Citi’s earnings: Ugly, but in so many interesting ways

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Citigroup’s earnings release this morning is full of all sorts of interesting things beyond just that headline $9.83 billion fourth quarter loss. I imagine the most revealing stuff will be buried in the 10-Q that comes out later, and unearthed by people far more expert than I. Although as earnings releases go, this one is extremely detailed. Here are a few interesting numbers I stumbled across in a very cursory reading:

Citigroup net income, regional view, Q4 2007, in millions of dollars
U.S.: -9,030
Mexico: 482
Europe, Middle East and Africa: -3,139
Japan: 91
Asia (ex Japan): 1,425
Latin America: 464

Citigroup net income, product view, Q4 2007, in millions of dollars
(I’m leaving out a bunch of line items here)
U.S. Cards: 398
U.S. Retail Distribution: 245
U.S. Consumer Lending: -1,199
U.S. Commercial Business: 124
Securities and Banking: -11,632

That credit card income number is way down, from $852 million in the third quarter, thanks to “a $493 million pre-tax charge to increase loan loss reserves, reflecting a weakening of leading credit indicators in the portfolio and trends in the macro-economic environment.” But hey, at least cards still turned a profit.

As for mortgages, here are Citi’s origination volumes (in millions of dollars) this year:
Q1: 39,600
Q2: 46,200
Q3: 36,600
Q4: 29,500

And here are the loans 90+ days past due (also in millions of dollars):
Q1: 2,025
Q2: 2,527
Q3: 3,404
Q4: 4,348

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