7.3 billion - Citigroup

14. GOODWILL AND INTANGIBLE ASSETSGoodwillThe changes in Goodwill during the first three months of 2012were as follows:In millions of dollarsBalance at December 31, 2011 $25,413Foreign exchange translation 397Balance at March 31, 2012 $25,810During the first three months of 2012, no goodwill waswritten off due to impairment. Goodwill is tested for impairmentannually at the reporting unit level and between annual tests ifan event occurs or circumstances change that would more likelythan not reduce the fair value of a reporting unit below itscarrying amount.As of January 1, 2012, the majority of the businessespreviously included within the LCL—Cards reporting unit weretransferred out of that reporting unit, primarily to NorthAmerica—RCB. Additionally, certain businesses withinBrokerage and Asset Management were transferred to LatinAmerica RCB. Goodwill affected by the reorganization has beenreassigned from LCL—Cards and Brokerage and AssetManagement to those reporting units that received businessesusing a relative fair value approach. Subsequent to January 1,2012, goodwill will be allocated to disposals and tested forimpairment under the new reporting units. An interim goodwillimpairment test was performed on the impacted reporting unitsas of January 1, 2012, resulting in no impairment. There wereno other triggering events present during the first quarter of2012 and therefore no additional interim goodwill impairmenttests were performed.The following table shows reporting units with goodwillbalances as of March 31, 2012.In millions of dollarsReporting unit (1)GoodwillNorth America Regional Consumer Banking $6,801EMEA Regional Consumer Banking 362Asia Regional Consumer Banking 5,530Latin America Regional Consumer Banking 1,999Securities and Banking 9,369Transaction Services 1,588Brokerage and Asset Management 42Local Consumer Lending—Cards 119(1) Local Consumer Lending—Other is excluded from the table as there is nogoodwill allocated to it.128CITIGROUP – 2012 FIRST QUARTER 10-Q