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Goodwill | 12 Months Ended
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Dec. 31, 2014
Goodwill |
Goodwill | 6. Goodwill The changes in the carrying amount of goodwill for the years ended December 31, 2014, 2013 and 2012 are as follows:
|  | Europe |  | North America |  | South America |  | Other |  | Total |
Balance as of January 1, 2012 |  |  | 983 |  |  | 740 |  |  | 354 |  |  | 5 |  |  | 2,082 |
Translation effects |  |  | 23 |  |  | 3 |  |  | (29 | ) |  |  |  |  | (3 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of December 31, 2012 |  |  | 1,006 |  |  | 743 |  |  | 325 |  |  | 5 |  |  | 2,079 |
Translation effects |  |  | 38 |  |  | (9 | ) |  | (49 | ) |  |  |  |  | (20 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of December 31, 2013 |  |  | 1,044 |  |  | 734 |  |  | 276 |  |  | 5 |  |  | 2,059 |
Translation effects |  |  | (118 | ) |  | (11 | ) |  | (37 | ) |  |  |  |  | (166 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of December 31, 2014 |  | $ | 926 |  | $ | 723 |  | $ | 239 |  | $ | 5 |  | $ | 1,893 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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Goodwill for the Asia Pacific segment is $0 and net of accumulated impairment losses of $1,135 million as of December 31, 2014, 2013 and 2012. Goodwill is tested for impairment annually as of October 1 (or more frequently if impairment indicators arise) using a two-step process. Step 1 compares the business enterprise value ("BEV") of each reporting unit with its carrying value. The BEV is computed based on estimated future cash flows, discounted at the weighted average cost of capital of a hypothetical third-party buyer. If the BEV is less than the carrying value for any reporting unit, then Step 2 must be performed. Step 2 compares the implied fair value of goodwill with the carrying amount of goodwill. Any excess of the carrying value of the goodwill over the implied fair value will be recorded as an impairment loss. The calculations of the BEV in Step 1 and the implied fair value of goodwill in Step 2 are based on significant unobservable inputs, such as price trends, customer demand, material costs, discount rates and asset replacement costs, and are classified as Level 3 in the fair value hierarchy. During the fourth quarter of 2014, the Company completed its annual impairment testing and determined that no impairment existed.

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