Citibank 2014 Annual Report Download - page 155

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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 2014 2013 2012 2014 2013 2012
Preferred stock at aggregate liquidation value
Balance, beginning of year $ 6,738 $ 2,562 $ 312 270 102 12
Issuance of new preferred stock 3,730 4,270 2,250 149 171 90
Redemption of preferred stock —(94) — —(3) —
Balance, end of period $ 10,468 $ 6,738 $ 2,562 419 270 102
Common stock and additional paid-in capital
Balance, beginning of year $107,224 $106,421 $105,833 3,062,099 3,043,153 2,937,756
Employee benefit plans 798 878 597 19,928 18,930 9,037
Preferred stock issuance expense (31) (78) — —— —
Issuance of shares and T-DEC for TARP repayment —— — —— 96,338
Other 19 3 (9) 11 16 22
Balance, end of period $108,010 $107,224 $106,421 3,082,038 3,062,099 3,043,153
Retained earnings
Adjusted balance, beginning of period $111,168 $ 97,809 $ 90,413
Citigroup’s net income 7,313 13,673 7,541
Common dividends (1) (122) (120) (120)
Preferred dividends (511) (194) (26)
Tax benefit 353 — —
Other —— 1
Balance, end of period $118,201 $111,168 $ 97,809
Treasury stock, at cost
Balance, beginning of year $ (1,658) $ (847) $ (1,071) (32,856) (14,269) (13,878)
Employee benefit plans (2) (39) 26 229 (483) (1,629) (253)
Treasury stock acquired (3) (1,232) (837) (5) (24,780) (16,958) (138)
Balance, end of period $ (2,929) $ (1,658) $ (847) (58,119) (32,856) (14,269)
Citigroup’s accumulated other comprehensive income (loss)
Balance, beginning of year $ (19,133) $ (16,896) $ (17,788)
Citigroup’s total other comprehensive income (loss) (4,083) (2,237) 892
Balance, end of period $ (23,216) $ (19,133) $ (16,896)
Total Citigroup common stockholders’ equity $200,066 $197,601 $186,487 3,023,919 3,029,243 3,028,884
Total Citigroup stockholders’ equity $210,534 $204,339 $189,049
Noncontrolling interests
Balance, beginning of year $ 1,794 $ 1,948 $ 1,767
Initial origination of a noncontrolling interest —6 88
Transactions between noncontrolling-interest shareholders and the
related consolidated subsidiary —(2) —
Transactions between Citigroup and the noncontrolling-interest shareholders (96) (118) 41
Net income attributable to noncontrolling-interest shareholders 185 227 219
Dividends paid to noncontrolling-interest shareholders (91) (63) (33)
Other comprehensive income (loss) attributable to noncontrolling-interest shareholders (106) (17) 90
Other (175) (187) (224)
Net change in noncontrolling interests $ (283) $ (154) $ 181
Balance, end of period $ 1,511 $ 1,794 $ 1,948
Total equity $212,045 $206,133 $190,997
(1) Common dividends declared were $0.01 per share in the first, second, third and fourth quarters of 2014, 2013 and 2012.
(2) Includes treasury stock related to (i) certain activity on employee stock option program exercises where the employee delivers existing shares to cover the option exercise, or (ii) under Citi’s employee restricted or
deferred stock programs where shares are withheld to satisfy tax requirements.
(3) For 2014 and 2013, primarily consists of open market purchases under Citi’s Board of Directors-approved common stock repurchase program.
The Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements.