GOODWILL

Goodwill is recorded when the consideration paid for an acquisition of a business exceeds the fair value of identifiable net tangible and intangible assets. The following table summarizes the changes in goodwill since June 30, 2016:



Balance as of June 30, 2016	$	2,325,586
Acquisition of Recommind (note 18)	93,985
Acquisition of CCM Business (note 18)	173,198
Acquisition of ECD Business (note 18)	819,366
Adjustments relating to prior acquisitions (note 18)	(3,334		)
Adjustments on account of foreign exchange	(1,275		)
Balance as of March 31, 2017	$	3,407,526