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Goodwill | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill | Goodwill The following table reflects changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022:
In thousands | Device Solutions |  | Networked Solutions |  | Outcomes |  | Total Company
Goodwill balance at January 1, 2022 | $ | 39,377 |  |  | $ | 918,005 |  |  | $ | 141,593 |  |  | $ | 1,098,975 |
Adjustment to goodwill acquired | — |  |  | (23) |  |  | — |  |  | (23) |
Goodwill impairment | (38,480) |  |  | — |  |  | — |  |  | (38,480) |
Effect of change in exchange rates | (897) |  |  | (18,095) |  |  | (2,759) |  |  | (21,751) |
Goodwill balance at December 31, 2022 | — |  |  | 899,887 |  |  | 138,834 |  |  | 1,038,721 |
Effect of change in exchange rates | — |  |  | 11,960 |  |  | 1,823 |  |  | 13,783 |
Goodwill balance at December 31, 2023 | $ | — |  |  | $ | 911,847 |  |  | $ | 140,657 |  |  | $ | 1,052,504 |
The accumulated goodwill impairment losses at December 31, 2023 and 2022 were $714.9 million. The goodwill impairment losses were originally recognized in 2011, 2013, and 2022. On October 12, 2021, we completed the acquisition of 100% of the shares of SELC Group Limited (SELC), a private limited company incorporated in Ireland. The purchase resulted in the recognition of $5.4 million in goodwill allocated to our Networked Solutions segment. During the year ended December 31, 2022, an immaterial adjustment was recorded to the goodwill acquired. During the second quarter of 2022, as the result of increases in raw material, component, labor and other costs, coupled with a decrease in forecasted revenue within the Device Solutions operating segment and reporting unit, we performed an interim goodwill impairment test. At the conclusion of the test, a goodwill impairment of $38.5 million was recognized in our Corporate unallocated segment as of June 30, 2022. We test goodwill for impairment each year as of October 1. Changes in market demand, fluctuations in the markets in which we operate, the volatility and decline in the worldwide equity markets, and a decline in our market capitalization could unfavorably impact the remaining carrying value of our goodwill, which could have a significant effect on our current and future results of operations and financial position. Based on the results of the annual impairment testing for our reporting units performed as of October 1, 2023, no adjustments to the carrying value of goodwill were required. Refer to Note 1: Summary of Significant Accounting Policies for further details regarding the annual goodwill impairment process.

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