Annual report pursuant to Section 13 and 15(d)

Goodwill

v3.3.1.900
Goodwill
 12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
GOODWILL
The following table summarizes the changes in the carrying amount of goodwill for 2015 and 2014:
(In thousands)
2015
 
2014
Balance at Beginning of the Year
$
100,153

 
$
100,998

Acquisition
16,237

 
—

Foreign Currency Translations and Other
(1,021
)
 
(845
)
Balance at End of the Year
$
115,369

 
$
100,153

 
 
 
 
Goodwill
$
131,911

 
$
116,695

Accumulated Impairment Losses
(16,542
)
 
(16,542
)
Goodwill - Net
$
115,369

 
$
100,153


As discussed in Note 1, goodwill is not amortized but is periodically tested for impairment. For the eight reporting units with goodwill at November 1, 2015, the Company performed a quantitative assessment of the goodwill’s carrying value. The assessment indicated no impairment to the carrying value of goodwill in any of the Company’s reporting units and no impairment charge was recognized. There was no impairment to the carrying value of goodwill in 2014 or 2013. All goodwill relates to the Aerospace segment; the acquisition of ATS did not result in the recognition of goodwill.