GOODWILL

12 Months Ended

Dec. 31, 2023

GOODWILL

GOODWILL

4. GOODWILL

The change in the carrying amount of goodwill for 2023 and 2022 is as follows (in thousands):

		December 31,		December 31,
		2023		2022
Beginning balance	$	126,366		106,633
Goodwill acquired		2,876		21,556
Impact of measurement period adjustments of acquisitions (Note 2)		1,356		291
Effect of foreign currency translation		740		(2,114)
Ending balance	$	131,338	$	126,366

The purchase price allocation for Sierramotion is not final as of December 31, 2023. Adjustments to this allocation may result in changes to the amounts recorded for goodwill in future periods. The purchase price allocation was finalized for FPH, ThinGap, and Airex during 2023.