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Goodwill
 3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
11. 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 quarter of 2020, in consideration of the deterioration in macroeconomic conditions and industry and market conditions due to the
COVID-19
pandemic, the Bancorp performed a qualitative assessment of its goodwill. 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 three months ended March 31, 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 activity
   
1,324
     
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
 
 
7
 
  
 
1
 
  
 
-
 
  
 
1
 
  
 
-
 
  
 
9
 
  
 
 
Net carrying value as of March 31, 2020
 
$
1,961
 
  
 
2,047
 
  
 
-
 
  
 
253
 
  
 
-
 
  
 
4,261