Citibank 2012 Annual Report Download - page 131

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AVERAGE BALANCES AND INTEREST RATES—LIABILITIES AND EQUITY,
AND NET INTEREST REVENUE (1)(2)(3)(4)
Taxable Equivalent Basis
Average volume Interest expense % Average rate
In millions of dollars, except rates 2012 2011 2010 2012 2011 2010 2012 2011 2010
Liabilities
Deposits
In U.S. offices (5) $ 233,100 222,796 235,549 $ 1,954 $ 2,171 $ 2,284 0.84% 0.97 0.97
In offices outside the U.S. (6) 488,166 485,101 483,796 5,659 6,385 6,087 1.16 1.32 1.26
Total $ 721,266 $ 707,897 $ 719,345 $ 7,613 $ 8,556 $ 8,371 1.06% 1.21% 1.16%
Federal funds purchased and securities loaned
or sold under agreements to repurchase (7)
In U.S. offices $ 121,843 $ 120,039 $ 123,425 $ 852 $ 776 $ 797 0.70% 0.65% 0.65%
In offices outside the U.S. (6) 101,928 99,848 88,892 1,965 2,421 2,011 1.93 2.42 2.26
Total $ 223,771 $ 219,887 $ 212,317 $ 2,817 $ 3,197 $ 2,808 1.26% 1.45% 1.32%
Trading account liabilities (8)(9)
In U.S. offices $ 29,486 $ 37,279 $ 36,115 $ 116 $ 266 $ 283 0.39% 0.71% 0.78%
In offices outside the U.S. (6) 44,639 49,162 43,501 74 142 96 0.17 0.29 0.22
Total $ 74,125 $ 86,441 $ 79,616 $ 190 $ 408 $ 379 0.26% 0.47% 0.48%
Short-term borrowings
In U.S. offices $ 78,747 $ 87,472 $ 119,262 $ 203 $ 139 $ 674 0.26% 0.16% 0.57%
In offices outside the U.S. (6) 31,897 39,052 35,533 524 511 243 1.64 1.31 0.68
Total $ 110,644 $ 126,524 $ 154,795 $ 727 $ 650 $ 917 0.66% 0.51% 0.59%
Long-term debt (10)
In U.S. offices $ 255,093 $ 325,709 $ 370,819 $ 8,845 $10,697 $ 11,757 3.47% 3.28% 3.17%
In offices outside the U.S. (6) 14,603 17,970 22,176 292 721 864 2.00 4.01 3.90
Total $ 269,696 $ 343,679 $ 392,995 $ 9,137 $11,418 $ 12,621 3.39% 3.32% 3.21%
Total interest-bearing liabilities $1,399,502 $1,484,428 $1,559,068 $20,484 $24,229 $ 25,096 1.46% 1.63% 1.61%
Demand deposits in U.S. offices $ 13,170 $ 16,410 $ 16,117
Other non-interest-bearing liabilities (8) 311,529 275,408 245,481
Total liabilities from discontinued operations —10 18,410
Total liabilities $1,724,201 $1,776,256 $1,839,076
Citigroup stockholders’ equity (11) $ 184,592 $ 174,351 $ 156,478
Noncontrolling interest 1,906 2,029 2,307
Total equity (11) $ 186,498 $ 176,380 $ 158,785
Total liabilities and stockholders’ equity $1,910,699 $1,952,636 $1,997,861
Net interest revenue as a percentage of average
interest-earning assets (12)
In U.S. offices $ 941,367 $ 971,792 $1,044,486 $24,800 $25,723 $30,928 2.63% 2.65% 2.96%
In offices outside the U.S. (6) 734,895 741,626 709,115 23,396 23,249 23,777 3.18 3.13 3.35
Total $1,676,262 $1,713,418 $1,753,601 $48,196 $48,972 $54,705 2.88% 2.86% 3.12%
(1) Interest expense includes the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 35%) of $51 million, $5 million and $0 million for 2012, 2011 and 2010, respectively.
(2) Interest rates and amounts include the effects of risk management activities associated with the respective asset and liability categories.
(3) Monthly or quarterly averages have been used by certain subsidiaries where daily averages are unavailable.
(4) Detailed average volume, Interest revenue and Interest expense exclude Discontinued operations. See Note 3 to the Consolidated Financial Statements.
(5) Consists of other time deposits and savings deposits. Savings deposits are made up of insured money market accounts, NOW accounts, and other savings deposits. The interest expense on savings deposits includes
FDIC deposit insurance fees and charges.
(6) Average rates reflect prevailing local interest rates, including inflationary effects and monetary corrections in certain countries.
(7) Average volumes of securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41 (ASC 210-20-45). However, Interest expense excludes the impact of FIN 41 (ASC 210-20-45).
(8) The fair value carrying amounts of derivative contracts are reported in Non-interest-earning assets and Other non-interest-bearing liabilities.
(9) Interest expense on Trading account liabilities of ICG is reported as a reduction of Interest revenue. Interest revenue and Interest expense on cash collateral positions are reported in interest on Trading account assets
and Trading account liabilities, respectively.
(10) Excludes hybrid financial instruments and beneficial interests in consolidated VIEs that are classified as Long-term debt, as these obligations are accounted for in changes in fair value recorded in Principal transactions.
(11) Includes stockholders’ equity from discontinued operations.
(12) Includes allocations for capital and funding costs based on the location of the asset.