SUMMARY OF SELECTED FINANCIAL DATA for Citigroup (C)

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C » Topics » SUMMARY OF SELECTED FINANCIAL DATA

This excerpt taken from the C 10-Q filed May 4, 2007.

SUMMARY OF SELECTED FINANCIAL DATA

	Three Months Ended March 31,
In millions of dollars, except per share amounts	Three Months Ended March 31,						% Change
In millions of dollars, except per share amounts	2007			2006			% Change
Net interest revenue	$	10,570		$	9,766		8	%
Non-interest revenue		14,889			12,417		20

Revenues, net of interest expense	$	25,459		$	22,183		15	%
Restructuring expense		1,377			—		—
Other operating expenses		14,194			13,358		6
Provisions for credit losses and for benefits and claims		2,967			1,673		77

Income from continuing operations before taxes and minority interest	$	6,921		$	7,152		(3	)%
Income taxes		1,862			1,537		21
Minority interest, net of taxes		47			60		(22	)

Income from continuing operations	$	5,012		$	5,555		(10	)%
Income from discontinued operations, net of taxes(1)		—			84		NM

Net Income	$	5,012		$	5,639		(11	)%

Earnings per share
Basic:
Income from continuing operations	$	1.02		$	1.13		(10	)%
Net income		1.02			1.14		(11	)
Diluted:
Income from continuing operations		1.01			1.11		(9	)
Net income		1.01			1.12		(10	)
Dividends declared per common share	$	0.54		$	0.49		10

At March 31:
Total assets	$	2,020,966		$	1,586,201		27	%
Total deposits		738,521			627,358		18
Long-term debt		310,768			227,165		37
Mandatorily redeemable securities of subsidiary trusts		9,440			6,166		53
Common stockholders' equity		121,083			113,418		7
Total stockholders' equity		122,083			114,418		7

Ratios:
Return on common stockholders' equity(2)		17.1	%		20.3	%
Return on risk capital(3)		31	%		41	%
Return on invested capital(3)		17	%		20	%

Tier 1 Capital		8.26	%		8.60	%
Total Capital		11.48			11.80
Leverage(4)		4.84			5.22

Common stockholders' equity to assets		5.99	%		7.15	%
Dividends declared(5)		53.5	%		43.8	%
Ratio of earnings to fixed charges and preferred stock dividends		1.39x			1.58x

(1): Discontinued operations relates to residual items from the Company's sale of Citigroup's Travelers Life & Annuity, which closed during the 2005 third quarter, and the Company's sale of substantially all of its Asset Management Business, which closed during the 2005 fourth quarter. See Note 2 on page 87.
(2): The return on average common stockholders' equity is calculated using net income after deducting preferred stock dividends.
(3): Risk capital is a measure of risk levels and the trade-off of risk and return. It is defined as the amount of capital required to absorb potential unexpected economic losses resulting from extremely severe events over a one-year time period. Return on risk capital is calculated as annualized income from continuing operations divided by average risk capital. Invested capital is defined as risk capital plus goodwill and intangible assets excluding mortgage servicing rights (which are a component of risk capital). Return on invested capital is calculated using income adjusted to exclude a net internal charge Citigroup levies on the goodwill and intangible assets of each business offset by each business' share of the rebate of the goodwill and intangible asset charge. Return on risk capital and return on invested capital are non-GAAP performance measures; because they are measures of risk with no basis in GAAP, there is no comparable GAAP measure to which they can be reconciled. Management uses return on risk capital to assess businesses' operational performance and to allocate Citigroup's balance sheet and risk capital capacity. Return on invested capital is used to assess returns on potential acquisitions and to compare long-term performance of businesses with differing proportions of organic and acquired growth. See page 47 for a further discussion of risk capital.
(4): Tier 1 Capital divided by adjusted average assets.
(5): Dividends declared per common share as a percentage of net income per diluted share.
NM: Not meaningful

MANAGEMENT'S DISCUSSION AND ANALYSIS

This excerpt taken from the C 10-Q filed May 5, 2006.

