7.3 billion - Citigroup

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Non-Accrual Loans and Assets (continued)The table below summarizes Citigroup‘s other real estate owned (OREO) assets as of the periods indicated. This represents thecarrying value of all real estate property acquired by foreclosure or other legal proceedings when Citi has taken possession of thecollateral.In millions of dollars1st Qtr.20124th Qtr.20113rd Qtr.20112nd Qtr.2011OREOCiticorp $ 48 $ 71 $ 810 $ 810 $ 776Citi Holdings 518 480 534 608 787Corporate/Other 14 15 13 16 14Total OREO $ 580 $ 566 $ 1,357 $ 1,434 $ 1,577North America $ 392 $ 441 $ 1,222 $ 1,245 $ 1,331EMEA 139 73 79 133 140Latin America 48 51 56 55 52Asia 1 1 — 1 54Total OREO $ 580 $ 566 $ 1,357 $ 1,434 $ 1,577Other repossessed assets $1 $ 1 $ 24 $ 18 $ 21Non-accrual assets—Total CitigroupCorporate non-accrual loans $ 2,973 $ 3,236 $4,171 $4,832 $5,491Consumer non-accrual loans (1) 8,749 7,990 7,946 8,401 9,321Non-accrual loans (NAL) $11,722 $11,226 $12,117 $13,233 $14,812OREO 580 566 1357 1434 1577Other repossessed assets 1 1 24 18 21Non-accrual assets (NAA) $12,303 $11,793 $13,498 $14,685 $16,410NAL as a percentage of total loans 1.81% 1.73% 1.90% 2.04% 2.32%NAA as a percentage of total assets 0.63 0.63 0.70 0.75 0.84Allowance for loan losses as a percentage of NAL (2) 248 268 265 260 2471st Qtr.2011Non-accrual assets—Total Citicorp1st Qtr.20124th Qtr.20113rd Qtr.20112nd Qtr.20111st Qtr.2011Non-accrual loans (NAL) $4,175 $ 4,018 $ 4,564 $ 4,846 $ 5,102OREO 48 71 810 810 776Other repossessed assets N/A N/A N/A N/A N/ANon-accrual assets (NAA) $4,223 $ 4,089 $ 5,374 $ 5,656 $ 5,878NAA as a percentage of total assets 0.30% 0.30% 0.38% 0.40% 0.43%Allowance for loan losses as a percentage of NAL (2) 391 416 386 397 403Non-accrual assets—Total Citi HoldingsNon-accrual loans (NAL) (1) $7,547 $ 7,208 $ 7,553 $ 8,387 $ 9,710OREO 518 480 534 608 787Other repossessed assets N/A N/A N/A N/A N/ANon-accrual assets (NAA) $8,065 $ 7,688 $ 8,087 $ 8,995 $10,497NAA as a percentage of total assets 3.86% 3.42% 3.27% 3.39% 3.56%Allowance for loan losses as a percentage of NAL (2) 168 186 191 180 165(1) The first quarter of 2012 increase in non-accrual consumer loans in North America was attributable to a $0.8 billion reclassification from accrual to non-accrualstatus of home equity loans where the related residential first mortgage was 90 days or more past due. Of the $0.8 billion of home equity loans, $0.7 billion werecurrent and $0.1 billion were 30 to 89 days past due as of March 31, 2012. The reclassification reflected regulatory guidance issued on January 31, 2012. Thereclassification had no impact on Citi‘s delinquency statistics or its loan loss reserves.(2) The allowance for loan losses includes the allowance for Citi‘s credit card portfolios and purchased distressed loans, while the non-accrual loans exclude creditcard balances (with the exception of certain international portfolios) and purchased distressed loans as these continue to accrue interest until charge-off.N/A Not available at the Citicorp or Citi Holdings level.47CITIGROUP – 2012 FIRST QUARTER 10-Q
Renegotiated LoansThe following table presents Citi‘s loans modified in TDRs.Mar. 31,2012Dec. 31,2011In millions of dollarsCorporate renegotiated loans (1)In U.S. officesCommercial and industrial (2) $ 106 $ 206Mortgage and real estate (3) 53 241Loans to financial institutions 540 552Other 15 79$ 714 $ 1,078In offices outside the U.S.Commercial and industrial (2) $ 166 $ 223Mortgage and real estate (3) 67 17Loans to financial institutions 11 12Other 5 6$ 249 $ 258Total Corporate renegotiated loans $ 963 $ 1,336In certain circumstances, Citigroup modifies certain of itsCorporate loans involving a non-troubled borrower. Thesemodifications are subject to Citi‘s normal underwritingstandards for new loans and are made in the normal course ofbusiness to match customers‘ needs with available Citiproducts or programs (these modifications are not included inthe table above). In other cases, loan modifications involve atroubled borrower to whom Citi may grant a concession(modification). Modifications involving troubled borrowersmay include extension of maturity date, reduction in the statedinterest rate, rescheduling of future cash flows, reduction inthe face amount of the debt or reduction or waiver of accruedinterest or fees. See ―Consumer Loan Modification Programs‖below.Consumer renegotiated loans (4)(5)(6)(7)In U.S. officesMortgage and real estate $20,792 $21,429Cards 5,105 5,766Installment and other 1,334 1,357$27,231 $28,552In offices outside the U.S.Mortgage and real estate $ 926 $ 936Cards 866 929Installment and other 1,300 1,342$ 3,092 $ 3,207Total Consumer renegotiated loans $30,323 $31,759(1) Includes $373 million and $455 million of non-accrual loans included inthe non-accrual assets table above, at March 31, 2012 and December 31,2011, respectively. The remaining loans are accruing interest.