Note 9. Goodwill, net

The changes in the carrying amount of goodwill, net for the nine month period ended September 30, 2014 are as follows:


(In Thousands of Dollars)	Metal Bearing Components Segment			Precision Metal Components Segment		Total
Balance as of January 1, 2014	$	8,624		$	—	$	8,624
Currency translation impacts		(523	)		—		(523	)
Goodwill acquired in acquisition		2,038			77,548		79,586

Balance as of September 30, 2014	$	10,139		$	77,548	$	87,687

The goodwill balance is tested for impairment on an annual basis during the fourth quarter and between annual tests if a triggering event occurs. As of September 30, 2014, there are no indications of impairment at the reporting units with a goodwill balance.

The goodwill acquired in acquisition during 2014 within the Metal Bearing Components segment was acquired with the acquisitions of RFK and Chelsea (see Note 2 of the Notes to Condensed Consolidated Financial Statements).

The goodwill acquired in acquisition during 2014 within the Precision Metal Components segment was acquired during the three months ended September 30, 2014 with the acquisition of Autocam (see Note 2 of the Notes to Condensed Consolidated Financial Statements).