GOODWILL

12 Months Ended

Dec. 31, 2020

GOODWILL

GOODWILL

4. GOODWILL

The change in the carrying amount of goodwill for 2020 and 2019 is as follows (in thousands):

	2020		2019
Beginning balance	$	52,935	$	52,639
Goodwill acquired (Note 2)		6,629		614
Effect of foreign currency translation		2,296		(318)
Ending balance	$	61,860	$	52,935

The purchase price allocation was finalized for the Dynamic Controls acquisition during the fourth quarter of 2020.