SUMMARY OF SELECTED FINANCIAL DATA

	Three Months Ended March 31,
*In millions of dollars, except per share amounts*	Three Months Ended March 31,						% Change
*In millions of dollars, except per share amounts*	2006			2005			% Change
Revenues, net of interest expense	$	22,183		$	21,196		5	%
Operating expenses		13,358			11,404		17
Provisions for credit losses and for benefits and claims		1,673			2,030		(18	)

Income from continuing operations before taxes and minority interest	$	7,152		$	7,762		(8	)%
Income taxes		1,537			2,484		(38	)
Minority interest, net of taxes		60			163		(63	)

Income from continuing operations	$	5,555		$	5,115		9	%
Income from discontinued operations, net of taxes(1)		84			326		(74	)

Net Income	$	5,639		$	5,441		4	%

Earnings per share
Basic earnings per share:
Income from continuing operations	$	1.13		$	0.99		14	%
Net income		1.14			1.06		8
Diluted earnings per share:
Income from continuing operations		1.11			0.98		13
Net income		1.12			1.04		8
Dividends declared per common share	$	0.49		$	0.44		11

At March 31
Total assets	$	1,586,201		$	1,489,891		6	%
Total deposits		628,157			568,874		10
Long-term debt		227,165			207,935		9
Mandatorily redeemable securities of subsidiary trusts		6,166			6,342		(3	)
Common stockholders' equity		113,418			109,411		4
Total stockholders' equity		114,418			110,536		4

Ratios:
Return on common stockholders' equity(2)		20.3	%		20.3	%
Return on total stockholders' equity(2)		20.2	%		20.1	%
Return on risk capital(3)		41	%		40	%
Return on invested capital(3)		20	%		20	%

Tier 1 capital		8.60	%		8.78	%
Total capital		11.80			12.03
Leverage(4)		5.22			5.19

Common stockholders' equity to assets		7.15	%		7.34	%
Total stockholders' equity to assets		7.21			7.42
Dividends declared(5)		43.8			42.3
Ratio of earnings to fixed charges and preferred stock dividends		1.58	x		2.02	x

(1): Discontinued operations for the three months ended March 31, 2006 and 2005 includes the operations described in the Company's June 24, 2005 announced agreement for the sale of substantially all of its Asset Management business to Legg Mason. The majority of the transaction closed on December 1, 2005. Discontinued operations also includes the operations described in the Company's January 31, 2005 announced agreement for the sale of its Travelers Life & Annuity business, substantially all of its international insurance business, and its Argentine pension business to MetLife, Inc. This transaction closed on July 1, 2005. See further discussion regarding discontinued operations in Note 3 to the Consolidated Financial Statements on page 83.
(2): The return on average common stockholders' equity and return on average total stockholders' equity are calculated using net income after deducting preferred stock dividends.
(3): Risk capital is defined as the amount of capital required to absorb potential unexpected economic losses resulting from extremely severe events over a one-year time period. Return on risk capital is calculated as annualized income from continuing operations divided by average risk capital. The segment and product returns are based on net income. Invested capital is defined as risk capital plus goodwill and intangible assets excluding mortgage servicing rights, which are a component of risk capital. Return on invested capital is calculated using income adjusted to exclude a net internal charge Citigroup levies on the goodwill and intangible assets of each business offset by each business' share of the rebate of the goodwill and intangible asset charge. Return on risk capital and return on invested capital are non-GAAP performance measures. Management uses return on risk capital to assess businesses' operational performance and to determine allocation of capital. Return on invested capital is used to assess returns on potential acquisitions and divestitures and to compare long-term performance of businesses with differing proportions of organic and acquired growth. For a further discussion on risk capital, see page 45.
(4): Tier 1 capital divided by adjusted average assets.
(5): Dividends declared per common share as a percentage of net income per diluted share.

EXCERPTS ON THIS PAGE:

10-Q	May 4, 2007

10-Q	May 5, 2006

Citigroup (C)

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