Goodwill

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

The changes in the carrying value of goodwill were as follows (in thousands):

	Amount
Balance as of December 31, 2017	$	113,208
Balance as of December 31, 2018	113,208
Acquisition of Sualab Co., Ltd.	130,142
Foreign exchange rate changes	95
Balance as of December 31, 2019	$	243,445

Refer to Note 21 to the Consolidated Financial Statements for further information regarding acquisitions.

For its 2019 analysis of goodwill, management elected to perform a qualitative assessment. Based upon this assessment, management believes that it is more likely than not that the fair value of the reporting unit exceeds its carrying amount. Factors that management considered in the qualitative assessment include macroeconomic conditions, industry and market considerations, overall financial performance (both current and projected), changes in management or strategy, changes in the composition or carrying amount of net assets, and market capitalization.