EX-7 2 a20-14990_2ex7.htm EX-7

Exhibit 7

 

CONSOLIDATED BALANCE SHEET

Citigroup Inc. and Subsidiaries

 

 

 

December 31,

 

In millions of dollars

 

2019

 

2018

 

Assets

 

 

 

 

 

Cash and due from banks (including segregated cash and other deposits)

 

$

23,967

 

$

23,645

 

Deposits with banks

 

169,952

 

164,460

 

Securities borrowed and purchased under agreements to resell (including $153,193 and $147,701 as of December 31, 2019 and 2018, respectively, at fair value)

 

251,322

 

270,684

 

Brokerage receivables

 

39,857

 

35,450

 

Trading account assets (including $120,236 and $112,932 pledged to creditors at December 31, 2019 and 2018, respectively)

 

276,140

 

256,117

 

Investments:

 

 

 

 

 

Available-for-sale debt securities (including $8,721 and $9,284 pledged to creditors as of December 31, 2019 and 2018, respectively)

 

280,265

 

288,038

 

Held-to-maturity debt securities (including $1,923 and $971 pledged to creditors as of December 31, 2019 and 2018, respectively)

 

80,775

 

63,357

 

Equity securities (including $1,162 and $1,109 as of December 31, 2019 and 2018, respectively, at fair value)

 

7,523

 

7,212

 

Total investments

 

$

368,563

 

$

358,607

 

Loans:

 

 

 

 

 

Consumer (including $18 and $20 as of December 31, 2019 and 2018, respectively, at fair value)

 

309,548

 

302,360

 

Corporate (including $4,067 and $3,203 as of December 31, 2019 and 2018, respectively, at fair value)

 

389,935

 

381,836

 

Loans, net of unearned income

 

$

699,483

 

$

684,196

 

Allowance for loan losses

 

(12,783

)

(12,315

)

Total loans, net

 

$

686,700

 

$

671,881

 

Goodwill

 

22,126

 

22,046

 

Intangible assets (including MSRs of $495 and $584 as of December 31, 2019 and 2018, respectively, at fair value)

 

4,822

 

5,220

 

Other assets (including $12,830 and $20,788 as of December 31, 2019 and 2018, respectively, at fair value)

 

107,709

 

109,273

 

Total assets

 

$

1,951,158

 

$

1,917,383

 

 

The following table presents certain assets of consolidated variable interest entities (VIEs), which are included on the Consolidated Balance Sheet above. The assets in the table below include those assets that can only be used to settle obligations of consolidated VIEs, presented on the following page, and are in excess of those obligations. In addition, the assets in the table below include third-party assets of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation.

 

 

 

December 31,

 

In millions of dollars

 

2019

 

2018

 

Assets of consolidated VIEs to be used to settle obligations of consolidated VIEs

 

 

 

 

 

Cash and due from banks

 

$

108

 

$

270

 

Trading account assets

 

6,719

 

917

 

Investments

 

1,295

 

1,796

 

Loans, net of unearned income

 

 

 

 

 

Consumer

 

46,977

 

49,403

 

Corporate

 

16,175

 

19,259

 

Loans, net of unearned income

 

$

63,152

 

$

68,662

 

Allowance for loan losses

 

(1,841

)

(1,852

)

Total loans, net

 

$

61,311

 

$

66,810

 

Other assets

 

73

 

151

 

Total assets of consolidated VIEs to be used to settle obligations of consolidated VIEs

 

$

69,506

 

$

69,944

 

 

Statement continues on the next page.

 


 

CONSOLIDATED BALANCE SHEET

Citigroup Inc. and Subsidiaries

(Continued)

 

 

 

 

December 31,

 

In millions of dollars, except shares and per share amounts

 

2019

 

2018

 

Liabilities

 

 

 

 

 

Non-interest-bearing deposits in U.S. offices

 

$

98,811

 

$

105,836

 

Interest-bearing deposits in U.S. offices (including $1,624 and $717 as of December 31, 2019 and 2018, respectively, at fair value)

 

401,418

 

361,573

 

Non-interest-bearing deposits in offices outside the U.S.

 

85,692

 

80,648

 

Interest-bearing deposits in offices outside the U.S. (including $695 and $758 as of December 31, 2019 and 2018, respectively, at fair value)

 

484,669

 

465,113

 

Total deposits

 

$

1,070,590

 

$

1,013,170

 

Securities loaned and sold under agreements to repurchase (including $40,651 and $44,510 as of December 31, 2019 and 2018, respectively, at fair value)

 

166,339

 

177,768

 

Brokerage payables

 

48,601

 

64,571

 

Trading account liabilities

 

119,894

 

144,305

 

Short-term borrowings (including $4,946 and $4,483 as of December 31, 2019 and 2018, respectively, at fair value)

 

45,049

 

32,346

 

Long-term debt (including $55,783 and $38,229 as of December 31, 2019 and 2018, respectively, at fair value)

 

248,760

 

231,999

 

Other liabilities (including $6,343 and $15,906 as of December 31, 2019 and 2018, respectively, at fair value)

 

57,979

 

56,150

 

Total liabilities

 

$

1,757,212

 

$

1,720,309

 

Stockholders’ equity

 

 

 

 

 

Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 719,200 as of December 31, 2019 and 738,400 as of December 31, 2018, at aggregate liquidation value

 

$

17,980

 

$

18,460

 

Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,099,602,856 as of December 31, 2019 and 3,099,567,177 as of December 31, 2018

 

31

 

31

 

Additional paid-in capital

 

107,840

 

107,922

 

Retained earnings

 

165,369

 

151,347

 

Treasury stock, at cost: 985,479,501 shares as of December 31, 2019 and 731,099,833 shares as of December 31, 2018

 

(61,660

)

(44,370

)

Accumulated other comprehensive income (loss) (AOCI)

 

(36,318

)

(37,170

)

Total Citigroup stockholders’ equity

 

$

193,242

 

$

196,220

 

Noncontrolling interest

 

704

 

854

 

Total equity

 

$

193,946

 

$

197,074

 

Total liabilities and equity

 

$

1,951,158

 

$

1,917,383

 

 

The following table presents certain liabilities of consolidated VIEs, which are included on the Consolidated Balance Sheet above. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts where creditors or beneficial interest holders have recourse to the general credit of Citigroup.

 

 

 

December 31,

 

In millions of dollars

 

2019

 

2018

 

Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup

 

 

 

 

 

Short-term borrowings

 

$

10,031

 

$

13,134

 

Long-term debt

 

25,582

 

28,514

 

Other liabilities

 

917

 

697

 

Total liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup

 

$

36,530

 

$

42,345

 

 

The Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements.