Goodwill

12 Months Ended

Dec. 31, 2018

Goodwill

Goodwill

8. 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 most recent annual goodwill impairment test as of September 30, 2018 by performing a qualitative assessment of goodwill at the reporting unit level to determine whether any indicators of impairment existed. In performing this qualitative assessment, the Bancorp evaluated events and circumstances since the last impairment analysis, macroeconomic conditions, banking industry and market conditions and key financial metrics of the Bancorp as well as reporting unit and overall Bancorp financial performance. After assessing the totality of the events and circumstances, the Bancorp determined that it was not more likely than not that the fair values of the Commercial Banking, Branch Banking and Wealth and Asset Management reporting units were less than their respective carrying amounts and, therefore, the first and second steps of the quantitative goodwill impairment test were deemed unnecessary.

Changes in the net carrying amount of goodwill, by reporting unit, for the years ended December 31, 2018 and 2017 were as follows:
		Commercial	Branch	Consumer	Wealth and Asset
($ in millions)		Banking	Banking	Lending	Management	Total
Goodwill	$	1,363	1,655	215	148	3,381
Accumulated impairment losses		(750)	-	(215)	-	(965)
Net carrying amount as of December 31, 2016	$	613	1,655	-	148	2,416
Acquisition activity		-	-	-	29	29
Net carrying amount as of December 31, 2017	$	613	1,655	-	177	2,445
Acquisition activity		17	-	-	16	33
Net carrying amount as of December 31, 2018	$	630	1,655	-	193	2,478