Note 14:

Goodwill

Changes in the carrying amount of goodwill, by segment and in the aggregate, were as follows:

	Americas			Asia		Building HVAC			Total
Balance, March 31, 2014	$	10.9		$	0.5	$	17.3		$	28.7
Impairment charge		(7.8	)		-		-			(7.8	)
Effect of exchange rate changes		(3.1	)		-		(1.6	)		(4.7	)
Balance, March 31, 2015		-			0.5		15.7			16.2
Effect of exchange rate changes		-			-		(0.4	)		(0.4	)
Balance, March 31, 2016	$	-		$	0.5	$	15.3		$	15.8

The Company assesses goodwill for impairment annually, or more frequently if events or circumstances change that would, more likely than not, reduce the fair value of a reporting unit below its carrying value. The Company conducted its annual assessment for goodwill impairment during the fourth quarter of fiscal 2016 by applying a fair value-based test and determined that the fair value of its reporting units exceeded their respective book values. In fiscal 2015, the Company recorded a $7.8 million goodwill impairment charge within the Americas segment in connection with its annual assessment. The impairment charge was primarily caused by a decline in the financial outlook for Brazil.

At both March 31, 2016 and 2015, accumulated goodwill impairment losses totaled $31.6 million and $8.7 million within the Americas and Europe segments, respectively.