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C » Topics » Citigroup Net Income-Product View

This excerpt taken from the C 10-Q filed Nov 4, 2005.

Citigroup Net Income—Product View

 
   Three Months Ended
September 30,
    
   Nine Months Ended
September 30,
    
  
In millions of dollars
   %
Change
   %
Change
  
  2005
   2004(1)
   2005(1)
   2004(1)
  
Global Consumer                                  
Cards   $ 1,182   $ 1,267   (7 )% $ 3,335   $ 3,259   2 %
Consumer Finance     495     643   (23 )   1,770     1,804   (2 )
Retail Banking     1,111     1,271   (13 )   3,661     3,631   1  
Other(2)     (65 )   (62 ) (5 )   (303 )   148   NM  
   
 
 
 
 
 
 
Total Global Consumer   $ 2,723   $ 3,119   (13 )% $ 8,463   $ 8,842   (4 )%
   
 
 
 
 
 
 
Corporate and Investment Banking                                  
Capital Markets and Banking   $ 1,424   $ 1,159   23 % $ 3,906   $ 4,138   (6 )%
Transaction Services     327     286   14     860     783   10  
Other(2) (3)     46     7   NM     82     (4,566 ) NM  
   
 
 
 
 
 
 
Total Corporate and Investment Banking   $ 1,797   $ 1,452   24 % $ 4,848   $ 355   NM  
   
 
 
 
 
 
 
Global Wealth Management                                  
Smith Barney   $ 227   $ 198   15 % $ 663   $ 661   —  
Private Bank     79     136   (42 )   284     447   (36 )%
   
 
 
 
 
 
 
Total Global Wealth Management   $ 306   $ 334   (8 )% $ 947   $ 1,108   (15 )%
   
 
 
 
 
 
 
Alternative Investments   $ 339   $ 117   NM   $ 1,086   $ 428   NM  

Corporate/Other
 
 
(177
)
 
4
 
NM
 
 
(510
)
 
173
 
NM
 
   
 
 
 
 
 
 
Income from Continuing Operations   $ 4,988   $ 5,026   (1 )% $ 14,834   $ 10,906   36 %

Discontinued Operations(4)
 
 
2,155
 
 
282
 
NM
 
 
2,823
 
 
819
 
NM
 
   
 
 
 
 
 
 
Net Income   $ 7,143   $ 5,308   35 % $ 17,657   $ 11,725   51 %
   
 
 
 
 
 
 
(1)
Reclassified to conform to the current period's presentation.
(2)
The 2004 second quarter includes a $756 million after-tax gain ($378 million in Consumer Other and $378 million in CIB Other) related to the sale of Samba.
(3)
The 2004 second quarter includes a $4.95 billion after-tax charge related to the WorldCom and Litigation Reserve Charge.
(4)
See Footnotes (2) and (3) to the table on page 6.
NM
Not meaningful

7

This excerpt taken from the C 10-K filed Feb 28, 2005.

Citigroup Net Income—Product View

 
   2004
   2003(1)
   2002(1)
  
 
   In millions of dollars

  
Global Consumer                    
  Cards   $ 4,700   $ 3,590   $ 3,043  
  Consumer Finance     2,388     1,979     2,258  
  Retail Banking     4,628     4,046     2,897  
  Other(2)     95     (124 )   (154 )
   
 
 
 
  Total Global Consumer     11,811     9,491     8,044  
   
 
 
 
Global Corporate and Investment Bank                    
  Capital Markets and Banking     5,395     4,642     3,995  
  Transaction Services     1,041     745     569  
  Other(3)(4)     (4,398 )   (16 )   (1,392 )
   
 
 
 
  Total Global Corporate and Investment Bank     2,038     5,371     3,172  
   
 
 
 
Global Wealth Management                    
  Smith Barney     881     792     821  
  Private Bank(5)     318     551     461  
   
 
 
 
  Total Global Wealth Management     1,199     1,343     1,282  
   
 
 
 
Global Investment Management                    
  Life Insurance and Annuities     1,073     792     642  
  Asset Management     238     324     351  
   
 
 
 
  Total Global Investment Management     1,311     1,116     993  
   
 
 
 
Proprietary Investment Activities     743     366     (50 )
Corporate/Other     (56 )   166     7  
Income from Continuing Operations     17,046     17,853     13,448  
Income from Discontinued Operations(6)     —     —     1,875  
Cumulative Effect of Accounting Change(7)     —     —     (47 )
   
 
 
 
Total Net Income   $ 17,046   $ 17,853   $ 15,276  
   
 
 
 
(1)
Reclassified to conform to the 2004 presentation. See Note 4 to the Consolidated Financial Statements for assets by segment.

(2)
2004 includes a $378 million after-tax gain related to the sale of Samba.

(3)
2002 includes a $1.3 billion after-tax charge related to the establishment of reserves for regulatory settlements and related civil litigation.

(4)
2004 includes a $378 million after-tax gain related to the sale of Samba and a $4.95 billion after-tax charge related to the WorldCom and Litigation Reserve Charge.

(5)
2004 includes a $244 million after-tax charge related to the exit plan implementation for the Company's Private Bank operations in Japan.

(6)
On August 20, 2002, Citigroup completed the distribution to its stockholders of a majority portion of its remaining ownership interest in TPC. Following the distribution, Citigroup began accounting for TPC as discontinued operations. See Note 3 to the Consolidated Financial Statements.

(7)
Accounting change in 2002 of ($47) million includes the adoption of the remaining provisions of SFAS 142. See Note 1 to the Consolidated Financial Statements.

EXCERPTS ON THIS PAGE:

10-Q
Nov 4, 2005
10-K
Feb 28, 2005

RELATED TOPICS for C:

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