Citibank 2015 Annual Report Download - page 120

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Average Balances and Interest Rates—Liabilities and Equity, and Net Interest Revenue (1)(2)(3)(4)
Average volume Interest expense % Average rate
In millions of dollars, except rates 2015 2014 2013 2015 2014 2013 2015 2014 2013
Liabilities
Deposits
In U.S. offices (5) $ 273,122 $ 289,669 $ 262,544 $ 1,291 $ 1,432 $ 1,754 0.47% 0.49% 0.67%
In offices outside the U.S. (6) 425,053 465,144 481,134 3,761 4,260 4,482 0.88 0.92 0.93
Total $ 698,175 $ 754,813 $ 743,678 $ 5,052 $ 5,692 $ 6,236 0.72% 0.75% 0.84%
Federal funds purchased and securities loaned
or sold under agreements to repurchase (7)
In U.S. offices $ 108,286 $ 102,246 $ 126,742 $ 721 $ 656 $ 677 0.67% 0.64% 0.53%
In offices outside the U.S. (6) 66,200 87,777 102,623 893 1,239 1,662 1.35 1.41 1.62
Total $ 174,486 $ 190,023 $ 229,365 $ 1,614 $ 1,895 $ 2,339 0.93% 1.00% 1.02%
Trading account liabilities (8)(9)
In U.S. offices $ 25,837 $ 30,451 $ 24,834 $ 111 $ 75 $ 93 0.43% 0.25% 0.37%
In offices outside the U.S. (6) 44,126 45,205 47,908 105 93 76 0.24 0.21 0.16
Total $ 69,963 $ 75,656 $ 72,742 $ 216 $ 168 $ 169 0.31% 0.22% 0.23%
Short-term borrowings (10)
In U.S. offices $ 66,086 $ 79,028 $ 77,439 $ 234 $ 161 $ 176 0.35% 0.20% 0.23%
In offices outside the U.S. (6) 50,043 39,220 35,551 288 419 421 0.58 1.07 1.18
Total $ 116,129 $ 118,248 $ 112,990 $ 522 $ 580 $ 597 0.45% 0.49% 0.53%
Long-term debt (11)
In U.S. offices $ 182,371 $ 194,295 $ 194,140 $ 4,309 $ 5,093 $ 6,602 2.36% 2.62% 3.40%
In offices outside the U.S. (6) 7,643 7,761 10,194 208 262 234 2.72 3.38 2.30
Total $ 190,014 $ 202,056 $ 204,334 $ 4,517 $ 5,355 $ 6,836 2.38% 2.65% 3.35%
Total interest-bearing liabilities $1,248,767 $1,340,796 $1,363,109 $11,921 $13,690 $16,177 0.95% 1.02% 1.19%
Demand deposits in U.S. offices $ 26,124 $ 26,216 $ 21,948
Other non-interest-bearing liabilities (8) 329,756 317,351 299,052
Total liabilities from discontinued operations —— 362
Total liabilities $1,604,647 $1,684,363 $1,684,471
Citigroup stockholders’ equity (12) $ 217,875 $ 210,863 $ 196,884
Noncontrolling interest 1,315 1,689 1,941
Total equity (12) $ 219,190 $ 212,552 $ 198,825
Total liabilities and stockholders’ equity $1,823,837 $1,896,915 $1,883,296
Net interest revenue as a percentage of average
interest-earning assets (13)
In U.S. offices $ 923,334 $ 953,394 $ 926,291 $28,495 $27,497 $25,591 3.09% 2.88% 2.76%
In offices outside the U.S. (6) 682,503 718,800 731,570 18,624 20,993 21,723 2.73 2.92 2.97
Total $1,605,837 $1,672,194 $1,657,861 $47,119 $48,490 $47,314 2.93% 2.90% 2.85%
(1) Net interest revenue includes the taxable equivalent adjustments related to the tax-exempt bond portfolio (based on the U.S. federal statutory tax rate of 35%) of $487 million, $498 million and $521 million for 2015,
2014 and 2013, respectively.
(2) Interest rates and amounts include the effects of risk management activities associated with the respective liability categories.
(3) Monthly or quarterly averages have been used by certain subsidiaries where daily averages are unavailable.
(4) Detailed average volume, Interest revenue and Interest expense exclude Discontinued operations. See Note 2 to the Consolidated Financial Statements.
(5) Consists of other time deposits and savings deposits. Savings deposits are made up of insured money market accounts, NOW accounts, and other savings deposits. The interest expense on savings deposits includes
FDIC deposit insurance assessments.
(6) Average rates reflect prevailing local interest rates, including inflationary effects and monetary corrections in certain countries.
(7) Average volumes of securities sold under agreements to repurchase are reported net pursuant to ASC 210-20-45. However, Interest expense excludes the impact of ASC 210-20-45.
(8) The fair value carrying amounts of derivative contracts are reported net, pursuant to ASC 815-10-45, in Non-interest-earning assets and Other non-interest-bearing liabilities.
(9) Interest expense on Trading account liabilities of ICG is reported as a reduction of Interest revenue. Interest revenue and Interest expense on cash collateral positions are reported in interest on Trading account assets
and Trading account liabilities, respectively.
(10) Includes brokerage payables.
(11) Excludes hybrid financial instruments and beneficial interests in consolidated VIEs that are classified as Long-term debt, as these obligations are accounted for in changes in fair value recorded in Principal transactions.
(12) Includes stockholders’ equity from discontinued operations.
(13) Includes allocations for capital and funding costs based on the location of the asset.