Citibank 2008 Annual Report Download - page 123

CONSOLIDATED BALANCE SHEET Citigroup Inc. and Subsidiaries
December 31
In millions of dollars, except shares 2008 2007
Assets
Cash and due from banks (including segregated cash and other deposits) $ 29,253 $ 38,206
Deposits with banks 170,331 69,366
Federal funds sold and securities borrowed or purchased under agreements to resell (including $70,305 and $84,305 as of December 31, 2008 and
December 31, 2007, respectively, at fair value) 184,133 274,066
Brokerage receivables 44,278 57,359
Trading account assets (including $148,703 and $157,221 pledged to creditors at December 31, 2008 and December 31, 2007, respectively) 377,635 538,984
Investments (including $14,875 and $21,449 pledged to creditors at December 31, 2008 and December 31, 2007, respectively) 256,020 215,008
Loans, net of unearned income
Consumer (including $36 at fair value as of December 31, 2008) 519,673 592,307
Corporate (including $2,696 and $3,727 at December 31, 2008 and December 31, 2007, respectively, at fair value) 174,543 185,686
Loans, net of unearned income $ 694,216 $ 777,993
Allowance for loan losses (29,616) (16,117)
Total loans, net $ 664,600 $ 761,876
Goodwill 27,132 41,053
Intangible assets (other than MSRs) 14,159 14,307
Mortgage servicing rights (MSRs) (including $5,657 and $8,380 at December 31, 2008 and December 31, 2007, respectively, at fair value) 5,657 8,380
Other assets (including $5,722 and $9,802 as of December 31, 2008 and December 31, 2007 respectively, at fair value) 165,272 168,875
Total assets $1,938,470 $2,187,480
Liabilities
Non-interest-bearing deposits in U.S. offices $ 60,070 $ 40,859
Interest-bearing deposits in U.S. offices (including $1,335 and $1,337 at December 31, 2008 and December 31, 2007, respectively, at fair value) 229,906 225,198
Non-interest-bearing deposits in offices outside the U.S. 37,412 43,335
Interest-bearing deposits in offices outside the U.S. (including $1,271 and $2,261 at December 31, 2008 and December 31, 2007, respectively, at
fair value) 446,797 516,838
Total deposits $ 774,185 $ 826,230
Federal funds purchased and securities loaned or sold under agreements to repurchase (including $138,866 and $199,854 as of December 31, 2008
and December 31, 2007, respectively, at fair value) 205,293 304,243
Brokerage payables 70,916 84,951
Trading account liabilities 167,478 182,082
Short-term borrowings (including $17,607 and $13,487 at December 31, 2008 and December 31, 2007, respectively, at fair value) 126,691 146,488
Long-term debt (including $27,263 and $79,312 at December 31, 2008 and December 31, 2007, respectively, at fair value) 359,593 427,112
Other liabilities (including $3,696 and $1,568 as of December 31, 2008 and December 31, 2007, respectively, at fair value) 92,684 102,927
Total liabilities $1,796,840 $2,074,033
Stockholders’ equity
Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 828,573 at December 31, 2008, at aggregate liquidation value $ 70,664 $—
Common stock ($0.01 par value; authorized shares: 15 billion), issued shares: 5,671,743,807 at December 31, 2008 and 5,477,416,086 at
December 31, 2007 57 55
Additional paid-in capital 19,165 18,007
Retained earnings (1) 86,521 121,769
Treasury stock, at cost: 2008—221,675,719 shares and 2007—482,834,568 shares (9,582) (21,724)
Accumulated other comprehensive income (loss) (25,195) (4,660)
Total stockholders’ equity $ 141,630 $ 113,447
Total liabilities and stockholders’ equity $1,938,470 $2,187,480
(1) Citigroup’s opening Retained earnings balance has been reduced by $151 million to reflect a prior period adjustment to Goodwill. This reduction adjusts Goodwill to reflect a portion of the losses incurred in January
2002, related to the sale of an Argentinean subsidiary of Banamex, Bansud, that was recorded as an adjustment to the purchase price of Banamex. There is no tax benefit and there is no income statement impact from
this adjustment.
See Notes to the Consolidated Financial Statements.
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