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GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in Goodwill were as follows:



In millions of dollars	Global Consumer Banking			Institutional Clients Group			Total
Balance at December 31, 2019	$	12,102		$	10,024		$	22,126
Foreign currency translation	(265		)	(597		)	(862		)
Balance at March 31, 2020	$	11,837		$	9,427		$	21,264

Components of intangible assets, finite-lived

The components of intangible assets were as follows:



	March 31, 2020						December 31, 2019
In millions of dollars	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Purchased credit card relationships	$	5,634	$	4,060	$	1,574	$	5,676	$	4,059	$	1,617
Credit card contract-related intangibles⁽¹⁾	3,417		1,138		2,279		5,393		3,069		2,324
Core deposit intangibles	42		42		—		434		433		1
Other customer relationships	424		281		143		424		275		149
Present value of future profits	27		24		3		34		31		3
Indefinite-lived intangible assets	191		—		191		228		—		228
Other	60		57		3		82		77		5
Intangible assets (excluding MSRs)	$	9,795	$	5,602	$	4,193	$	12,271	$	7,944	$	4,327
Mortgage servicing rights (MSRs)⁽²⁾	367		—		367		495		—		495
Total intangible assets	$	10,162	$	5,602	$	4,560	$	12,766	$	7,944	$	4,822


(1)	Primarily reflects contract-related intangibles associated with the American Airlines, The Home Depot, Costco and AT&T credit card program agreements, which represented 96% of the aggregate net carrying amount as of March 31, 2020 and December 31, 2019.


(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, 2019		Acquisitions/ divestitures		Amortization			Impairments		FX translation and other			March 31, 2020
Purchased credit card relationships⁽¹⁾	$	1,617	$	11	$	(50	)	$	—	$	(4	)	$	1,574
Credit card contract-related intangibles⁽²⁾	2,324		9		(50		)	—		(4		)	2,279
Core deposit intangibles	1		—		—			—		(1		)	—
Other customer relationships	149		—		(6		)	—		—			143
Present value of future profits	3		—		—			—		—			3
Indefinite-lived intangible assets	228		—		—			—		(37		)	191
Other	5		—		(2		)	—		—			3
Intangible assets (excluding MSRs)	$	4,327	$	20	$	(108	)	$	—	$	(46	)	$	4,193
Mortgage servicing rights (MSRs)⁽³⁾	495												367
Total intangible assets	$	4,822											$	4,560


(1)	Reflects intangibles for the value of cardholder relationships, which are discrete from partner contract-related intangibles and include credit card accounts primarily in the Costco and Macy’s portfolios.


(2)	Primarily reflects contract-related intangibles associated with the American Airlines, The Home Depot, Costco and AT&T credit card program agreements, which represented 96% of the aggregate net carrying amount at March 31, 2020 and December 31, 2019.

(3)

For additional information on Citi’s MSRs, including the rollforward for the three months ended March 31, 2020, see Note 18 to the Consolidated Financial Statements.

Components of intangible assets, indefinite-lived

The components of intangible assets were as follows:



	March 31, 2020						December 31, 2019
In millions of dollars	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Purchased credit card relationships	$	5,634	$	4,060	$	1,574	$	5,676	$	4,059	$	1,617
Credit card contract-related intangibles⁽¹⁾	3,417		1,138		2,279		5,393		3,069		2,324
Core deposit intangibles	42		42		—		434		433		1
Other customer relationships	424		281		143		424		275		149
Present value of future profits	27		24		3		34		31		3
Indefinite-lived intangible assets	191		—		191		228		—		228
Other	60		57		3		82		77		5
Intangible assets (excluding MSRs)	$	9,795	$	5,602	$	4,193	$	12,271	$	7,944	$	4,327
Mortgage servicing rights (MSRs)⁽²⁾	367		—		367		495		—		495
Total intangible assets	$	10,162	$	5,602	$	4,560	$	12,766	$	7,944	$	4,822


(1)	Primarily reflects contract-related intangibles associated with the American Airlines, The Home Depot, Costco and AT&T credit card program agreements, which represented 96% of the aggregate net carrying amount as of March 31, 2020 and December 31, 2019.


