Citigroup and Their Operating Profit

I read John Mauldin's Outside The Box and Thoughts From The Frontline whenever I receive them in my inbox. Today's was interesting as usual. Here's a rather humorous quote to spark your interests:

"Citigroup could burst into flames while Vikram Pandit sells lemonade in the parking lot, and Citi would still post an operating profit. Operating profits exclude what happens on the balance sheet."