GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2015

The changes in Goodwill during the six months ended June 30, 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
Foreign exchange translation and other	(123		)
Divestitures, purchase accounting adjustments and other	(15		)
Balance at June 30, 2015	$	23,012

The following table shows reporting units with goodwill balances as of June 30, 2015.



In millions of dollars
Reporting Unit⁽¹⁾⁽²⁾	Goodwill
North America Global Consumer Banking	$	6,729
EMEA Global Consumer Banking	310
Asia Global Consumer Banking	4,589
Latin America Global Consumer Banking	1,442
Banking	3,293
Markets and Securities Services	6,566
Citi Holdings—Consumer EMEA	13
Citi Holdings—Consumer Japan ⁽³⁾	—
Citi Holdings—Consumer Latin America	70
Total	$	23,012


(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)	The entire Citi Holdings—Consumer Japan reporting unit is classified as held-for-sale since the first quarter of 2015.

The components of intangible assets as of June 30, 2015 and December 31, 2014 were as follows:



	June 30, 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	$	7,610	$	6,404	$	1,206	$	7,626	$	6,294	$	1,332
Core deposit intangibles	1,102		999		103		1,153		1,021		132
Other customer relationships	478		335		143		579		331		248
Present value of future profits	165		158		7		233		154		79
Indefinite-lived intangible assets	272		—		272		290		—		290
Other⁽¹⁾	5,158		2,818		2,340		5,217		2,732		2,485
Intangible assets (excluding MSRs)	$	14,785	$	10,714	$	4,071	$	15,098	$	10,532	$	4,566
Mortgage servicing rights (MSRs) ⁽²⁾	1,924		—		1,924		1,845		—		1,845
Total intangible assets	$	16,709	$	10,714	$	5,995	$	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 six months ended June 30, 2015, see Note 20 to the Consolidated Financial Statements.

The changes in intangible assets during the six months ended June 30, 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⁾			June 30, 2015
Purchased credit card relationships	$	1,332	$	—		$	(134	)	$	—		$	8		$	1,206
Core deposit intangibles	132		—			(22		)	—			(7		)	103
Other customer relationships	248		(87		)	(12		)	—			(6		)	143
Present value of future profits	79		(65		)	(7		)	—			—			7
Indefinite-lived intangible assets	290		—			—			—			(18		)	272
Other	2,485		(6		)	(159		)	(5		)	25			2,340
Intangible assets (excluding MSRs)	$	4,566	$	(158	)	$	(334	)	$	(5	)	$	2		$	4,071
Mortgage servicing rights (MSRs) ⁽²⁾	1,845														1,924
Total intangible assets	$	6,411													$	5,995


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


(2)	For additional information on Citi’s MSRs, including the roll-forward for the six months ended June 30, 2015, see Note 20 to the Consolidated Financial Statements