LEASES

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

LEASES

LEASES

The Company’s operating leases, where Citi is a lessee, include real estate such as office space and branches and various types of equipment. These leases have a weighted-average remaining lease term of approximately six years as of September 30, 2022.

For additional information regarding Citi’s leases, see Note 1 and Note 26 to the Consolidated Financial Statements in Citi’s 2021 Form 10-K.

The following table presents information on the Right of Use (ROU) asset and lease liabilities included in Other assets and Other liabilities, respectively.

In millions of dollars	September 30, 2022		December 31, 2021
ROU asset	$	2,932	$	2,914
Lease liability	3,118		3,116

The Company recognizes fixed lease costs on a straight-line basis throughout the lease term in the Consolidated Statement of Income. In addition, variable lease costs are recognized in the period in which the obligation for those payments is incurred.