Citibank 2010 Annual Report Download - page 92

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Non-Accrual Loans and Assets (continued)
The table below summarizes Citigroup’s other real estate owned (OREO) assets. This represents the carrying value of all property acquired by foreclosure or other
legal proceedings when Citi has taken possession of the collateral.
In millions of dollars 2010 2009 2008 2007 2006
OREO
Citicorp $ 826 $ 874 $ 371 $ 541 $ 342
Citi Holdings 863 615 1,022 679 358
Corporate/Other 14 11 40 8 1
Total OREO $ 1,703 $ 1,500 $ 1,433 $ 1,228 $ 701
North America $ 1,440 $ 1,294 $ 1,349 $ 1,168 $ 640
EMEA 161 121 66 40 35
Latin America 47 45 16 17 19
Asia 55 40 2 3 7
$ 1,703 $ 1,500 $ 1,433 $ 1,228 $ 701
Other repossessed assets $ 28 $ 73 $ 78 $ 99 $ 75
Non-accrual assets—Total Citigroup 2010 2009 2008 2007 2006
Corporate non-accrual loans $ 8,610 $13,479 $ 9,732 $ 1,665 $ 436
Consumer non-accrual loans 10,797 18,261 12,565 7,303 4,611
Non-accrual loans (NAL) $19,407 $31,740 $22,297 $ 8,968 $5,047
OREO $ 1,703 $ 1,500 $ 1,433 $ 1,228 $ 701
Other repossessed assets 28 73 78 99 75
Non-accrual assets (NAA) $21,138 $33,313 $23,808 $10,295 $5,823
NAL as a percentage of total loans 2.99% 5.37% 3.21% 1.15%
NAA as a percentage of total assets 1.10 1.79 1.23 0.47
Allowance for loan losses as a percentage of NAL (1)(2) 209 114 133 180
(1) The $6.403 billion of non-accrual loans transferred from the held-for-sale portfolio to the held-for-investment portfolio during the fourth quarter of 2008 were marked to market at the transfer date and, therefore, no
allowance was necessary at the time of the transfer. $2.426 billion of the par value of the loans reclassified was written off prior to transfer.
(2) The allowance for loan losses includes the allowance for credit card and purchased distressed loans, while the non-accrual loans exclude credit card balances and purchased distressed loans as these continue to
accrue interest until write-off.
Non-accrual assets—Total Citicorp 2010 2009 2008 2007 2006
Non-accrual loans (NAL) $ 4,909 $ 5,353 $ 3,193 $2,027 $1,141
OREO 826 874 371 541 342
Other repossessed assets N/A N/A N/A N/A N/A
Non-accrual assets (NAA) $ 5,735 $ 6,227 $ 3,564 $2,568 $1,483
NAA as a percentage of total assets 0.45% 0.55% 0.36% 0.21%
Allowance for loan losses as a percentage of NAL (1) 348 200 241 242
Non-accrual assets—Total Citi Holdings
Non-accrual loans (NAL) $14,498 $26,387 $19,104 $6,941 $3,906
OREO 863 615 1,022 679 358
Other repossessed assets N/A N/A N/A N/A N/A
Non-accrual assets (NAA) $15,361 $27,002 $20,126 $7,620 $4,264
NAA as a percentage of total assets 4.28% 5.54% 2.81% 0.86%
Allowance for loan losses as a percentage of NAL (1) 163 96 115 161
(1) The allowance for loan losses includes the allowance for credit card and purchased distressed loans, while the non-accrual loans exclude credit card balances (with the exception of certain international portfolios) and
purchased distressed loans as these continue to accrue interest until write-off.
N/A Not available at the Citicorp or Citi Holdings level.