Citigroup (C) FY2011 results: revenue $77.3 billion, down 9.8% on the year
Citigroup Inc. (C) reported revenue of $77.3 billion for fiscal 2011, the year ended 31 December 2011, down 9.8% on the year before. Net income was $11.1 billion, up 4.4%, and diluted earnings per share $3.63. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$77.3 billion
-9.8% on the year
FY2007FY2011
Operating margin
35.0%
45.4% a year earlier
FY2007FY2011
Net income
$11.1 billion
+4.4% on the year
FY2007FY2011
Diluted EPS
$3.63
+3.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
77,331
85,776
80,285
-9.8%
Operating income
27,081
38,925
n/a
-30.4%
Operating margin
35.0%
45.4%
n/a
Interest expense
24,234
25,057
27,902
-3.3%
Pre-tax income
14,722
13,116
-7,799
+12.2%
Income tax
3,575
2,217
-6,733
+61.3%
Effective tax rate
24.3%
16.9%
n/a
Net income
11,067
10,602
-1,606
+4.4%
Net margin
14.3%
12.4%
-2.0%
Diluted EPS
$3.63
$3.50
-$8.00
+3.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
n/a
40,660
-56,435
Capital expenditure
3,448
2,363
2,264
+45.9%
Free cash flow
n/a
38,297
-58,699
Depreciation and amortisation
2,872
2,664
2,853
+7.8%
Share-based compensation
1,630
1,937
3,822
-15.8%
Buybacks
1.0
6.0
3.0
-83.3%
Dividends paid
107
9.0
3,237
+1,088.9%
Diluted shares, weighted
2,999m
2,968m
1,210m
+1.0%
Shares outstanding at period end
n/a
n/a
2,848m
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
177,806
163,468
152,700
+8.8%
Non-controlling interest
1,767
2,321
2,273
-23.9%
Deposits
865,936
844,968
835,903
+2.5%
Repurchase agreements
198,373
189,558
154,281
+4.7%
Trading liabilities
126,082
129,054
137,512
-2.3%
Short-term borrowings
n/a
n/a
68,879
Debt
576,319
649,531
364,019
-11.3%
Other liabilities
n/a
n/a
141,079
Total liabilities and equity
1,873,878
1,913,902
1,856,646
-2.1%
Goodwill
25,413
26,152
25,392
-2.8%
Intangible assets
6,600
n/a
n/a
Securities held for sale or to maturity
268,502
297,226
51,527
-9.7%
Loans
617,127
608,139
555,471
+1.5%
Resale agreements
275,849
246,717
222,022
+11.8%
Trading assets
291,734
317,272
342,773
-8.0%
Other assets
388,653
418,396
659,461
-7.1%
Total assets
1,873,878
1,913,902
1,856,646
-2.1%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.