in finance home work due 3 pm monday 26
s3u386
saud-11-12-4.xlsxIncome Statement
| 2011 | 2010 | 2009 | 2008 | 2007 | |
| Period End Date | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | 12/31/07 |
| Period Length | 12 Months | 12 Months | 12 Months | 12 Months | 12 Months |
| Stmt Source | 10-K | 10-K | 10-K | 10-K | 10-K |
| Stmt Source Date | 2/24/12 | 2/24/12 | 2/24/12 | 2/25/11 | 2/26/10 |
| Stmt Update Type | Updated | Reclassified | Reclassified | Reclassified | Restated |
| Interest Income, Bank | 72,681.00 | 79,282.00 | 76,398.00 | 106,499.00 | 121,347.00 |
| Interest & Fees on Loans | 50,281.00 | 55,056.00 | 47,457.00 | 62,336.00 | 63,201.00 |
| Interest & Dividends on Investment Securities | 8,320.00 | 11,004.00 | 12,882.00 | 10,718.00 | 13,423.00 |
| Interest on Deposits | 1,750.00 | 1,252.00 | 1,478.00 | 3,074.00 | 3,097.00 |
| Fed Funds Sold/Secs. Sold under Resale Agrmnt. | 3,631.00 | 3,156.00 | 3,084.00 | 9,150.00 | 18,341.00 |
| Other Interest Income | 513 | 735 | 774 | 3,775.00 | 4,811.00 |
| Trading Account Interest | 8,186.00 | 8,079.00 | 10,723.00 | 17,446.00 | 18,474.00 |
| Total Interest Expense | 24,234.00 | 25,096.00 | 27,902.00 | 52,750.00 | 75,958.00 |
| Interest on Deposit | 8,556.00 | 8,371.00 | 10,146.00 | 20,271.00 | 28,402.00 |
| Interest on Other Borrowings | 12,481.00 | 13,917.00 | 14,323.00 | 21,214.00 | 24,553.00 |
| Fed Funds Sold/Secs. Sold under Repurch. Agrmnt. | 3,197.00 | 2,808.00 | 3,433.00 | 11,265.00 | 23,003.00 |
| Non-Interest Income, Bank | 29,906.00 | 32,415.00 | 31,789.00 | -2,150.00 | 31,911.00 |
| Fees & Commissions from Operations | 13,242.00 | 13,889.00 | 16,570.00 | 16,560.00 | 28,928.00 |
| Commissions & Fees from Securities Activities | 7,234.00 | 7,517.00 | 6,068.00 | -23,889.00 | -12,347.00 |
| Insurance Commissions, Fees & Premiums | 2,647.00 | 2,684.00 | 3,020.00 | 3,221.00 | 3,062.00 |
| Credit Card Fees | 3,603.00 | 3,774.00 | 4,110.00 | 4,517.00 | 0 |
| Investment Securities Gains | 1,997.00 | 2,411.00 | 1,996.00 | 679 | 1,168.00 |
| Other Unusual Income | 0 | 0 | 0 | 0 | 0 |
| Other Revenue | 3,437.00 | 3,551.00 | 2,931.00 | -498 | 11,100.00 |
| Total Revenue | 78,353.00 | 86,601.00 | 80,285.00 | 51,599.00 | 77,300.00 |
| Loan Loss Provision | 11,773.00 | 25,194.00 | 38,760.00 | 33,674.00 | 16,832.00 |
| Non-Interest Expense, Bank | 51,956.00 | 48,223.00 | 49,324.00 | 70,280.00 | 59,822.00 |
| Labor & Related Expenses | 25,688.00 | 24,430.00 | 24,987.00 | 31,096.00 | 32,705.00 |
| Restructuring Charge | 0 | 0 | -113 | 1,550.00 | 1,528.00 |
| Other Expense | 26,268.00 | 23,793.00 | 24,450.00 | 37,634.00 | 25,589.00 |
| Income Before Tax | 14,624.00 | 13,184.00 | -7,799.00 | -52,355.00 | 646 |
| Income Tax - Total | 3,521.00 | 2,233.00 | -6,733.00 | -20,326.00 | -2,546.00 |
| Income After Tax | 11,103.00 | 10,951.00 | -1,066.00 | -32,029.00 | 3,192.00 |
