Goodwill

The carrying value of goodwill allocated to reporting units is as follows:



	September 30, 2012									December 31, 2011
	Gross		Accumulated Impairments			Discontinued Operations		Carrying Value		Gross		Accumulated Impairments			Discontinued Operations [1]			Carrying Value
Commercial Markets
Property and Casualty Commercial	$	30	$	(30	)	$	—	$	—	$	30	$	(30	)	$	—		$	—
Consumer Markets	119		—			—		119		119		—			—			119
Wealth Management
Individual Life	224		—			—		224		224		—			—			224
Retirement Plans	87		—			—		87		87		—			—			87
Mutual Funds	159		—			—		159		159		—			—			159
Total Wealth Management	470		—			—		470		470		—			—			470
Corporate	772		(355		)	—		417		787		(355		)	(15		)	417
Total Goodwill	$	1,391	$	(385	)	$	—	$	1,006	$	1,406	$	(385	)	$	(15	)	$	1,006


[1]	Represents goodwill written off related to Federal Trust Corporation which is currently recorded in discontinued operations.

During the first quarter of 2012, the Company determined that a triggering event requiring an impairment assessment had occurred as a result of its decision to pursue sales or other strategic alternatives for the Individual Life and Retirement Plans reporting units. The Company completed interim impairment tests during each of the first three quarters of 2012 for these two reporting units which resulted in no impairment of goodwill.

Retirement Plans and Individual Life passed step one of the interim goodwill impairment test with a margin of less than 10% between fair value and book value of the reporting unit as of September 30, 2012. The fair value of the Retirement Plans and Individual Life reporting units is based on a negotiated transaction price. There could be a positive or negative impact on the result of step one in future periods based on ultimate transaction prices, market conditions and business operations.