CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Statements of Income and Comprehensive Income



	Three Months Ended September 30, 2017
In millions of dollars	Citigroup parent company			CGMHI			Other Citigroup subsidiaries and eliminations			Consolidating adjustments			Citigroup consolidated
Revenues
Dividends from subsidiaries	$	5,360		$	—		$	—		$	(5,360	)	$	—
Interest revenue	—			1,439			14,382			—			15,821
Interest revenue—intercompany	1,040			313			(1,353		)	—			—
Interest expense	1,195			642			2,542			—			4,379
Interest expense—intercompany	240			581			(821		)	—			—
Net interest revenue	$	(395	)	$	529		$	11,308		$	—		$	11,442
Commissions and fees	$	—		$	1,284		$	1,647		$	—		$	2,931
Commissions and fees—intercompany	—			13			(13		)	—			—
Principal transactions	610			688			872			—			2,170
Principal transactions—intercompany	168			(249		)	81			—			—
Other income	(860		)	649			1,841			—			1,630
Other income—intercompany	33			(21		)	(12		)	—			—
Total non-interest revenues	$	(49	)	$	2,364		$	4,416		$	—		$	6,731
Total revenues, net of interest expense	$	4,916		$	2,893		$	15,724		$	(5,360	)	$	18,173
Provisions for credit losses and for benefits and claims	$	—		$	(1	)	$	2,000		$	—		$	1,999
Operating expenses
Compensation and benefits	$	(3	)	$	1,104		$	4,203		$	—		$	5,304
Compensation and benefits—intercompany	46			—			(46		)	—			—
Other operating	(17		)	457			4,427			—			4,867
Other operating—intercompany	8			517			(525		)	—			—
Total operating expenses	$	34		$	2,078		$	8,059		$	—		$	10,171
Equity in undistributed income of subsidiaries	$	(1,015	)	$	—		$	—		$	1,015		$	—
Income (loss) from continuing operations before income taxes	$	3,867		$	816		$	5,665		$	(4,345	)	$	6,003
Provision (benefit) for income taxes	(266		)	324			1,808			—			1,866
Income (loss) from continuing operations	$	4,133		$	492		$	3,857		$	(4,345	)	$	4,137
Loss from discontinued operations, net of taxes	—			—			(5		)	—			(5		)
Net income before attribution of noncontrolling interests	$	4,133		$	492		$	3,852		$	(4,345	)	$	4,132
Noncontrolling interests	—			—			(1		)	—			(1		)
Net income (loss)	$	4,133		$	492		$	3,853		$	(4,345	)	$	4,133
Comprehensive income
Add: Other comprehensive income (loss)	$	8		$	(84	)	$	(762	)	$	846		$	8
Total Citigroup comprehensive income (loss)	$	4,141		$	408		$	3,091		$	(3,499	)	$	4,141
Add: Other comprehensive income attributable to noncontrolling interests	$	—		$	—		$	12		$	—		$	12
Add: Net income attributable to noncontrolling interests	—			—			(1		)	—			(1		)
Total comprehensive income (loss)	$	4,141		$	408		$	3,102		$	(3,499	)	$	4,152

