XML 32 R19.htm IDEA: XBRL DOCUMENT v3.20.2
Goodwill
6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
Business combinations entered into by the Bancorp typically result in the recognition of goodwill. Acquisition activity includes acquisitions in the respective period in addition to purchase accounting adjustments related to previous acquisitions. On March 22, 2019, the Bancorp completed its acquisition of MB Financial, Inc. In connection with the acquisition, the Bancorp recorded $1.8 billion of goodwill in 2019. During the first quarter of 2020, the Bancorp finalized the valuations for the assets acquired, liabilities assumed and noncontrolling interest recognized based on additional information available subsequent to the acquisition date. As a result, the Bancorp recognized additional goodwill of $9 million in connection with the acquisition of MB Financial, Inc. during the three months ended March 31, 2020.

The Bancorp completed its annual goodwill impairment test as of September 30, 2019 and the estimated fair values of the Commercial Banking, Branch Banking and Wealth and Asset Management reporting units exceeded their carrying values, including goodwill. During the first and second quarters of 2020, the Bancorp performed a qualitative assessment of its goodwill in consideration of the overall economic impact of the COVID-19 pandemic and the uncertainties it has introduced. Based upon this assessment, the Bancorp concluded it was not more likely than not that the fair value of its reporting units were less than their carrying amounts.

Changes in the net carrying amount of goodwill, by reporting unit, for the six months ended June 30, 2020 and the year ended December 31, 2019 were as follows:
($ in millions)Commercial
Banking
Branch
Banking
Consumer
Lending
Wealth
and Asset
Management
General
Corporate
and Other
Total
Goodwill$1,380  1,655  215  193  —  3,443  
Accumulated impairment losses(750) —  (215) —  —  (965) 
Net carrying value as of December 31, 2018$630  1,655  —  193  —  2,478  
Acquisition activity1,324  391  —  62  —  1,777  
Sale of business—  —  —  (3) —  (3) 
Net carrying value as of December 31, 2019$1,954  2,046  —  252  —  4,252  
Acquisition activity  —   —   
Net carrying value as of June 30, 2020$1,961  2,047  —  253  —  4,261