Goodwill

The Company conducts annual goodwill impairment testing at least annually as of June 30, or more often if events, changes or circumstances indicate that the carrying amount may not be recoverable. During the third quarter of fiscal year 2016, the Company performed an interim impairment test due to weak market conditions, depressed customer orders and the Amega West Services (“Amega”) and Specialty Steel Supply (“SSS”) reporting units results lower than expectation. As a result of the goodwill impairment testing completed in the third quarter of fiscal year 2016, the Company determined that the goodwill associated with Amega and SSS was impaired and recorded an impairment charge of $12.5 million which represented the entire balance of the goodwill recorded for these reporting units.

The changes in the carrying amount of goodwill by reportable segment for the nine months ended March 31, 2017 and fiscal year 2016 were as follows:



($ in millions)	June 30, 2015			Impairment Losses			Other			June 30, 2016			Acquisition		March 31, 2017
Goodwill	$	292.1		$	—		$	(0.1	)	$	292.0		$	26.1	$	318.1
Accumulated impairment losses	(34.7		)	(12.5		)	—			(47.2		)	—		(47.2		)
Total goodwill	$	257.4		$	(12.5	)	$	(0.1	)	$	244.8		$	26.1	$	270.9

Specialty Alloys Operations	$	195.5		$	—		$	—		$	195.5		$	—	$	195.5
Performance Engineered Products	61.9			(12.5		)	(0.1		)	49.3			26.1		75.4
Total goodwill	$	257.4		$	(12.5	)	$	(0.1	)	$	244.8		$	26.1	$	270.9

The amounts included in “other” in the above table represent foreign exchange impacts on the amounts recorded in goodwill.