GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2015

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



In millions of dollars
Reporting Unit⁽¹⁾⁽²⁾	Goodwill
North America Global Consumer Banking	$	6,714
EMEA Global Consumer Banking	299
Asia Global Consumer Banking	4,504
Latin America Global Consumer Banking	1,343
Banking	3,104
Markets and Securities Services	6,480
Total	$	22,444


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


(2)	Citi Holdings—Consumer EMEA, Citi Holdings—Consumer Japan and Citi Holdings—Consumer Latin America are excluded from the table as the remaining goodwill were either impaired or classified as held-for-sale.

The changes in Goodwill during the nine months ended September 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
Foreign exchange translation and other	$	(470	)
Impairment of goodwill	(15		)
Divestitures, purchase accounting adjustments and other	(83		)
Balance at September 30, 2015	$	22,444

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



	September 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	$	7,595	$	6,457	$	1,138	$	7,626	$	6,294	$	1,332
Core deposit intangibles	1,058		967		91		1,153		1,021		132
Other customer relationships	478		338		140		579		331		248
Present value of future profits	159		153		6		233		154		79
Indefinite-lived intangible assets	256		—		256		290		—		290
Other⁽¹⁾	5,097		2,848		2,249		5,217		2,732		2,485
Intangible assets (excluding MSRs)	$	14,643	$	10,763	$	3,880	$	15,098	$	10,532	$	4,566
Mortgage servicing rights (MSRs) ⁽²⁾	1,766		—		1,766		1,845		—		1,845
Total intangible assets	$	16,409	$	10,763	$	5,646	$	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 nine months ended September 30, 2015, see Note 20 to the Consolidated Financial Statements.

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



	September 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	$	7,595	$	6,457	$	1,138	$	7,626	$	6,294	$	1,332
Core deposit intangibles	1,058		967		91		1,153		1,021		132
Other customer relationships	478		338		140		579		331		248
Present value of future profits	159		153		6		233		154		79
Indefinite-lived intangible assets	256		—		256		290		—		290
Other⁽¹⁾	5,097		2,848		2,249		5,217		2,732		2,485
Intangible assets (excluding MSRs)	$	14,643	$	10,763	$	3,880	$	15,098	$	10,532	$	4,566
Mortgage servicing rights (MSRs) ⁽²⁾	1,766		—		1,766		1,845		—		1,845
Total intangible assets	$	16,409	$	10,763	$	5,646	$	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 nine months ended September 30, 2015, see Note 20 to the Consolidated Financial Statements.

The changes in intangible assets during the nine months ended September 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⁾			September 30, 2015
Purchased credit card relationships	$	1,332	$	—		$	(199	)	$	—		$	5		$	1,138
Core deposit intangibles	132		—			(32		)	—			(9		)	91
Other customer relationships	248		(87		)	(18		)	—			(3		)	140
Present value of future profits	79		(68		)	(4		)	—			(1		)	6
Indefinite-lived intangible assets	290		—			—			—			(34		)	256
Other	2,485		(21		)	(226		)	(5		)	16			2,249
Intangible assets (excluding MSRs)	$	4,566	$	(176	)	$	(479	)	$	(5	)	$	(26	)	$	3,880
Mortgage servicing rights (MSRs) ⁽²⁾	1,845														1,766
Total intangible assets	$	6,411													$	5,646


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


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