GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in Goodwill during 2014 and 2013 were as follows:



In millions of dollars
Balance at December 31, 2012	$	25,673
Foreign exchange translation	$	(577	)
Smaller acquisitions/divestitures, purchase accounting adjustments and other	(25		)
Sale of Brazil Credicard	(62		)
Balance at December 31, 2013	$	25,009
Foreign exchange translation and other	$	(1,214	)
Smaller acquisitions/divestitures, purchase accounting adjustments and other	(203		)
Balance at December 31, 2014	$	23,592

Changes in Goodwill by segment

The changes in Goodwill by segment during 2014 and 2013 were as follows:



In millions of dollars	Global Consumer Banking			Institutional Clients Group			Citi Holdings			Total
Balance at December 31, 2012	$	14,539		$	10,981		$	153		$	25,673
Goodwill disposed of during 2013 ⁽¹⁾	$	(82	)	$	—		$	—		$	(82	)
Other ⁽²⁾	(472		)	(113		)	3			$	(582	)
Balance at December 31, 2013	$	13,985		$	10,868		$	156		$	25,009
Goodwill disposed of during 2014 ⁽³⁾	$	(86	)	$	(1	)	$	(116	)	$	(203	)
Other ⁽²⁾	(505		)	(711		)	2			$	(1,214	)
Balance at December 31, 2014	$	13,394		$	10,156		$	42		$	23,592


(1)	Primarily related to the sale of Credicard. See Note 2 to the Consolidated Financial Statements.


(2)	Other changes in Goodwill primarily reflect foreign exchange effects on non-dollar-denominated goodwill and purchase accounting adjustments.


(3)	Primarily related to the sale of the Spain consumer operations and the agreement to sell the Japan retail banking business. See Note 2 to the Consolidated Financial Statements.

Goodwill by reporting units

The following table shows reporting units with goodwill balances as of December 31, 2014 and the fair value as a percentage of allocated book value as of the annual impairment test.



In millions of dollars
Reporting Unit⁽¹⁾	Fair Value as a % of allocated book value		Goodwill
North America Global Consumer Banking	260	%	$	6,756
EMEA Global Consumer Banking	178		332
Asia Global Consumer Banking	264		4,704
Latin America Global Consumer Banking	214		1,602
Banking	404		3,481
Markets and Securities Services	200		6,675
Latin America Retirement Services	193		42


(1)	Citi Holdings—Other is excluded from the table as there is no goodwill allocated to it.

Components of intangible assets

The components of intangible assets as of December 31, 2014 and December 31, 2013 were as follows:



	December 31, 2014						December 31, 2013
In millions of dollars	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Purchased credit card relationships	$	7,626	$	6,294	$	1,332	$	7,552	$	6,006	$	1,546
Core deposit intangibles	1,153		1,021		132		1,255		1,052		203
Other customer relationships	579		331		248		675		389		286
Present value of future profits	233		154		79		238		146		92
Indefinite-lived intangible assets	290		—		290		323		—		323
Other⁽¹⁾	5,217		2,732		2,485		5,073		2,467		2,606
Intangible assets (excluding MSRs)	$	15,098	$	10,532	$	4,566	$	15,116	$	10,060	$	5,056
Mortgage servicing rights (MSRs) ⁽²⁾	1,845		—		1,845		2,718		—		2,718
Total intangible assets	$	16,943	$	10,532	$	6,411	$	17,834	$	10,060	$	7,774


(1)	Includes contract-related intangible assets.


(2)	For additional information on Citi’s MSRs, including the roll-forward from 2013 to 2014, see Note 22 to the Consolidated Financial Statements.

Changes in intangible assets

The changes in intangible assets during the 12 months ended December 31, 2014 were as follows:



	Net carrying amount at														Net carrying amount at
In millions of dollars	December 31, 2013		Acquisitions/ divestitures			Amortization			Impairments			FX and other ⁽¹⁾			December 31, 2014
Purchased credit card relationships	$	1,546	$	110		$	(324	)	$	—		$	—		$	1,332
Core deposit intangibles	203		(6		)	(59		)	—			(6		)	132
Other customer relationships	286		14			(28		)	—			(24		)	248
Present value of future profits	92		—			(12		)	—			(1		)	79
Indefinite-lived intangible assets	323		(2		)	—			—			(31		)	290
Other	2,606		157			(333		)	(2		)	57			2,485
Intangible assets (excluding MSRs)	$	5,056	$	273		$	(756	)	$	(2	)	$	(5	)	$	4,566
Mortgage servicing rights (MSRs) ⁽²⁾	2,718														1,845
Total intangible assets	$	7,774													$	6,411


(1)	Includes foreign exchange translation and purchase accounting adjustments.


(2)	For additional information on Citi’s MSRs, including the roll-forward from 2013 to 2014, see Note 22 to the Consolidated Financial Statements