BUSINESS SEGMENTS

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

BUSINESS SEGMENTS

BUSINESS SEGMENTS

Citigroup’s activities are conducted through the following business segments: Global Consumer Banking (GCB) and Institutional Clients Group (ICG). In addition, Corporate/Other includes activities not assigned to a specific business segment, as well as certain North America legacy loan portfolios, discontinued operations and other legacy assets.

Beginning in the first quarter of 2021, Citi changed its allocation for certain recurring expenses that are attributable to the business segments from Corporate/Other to GCB and ICG. These expenses include incremental investments related to risk and controls, technology capabilities and information security initiatives, as well as some incremental spend related to pandemic remediation. This change had no impact to earnings before interest and taxes at the Citi level, and given that these expenses were immaterial, the change is not reflected retrospectively. Citi’s consolidated results remained unchanged for all periods presented.

For additional information regarding Citigroup’s business segments, see Note 3 to the Consolidated Financial Statements in Citi’s 2020 Annual Report on Form 10-K.

The following table presents certain information regarding the Company’s continuing operations by segment:

	Three Months Ended March 31,
	Revenues, net of interest expense(1)				Provision (benefits) for income taxes				Income (loss) from continuing operations(2)				Identifiable assets
In millions of dollars, except identifiable assets in billions	2021		2020		2021		2020		2021		2020		March 31, 2021		December 31, 2020
Global Consumer Banking	$	7,037	$	8,174	$	658	$	(266)	$	2,174	$	(741)	$	439	$	434
Institutional Clients Group	12,220		12,484		1,736		1,044		5,972		3,626		1,776		1,730
Corporate/Other	70		73		(62)		(198)		(169)		(337)		99		96
Total	$	19,327	$	20,731	$	2,332	$	580	$	7,977	$	2,548	$	2,314	$	2,260

(1)     Includes total revenues, net of interest expense (excluding Corporate/Other), in North America of $9.3 billion and $10.2 billion; in EMEA of $3.7 billion and $3.5 billion; in Latin America of $2.1 billion and $2.6 billion; and in Asia of $4.1 billion and $4.4 billion for the three months ended March 31, 2021 and 2020, respectively. These regional numbers exclude Corporate/Other, which largely operates within the U.S.

(2)     Includes pretax provisions for credit losses and for benefits and claims in the GCB results of $(0.2) billion and $4.8 billion; in the ICG results of $(1.8) billion and $2.0 billion; and in the Corporate/Other results of $(0.1) billion and $0.2 billion for the three months ended March 31, 2021 and 2020, respectively.