GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2015

The changes in Goodwill during the three months ended March 31, 2015 were as follows:



In millions of dollars
Balance at December 31, 2014	$	23,592
Foreign exchange translation and other	$	(312	)
Impairment of goodwill	(16		)
Divestitures, purchase accounting adjustments and other	(114		)
Balance at March 31, 2015	$	23,150

The following table shows reporting units with goodwill balances as of March 31, 2015.



In millions of dollars
Reporting Unit⁽¹⁾⁽²⁾	Goodwill
North America Global Consumer Banking	$	6,725
EMEA Global Consumer Banking	293
Asia Global Consumer Banking	4,626
Latin America Global Consumer Banking	1,465
Banking	3,372
Markets and Securities Services	6,569
Latin America Retirement Services⁽³⁾	—
Citi Holdings—Consumer EMEA	23
Citi Holdings—Consumer Japan ⁽⁴⁾	—
Citi Holdings—Consumer Latin America	77
Total	$	23,150


(1)	Citi Holdings—Other and Citi Holdings—ICG are excluded from the table as there is no goodwill allocated to them.


(2)	Citi Holdings—Consumer Finance South Korea is excluded from the table as the allocated goodwill of $16 million was fully-impaired during the first quarter of 2015.


(3)	Latin America Retirement Services goodwill of $42 million was reclassified to Other assets held-for-sale as of March 31, 2015.


(4)	Citi Holdings—Consumer Japan goodwill of $61 million was

reclassified to Other assets held-for-sale as of March 31, 2015

The components of intangible assets as of March 31, 2015 and December 31, 2014 were as follows:



	March 31, 2015						December 31, 2014
In millions of dollars	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Purchased credit card relationships	$	7,618	$	6,355	$	1,263	$	7,626	$	6,294	$	1,332
Core deposit intangibles	1,122		1,006		116		1,153		1,021		132
Other customer relationships	518		335		183		579		331		248
Present value of future profits	163		156		7		233		154		79
Indefinite-lived intangible assets	281		—		281		290		—		290
Other⁽¹⁾	5,167		2,773		2,394		5,217		2,732		2,485
Intangible assets (excluding MSRs)	$	14,869	$	10,625	$	4,244	$	15,098	$	10,532	$	4,566
Mortgage servicing rights (MSRs) ⁽²⁾	1,685		—		1,685		1,845		—		1,845
Total intangible assets	$	16,554	$	10,625	$	5,929	$	16,943	$	10,532	$	6,411


(1)	Includes contract-related intangible assets.


(2)	For additional information on Citi’s MSRs, including the roll-forward for the three months ended March 31, 2015, see Note 20 to the Consolidated Financial Statements.

The changes in intangible assets during the three months ended March 31, 2015 were as follows:



	Net carrying amount at														Net carrying amount at
In millions of dollars	December 31, 2014		Acquisitions/ divestitures			Amortization			Impairments			FX and other ⁽¹⁾			March 31, 2015
Purchased credit card relationships	$	1,332	$	—		$	(68	)	$	—		$	(1	)	$	1,263
Core deposit intangibles	132		—			(11		)	—			(5		)	116
Other customer relationships	248		(55		)	(6		)	—			(4		)	183
Present value of future profits	79		(68		)	(3		)	—			(1		)	7
Indefinite-lived intangible assets	290		—			—			—			(9		)	281
Other	2,485		—			(81		)	(5		)	(5		)	2,394
Intangible assets (excluding MSRs)	$	4,566	$	(123	)	$	(169	)	$	(5	)	$	(25	)	$	4,244
Mortgage servicing rights (MSRs) ⁽²⁾	1,845														1,685
Total intangible assets	$	6,411													$	5,929


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


(2)	For additional information on Citi’s MSRs, including the roll-forward for the three months ended March 31, 2015, see Note 20 to the Consolidated Financial Statements