Citigroup Inc.

CORPORATE/OTHERCorporate/Other includes global staff functions (including finance, risk, human resources, legal and compliance) and other corporate expense, globaloperations and technology, residual Corporate Treasury and Corporate items. At December 31, 2010, this segment had approximately $272 billion of assets,consisting primarily of Citi’s liquidity portfolio, including $87 billion of cash and deposits with banks.In millions of dollars 2010 2009 2008Net interest revenue $1,059 $ (1,657) $(2,671)Non-interest revenue 695 (8,898) 413Total revenues, net of interest expense $1,754 $(10,555) $(2,258)Total operating expenses $1,953 $ 1,418 $ 511Provisions for loan losses and for benefits and claims — — —(Loss) from continuing operations before taxes $ (199) $(11,973) $(2,769)Benefits for income taxes (153) (4,356) (585)(Loss) from continuing operations $ (46) $ (7,617) $(2,184)Income (loss) from discontinued operations, net of taxes (68) (445) 4,002Net income (loss) before attribution of noncontrolling interests $ (114) $ (8,062) $ 1,818Net (loss) attributable to noncontrolling interests (48) (2) —Net income (loss) $ (66) $ (8,060) $ 1,8182010 vs. 2009Revenues, net of interest expense increased primarily due to the absence ofthe loss on debt extinguishment related to the repayment of the $20 billion ofTARP trust preferred securities and the exit from the loss-sharing agreementwith the U.S. government, each in the fourth quarter of 2009. Revenues alsoincreased due to gains on sales of AFS securities, benefits from lower shortterminterest rates and other improved Treasury results during the currentyear. These increases were partially offset by the absence of the pretax gainrelated to Citi’s public and private exchange offers in 2009.Operating Expenses increased primarily due to various legal and relatedexpenses, as well as other non-compensation expenses.2009 vs. 2008Revenues, net of interest expense declined primarily due to the pretaxloss on debt extinguishment related to the repayment of TARP and the exitfrom the loss-sharing agreement with the U.S. government. Revenues alsodeclined due to the absence of the 2008 sale of Citigroup Global ServicesLimited recorded in operations and technology. These declines were partiallyoffset by a pretax gain related to the exchange offers, revenues and higherintersegment eliminations.Operating expenses increased primarily due to intersegment eliminationsand increases in compensation, partially offset by lower repositioning reserves.53