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GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Goodwill
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
)
Intersegment transfers in/(out) (4)
$
(177
)
$
—

$
177

$
—

Balance at December 31, 2014
$
13,217

$
10,156

$
219

$
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.
(4)
Primarily related to the transfers of businesses from Global Consumer Banking to Citi Holdings effective January 1, 2015. See Note 3 to the Consolidated Financial Statements.
Goodwill by reporting units
The following table shows the goodwill balances for each reporting unit under the new reporting structures effective January 1, 2015, as if they were already in existence at December 31, 2014. The fair value as a percentage of allocated book value is based on the most recent 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
188

309

Asia Global Consumer Banking
279

4,627

Latin America Global Consumer Banking
221

1,525

Banking
404

3,481

Markets and Securities Services
200

6,675

Latin America Retirement Services
193

42

Citi Holdings-Consumer EMEA
107

23

Citi Holdings-Consumer Japan
191

61

Citi Holdings-Consumer Finance of South Korea( 2)

46

16

Citi Holdings-Consumer Latin America
151

77

Total
 
$
23,592


(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 of South Korea’s allocated goodwill was fully-impaired as of January 1, 2015.
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