Need a paper paraphrased

profileKings66
CopyofAnswer1234-1.xlsx
Home>Business & Finance homework help>Need a paper paraphrased

Balance Sheet

CONSOLIDATED BALANCE SHEET Citigroup Inc. and Subsidiaries
December 31,
In millions of dollars, except shares 2014 2013 2012 2011 2010
Assets:
Cash and due from banks (including segregate cash and other deposits) 32108 29885 36453 28701 27972
Deposits with bank 128089 169005 102134 155784 162437
Federal funds sold and securities borrowed or purchased under agreements to resell (including $160,589 and $142,862 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 242570 257037 261311 275849 246717
Brokerage receivables 28419 25674 22490 27777 31213
Trading account assets (including $105,458 and $119,054 pledged to creditors at December 31, 2012 and December 31, 2011, respectively) 296786 285928 320929 291734 317272
Investments (including $21,423 and $14,940 pledged to creditors at December 31, 2012 and December 31, 2011, respectively, and $294,463 and $274,040 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 333443 308980 312326 293413 318164
Loans, net of unearned income
Consumer (including $1,231 and $1,326 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 369970 393831 408671 423340 455732
Corporate (including $4,056 and $3,939 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 274665 271641 246793 223902 193062
Loans, net of unearned income 644635 665472 655464 647242 648794
Allowance for loan losses -15994 -19648 -25455 -30115 -40655
Total loans, net 628641 645824 630009 617127 608139
Goodwill 23592 25009 25673 25413 26152
Intangible assets (other than MSRs) 4566 5056 5697 6600 7504
Mortgage servicing rights (MSRs) 1845 2718 1942 2569 4554
Other assets (including $13,299 and $13,360 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 122471 125266 145660 148911 163778
Assets of discontinued operations held for sale 0 0 36 0 0
Total assets 1842530 1880382 1864660 1873878 1913902
Liabilities:
Non-interest-bearing deposits in U.S. offices 128958 128399 129657 119437 78268
Interest-bearing deposits in U.S. offices (including $889 and $848 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 284978 284164 247716 223851 225731
Non-interest-bearing deposits in offices outside the U.S. 70925 69406 65024 57357 55066
Interest-bearing deposits in offices outside the U.S. (including $558 and $478 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 414471 486304 488163 465291 485903
Total deposits 899332 968273 930560 865936 844968
Federal funds purchased and securities loaned or sold under agreements to repurchase (including $116,689 and $97,712 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 173438 203512 211236 198373 189558
Brokerage payables 52180 53707 57013 56696 51749
Trading account liabilities 139036 108762 115549 126082 129054
Short-term borrowings (including $818 and $1,354 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 58335 58944 52027 54441 78790
Long-term debt (including $29,764 and $24,172 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 223080 221116 239463 323505 381183
Other liabilities (including $2,910 and $3,742 as of December 31, 2012 and December 31, 2011, respectively, at fair value) 85084 59935 67815 69272 72811
Liabilities of discontinued operations held for sale 0 0 0 0 0
Total liabilities 1630485 1674249 1673663 1694305 1748113
Stockholders’ equity:
Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 102,038 as of December 31, 2012 and 12,038 as of December 31, 2011, at aggregate liquidation value 10468 6738 2562 312 312
Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,043,153,204 as of December 31, 2012 and 2,937,755,921 as of December 31, 2011 31 31 30 29 29
Additional paid-in capital 107979 107193 106391 105804 101287
Retained earnings 118201 111168 97809 90520 79559
Treasury stock, at cost: December 31, 2012—14,269,301 shares and December 31, 2011—13,877,688 shares -2929 -1658 -847 -1071 -1442
Accumulated other comprehensive income (loss) -23216 -19133 -16896 -17788 -16277
Total Citigroup stockholders’ equity 210534 204339 189049 177806 163468
Noncontrolling interest 1511 1794 1948 1767 2321
Total equity 212045 206133 190997 179573 165789
Total liabilities and equity 1842530 1880382 1864660 1873878 1913902

