Citibank 2015 Annual Report Download - page 222

204
Corporate Loans
Corporate loans represent loans and leases managed by ICG. The following
table presents information by corporate loan type:
In millions of dollars
December 31,
2015
December 31,
2014
In U.S. offices
Commercial and industrial $ 41,147 $ 35,055
Financial institutions 36,396 36,272
Mortgage and real estate (1) 37,565 32,537
Installment, revolving credit and other 33,374 29,207
Lease financing 1,780 1,758
$150,262 $134,829
In offices outside the U.S.
Commercial and industrial $ 78,420 $ 79,239
Financial institutions 28,704 33,269
Mortgage and real estate (1) 5,106 6,031
Installment, revolving credit and other 20,853 19,259
Lease financing 238 356
Governments and official institutions 4,911 2,236
$138,232 $140,390
Total corporate loans $288,494 $275,219
Net unearned income (660) (554)
Corporate loans, net of unearned income $287,834 $274,665
(1) Loans secured primarily by real estate.
The Company sold and/or reclassified to held-for-sale $2.8 billion and
$4.8 billion of corporate loans during the years ended December 31, 2015
and 2014, respectively. The Company did not have significant purchases
of corporate loans classified as held-for-investment for the years ended
December 31, 2015 or 2014.
Delinquency Status
Citi generally does not manage corporate loans on a delinquency basis.
Corporate loans are identified as impaired and placed on a cash (non-
accrual) basis when it is determined, based on actual experience and a
forward-looking assessment of the collectability of the loan in full, that the
payment of interest or principal is doubtful or when interest or principal
is 90 days past due, except when the loan is well collateralized and in the
process of collection. Any interest accrued on impaired corporate loans
and leases is reversed at 90 days and charged against current earnings,
and interest is thereafter included in earnings only to the extent actually
received in cash. When there is doubt regarding the ultimate collectability
of principal, all cash receipts are thereafter applied to reduce the recorded
investment in the loan. While corporate loans are generally managed based
on their internally assigned risk rating (see further discussion below), the
following tables present delinquency information by corporate loan type.