Annual report pursuant to Section 13 and 15(d)

Goodwill

v3.7.0.1
Goodwill
 12 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
GOODWILL
The following table summarizes the changes in the carrying amount of goodwill for 2016 and 2015:
(In thousands)
2016
 
2015
Balance at Beginning of the Year
$
115,369

 
$
100,153

Acquisition
—

 
16,237

Foreign Currency Translations and Other
(162
)
 
(1,021
)
Balance at End of the Year
$
115,207

 
$
115,369

 
 
 
 
Goodwill - Gross
$
131,749

 
$
131,911

Accumulated Impairment Losses
(16,542
)
 
(16,542
)
Goodwill - Net
$
115,207

 
$
115,369


As discussed in Note 1, goodwill is not amortized but is periodically tested for impairment. For the eight 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 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 2015 or 2014. All goodwill relates to the Aerospace segment.