Condensed Consolidating Statements of Income and Comprehensive Income



	Three Months Ended September 30, 2016
In millions of dollars	Citigroup parent company			CGMHI				Other Citigroup subsidiaries and eliminations			Consolidating adjustments			Citigroup consolidated
Revenues
Dividends from subsidiaries	$	4,000		$	—			$	—		$	(4,000	)	$	—
Interest revenue	2			1,158				13,493			—			14,653
Interest revenue—intercompany	695			148				(843		)	—			—
Interest expense	1,102			345				1,727			—			3,174
Interest expense—intercompany	61			401				(462		)	—			—
Net interest revenue	$	(466	)	$	560			$	11,385		$	—		$	11,479
Commissions and fees	$	—		$	1,062			$	1,582		$	—		$	2,644
Commissions and fees—intercompany	—			63				(63		)	—			—
Principal transactions	(1,103		)	1,600				1,741			—			2,238
Principal transactions—intercompany	977			(470		)		(507		)	—			—
Other income	482			51				866			—			1,399
Other income—intercompany	(501		)	51				450			—			—
Total non-interest revenues	$	(145	)	$	2,357			$	4,069		$	—		$	6,281
Total revenues, net of interest expense	$	3,389		$	2,917			$	15,454		$	(4,000	)	$	17,760
Provisions for credit losses and for benefits and claims	$	—		$	—			$	1,736		$	—		$	1,736
Operating expenses
Compensation and benefits	$	26		$	1,150			$	4,027		$	—		$	5,203
Compensation and benefits—intercompany	8			—				(8		)	—			—
Other operating	(103		)	444				4,860			—			5,201
Other operating—intercompany	133			379				(512		)	—			—
Total operating expenses	$	64		$	1,973			$	8,367		$	—		$	10,404
Equity in undistributed income of subsidiaries	$	120		$	—			$	—		$	(120	)	$	—
Income (loss) from continuing operations before income taxes	$	3,445		$	944			$	5,351		$	(4,120	)	$	5,620
Provision (benefit) for income taxes	(395		)	345				1,783			—			1,733
Income (loss) from continuing operations	$	3,840		$	599			$	3,568		$	(4,120	)	$	3,887
Loss from discontinued operations, net of taxes	—			—				(30		)	—			(30		)
Net income (loss) before attribution of noncontrolling interests	$	3,840		$	599			$	3,538		$	(4,120	)	$	3,857
Noncontrolling interests	—			(9		)		26			—			17
Net income (loss)	$	3,840		$	608			$	3,512		$	(4,120	)	$	3,840
Comprehensive income
Add: Other comprehensive income (loss)	$	(1,078	)	$	(133	)		$	(1,003	)	$	1,136		$	(1,078	)
Total Citigroup comprehensive income (loss)	$	2,762		$	475			$	2,509		$	(2,984	)	$	2,762
Add: Other comprehensive income attributable to noncontrolling interests	$	—		$	—		—	$	10		$	—		$	10
Add: Net income attributable to noncontrolling interests	—			(9		)		26			—			17
Total comprehensive income (loss)	$	2,762		$	466			$	2,545		$	(2,984	)	$	2,789

Condensed Consolidating Statements of Income and Comprehensive Income



	Nine Months Ended September 30, 2017
In millions of dollars	Citigroup parent company			CGMHI			Other Citigroup subsidiaries and eliminations			Consolidating adjustments			Citigroup consolidated
Revenues
Dividends from subsidiaries	$	11,625		$	—		$	—		$	(11,625	)	$	—
Interest revenue	—			3,870			41,575			—			45,445
Interest revenue—intercompany	2,909			847			(3,756		)	—			—
Interest expense	3,549			1,584			6,848			—			11,981
Interest expense—intercompany	593			1,660			(2,253		)	—			—
Net interest revenue	$	(1,233	)	$	1,473		$	33,224		$	—		$	33,464
Commissions and fees	$	—		$	3,818		$	4,809		$	—		$	8,627
Commissions and fees—intercompany	(1		)	123			(122		)	—			—
Principal transactions	1,569			2,692			3,493			—			7,754
Principal transactions—intercompany	768			(641		)	(127		)	—			—
Other income	(2,500		)	810			6,039			—			4,349
Other income—intercompany	71			6			(77		)	—			—
Total non-interest revenues	$	(93	)	$	6,808		$	14,015		$	—		$	20,730
Total revenues, net of interest expense	$	10,299		$	8,281		$	47,239		$	(11,625	)	$	54,194
Provisions for credit losses and for benefits and claims	$	—		$	—		$	5,378		$	—		$	5,378
Operating expenses
Compensation and benefits	$	(18	)	$	3,578		$	12,741		$	—		$	16,301
Compensation and benefits—intercompany	97			—			(97		)	—			—
Other operating	(333		)	1,306			13,880			—			14,853
Other operating—intercompany	(41		)	1,487			(1,446		)	—			—
Total operating expenses	$	(295	)	$	6,371		$	25,078		$	—		$	31,154
Equity in undistributed income of subsidiaries	$	755		$	—		$	—		$	(755	)	$	—
Income (loss) from continuing operations before income taxes	$	11,349		$	1,910		$	16,783		$	(12,380	)	$	17,662
Provision (benefit) for income taxes	(746		)	800			5,470			—			5,524
Income (loss) from continuing operations	$	12,095		$	1,110		$	11,313		$	(12,380	)	$	12,138
Loss from discontinued operations, net of taxes	—			—			(2		)	—			(2		)
Net income (loss) before attribution of noncontrolling interests	$	12,095		$	1,110		$	11,311		$	(12,380	)	$	12,136
Noncontrolling interests	—			—			41			—			41
Net income (loss)	$	12,095		$	1,110		$	11,270		$	(12,380	)	$	12,095
Comprehensive income
Add: Other comprehensive income (loss)	$	1,986		$	(142	)	$	(4,638	)	$	4,780		$	1,986
Total Citigroup comprehensive income (loss)	$	14,081		$	968		$	6,632		$	(7,600	)	$	14,081
Add: other comprehensive income attributable to noncontrolling interests	$	—		$	—		$	82		$	—		$	82
Add: Net income attributable to noncontrolling interests	—			—			41			—			41
Total comprehensive income (loss)	$	14,081		$	968		$	6,755		$	(7,600	)	$	14,204

