AN ENGLISH COURSE FOR STUDENTS OF FINANCE. Учебно-методический комплекс
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BLOCK 7
BLOCK 7
INFORMATION FOR STUDY
Financial Reports
Consolidated financial report
of the large financial holding company
1. Consolidated statements of income of Citicorp and subsidiaries
In millions of dollars
Interest revenue |
|
|
|
Loans, including fees |
22927 |
22545 |
|
Deposits with banks |
1002 |
1070 |
|
Federal funds sold and securities purchased |
402 |
738 |
|
under resale agreement |
|
|
|
Securities, including dividends |
3670 |
3028 |
|
Trading account assets |
692 |
1059 |
|
Loans held for sale |
549 |
533 |
|
|
|
|
|
|
|
29242 |
28973 |
Interest expense |
|
|
|
|
|
||
Deposits |
10775 |
11511 |
|
Trading account liabilities |
88 |
269 |
|
Purchased funds and other borrowings |
1984 |
2146 |
|
Long-term debt |
1853 |
1745 |
|
|
|
|
|
|
|
14700 |
15671 |
|
|
|
|
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AN ENGLISH COURSE FOR STUDENTS OF FINANCE |
|
|
Net interest revenue |
|
|
14542 |
13302 |
|
Provision for credit losses |
2837 |
2751 |
Net interest revenue after provision for cre- |
|
|
11705 |
10551 |
|
dit losses |
|
|
Fees, commissions, and other revenue |
|
|
Fees and commissions |
7547 |
6457 |
Foreign exchange |
1569 |
1628 |
Trading account |
888 |
265 |
Securities transactions |
332 |
524 |
Other revenue |
3270 |
2502 |
|
13606 |
11376 |
Operating expense |
|
|
Salaries |
6270 |
6028 |
Employee benefits |
1333 |
1403 |
Total employee |
7603 |
7431 |
Net premises and equipment |
2505 |
2207 |
Restructuring-related items and merger- |
154 |
1011 |
related costs |
|
|
Other expense |
6756 |
6362 |
|
17018 |
17011 |
Income before taxes |
|
|
8293 |
4916 |
|
Income taxes |
3098 |
1820 |
Net income |
|
|
5195 |
3096 |
|
|
|
|
Vocabulary Notes
financial report - финансовый отчет;
financial holding company - финансовая холдинговая компания;
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BLOCK 7
consolidated statements of income - консолидированный отчет о прибылях и убытках;
subsidiary - дочерняя компания;
interest revenue - процентный доход;
fees - гонорары, комиссионные платежи;
deposits with banks - депозиты в других банках;;
federal funds sold - предоставленные межбанковские кредиты;
securities purchased under resale agreement - ценные бу-
маги, приобретенные по соглашению об обратном вы- купе;
trading account assets - активы торгового счета;
loans held for sale - ссуды для перепродажи;
interest expenses- процентные расходы;
trading account liabilities - обязательства по торговому счету;
purchased funds - полученные межбанковские кредиты;
other borrowings - другие заемные средства;
long term debts - долгосрочные долговые обязательства;
net interest revenue - чистый процентный доход;
provision for credit losses - резерв на возможные потери по ссудам;
foreign exchange - операция с иностранной валютой;
securities transactions - операции с ценными бумагами;
operating expenses- операционные расходы;
employee benefits - премии сотрудникам банка;
premises – помещения;
restructuring related items - расходы по реструктуриза-
ции
merger related costs - расходы по слияниям;
income before taxes - доход до налогообложения;
income taxes - налоги на прибыль;
net income - чистый доход.
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AN ENGLISH COURSE FOR STUDENTS OF FINANCE
2. Consolidated balance sheets of Citicorp and subsidiaries
In millions of dollars |
|
|
Assets |
|
|
Cash and due from banks |
11385 |
9031 |
Deposits at interest with banks |
12095 |
11643 |
Securities, at fair value |
|
|
Available for sale and short-term and |
46592 |
41671 |
other |
|
|
venture capital |
4160 |
3297 |
Trading account assets |
31540 |
33667 |
Loans held for sale |
4463 |
5013 |
Federal funds sold and securities purchased |
6048 |
6888 |
under resale agreements |
|
132255 |
Loans, net consumer |
148715 |
|
Commercial |
96738 |
88024 |
Loans, net of unearned income |
245453 |
220279 |
Allowance for credit losses |
(6679) |
(6617) |
Total loans, net |
238774 |
213662 |
Customers' acceptance liability |
1133 |
1280 |
Premises and equipment, net |
4900 |
5390 |
Interest and fees receivable |
3836 |
3900 |
Other assets |
23644 |
20492 |
Total |
388570 |
355934 |
Liabilities |
|
|
Non-interest-bearing deposits in U.S. offices |
19492 |
17058 |
Interest-bearing deposits in U.S. offices |
49462 |
44169 |
Non-interest-bearing deposits in offices out- |
12132 |
10856 |
side the U.S. |
|
|
Interest-bearing deposits in offices outside |
179627 |
154052 |
the U.S. |
|
|
Total deposits |
260713 |
226135 |
Trading account liabilities |
27429 |
30171 |
Purchased funds and other borrowings |
25096 |
25495 |
Acceptances outstanding |
1222 |
1381 |
84 |
|
|
|
|
BLOCK 7 |
Accrued taxes and other expense |
8416 |
7250 |
Other liabilities |
13204 |
13967 |
Long-term debt |
26443 |
26849 |
Stockholder's Equity |
|
— |
Common stocks |
— |
|
Surplus |
5844 |
5361 |
Retained earnings |
20498 |
19928 |
Accumulated other changes in equity from |
(295) |
(603) |
nonowner sources |
|
|
Total Stockholder's Equity |
26047 |
24686 |
Total |
388570 |
355934 |
Vocabulary Notes
balance sheet – баланс;
cash and due from banks - касса и корреспондентские сче- та в других банках;
deposits at interest with banks - межбанковские процент-
ные депозиты;
fair value - оценочная стоимость;
available for sale – легкореализуемые;
venture capital - венчурный капитал;
consumer loans - ссуды физическим лицам;
commercial loans - ссуды деловым предприятиям;
loans net of unearned income - ссуды за вычетом нара-
щенных, но не полученных процентов;
allowance for credit losses - скидка на возможные потери по ссудам;
customers' acceptance liability - обязательства клиентов по акцептным кредитам;
interest and fees receivable - проценты и комиссии к полу-
чению;
interest bearing deposits - депозиты, приносящие про-
центный доход;
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AN ENGLISH COURSE FOR STUDENTS OF FINANCE
non interest bearing deposits - депозиты, не приносящие процентный доход;
acceptances outstanding - обязательства по банковским акцептам;
accrued taxes - накопленные налоговые обязательства;
stockholder's equity - акционерный капитал;
common stocks - обыкновенные акции;
surplus - добавочный капитал;
retained earnings - нераспределенная прибыль;
accumulated other changes in equity from nonowner sources
-другие накопленные изменения в стоимости капитала, не обусловленные финансовыми операциями с владель- цами акций.
3.Consolidated statement of cash flows of Citicorp and subsidiaries
In millions of dollars |
1999 |
1998 |
Cash flows from operating activities |
|
|
Net income |
5195 |
3096 |
Adjustments to reconcile net income to net |
|
|
cash provided by operating activities |
|
|
Provision for credit losses |
2837 |
2751 |
Depreciation and amortization of premises |
917 |
817 |
and equipment |
|
|
Amortization of goodwill and acquisition |
297 |
257 |
premium costs |
|
|
Provision (benefit) for deferred taxes |
115 |
(103) |
Restructuring-related items and merger- |
154 |
1011 |
related costs |
|
|
Venture capital activity |
(863) |
(698) |
Net gain on sale of securities |
(332) |
(524) |
Changes in accruals and other, net |
(793) |
(4760) |
Net decrease (increase) in loans held for sale |
550 |
(1493) |
Net decrease (increase) in trading account |
2127 |
6689 |
assets |
|
|
86 |
|
|
|
|
BLOCK 7 |
Net (decrease) increase in trading account |
(2742) |
(815) |
liabilities |
|
|
Total adjustments |
2267 |
3132 |
Net cash provided by operating activities |
7462 |
6228 |
Cash flows from investing activities |
|
|
Net (increase) decrease in deposits at interest |
(452) |
1406 |
with banks |
|
|
Securities - available for sale |
|
(59137) |
Purchases |
(58617) |
|
Proceeds from sales |
25079 |
23570 |
Maturities |
28740 |
28980 |
Net decrease in federal funds sold and securi- |
840 |
3345 |
ties sold under repurchase agreements |
|
|
Net increase in loans |
(115743) |
(167505 |
Proceeds from sales of loans |
87906 |
) |
Business acquisitions |
|
146462 |
(2150) |
(3890) |
|
Capital expenditures on premises and equip- |
(1114) |
(1408) |
ment |
1281 |
718 |
Proceeds from sales of premises and equip- |
|
|
ment, subsidiaries and affiliates, and other real |
(34230) |
(27459) |
estate owned |
|
|
Net cash used in investing activities |
|
|
Cash flows from financing activities |
|
|
Net increase in deposits |
34578 |
27011 |
Net (decrease) increase in federal funds pur- |
(2445) |
(823) |
chased and securities sold under repurchase |
|
|
agreements |
|
(3764) |
Net increase (decrease) in commercial paper |
2027 |
|
and funds borrowed |
|
|
Proceeds from issuance of long-term debt |
3909 |
7688 |
Repayment of long-term debt |
(4354) |
(6951) |
Dividends paid |
(4625) |
(884) |
Contribution from Citigroup parent company |
321 |
628 |
|
|
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AN ENGLISH COURSE FOR STUDENTS OF FINANCE |
|
|
Redemption of preferred stock |
- |
(1040) |
Proceeds from issuance of common stock |
|
243 |
Treasury stock repurchases |
|
(483) |
Net cash provided by financing activities |
29411 |
21628 |
Effect of exchange rate changes on cash and |
(289) |
31 |
due from banks |
|
428 |
Net increase in cash and due from banks |
2354 |
|
Cash and due from banks at the beginning of |
9031 |
8603 |
the year |
11385 |
9031 |
Cash and due from banks at end of year |
|
|
Supplemental disclosure of cash flow infor- |
|
|
mation |
|
|
Cash paid during the year for |
|
|
Interest |
13415 |
14458 |
Income taxes |
2551 |
1949 |
Vocabulary Notes
statement of cash flows - отчет о движении денежных средств;
cash flows from operating activities - денежные потоки от текущей деятельности;
adjustments – корректировки;
reconcile - согласовывать, приводить в соответствие;
depreciation - уценка; износ;
goodwill - деловая репутация;
acquisition premium costs - издержки на выплату премии прежним владельцам поглощенной компании;
deferred taxes - отсроченные налоговые платежи;
net gain on sale of securities - чистая прибыль от реализа-
ции ценных бумаг;
accruals – начисления;
cash flows from investing activities - денежные потоки от инвестиционной деятельности;
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BLOCK 7
deposits at interest with banks - депозиты в других банках,
по которым выплачиваются проценты;
securities available for sale - легко реализуемые ценные бумаги;
proceeds from sales - поступления от продаж;
maturity – срок платежа по векселю;
business acquisitions - поглощения других компаний;
capital expenditures – капиталовложения;
real estate – недвижимость;
cash flows from financing activities - денежные потоки от финансовой деятельности;
commercial papers - краткосрочные векселя;
issuance of long term debt - эмиссия долгосрочных долго-
вых обязательств;
repayment – погашение;
contribution from parent company - финансовая помощь от материнской компании;
redemption of preferred stock - выкуп привилегирован-
ных акций;
treasury stock repurchases - выкуп собственных акций у акционеров;
exchange rate - обменный курс;
supplemental disclosure of information - дополнительное раскрытие информации.
4.Financial report of the small enterprise. ‘Balance sheet of HiFi Sounds’
In dollars
Assets
Cash |
794 |
411 |
Marketable securities |
0 |
0 |
Accounts receivable |
5776 |
1479 |
Inventory |
6073 |
2629 |
Prepaid expenses |
415 |
114 |
Other current assets |
173 |
0 |
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AN ENGLISH COURSE FOR STUDENTS OF FINANCE |
|
|
|
Current assets |
|
|
|
|
13231 |
4633 |
|
Gross fixed assets |
11162 |
5886 |
|
Less accumulated depreciation |
(992) |
(651) |
|
Net fixed assets |
|
10170 |
5235 |
Long-term investments |
0 |
0 |
|
Intangible assets |
0 |
0 |
|
Other noncurrent assets |
336 |
177 |
|
Total assets |
|
23737 |
10045 |
Liabilities and Equity |
|
|
|
Notes payable – bank |
2114 |
901 |
|
Accounts payable |
7688 |
3555 |
|
Income tax payable |
87 |
0 |
|
Current maturity - term notes |
0 |
0 |
|
Current maturity - long term debt |
474 |
525 |
|
Other current liabilities |
0 |
0 |
|
Current liabilities |
|
12322 |
6154 |
Deferred tax liability |
173 |
0 |
|
Term notes |
0 |
0 |
|
Long-term debt |
3015 |
2679 |
|
Other noncurrent liabilities |
224 |
250 |
|
Total liabilities |
|
15734 |
9083 |
Common stock – par |
93 |
75 |
|
Paid-in surplus |
6985 |
3349 |
|
Retained earnings |
925 |
(2462) |
|
Stockholders' equity |
|
8003 |
962 |
Total liabilities and equity |
23737 |
10045 |
|
Vocabulary Notes
marketable securities - ценные бумаги, имеющие рыночную котировку;
accounts receivable - счета к получению;
inventory - производственные запасы;
prepaid expenses - расходы оплаченные;
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