Citibank 2011 Annual Report Download - page 201

179
The Company has no valuation allowance on its deferred tax assets
(DTAs) at December 31, 2011 and December 31, 2010.
In billions of dollars
Jurisdiction/component
DTA balance
December 31, 2011
$4!æBALANCEæ
$ECEMBERææ
U.S. federal (1)
#ONSOLIDATEDæTAXæRETURNæNETææ
OPERATINGæLOSSESæ./,S $—  
#ONSOLIDATEDæTAXæRETURNææ
FOREIGNæTAXæCREDITSæ&4#S 15.8 
#ONSOLIDATEDæTAXæRETURNææ
GENERALæBUSINESSæCREDITSæ'"#S 2.1 
&UTUREæTAXæDEDUCTIONSæANDæCREDITS 23.0 
/THERæ 1.4 
Total U.S. federal $42.3 
State and local
.EWæ9ORKæ./,S $ 1.3 ææ
/THERæSTATEæ./,S 0.7 
&UTUREæTAXæDEDUCTIONS 2.2 
Total state and local $ 4.2  
Foreign
!0"ææSUBSIDIARYæ./,S $ 0.5  
.ON!0"ææSUBSIDIARYæ./,S 1.8 
&UTUREæTAXæDEDUCTIONS 2.7 
Total foreign $ 5.0 ææ
Total $51.5 
æ )NCLUDEDæINæTHEæNETæ53æFEDERALæ$4!SæOFææBILLIONæAREæDEFERREDæTAXæLIABILITIESæOFææBILLIONæTHATæWILLæ
REVERSEæINæTHEæRELEVANTæCARRYFORWARDæPERIODæANDæMAYæBEæUSEDæTOæSUPPORTæTHEæ$4!SæANDææBILLIONæ
INæCOMPENSATIONæDEDUCTIONSæTHATæREDUCEDæADDITIONALæPAIDINæCAPITALæINæ*ANUARYææANDæFORæWHICHæ
NOæADJUSTMENTæWASæPERMITTEDæTOæSUCHæ$4!SæATæ$ECEMBERæææBECAUSEæTHEæRELATEDæSTOCKæ
COMPENSATIONæWASæNOTæYETæDEDUCTIBLEæTOæ#ITI
æ )NCLUDESææBILLIONæANDææBILLIONæFORææANDææRESPECTIVELYæOFæTAXæCARRYFORWARDSæRELATEDæ
TOæCOMPANIESæTHATæFILEæ53æFEDERALæTAXæRETURNSæSEPARATEæFROMæ#ITIGROUPSæCONSOLIDATEDæ53æFEDERALæ
TAXæRETURN
The following table summarizes the amounts of tax carryforwards and
their expiration dates as of December 31, 2011:
In billions of dollars
Year of expiration Amount
U.S. consolidated tax return foreign tax credit carryforwards
  
 
 
 
 
 
Total U.S. consolidated tax return foreign tax credit carryforwards $15.8
U.S. consolidated tax return general business credit carryforwards
  
 
 
 
 
Total U.S. consolidated tax return general business credit carryforwards $ 2.1
U.S. separate tax returns federal net operating loss (NOL) carryforwards
  
 
Total U.S. separate tax returns federal NOL carryforwards (1) $ 3.1
New York State NOL carryforwards
  
 
 
 
Total New York State NOL carryforwards (1) $ 9.8
New York City NOL carryforwards
  
 
 
 
Total New York City NOL carryforwards (1) $ 4.9
APB 23 subsidiary NOL carryforwards
  
6ARIOUS 
Total APB 23 subsidiary NOL carryforwards $ 0.5
ææ 0RETAX