(2) In addition to modifications reflected as TDRs at March 31, 2012, Citialso modified $38 million and $390 million of commercial loans riskrated ―Substandard Non-Performing‖ or worse (asset category definedby banking regulators) in U.S. offices and offices outside the U.S.,respectively. These modifications were not considered TDRs becausethe modifications did not involve a concession (a required element of aTDR for accounting purposes).(3) In addition to modifications reflected as TDRs at March 31, 2012, Citialso modified $156 million and $34 million of commercial real estateloans risk rated ―Substandard Non-Performing‖ or worse (asset categorydefined by banking regulators) in U.S. offices and in offices outside theU.S., respectively. These modifications were not considered TDRsbecause the modifications did not involve a concession (a requiredelement of a TDR for accounting purposes).(4) Includes $2,850 million and $2,371 million of non-accrual loansincluded in the non-accrual assets table above at March 31, 2012 andDecember 31, 2011, respectively. The remaining loans are accruinginterest.(5) Includes $15 million and $19 million of commercial real estate loans atMarch 31, 2012 and December 31, 2011, respectively.(6) Includes $265 million and $257 million of commercial loans at March31, 2012 and December 31, 2011, respectively.(7) Smaller-balance homogeneous loans were derived from Citi‘s riskmanagement systems.48CITIGROUP – 2012 FIRST QUARTER 10-Q
Page 1 and 2: UNITED STATESSECURITIES AND EXCHANG
Page 3 and 4: CITIGROUP INCFIRST QUARTER 2012 - F
Page 5 and 6: As described above, Citigroup is ma
Page 7 and 8: The Consumer allowance for loan los
Page 9 and 10: SUMMARY OF SELECTED FINANCIAL DATA
Page 11 and 12: CITIGROUP REVENUESFirst QuarterIn m
Page 13 and 14: GLOBAL CONSUMER BANKINGGlobal Consu
Page 15 and 16: EMEA REGIONAL CONSUMER BANKINGEMEA
Page 17 and 18: ASIA REGIONAL CONSUMER BANKINGAsia
Page 19 and 20: [THIS PAGE INTENTIONALLY LEFT BLANK
Page 21 and 22: 1Q12 vs. 1Q11Net income of $1.2 bil
Page 23 and 24: CITI HOLDINGSCiti Holdings contains
Page 25 and 26: LOCAL CONSUMER LENDINGLocal Consume
Page 27 and 28: SPECIAL ASSET POOLSpecial Asset Poo
Page 29 and 30: BALANCE SHEET REVIEWThe following s
Page 31 and 32: transactions, see ―Capital Resour
Page 33 and 34: CAPITAL RESOURCES AND LIQUIDITYCAPI
Page 35 and 36: Common Stockholders’ EquityCitigr
Page 37 and 38: FUNDING AND LIQUIDITYOverviewCiti
Page 39 and 40: The table below details the long-te
Page 41 and 42: Credit RatingsCitigroup‘s funding
Page 43 and 44: OFF-BALANCE-SHEET ARRANGEMENTSCitig
Page 45 and 46: Details of Credit Loss Experience1s
Page 47: Non-Accrual LoansIn millions of dol
Page 51 and 52: North America Residential First Mor
Page 53 and 54: loans exiting foreclosure inventory
Page 55 and 56: Note: For each of the tables above,
Page 57 and 58: Citi will account for the refinanci
Page 59 and 60: Legacy S&B Securitizations (princip
Page 61 and 62: In addition to the amounts set fort
Page 63 and 64: North America Citi Retail Services
Page 65 and 66: Consumer Loan Net Credit Losses and
Page 67 and 68: CORPORATE LOAN DETAILSFor corporate
Page 69 and 70: EXPOSURE TO COMMERCIAL REAL ESTATET
Page 71 and 72: Value at Risk for Trading Portfolio
Page 73 and 74: AVERAGE BALANCES AND INTEREST RATES
Page 75 and 76: (10) Excludes hybrid financial inst
Page 77 and 78: ANALYSIS OF CHANGES IN INTEREST EXP
Page 79 and 80: GIIPSGross funded credit exposure t
Page 81 and 82: Credit Default SwapsCiti buys and s
Page 84 and 85: CREDIT DERIVATIVESCitigroup makes m
Page 87 and 88: DISCLOSURE CONTROLS ANDPROCEDURESCi
Page 89 and 90: FINANCIAL STATEMENTS AND NOTES TABL
Page 91 and 92: CONSOLIDATED STATEMENT OF COMPREHEN
Page 93 and 94: CONSOLIDATED BALANCE SHEET(Continue
Page 95 and 96: CONSOLIDATED STATEMENT OF CASH FLOW
Page 97 and 98: ACCOUNTING CHANGESPresentation of C
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2. DISCONTINUED OPERATIONSSale of E
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4. INTEREST REVENUE AND EXPENSEFor
