrying Estimated Carrying Estimated In billions of dollars at year end value fair value value fair value Assets Investments $306.1 $307.6 $256.0 $251.9 Federal funds sold and securities borrowed or purchased under agreements to resell 222.0 222.0 184.1 184.1 Trading account assets 342.8 342.8 377.6 377.6 Loans (1) 552.5 542.8 660.9 642.7 Other financial assets (2) 290.9 290.9 316.6 316.6 2009 2008 Carrying Estimated Carrying Estimated In billions of dollars at year end value fair value value fair value Liabilities Deposits $835.9 $834.5

PLEDGED ASSETS, COLLATERAL, COM

PLEDGED ASSETS, COLLATERAL, COMMITMENTS AND GUARANTEES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
PLEDGED ASSETS, COLLATERAL, COMMITMENTS AND GUARANTEES	29. PLEDGED ASSETS, COLLATERAL, COMMITMENTS AND GUARANTEES Pledged AssetsAt December 31, 2009 and 2008, the approximate fair values of securities sold under agreements to repurchase and other assets pledged, excluding the impact of allowable netting, were as follows: In millions of dollars 2009 2008 For securities sold under agreements to repurchase $ 237,707 $ 237,055 As collateral for securities borrowed for approximately equivalent value 44,095 81,740 As collateral on bank loans 188,160 144,982 To clearing organizations or segregated under securities laws and regulations 21,385 41,312 For securities loaned 36,767 51,158 Other 30,000 52,576 Total $ 558,114 $ 608,823 In addition, included in cash and due from banks at December 31, 2009 and 2008 are $11.2 billion and $11.7 billion, respectively, of cash segregated under federal and other brokerage regulations or deposited with clearing organizations. At December 31, 2009 and 2008, the Company had $1.9 billion and $3.1 billion, respectively, of outstanding letters of credit from third-party banks to satisfy various collateral and margin requirements. CollateralAt December 31, 2009 and 2008, the approximate market value of collateral received by the Company that may be sold or repledged by the Company, excluding amounts netted was $346.2 billion and $340.2 billion, respectively. This collateral was received in connection with resale agreements, securities borrowings and loans, derivative transactions and margined broker loans. At December 31, 2009 and 2008, a substantial portion of the collateral received by the Company had been sold or repledged in connection with repurchase agreements, securities sold, not yet purchased, securities borrowings and loans, pledges to clearing organizations, segregation requirements under securities laws and regulations, derivative transactions and bank loans. In addition, at December 31, 2009 and 2008, the Company had pledged $253 billion and $236 billion, respectively, of collateral that may not be sold or repledged by the secured parties. Lease CommitmentsRental expense (principally for offices and computer equipment) was $2.0 billion, $2.7 billion and $2.3 billion for the years ended December 31, 2009, 2008 and 2007, respectively. Future minimum annual rentals under noncancelable leases, net of sublease income, are as follows: In millions of dollars 2010 $ 1,247 2011 1,110 2012 1,007 2013 900 2014 851 Thereafter 2,770 Total $ 7,885 GuaranteesThe Company provides a variety of guarantees and indemnifications to Citigroup customers to enhance their credit standing and enable them to complete a wide variety of business transactions. For certain contracts meeting the definition of a guarantee, the guarantor must recognize, at inception, a liability for the fair value of the obligation undertaken in issuing the guarantee.In addition, the guarantor must disclose the maximum potential amount of future payments the guarantor could be required to make under the guarantee, if there were a total default by the guarante

CONTINGENCIES

CONTINGENCIES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
CONTINGENCIES	30. CONTINGENCIES As described in Legal Proceedings, Citigroup and its affiliates and subsidiaries and current and former officers, directors and employees have been named, and routinely are named in the ordinary course of business, as defendants in, or as parties to, various legal actions and proceedings. In accordance with ASC 450 (formerly SFAS 5), Citigroup establishes reserves for litigation and regulatory matters when those matters present loss contingencies that both are probable and can be reasonably estimated. In view of the inherent unpredictability of litigation and regulatory matters, particularly where the damages sought are substantial or indeterminate, the investigations or proceedings are in the early stages, or the matters involve novel legal theories or a large number of parties, Citigroup cannot state with certainty the timing or ultimate resolution of litigations and regulatory matters, and the actual costs of resolving litigations and regulatory matters may be substantially higher or lower than the amounts reserved for those matters. Subject to the foregoing, it is the opinion of Citigroups management, based on current knowledge and after taking into account available insurance coverage and its current legal reserves, that the eventual outcome of such matters, including the matters described in Legal Proceedings, would not be likely to have a material adverse effect on the consolidated financial condition of Citi. Nonetheless, given the substantial or indeterminate amounts sought in certain of these matters, and the inherent unpredictability of such matters, an adverse outcome in certain of these matters could, from time to time, have a material adverse effect on Citis consolidated results of operations or cash flows in particular quarterly or annual periods.

CITIBANK, N.A. STOCKHOLDER'S EQ

CITIBANK, N.A. STOCKHOLDER'S EQUITY
	1/1/2009 - 12/31/2009 USD / shares
Notes to Consolidated Financial Statements
CITIBANK, N.A.STOCKHOLDER'S EQUITY	31. CITIBANK, N.A. STOCKHOLDERS EQUITY Statement of Changes in Stockholders Equity Year ended December 31 In millions of dollars, except shares 2009 2008 2007 Common stock ($20 par value) Balance, beginning of yearshares: 37,534,553 in 2009, 2008 and 2007 $ 751 $ 751 $ 751 Balance, end of yearshares: 37,534,553 in 2009, 2008 and 2007 $ 751 $ 751 $ 751 Surplus Balance, beginning of year $ 74,767 $ 69,135 $ 43,753 Capital contribution from parent company 32,992 6,177 25,267 Employee benefit plans 163 183 85 Other (1) 1 (728 ) 30 Balance, end of year $ 107,923 $ 74,767 $ 69,135 Retained earnings Balance, beginning of year $ 21,735 $ 31,915 $ 30,358 Adjustment to opening balance, net of taxes (2)(3) 402 (96 ) Adjusted balance, beginning of period $ 22,137 $ 31,915 $ 30,262 Net income (loss) (2,794 ) (6,215 ) 2,304 Dividends paid (3 ) (41 ) (651 ) Other (1) 117 (3,924 ) Balance, end of year $ 19,457 $ 21,735 $ 31,915 Accumulated other comprehensive income (loss) Balance, beginning of year $ (15,895 ) $ (2,495 ) $ (1,709 ) Adjustment to opening balance, net of taxes (2)(4) (402 ) (1 ) Adjusted balance, beginning of period $ (16,297 ) $ (2,495 ) $ (1,710 ) Net change in unrealized gains (losses) on investment securities available-for-sale, net of taxes 3,675 (6,746 ) (1,142 ) Net change in foreign currency translation adjustment, net of taxes 709 (5,651 ) 2,143 Net change in cash flow hedges, net of taxes 880 (1,162 ) (1,954 ) Pension liability adjustment, net of taxes (499 ) 159 168 Net change in accumulated other comprehensive income (loss) $ 4,765 $ (13,400 ) $ (785 ) Balance, end of year $ (11,532 ) $ (15,895 ) $ (2,495 ) Total Citibank stockholders equity $ 116,599 $ 81,358 $ 99,306 Noncontrolling interest Balance, beginning of period $ 1,082 $ 1,266 $ 1,057 Initial origination of a noncontrolling interest 284 15 Transactions between noncontrolling interest and the related consolidating subsidiary (130 ) Net income attributable to noncontrolling interest shareholders 74 101 126 Dividends paid to noncontrolling interest shareholders (17 ) (120 ) (54 ) Accumulated other comprehensive incomeNet change in unrealized gains and losses on investment securities, net of tax 5 3 (10 ) Accumulated other comprehensive incomeNet change in FX translation adjustment, net of tax 23 (173 ) 140 All other (27 ) 5 (8 ) Net change in noncontrolling interest $ 212 $ (184 ) $ 209 Balance, end of period $ 1,294 $ 1,082 $ 1,266 Total equity $ 117,893 $ 82,440 $ 100,572 Comprehensive income (loss) Net income (loss) before attribution of noncontrolling interest $ (2,720 ) $ (6,114 ) $ 2,

