GOODWILL

12 Months Ended

Dec. 31, 2019

7. GOODWILL

The changes in the carrying amount of goodwill for 2019 and 2018 are as follows:


(In thousands)	Commercial/Industrial		Defense		Power		Consolidated
December 31, 2017	$	448,531	$	460,332	$	187,466	$	1,096,329
Acquisitions	—		—		9,928		9,928
Divestitures	(111)		(1,594)		—		(1,705)
Foreign currency translation adjustment	(6,405)		(9,867)		(248)		(16,520)
December 31, 2018	$	442,015	$	448,871	$	197,146	$	1,088,032
Acquisitions	—		71,644		—		71,644
Adjustments	—		(208)		—		(208)
Foreign currency translation adjustment	2,099		4,962		151		7,212
December 31, 2019	$	444,114	$	525,269	$	197,297	$	1,166,680

The purchase price allocations relating to the businesses acquired are initially based on estimates. The Corporation adjusts these estimates based upon final analysis, including input from third party appraisals when deemed appropriate. The determination of fair value is finalized no later than twelve months from acquisition. Goodwill adjustments represent subsequent adjustments to the purchase price allocation for acquisitions.

The Corporation completed its annual goodwill impairment testing as of October 31, 2019, 2018, and 2017 and concluded that there was no impairment of goodwill.