Note 7. Goodwill

The carrying amount of goodwill at March 31, 2013 and 2012 was $35.4 million and $36.8 million, respectively, and has been recorded in connection with the Company’s acquisition of Impella Cardiosystems AG, or Impella, in 2005. The goodwill activity is as follows:


	(in $000’s)
Balance at March 31, 2011	$	38,946
Exchange rate impact		(2,100	)

Balance at March 31, 2012	$	36,846
Exchange rate impact		(1,436	)

Balance at March 31, 2013	$	35,410

The Company has no accumulated impairment losses.