GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

The following table shows reporting units with goodwill balances as of September 30, 2017 and the fair value as a percentage of allocated book value as of the 2017 annual goodwill impairment test:



In millions of dollars
Reporting unit	Goodwill		Fair value as a % of allocated book value
North America Global Consumer Banking	$	6,732	157	%
Asia Global Consumer Banking	4,893		143
Latin America Global Consumer Banking	1,174		191
ICG—Banking	2,986		268
ICG—Markets and Securities Services	6,544		132
Citi Holdings—Consumer Latin America⁽¹⁾	16		103
Total as of September 30, 2017	$	22,345


(1)	All Citi Holdings reporting units are presented in the Corporate/Other segment beginning in the first quarter of 2017.

The changes in Goodwill were as follows:



In millions of dollars
Balance, December 31, 2016	$	21,659
Foreign exchange translation and other	$	634
Impairment of goodwill ⁽¹⁾	(28		)
Balance at March 31, 2017	$	22,265
Foreign exchange translation and other	$	156
Impairment of goodwill	—
Divestitures⁽²⁾	(72		)
Balance at June 30, 2017	$	22,349
Foreign exchange translation and other	$	(4	)
Balance at September 30, 2017	$	22,345


(1)	Full impairment of the allocated goodwill related to the transferred mortgage servicing business upon transfer from North America GCB to Citi Holdings—REL effective January 1, 2017.


(2)	Goodwill allocated to the sale of the Fixed Income Analytics and Index businesses classified as held-for-sale during the second quarter of 2017. The sale was completed during the third quarter of 2017. See Note 2 to the Consolidated Financial Statements.

Components of intangible assets, finite-lived

The components of intangible assets were as follows:



	September 30, 2017						December 31, 2016
In millions of dollars	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Purchased credit card relationships	$	5,377	$	3,798	$	1,579	$	8,215	$	6,549	$	1,666
Credit card contract related intangibles⁽¹⁾	5,045		2,357		2,688		5,149		2,177		2,972
Core deposit intangibles	670		656		14		801		771		30
Other customer relationships	462		269		193		474		272		202
Present value of future profits	35		31		4		31		27		4
Indefinite-lived intangible assets	232		—		232		210		—		210
Other	113		91		22		504		474		30
Intangible assets (excluding MSRs)	$	11,934	$	7,202	$	4,732	$	15,384	$	10,270	$	5,114
Mortgage servicing rights (MSRs)⁽²⁾	553		—		553		1,564		—		1,564
Total intangible assets	$	12,487	$	7,202	$	5,285	$	16,948	$	10,270	$	6,678

Components of intangible assets, indefinite-lived

The components of intangible assets were as follows:



	September 30, 2017						December 31, 2016
In millions of dollars	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Purchased credit card relationships	$	5,377	$	3,798	$	1,579	$	8,215	$	6,549	$	1,666
Credit card contract related intangibles⁽¹⁾	5,045		2,357		2,688		5,149		2,177		2,972
Core deposit intangibles	670		656		14		801		771		30
Other customer relationships	462		269		193		474		272		202
Present value of future profits	35		31		4		31		27		4
Indefinite-lived intangible assets	232		—		232		210		—		210
Other	113		91		22		504		474		30
Intangible assets (excluding MSRs)	$	11,934	$	7,202	$	4,732	$	15,384	$	10,270	$	5,114
Mortgage servicing rights (MSRs)⁽²⁾	553		—		553		1,564		—		1,564
Total intangible assets	$	12,487	$	7,202	$	5,285	$	16,948	$	10,270	$	6,678

Changes in intangible assets

The changes in intangible assets were as follows:



	Net carrying amount at										Net carrying amount at
In millions of dollars	December 31, 2016		Acquisitions/ divestitures			Amortization			FX translation and other		September 30, 2017
Purchased credit card relationships	$	1,666	$	20		$	(109	)	$	2	$	1,579
Credit card contract related intangibles⁽¹⁾	2,972		9			(295		)	2		2,688
Core deposit intangibles	30		—			(18		)	2		14
Other customer relationships	202		—			(17		)	8		193
Present value of future profits	4		—			—			—		4
Indefinite-lived intangible assets	210		—			—			22		232
Other	30		(14		)	(11		)	17		22
Intangible assets (excluding MSRs)	$	5,114	$	15		$	(450	)	$	53	$	4,732
Mortgage servicing rights (MSRs)⁽²⁾	1,564										553
Total intangible assets	$	6,678									$	5,285


(1)	Primarily reflects contract-related intangibles associated with the American Airlines, Sears, The Home Depot, Costco and AT&T credit card program agreements, which represented 97% of the aggregate net carrying amount at September 30, 2017 and December 31, 2016.


(2)	For additional information on Citi’s MSRs, including the rollforward for the nine months ended September 30, 2017, see Note 18 to the Consolidated Financial Statements.