Income Statement

CONSOLIDATED STATEMENT OF INCOME Citigroup Inc and Subsidiaries
Years Ended December 31,
In millions of dollars, except per share amounts 2014 2013 2012 2011 2010
Revenues
Interest revenue 61683 62970 68138 72681 79282
Interest expense 13690 16177 20535 24234 25096
Net interest revenue 47993 46793 47603 48447 54186
Commissions and fees 13032 12941 12926 12850 13658
Principal transactions 6698 7302 4781 7234 7517
Administration and other fiduciary fees 4013 4089 4012 3995 4005
Realized gains (losses) on sales of investments, net 570 748 3251 1997 2411
Other-than-temporary impairment losses on investments
Gross impairment losses -432 -633 -5037 -2413 -1495
Less: Impairments recognized in AOCI 8 98 66 159 84
Net impairment losses recognized in earnings -424 -535 -4971 -2254 -1411
Insurance premiums 2110 2280 2476 2647 2684
Other revenue 2890 2801 95 3437 3551
Total non-interest revenues 28889 29626 22570 29906 32415
Total revenues, net of interest expense 76882 76419 70173 78353 86601
Provisions for credit losses and for benefits and claims
Provision for loan losses 6828 7604 10848 11773 25194
Policyholder benefits and claims 801 830 887 972 965
Provision (release) for unfunded lending commitments -162 80 -16 51 -117
Total provisions for credit losses and for benefits and claims 7467 8514 11719 12796 26042
Operating expenses
Compensation and benefits 23959 23967 25204 25688 24430
Premises and equipment 3178 3165 3282 3326 3331
Technology/communication 6436 6136 5914 5133 4924
Advertising and marketing 1844 1888 2224 2346 1645
Other operating 19634 13252 13894 14440 13045
Total operating expenses 55051 48408 50518 50933 47375
Income (loss) from continuing operations before income taxes 14364 19497 7936 14624 13184
Provision for income taxes (benefit) 6864 5867 27 3521 2233
Income from continuing operations 7500 13630 7909 11103 10951
Discontinued operations
Income (loss) from discontinued operations 10 -242 -219 23 72
Gain (loss) on sale 0 268 -1 155 -702
Provision (benefit) for income taxes 12 -244 -71 66 -562
Income (loss) from discontinued operations, net of taxes -2 270 -149 112 -68
Net income before attribution of noncontrolling interests 7498 13900 7760 11215 10883
Noncontrolling interests 185 227 219 148 281
Citigroup’s net income 7313 13673 7541 11067 10602
Basic earnings per share 2.21 4.35 2.51 3.73 3.65
Diluted earnings per share 2.2 4.35 2.44 3.63 3.54

Ratios

Ratios 2014 2013 2012 2011 2010
Interest Income Growth -2.04% -7.58% -6.25% -8.33%
Interest expense growth -15.37% -21.22% -15.26% -3.43%
Loan loss provision growth -10.21% -29.90% -7.86% -53.27%
Deposit Growth -7.12% 4.05% 7.46% 2.48%
Net Income to Average assets 0.39% 0.73% 0.39% 0.57% 0.53%
Return on average total shareholders equity 3.40% 7.00% 4.10% 6.30% 6.80%
Total average equity to total asset 11.10% 10.50% 9.70% 8.90% 7.80%
Operation Profit margin 29.93% 41.67% 16.67% 30.19% 24.33%
Net Profit Margin 15.24% 29.22% 15.84% 22.84% 19.57%
Interest rate 2014 2013 2012 2011 2010
Corporate bond rate 4.16% 4.23% 3.67% 4.64% 4.94%
Conventional mortgages rate 4.17% 3.98% 3.66% 4.46% 4.69%
Net Profit Margin 2014 2013 2012 2011 2010 0.15237638822328256 0.29220182505930375 0.15841438564796337 0.22843519722583441 0.19565939541579006 Corporate bond rate 2014 2013 2012 2011 2010 4.1599999999999998E-2 4.2299999999999997E-2 3.6700000000000003E-2 4.6399999999999997E-2 4.9399999999999999E-2 Conventional mortgages rate 2014 2013 2012 2011 2010 4.1700000000000001E-2 3.9800000000000002E-2 3.6600000000000001E-2 4.4600000000000001E-2 4.6899999999999997E-2

