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C » Topics » 2008 Re-engineering Projects Restructuring Charges

This excerpt taken from the C 8-K filed Oct 13, 2009.

2008 Re-engineering Projects Restructuring Charges

 

 

 

Severance

 

Contract
termination

 

Asset
write-

 

Employee
termination

 

Total

 

In millions of dollars

 

SFAS 112 (1)

 

SFAS 146 (2)

 

Costs

 

downs (3)

 

cost

 

Citigroup (4)

 

Total Citigroup (pretax)

 

 

 

 

 

 

 

 

 

 

 

 

 

Original restructuring charge

 

$

1,254

 

$

79

 

$

55

 

$

123

 

$

19

 

$

1,530

 

Utilization

 

(114

)

(3

)

(2

)

(100

)

—

 

(219

)

Balance at December 31, 2008

 

$

1,140

 

$

76

 

$

53

 

$

23

 

$

19

 

$

1,311

 

 

This excerpt taken from the C 10-Q filed May 11, 2009.

2008 Re-engineering Projects Restructuring Charges

 
   Severance    
    
    
    
  
 
   Contract
termination
costs 		  Asset
write-
downs(3) 		  Employee
termination
cost 		  Total
Citigroup(4) 		 
In millions of dollars   SFAS 112(1)   SFAS 146(2)  

Total Citigroup (pretax)

                                      

Original restructuring charge

  $ 1,254   $ 295   $ 55   $ 123   $ 19   $ 1,746  
                           

Utilization

     (114 )   (3 )   (2 )   (100 )   —     (219 )
                           

Balance at December 31, 2008

   $ 1,140   $ 292   $ 53   $ 23   $ 19   $ 1,527  
                           

Additional charge

   $ 14   $ 6   $ 4   $ 5   $ —   $ 29  

Foreign exchange

     (14 )   2     —     (12 )   (1 )   (25 )

Utilization

     (541 )   (294 )   (11 )   (7 )   (5 )   (858 )

Changes in estimates

     (38 )   (1 )   —     —     —     (39 )
                           

Balance at March 31, 2009

   $ 561   $ 5   $ 46   $ 9   $ 13   $ 634  
                           

79

These excerpts taken from the C 10-K filed Feb 27, 2009.

2008 Re-engineering Projects Restructuring Charges

 

    Severance                         
In millions of dollars   SFAS 112 (1)     SFAS 146 (2)    

Contract

termination

costs

    

Asset

write-

downs (3)

    

Employee

termination

cost

   

Total

Citigroup (4)

  

Total Citigroup (pretax)

             

Original restructuring charge

   $1,254     $295     $55     $ 123     $19    $ 1,746  

Utilization

   (114 )   (3 )   (2 )     (100 )   —      (219 )

Balance at December 31, 2008

   $1,140     $292     $53     $ 23     $19    $ 1,527  

2008 Re-engineering Projects Restructuring Charges

 

    Severance                         
In millions of dollars   SFAS 112 (1)     SFAS 146 (2)    

Contract

termination

costs

    

Asset

write-

downs (3)

    

Employee

termination

cost

   

Total

Citigroup (4)

  

Total Citigroup (pretax)

             

Original restructuring charge

   $1,254     $295     $55     $ 123     $19    $ 1,746  

Utilization

   (114 )   (3 )   (2 )     (100 )   —      (219 )

Balance at December 31, 2008

   $1,140     $292     $53     $ 23     $19    $ 1,527  

EXCERPTS ON THIS PAGE:

8-K
Oct 13, 2009
10-Q
May 11, 2009
10-K (2 sections)
Feb 27, 2009

RELATED TOPICS for C:

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