Citibank 2005 Annual Report Download - page 30

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CITIGROUP NET INCOME——PRODUCT VIEW
In millions of dollars
2005 20041 % CHANGE
SEGMENT INCOME
GLOBAL CONSUMER
U.S. Cards $2,754 $3,562 (23)%
U.S. Retail Distribution 1,752 2,019 (13)
U.S. Consumer Lending 1,938 1,664 16
U.S. Commercial Business 729 765 (5)
Total U.S. Consumer2 $7,173 $8,010 (10)%
International Cards $1,373 $1,137 21%
International Consumer Finance 642 586 10
International Retail Banking 2,083 2,157 (3)
Total International Consumer $4,098 $3,880 6%
Other3 $(374) $97 NM
Total Global Consumer $10,897 $11,987 (9)%
CORPORATE AND INVESTMENT BANKING
Capital Markets and Banking $5,327 $5,395 (1)%
Transaction Services 1,135 1,045 9
Other4, 5 433 (4,398) NM
Total Corporate and Investment Banking $6,895 $2,042 NM
GLOBAL WEALTH MANAGEMENT
Smith Barney $871 $891 (2)%
Private Bank6 373 318 17
Total Global Wealth Management $1,244 $1,209 3%
CITIGROUP ALTERNATIVE INVESTMENTS $1,437 $768 87%
CORPORATE OTHER $(667) $48 NM
INCOME FROM CONTINUING OPERATIONS $19,806 $16,054 23%
INCOME FROM DISCONTINUED OPERATIONS7 $4,832 992 NM
CUMULATIVE EFFECT OF ACCOUNTING CHANGE8 $(49) - -
TOTAL NET INCOME $24,589 $17,046 44%
Financial Highlights
1
Reclassified to conform to the current period’s presentation.
2 U.S. disclosure includes Canada and Puerto Rico.
3
2004 includes a $378 million after-tax gain related to the sale of The Samba Financial Group (Samba).
4
2004 includes a $378 million after-tax gain related to the sale of Samba and a $4.95 billion after-tax charge related
to the WorldCom settlement and increase in Litigation Reserves.
5 2005 includes a $375 million after-tax release of WorldCom Settlement and Litigation Reserve.
6
2004 includes a $244 million after-tax charge related to closing the company’s Private Bank operations in Japan.
7
Includes $2.1 billion gain on the sale of the Travelers Life and Annuities business and $2.1 billion gain on the sale of
the Asset Management business.
8
Accounting change in 2005 of ($49) million reflects the adoption of FIN 47.
NM——Not Meaningful