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period. The 2012 deferred cash awar
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9. EARNINGS PER SHAREThe following
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11. INVESTMENTSOverviewIn millions
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The following table presents the am
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During the first quarter of 2011, t
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Evaluating Investments for Other-Th
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Recognition and Measurement of OTTI
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12. LOANSCitigroup loans are report
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Consumer Credit Scores (FICO)In the
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In millions of dollarsRecordedinves
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Corporate LoansCorporate loans repr
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Corporate Loans Credit Quality Indi
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Corporate Troubled Debt Restructuri
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14. GOODWILL AND INTANGIBLE ASSETSG
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15. DEBTShort-Term BorrowingsShort-
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16. CHANGES IN ACCUMULATED OTHER CO
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In millions of dollars As of Decemb
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Funding Commitments for Significant
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Credit Card Securitizations—Citic
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The range in the key assumptions is
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The market for MSRs is not sufficie
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investors in the form of funded not
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are tendered and the Company (in it
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18. DERIVATIVES ACTIVITIESIn the or
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Derivative Mark-to-Market (MTM) Rec
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Key aspects of achieving ASC 815 he
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Credit DerivativesA credit derivati
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19. FAIR VALUE MEASUREMENTASC 820-1
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The key inputs depend upon the type
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Items Measured at Fair Value on a R
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In millions of dollars at December
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Changes in Level 3 Fair Value Categ
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Net realized/unrealizedgains (losse
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— Purchases of Corporate debt tra
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Fair Value(in millions) Methodology
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Items Measured at Fair Value on a N
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20. FAIR VALUE ELECTIONSThe Company
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The following table provides inform
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The following table provides inform
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Financial standby letters of credit
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Value-Transfer NetworksThe Company
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Credit Commitments and Lines of Cre
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Mortgage-Backed Securities and CDO
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Condensed Consolidating Statements
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Condensed Consolidating Balance She
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Condensed Consolidating Statements
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LEGAL PROCEEDINGSFor a discussion o
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Item 6. ExhibitsSee Exhibit Index.1
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EXHIBIT INDEX3.01.1 Restated Certif
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7.3 billion - Citigroup

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