This excerpt taken from the C 10-K filed Feb 28, 2005.
DILUTED EARNINGS PER SHAREINCOME FROM CONTINUING OPERATIONS
[EDGAR REPRESENTATION OF GRAPHIC DATA]
We continued to strengthen our business franchises through strategic acquisitions in 2004. Acquisitions during the year included the KorAm Bank, the consumer finance business of Washington Mutual, Inc., and the announced purchase of First American Bank in Texas, which is pending regulatory approval. Additionally, we maintained our focus on disciplined capital allocation, which led to the announced or completed disposition of businesses that were not part of its long-term core strategy. These included the sale of the Company's equity investment in Samba, the sale of the Transportation Finance business of CitiCapital (resulting in an after-tax gain of approximately $100 million) and the sale of a portion of the electronic funds transfer business (resulting in an after-tax gain of $180 million).
Revenues increased 11% from 2003, reaching $86.2 billion. North America and international revenues increased 10% and 18%, respectively. Revenue increases were driven by both organic growth and new acquisitions and were led by 15% growth in our global consumer businesses. Revenue growth reflected double-digit growth rates in Cards, Transaction Services, Smith Barney and Global Investment Management. Higher equity market valuations led to increased results in Proprietary Investment Activities.
Revenue growth was driven by strong increases in customer balances. Retail Banking loans increased 25%, Consumer Finance loans increased 10%, and Cards receivables increased 19%. Corporate loans increased 16% and Transaction Services assets under custody increased 23%. Smith Barney client assets increased 8% and Private Bank client volumes increased 15%.