LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

ROU asset and lease liabilities

The following table presents information on the right-of-use (ROU) asset and lease liabilities included in Premises and equipment and Other liabilities, respectively:

In millions of dollars	December 31, 2023		December 31, 2022
ROU asset	$	2,801	$	2,892
Lease liability	2,974		3,076

Operating lease expense

The following table presents the total operating lease expense (principally for offices, branches and equipment) included in the Consolidated Statement of Income:

In millions of dollars	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Operating lease expense	$	842	$	852	$	872
Variable lease expense	208		199		201
Total lease costs(1)	$	1,050	$	1,051	$	1,073

(1)     Balances do not include $3 million, $3 million and $12 million of sublease income for the years ended December 31, 2023, 2022 and 2021, respectively.

Schedule of cash flow supplemental information

The table below provides the supplemental Statement of Cash Flows information:

In millions of dollars	December 31, 2023		December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities	$	714	$	725
ROU assets obtained in exchange for new operating lease liabilities(1)	456		775

(1)     Represents non-cash activity and, accordingly, is not reflected in the Consolidated Statement of Cash Flows.

Schedule of future minimum rental payments for operating leases after adoption

Citi’s future lease payments are as follows:

In millions of dollars
2024	$	728
2025	647
2026	539
2027	406
2028	307
Thereafter	710
Total future lease payments	$	3,337
Less imputed interest (based on weighted-average discount rate of 3.7%)	$	(363)
Lease liability	$	2,974