Note 8—Goodwill

The changes in the carrying amount of goodwill, allocated by reportable segments, were as follows (See Note 21):


(Dollar amounts in thousands)	Merchant acquiring, net		Payment processing			Business solutions			Total
Balance at December 31, 2010	$	138,121	$	187,294		$	47,169		$	372,584
Foreign currency translation adjustments		—		(824	)		(48	)		(872	)

Balance at December 31, 2011		138,121		186,470			47,121			371,712
Foreign currency translation adjustments		—		558			37			595

Balance at December 31, 2012		138,121		187,028			47,158			372,307
Foreign currency translation adjustments		—		594			218			812

Balance at December 31, 2013	$	138,121	$	187,622		$	47,376		$	373,119

Goodwill is tested for impairment at least annually, or more often if events or circumstances indicate there may be impairment, using the qualitative assessment option or step zero process. Using this process, the Company first assesses whether it is “more likely than not” that the fair value of a reporting unit is less than its carrying amount.

During the third quarter of 2013, the Company conducted a qualitative assessment of each reporting unit’s fair value as of August 31, 2013. As part of the Company’s qualitative assessment, EVERTEC considered the results for the Company’s 2011 impairment test (which indicated that the fair value of each reporting unit was in excess of 30% of its carrying amount) as well as current market conditions and changes in the carrying amount of the Company’s reporting units that occurred subsequent to the 2011 impairment test. Based on the results of this qualitative assessment, EVERTEC believes the fair value of goodwill for each of the Company’s reporting units continues to exceed their respective carrying amounts and concluded that it was not necessary to conduct the two-step goodwill impairment test. Accordingly, no impairment losses for the period were recognized.