Goodwill

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

The following table reflects changes in the carrying amount of goodwill for the years ended December 31, 2018 and 2017:

	(in thousands)
Goodwill balance at January 1, 2017	$	452,494
Goodwill acquired	59,675
Effect of change in exchange rates	43,593
Goodwill balance at December 31, 2017	555,762
Goodwill acquired	575,750
Effect of change in exchange rates	(14,979		)
Goodwill balance at December 31, 2018	$	1,116,533

The accumulated goodwill impairment losses at December 31, 2018 and 2017 were $676.5 million. The goodwill impairment losses were originally recognized in 2011.

Effective October 1, 2018, we reorganized our operating segmentation from Electricity, Gas, Water, and Networks to Device Solutions, Networked Solutions, and Outcomes. A fair value calculation was performed to allocate goodwill from the previous reporting units to the new reporting units, using a relative fair value method. This reorganization was effective at the same date as our regular annual goodwill impairment test date, performed as of October 1. We performed quantitative assessments under both our previous reporting units and our new reporting units. As a result of these assessments, there was no impairment of the carrying value of goodwill.

The following table reflects the changes in goodwill by segment from October 1, 2018, the date of the reorganization of our operating segments:

	Device Solutions			Networked Solutions			Outcomes			Total Company
	(in thousands)
Goodwill balance at October 1, 2018	$	55,770		$	922,889		$	143,236		$	1,121,895
Measurement period adjustments to goodwill acquired	—			4,097			863			4,960
Effect of change in exchange rates	(511		)	(8,491		)	(1,320		)	(10,322		)
Goodwill balance at December 31, 2018	$	55,259		$	918,495		$	142,779		$	1,116,533