COMMISSIONS AND FEES; ADMINISTRATION AND OTHER FIDUCIARY FEES (Tables)

12 Months Ended

Dec. 31, 2023

Other Income and Expenses [Abstract]

Commissions and fees revenues

The following table presents Commissions and fees revenue:

In millions of dollars	2023		2022		2021
Investment banking(1)	$	2,676	$	3,084	$	6,007
Brokerage commissions(2)	2,316		2,546		3,236
Credit and bank card income
Interchange fees	11,996		11,505		9,821
Card-related loan fees	475		589		695
Card rewards and partner payments(3)	(12,513)		(12,336)		(10,235)
Deposit-related fees(4)	1,254		1,274		1,331
Transactional service fees	1,323		1,169		1,098
Corporate finance(5)	439		458		709
Insurance distribution revenue	321		346		473
Insurance premiums	97		91		94
Loan servicing	100		103		98
Other	421		346		345
Total(6)	$	8,905	$	9,175	$	13,672

(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:

In millions of dollars	2023		2022		2021
Custody fees	$	1,871	$	1,877	$	1,898
Fiduciary fees	1,376		1,350		1,464
Guarantee fees	534		557		581
Total administration and other fiduciary fees(1)	$	3,781	$	3,784	$	3,943

(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.