Goodwill

Goodwill was $1,612 million at both December 31, 2016 and 2015. Included in goodwill for these periods were accumulated impairment losses of $670 million.

During the third quarter of 2016, we completed our annual impairment test of goodwill and determined that the fair value of all of our reporting units exceeded their carrying amounts. During the fourth quarter of 2016, we performed an interim impairment test of the goodwill associated with our Commercial Banking reporting unit as a result of the transfer of certain customer relationships to Global Banking and Markets. As a result of this testing, the fair value of our Commercial Banking reporting unit continued to exceed its carrying value, including goodwill.