GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in Goodwill were as follows:



In millions of dollars	Global Consumer Banking		Institutional Clients Group			Corporate/Other		Total
Balance at December 31, 2018	$	12,743	$	9,303		$	—	$	22,046
Foreign currency translation and other	—		(9		)	—		(9		)
Balance at March 31, 2019	$	12,743	$	9,294		$	—	$	22,037

There were no triggering events identified and no goodwill was impaired during the first quarter of 2019.

Goodwill impairment testing is performed at the level below each business segment (referred to as a reporting

unit). See Note 3 for further information on business

segments. For additional information regarding Citi’s goodwill impairment testing process, see Notes 1 and 16 to the Consolidated Financial Statements in Citi’s 2018 Annual Report on Form 10-K.

Intangible Assets

The components of intangible assets were as follows:



	March 31, 2019						December 31, 2018
In millions of dollars	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Purchased credit card relationships	$	5,734	$	3,985	$	1,749	$	5,733	$	3,936	$	1,797
Credit card contract-related intangibles⁽¹⁾	5,375		2,875		2,500		5,225		2,791		2,434
Core deposit intangibles	424		422		2		419		415		4
Other customer relationships	453		288		165		470		299		171
Present value of future profits	33		29		4		32		29		3
Indefinite-lived intangible assets	220		—		220		218		—		218
Other	84		79		5		84		75		9
Intangible assets (excluding MSRs)	$	12,323	$	7,678	$	4,645	$	12,181	$	7,545	$	4,636
Mortgage servicing rights (MSRs)⁽²⁾	551		—		551		584		—		584
Total intangible assets	$	12,874	$	7,678	$	5,196	$	12,765	$	7,545	$	5,220


(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 March 31, 2019 and December 31, 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, 2018		Acquisitions/ divestitures		Amortization			FX translation and other		March 31, 2019
Purchased credit card relationships⁽¹⁾	$	1,797	$	—	$	(48	)	$	—	$	1,749
Credit card contract-related intangibles⁽²⁾	2,434		—		(84		)	150		2,500
Core deposit intangibles	4		—		(2		)	—		2
Other customer relationships	171		—		(6		)	—		165
Present value of future profits	3		—		—			1		4
Indefinite-lived intangible assets	218		—		—			2		220
Other	9		—		(4		)	—		5
Intangible assets (excluding MSRs)	$	4,636	$	—	$	(144	)	$	153	$	4,645
Mortgage servicing rights (MSRs)⁽³⁾	584									551
Total intangible assets	$	5,220								$	5,196


(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, 2018 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 March 31, 2019 and December 31, 2018.

(3)

For additional information on Citi’s MSRs, including the rollforward for the three months ended March 31, 2019, see Note 18 to the Consolidated Financial Statements.