Annual report pursuant to Section 13 and 15(d)

Goodwill

v3.8.0.1
Goodwill
 12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
GOODWILL
The following table summarizes the changes in the carrying amount of goodwill for 2017 and 2016:
(In thousands)
2017
 
2016
Balance at Beginning of the Year
$
115,207

 
$
115,369

Acquisition
25,740

 
—

Impairment Charge
(16,237
)
 
—

Foreign Currency Translations and Other
935

 
(162
)
Balance at End of the Year
$
125,645

 
$
115,207

 
 
 
 
Goodwill - Gross
$
158,424

 
$
131,749

Accumulated Impairment Losses
(32,779
)
 
(16,542
)
Goodwill - Net
$
125,645

 
$
115,207


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. As a result of this assessment, the Company recorded an impairment charge of approximately $16.2 million in the December 31, 2017 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 or 2015. All goodwill relates to the Aerospace segment.