Condensed Consolidating Statements of Income and Comprehensive Income



	Nine Months Ended September 30, 2016
In millions of dollars	Citigroup parent company			CGMHI			Other Citigroup subsidiaries and eliminations			Consolidating adjustments			Citigroup consolidated
Revenues
Dividends from subsidiaries	$	9,700		$	—		$	—		$	(9,700	)	$	—
Interest revenue	5			3,555			39,616			—			43,176
Interest revenue—intercompany	2,235			423			(2,658		)	—			—
Interest expense	3,266			1,110			4,858			—			9,234
Interest expense—intercompany	140			1,246			(1,386		)	—			—
Net interest revenue	$	(1,166	)	$	1,622		$	33,486		$	—		$	33,942
Commissions and fees	$	—		$	3,141		$	4,691		$	—		$	7,832
Commissions and fees—intercompany	(19		)	33			(14		)	—			—
Principal transactions	(1,498		)	3,857			3,535			—			5,894
Principal transactions—intercompany	1,018			(1,513		)	495			—			—
Other income	(3,197		)	178			8,214			—			5,195
Other income—intercompany	3,495			250			(3,745		)	—			—
Total non-interest revenues	$	(201	)	$	5,946		$	13,176		$	—		$	18,921
Total revenues, net of interest expense	$	8,333		$	7,568		$	46,662		$	(9,700	)	$	52,863
Provisions for credit losses and for benefits and claims	$	—		$	—		$	5,190		$	—		$	5,190
Operating expenses
Compensation and benefits	$	18		$	3,641		$	12,329		$	—		$	15,988
Compensation and benefits—intercompany	34			—			(34		)	—			—
Other operating	377			1,242			13,689			—			15,308
Other operating—intercompany	213			1,008			(1,221		)	—			—
Total operating expenses	$	642		$	5,891		$	24,763		$	—		$	31,296
Equity in undistributed income of subsidiaries	$	2,773		$	—		$	—		$	(2,773	)	$	—
Income (loss) from continuing operations before income taxes	$	10,464		$	1,677		$	16,709		$	(12,473	)	$	16,377
Provision (benefit) for income taxes	(875		)	539			5,271			—			4,935
Income (loss) from continuing operations	$	11,339		$	1,138		$	11,438		$	(12,473	)	$	11,442
Loss from discontinued operations, net of taxes	—			—			(55		)	—			(55		)
Net income (loss) before attribution of noncontrolling interests	$	11,339		$	1,138		$	11,383		$	(12,473	)	$	11,387
Noncontrolling interests	—			(10		)	58			—			48
Net income (loss)	$	11,339		$	1,148		$	11,325		$	(12,473	)	$	11,339
Comprehensive income
Add: Other comprehensive income (loss)	$	2,166		$	(28	)	$	171		$	(143	)	$	2,166
Total Citigroup comprehensive income (loss)	$	13,505		$	1,120		$	11,496		$	(12,616	)	$	13,505
Add: Other comprehensive income attributable to noncontrolling interests	$	—		$	—		$	(13	)	$	—		$	(13	)
Add: Net income attributable to noncontrolling interests	—			(10		)	58			—			48
Total comprehensive income (loss)	$	13,505		$	1,110		$	11,541		$	(12,616	)	$	13,540

