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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI)
 9 Months Ended
Sep. 30, 2025
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI)
Changes in each component of Citigroup’s Accumulated other comprehensive income (loss) were as follows:

In millions of dollarsNet
unrealized
gains (losses)
on debt securities
Debt valuation adjustment (DVA)(1)
Cash flow hedges(2)
Benefit plans(3)
CTA, net of hedges(4)(5)
Excluded component of fair value hedges
Long-duration insurance contracts(6)
Accumulated
other
comprehensive income (loss)
Three Months Ended
September 30, 2025
Balance, June 30, 2025$(2,044)$(684)$(141)$(5,690)$(35,232)$(45)$50 $(43,786)
Other comprehensive income before reclassifications523 (1,044)(75)(20)138 11 (10)(477)
Increase (decrease) due to amounts reclassified from AOCI
(73)23 100 46 (3)— — 93 
Change, net of taxes
$450 $(1,021)$25 $26 $135 $11 $(10)$(384)
Balance at September 30, 2025$(1,594)$(1,705)$(116)$(5,664)$(35,097)$(34)$40 $(44,170)
Nine Months Ended
September 30, 2025
Balance, December 31, 2024$(2,837)$(1,121)$(220)$(5,627)$(38,047)$(52)$52 $(47,852)
Other comprehensive income before reclassifications1,502 (613)(267)(171)2,941 15 (12)3,395 
Increase (decrease) due to amounts reclassified from AOCI
(259)29 371 134 9 3 — 287 
Change, net of taxes$1,243 $(584)$104 $(37)$2,950 $18 $(12)$3,682 
Balance at September 30, 2025$(1,594)$(1,705)$(116)$(5,664)$(35,097)$(34)$40 $(44,170)

In millions of dollarsNet
unrealized
gains (losses)
on debt securities
Debt valuation adjustment (DVA)(1)
Cash flow hedges(2)
Benefit plans(3)
CTA, net
of hedges(4)(5)
Excluded component of fair value hedges
Long-duration insurance contracts(6)
Accumulated
other
comprehensive income (loss)
Three Months Ended
September 30, 2024
Balance at June 30, 2024$(3,682)$(1,016)$(629)$(5,794)$(35,573)$(39)$56 $(46,677)
Other comprehensive income before reclassifications1,381 (155)(305)1 416 (8)(17)1,313 
Increase (decrease) due to amounts reclassified from AOCI
(46)5 161 48 — (1)— 167 
Change, net of taxes
$1,335 $(150)$(144)$49 $416 $(9)$(17)$1,480 
Balance at September 30, 2024$(2,347)$(1,166)$(773)$(5,745)$(35,157)$(48)$39 $(45,197)
Nine Months Ended
September 30, 2024
Balance, December 31, 2023$(3,744)$(709)$(1,406)$(6,050)$(32,885)$(40)$34 $(44,800)
Other comprehensive income before reclassifications1,533 (474)14 164 (2,272)4 6 (1,025)
Increase (decrease) due to amounts reclassified from AOCI
(136)17 619 141 — (12)(1)628 
Change, net of taxes$1,397 $(457)$633 $305 $(2,272)$(8)$5 $(397)
Balance at September 30, 2024$(2,347)$(1,166)$(773)$(5,745)$(35,157)$(48)$39 $(45,197)

(1)Reflects the after-tax valuation of Citi’s fair value option liabilities. See “Market Valuation Adjustments” in Note 23.
(2)Primarily driven by Citi’s pay floating/receive fixed interest rate swap programs that hedge certain floating rates on assets.
(3)Primarily reflects adjustments based on actuarial valuations of the Company’s significant pension and postretirement plans, actuarial valuations of all other plans and amortization of amounts previously recognized in other comprehensive income. Citigroup remeasures its significant pension and postretirement benefits plans’ obligations and assets by updating plan actuarial assumptions quarterly, when certain conditions are met to trigger interim remeasurement. No interim remeasurement occurred for the third quarter of 2025.
(4)Primarily reflects the movements in (by order of impact) the Mexican peso, euro and Brazilian real against the U.S. dollar and changes in related tax effects and hedges for the three months ended September 30, 2025. Primarily reflects the movements in (by order of impact) the euro, Mexican peso, Polish zloty, Brazilian real, South Korean won, Singapore dollar and Japanese yen against the U.S. dollar and changes in related tax effects and hedges for the nine months ended
September 30, 2025. Primarily reflects the movement in (by order of impact) the Mexican peso, euro, Japanese yen, Singapore dollar, Malaysian ringgit, Polish zloty and Chilean peso against the U.S. dollar and changes in related tax effects and hedges for the three months ended September 30, 2024. Primarily reflects the movement in (by order of impact) the Mexican peso, Egyptian pound, Brazilian real, Malaysian ringgit and Taiwan dollar against the U.S. dollar and changes in related tax effects and hedges for the nine months ended September 30, 2024. Amounts recorded in the CTA component of AOCI remain in AOCI until the sale or substantial liquidation of the foreign entity, at which point such amounts related to the foreign entity are reclassified into earnings.
(5)Citi’s AOCI includes CTA losses, net of hedges and taxes, amounting to approximately $(9) billion, attributable to Banamex and its consolidated subsidiaries as of September 30, 2025.
(6)Reflects the change in the liability for future policyholder benefits for certain long-duration life-contingent annuity contracts that are issued by a regulated Banamex insurance subsidiary within Mexico Consumer/SBMM and reported within Legacy Franchises. The amount reflects the change in the liability after discounting using an upper-medium-grade fixed income instrument yield that reflects the duration characteristics of the liability. The balance of the liability for future policyholder benefits, which is recorded within Other liabilities, for this insurance subsidiary was approximately $491 million and $463 million at September 30, 2025 and 2024, respectively.
The pretax and after-tax changes in each component of Accumulated other comprehensive income (loss) were as follows:
In millions of dollarsPretax
Tax effect(1)
After-tax
Three Months Ended September 30, 2025
Balance, June 30, 2025$(49,927)$6,141 $(43,786)
Change in net unrealized gains (losses) on debt securities613 (163)450 
Debt valuation adjustment (DVA)(1,293)272 (1,021)
Cash flow hedges44 (19)25 
Benefit plans20 6 26 
Foreign currency translation adjustment (CTA)67 68 135 
Excluded component of fair value hedges14 (3)11 
Long-duration insurance contracts(16)6 (10)
Change$(551)$167 $(384)
Balance at September 30, 2025$(50,478)$6,308 $(44,170)
Nine Months Ended September 30, 2025
Balance, December 31, 2024$(54,439)$6,587 $(47,852)
Change in net unrealized gains (losses) on debt securities1,720 (477)1,243 
DVA(684)100 (584)
Cash flow hedges140 (36)104 
Benefit plans(55)18 (37)
CTA2,834 116 2,950 
Excluded component of fair value hedges22 (4)18 
Long-duration insurance contracts(16)4 (12)
Change$3,961 $(279)$3,682 
Balance at September 30, 2025$(50,478)$6,308 $(44,170)

