COMMISSIONS AND FEES; ADMINISTRATION AND OTHER FIDUCIARY FEES (Tables) |
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Commissions and fees revenues | The following table presents Commissions and fees revenue:
(1) For the periods presented, the contract liability amount was negligible. (2) The Company recognized $448 million, $538 million and $639 million of revenue related to variable consideration for the years ended December 31, 2023, 2022 and 2021, respectively. These amounts primarily relate to performance obligations satisfied in prior periods. (3) As described above, Citi’s credit card programs have certain partner sharing agreements that vary by partner. (4) Overdraft fees are accounted for under ASC 310. Citi eliminated overdraft fees, returned item fees and overdraft protection fees beginning in June 2022. Includes overdraft fees of $0 million, $59 million (prior to the elimination of overdraft fees in June 2022) and $107 million for the years ended December 31, 2023, 2022 and 2021, respectively. (5) Consists primarily of fees earned from structuring and underwriting loan syndications or related financing activity. This activity is accounted for under ASC 310. (6) Commissions and fees include $(11,367) million, $(11,008) million and $(8,516) million not accounted for under ASC 606, Revenue from Contracts with Customers, for the years ended December 31, 2023, 2022 and 2021, respectively. Amounts reported in Commissions and fees accounted for under other guidance primarily include card-related loan fees, card reward programs and certain partner payments, corporate finance fees, insurance premiums and loan servicing fees. The following table presents Administration and other fiduciary fees revenue:
(1) Administration and other fiduciary fees include $534 million, $557 million and $581 million for the years ended December 31, 2023, 2022 and 2021, respectively, that are not accounted for under ASC 606, Revenue from Contracts with Customers. These generally include guarantee fees.
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