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OPERATING SEGMENTS
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
OPERATING SEGMENTS OPERATING SEGMENTS
As of December 31, 2021, Citigroup’s primary activities were conducted through the following operating segments: Institutional Clients Group (ICG) and Global Consumer Banking (GCB). Activities not assigned to the operating segments, as well as certain North America legacy consumer loan portfolios, discontinued operations and other legacy assets, were included in Corporate/Other.
The operating segments are determined based on how management allocates resources and measures financial performance to make business decisions, and are reflective of the types of customers served, and products and services provided.
ICG consisted of Banking and Markets and securities services, providing institutional, public sector and high-net-worth clients in 95 countries and jurisdictions with a broad range of banking and financial products and services.
GCB included a global, full-service consumer franchise delivering a wide array of banking, credit card, lending and investment services through a network of local branches, offices and electronic delivery systems and consisted of three GCB reporting units: North America, Latin America and Asia (including consumer banking activities in certain EMEA countries).
Corporate/Other included certain unallocated costs of global functions, other corporate expenses and net treasury results, offsets to certain line-item reclassifications and eliminations, and unallocated taxes.
Beginning in 2021, Citi changed its allocation for certain recurring expenses that are attributable to the operating segments from Corporate/Other to GCB and ICG. These expenses include incremental investments related to risks and controls, technology capabilities and information security initiatives, as well as some incremental spend related to the pandemic. The prior-period reportable operating segment results have been revised to conform to the current-year presentation for all periods to reflect this revised allocation methodology. Citi’s consolidated results were unchanged for all periods presented as a result of the changes discussed above.
As part of its strategic refresh, Citi is making management reporting changes to align with its vision and strategy, including to assist Citi in decisions about resources and capital allocation and to assess business performance. In the first quarter of 2022, Citi plans to revise its financial reporting structure to align with these management reporting changes.
The accounting policies of these operating segments are the same as those disclosed in Note 1 to the Consolidated Financial Statements.
The following table presents certain information regarding the Company’s continuing operations by operating segment and Corporate/Other:
Revenues,
net of interest expense(1)
Provision (benefits)
for income taxes
Income (loss) from
continuing operations(2)
Identifiable assets
In millions of dollars, except identifiable assets in billions20212020201920212020201920212020201920212020
Institutional Clients Group$43,887 $45,088 $39,824 $4,524 $3,303 $3,524 $15,763 $11,553 $12,776 $1,762 $1,730 
Global Consumer Banking27,330 30,342 33,221 1,745 143 1,708 6,046 663 5,579 432 434 
Corporate/Other667 71 2,022 (818)(921)(802)209 (1,109)1,116 97 96 
Total$71,884 $75,501 $75,067 $5,451 $2,525 $4,430 $22,018 $11,107 $19,471 $2,291 $2,260 

(1)     Includes total revenues, net of interest expense (excluding Corporate/Other), in North America of $34.2 billion, $36.8 billion and $34.1 billion; in EMEA of $13.1 billion, $13.0 billion and $12.2 billion; in Latin America of $9.2 billion, $9.4 billion and $10.6 billion; and in Asia of $14.7 billion, $16.2 billion and $16.2 billion in 2021, 2020 and 2019, respectively. These regional numbers exclude Corporate/Other, which largely reflects U.S. activities.
(2)     Includes pretax provisions for credit losses and for benefits and claims in the ICG results of $(2.9) billion, $5.6 billion and $0.6 billion; in the GCB results of $(0.5) billion, $11.7 billion and $7.9 billion; and in the Corporate/Other results of $(0.4) billion, $0.2 billion and $(0.1) billion in 2021, 2020 and 2019, respectively.