Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND CORE DEPOSIT INTANGIBLES

The following table summarizes the carrying value of goodwill by reporting unit for the years ended December 31, 2019 and 2018.



(in millions)
December 31	2019		2018
Business Bank	$	473	$	473
Retail Bank	101		101
Wealth Management	61		61
Total	$	635	$	635

The Corporation performs its annual evaluation of goodwill impairment in the third quarter of each year and on an interim basis if events or changes in circumstances between annual tests indicate goodwill might be impaired. In 2019 and 2018, the annual test of goodwill impairment was performed as of the beginning of the third quarter, and in both of these periods, a qualitative assessment resulted in the Corporation determining goodwill was not impaired as it was more likely than not the fair value of each reporting unit exceeded its carrying value.

A summary of core deposit intangible carrying value and related accumulated amortization follows:



(in millions)
December 31	2019			2018
Gross carrying amount	$	34		$	34
Accumulated amortization	(32		)	(30		)
Net carrying amount	$	2		$	4

The Corporation recorded amortization expense related to the core deposit intangible of $2 million for both the years ended December 31, 2019 and 2018. At December 31, 2019, estimated future amortization expense was as follows:



(in millions)
Years Ending December 31
2020	$	1
2021	1
Total	$	2