Citibank 2008 Annual Report Download - page 225
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Condensed Consolidating Statement of Income
Year ended December 31, 2006
In millions of dollars
Citigroup
parent
company CGMHI CFI CCC Associates
Other
Citigroup
subsidiaries,
eliminations
and income
from
discontinued
operations
Consolidating
adjustments
Citigroup
consolidated
Revenues
Dividends from subsidiary banks and bank holding
companies $17,327 $ — $ — $ — $ — $ — $(17,327) $ —
Interest revenue 453 23,757 — 5,989 7,073 62,328 (5,989) 93,611
Interest revenue—intercompany 4,213 608 3,298 88 419 (8,538) (88) —
Interest expense 6,041 18,787 2,153 190 722 27,980 (190) 55,683
Interest expense—intercompany (53) 2,940 890 1,710 2,472 (6,249) (1,710) —
Net interest revenue $ (1,322) $ 2,638 $ 255 $4,177 $4,298 $32,059 $ (4,177) $37,928
Commissions and fees $ — $ 9,539 $ — $ 66 $ 156 $ 9,155 $ (66) $18,850
Commissions and fees—intercompany — 274 — 43 42 (316) (43) —
Principal transactions 44 4,319 (285) — 15 3,897 — 7,990
Principal transactions—intercompany (14) (295) 152 — — 157 — —
Other income 126 3,879 46 458 618 16,890 (458) 21,559
Other income—intercompany (120) 802 (18) 9 18 (682) (9) —
Total non-interest revenues $ 36 $18,518 $ (105) $ 576 $ 849 $29,101 $ (576) $48,399
Total revenues, net of interest expense $16,041 $21,156 $ 150 $4,753 $5,147 $61,160 $(22,080) $86,327
Provisions for credit losses and for benefits and
claims $ — $ 70 $ — $1,209 $1,395 $ 6,072 $ (1,209) $ 7,537
Expenses
Compensation and benefits $ 93 $11,240 $ — $ 759 $ 967 $17,452 $ (759) $29,752
Compensation and benefits—intercompany 7 1 — 137 138 (146) (137) —
Other expense 174 3,661 1 528 690 16,023 (528) 20,549
Other expense—intercompany 155 1,627 44 198 266 (2,092) (198) —
Total operating expenses $ 429 $16,529 $ 45 $1,622 $2,061 $31,237 $ (1,622) $50,301
Income from continuing operations before taxes,
minority interest, and equity in undistributed
income of subsidiaries $15,612 $ 4,557 $ 105 $1,922 $1,691 $23,851 $(19,249) $28,489
Income taxes (benefits) (757) 1,344 41 687 545 6,576 (687) 7,749
Minority interest, net of taxes — — — — — 289 — 289
Equities in undistributed income of subsidiaries 5,169 — — — — — (5,169) —
Income from continuing operations $21,538 $ 3,213 $ 64 $1,235 $1,146 $16,986 $(23,731) $20,451
Income from discontinued operations, net of
taxes — 89 — — — 998 — 1,087
Net income $21,538 $ 3,302 $ 64 $1,235 $1,146 $17,984 $(23,731) $21,538
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