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OPERATING SEGMENTS
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
OPERATING SEGMENTS OPERATING SEGMENTS
Effective January 1, 2022, Citi changed its management structure resulting in changes in its operating segments and reporting units to reflect how the CEO, who is the chief operating decision maker, intends to manage the Company, allocate resources and measure performance. Citi reorganized its reporting into three operating segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM) and Legacy Franchises, with Corporate/Other including activities not assigned to a specific operating segment, as well as discontinued operations. The prior-period balances reflect reclassifications to conform the presentation in those periods to the current operating segment structure. Citi’s consolidated results were not impacted by the changes discussed above and remain unchanged for all periods presented.
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 the products and services provided.
ICG consists of Services, Markets and Banking, providing corporate, institutional and public sector clients around the world with a full range of wholesale banking products and services.
PBWM consists of U.S. Personal Banking and Global Wealth Management (Global Wealth), providing traditional banking services and credit cards to retail and small business customers in the U.S., and financial services to the entire continuum of wealth clients—from affluent to ultra-high-net-worth—through banking, lending, mortgages, investment, custody and trust product offerings in approximately 20 countries, including the U.S., Mexico and the four wealth management centers: Singapore, Hong Kong, the UAE and London.
Legacy Franchises consists of Asia Consumer and Mexico Consumer/SBMM businesses that Citi intends to exit, and its remaining Legacy Holdings Assets.
Corporate/Other includes activities not assigned to the operating segments, including certain unallocated costs of global functions, other corporate expenses and net treasury results, offsets to certain line-item reclassifications and eliminations, and unallocated taxes, as well as discontinued operations.
The following tables present certain information regarding the Company’s continuing operations by operating segment and Corporate/Other:
Three Months Ended June 30,
In millions of dollars, except identifiable assets, average loans and average deposits in billionsICGPBWMLegacy FranchisesCorporate/OtherTotal Citi
2022202120222021202220212022202120222021
Net interest income$4,520 $3,760 $5,569 $4,985 $1,474 $1,621 $401 $112 $11,964 $10,478 
Non-interest revenue6,899 5,789 460 713 461 658 (146)115 7,674 7,275 
Total revenues, net of interest expense$11,419 $9,549 $6,029 $5,698 $1,935 $2,279 $255 $227 $19,638 $17,753 
Operating expense6,434 5,829 3,985 3,547 1,814 1,788 160 307 12,393 11,471 
Provisions for credit losses(202)(694)1,355 (170)121 (204)— 2 1,274 (1,066)
Income (loss) from continuing operations before taxes$5,187 $4,414 $689 $2,321 $— $695 $95 $(82)$5,971 $7,348 
Provision (benefits) for income taxes1,209 981 136 516 15 203 (178)(545)1,182 1,155 
Income (loss) from continuing operations$3,978 $3,433 $553 $1,805 $(15)$492 $273 $463 $4,789 $6,193 
Identifiable assets (June 30, 2022 and December 31, 2021)
$1,700 $1,613 $479 $464 $108 $125 $94 $89 $2,381 $2,291 
Average loans297 287 317 304 43 79 — — 657 670 
Average deposits830 818 435 410 51 85 7 8 1,323 1,321 
Six Months Ended June 30,
In millions of dollars, except average loans and average deposits in billionsICGPBWMLegacy FranchisesCorporate/OtherTotal Citi
2022202120222021202220212022202120222021
Net interest income$8,304 $7,493 $10,954 $10,150 $2,982 $3,184 $595 $157 $22,835 $20,984 
Non-interest revenue14,275 13,444 980 1,540 884 1,338 (150)114 15,989 16,436 
Total revenues, net of interest expense$22,579 $20,937 $11,934 $11,690 $3,866 $4,522 $445 $271 $38,824 $37,420 
Operating expense13,157 11,761 7,874 6,969 4,107 3,540 420 614 25,558 22,884 
Provisions for credit losses769 (2,233)979 (727)281 (160)— (1)2,029 (3,121)
Income (loss) from continuing operations before taxes$8,653 $11,409 $3,081 $5,448 $(522)$1,142 $25 $(342)$11,237 $17,657 
Provision (benefits) for income taxes2,017 2,546 668 1,223 (122)330 (440)(612)2,123 3,487 
Income (loss) from continuing operations$6,636 $8,863 $2,413 $4,225 $(400)$812 $465 $270 $9,114 $14,170 
Average loans$293 $284 $315 $304 $45 $80 $— $— $653 $668 
Average deposits828 814 441 404 53 85 7 10 1,329 1,313