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RETIREMENT BENEFITS | 9 Months Ended
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Sep. 30, 2025
Retirement Benefits [Abstract] |
RETIREMENT BENEFITS | RETIREMENT BENEFITS For additional information on Citi’s retirement benefits, see Note 8 to the Consolidated Financial Statements in Citi’s 2024 Form 10-K. Citigroup remeasures its significant pension and postretirement benefits plans’ obligations and assets by updating plan actuarial assumptions when certain conditions are met to trigger interim remeasurement. No interim remeasurement occurred for the first, second and third quarters of 2025. Net Expense (Benefit) The following table summarizes the components of net expense (benefit) recognized in the Consolidated Statement of Income for the Company’s pension and postretirement benefit plans for Significant Plans and All Other Plans. Service cost is reported in Compensation and benefits expenses and all other components of the net periodic benefit cost are reported in Other operating expenses in the Consolidated Statement of Income.
| Three Months Ended September 30, |  |  |
| Pension plans | Postretirement benefit plans |  |  |
| U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans |  |  |
In millions of dollars | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |  |  |
Service cost | $ | — |  | $ | — |  | $ | 28 |  | $ | 28 |  | $ | — |  | $ | — |  | $ | 1 |  | $ | — |  |  |  |
Interest cost on benefit obligation | 119 |  | 119 |  | 108 |  | 105 |  | 4 |  | 4 |  | 30 |  | 25 |  |  |  |
Expected return on assets | (150) |  | (150) |  | (96) |  | (80) |  | (3) |  | (3) |  | (19) |  | (19) |  |  |  |
Amortization of unrecognized: |  |  |  |  |  |  |  |  |  |  |
Prior service cost (benefit) | — |  | — |  | (1) |  | (1) |  | (2) |  | (2) |  | (2) |  | (1) |  |  |  |
Net actuarial loss (gain) | 49 |  | 43 |  | 17 |  | 18 |  | (3) |  | (2) |  | 3 |  | 3 |  |  |  |
Settlement loss(1) | — |  | — |  | — |  | 4 |  | — |  | — |  | — |  | — |  |  |  |
Total net expense (benefit) | $ | 18 |  | $ | 12 |  | $ | 56 |  | $ | 74 |  | $ | (4) |  | $ | (3) |  | $ | 13 |  | $ | 8 |  |  |  |
| Nine Months Ended September 30, |  |  |
| Pension plans | Postretirement benefit plans |  |  |
| U.S. plans | Non-U.S. plans | U.S. plans | Non-U.S. plans |  |  |
In millions of dollars | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |  |  |
Service cost | $ | — |  | $ | — |  | $ | 82 |  | $ | 87 |  | $ | — |  | $ | — |  | $ | 1 |  | $ | 1 |  |  |  |
Interest cost on benefit obligation | 356 |  | 355 |  | 314 |  | 323 |  | 11 |  | 12 |  | 87 |  | 82 |  |  |  |
Expected return on assets | (451) |  | (453) |  | (278) |  | (249) |  | (8) |  | (8) |  | (54) |  | (61) |  |  |  |
Amortization of unrecognized: |  |  |  |  |  |  |  |  |  |  |
Prior service cost (benefit) | 1 |  | 1 |  | (3) |  | (3) |  | (7) |  | (7) |  | (5) |  | (5) |  |  |  |
Net actuarial loss (gain) | 147 |  | 134 |  | 49 |  | 61 |  | (9) |  | (7) |  | 8 |  | 8 |  |  |  |
Settlement loss(1) | — |  | — |  | — |  | 6 |  | — |  | — |  | — |  | — |  |  |  |
Total net expense (benefit) | $ | 53 |  | $ | 37 |  | $ | 164 |  | $ | 225 |  | $ | (13) |  | $ | (10) |  | $ | 37 |  | $ | 25 |  |  |  |
(1)Settlement loss relates to divestiture activities. Contributions The following table summarizes the Company’s expected contributions for 2025 and the actual contributions made in 2024:
| Pension plans | Postretirement benefit plans
| U.S. plans(1) |  | Non-U.S. plans(2) |  | U.S. plans |  | Non-U.S. plans |
In millions of dollars | 2025 | 2024 |  | 2025 | 2024 |  | 2025 | 2024 |  | 2025 | 2024 |
Company contributions(3) expected to be made during the year, and made during the prior year | $ | 63 |  | $ | 59 |  |  | $ | 93 |  | $ | 763 |  |  | $ | 5 |  | $ | 8 |  |  | $ | 11 |  | $ | 9 |  |
(1)The U.S. plans include benefits paid directly by the Company for the nonqualified pension plans. (2)The Company made a discretionary contribution of approximately $600 million to a pension plan in Mexico Consumer/SBMM during the fourth quarter of 2024. (3)Company contributions are composed of cash contributions made to the plans and benefits paid directly by the Company.

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