Citibank 2012 Annual Report Download - page 166

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CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY Citigroup Inc. and Subsidiaries
Years ended December 31,
Amounts Shares
In millions of dollars, except shares in thousands 2012 2011 2010 2012 2011 2010
Preferred stock at aggregate liquidation value
Balance, beginning of year $ 312 $ 312 $ 312 12 12 12
Issuance of new preferred stock 2,250 — — 90 — —
Balance, end of period $ 2,562 $ 312 $ 312 102 12 12
Common stock and additional paid-in capital
Balance, beginning of year $105,833 $101,316 $ 98,428 2,937,756 2,922,402 2,862,610
Employee benefit plans 597 766 (736) 9,037 3,540 46,703
Issuance of shares and T-DECs for TARP repayment —— — 96,338 — 1,270
ADIA Upper DECs equity units purchase contract —3,750 3,750 —11,781 11,781
Other (9) 1 (126) 22 33 38
Balance, end of period $106,421 $105,833 $101,316 3,043,153 2,937,756 2,922,402
Retained earnings
Balance, beginning of year $ 90,520 $ 79,559 $ 77,440
Adjustment to opening balance, net of taxes (1)(2) (107) — (8,483)
Adjusted balance, beginning of period $ 90,413 $ 79,559 $ 68,957
Citigroup’s net income 7,541 11,067 10,602
Common dividends (3) (120) (81) 10
Preferred dividends (26) (26) (9)
Other 11 (1)
Balance, end of period $ 97,809 $ 90,520 $ 79,559
Treasury stock, at cost
Balance, beginning of year $ (1,071) $ (1,442) $ (4,543) (13,878) (16,566) (14,283)
Issuance of shares pursuant to employee benefit plans 229 372 3,106 (253) 2,714 (2,128)
Treasury stock acquired (4) (5) (1) (6) (138) (26) (162)
Other —— 1 —— 7
Balance, end of period $ (847) $ (1,071) $ (1,442) (14,269) (13,878) (16,566)
Citigroup’s accumulated other comprehensive income (loss)
Balance, beginning of year $ (17,788) $ (16,277) $ (18,937)
Net change in Citigroup’s Accumulated other comprehensive income (loss) 892 (1,511) 2,660
Balance, end of period $ (16,896) $ (17,788) $ (16,277)
Total Citigroup common stockholders’ equity $186,487 $177,494 $163,156 3,028,884 2,923,878 2,905,836
Total Citigroup stockholders’ equity $189,049 $177,806 $163,468
Noncontrolling interest
Balance, beginning of year $ 1,767 $ 2,321 $ 2,273
Initial origination of a noncontrolling interest 88 28 412
Transactions between Citigroup and the noncontrolling-interest shareholders 41 (274) (231)
Net income attributable to noncontrolling-interest shareholders 219 148 281
Dividends paid to noncontrolling-interest shareholders (33) (67) (99)
Net change in Accumulated other comprehensive income (loss) 90 (92) (26)
Other (224) (297) (289)
Net change in noncontrolling interests $ 181 $ (554) $ 48
Balance, end of period $ 1,948 $ 1,767 $ 2,321
Total equity $190,997 $179,573 $165,789
(1) The adjustment to the opening balance for Retained earnings in 2012 represents the cumulative effect of adopting ASU 2010-26, Financial Services—Insurance (Topic 944): Accounting for Costs Associated with
Acquiring or Renewing Insurance Contracts. See Note 1 to the Consolidated Financial Statements.
(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) Common dividends declared were $0.01 per share in each of the first, second, third and fourth quarters of 2012, and second, third and fourth quarters of 2011. Common 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.
(4) All open market repurchases were transacted under an existing authorized share repurchase plan and relate to customer fails/errors.
The Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements.