| CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) |
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) Changes in each component of Citigroup’s Accumulated other comprehensive income (loss) were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | In millions of dollars | Net
unrealized
gains (losses)
on debt securities | Debt valuation adjustment (DVA)(1) | Cash flow hedges(2) | Benefit plans(3) | CTA, net of hedges(4)(5) | Excluded component of fair value hedges | Long-duration insurance contracts(6) | Accumulated
other
comprehensive income (loss) | Three Months Ended
March 31, 2026 | | | | | | | | | | Balance at December 31, 2025 | $ | (1,240) | | $ | (2,143) | | $ | 10 | | $ | (5,504) | | $ | (33,016) | | $ | (34) | | $ | 30 | | $ | (41,897) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive income before reclassifications | (699) | | 1,401 | | (275) | | (12) | | 893 | | 14 | | 5 | | 1,327 | | Increase (decrease) due to amounts reclassified from AOCI | (120) | | 4 | | 26 | | 50 | | (4) | | (1) | | — | | (45) | | Change, net of taxes | $ | (819) | | $ | 1,405 | | $ | (249) | | $ | 38 | | $ | 889 | | $ | 13 | | $ | 5 | | $ | 1,282 | | | Balance at March 31, 2026 | $ | (2,059) | | $ | (738) | | $ | (239) | | $ | (5,466) | | $ | (32,127) | | $ | (21) | | $ | 35 | | $ | (40,615) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Change in Noncontrolling interests’ AOCI, not included above: | | | | | | | | | Three Months Ended
March 31, 2026 | $ | (49) | | $ | — | | $ | 1 | | $ | (6) | | $ | (19) | | $ | — | | $ | — | | $ | (73) | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | In millions of dollars | Net
unrealized
gains (losses)
on debt securities | Debt valuation adjustment (DVA)(1) | Cash flow hedges(2) | Benefit plans(3) | CTA, net of hedges(4) | Excluded component of fair value hedges | Long-duration insurance contracts(6) | Accumulated
other
comprehensive income (loss) | Three Months Ended
March 31, 2025 | | | | | | | | | | Balance at December 31, 2024 | $ | (2,837) | | $ | (1,121) | | $ | (220) | | $ | (5,627) | | $ | (38,047) | | $ | (52) | | $ | 52 | | $ | (47,852) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive income before reclassifications | 601 | | 775 | | (136) | | (71) | | 837 | | 6 | | (1) | | 2,011 | | Increase (decrease) due to amounts reclassified from AOCI | (86) | | 4 | | 143 | | 45 | | 12 | | 1 | | — | | 119 | | Change, net of taxes | $ | 515 | | $ | 779 | | $ | 7 | | $ | (26) | | $ | 849 | | $ | 7 | | $ | (1) | | $ | 2,130 | | | Balance at March 31, 2025 | $ | (2,322) | | $ | (342) | | $ | (213) | | $ | (5,653) | | $ | (37,198) | | $ | (45) | | $ | 51 | | $ | (45,722) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Change in Noncontrolling interests’ AOCI, not included above: | | | | | | | | | Three Months Ended
March 31, 2025 | $ | 3 | | $ | — | | $ | — | | $ | — | | $ | 46 | | $ | — | | $ | — | | $ | 49 | | | | | | | | | | |
(1)Reflects the after-tax valuation of Citi’s fair value option liabilities. See “Market Valuation Adjustments” in Note 21. (2)Primarily driven by Citi’s pay floating/receive fixed interest rate swap programs that hedge certain floating rates on assets. (3)Primarily reflects adjustments based on actuarial valuations of the Company’s pension and postretirement plans and amortization of amounts previously recognized in other comprehensive income. Citigroup remeasures its significant pension and postretirement benefits plans’ obligations and assets by updating plan actuarial assumptions quarterly, when certain conditions are met to trigger interim remeasurement. No interim remeasurement occurred for the first quarter of 2026 or 2025. (4)Primarily reflects the movements in (by order of impact) the euro, Indian rupee, South Korean won, Polish zloty and Mexican peso against the U.S. dollar and changes in related tax effects and hedges for the three months ended March 31, 2026. Primarily reflects the movement in (by order of impact) the euro, Polish zloty, Japanese yen, Brazilian real, Chilean peso, British pound sterling and Singapore dollar against the U.S. dollar and changes in related tax effects and hedges for the three months ended March 31, 2025. Amounts recorded in the CTA component of AOCI remain in AOCI until the sale or substantial liquidation of the foreign entity, at which point such amounts related to the foreign entity are reclassified into earnings. (5)March 31, 2026 reflects the reduction of a $1.6 billion CTA loss (net of hedges) associated with Citi’s sale of AO Citibank. For additional information see Note 2 to the Consolidated Financial Statements in Citi’s 2025 Form 10-K. (6)Reflects the change in the liability for future policyholder benefits for certain long-duration life-contingent annuity contracts that are issued by a regulated Banamex insurance subsidiary within Mexico Consumer/SBMM and reported within Legacy Franchises. The amount reflects the change in the liability after discounting using an upper-medium-grade fixed income instrument yield that reflects the duration characteristics of the liability. The balance of the liability for future policyholder benefits, which is recorded within Other liabilities, for this insurance subsidiary was approximately $489 million and $425 million at March 31, 2026 and 2025, respectively. The pretax and after-tax changes in each component of Accumulated other comprehensive income (loss) were as follows:
