Goodwill |
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Goodwill |
Note 14: Goodwill
The following table presents a roll forward of the carrying value of goodwill from March
31, 2022 to March 31, 2024.
The Company tests goodwill for impairment annually, as of March 31, or more frequently if events or circumstances change that would, more likely than not, reduce the fair
value of a reporting unit below its carrying value. To test goodwill for impairment, the Company determines the fair value of each reporting unit based upon the present value of estimated future cash flows and compares the fair value of each
reporting unit with its carrying value. The Company’s determination of fair value involves judgment and the use of estimates and assumptions, including assumptions regarding the revenue growth rates and operating profit margins used to calculate
estimated future cash flows and risk-adjusted discount rates.
As a result of its annual goodwill impairment tests performed as of March 31, 2024, the Company determined that the fair value of each of its reporting
units exceeded their respective book values.
At both March 31, 2024 and 2023, accumulated goodwill impairment losses totaled $40.8 million within the Performance Technologies segment.
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