(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, 2019		Acquisitions/ divestitures		Amortization			Impairments		FX translation and other			March 31, 2020
Purchased credit card relationships⁽¹⁾	$	1,617	$	11	$	(50	)	$	—	$	(4	)	$	1,574
Credit card contract-related intangibles⁽²⁾	2,324		9		(50		)	—		(4		)	2,279
Core deposit intangibles	1		—		—			—		(1		)	—
Other customer relationships	149		—		(6		)	—		—			143
Present value of future profits	3		—		—			—		—			3
Indefinite-lived intangible assets	228		—		—			—		(37		)	191
Other	5		—		(2		)	—		—			3
Intangible assets (excluding MSRs)	$	4,327	$	20	$	(108	)	$	—	$	(46	)	$	4,193
Mortgage servicing rights (MSRs)⁽³⁾	495												367
Total intangible assets	$	4,822											$	4,560


(1)	Reflects intangibles for the value of cardholder relationships, which are discrete from partner contract-related intangibles and include credit card accounts primarily in the Costco and Macy’s portfolios.


(2)	Primarily reflects contract-related intangibles associated with the American Airlines, The Home Depot, Costco and AT&T credit card program agreements, which represented 96% of the aggregate net carrying amount at March 31, 2020 and December 31, 2019.

(3)

For additional information on Citi’s MSRs, including the rollforward for the three months ended March 31, 2020, see Note 18 to the Consolidated Financial Statements.

Changes in intangible assets

The components of intangible assets were as follows:



	March 31, 2020						December 31, 2019
In millions of dollars	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Purchased credit card relationships	$	5,634	$	4,060	$	1,574	$	5,676	$	4,059	$	1,617
Credit card contract-related intangibles⁽¹⁾	3,417		1,138		2,279		5,393		3,069		2,324
Core deposit intangibles	42		42		—		434		433		1
Other customer relationships	424		281		143		424		275		149
Present value of future profits	27		24		3		34		31		3
Indefinite-lived intangible assets	191		—		191		228		—		228
Other	60		57		3		82		77		5
Intangible assets (excluding MSRs)	$	9,795	$	5,602	$	4,193	$	12,271	$	7,944	$	4,327
Mortgage servicing rights (MSRs)⁽²⁾	367		—		367		495		—		495
Total intangible assets	$	10,162	$	5,602	$	4,560	$	12,766	$	7,944	$	4,822


(1)	Primarily reflects contract-related intangibles associated with the American Airlines, The Home Depot, Costco and AT&T credit card program agreements, which represented 96% of the aggregate net carrying amount as of March 31, 2020 and December 31, 2019.


(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, 2019		Acquisitions/ divestitures		Amortization			Impairments		FX translation and other			March 31, 2020
Purchased credit card relationships⁽¹⁾	$	1,617	$	11	$	(50	)	$	—	$	(4	)	$	1,574
Credit card contract-related intangibles⁽²⁾	2,324		9		(50		)	—		(4		)	2,279
Core deposit intangibles	1		—		—			—		(1		)	—
Other customer relationships	149		—		(6		)	—		—			143
Present value of future profits	3		—		—			—		—			3
Indefinite-lived intangible assets	228		—		—			—		(37		)	191
Other	5		—		(2		)	—		—			3
Intangible assets (excluding MSRs)	$	4,327	$	20	$	(108	)	$	—	$	(46	)	$	4,193
Mortgage servicing rights (MSRs)⁽³⁾	495												367
Total intangible assets	$	4,822											$	4,560


(1)	Reflects intangibles for the value of cardholder relationships, which are discrete from partner contract-related intangibles and include credit card accounts primarily in the Costco and Macy’s portfolios.


(2)	Primarily reflects contract-related intangibles associated with the American Airlines, The Home Depot, Costco and AT&T credit card program agreements, which represented 96% of the aggregate net carrying amount at March 31, 2020 and December 31, 2019.

(3)

For additional information on Citi’s MSRs, including the rollforward for the three months ended March 31, 2020, see Note 18 to the Consolidated Financial Statements.