Citibank 2013 Annual Report Download - page 190

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3. BUSINESS SEGMENTS
Citigroup is a diversified bank holding company whose businesses provide
a broad range of financial services to Consumer and Corporate customers
around the world. The Company’s activities are conducted through the
Global Consumer Banking (GCB), Institutional Clients Group (ICG),
Corporate/Other and Citi Holdings business segments.
The GCB segment includes a global, full-service Consumer franchise
delivering a wide array of banking, credit card lending and investment
services through a network of local branches, offices and electronic delivery
systems and is composed of four Regional Consumer Banking (RCB)
businesses: North America, EMEA, Latin America and Asia.
The Company’s ICG segment is composed of Securities and Banking and
Transaction Services and provides corporate, institutional, public sector and
high-net-worth clients in approximately 100 countries with a broad range of
banking and financial products and services.
Corporate/Other includes net treasury results, unallocated corporate
expenses, offsets to certain line-item reclassifications (eliminations), the
results of discontinued operations and unallocated taxes.
The Citi Holdings segment is composed of businesses and portfolios
of assets that Citigroup has determined are not central to its core Citicorp
businesses.
The accounting policies of these reportable segments are the same as
those disclosed in Note 1 to the Consolidated Financial Statements.
The prior-period balances reflect reclassifications to conform the
presentation in those periods to the current period’s presentation.
Reclassifications during the second quarter of 2013 related to the reporting of
Citi’s announced sale of Credicard as discontinued operations are reflected for
all periods presented (see Note 2 to the Consolidated Financial Statements).
Reclassifications during the first quarter of 2013 were related to the re-
allocation of certain administrative costs and the re-allocation of certain
funding costs among Citi’s businesses.
The following table presents certain information regarding the Company’s
continuing operations by segment:
Revenues,
net of interest expense (1)
Provision (benefit)
for income taxes
Income (loss) from
continuing operations (2) Identifiable assets
In millions of dollars, except
identifiable assets in billions 2013 2012 2011 2013 2012 2011 2013 2012 2011 2013 2012
Global Consumer Banking $38,169 $39,120 $38,125 $ 3,638 $ 3,681 $ 3,537 $ 7,132 $ 7,955 $ 7,666 $ 405 $ 404
Institutional Clients Group 33,578 30,730 32,131 3,972 2,162 2,872 9,631 8,093 8,360 1,045 1,062
Corporate/Other 77 70 762 (614) (1,443) (724) (1,259) (1,702) (808) 313 243
Total Citicorp $71,824 $69,920 $71,018 $ 6,996 $ 4,400 $ 5,685 $15,504 $14,346 $15,218 $1,763 $1,709
Citi Holdings 4,542 (792) 6,313 (1,129) (4,393) (2,110) (1,874) (6,528) (4,071) 117 156
Total $76,366 $69,128 $77,331 $ 5,867 $ 7 $ 3,575 $13,630 $ 7,818 $11,147 $1,880 $1,865
(1) Includes Citicorp (excluding Corporate/Other) total revenues, net of interest expense, in North America of $31.3 billion, $30.1 billion and $30.4 billion; in EMEA of $11.4 billion, $11.4 billion and $12.2 billion; in Latin
America of $14.0 billion, $13.4 billion and $12.5 billion; and in Asia of $15.0 billion, $15.0 billion and $15.2 billion in 2013, 2012 and 2011, respectively. Regional numbers exclude Citi Holdings and Corporate/Other,
which largely operate within the U.S.
(2) Includes pretax provisions (credits) for credit losses and for benefits and claims in the GCB results of $6.8 billion, $6.2 billion and $6.2 billion; in the ICG results of $78 million, $276 million and $152 million; and in Citi
Holdings results of $1.6 billion, $4.9 billion and $6.0 billion for 2013, 2012 and 2011, respectively.