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
SUBSEQUENT EVENTS	32. SUBSEQUENT EVENTS LQIF Acquisition On January 31, 2010 Citigroup elected to exercise its option to acquire approximately 8.5% of LQIF for approximately $500 million. The acquisition of the additional shares is expected to close on April 30, 2010 and will increase Citigroups ownership in LQIF to approximately 41.5%. Citigroup retains an option to increase its ownership an additional 8.5% of LQIF in 2010 for an additional $500 million. Venezuelan Bolivar Devaluation The Venezuelan government enacted currency restrictions in 2003 that have restricted Citigroups ability to obtain foreign currency in Venezuela at the official foreign currency rate. Citigroup uses the official rate to remeasure the foreign currency transactions in the financial statements of our Venezuelan subsidiaries, which have U.S. dollar functional currencies, into U.S. dollars. At December 31, 2009, Citigroup had net monetary assets denominated in bolivars and subject to the official rate of approximately $290 million. On January 8, 2010, the Venezuelan government announced the devaluation of the official foreign currency exchange rate from 2.15 bolivars per dollar to 4.3 bolivars per dollar and the creation of a dual, subsidized exchange rate of 2.6 bolivars per dollar for the importation of certain essential goods. The devaluation in the rate is expected to result in a pretax loss to the Company of approximately $170 million in the first quarter of 2010. Additionally, revenue and net operating profit in U.S. dollar terms will be reduced on an ongoing basis. The Company has evaluated subsequent events through February 26, 2010, which is the date its Consolidated Financial Statements were issued.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS SCHEDULES
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS SCHEDULES	33. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS SCHEDULES These condensed Consolidating Financial Statements schedules are presented for purposes of additional analysis but should be considered in relation to the Consolidated Financial Statements of Citigroup taken as a whole. Citigroup Parent Company The holding company, Citigroup Inc. Citigroup Global Markets Holdings Inc. (CGMHI) Citigroup guarantees various debt obligations of CGMHI as well as all of the outstanding debt obligations under CGMHIs publicly issued debt. Citigroup Funding Inc. (CFI) CFI is a first-tier subsidiary of Citigroup, which issues commercial paper, medium-term notes and structured equity-linked and credit-linked notes, all of which are guaranteed by Citigroup. CitiFinancial Credit Company (CCC) An indirect wholly owned subsidiary of Citigroup. CCC is a wholly owned subsidiary of Associates. Citigroup has issued a full and unconditional guarantee of the outstanding indebtedness of CCC. Associates First Capital Corporation (Associates) A wholly owned subsidiary of Citigroup. Citigroup has issued a full and unconditional guarantee of the outstanding long-term debt securities and commercial paper of Associates. In addition, Citigroup guaranteed various debt obligations of Citigroup Finance Canada Inc. (CFCI), a wholly owned subsidiary of Associates. CFCI continues to issue debt in the Canadian market supported by a Citigroup guarantee. Associates is the immediate parent company of CCC. Other Citigroup Subsidiaries Includes all other subsidiaries of Citigroup, intercompany eliminations, and income/loss from discontinued operations. Consolidating Adjustments Includes Citigroup parent company elimination of distributed and undistributed income of subsidiaries, investment in subsidiaries and the elimination of CCC, which is included in the Associates column. 248 Condensed Consolidating Statements of Income Year ended December 31, 2009 Other Citigroup subsidiaries, eliminations and income Citigroup from parent discontinued Consolidating Citigroup In millions of dollars company CGMHI CFI CCC Associates operations adjustments consolidated Revenues Dividends from subsidiary banks and bank holding companies $ 1,049 $ $ $ $ $ $ (1,049 ) $ Interest revenue 299 7,447 1 6,150 7,049 61,839 (6,150 ) 76,635 Interest revenueintercompany 2,387 2,806 4,132 69 421 (9,746 ) (69 ) Interest expense 9,354 2,585 1,911 86 376 13,495 (86 ) 27,721 Interest expenseintercompany (758 ) 2,390 823 2,243 1,572 (4,027 ) (2,243 ) Net interest revenue $ (5,910 ) $ 5,278 $ 1,399 $ 3,890 $ 5,522 $ 42,625 $ (3,890

SELECTED QUARTERLY FINANCIAL DA

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Consolidated Financial Statements
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	34. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) 2009 (1) 2008 (1) In millions of dollars, except per share amounts Fourth Third Second First Fourth Third Second First Revenues, net of interest expense $ 5,405 $ 20,390 $ 29,969 $ 24,521 $ 5,646 $ 16,258 $ 17,538 $ 12,157 Operating expenses 12,314 11,824 11,999 11,685 24,642 14,007 15,214 15,377 Provisions for credit losses and for benefits and claims 8,184 9,095 12,676 10,307 12,695 9,067 7,100 5,852 Income (loss) from continuing operations before income taxes $ (15,093 ) $ (529 ) $ 5,294 $ 2,529 $ (31,691 ) $ (6,816 ) $ (4,776 ) $ (9,072 ) Income taxes (7,353 ) (1,122 ) 907 835 (10,698 ) (3,295 ) (2,447 ) (3,886 ) Income (loss) from continuing operations $ (7,740 ) $ 593 $ 4,387 $ 1,694 $ (20,993 ) $ (3,521 ) $ (2,329 ) $ (5,186 ) Income from discontinued operations, net of taxes 232 (418 ) (142 ) (117 ) 3,424 613 (94 ) 59 Net income (loss) before attribution of noncontrolling interests $ (7,508 ) $ 175 $ 4,245 $ 1,577 $ (17,569 ) $ (2,908 ) $ (2,423 ) $ (5,127 ) Net income (loss) attributable to noncontrolling interests 71 74 (34 ) (16 ) (306 ) (93 ) 72 (16 ) Citigroups net income (loss) $ (7,579 ) $ 101 $ 4,279 $ 1,593 $ (17,263 ) $ (2,815 ) $ (2,495 ) $ (5,111 ) Earnings per share (2) (3) Basic Income from continuing operations (0.34 ) (0.23 ) 0.51 (0.16 ) $ (4.04 ) $ (0.73 ) $ (0.53 ) $ (1.05 ) Net income (0.33 ) (0.27 ) 0.49 (0.18 ) (3.40 ) (0.61 ) (0.55 ) (1.03 ) Diluted Income from continuing operations (0.34 ) (0.23 ) 0.51 (0.16 ) (4.04 ) (0.73 ) (0.53 ) (1.05 ) Net income (0.33 ) (0.27 ) 0.49 (0.18 ) $ (3.40 ) $ (0.61 ) $ (0.55 ) $ (1.03 ) Common stock price per share High 5.00 5.23 4.02 7.46 $ 23.00 $ 21.12 $ 26.81 $ 29.69 Low 3.20 2.59 2.68 1.02 3.77 14.03 16.76 18.62 Close 3.31 4.84 2.97 2.53 6.71 20.51 16.76 21.42 Dividends per share of common stock 0.01 $ 0.16 $ 0.32 $ 0.32 $ 0.32 This Note to the Consolidated Financial Statements is unaudited due to the Companys individual quarterly results not being subject to an audit. (1) The revenue and (after-tax impact) of the Companys correction ofa CVA error in prior periods, which reduced revenues and net income in the fourth quarter of 2009 by $840 million ($518 million), respectively, related to the quarters in 2008 and 2009 as follows: $7 million ($4 million), $58 million ($36 million), $97 million ($60 million), $44 million ($27 million), for t

Document and Entity Information

Document and Entity Information (USD $)
In Billions, except Share data	12 Months Ended Dec. 31, 2009	Jan. 31, 2010	Jun. 30, 2009
Document and Entity Information
Entity Registrant Name	CITIGROUP INC
Entity Central Index Key	0000831001
Document Type	10-K
Document Period End Date	2009-12-31
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			16.3
Entity Common Stock, Shares Outstanding		28,476,886,087