GOODWILL

The changes in the carrying amount of Goodwill are as follows:



In millions	Climate			Industrial			Total
December 31, 2012 (gross)	$	7,619.9		$	368.7		$	7,988.6
Acquisitions and adjustments	(1.1		)	1.1			—
Currency translation	44.8			3.2			48.0
December 31, 2013 (gross)	7,663.6			373.0			8,036.6
Acquisitions and adjustments *	13.8			2.7			16.5
Currency translation	(158.5		)	(8.8		)	(167.3		)
December 31, 2014 (gross)	7,518.9			366.9			7,885.8
Accumulated impairment **	(2,496.0		)	—			(2,496.0		)
Goodwill (net)	$	5,022.9		$	366.9		$	5,389.8

* Increase is primarily related to a $15.0 million acquisition in March of 2014 within the Climate segment and a $3.0 million acquisition in August of 2014 within the Industrial segment.

** Accumulated impairment relates to a charge of $2,496.0 million recorded in the fourth quarter of 2008 as a result of the Company's annual impairment testing.

The Company records as goodwill the excess of the purchase price over the fair value of the net assets acquired.

In accordance with the Company’s goodwill impairment testing policy outlined in Note 2, the Company performed its annual impairment test on goodwill in the fourth quarter of each 2014, 2013, and 2012. In each year, the Company determined that the fair values of all identified reporting units exceeded their respective carrying values. Therefore, no impairment charges were recorded during 2014, 2013, and 2012.