Competitor Balance Sheet

CONSOLIDATED BALANCE SHEET Bank Of America Corp and Subsidiaries
December 31,
In millions of dollars, except shares 2014 2013 2012 2011 2010
Assets:
Cash and cash equivalents 138589 131322 110752 120102 108427
Time deposits placed and other short-term investments 7510 11540 18694 26004 26433
Federal funds sold and securities borrowed or purchased under agreements to resell (includes $62,182 and $68,656 measured at fair value) 191823 190328 219924 211183 209616
Trading account assets (includes $110,923 and $111,817 pledged as collateral) 191785 200993 237226 169319 194671
Derivative assets 52682 47495 53497 73023 73000
Debt securities:
Carried at fair value (includes $46,976 and $52,283 pledged as collateral) 320695 268795 286906 276151 337627
Held-to-maturity, at cost (fair value – $59,641 and $52,430; $17,124 and $20,869 pledged as collateral) 59766 55150 49481 35265 427
Total debt securities 380461 323945 336387 311416 338054
Loans and leases (includes $8,681 and $10,042 measured at fair value and $52,959 and $71,579 pledged as collateral) 881391 928233 907819 926200 940440
Allowance for loan and lease losses -14419 -17428 -24179 -33783 -41885
Loans and leases, net of allowance 866972 910805 883640 892417 898555
Premises and equipment, net 10049 10475 11858 13637 14306 1
Mortgage servicing rights (includes $3,530 and $5,042 measured at fair value) 3530 5052 5851 7510 15177
Goodwill 69777 69844 69976 69967 73861
Intengible assets 4612 5574 6684 8021 9923
Loans held-for-sale (includes $6,801 and $6,656 measured at fair value) 12836 11362 19413 13762 35058
Customer and other receivables 61845 59448 71467 66999 85704
Other assets (includes $13,873 and $18,055 measured at fair value) 112063 124090 164605 145686 182124
Total assets 2104534 2102273 2209974 2129046 2264909
Liabilities:
Deposits in U.S. offices:
Noninterest-bearing 392790 373070 372546 332228 285200
Interest-bearing (includes $1,469 and $1,899 measured at fair value) 660161 667714 654332 624814 645713
Deposits in non-U.S. offices:
Noninterest-bearing 7542 8255 7573 6839 6101
Interest-bearing 58443 70232 70810 69160 73416
Total deposits 1118936 1119271 1105261 1033041 1010430
Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $35,357 and $26,500 measured at fair value) 201277 198106 293259 214864 245359
Trading account liabilities 74192 83469 73587 60508 71985
Derivative liabilities 46909 37407 46016 59520 55914
Short-term borrowings (includes $2,697 and $1,520 measured at fair value) 31172 45999 30731 35698 59962
Accrued expenses and other liabilities (includes $12,055 and $11,233 measured at fair value and $528 and $484 of reserve for unfunded lending commitments) 145438 135662 148579 123049 144580
Long-term debt (includes $36,404 and $47,035 measured at fair value) 243139 249674 275585 372265 448431
Total liabilities 1861063 1869588 1973018 1898945 2036661
Stockholders’ equity:
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,647,790 and 3,407,790 shares 19309 13352 18768 18397 16562
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,516,542,476 and 10,591,808,296 shares 153458 155293 158142 156621 150905
Retained earnings 75024 72497 62843 60520 60849
Accumulated other comprehensive income (loss) -4320 -8457 -2797 -5437 -68
Total equity 243471 232685 236956 230101 228248
Total liabilities and equity 2104534 2102273 2209974 2129046 2264909

