Quarterly report pursuant to Section 13 or 15(d)

Goodwill

v3.20.2
Goodwill
 3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
Goodwill
    
We have three separate reporting units for purposes of our goodwill impairment testing. The changes in the carrying amount of goodwill by reporting unit were as follows (in thousands):
 
Aviation Connectivity
 
Maritime & Land Connectivity
 
Media & Content
 
Total
 
 
 
 
 
 
 
 
Gross carrying amount
$
98,022

 
$
209,130

 
$
83,455

 
$
390,607

Accumulated impairment loss
(44,000
)
 
(187,000
)
 
—

 
(231,000
)
 
54,022

 
22,130

 
83,455

 
159,607

Impairment loss
—

 
(22,130
)
 
—

 
(22,130
)
Foreign currency translation adjustments
—

 
—

 
(118
)
 
(118
)
Balance March 31, 2020
$
54,022

 
$
—

 
$
83,337

 
$
137,359

 
 
 
 
 
 
 
 
Gross carrying amount
$
98,022

 
$
209,130

 
$
83,337

 
$
390,489

Accumulated impairment loss
(44,000
)
 
(209,130
)
 
—

 
(253,130
)
Balance March 31, 2020
$
54,022

 
$
—

 
$
83,337

 
$
137,359



Goodwill Impairment
Goodwill and equity method investments are non-financial instruments that are measured at fair value on a non-recurring basis. In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment, which simplifies the test for goodwill impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measured a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The guidance was adopted during the first quarter of 2017, and therefore, our interim goodwill impairment tests as of March 31, 2020 were performed using only a Step 1 test.
As of March 31, 2020, the cumulative impairment write-offs relating to our Aviation Connectivity and our Maritime & Land Connectivity reporting units was $44.0 million and $209.1 million, respectively. The Company is required to test goodwill for impairment on an annual basis and, if current events or circumstances require, on an interim basis. Our next annual impairment evaluation is scheduled during the fourth quarter of 2020.