Item 8.01 Other Events.
Citigroup Inc. (Citi) is filing this Current Report on Form 8-K, consistent with
ASC 280 Segment Reporting, to conform its Historical Consolidated Financial
Statements and Notes, and Management's Discussion and Analysis of Financial
Condition and Results of Operations and other Form 10-K sections (see exhibit
99.1 attached hereto) to reflect changes in Citi's reportable segments from
those contained in Citi's Annual Report on Form 10-K for the year ended December
31, 2021 (2021 Annual Report on Form 10-K) filed with the U.S. Securities and
Exchange Commission (SEC) on February 28, 2022.
As of December 31, 2021, Citi was managed pursuant to two operating
segments-Institutional Clients Group and Global Consumer Banking-with the
remaining operations in Corporate/Other. Citi conformed Exhibit 99.1 to reflect
its new financial reporting structure as of the first quarter of 2022, including
its three operating segments-Institutional Clients Group, Personal Banking and
Wealth Management and Legacy Franchises, with the remaining operations in
Corporate/Other. On May 9, 2022, Citi filed its Quarterly Report on Form 10-Q
for the quarter ended March 31, 2022 (First Quarter 2022 Form 10-Q) with the SEC
reflecting this new financial reporting structure.
The information included in this Current Report on Form 8-K reflects changes to
the disclosures related to Citi's revised segment results (including related
reclassifications between consumer and corporate loans, and related allowance
for credit losses) and does not revise Citi's consolidated financial condition
or results of operations nor does it reflect any events occurring after the
filing of the 2021 Annual Report on Form 10-K. The Historical Consolidated
Financial Statements and Notes will serve as the historical consolidated
financial statements and notes of Citi for existing and future filings made
pursuant to the Securities Act of 1933, as amended, until Citi files its Annual
Report on Form 10-K for the year ended December 31, 2022. This Current Report on
Form 8-K, including the information contained in Exhibit 99.1, should be read in
conjunction with Citi's 2021 Annual Report on Form 10-K and the First Quarter
2022 Form 10-Q.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number
99.1 Management's Discussion and Analysis of Financial Condition and
Results of Operations, the Historical Consolidated Financial Statements and
Notes and other Form 10-K sections of Citigroup Inc. for the year ended December
31, 2021, reflecting Citi's new financial reporting structure, and including the
Report of Independent Registered Public Accounting Firm dated February 25, 2022,
except as to Notes 1, 2, 3, 5, 14, 15 and 16, which are as of May 10,
2022 .
99.2 Consent of KPMG LLP.
99.3 Citigroup Inc. securities registered pursuant to Section 12(b) of
the Securities Exchange Act of 1934 as of the filing date.
101.1 The following Historical Consolidated Financial Statements and Notes on
Form 8-K of Citigroup Inc. for the year ended December 31, 2021, filed on May
10, 2022, formatted in XBRL: (i) the Consolidated Statement of Income, (ii) the
Consolidated Statement of Comprehensive Income, (iii) the Consolidated Balance
Sheet, (iv) the Consolidated Statement of Changes in Equity, (v) the
Consolidated Statement of Cash Flows and (vi) the Notes to the Consolidated
Financial Statements.
104.1 See the cover page of this Current Report on Form 8-K, formatted in
Inline XBRL.
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