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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities of continuing operations      
Citigroup’s net income $ 18,080 $ (6,738) $ 14,975
Net income attributable to noncontrolling interests 35 60 63
Citigroup’s net income (loss) 18,045 (6,798) 14,912
Loss from discontinued operations, net of taxes (8) (111) (58)
Income (loss) from continuing operations—excluding noncontrolling interests 18,053 (6,687) 14,970
Adjustments to reconcile net income to net cash provided by operating activities of continuing operations      
Net gains on significant disposals [1] (247) (602) (404)
Depreciation and amortization 3,754 3,659 3,720
Deferred tax provision [2] (51) 24,877 1,459
Provision for loan losses 7,354 7,503 6,749
Realized gains from sales of investments (421) (778) (948)
Net impairment losses on investments, goodwill and intangible assets 132 91 621
Change in trading account assets (3,469) (7,038) (3,092)
Change in trading account liabilities 19,135 (15,375) 21,409
Change in brokerage receivables, net of brokerage payables 6,163 (5,307) 2,226
Change in loans HFS 770 247 6,603
Change in other assets (5,791) (3,364) (6,676)
Change in other liabilities (871) (3,044) 96
Other, net (7,559) (2,956) 7,000
Total adjustments 18,899 (2,087) 38,763
Net cash provided by (used in) operating activities of continuing operations 36,952 (8,774) 53,733
Cash flows from investing activities of continuing operations      
Change in federal funds sold and securities borrowed or purchased under agreements to resell (38,206) 4,335 (17,138)
Change in loans (29,002) (58,062) (39,761)
Proceeds from sales and securitizations of loans 4,549 8,365 18,140
Purchases of investments (186,987) (185,740) (211,402)
Proceeds from sales of investments [3] 61,491 107,368 132,183
Proceeds from maturities of investments 118,104 84,369 65,525
Proceeds from significant disposals [1] 314 3,411 265
Capital expenditures on premises and equipment and capitalized software (3,774) (3,361) (2,756)
Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets 212 377 667
Other, net 181 187 142
Net cash used in investing activities of continuing operations (73,118) (38,751) (54,135)
Cash flows from financing activities of continuing operations      
Dividends paid (5,020) (3,797) (2,287)
Issuance (redemption) of preferred stock (793) 0 2,498
Treasury stock acquired (14,433) (14,541) (9,290)
Stock tendered for payment of withholding taxes (482) (405) (316)
Change in federal funds purchased and securities loaned or sold under agreements to repurchase 21,491 14,456 (4,675)
Issuance of long-term debt 60,655 67,960 63,806
Payments and redemptions of long-term debt (58,132) (40,986) (55,460)
Change in deposits 53,348 30,416 24,394
Change in short-term borrowings (12,106) 13,751 9,622
Net cash provided by financing activities of continuing operations 44,528 66,854 28,292
Effect of exchange rate changes on cash and cash equivalents (773) 693 (493)
Change in cash and due from banks and deposits with banks [4] 7,589 20,022 27,397
Cash, due from banks and deposits with banks at begining of period [4] 180,516 160,494 133,097
Cash, due from banks and deposits with banks at end of period [4] 188,105 180,516 160,494
Cash, due from banks and deposits with banks at end of period [4] 180,516 160,494 133,097
Supplemental disclosure of cash flow information for continuing operations      
Cash paid during the year for income taxes 4,313 2,083 4,359
Cash paid during the year for interest 22,963 15,675 12,067
Non-cash investing activities      
Transfers to loans HFS from loans 4,200 5,900 13,900
Transfers to OREO and other repossessed assets $ 151 $ 113 $ 165
[1] See Note 2 to the Consolidated Financial Statements for further information on significant disposals.
[2] Includes the full impact of the $22.6 billion non-cash charge related to the Tax Cuts and Jobs Act (Tax Reform) in 2017. See Notes 1 and 9 to the Consolidated Financial Statements for further information.
[3] Proceeds for 2016 include approximately $3.3 billion from the sale of Citi’s investment in China Guangfa Bank.
[4] Includes the impact of ASU 2016-18, Restricted Cash. See Notes 1 and 26 to the Consolidated Financial Statements.