Goodwill

12 Months Ended

Dec. 31, 2023

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.

The Bancorp completed its annual goodwill impairment test as of September 30, 2023 and the estimated fair values of the Commercial Banking, Consumer and Small Business Banking and Wealth and Asset Management reporting units exceeded their carrying values, including goodwill.

Changes in the net carrying amount of goodwill, by reporting unit, for the years ended December 31, 2023 and 2022 were as follows:

($ in millions)	Commercial Banking		Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other	Total
Goodwill	$	2,730	2,518	231	—	5,479
Accumulated impairment losses	(750)		(215)	—	—	(965)
Net carrying value as of December 31, 2021	$	1,980	2,303	231	—	4,514
Acquisition activity	—		440	—	—	440
Reallocation of goodwill	378		(378)	—	—	—
Sale of businesses	(34)		—	(5)	—	(39)
Net carrying value as of December 31, 2022	2,324		2,365	226	—	4,915
Acquisition activity	—		4	—	—	4
Net carrying value as of December 31, 2023	$	2,324	2,369	226	—	4,919