Competitor Income Statement

CONSOLIDATED STATEMENT OF INCOME Bank Of America Corp and Subsidiaries
Years Ended December 31,
In millions of dollars, except per share amounts 2014 2013 2012 2011 2010
Revenues
Interest revenue 50886 55020 57400 66236 75497
Interest expense 10934 12755 16744 21620 23974
Net interest revenue 39952 42265 40656 44616 51523
Card income 5944 5826 6121 7184 8108
Service charges 7443 7390 7600 8094 9390
Investment and brokerage services 13284 12282 11393 11826 11622
Investment banking income 6065 6126 5299 5217 5520
Equity investment income 1130 2901 2070 7360 5260
Trading account profits 6309 7056 5870 6697 10054
Mortgage banking income 1563 3874 4750 -8830 2734
Gains on sales of debt securities 1354 1271 1662 3374 2526
Other income (loss) 1203 -49 -2087 7916 3483
Total non-interest revenues 44295 46677 42678 48838 58697
Total revenues, net of interest expense 84247 88942 83334 93454 110220
Provisions for credit losses and for benefits and claims 2275 3556 8169 13410 28435
Operating expenses
Personnel 33787 34719 35648 36965 35149
Occupancy 4260 4475 4570 4748 4716
Equipment 2125 2146 2269 2340 2452
Marketing 1829 1834 1873 2203 1963
Professional fees 2472 2884 3574 3381 2695
Amortization of intangibles 936 1086 1264 1509 1731
Data processing 3144 3170 2961 2652 2544
Telecommunications 1259 1593 1660 1553 1416
Other general operating 25305 17307 18274 21101 16222
Goodwill impairment 0 0 0 3184 12400
Merger and restructuring charges 0 0 0 638 1820
Total operating expenses 75117 69214 72093 80274 83108
Income (loss) before income taxes 6855 16172 3072 -230 -1323
Provision for income taxes (benefit) 2022 4741 -1116 -1676 915
Net Income (Loss) 4833 11431 4188 1446 -2238
Preferred stock dividend 1044 1349 1428 1361 1357
Net Income applicable to common shareholders 3789 10082 2760 85 -3595
Per Common Share Information
Earnings (Loss) 0.36 0.94 0.26 0.01 -0.37
Diluted Earnings (Loss) 0.36 0.9 0.25 0.01 -0.37
Dividends Paid 0.12 0.04 0.04 0.04 0.04
Average common shares issued and outstanding (in thousands) 10527818 10731165 10746028 10142625 9790472
Average diluted common shares issued and outstanding (in thousands) 10584535 11491418 10840854 10254824 9790472

Competitor Ratios

Ratios 2014 2013 2012 2011 2010
Interest Income Growth -7.51% -4.15% -13.34% -12.27%
Interest expense growth -14.28% -23.82% -22.55% -9.82%
Loan loss provision growth -36.02% -56.47% -39.08% -52.84%
Deposit Growth -0.03% 1.27% 6.99% 2.24%
Net Income to Average assets 0.23% 0.53% 0.19% 0.06% N/A
Return on average total shareholders equity 1.70% 4.62% 1.27% 0.04% N/A
Total average equity to total asset 11.11% 10.81% 10.75% 9.98% 9.56%
Operating profit Margin 17.16% 38.26% 7.56% -0.52% -2.57%
Net Profit Margin 12.10% 27.05% 10.30% 3.24% -4.34%
Interest rate 2014 2013 2012 2011 2010
Corporate bond rate 4.16% 4.23% 3.67% 4.64% 4.94%
Conventional mortgages rate 4.17% 3.98% 3.66% 4.46% 4.69%
Net Profit Margin 2014 2013 2012 2011 2010 0.15237638822328256 0.29220182505930375 0.15841438564796337 0.22843519722583441 0.19565939541579006 Corporate bond rate 2014 2013 2012 2011 2010 4.1599999999999998E-2 4.2299999999999997E-2 3.6700000000000003E-2 4.6399999999999997E-2 4.9399999999999999E-2 Conventional mortgages rate 2014 2013 2012 2011 2010 4.1700000000000001E-2 3.9800000000000002E-2 3.6600000000000001E-2 4.4600000000000001E-2 4.6899999999999997E-2