LEASES (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024		December 31, 2023
ROU asset	$	2,836	$	2,801
Lease liability	3,013		2,974

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, 2024		Dec. 31, 2023		Dec. 31, 2022
Operating lease expense	$	842	$	842	$	852
Variable lease expense	204		208		199
Total lease costs(1)	$	1,046	$	1,050	$	1,051

(1)     Balances do not include $9 million, $3 million and $3 million of sublease income for the years ended December 31, 2024, 2023 and 2022, respectively.

Schedule of cash flow supplemental information

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

In millions of dollars	December 31, 2024		December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities	$	729	$	714
ROU assets obtained in exchange for new operating lease liabilities(1)	777		456

(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
2025	$	709
2026	636
2027	514
2028	418
2029	317
Thereafter	865
Total future lease payments	$	3,459
Less imputed interest (based on weighted-average discount rate of 4.1%)	$	(446)
Lease liability	$	3,013