NOTE 5. GOODWILL

Goodwill balances by business segment at December 31, 2017 and 2016 were:



DOLLARS IN MILLIONS	2017		2016
Property & Casualty Insurance	$	103.6	$	103.6
Life & Health Insurance	219.4		219.4
Total	$	323.0	$	323.0

The Company tests goodwill for recoverability at the reporting unit level on an annual basis as of the beginning of the first quarter and, if circumstances or events indicate that the fair value of a reporting unit may have declined below its carrying value, such tests are performed at intervening interim periods. The Company performed a quantitative goodwill impairment assessment for all reporting units as of January 1, 2017 and 2016, principally using projections of discounted future cash flows to estimate the fair values of the reporting units. For each reporting unit tested, the estimated fair value exceeded the carrying value of the reporting unit, and the Company concluded that the associated goodwill was recoverable at the aforementioned dates tested.