GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 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			Total
Balance at December 31, 2018	$	12,743		$	9,303		$	22,046
Foreign currency translation	—			(9		)	(9		)
Balance at March 31, 2019	$	12,743		$	9,294		$	22,037
Foreign exchange translation	$	(15	)	$	43		$	28
Balance at June 30, 2019	$	12,728		$	9,337		$	22,065

There were no triggering events identified and no goodwill was impaired during the three and six months ended June 30, 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:



	June 30, 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	$	5,666	$	3,964	$	1,702	$	5,733	$	3,936	$	1,797
Credit card contract-related intangibles⁽¹⁾	5,375		2,959		2,416		5,225		2,791		2,434
Core deposit intangibles	428		427		1		419		415		4
Other customer relationships	465		302		163		470		299		171
Present value of future profits	33		30		3		32		29		3
Indefinite-lived intangible assets	222		—		222		218		—		218
Other	82		71		11		84		75		9
Intangible assets (excluding MSRs)	$	12,271	$	7,753	$	4,518	$	12,181	$	7,545	$	4,636
Mortgage servicing rights (MSRs)⁽²⁾	508		—		508		584		—		584
Total intangible assets	$	12,779	$	7,753	$	5,026	$	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 June 30, 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		June 30, 2019
Purchased credit card relationships⁽¹⁾	$	1,797	$	—	$	(95	)	$	—	$	1,702
Credit card contract-related intangibles⁽²⁾	2,434		—		(168		)	150		2,416
Core deposit intangibles	4		—		(4		)	1		1
Other customer relationships	171		—		(12		)	4		163
Present value of future profits	3		—		—			—		3
Indefinite-lived intangible assets	218		—		—			4		222
Other	9		—		(5		)	7		11
Intangible assets (excluding MSRs)	$	4,636	$	—	$	(284	)	$	166	$	4,518
Mortgage servicing rights (MSRs)⁽³⁾	584									508
Total intangible assets	$	5,220								$	5,026


(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.


(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 June 30, 2019 and December 31, 2018.

(3)

For additional information on Citi’s MSRs, including the rollforward for the six months ended June 30, 2019, see Note 18 to the Consolidated Financial Statements.