Condensed Consolidating Balance Sheet



	September 30, 2017
In millions of dollars	Citigroup parent company		CGMHI		Other Citigroup subsidiaries and eliminations			Consolidating adjustments			Citigroup consolidated
Assets
Cash and due from banks	$	—	$	728	$	21,876		$	—		$	22,604
Cash and due from banks—intercompany	179		3,791		(3,970		)	—			—
Federal funds sold and resale agreements	—		202,366		50,242			—			252,608
Federal funds sold and resale agreements—intercompany	—		14,980		(14,980		)	—			—
Trading account assets	—		137,196		121,711			—			258,907
Trading account assets—intercompany	215		1,208		(1,423		)	—			—
Investments	28		162		354,484			—			354,674
Loans, net of unearned income	—		1,364		651,819			—			653,183
Loans, net of unearned income—intercompany	—		—		—			—			—
Allowance for loan losses	—		—		(12,366		)	—			(12,366		)
Total loans, net	$	—	$	1,364	$	639,453		$	—		$	640,817
Advances to subsidiaries	$	132,197	$	—	$	(132,197	)	$	—		$	—
Investments in subsidiaries	229,142		—		—			(229,142		)	—
Other assets ⁽¹⁾	24,032		58,665		276,826			—			359,523
Other assets—intercompany	15,541		49,032		(64,573		)	—			—
Total assets	$	401,334	$	469,492	$	1,247,449		$	(229,142	)	$	1,889,133
Liabilities and equity
Deposits	$	—	$	—	$	964,038		$	—		$	964,038
Deposits—intercompany	—		—		—			—			—
Federal funds purchased and securities loaned or sold	—		135,520		25,762			—			161,282
Federal funds purchased and securities loaned or sold—intercompany	—		19,127		(19,127		)	—			—
Trading account liabilities	—		91,058		47,762			—			138,820
Trading account liabilities—intercompany	18		1,071		(1,089		)	—			—
Short-term borrowings	246		3,221		34,682			—			38,149
Short-term borrowings—intercompany	—		63,197		(63,197		)	—			—
Long-term debt	151,914		17,758		63,001			—			232,673
Long-term debt—intercompany	—		30,609		(30,609		)	—			—
Advances from subsidiaries	17,947		—		(17,947		)	—			—
Other liabilities	2,790		62,950		59,809			—			125,549
Other liabilities—intercompany	785		11,281		(12,066		)	—			—
Stockholders’ equity	227,634		33,700		196,430			(229,142		)	228,622
Total liabilities and equity	$	401,334	$	469,492	$	1,247,449		$	(229,142	)	$	1,889,133


(1)	Other assets for Citigroup parent company at September 30, 2017 included $17.8 billion of placements to Citibank and its branches, of which $16.0 billion had a remaining term of less than 30 days.

