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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities of continuing operations      
Net income before attribution of noncontrolling interests $ 19,467 $ 18,080 $ (6,738)
Net income attributable to noncontrolling interests 66 35 60
Citigroup’s net income (loss) 19,401 18,045 (6,798)
Loss from discontinued operations, net of taxes (4) (8) (111)
Income (loss) from continuing operations—excluding noncontrolling interests 19,405 18,053 (6,687)
Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations      
Net gains on significant disposals [1] 0 (247) (602)
Depreciation and amortization 3,905 3,754 3,659
Deferred income taxes [2] (610) (51) 24,877
Provision for loan losses 8,218 7,354 7,503
Realized gains from sales of investments (1,474) (421) (778)
Net impairment losses on investments 32 132 91
Change in trading account assets (20,124) (3,469) (7,038)
Change in trading account liabilities (24,411) 19,135 (15,375)
Change in brokerage receivables net of brokerage payables (20,377) 6,163 (5,307)
Change in loans HFS (909) 770 247
Change in other assets 4,724 (5,791) (3,364)
Change in other liabilities 1,829 (871) (3,044)
Other, net 16,955 (7,559) (2,956)
Total adjustments (32,242) 18,899 (2,087)
Net cash provided by (used in) operating activities of continuing operations (12,837) 36,952 (8,774)
Cash flows from investing activities of continuing operations      
Change in securities borrowed and purchased under agreements to resell 19,362 (38,206) 4,335
Change in loans (22,466) (29,002) (58,062)
Proceeds from sales and securitizations of loans 2,878 4,549 8,365
Purchases of investments (274,491) (152,487) (185,740)
Proceeds from sales of investments 137,173 61,491 107,368
Proceeds from maturities of investments 119,051 83,604 84,369
Proceeds from significant disposals [1] 0 314 3,411
Capital expenditures on premises and equipment and capitalized software (5,336) (3,774) (3,361)
Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets 259 212 377
Other, net 196 181 187
Net cash used in investing activities of continuing operations (23,374) (73,118) (38,751)
Cash flows from financing activities of continuing operations      
Dividends paid (5,447) (5,020) (3,797)
Issuance of preferred stock 1,496 0 0
Redemption of preferred stock (1,980) (793) 0
Treasury stock acquired (17,571) (14,433) (14,541)
Stock tendered for payment of withholding taxes (364) (482) (405)
Change in securities loaned and sold under agreements to repurchase (11,429) 21,491 14,456
Issuance of long-term debt 59,134 60,655 67,960
Payments and redemptions of long-term debt (51,029) (58,132) (40,986)
Change in deposits 57,420 53,348 30,416
Change in short-term borrowings   (12,106)  
Change in short-term borrowings 12,703   13,751
Net cash provided by financing activities of continuing operations 42,933 44,528 66,854
Effect of exchange rate changes on cash and cash equivalents (908) (773) 693
Change in cash and due from banks and deposits with banks 5,814 7,589 20,022
Cash, due from banks and deposits with banks at beginning of period [3] 188,105 180,516 160,494
Cash, due from banks and deposits with banks at end of period [3] 193,919 188,105 180,516
Cash, due from banks and deposits with banks at end of period [3] 193,919 180,516 160,494
Supplemental disclosure of cash flow information for continuing operations      
Cash paid during the year for income taxes 4,888 4,313 2,083
Cash paid during the year for interest 28,682 22,963 15,675
Non-cash investing activities      
Transfers to loans HFS (Other assets) from loans [4] $ 5,500 $ 4,200 $ 5,900
[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]
Includes the impact of ASU 2016-18, Restricted Cash. See Notes 1 and 26 to the Consolidated Financial Statements.
[4]
Operating and finance lease right-of-use assets and lease liabilities represent non-cash investing and financing activities, respectively, and are not included in the non-cash investing activities presented here. See Note 26 to the Consolidated Financial Statements for more information and balances as of December 31, 2019.