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GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 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
Foreign currency translation	39		96		135
Balance at June 30, 2020	$	11,876	$	9,523	$	21,399

Components of intangible assets, finite-lived

The components of intangible assets were as follows:


	June 30, 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	$	5,642	$	4,115	$	1,527	$	5,676	$	4,059	$	1,617
Credit card contract-related intangibles⁽¹⁾	3,427		1,192		2,235		5,393		3,069		2,324
Core deposit intangibles	42		42		—		434		433		1
Other customer relationships	428		289		139		424		275		149
Present value of future profits	27		25		2		34		31		3
Indefinite-lived intangible assets	194		—		194		228		—		228
Other	67		58		9		82		77		5
Intangible assets (excluding MSRs)	$	9,827	$	5,721	$	4,106	$	12,271	$	7,944	$	4,327
Mortgage servicing rights (MSRs)⁽²⁾	345		—		345		495		—		495
Total intangible assets	$	10,172	$	5,721	$	4,451	$	12,766	$	7,944	$	4,822

(1)Primarily reflects contract-related intangibles associated with the American Airlines, Costco, The Home Depot, and AT&T credit card program agreements, which represented 96% of the aggregate net carrying amount as of June 30, 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		June 30, 2020
Purchased credit card relationships⁽¹⁾	$	1,617	$	11	$	(99)	$	—	$	(2)	$	1,527
Credit card contract-related intangibles⁽²⁾	2,324		14		(101)		—		(2)		2,235
Core deposit intangibles	1		—		(1)		—		—		—
Other customer relationships	149		—		(12)		—		2		139
Present value of future profits	3		—		—		—		(1)		2
Indefinite-lived intangible assets	228		—		—		—		(34)		194
Other	5		7		(3)		—		—		9
Intangible assets (excluding MSRs)	$	4,327	$	32	$	(216)	$	—	$	(37)	$	4,106
Mortgage servicing rights (MSRs)⁽³⁾	495										345
Total intangible assets	$	4,822									$	4,451

(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, Costco, The Home Depot, and AT&T credit card program agreements, which represented 96% of the aggregate net carrying amount at June 30, 2020 and December 31, 2019.

(3)For additional information on Citi’s MSRs, including the rollforward for the three and six months ended June 30, 2020, see Note 18 to the Consolidated Financial Statements.

Components of intangible assets, indefinite-lived

The components of intangible assets were as follows:


	June 30, 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	$	5,642	$	4,115	$	1,527	$	5,676	$	4,059	$	1,617
Credit card contract-related intangibles⁽¹⁾	3,427		1,192		2,235		5,393		3,069		2,324
Core deposit intangibles	42		42		—		434		433		1
Other customer relationships	428		289		139		424		275		149
Present value of future profits	27		25		2		34		31		3
Indefinite-lived intangible assets	194		—		194		228		—		228
Other	67		58		9		82		77		5
Intangible assets (excluding MSRs)	$	9,827	$	5,721	$	4,106	$	12,271	$	7,944	$	4,327
Mortgage servicing rights (MSRs)⁽²⁾	345		—		345		495		—		495
Total intangible assets	$	10,172	$	5,721	$	4,451	$	12,766	$	7,944	$	4,822

(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		June 30, 2020
Purchased credit card relationships⁽¹⁾	$	1,617	$	11	$	(99)	$	—	$	(2)	$	1,527
Credit card contract-related intangibles⁽²⁾	2,324		14		(101)		—		(2)		2,235
Core deposit intangibles	1		—		(1)		—		—		—
Other customer relationships	149		—		(12)		—		2		139
Present value of future profits	3		—		—		—		(1)		2
Indefinite-lived intangible assets	228		—		—		—		(34)		194
Other	5		7		(3)		—		—		9
Intangible assets (excluding MSRs)	$	4,327	$	32	$	(216)	$	—	$	(37)	$	4,106
Mortgage servicing rights (MSRs)⁽³⁾	495										345
Total intangible assets	$	4,822									$	4,451

(3)For additional information on Citi’s MSRs, including the rollforward for the three and six months ended June 30, 2020, see Note 18 to the Consolidated Financial Statements.

Changes in intangible assets

The components of intangible assets were as follows:


	June 30, 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	$	5,642	$	4,115	$	1,527	$	5,676	$	4,059	$	1,617
Credit card contract-related intangibles⁽¹⁾	3,427		1,192		2,235		5,393		3,069		2,324
Core deposit intangibles	42		42		—		434		433		1
Other customer relationships	428		289		139		424		275		149
Present value of future profits	27		25		2		34		31		3
Indefinite-lived intangible assets	194		—		194		228		—		228
Other	67		58		9		82		77		5
Intangible assets (excluding MSRs)	$	9,827	$	5,721	$	4,106	$	12,271	$	7,944	$	4,327
Mortgage servicing rights (MSRs)⁽²⁾	345		—		345		495		—		495
Total intangible assets	$	10,172	$	5,721	$	4,451	$	12,766	$	7,944	$	4,822

(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		June 30, 2020
Purchased credit card relationships⁽¹⁾	$	1,617	$	11	$	(99)	$	—	$	(2)	$	1,527
Credit card contract-related intangibles⁽²⁾	2,324		14		(101)		—		(2)		2,235
Core deposit intangibles	1		—		(1)		—		—		—
Other customer relationships	149		—		(12)		—		2		139
Present value of future profits	3		—		—		—		(1)		2
Indefinite-lived intangible assets	228		—		—		—		(34)		194
Other	5		7		(3)		—		—		9
Intangible assets (excluding MSRs)	$	4,327	$	32	$	(216)	$	—	$	(37)	$	4,106
Mortgage servicing rights (MSRs)⁽³⁾	495										345
Total intangible assets	$	4,822									$	4,451

(3)For additional information on Citi’s MSRs, including the rollforward for the three and six months ended June 30, 2020, see Note 18 to the Consolidated Financial Statements.