Condensed Consolidating Balance Sheet



	December 31, 2016
In millions of dollars	Citigroup parent company		CGMHI		Other Citigroup subsidiaries and eliminations			Consolidating adjustments			Citigroup consolidated
Assets
Cash and due from banks	$	—	$	870	$	22,173		$	—		$	23,043
Cash and due from banks—intercompany	142		3,820		(3,962		)	—			—
Federal funds sold and resale agreements	—		196,236		40,577			—			236,813
Federal funds sold and resale agreements—intercompany	—		12,270		(12,270		)	—			—
Trading account assets	6		121,484		122,435			—			243,925
Trading account assets—intercompany	1,173		907		(2,080		)	—			—
Investments	173		335		352,796			—			353,304
Loans, net of unearned income	—		575		623,794			—			624,369
Loans, net of unearned income—intercompany	—		—		—			—			—
Allowance for loan losses	—		—		(12,060		)	—			(12,060		)
Total loans, net	$	—	$	575	$	611,734		$	—		$	612,309
Advances to subsidiaries	$	143,154	$	—	$	(143,154	)	$	—		$	—
Investments in subsidiaries	226,279		—		—			(226,279		)	—
Other assets⁽¹⁾	23,734		46,095		252,854			—			322,683
Other assets—intercompany	27,845		38,207		(66,052		)	—			—
Total assets	$	422,506	$	420,799	$	1,175,051		$	(226,279	)	$	1,792,077
Liabilities and equity
Deposits	$	—	$	—	$	929,406		$	—		$	929,406
Deposits—intercompany	—		—		—			—			—
Federal funds purchased and securities loaned or sold	—		122,320		19,501			—			141,821
Federal funds purchased and securities loaned or sold—intercompany	—		25,417		(25,417		)	—			—
Trading account liabilities	—		87,714		51,331			—			139,045
Trading account liabilities—intercompany	1,006		868		(1,874		)	—			—
Short-term borrowings	—		1,356		29,345			—			30,701
Short-term borrowings—intercompany	—		35,596		(35,596		)	—			—
Long-term debt	147,333		8,128		50,717			—			206,178
Long-term debt—intercompany	—		41,287		(41,287		)	—			—
Advances from subsidiaries	41,258		—		(41,258		)	—			—
Other liabilities	3,466		57,430		57,887			—			118,783
Other liabilities—intercompany	4,323		7,894		(12,217		)	—			—
Stockholders’ equity	225,120		32,789		194,513			(226,279		)	226,143
Total liabilities and equity	$	422,506	$	420,799	$	1,175,051		$	(226,279	)	$	1,792,077


(1)	Other assets for Citigroup parent company at December 31, 2016 included $20.7 billion of placements to Citibank and its branches, of which $6.8 billion had a remaining term of less than 30 days.

Condensed Consolidating Statement of Cash Flows



	Nine Months Ended September 30, 2017
In millions of dollars	Citigroup parent company			CGMHI			Other Citigroup subsidiaries and eliminations			Consolidating adjustments		Citigroup consolidated
Net cash provided by (used in) operating activities of continuing operations	$	15,381		$	(15,237	)	$	(3,449	)	$	—	$	(3,305	)
Cash flows from investing activities of continuing operations
Purchases of investments	$	—		$	—		$	(151,362	)	$	—	$	(151,362	)
Proceeds from sales of investments	132			—			89,592			—		89,724
Proceeds from maturities of investments	—			—			67,166			—		67,166
Change in deposits with banks	—			10,972			(37,026		)	—		(26,054		)
Change in loans	—			—			(41,569		)	—		(41,569		)
Proceeds from sales and securitizations of loans	—			—			7,019			—		7,019
Proceeds from significant disposals	—			—			3,411			—		3,411
Change in federal funds sold and resales	—			(8,840		)	(6,955		)	—		(15,795		)
Changes in investments and advances—intercompany	13,269			(5,439		)	(7,830		)	—		—
Other investing activities	—			—			(2,210		)	—		(2,210		)
Net cash provided by (used in) investing activities of continuing operations	$	13,401		$	(3,307	)	$	(79,764	)	$	—	$	(69,670	)
Cash flows from financing activities of continuing operations
Dividends paid	$	(2,639	)	$	—		$	—		$	—	$	(2,639	)
Treasury stock acquired	(9,071		)	—			—			—		(9,071		)
Proceeds (repayments) from issuance of long-term debt, net	6,665			4,385			11,458			—		22,508
Proceeds (repayments) from issuance of long-term debt—intercompany, net	—			(1,300		)	1,300			—		—
Change in deposits	—			—			34,632			—		34,632
Change in federal funds purchased and repos	—			6,910			12,551			—		19,461
Change in short-term borrowings	44			1,865			5,539			—		7,448
Net change in short-term borrowings and other advances—intercompany	(23,342		)	6,573			16,769			—		—
Capital contributions from parent	—			(60		)	60			—		—
Other financing activities	(402		)	—			—			—		(402		)
Net cash provided by (used in) financing activities of continuing operations	$	(28,745	)	$	18,373		$	82,309		$	—	$	71,937
Effect of exchange rate changes on cash and due from banks	$	—		$	—		$	599		$	—	$	599
Change in cash and due from banks	$	37		$	(171	)	$	(305	)	$	—	$	(439	)
Cash and due from banks at beginning of period	142			4,690			18,211			—		23,043
Cash and due from banks at end of period	$	179		$	4,519		$	17,906		$	—	$	22,604
Supplemental disclosure of cash flow information for continuing operations
Cash paid (received) during the year for income taxes	$	(772	)	$	470		$	3,016		$	—	$	2,714
Cash paid during the year for interest	3,319			3,175			5,110			—		11,604
Non-cash investing activities
Transfers to loans HFS from loans	$	—		$	—		$	3,800		$	—	$	3,800
Transfers to OREO and other repossessed assets	—			—			85			—		85

