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Note 10 - Goodwill
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Goodwill Disclosure [Text Block]

10.

Goodwill

 

  

FirstService

  

FirstService

     
  

Residential

  

Brands

  

Consolidated

 
             

Balance, December 31, 2021

 $256,435  $586,927  $843,362 

Goodwill acquired during the year

  2,219   37,787   40,006 

Other items

  2,562   2,117   4,679 

Foreign exchange

  (1,412)  (549)  (1,961)

Balance, December 31, 2022

  259,804   626,282   886,086 

Goodwill acquired during the year

  59,456   230,290   289,746 

Other items

  555   2,722   3,277 

Foreign exchange

  503   213   716 

Balance, December 31, 2023

 $320,318  $859,507  $1,179,825 

 

Goodwill represents the excess of purchase price over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. A test for goodwill impairment is required to be completed annually, in the Company’s case as of August 1, or more frequently if events or changes in circumstances indicate the asset might be impaired. Based on the qualitative assessment in 2023, the Company has concluded that goodwill is not impaired. There were no triggering events since the impairment test in August.