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Goodwill
12 Months Ended
Dec. 31, 2021
Disclosure Text Block Supplement [Abstract]  
Goodwill Disclosure [Text Block]

Note 6Goodwill

 

There were no changes in the carrying amount of goodwill by reporting unit for the year ended December 31, 2021 and 2020.

 

The Company applies a fair value-based impairment test to the carrying value of goodwill and indefinite-lived intangible assets on an annual basis and, on an interim basis, if certain events or circumstances indicate that an impairment loss may have been incurred. Goodwill impairment exists when the estimated fair value of goodwill is less than its carrying value.

 

In the second quarter of 2021, the Company performed a qualitative assessment to determine whether it was more likely than not that the book value of each reporting unit exceeded its fair value. As a result of the Company’s qualitative assessment, it was determined that goodwill was not impaired. There were no events or changes in circumstances subsequent to the second quarter assessment that indicate that the carrying value of a reporting unit may exceed its fair value as of December 31, 2021.