Citibank 2015 Annual Report Download - page 103

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Non-Accrual Loans and Assets
The table below summarizes Citigroup’s non-accrual loans as of the periods
indicated. Non-accrual loans may still be current on interest payments. In
situations where Citi reasonably expects that only a portion of the principal
owed will ultimately be collected, all payments received are reflected as a
reduction of principal and not as interest income. For all other non-accrual
loans, cash interest receipts are generally recorded as revenue.
December 31,
In millions of dollars 2015 2014 2013 2012 2011
Citicorp $3,092 $3,011 $3,777 $ 4,031 $ 3,776
Citi Holdings 2,162 4,096 5,226 7,499 7,292
Total non-accrual loans $ 5,254 $ 7,107 $ 9,003 $11,530 $11,068
Corporate non-accrual loans (1)(2)
North America $ 818 $ 321 $ 736 $ 735 $ 1,246
EMEA 317 267 766 1,131 1,293
Latin America 301 416 127 128 362
Asia 128 179 279 339 335
Total corporate non-accrual loans $1,564 $ 1,183 $ 1,908 $ 2,333 $ 3,236
Citicorp $1,511 $1,126 $ 1,580 $ 1,909 $ 2,217
Citi Holdings 53 57 328 424 1,019
Total corporate non-accrual loans $1,564 $ 1,183 $ 1,908 $ 2,333 $ 3,236
Consumer non-accrual loans (1)(3)
North America $2,515 $4,412 $ 5,238 $ 7,149 $ 5,888
Latin America 876 1,188 1,426 1,285 1,107
Asia (4) 299 324 431 763 837
Total consumer non-accrual loans $3,690 $ 5,924 $ 7,095 $ 9,197 $ 7,832
Citicorp $1,581 $1,885 $ 2,197 $ 2,122 $ 1,559
Citi Holdings 2,109 4,039 4,898 7,075 6,273
Total consumer non-accrual loans $3,690 $ 5,924 $ 7,095 $ 9,197 $ 7,832
(1) Excludes purchased distressed loans, as they are generally accreting interest. The carrying value of these loans was $250 million at December 31, 2015, $421 million at December 31, 2014, $703 million at
December 31, 2013, $537 million at December 31, 2012 and $511 million at December 31, 2011.
(2) Included within the increase in corporate non-accrual loans from December 31, 2014 to December 31, 2015 is an approximate $340 million increase during the third quarter of 2015 primarily related to Citi’s North
America energy and energy-related corporate credit exposure. For additional information, see “Corporate Credit Details” above.
(3) 2015 decline includes the impact related to the transfer of approximately $8 billion of mortgage loans to Loans, held-for-sale (HFS) (included within Other assets).
(4) For reporting purposes, Asia GCB includes the results of operations of EMEA GCB for all periods presented.
The changes in Citigroup’s non-accrual loans were as follows:
Year ended December 31, 2015
In millions of dollars Corporate Consumer Total
Non-accrual loans at beginning
of period $1,183 $ 5,924 $ 7,107
Additions 1,318 5,219 6,537
Sales and transfers to held-for-sale (222) (2,249) (2,471)
Returned to performing (64) (1,080) (1,144)
Paydowns/settlements (459) (1,255) (1,714)
Charge-offs (145) (2,642) (2,787)
Other (47) (227) (274)
Ending balance $1,564 $ 3,690 $ 5,254