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GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Goodwill
The changes in Goodwill were as follows:

In millions of dollarsServices
Markets(1)
Banking(1)
USPBWealthAll OtherTotal
Balance at December 31, 2023$2,214 $5,870 $1,039 $5,398 $4,469 $1,108 $20,098 
Foreign currency translation(27)(82)2 23 — 28 (56)
Balance at March 31, 2024$2,187 $5,788 $1,041 $5,421 $4,469 $1,136 $20,042 
Foreign currency translation(57)(62)(18)(92)(1)(108)(338)
Balance at June 30, 2024$2,130 $5,726 $1,023 $5,329 $4,468 $1,028 $19,704 
Foreign currency translation13 136 (10)(63)— (73)3 
Divestitures(2)
— — — — (16)— (16)
Balance at September 30, 2024$2,143 $5,862 $1,013 $5,266 $4,452 $955 $19,691 

(1)    In 2023, goodwill of approximately $537 million was transferred from Banking to Markets related to business realignment. Prior-period amounts have been
revised to conform with the current presentation. See Note 3 to the Consolidated Financial Statements in Citi’s 2023 Form 10-K.
(2)    Goodwill allocated to the global fiduciary and trust administration services business was classified as HFS during the third quarter of 2024.


Citi tests for goodwill impairment annually as of October 1 (the annual test) and conducts interim assessments between the annual test if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. No such events or circumstances were identified as part of the qualitative assessment performed as of September 30, 2024. For additional information regarding Citi’s goodwill impairment testing process, see Notes 1 and 17 to the Consolidated Financial Statements in Citi’s 2023 Form 10-K.
While the inherent risk of uncertainty is embedded in the key assumptions used in the reporting unit valuations, the economic and business environments continue to evolve as management executes on its transformation and strategy. If management’s future estimates of key economic and market assumptions were to differ from its current assumptions, Citi could potentially experience material goodwill impairment charges in the future.

Intangible Assets
The components of intangible assets were as follows:

 September 30, 2024December 31, 2023
In millions of dollarsGross
carrying
amount		Accumulated
amortization		Net
carrying
amount		Gross
carrying
amount		Accumulated
amortization		Net
carrying
amount
Purchased credit card relationships(1)
$5,315 $4,472 $843 $5,302 $4,365 $937 
Credit card contract-related intangibles(2)
4,189 1,861 2,328 4,177 1,698 2,479 
Other customer relationships363 306 57 363 290 73 
Present value of future profits32 31 1 37 36 1 
Indefinite-lived intangible assets209 — 209 240 — 240 
Intangible assets (excluding MSRs)$10,108 $6,670 $3,438 $10,119 $6,389 $3,730 
Mortgage servicing rights (MSRs)(3)
683 — 683 691 — 691 
Total intangible assets$10,791 $6,670 $4,121 $10,810 $6,389 $4,421 
The changes in intangible assets were as follows:

In millions of dollars
Net carrying amount at December 31, 2023
Acquisitions/renewals/
divestitures(1)
AmortizationImpairmentsFX translation and other
Net carrying amount at September 30, 2024
Purchased credit card relationships(2)
$937 $13 $(107)$— $— $843 
Credit card contract-related intangibles(3)
2,479 12 (164)— 1 2,328 
Other customer relationships73 — (16)— — 57 
Present value of future profits1 — — — — 1 
Indefinite-lived intangible assets240 — — — (31)209 
Intangible assets (excluding MSRs)$3,730 $25 $(287)$— $(30)$3,438 
Mortgage servicing rights (MSRs)(4)
691 683 
Total intangible assets$4,421 $4,121 

(1)The acquired intangibles during the period relate to a new card partnership with a 10-year term.
(2)Reflects intangibles for the value of purchased cardholder relationships, which are discrete from contract-related intangibles.
(3)Reflects contract-related intangibles associated with Citi’s credit card program agreements with partners.
(4)See Note 21.