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GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2025
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 dollars | Services | Markets | Banking | USPB | Wealth | All Other |  |  | Total
Balance at December 31, 2024 | $ | 2,052 |  | $ | 5,674 |  | $ | 1,002 |  | $ | 5,219 |  | $ | 4,451 |  | $ | 902 |  |  |  | $ | 19,300 |
Foreign currency translation | 11 |  | 75 |  | 3 |  | 16 |  | — |  | 17 |  |  |  | 122 |
Balance at March 31, 2025 | $ | 2,063 |  | $ | 5,749 |  | $ | 1,005 |  | $ | 5,235 |  | $ | 4,451 |  | $ | 919 |  |  |  | $ | 19,422 |
Foreign currency translation | 109 |  | 171 |  | 20 |  | 71 |  | 2 |  | 83 |  |  |  | 456 |
Balance at June 30, 2025 | $ | 2,172 |  | $ | 5,920 |  | $ | 1,025 |  | $ | 5,306 |  | $ | 4,453 |  | $ | 1,002 |  |  |  | $ | 19,878 |
Foreign currency translation | (19) |  | (49) |  | 1 |  | 21 |  | — |  | 20 |  |  |  | (26) |
Impairment of goodwill(1) | — |  | — |  | — |  | — |  | — |  | (726) |  |  |  | (726) |
Balance at September 30, 2025 | $ | 2,153 |  | $ | 5,871 |  | $ | 1,026 |  | $ | 5,327 |  | $ | 4,453 |  | $ | 296 |  |  |  | $ | 19,126 |
(1)In connection with the agreed-upon bid received for Banamex, a goodwill impairment of $726 million ($714 million after-tax) was incurred in the Mexico Consumer/SBMM reporting unit of All Other—Legacy Franchises during the third quarter. Citi tests for goodwill impairment annually as of October 1 (the annual test) and conducts interim assessments between the annual tests 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. Citi performed an interim goodwill impairment test in the third quarter of 2025, in connection with the agreed-upon bid received for Banamex. The test resulted in an impairment of $726 million ($714 million after-tax) in the Mexico Consumer/SBMM reporting unit within All Other—Legacy Franchises, recorded in Other operating expenses. The fair value of that reporting unit was estimated using the agreed-upon bid from the buyer as a key assumption, which was considered a significant unobservable input (Level 3 fair value inputs). No other events or circumstances were identified as part of the qualitative assessment performed as of September 30, 2025. For additional information regarding Citi’s goodwill impairment testing process, see Notes 1 and 17 to the Consolidated Financial Statements in Citi’s 2024 Form 10-K. Unanticipated declines in business performance, increases in credit losses, increases in capital requirements and adverse regulatory or legislative changes, and deterioration in economic or market conditions, as well as circumstances related to Citi’s strategic refresh, are factors that could result in a material impairment loss to earnings in a future period related to some portion of the associated goodwill. Reporting units used for goodwill assessment at the Citigroup consolidated level may differ from the reporting units of its subsidiaries. Intangible Assets The components of intangible assets were as follows:
| September 30, 2025 | December 31, 2024
In millions of dollars | Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount
Purchased credit card relationships(1) | $ | 5,315 |  | $ | 4,606 |  | $ | 709 |  | $ | 5,315 |  | $ | 4,507 |  | $ | 808 |
Credit card contract-related intangibles(2) | 4,578 |  | 1,964 |  | 2,614 |  | 4,586 |  | 1,905 |  | 2,681 |
Other customer relationships | 334 |  | 299 |  | 35 |  | 325 |  | 278 |  | 47 |
Present value of future profits | 35 |  | 34 |  | 1 |  | 31 |  | 30 |  | 1 |
Indefinite-lived intangible assets | 223 |  | — |  | 223 |  | 197 |  | — |  | 197 |
Intangible assets (excluding MSRs) | $ | 10,485 |  | $ | 6,903 |  | $ | 3,582 |  | $ | 10,454 |  | $ | 6,720 |  | $ | 3,734 |
Mortgage servicing rights (MSRs)(3) | 748 |  | — |  | 748 |  | 760 |  | — |  | 760 |
Total intangible assets | $ | 11,233 |  | $ | 6,903 |  | $ | 4,330 |  | $ | 11,214 |  | $ | 6,720 |  | $ | 4,494 |
The changes in intangible assets were as follows:
In millions of dollars | Net carrying amount at December 31, 2024 | Acquisitions/renewals/ divestitures | Amortization | Impairments | FX translation and other | Net carrying amount at September 30, 2025
Purchased credit card relationships(1) | $ | 808 |  | $ | — |  | $ | (99) |  | $ | — |  | $ | — |  | $ | 709 |
Credit card contract-related intangibles(2) | 2,681 |  | — |  | (69) |  | — |  | 2 |  | 2,614 |
Other customer relationships | 47 |  | — |  | (15) |  | — |  | 3 |  | 35 |
Present value of future profits | 1 |  | — |  | — |  | — |  | — |  | 1 |
Indefinite-lived intangible assets | 197 |  | — |  | — |  | — |  | 26 |  | 223 |
Intangible assets (excluding MSRs) | $ | 3,734 |  | $ | — |  | $ | (183) |  | $ | — |  | $ | 31 |  | $ | 3,582 |
Mortgage servicing rights (MSRs)(3) | 760 |  |  |  |  |  | 748 |
Total intangible assets | $ | 4,494 |  |  |  |  |  | $ | 4,330 |
(1)Reflects intangibles for the value of purchased cardholder relationships, which are discrete from contract-related intangibles. (2)Reflects contract-related intangibles associated with Citi’s credit card program agreements with partners. (3)See Note 21.

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