The Hartford 2015 Annual Report Download - page 195

Table of Contents THE HARTFORD FINANCIAL SERVICES GROUP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
8. Goodwill
F-64
The carrying value of goodwill allocated to reporting units as of December 31, 2015 and 2014 is as follows:
Gross Accumulated
Impairments Carrying Value
Personal Lines $ 119 $ — $ 119
Mutual Funds 149 — 149
Corporate [1] 585 (355) 230
Total $ 853 $ (355) $ 498
[1] Goodwill within Corporate is primarily attributed to the Company’s “buy-back” of Hartford Life, Inc. ("HLI") in 2000 and was allocated to each of
Hartford Life’s reporting units based on the reporting unit’s fair value of in-force business at the buy-back date. Although this goodwill was
allocated to each reporting unit, it is held in Corporate for segment reporting. Accumulated impairments relate to reporting units with no remaining
goodwill. Carrying value as of December 31, 2015 and 2014 includes $138 and $92 for the Group Benefits and Mutual Funds reporting units,
respectively.
Year ended December 31, 2015
The annual goodwill assessment for the Mutual Funds, Group Benefits, and Personal Lines reporting units was completed as of October
31, 2015, which resulted in no write-downs of goodwill for the year ended December 31, 2015. All reporting units passed the first step
of their annual impairment test with a significant margin.
Year ended December 31, 2014
The annual goodwill assessment for the Group Benefits, Personal Lines, and Mutual Funds reporting units was completed as of October
31, 2014, which resulted in no write-downs of goodwill for the year ended December 31, 2014. The reporting units passed the first step
of their annual impairment test with a significant margin with the exception of the Group Benefits reporting unit. Group Benefits passed
the first step of its annual impairment test with less than a 10% margin. The fair value of the Group Benefits reporting unit is based on
discounted cash flows using earnings projections on in force business and future business growth.
Year ended December 31, 2013
During the first quarter of 2013, the Company completed the sale of its Retirement Plans business to MassMutual. Accordingly, the
carrying value of the reporting unit's goodwill of $156 was reduced and included in reinsurance loss on disposition in the Company's
Consolidated Statements of Operations.
The annual goodwill assessment for the Mutual Funds, Group Benefits, and Personal Lines reporting units was completed as of October
31, 2013, which resulted in no write-downs of goodwill for the year ended December 31, 2013. All reporting units passed the first step
of their annual impairment test with a significant margin.