Citibank 2014 Annual Report Download - page 319

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PROPERTIES
Citi’s principal executive offices are currently located at 399 Park Avenue in
New York City and are the subject of a lease. Citi also has additional office
space at 601 Lexington Avenue in New York City under a long-term lease
and at 111 Wall Street in New York City under a lease of the entire building.
Citibank, N.A. leases a building in Long Island City, New York that is fully
occupied by Citi.
Citigroup Global Markets Holdings Inc.’s principal offices are located at
388 and 390 Greenwich Street in New York City, with both buildings subject to
long term-leases and fully occupied by Citi.
Citigroup’s principal executive offices in EMEA are located at 25 and 33
Canada Square in London’s Canary Wharf, with both buildings subject to
long-term leases. Citi is the largest or sole tenant of these buildings.
In Asia, Citi’s principal executive offices are in leased premises located
at Citibank Tower in Hong Kong. Citi also has significant leased premises
in Singapore and Japan. Citi has major or full ownership interests in
country headquarters locations in Shanghai, Seoul, Kuala Lumpur, Manila,
and Mumbai.
Citi’s principal executive offices in Mexico, which also serve as the
headquarters of Banamex, are located in Mexico City. Citi’s principal
executive offices for Latin America (other than Mexico) are located in leased
premises located in Miami.
Citi also owns or leases over 69 million square feet of real estate in 101
countries, consisting of over 10,000 properties.
Citi continues to evaluate its global real estate footprint and space
requirements and may determine from time to time that certain of its
premises are no longer necessary. There is no assurance that Citi will be
able to dispose of any excess premises or that it will not incur charges in
connection with such dispositions, which could be material to Citi’s operating
results in a given period.
Citi has developed programs for its properties to achieve long-term
energy efficiency objectives and reduce its greenhouse gas emissions to
lessen its impact on climate change. These activities could help to mitigate,
but will not eliminate, Citi’s potential risk from future climate change
regulatory requirements.
For further information concerning leases, see Note 27 to the Consolidated
Financial Statements.
DISCLOSURE PURSUANT TO SECTION 219 OF THE
IRAN THREAT REDUCTION AND SYRIA HUMAN
RIGHTS ACT
Pursuant to Section 219 of the Iran Threat Reduction and Syria Human
Rights Act of 2012 (Section 219), which added Section 13(r) to the Securities
Exchange Act of 1934, as amended, Citi is required to disclose in its annual
or quarterly reports, as applicable, whether it or any of its affiliates knowingly
engaged in certain activities, transactions or dealings relating to Iran or with
individuals or entities that are subject to sanctions under U.S. law. Disclosure
is generally required even where the activities, transactions or dealings
were conducted in compliance with applicable law. Citi has previously
disclosed reportable activities pursuant to Section 219 for each of the first,
second and third quarters of 2014 in its related quarterly reports on Form
10-Q. Citi has no reportable activities pursuant to Section 219 for the fourth
quarter of 2014.