Note 14: Goodwill

The changes in the carrying amount of goodwill, by segment and in the aggregate, were as follows:

	March 31, 2010			Fluctuations in foreign currency			March 31, 2011			Fluctuations in foreign currency			March 31, 2012

OE - Asia
Gross goodwill	$	520		$	-		$	520		$	-		$	520
Accumulated impairments		-			-			-			-			-
Net goodwill balance		520			-			520			-			520

OE - Europe
Gross goodwill		9,157			451			9,608			(564	)		9,044
Accumulated impairments		(9,157	)		(451	)		(9,608	)		564			(9,044	)
Net goodwill balance		-			-			-			-			-

OE - North America
Gross goodwill		23,769			-			23,769			-			23,769
Accumulated impairments		(23,769	)		-			(23,769	)		-			(23,769	)
Net goodwill balance		-			-			-			-			-

South America
Gross goodwill		13,869			1,240			15,109			(1,611	)		13,498
Accumulated impairments		-			-			-			-			-
Net goodwill balance		13,869			1,240			15,109			(1,611	)		13,498

Commercial Products
Gross goodwill		15,163			780			15,943			(28	)		15,915
Accumulated impairments		-			-			-			-			-
Net goodwill balance		15,163			780			15,943			(28	)		15,915

Total
Gross goodwill		62,478			2,471			64,949			(2,203	)		62,746
Accumulated impairments		(32,926	)		(451	)		(33,377	)		564			(32,813	)
Net goodwill balance	$	29,552		$	2,020		$	31,572		$	(1,639	)	$	29,933

Goodwill is assessed for impairment by the Company annually or more frequently if events or circumstances change that would, more likely than not, reduce the fair value of the reporting until below its carrying value. The Company conducted its annual assessment for goodwill impairment in the fourth quarter of fiscal 2012 by applying a fair value-based test and determined that the fair value of the Company's reporting units exceeded their respective book values. In fiscal 2011 and 2010, the fair value of the Company's reporting units also exceeded their respective book values.