Citibank 2010 Annual Report Download - page 291

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30. CITIBANK, N.A. STOCKHOLDER’S EQUITY
Statement of Changes in Stockholder’s Equity
Year ended December 31
In millions of dollars, except shares 2010 2009 2008
Common stock ($20 par value)
Balance, beginning of year—shares: 37,534,553 in 2010, 2009 and 2008 $ 751 $ 751 $ 751
Balance, end of year—shares:
37,534,553 in 2010, 2009 and 2008 $ 751 $ 751 $ 751
Surplus
Balance, beginning of year $107,923 $ 74,767 $ 69,135
Capital contribution from parent company 858 32,992 6,177
Employee benefit plans 648 163 183
Other (1) (10) 1 (728)
Balance, end of year $109,419 $107,923 $ 74,767
Retained earnings
Balance, beginning of year $ 19,457 $ 21,735 $ 31,915
Adjustment to opening balance, net of taxes (2)(3) (288) 402 —
Adjusted balance, beginning of period $ 19,169 $ 22,137 $ 31,915
Citibank’s net income (loss) 7,904 (2,794) (6,215)
Dividends paid (4) 9(3) (41)
Other (1) —117 (3,924)
Balance, end of year $ 27,082 $ 19,457 $ 21,735
Accumulated other comprehensive income (loss)
Balance, beginning of year $ (11,532) $ (15,895) $ (2,495)
Adjustment to opening balance, net of taxes (3) —(402) —
Adjusted balance, beginning of period $ (11,532) $ (16,297) $ (2,495)
Net change in unrealized gains (losses) on investment securities available-for-sale, net of taxes 1,162 3,675 (6,746)
Net change in foreign currency translation adjustment, net of taxes 29 709 (5,651)
Net change in cash flow hedges, net of taxes 473 880 (1,162)
Pension liability adjustment, net of taxes (294) (499) 159
Net change in Accumulated other comprehensive income (loss) $ 1,370 $ 4,765 $(13,400)
Balance, end of year $ (10,162) $ (11,532) $(15,895)
Total Citibank stockholder’s equity $127,090 $116,599 $ 81,358
Noncontrolling interest
Balance, beginning of period $ 1,294 $ 1,082 $ 1,266
Initial origination of a noncontrolling interest (73) 284 —
Transactions between the noncontrolling interest and the related consolidating subsidiary —(130) —
Transactions between Citibank and the noncontrolling interest shareholder (1) — —
Net income attributable to noncontrolling interest shareholders 35 74 101
Dividends paid to noncontrolling interest shareholders (40) (17) (120)
Accumulated other comprehensive income—Net change in unrealized gains and losses on investment securities, net of tax 15 3
Accumulated other comprehensive income—Net change in FX translation adjustment, net of tax (27) 23 (173)
All other (319) (27) 5
Net change in noncontrolling interest $ (424) $ 212 $ (184)
Balance, end of period $ 870 $ 1,294 $ 1,082
Total equity $127,960 $117,893 $ 82,440
Comprehensive income (loss)
Net income (loss) before attribution of noncontrolling interest $ 7,939 $ (2,720) $ (6,114)
Net change in Accumulated other comprehensive income (loss) 1,344 4,793 (13,570)
Total comprehensive income (loss) $ 9,283 $ 2,073 $(19,684)
Comprehensive income (loss) attributable to the noncontrolling interest 9102 (69)
Comprehensive income attributable to Citibank $ 9,274 $ 1,971 $(19,615)
(1) Represents the accounting for the transfers of assets and liabilities between Citibank, N.A. and other affiliates under the common control of Citigroup.
(2) The adjustment to the opening balance for Retained earnings in 2010 represents the cumulative effect of initially adopting ASC 810, Consolidation (SFAS 167) and ASU 2010-11, Scope Exception Related to Embedded
Credit Derivatives. See Note 1 to the Consolidated Financial Statements.
(3) The adjustment to the opening balances for Retained earnings and Accumulated other comprehensive income (loss) in 2009 represents the cumulative effect of initially adopting ASC 320-10-35-34 (FSP FAS 115-2
and FAS 124-2). See Note 1 to the Consolidated Financial Statements.
(4) Dividends in 2010 represent a reversal of dividends accrued on forfeitures of previously issued but unvested employee stock awards related to employees who have left Citigroup.