Note 13: Goodwill

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

	Asia		BHVAC			CIS		Total
Balance, March 31, 2015	$	0.5	$	15.7		$	-	$	16.2
Effect of exchange rate changes		-		(0.4	)		-		(0.4	)
Balance, March 31, 2016		0.5		15.3			-		15.8
Acquired Goodwill		-		-			150.6		150.6
Effect of exchange rate changes		-		(1.6	)		0.3		(1.3	)
Balance, March 31, 2017	$	0.5	$	13.7		$	150.9	$	165.1

As a result of its acquisition of Luvata HTS, the Company recorded $150.6 million of goodwill. See Note 2 for additional information.

The Company assesses goodwill for impairment annually, 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. The Company conducted its annual assessment for goodwill impairment during the fourth quarter of fiscal 2017 for its BHVAC and Asia segments, by applying a fair value-based test, and determined that the fair value of its reporting units exceeded their respective book values. The Company will perform goodwill impairment testing for its recently-acquired CIS segment beginning in fiscal 2018.

At both March 31, 2017 and 2016, accumulated goodwill impairment losses totaled $31.6 million and $8.7 million within the Americas and Europe segments, respectively.