Goodwill is subject to at least an annual assessment for impairment by applying a fair value-based test. The Company completed its most recent annual assessment as of November 30, 2020 and identified no impairment as a result of the evaluation.

The changes in the carrying value of goodwill by reportable segment for the six months ended June 30, 2021 are as follows:

(in thousands)	Retail			National Programs			Wholesale Brokerage		Services		Total
Balance as of December 31, 2020	$	2,650,470		$	1,091,122		$	483,057	$	171,269	$	4,395,918
Goodwill of acquired businesses		122,612			(1,337	)		553		—		121,828
Goodwill disposed of relating to sales of businesses		(3,050	)		—			—		—		(3,050	)
Foreign currency translation adjustments during the year		(2,421	)		1,695			—		—		(726	)
Balance as of June 30, 2021	$	2,767,611		$	1,091,480		$	483,610	$	171,269	$	4,513,970