Goodwill

The goodwill of acquired companies is primarily related to the acquisition of an experienced and knowledgeable workforce. The following table presents goodwill balances and foreign currency translation adjustments to those balances during the three months ended December 31, 2017:



Goodwill (in thousands)	CAG		GovDeals		Total
Balance at September 30, 2017	21,657		23,731		45,388
Translation adjustments	78		—		78
Balance at December 31, 2017	$	21,735	$	23,731	$	45,466

As part of the Company's fiscal year 2017 annual goodwill impairment assessment, the Company believed that certain events required performing a step one evaluation of goodwill to identify potential impairment. After performing the step one test, the Company concluded its remaining reporting units with goodwill had fair values as of July 1, 2017, that substantially exceeded their respective book values. During the three months ended December 31, 2017, the Company did not identify any indicators of impairment that required performing a step one evaluation.