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Citibank 2009 Annual Report Download - page 129

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119

FINANCIAL STATEMENTS AND NOTES TABLE OF CONTENTS

CONSOLIDATED FINANCIAL STATEMENTS

Consolidated Statement of Income—

For the Years Ended December 31, 2009, 2008 and 2007 120

Consolidated Balance Sheet—

December 31, 2009 and 2008 121

Consolidated Statement of Changes in Stockholders’ Equity—

For the Years Ended December 31, 2009, 2008 and 2007 122

Consolidated Statement of Cash Flows—

For the Years Ended December 31, 2009, 2008 and 2007 124

Citibank Consolidated Balance Sheet—

Citibank, N.A. and Subsidiaries—December 31, 2009 and 2008 125

NOTES TO CONSOLIDATED FINANCIAL

STATEMENTS

Note 1 – Summary of Significant Accounting Policies 126

Note 2 – Business Developments 143

Note 3 – Discontinued Operations 146

Note 4 – Business Segments 148

Note 5 – Interest Revenue and Expense 149

Note 6 – Commissions and Fees 149

Note 7 – Principal Transactions 150

Note 8 – Incentive Plans 150

Note 9 – Retirement Benefits 155

Note 10 – Restructuring 164

Note 11 – Income Taxes 166

Note 12 – Earnings per Share 171

Note 13 – Federal Funds/Securities Borrowed, Loaned, and Subject to

Repurchase Agreements 172

Note 14 – Brokerage Receivables and Brokerage Payables 173

Note 15 – Trading Account Assets and Liabilities 173

Note 16 – Investments 174

Note 17 – Loans 183

Note 18 – Allowance for Credit Losses 185

Note 19 – Goodwill and Intangible Assets 186

Note 20 – Debt 189

Note 21 – Preferred Stock and Stockholders’ Equity 192

Note 22 – Changes in Accumulated Other Comprehensive Income (Loss) 194

Note 23 – Securitizations and Variable Interest Entities 195

Note 24 – Derivatives Activities 215

Note 25 – Concentrations of Credit Risk 223

Note 26 – Fair Value Measurement 223

Note 27 – Fair Value Elections 234

Note 28 – Fair Value of Financial Instruments 239

Note 29 – Pledged Assets, Collateral, Commitments and Guarantees 240

Note 30 – Contingencies 246

Note 31 – Citibank, N.A. Stockholder’s Equity 247

Note 32 – Subsequent Event 248

Note 33 – Condensed Consolidating Financial Statement Schedules 248

Note 34 – Selected Quarterly Financial Data (Unaudited) 257