Note 5 – Goodwill

Goodwill activity for the two years ended December 31, 2015 consisted of the following:


Net balance at December 31, 2013	$	23,532
Additions		919
Net foreign currency translation		(2,243	)

Net balance at December 31, 2014	$	22,208
Additions - Silanis		60,331
Net foreign currency translation		(1,686	)

Net balance at December 31, 2015	$	80,853

December 31, 2015 balance at cost	$	81,683
Accumulated amortization		(830	)

Net balance at December 31, 2015	$	80,853

In 2015, “Additions – Silanis” refers to estimated goodwill related to the acquisition of Silanis described in Note 4.

There were no impairment losses in 2015 or 2014.

Certain portions of goodwill are denominated in local currencies and are subject to currency fluctuations.