	2020			2019
Balance at beginning of year	$	1,741		$	7,985
Impairment		(1,693	)		(6,020	)
Impact of foreign currency		(48	)		(224	)
Balance at end of year	$	-		$	1,741

In the third quarter of fiscal 2020, the Company determined there was a triggering event caused by the economic impacts of the COVID-19 pandemic and related restrictions. As a result, the Company performed an interim quantitative impairment test as of March 31, 2020. The result of the goodwill impairment test indicated the fair value of the Company’s CMM reporting unit was less than its carrying value. As a result, the Company recorded a non-cash goodwill charge of $1.7 million in the third quarter of fiscal 2020, which is not deductible for tax purposes. Goodwill was recorded on the local books of the Company’s CMM reporting unit. The Company’s goodwill balance was zero and $1.7 million as of June 30, 2020 and 2019, respectively.

Based on the results of the 2019 annual impairment test, the fair value of our CMM reporting unit was less than its carrying value. As a result, we recorded a non-cash goodwill impairment charge of $6.0 million due to the lack of projected revenue growth in the sales of our Off-Line Measurement Solutions. The lack of growth in the sales of our Off-Line Measurement Solutions is primarily due to companies postponing decisions about purchasing new capital goods such as CMMs. This impairment is not deductible for income tax purposes. The impairment loss is recorded in “Severance, impairment and other charges” on our Consolidated Statements of Operations. After the impairment charge, the adjusted carrying value of CMM’s goodwill was $1.7 million as of June 30, 2019 compared to $8.0 million as of June 30, 2018.