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Goodwill | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill | Goodwill The changes in the carrying amount of goodwill for the year ended December 31, 2023 are as follows (in thousands):
| North America |  | EMEA |  | APAC |  | Consolidated
Goodwill | $ | 727,013 |  |  | $ | 169,174 |  |  | $ | 20,993 |  |  | $ | 917,180 |
Accumulated impairment losses | (323,422) |  |  | (151,439) |  |  | (13,973) |  |  | (488,834) |
Goodwill acquired during 2022 | 69,923 |  |  | — |  |  | — |  |  | 69,923 |
Measurement period adjustments during 2022 | — |  |  | — |  |  | — |  |  | — |
Foreign currency translation adjustment | (2,991) |  |  | (1,748) |  |  | (497) |  |  | (5,236) |
Balance at December 31, 2022 | $ | 470,523 |  |  | $ | 15,987 |  |  | $ | 6,523 |  |  | $ | 493,033 |
Goodwill acquired during 2023 | 117,022 |  |  | 71,698 |  |  | — |  |  | 188,720 |
Foreign currency translation adjustment | 1,338 |  |  | 1,163 |  |  | 91 |  |  | 2,592 |
Balance at December 31, 2023 | $ | 588,883 |  |  | $ | 88,848 |  |  | $ | 6,614 |  |  | $ | 684,345 |
On December 1, 2023, we acquired SADA, which is reported in our North America business. Under the acquisition method of accounting, the preliminary purchase price for the acquisition was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. The excess purchase price over fair value of net assets acquired of approximately $117,022,000 was recorded as goodwill in the North America reporting unit. The primary driver for this acquisition was to strengthen our ability to benefit from the growing trend of multicloud adoption, and to accelerate our progress toward our strategic objective of growing cloud services and solutions. On August, 17, 2023 we acquired Amdaris, which is reported in our EMEA business. Under the acquisition method of accounting, the preliminary purchase price for the acquisition was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. The excess purchase price over fair value of net assets acquired of approximately $71,698,000 was recorded as goodwill in the EMEA reporting unit. The primary driver for this acquisition was to expand our capacity to deliver services to support clients’ digital transformation initiatives in EMEA. On June, 1, 2022 we acquired Hanu, which is reported in our North America business. Under the acquisition method of accounting, the purchase price for the acquisition was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. The excess purchase price over fair value of net assets acquired of approximately $69,923,000 was recorded as goodwill in the North America reporting unit. During 2023, we periodically assessed whether any indicators of impairment existed which would require us to perform an interim impairment review. As of each interim period end during the year, we concluded that a triggering event had not occurred that would more likely than not reduce the fair value of our reporting units below their carrying values. We performed our annual test of goodwill for impairment during the fourth quarter of 2023. The results of the qualitative goodwill impairment test indicated that the fair values of our North America, EMEA and APAC reporting units were in excess of their respective carrying values.

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