C » Topics » Sale of MasterCard Shares

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

Sale of MasterCard Shares

In 2007, the Company recorded a $367 million after-tax gain ($581 million pretax) on the sale of approximately 4.9 million MasterCard Class B shares that had been received by Citigroup as a part of the MasterCard initial public offering completed in June 2006. The gain was recorded in the following businesses:

 

In millions of dollars   2007
Pretax
total
  

2007

After-tax

total

   2006
Pretax
total
  

2006

After-tax

total

Global Cards

  $ 466    $ 296    $ 94    $ 59

Consumer Banking

    96      59      27      18

ICG

    19      12      2      1

Total

  $ 581    $ 367    $ 123    $ 78

Sale of MasterCard Shares

In 2007, the Company recorded a $367 million after-tax gain ($581 million pretax) on the sale of approximately 4.9 million MasterCard Class B shares that had been received by Citigroup as a part of the MasterCard initial public offering completed in June 2006. The gain was recorded in the following businesses:

 

In millions of dollars   2007
Pretax
total
  

2007

After-tax

total

   2006
Pretax
total
  

2006

After-tax

total

Global Cards

  $ 466    $ 296    $ 94    $ 59

Consumer Banking

    96      59      27      18

ICG

    19      12      2      1

Total

  $ 581    $ 367    $ 123    $ 78
This excerpt taken from the C 10-K filed Feb 22, 2008.

Sale of MasterCard Shares

In 2007, the Company recorded a $367 million after-tax gain ($581 million pretax) on the sale of approximately 4.9 million MasterCard Class B shares that had been received by Citigroup as a part of the MasterCard Initial Public Offering (IPO) completed in June 2006. The gain was recorded in the following businesses:

 

In millions of dollars   2007
Pretax
total
  

2007

After-tax

total

   2006
Pretax
total
  

2006

After-tax

total

U.S. Cards

  $ 394    $ 250    $ 59    $ 37

U.S. Retail Distribution

    55      33      7      5

International Cards

    72      46      35      22

International Retail

    Banking

    41      26      20      13

Markets & Banking

    19      12      2      1

Total

  $ 581    $ 367    $ 123    $ 78
This excerpt taken from the C 10-Q filed May 4, 2007.

Sale of MasterCard Shares

        During the first quarter of 2007, the Company recorded a $171 million after-tax gain ($268 million pretax) on the sale of approximately 2.955 million of the 4.947 million MasterCard Class B shares which were received by Citigroup as a part of the MasterCard initial public offering completed in June 2006. The after-tax gain was recorded in the following businesses:

In millions of dollars

  Total
U.S. Cards   $ 103
International Cards     42
International Retail Banking     26
   
Total   $ 171
   

"Sale of MasterCard Shares" elsewhere:

Capital One Financial (COF)
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