GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2018

The changes in Goodwill were as follows:



In millions of dollars	Global Consumer Banking			Institutional Clients Group			Corporate/Other			Total
Balance at December 31, 2017	$	12,784		$	9,456		$	16		$	22,256
Foreign currency translation and other	$	184		$	235		$	—		$	419
Divestiture⁽¹⁾	—			—			(16		)	(16		)
Balance at March 31, 2018	$	12,968		$	9,691		$	—		$	22,659
Foreign exchange translation and other	$	(226	)	$	(375	)	$	—		$	(601	)
Balance at June 30, 2018	$	12,742		$	9,316		$	—		$	22,058
Foreign exchange translation and other	$	7		$	122		$	—		$	129
Balance at September 30, 2018	$	12,749		$	9,438		$	—		$	22,187


(1)	Goodwill allocated to the sale of the Citi Colombia consumer business, the only remaining business in Citi Holdings—Consumer Latin America reporting unit reported as part of Corporate/Other, which was classified as HFS beginning the first quarter of 2018. The sale was completed during the second quarter of 2018.

The components of intangible assets were as follows:



	September 30, 2018						December 31, 2017
In millions of dollars	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Purchased credit card relationships	$	5,732	$	3,890	$	1,842	$	5,375	$	3,836	$	1,539
Credit card contract related intangibles⁽¹⁾	5,042		2,708		2,334		5,045		2,456		2,589
Core deposit intangibles	438		433		5		639		628		11
Other customer relationships	463		289		174		459		272		187
Present value of future profits	34		30		4		32		28		4
Indefinite-lived intangible assets	227		—		227		244		—		244
Other	84		72		12		100		86		14
Intangible assets (excluding MSRs)	$	12,020	$	7,422	$	4,598	$	11,894	$	7,306	$	4,588
Mortgage servicing rights (MSRs)⁽²⁾	618		—		618		558		—		558
Total intangible assets	$	12,638	$	7,422	$	5,216	$	12,452	$	7,306	$	5,146


(1)	Primarily reflects contract-related intangibles associated with the American Airlines, The Home Depot, Costco, Sears and AT&T credit card program agreements, which represented 97% of the aggregate net carrying amount as of September 30, 2018.


(2)	For additional information on Citi’s MSRs, see Note 18 to the Consolidated Financial Statements.

The components of intangible assets were as follows:



	September 30, 2018						December 31, 2017
In millions of dollars	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Purchased credit card relationships	$	5,732	$	3,890	$	1,842	$	5,375	$	3,836	$	1,539
Credit card contract related intangibles⁽¹⁾	5,042		2,708		2,334		5,045		2,456		2,589
Core deposit intangibles	438		433		5		639		628		11
Other customer relationships	463		289		174		459		272		187
Present value of future profits	34		30		4		32		28		4
Indefinite-lived intangible assets	227		—		227		244		—		244
Other	84		72		12		100		86		14
Intangible assets (excluding MSRs)	$	12,020	$	7,422	$	4,598	$	11,894	$	7,306	$	4,588
Mortgage servicing rights (MSRs)⁽²⁾	618		—		618		558		—		558
Total intangible assets	$	12,638	$	7,422	$	5,216	$	12,452	$	7,306	$	5,146


(1)	Primarily reflects contract-related intangibles associated with the American Airlines, The Home Depot, Costco, Sears and AT&T credit card program agreements, which represented 97% of the aggregate net carrying amount as of September 30, 2018.


(2)	For additional information on Citi’s MSRs, see Note 18 to the Consolidated Financial Statements.

The changes in intangible assets were as follows:



	Net carrying amount at										Net carrying amount at
In millions of dollars	December 31, 2017		Acquisitions/ divestitures		Amortization			FX translation and other			September 30, 2018
Purchased credit card relationships⁽¹⁾	$	1,539	$	429	$	(124	)	$	(2	)	$	1,842
Credit card contract related intangibles⁽²⁾	2,589		—		(255		)	—			2,334
Core deposit intangibles	11		—		(6		)	—			5
Other customer relationships	187		—		(19		)	6			174
Present value of future profits	4		—		—			—			4
Indefinite-lived intangible assets	244		—		—			(17		)	227
Other	14		—		(9		)	7			12
Intangible assets (excluding MSRs)	$	4,588	$	429	$	(413	)	$	(6	)	$	4,598
Mortgage servicing rights (MSRs)⁽³⁾	558										618
Total intangible assets	$	5,146									$	5,216


(1)	Reflects intangibles for the value of cardholder relationships, which are discrete from partner contract intangibles and include credit card accounts primarily in the Costco, Macy’s and Sears portfolios. The increase since December 31, 2017 reflects the purchase of certain rights related to credit card accounts in the Sears portfolio.


(2)	Primarily reflects contract-related intangibles associated with the American Airlines, The Home Depot, Costco, Sears and AT&T credit card program agreements, which represented 97% of the aggregate net carrying amount at September 30, 2018 and December 31, 2017.


(3)	For additional information on Citi’s MSRs, including the rollforward for the nine months ended September 30, 2018, see Note 18 to the Consolidated Financial Statements.