Condensed Consolidating Statement of Cash Flows



	Nine Months Ended September 30, 2016
In millions of dollars	Citigroup parent company			CGMHI			Other Citigroup subsidiaries and eliminations			Consolidating adjustments		Citigroup consolidated
Net cash provided by (used in) operating activities of continuing operations	$	16,685		$	5,285		$	6,364		$	—	$	28,334
Cash flows from investing activities of continuing operations
Purchases of investments	$	—		$	—		$	(155,804	)	$	—	$	(155,804	)
Proceeds from sales of investments	229			—			98,943			—		99,172
Proceeds from maturities of investments	61			—			52,546			—		52,607
Change in deposits with banks	—			(1,464		)	(18,910		)	—		(20,374		)
Change in loans	—			—			(42,163		)	—		(42,163		)
Proceeds from sales and securitizations of loans	—			—			12,676			—		12,676
Proceeds from significant disposals	—			—			265			—		265
Change in federal funds sold and resales	—			(12,398		)	(3,972		)	—		(16,370		)
Changes in investments and advances—intercompany	(14,378		)	(23		)	14,401			—		—
Other investing activities	2,962			—			(4,587		)	—		(1,625		)
Net cash used in investing activities of continuing operations	$	(11,126	)	$	(13,885	)	$	(46,605	)	$	—	$	(71,616	)
Cash flows from financing activities of continuing operations
Dividends paid	$	(1,517	)	$	—		$	—		$	—	$	(1,517	)
Issuance of preferred stock	2,498			—			—			—		2,498
Treasury stock acquired	(5,167		)	—			—			—		(5,167		)
Proceeds (repayments) from issuance of long-term debt, net	1,613			4,196			(2,806		)	—		3,003
Proceeds (repayments) from issuance of long-term debt—intercompany, net	—			(12,533		)	12,533			—		—
Change in deposits	—			—			32,365			—		32,365
Change in federal funds purchased and repos	—			12,251			(5,623		)	—		6,628
Change in short-term borrowings	(163		)	1,251			7,360			—		8,448
Net change in short-term borrowings and other advances—intercompany	(2,503		)	(726		)	3,229			—		—
Capital contributions from parent	—			5,000			(5,000		)	—		—
Other financing activities	(313		)	—			—			—		(313		)
Net cash provided by (used in) financing activities of continuing operations	$	(5,552	)	$	9,439		$	42,058		$	—	$	45,945
Effect of exchange rate changes on cash and due from banks	$	—		$	—		$	(144	)	$	—	$	(144	)
Change in cash and due from banks	$	7		$	839		$	1,673		$	—	$	2,519
Cash and due from banks at beginning of period	124			1,995			18,781			—		20,900
Cash and due from banks at end of period	$	131		$	2,834		$	20,454		$	—	$	23,419
Supplemental disclosure of cash flow information for continuing operations
Cash paid (refund) during the year for income taxes	$	(265	)	$	81		$	3,039		$	—	$	2,855
Cash paid during the year for interest	3,402			2,378			3,980			—		9,760
Non-cash investing activities
Transfers to loans HFS from loans	$	—		$	—		$	8,600		$	—	$	8,600
Transfers to OREO and other repossessed assets	—			—			138			—		138