Goodwill

The changes in the carrying amount of goodwill by reporting unit during the nine months ended September 30, 2018 were as follows:



	Carrying Value					Carrying Value
	December 31, 2017		Foreign Currency Translation			September 30, 2018
	(In thousands)
Western Hemisphere	$	39,158	$	(93	)	$	39,065
Eastern Hemisphere	8,466		(411		)	8,055
Asia-Pacific	—		—			—
Total	$	47,624	$	(504	)	$	47,120

The Company performs its annual impairment tests of goodwill as of October 1 or when there is an indication an impairment may have occurred. As of September 30, 2018, there were no indications an impairment may have occurred.

The fair values used in the goodwill impairment assessment were determined using the net present value of the expected future cash flows for the reporting unit. During the Company’s goodwill impairment analysis, the Company determines the fair value of the reporting unit, as a whole, using a discounted cash flow analysis, which requires significant assumptions and estimates about future operations. The assumptions about future cash flows and growth rates are based on our current budget for the remainder of the current year, 2019 and for future periods, as well as our strategic plans and management’s beliefs about future exploration and development in the industry. Changes in management's forecast commodity price assumptions may cause us to reassess our goodwill for impairment and could result in non-cash impairment charges in the future.