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OPERATING SEGMENTS
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
OPERATING SEGMENTS OPERATING SEGMENTS
The operating segments and reporting units reflect how the CEO, who is the chief operating decision maker, manages the Company, including allocating resources and measuring performance.
Citigroup’s activities are conducted through 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.
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 primarily in the U.S., and financial services to clients from affluent to ultra-high-net-worth through banking, lending, mortgages, investment, custody and trust product offerings in 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 corporate treasury results, offsets to certain line-item reclassifications and eliminations and unallocated taxes, as well as discontinued operations.
Revenues and expenses directly associated with each respective business segment or component are included in determining respective operating results. Other revenues and expenses that are not directly attributable to a particular business segment or component are generally allocated from Corporate/Other based on respective net revenues, non-interest expenses or other relevant measures.
As a result of revenues and expenses from transactions with other operating segments or components being treated as transactions with external parties for purposes of segment disclosures, the Company includes intersegment eliminations within Corporate/Other to reconcile the business segment results to Citi’s consolidated results.
The accounting policies of these operating segments are the same as those disclosed in Note 1 to the Consolidated Financial Statements in Citi’s 2022 Form 10-K.
On September 13, 2023, Citi announced changes to its organizational structure, with the resulting operating segment impacts being implemented in the fourth quarter of 2023. The Company continues to execute requisite system and process changes that will enable the new segments to be operational in the fourth quarter of 2023. Citi expects to update its operating segment disclosures, including historical financial results, in the fourth quarter of 2023. These changes will not impact the previously reported consolidated financial results of the Company.
The following tables present certain information regarding the Company’s continuing operations by operating segment and Corporate/Other:

Three Months Ended September 30,
In millions of dollars, except identifiable assets, average loans and average deposits in billionsICGPBWMLegacy FranchisesCorporate/OtherTotal Citi
2023202220232022202320222023202220232022
Net interest income$5,494 $4,570 $6,356 $5,836 $1,279 $1,385 $699 $772 $13,828 $12,563 
Non-interest revenue5,150 4,898 422 351 938 1,169 (199)(473)6,311 5,945 
Total revenues, net of interest expense$10,644 $9,468 $6,778 $6,187 $2,217 $2,554 $500 $299 $20,139 $18,508 
Operating expense7,179 6,541 4,301 4,077 1,794 1,845 237 286 13,511 12,749 
Provisions (releases) for credit losses196 86 1,457 1,109 188 167 (1)3 1,840 1,365 
Income (loss) from continuing operations before taxes$3,269 $2,841 $1,020 $1,001 $235 $542 $264 $10 $4,788 $4,394 
Provision (benefits) for income taxes804 655 217 209 108 226 74 (211)1,203 879 
Income (loss) from continuing operations$2,465 $2,186 $803 $792 $127 $316 $190 $221 $3,585 $3,515 
Identifiable assets (September 30, 2023 and December 31, 2022)
$1,722 $1,730 $471 $494 $80 $97 $95 $96 $2,368 $2,417 
Average loans278 291 347 325 37 39 — — 662 655 
Average deposits821 817 421 428 52 50 21 21 1,315 1,316 
Nine Months Ended September 30,
In millions of dollars, except average loans and average deposits in billionsICGPBWMLegacy FranchisesCorporate/OtherTotal Citi
2023202220232022202320222023202220232022
Net interest income$16,145 $12,874 $18,253 $16,790 $3,914 $4,367 $2,764 $1,367 $41,076 $35,398 
Non-interest revenue16,173 19,173 1,368 1,331 3,078 2,053 (673)(623)19,946 21,934 
Total revenues, net of interest expense$32,318 $32,047 $19,621 $18,121 $6,992 $6,420 $2,091 $744 $61,022 $57,332 
Operating expense21,438 19,698 12,759 11,951 5,324 5,952 849 706 40,370 38,307 
Provisions for credit losses182 855 4,627 2,088 833 448 (3)3 5,639 3,394 
Income (loss) from continuing operations before taxes$10,698 $11,494 $2,235 $4,082 $835 $20 $1,245 $35 $15,013 $15,631 
Provision (benefits) for income taxes2,716 2,672 449 877 224 104 435 (651)3,824 3,002 
Income (loss) from continuing operations$7,982 $8,822 $1,786 $3,205 $611 $(84)$810 $686 $11,189 $12,629 
Average loans$280 $292 $340 $318 $37 $44 $— $— $657 $654 
Average deposits837 824 429 437 51 52 22 11 1,339 1,324