SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
AMENDMENT NO. 1
TO
ANNUAL REPORT
For the fiscal year ended December 31, 1997.
Citicorp
(Exact name of registrant as specified in charter)
DELAWARE 1-5738 13-2614988
(State or other jurisdiction (Commission File (IRS Employer Identification
of incorporation) Number) Number)
399 PARK AVENUE, NEW YORK, NEW YORK 10043
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code: (212) 559-1000
<PAGE>
On May 6, 1998, Citicorp hereby amends its Annual Report on Form 10-K for the
year ended December 31, 1997, to include Restated Financial Data Schedules for
(i) the Year Ended December 31, 1996 and (ii) the Year Ended December 31, 1995.
The Amendment is a result of the Corporation's adoption of Statement of
Financial Accounting Standards No. 128, "Earnings Per Share."
Accordingly, the undersigned registrant hereby amends the following items,
financial statements, exhibits or other portions of its Annual Report on Form
10-K for the fiscal year ended December 31, 1997, as set forth in the pages
attached hereto:
Exhibit 27.1 - Financial Data Schedule Restated for the Year December 31, 1996.
Exhibit 27.2 - Financial Data Schedule Restated for the Year December 31, 1995.
1
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Amendment No. 1 to be signed on its behalf by
the undersigned thereunto duly authorized.
CITICORP
(Registrant)
By: /s/Roger W. Trupin
--------------------------------
Roger W. Trupin
Vice President and Controller
Dated: May 6, 1998
<TABLE> <S> <C>
<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE CURRENT REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31,
1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS AND ACCOMPANYING DISCLOSURES.
</LEGEND>
<CIK> 0000020405
<NAME> CITICORP 1996
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<CASH> 6,905
<INT-BEARING-DEPOSITS> 11,648
<FED-FUNDS-SOLD> 11,133<F1>
<TRADING-ASSETS> 30,785
<INVESTMENTS-HELD-FOR-SALE> 26,062
<INVESTMENTS-CARRYING> 0
<INVESTMENTS-MARKET> 0
<LOANS> 174,612
<ALLOWANCE> 5,503
<TOTAL-ASSETS> 281,018
<DEPOSITS> 184,955
<SHORT-TERM> 18,191<F2>
<LIABILITIES-OTHER> 8,201
<LONG-TERM> 18,850
<COMMON> 506
0
2,078
<OTHER-SE> 18,138
<TOTAL-LIABILITIES-AND-EQUITY> 281,018
<INTEREST-LOAN> 18,509
<INTEREST-INVEST> 1,770
<INTEREST-OTHER> 3,070
<INTEREST-TOTAL> 23,349
<INTEREST-DEPOSIT> 8,974
<INTEREST-EXPENSE> 12,409
<INTEREST-INCOME-NET> 10,940
<LOAN-LOSSES> 1,926
<SECURITIES-GAINS> 210
<EXPENSE-OTHER> 4,110
<INCOME-PRETAX> 6,073
<INCOME-PRE-EXTRAORDINARY> 3,788
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 3,788
<EPS-PRIMARY> 7.73<F3>
<EPS-DILUTED> 7.43<F3>
<YIELD-ACTUAL> 4.73<F4>
<LOANS-NON> 3,092<F5>
<LOANS-PAST> 1,118<F6>
<LOANS-TROUBLED> 321
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 5,368
<CHARGE-OFFS> 847
<RECOVERIES> 712
<ALLOWANCE-CLOSE> 5,503<F7>
<ALLOWANCE-DOMESTIC> 0<F8>
<ALLOWANCE-FOREIGN> 0<F9>
<ALLOWANCE-UNALLOCATED> 0<F10>
<FN>
<F1> Includes Securities Purchased Under Resale Agreements.
<F2> Purchased Funds and Other Borrowings.
<F3> Restated to reflect the Corporation's adoption of Statement
of Financial Accounting Standards No. 128, "Earnings per Share".
<F4> Taxable Equivalent Basis.
<F5> Includes $905MM of cash-basis commercial loans and $2,187MM of
consumer loans on which accrual of interest has been suspended.
