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OPERATING SEGMENTS
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
OPERATING SEGMENTS OPERATING SEGMENTS
The operating segments and reporting units reflect how the CEO, who is the chief operating decision maker (CODM), manages the Company, including allocating resources and measuring performance.
Citi is organized into five reportable operating segments: Services, Markets, Banking, U.S. Personal Banking (USPB) and Wealth, with the remaining operations recorded in All Other, which includes activities not assigned to a specific reportable operating segment, as well as discontinued operations. See operating segment details in Note 3 to the Consolidated Financial Statements in Citi’s 2023 Form 10-K.
Beginning in the first quarter of 2024, Citi reallocated certain customer balances between All Other—Legacy Franchises, Services, Markets and Banking in preparation for the IPO of the Mexico Consumer/SBMM operations, and made other immaterial reclassifications. These reallocations and reclassifications did not materially change segment results and prior periods were conformed to reflect these changes. Citi's consolidated results remain unchanged for all periods presented.
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 attributable to a particular business segment or component are generally allocated from All Other based on respective net revenues, non-interest expenses or other relevant measures.
Revenues and expenses from transactions with other operating segments or components are treated as transactions with external parties for purposes of segment disclosures, while funding charges paid by operating segments and funding credits received by Corporate Treasury within All Other are included in net interest income. The Company includes intersegment eliminations within All Other to reconcile the operating segment results to Citi’s consolidated results.
The accounting policies of these reportable operating segments are the same as those disclosed in Note 1 to the Consolidated Financial Statements in Citi’s 2023 Form 10-K.

The following tables present certain information regarding the Company’s continuing operations by reportable operating segments and All Other on a managed basis that excludes divestiture-related impacts. Performance measurement is based on Income (loss) from continuing operations. These results are used by the CODM, both in evaluating the performance of, and in allocating resources to, each of the segments:

Three Months Ended March 31,
In millions of dollars, except identifiable assets, average loans
and average deposits in billions		ServicesMarketsBankingUSPB
20242023202420232024202320242023
Net interest income$3,317 $3,126 $1,713 $1,562 $574 $500 $5,226 $4,854 
Non-interest revenue1,449 1,268 3,665 4,228 1,140 651 (48)(143)
Total revenues, net of interest expense$4,766 $4,394 $5,378 $5,790 $1,714 $1,151 $5,178 $4,711 
Provisions for credit losses and for benefits and claims$64 $(14)$200 $83 $(129)$(123)$2,204 $1,649 
Provision (benefits) for income taxes517 690 388 676 120 (19)108 131 
Income (loss) from continuing operations1,519 1,309 1,410 1,869 539 57 347 402 
Identifiable assets (March 31, 2024 and December 31, 2023)
$577 $586 $1,037 $1,007 $152 $149 $237 $242 
Average loans82 79 120 111 89 95 204 184 
Average deposits808 830 24 23 1 1 100 111 
Wealth
All Other(1)
Reconciling Items(1)
Total Citi
20242023202420232024202320242023
Net interest income$979 $1,121 $1,698 $2,185 $— $— $13,507 $13,348 
Non-interest revenue716 645 687 432 (12)1,018 7,597 8,099 
Total revenues, net of interest expense$1,695 $1,766 $2,385 $2,617 $(12)$1,018 $21,104 $21,447 
Provisions for credit losses and for benefits and claims$(170)$(58)$185 $446 $11 $(8)$2,365 $1,975 
Provision (benefits) for income taxes47 39 (5)(291)(39)305 1,136 1,531 
Income (loss) from continuing operations150 159 (463)208 (94)648 3,408 4,652 
Identifiable assets (March 31, 2024 and December 31, 2023)
$230 $232 $200 $196 $2,433 $2,412 
Average loans150 150 34 35 679 654 
Average deposits319 323 74 75 1,326 1,363 

(1)    Segment results are presented on a managed basis that excludes divestiture-related impacts related to (i) Citi’s divestitures of its Asia consumer banking businesses and (ii) the planned IPO of Mexico consumer banking and small business and middle-market banking within All Other—Legacy Franchises. Adjustments are included in Legacy Franchises within All Other and are reflected in the reconciliations above to arrive at Citi’s reported results in the Consolidated Statement of Income.
The following table presents a reconciliation of total Citigroup income from continuing operations as reported:

Three Months Ended March 31,
In millions of dollars
2024(1)
2023(2)
Total segments and All Other—income from continuing operations(3)
$3,502 $4,004 
Divestiture-related impact on:
Total revenues, net of interest expense(12)1,018 
Total operating expenses110 73 
Provision (release) for credit losses11 (8)
Provision (benefits) for income taxes(39)305 
Income from continuing operations$3,408 $4,652 

(1)    The three months ended March 31, 2024 includes approximately $110 million in operating expenses (approximately $77 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. 
(2)    The three months ended March 31, 2023 includes an approximate $1.059 billion gain on sale recorded in revenue (approximately $727 million after various taxes) related to Citi’s sale of the India consumer banking business. For additional information, see Citi’s Quarterly Report on Form 10-Q for the period ended March 31, 2023.
(3)    Segment results are presented on a managed basis that excludes divestiture-related impacts related to (i) Citi’s divestitures of its Asia consumer banking businesses and (ii) the planned IPO of Mexico consumer banking and small business and middle-market banking within All Other—Legacy Franchises. Adjustments are included in Legacy Franchises within All Other and are reflected in the reconciliations above to arrive at Citi’s reported results in the Consolidated Statement of Income.