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 changes in the carrying amounts of goodwill for the years ended December 31, 2015 and 2014, were as follows (in thousands).

 
2015
 
2014
Beginning balance
$
53,014

 
$
52,345

Adjustment to IFES goodwill
—

 
308

Goodwill arising from business combinations (Note 3)
41,093

 
379

Currency translation and other adjustments
(311
)
 
(18
)
Ending balance
$
93,796

 
$
53,014



Goodwill arose from the acquisitions of WOI, RMG, masFlight and navAero in 2015 and the acquisition of Purple in 2014, as detailed in Note 3. Business Combinations. Refer also to Note 3. Business Combinations for changes during the years ended December 31, 2015 and 2014 affecting the goodwill balances.

The Company performed its annual impairment test for goodwill in the fourth quarter of 2015. The estimated fair values for each reporting unit exceeded their respective carrying values, and accordingly, no impairment losses were recorded during the year.