Annual report pursuant to Section 13 and 15(d)


12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
The following table summarizes the changes in the carrying amount of goodwill at December 31 as follows:
(In thousands) 2018 2017
Balance at Beginning of the Year $ 125,645  $ 115,207 
Acquisition (241) 25,740 
Impairment Charge —  (16,237)
Foreign Currency Translations and Other (452) 935 
Balance at End of the Year $ 124,952  $ 125,645 
Goodwill, Gross $ 157,731  $ 158,424 
Accumulated Impairment Losses (32,779) (32,779)
Goodwill, Net $ 124,952  $ 125,645 
All goodwill relates to the Aerospace segment. As discussed in Note 1, goodwill is not amortized but is periodically tested for impairment. For the nine reporting units with goodwill on the first day of our fourth quarter, the Company performed a quantitative assessment of the goodwill’s carrying value. The 2018 assessment indicated no impairment to the carrying value of goodwill in any of the Company’s reporting units and no impairment charge was recognized.
In the year ending December 31, 2017, the Company recorded an impairment charge of approximately $16.2 million in the consolidated statement of operations associated to the Armstrong reporting unit, which represented all of Armstrong's goodwill. The impairment loss was incurred in the Aerospace segment and is reported on the Impairment Loss line of the Consolidated Statements of Operations. There was no impairment to the carrying value of goodwill in 2016.