Citibank 2014 Annual Report Download - page 95

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The table below summarizes Citigroup’s other real estate owned (OREO) assets as of the periods indicated. This represents the carrying value of all real estate
property acquired by foreclosure or other legal proceedings when Citi has taken possession of the collateral.
December 31,
In millions of dollars 2014 2013 2012 2011 2010
OREO (1)
Citicorp $ 96 $ 79 $ 49 $ 86 $ 840
Citi Holdings 164 338 391 480 863
Total OREO $ 260 $ 417 $ 440 $ 566 $ 1,703
North America $ 195 $ 305 $ 299 $ 441 $ 1,440
EMEA 859 99 73 161
Latin America 47 47 40 51 47
Asia 10 6 2 1 55
Total OREO $ 260 $ 417 $ 440 $ 566 $ 1,703
Other repossessed assets $ — $ — $ 1 $ 1 $ 28
Non-accrual assets—Total Citigroup
Corporate non-accrual loans $1,183 $1,908 $ 2,333 $ 3,236 $ 8,620
Consumer non-accrual loans 5,924 7,095 9,197 7,832 10,787
Non-accrual loans (NAL) $7,107 $9,003 $11,530 $11,068 $19,407
OREO $ 260 $ 417 $ 440 $ 566 $ 1,703
Other repossessed assets —— 1 1 28
Non-accrual assets (NAA) $7,367 $9,420 $11,971 $11,635 $21,138
NAL as a percentage of total loans 1.10% 1.35% 1.76% 1.71% 2.99%
NAA as a percentage of total assets 0.40 0.50 0.64 0.62 1.10
Allowance for loan losses as a percentage of NAL (2) 225 218 221 272 209
Non-accrual assets—Total Citicorp 2014 2013 2012 2011 2010
Non-accrual loans (NAL) $3,062 $3,791 $ 4,096 $ 4,018 $ 4,909
OREO 96 79 49 86 840
Other repossessed assets N/A N/A N/A N/A N/A
Non-accrual assets (NAA) $3,158 $3,870 $ 4,145 $ 4,104 $ 5,749
NAA as a percentage of total assets 0.18% 0.22% 0.24% 0.25% 0.36%
Allowance for loan losses as a percentage of NAL (2) 374 348 357 416 456
Non-accrual assets—Total Citi Holdings
Non-accrual loans (NAL) $4,045 $5,212 $ 7,434 $ 7,050 $14,498
OREO 164 338 391 480 863
Other repossessed assets N/A N/A N/A N/A N/A
Non-accrual assets (NAA) $4,209 $5,550 $ 7,825 $ 7,530 $15,361
NAA as a percentage of total assets 4.29% 4.74% 5.02% 3.35% 4.91%
Allowance for loan losses as a percentage of NAL (2) 112 124 146 190 126
(1) 2014 reflects a decrease of $130 million related to the adoption of ASU 2014-14, which requires certain government guaranteed mortgage loans to be recognized as separate other receivables upon foreclosure. Prior
periods have not been restated. For additional information, see Note 1 of the Consolidated Financial Statements.
(2) The allowance for loan losses includes the allowance for Citi’s credit card portfolios and purchased distressed loans, while the non-accrual loans exclude credit card balances (with the exception of certain international
portfolios) and purchased distressed loans as these continue to accrue interest until charge-off.
N/A Not available at the Citicorp or Citi Holdings level.