<F6> Accruing loans 90 or more days delinquent.
<F7> Allowance activity for the fiscal year of 1996 includes $65MM in
other changes, principally foreign exchange.
<F8> No portion of Citicorp's credit loss allowance is specifically
allocated to any individual loan or group of loans, however, $1,807MM
of the allowance at December 31, 1996 was attributed to operations
outside the U.S. (see Note 11 to the 1996 Annual Report).
<F9> See Footnote F8 above.
<F10> See Footnote F8 above.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE CURRENT REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31,
1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS AND ACCOMPANYING DISCLOSURES.
</LEGEND>
<CIK> 0000020405
<NAME> CITICORP 1995
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-01-1995
<PERIOD-END> DEC-31-1995
<CASH> 5,723
<INT-BEARING-DEPOSITS> 9,028
<FED-FUNDS-SOLD> 8,113<F1>
<TRADING-ASSETS> 32,093
<INVESTMENTS-HELD-FOR-SALE> 18,213
<INVESTMENTS-CARRYING> 0<F2>
<INVESTMENTS-MARKET> 0<F2>
<LOANS> 165,642
<ALLOWANCE> 5,368
<TOTAL-ASSETS> 256,853
<DEPOSITS> 167,131
<SHORT-TERM> 16,334<F3>
<LIABILITIES-OTHER> 9,767
<LONG-TERM> 17,151
<COMMON> 461
0
3,071
<OTHER-SE> 16,049
<TOTAL-LIABILITIES-AND-EQUITY> 256,853
<INTEREST-LOAN> 17,808
<INTEREST-INVEST> 1,544
<INTEREST-OTHER> 3,611
<INTEREST-TOTAL> 22,963
<INTEREST-DEPOSIT> 8,902
<INTEREST-EXPENSE> 13,012
<INTEREST-INCOME-NET> 9,951
<LOAN-LOSSES> 1,991
<SECURITIES-GAINS> 132
<EXPENSE-OTHER> 3,678
<INCOME-PRETAX> 5,585
<INCOME-PRE-EXTRAORDINARY> 3,464
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 3,464
<EPS-PRIMARY> 7.60<F4>
<EPS-DILUTED> 6.50<F4>
<YIELD-ACTUAL> 4.46<F5>
<LOANS-NON> 4,194<F6>
<LOANS-PAST> 997<F7>
<LOANS-TROUBLED> 421
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 5,155
<CHARGE-OFFS> 2,338
<RECOVERIES> 646
<ALLOWANCE-CLOSE> 5,368<F8>
<ALLOWANCE-DOMESTIC> 0<F9>
<ALLOWANCE-FOREIGN> 0<F10>
<ALLOWANCE-UNALLOCATED> 0<F11>
<FN>
<F1> Includes Securities Purchased Under Resale Agreements.
<F2> On November 30, 1995, Citicorp transferred $4,749MM of debt
securities from the held-to-maturity category to the available
for sale category at fair value ($4,334MM), as permitted under
guidelines issued by the FASB. As a result, stockholders' equity
was reduced $260MM (net of tax).
<F3> Purchased Funds and Other Borrowings.
<F4> Restated to reflect the Corporation's adoption of Statement
of Financial Accounting Standards No. 128, "Earnings per Share".
<F5> Taxable Equivalent Basis.
<F6> Includes $1,534MM of cash-basis commercial loans and $2,660MM of
consumer loans on which accrual of interest has been suspended.
<F7> Accruing loans 90 or more days delinquent.
<F8> Allowance activity for the fiscal year of 1995 includes $(86)MM
in other changes, principally foreign exchange effects and net
transfers (to) from the reserve for Consumer Sold Portfolios.
<F9> No portion of Citicorp's credit loss allowance is specifically
allocated to any individual loan or group of loans, however, $1,809MM
of the allowance at December 31, 1995 was attributed to operations
outside the U.S. (see Note 10 to the 1995 Annual Report).
<F10> See Footnote F9 above.
<F11> See Footnote F9 above.
</FN>
</TABLE>
