-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, W0q5QhNkDC5iqooVa1lmaRHacvO+ObGjmWQ62VGU75sn0wyCk6SxLJcQfDdpqodZ 1A2XA/l0RxoA6eEeEplFFQ== 0000839947-05-000004.txt : 20050121 0000839947-05-000004.hdr.sgml : 20050121 20050121103621 ACCESSION NUMBER: 0000839947-05-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050120 ITEM INFORMATION: Other Events FILED AS OF DATE: 20050121 DATE AS OF CHANGE: 20050121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITICORP CENTRAL INDEX KEY: 0000020405 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 132614988 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05738 FILM NUMBER: 05540197 BUSINESS ADDRESS: STREET 1: 399 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10043 BUSINESS PHONE: 2125591000 MAIL ADDRESS: STREET 1: 425 PARK AVE- 2ND F STREET 2: ATTN: LEGAL AFFAIRS OFFICE CITY: NEW YORK STATE: NY ZIP: 10043 FORMER COMPANY: FORMER CONFORMED NAME: FIRST NATIONAL CITY CORP DATE OF NAME CHANGE: 19740414 FORMER COMPANY: FORMER CONFORMED NAME: CITY BANK OF NEW YORK NATIONAL ASSOCIATI DATE OF NAME CHANGE: 19680903 8-K 1 jan8k.txt 4TH QUARTER EARNINGS 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) January 20, 2005 --------------------------- Citicorp - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-5738 86-1515595 - --------------- ----------- ------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 399 Park Avenue, New York, New York 10043 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (212) 559-1000 - -------------------------------------------------------------------------------- (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01 Other Events. Results of Operations (Unaudited) This report summarizes the results of operations of Citicorp and its subsidiaries for the three- and twelve-month periods ended December 31, 2004 and December 31, 2003. Citigroup Inc., the ultimate parent company of Citicorp, filed a Current Report on Form 8-K dated January 20, 2005. That report contains certain additional information about Citicorp's businesses. CONSOLIDATED STATEMENTS OF INCOME CITICORP AND SUBSIDIARIES (Unaudited) (In Millions of Dollars) Fourth Quarter Twelve Months -------------------- ----------------- 2004 2003 (1) 2004 2003 -------------------- ----------------- INTEREST REVENUE Loans, including Fees $ 11,409 $ 10,197 $44,010 $37,969 Deposits with Banks (75) 108 345 819 Federal Funds Sold and Securities Purchased Under Agreements to Resell 144 84 429 322 Investments, including Dividends 1,566 1,150 5,682 4,760 Trading Account Assets 522 389 1,948 1,485 Loans Held-For-Sale 267 146 1,014 919 -------------------- ------------------ 13,833 12,074 53,428 46,274 -------------------- ------------------ INTEREST EXPENSE Deposits 2,657 1,503 9,112 7,151 Trading Account Liabilities 21 16 98 62 Purchased Funds and Other Borrowings 783 592 2,363 1,624 Long-Term Debt 1,156 922 4,283 3,637 -------------------- ------------------ 4,617 3,033 15,856 12,474 -------------------- ------------------ NET INTEREST REVENUE 9,216 9,041 37,572 33,800 -------------------- ------------------ POLICYHOLDER BENEFITS AND CLAIMS 149 136 524 545 PROVISION FOR CREDIT LOSSES 1,386 2,195 6,234 8,045 -------------------- ------------------ TOTAL BENEFITS, CLAIMS, AND 1,535 2,331 6,758 8,590 CREDIT LOSSES -------------------- ------------------ NET INTEREST REVENUE AFTER BENEFITS, CLAIMS, AND CREDIT LOSSES 7,681 6,710 30,814 25,210 -------------------- ------------------ FEES, COMMISSIONS, AND OTHER REVENUE Fees and Commissions 3,485 3,453 12,914 12,048 Foreign Exchange 971 918 2,503 3,530 Trading Account (153) (325) 306 (546) Investment Transactions 150 (66) 676 254 Other Revenue 2,338 1,500 8,931 6,090 -------------------- ------------------ 6,791 5,480 25,330 21,376 -------------------- ------------------ OPERATING EXPENSE Salaries 3,104 2,722 11,621 10,500 Employee Benefits 716 587 2,691 2,301 -------------------- ------------------ Total Employee-Related Expenses 3,820 3,309 14,312 12,801 Net Premises and Equipment 1,129 975 4,241 3,646 Restructuring-Related Items (2) (21) (5) (45) Other Expense 3,252 2,861 13,191 10,538 -------------------- ------------------ 8,199 7,124 31,739 26,940 -------------------- ------------------ INCOME BEFORE INCOME TAXES AND MINORITY INTEREST 6,273 5,066 24,405 19,646 INCOME TAXES 1,769 1,488 7,294 5,827 MINORITY INTEREST, NET OF INCOME TAXES 54 39 203 278 -------------------- ------------------ NET INCOME $ 4,450 $ 3,539 $16,908 $13,541 ==================== ================== (1) Reclassified to conform to current period's presentation. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CITICORP (Registrant) By: /s/ William P. Hannon --------------------- William P. Hannon Controller Dated: January 21, 2005 -----END PRIVACY-ENHANCED MESSAGE-----