| Minority Interest | -148 | -329 | -95 | 343 | -283 |
| Equity In Affiliates | 0 | 0 | 0 | 0 | 0 |
| U.S. GAAP Adjustment | 0 | 0 | 0 | 0 | 0 |
| Net Income Before Extra. Items | 10,955.00 | 10,622.00 | -1,161.00 | -31,686.00 | 2,909.00 |
| Total Extraordinary Items | 112 | -20 | -445 | 4,002.00 | 708 |
| Accounting Change | 0 | 0 | 0 | 0 | 0 |
| Discontinued Operations | 112 | -20 | -445 | 4,002.00 | 708 |
| Net Income | 11,067.00 | 10,602.00 | -1,606.00 | -27,684.00 | 3,617.00 |
Balance Sheet
| 2011 | 2010 | 2009 | 2008 | 2007 | |
| Period End Date | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | 12/31/07 |
| Stmt Source | 10-K | 10-K | 10-K | 10-K | 10-K |
| Stmt Source Date | 2/24/12 | 2/24/12 | 2/25/11 | 2/26/10 | 2/27/09 |
| Stmt Update Type | Updated | Reclassified | Reclassified | Reclassified | Restated |
| Assets | |||||
| Cash & Due From Banks | 28,701.00 | 27,972.00 | 25,472.00 | 29,253.00 | 38,206.00 |
| Other Earning Assets, Total | 1,016,780.00 | 1,044,590.00 | 1,038,328.00 | 988,119.00 | 1,097,424.00 |
| Net Loans | 617,127.00 | 608,139.00 | 555,471.00 | 664,600.00 | 761,876.00 |
| Property/Plant/Equipment, Total - Net | 0 | 0 | 0 | 0 | 0 |
| Goodwill, Net | 25,413.00 | 26,152.00 | 25,392.00 | 27,132.00 | 41,053.00 |
| Intangibles, Net | 9,169.00 | 12,058.00 | 15,244.00 | 19,816.00 | 22,687.00 |
| Long Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Long Term Assets, Total | 0 | 0 | 0 | 0 | 0 |
| Other Assets, Total | 176,688.00 | 194,991.00 | 196,739.00 | 209,550.00 | 226,234.00 |
| Total Assets | 1,873,878.00 | 1,913,902.00 | 1,856,646.00 | 1,938,470.00 | 2,187,480.00 |
| Liabilities and Shareholders' Equity | |||||
| Accounts Payable | 56,696.00 | 51,749.00 | 60,846.00 | 70,916.00 | 84,951.00 |
| Payable/Accrued | 0 | 0 | 0 | 0 | 0 |
| Accrued Expenses | 0 | 0 | 0 | 0 | 0 |
| Total Deposits | 865,936.00 | 844,968.00 | 835,903.00 | 774,185.00 | 826,230.00 |
| Other Bearing Liabilities, Total | 16,000.00 | 28,200.00 | 47,100.00 | 67,400.00 | 86,900.00 |
| Total Short Term Borrowings | 247,814.00 | 258,348.00 | 200,160.00 | 331,984.00 | 450,731.00 |
| Policy Liabilities | 0 | 0 | 0 | 0 | 0 |
| Notes Payable/Short Term Debt | 0 | 0 | 0 | 0 | 0 |
| Current Port. of LT Debt/Capital Leases | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities, Total | 0 | 0 | 0 | 0 | 0 |
| Total Long Term Debt | 312,505.00 | 362,983.00 | 339,919.00 | 292,193.00 | 340,212.00 |
| Long Term Debt | 312,505.00 | 362,983.00 | 339,919.00 | 292,193.00 | 340,212.00 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 |
| Deferred Income Tax | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1,767.00 | 2,321.00 | 2,273.00 | 2,392.00 | 0 |
| Other Liabilities, Total | 195,354.00 | 201,865.00 | 217,745.00 | 257,770.00 | 285,009.00 |
| Total Liabilities | 1,696,072.00 | 1,750,434.00 | 1,703,946.00 | 1,796,840.00 | 2,074,033.00 |
| Redeemable Preferred Stock | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock - Non Redeemable, Net | 312 | 312 | 312 | 70,664.00 | 0 |
| Common Stock | 29 | 29 | 286 | 57 | 55 |
| Additional Paid-In Capital | 105,804.00 | 101,287.00 | 98,142.00 | 19,165.00 | 18,007.00 |
| Retained Earnings (Accumulated Deficit) | 90,520.00 | 79,559.00 | 77,440.00 | 86,521.00 | 121,769.00 |
| Treasury Stock - Common | -1,071.00 | -1,442.00 | -4,543.00 | -9,582.00 | -21,724.00 |
| ESOP Debt Guarantee | 0 | 0 | 0 | 0 | 0 |
| Unrealized Gain (Loss) | -35 | -2,395.00 | -4,347.00 | 0 | 0 |
| Other Equity, Total | -17,753.00 | -13,882.00 | -14,590.00 | -25,195.00 | -4,660.00 |
| Total Equity | 177,806.00 | 163,468.00 | 152,700.00 | 141,630.00 | 113,447.00 |
Ratios
| Year | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | **Numbers is $000,000's except for ratios*** | |
| Total Revenue | $ 72,681 | $ 79,282 | $ 76,635 | $ 106,655 | $ 121,429 | $ 96,497 | ||
| Net Income | $ 11,067 | $ 10,602 | $ (1,606) | $ (27,684) | $ 3,617 | $ 21,538 | ||
| Inerest Expense | $ 24,234 | $ 25,096 | $ 27,721 | $ 52,963 | $ 76,051 | $ 56,943 | ||
| Total Assets | $ 1,873,878 | $ 1,913,902 | $ 1,856,646 | $ 1,938,470 | $ 2,187,480 | $ 1,884,318 | ||
| Total Equity | $ 179,573 | $ 165,789 | $ 154,973 | $ 141,640 | $ 113,447 | $ 119,783 | ||
| Current Assets | $ 617,127 | $ 608,139 | $ 555,471 | $ 664,600 | $ 761,876 | $ 670,252 | ||
| Current Liabilities | $ 865,936 | $ 844,968 | $ 835,903 | $ 774,185 | $ 826,230 | $ 712,041 | ||
| Operating Income | $ 11,103 | $ 10,951 | $ (1,066) | $ (32,094) | $ 2,989 | $ 20,451 | ||
| Year | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | ||
| 1 | Return on Assets | 0.59% | 0.55% | -0.09% | -1.43% | 0.17% | 1.14% | |
| 2 | Return on Equity | 6.16% | 6.39% | -1.04% | -19.55% | 3.19% | 17.98% | |
| 3 | Debt to Equity Ratio | 9.44 | 10.54 | 10.98 | 12.69 | 18.28 | 14.73 | |
| 4 | Current Ratio | 0.71 | 0.72 | 0.66 | 0.86 | 0.92 | 0.94 | |
| 5 | Times Interest Earned | 0.46 | 0.44 | (0.04) | (0.61) | 0.04 | 0.36 | |
| 6 | Equity Multiplier | 10.44 | 11.54 | 11.98 | 13.69 | 19.28 | 15.73 | |
| 7 | Net Profit Margin Ratio | 15.23% | 13.37% | -2.10% | -25.96% | 2.98% | 22.32% | |
| We can see the effects of the banking system collapse of 2008 by examining the ratios of Citigroup corp. As a result of the housing burst of 2006 which encouraged home ownership, questionable trading policies resulted in the questioning of banks solvency. We can see that Citigroup suffered the effect if we look at its return on equity ratios of 2008 and 2009. the effect can also be seen in its net profit ratio for the same two years. Fortunately, the company seemed to be able to come back to profitability in 2011 when it realized a 6.16% return on equity; its best since 2006. | ||||||||