| | | | | | | | | | | | | In millions of dollars | Pretax | Tax effect(1) | After-tax | | Three Months Ended March 31, 2026 | | | | | Balance at December 31, 2025 | $ | (48,156) | | $ | 6,259 | | $ | (41,897) | | | | | | | | | | | Net unrealized gains (losses) on debt securities | (1,150) | | 331 | | (819) | | | Debt valuation adjustment (DVA) | 1,832 | | (427) | | 1,405 | | | Cash flow hedges | (330) | | 81 | | (249) | | | Benefit plans | 96 | | (58) | | 38 | | | Foreign currency translation adjustment (CTA) | 907 | | (18) | | 889 | | | Excluded component of fair value hedges | 19 | | (6) | | 13 | | | Long-duration insurance contracts | 8 | | (3) | | 5 | | | Change | $ | 1,382 | | $ | (100) | | $ | 1,282 | | | Balance at March 31, 2026 | $ | (46,774) | | $ | 6,159 | | $ | (40,615) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | In millions of dollars | Pretax | Tax effect(1) | After-tax | | Three Months Ended March 31, 2025 | | | | | Balance at December 31, 2024 | $ | (54,439) | | $ | 6,587 | | $ | (47,852) | | | | | | | | | | | Change in net unrealized gains (losses) on debt securities | 744 | | (229) | | 515 | | | DVA | 1,000 | | (221) | | 779 | | | Cash flow hedges | 8 | | (1) | | 7 | | | Benefit plans | (18) | | (8) | | (26) | | | CTA | 764 | | 85 | | 849 | | | Excluded component of fair value hedges | 10 | | (3) | | 7 | | | Long-duration insurance contracts | (2) | | 1 | | (1) | | | Change | $ | 2,506 | | $ | (376) | | $ | 2,130 | | | Balance at March 31, 2025 | $ | (51,933) | | $ | 6,211 | | $ | (45,722) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1) Income tax effects of these items are released from AOCI contemporaneously with the related gross pretax amount. The Company recognized pretax (gains) losses related to amounts in AOCI reclassified to the Consolidated Statement of Income as follows:
| | | | | | | | | | | | Increase (decrease) in AOCI due to amounts reclassified to
Consolidated Statement of Income | | Three Months Ended March 31, | | | In millions of dollars | 2026 | 2025 | | | | Realized (gains) losses on sales of investments | $ | (270) | | $ | (121) | | | | | Gross impairment losses | 113 | | 3 | | | | | Subtotal, pretax | $ | (157) | | $ | (118) | | | | | Tax effect | 37 | | 32 | | | | Net realized (gains) losses on investments, after-tax(1) | $ | (120) | | $ | (86) | | | | | Realized DVA (gains) losses on fair value option liabilities, pretax | $ | 5 | | $ | 5 | | | | | Tax effect | (1) | | (1) | | | | | Net realized DVA, after-tax | $ | 4 | | $ | 4 | | | | | Interest rate contracts | $ | 27 | | $ | 189 | | | | | Foreign exchange contracts | 8 | | — | | | | | Subtotal, pretax | $ | 35 | | $ | 189 | | | | | Tax effect | (9) | | (46) | | | | Amortization of cash flow hedges, after-tax(2) | $ | 26 | | $ | 143 | | | | | Amortization of unrecognized: | | | | | | Prior service cost (benefit) | $ | (3) | | $ | (4) | | | | | Net actuarial loss | 71 | | 64 | | | | | | | | | Curtailment/settlement impact(3) | — | | — | | | | | Subtotal, pretax | $ | 68 | | $ | 60 | | | | | Tax effect | (18) | | (15) | | | | Amortization of benefit plans, after-tax(3) | $ | 50 | | $ | 45 | | | | | Excluded component of fair value hedges, pretax | $ | (1) | | $ | 1 | | | | | Tax effect | — | | — | | | | | Excluded component of fair value hedges, after-tax | $ | (1) | | $ | 1 | | | | | Long-duration contracts, pretax | $ | — | | $ | — | | | | | Tax effect | — | | — | | | | | Long-duration contracts, after-tax | $ | — | | $ | — | | | | | CTA, pretax | $ | (4) | | $ | 12 | | | | | Tax effect | — | | — | | | | CTA, after-tax(4) | $ | (4) | | $ | 12 | | | | Total amounts reclassified out of AOCI, pretax | $ | (54) | | $ | 149 | | | | | Total tax effect | 9 | | (30) | | | | Total amounts reclassified out of AOCI, after-tax | $ | (45) | | $ | 119 | | | |
(1)The pretax amount is reclassified to Realized gains (losses) on sales of investments, net and Gross impairment losses in the Consolidated Statement of Income. See Note 11. (2)See Note 20. (3)See Note 8. (4)The pretax amount is reclassified to Other revenue in the Consolidated Statement of Income.
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