In millions of dollarsPretax
Tax effect(1)
After-tax
Three Months Ended September 30, 2024
Balance at June 30, 2024$(54,102)$7,425 $(46,677)
Change in net unrealized gains (losses) on debt securities1,781 (446)1,335 
DVA(201)51 (150)
Cash flow hedges(171)27 (144)
Benefit plans88 (39)49 
CTA638 (222)416 
Excluded component of fair value hedges(10)1 (9)
Long-duration insurance contracts(26)9 (17)
Change$2,099 $(619)$1,480 
Balance, September 30, 2024$(52,003)$6,806 $(45,197)
Nine Months Ended September 30, 2024
Balance, December 31, 2023$(52,422)$7,622 $(44,800)
Change in net unrealized gains (losses) on debt securities1,853 (456)1,397 
DVA(608)151 (457)
Cash flow hedges843 (210)633 
Benefit plans405 (100)305 
CTA(2,071)(201)(2,272)
Excluded component of fair value hedges(12)4 (8)
Long-duration insurance contracts9 (4)5 
Change$419 $(816)$(397)
Balance, September 30, 2024$(52,003)$6,806 $(45,197)

(1)    Income tax effects of these items are released from AOCI contemporaneously with the related gross pretax amount.
The Company recognized pretax (gains) losses related to amounts in AOCI reclassified to the Consolidated Statement of Income as follows:

Increase (decrease) in AOCI due to amounts reclassified to
Consolidated Statement of Income
Three Months Ended September 30,Nine Months Ended September 30,
In millions of dollars2025202420252024
Realized (gains) losses on sales of investments$(105)$(72)$(364)$(210)
Gross impairment losses9 13 14 36 
Subtotal, pretax$(96)$(59)$(350)$(174)
Tax effect23 13 91 38 
Net realized (gains) losses on investments, after-tax(1)
$(73)$(46)$(259)$(136)
Realized DVA (gains) losses on fair value option liabilities, pretax$42 $7 $49 $23 
Tax effect(19)(2)(20)(6)
Net realized DVA, after-tax$23 $5 $29 $17 
Interest rate contracts$125 $212 $482 $814 
Foreign exchange contracts6 1 6 3 
Subtotal, pretax$131 $213 $488 $817 
Tax effect(31)(52)(117)(198)
Amortization of cash flow hedges, after-tax(2)
$100 $161 $371 $619 
Amortization of unrecognized:
Prior service cost (benefit)$(4)$(4)$(13)$(14)
Net actuarial loss66 62 196 196 
Curtailment/settlement impact(3)
— 4 — 6 
Subtotal, pretax$62 $62 $183 $188 
Tax effect(16)(14)(49)(47)
Amortization of benefit plans, after-tax(3)
$46 $48 $134 $141 
Excluded component of fair value hedges, pretax$— $(2)$3 $(16)
Tax effect— 1 — 4 
Excluded component of fair value hedges, after-tax$— $(1)$3 $(12)
Long-duration contracts, pretax$— $— $— $(1)
Tax effect— — — — 
Long-duration contracts, after-tax$— $— $— $(1)
CTA, pretax$(3)$— $9 $— 
Tax effect— — — — 
CTA, after-tax(4)
$(3)$— $9 $— 
Total amounts reclassified out of AOCI, pretax
$136 $221 $382 $837 
Total tax effect(43)(54)(95)(209)
Total amounts reclassified out of AOCI, after-tax
$93 $167 $287 $628 

(1)The pretax amount is reclassified to Realized gains (losses) on sales of investments, net and Gross impairment losses in the Consolidated Statement of Income. See Note 13.
(2)See Note 22.
(3)See Note 8.
(4)The pretax amount is reclassified to Other revenue in the Consolidated Statement of Income.