GOODWILL

During the first quarter of 2015, the Corporation realigned its reportable segments as discussed in further in Note 11. The goodwill balances as of December 31, 2014 have been restated to reflect the change in reportable segments.

The changes in the carrying amount of goodwill for the three months ended March 31, 2015 are as follows:



	(In thousands)
	Commercial/ Industrial			Defense			Power			Consolidated
December 31, 2014	$	454,092		$	356,689		$	187,725		$	998,506
Acquisitions	6,798			—			—			6,798
Goodwill adjustments	—			1,131			—			1,131
Foreign currency translation adjustment	(9,167		)	(12,985		)	(287		)	(22,439		)
March 31, 2015	$	451,723		$	344,835		$	187,438		$	983,996

During the first quarter of 2015, the Corporation performed a goodwill impairment assessment as a result of the change in its reportable segments. The Corporation tests for goodwill impairment at the reporting unit level, which is generally one level below our reportable segments. As a result of the segment change, the Corporation performed a goodwill impairment assessment on the impacted reporting unit. Based on the results of our impairment analysis, the Corporation does not believe that an impairment exists.