Goodwill

As of December 31, 2015 and 2014, the Company had Goodwill of $66.9 million and $60.9 million, respectively. $14.2 million at December 31, 2015 and 2014, respectively represents the excess of enterprise value upon emergence from bankruptcy over the fair value of net tangible and identifiable intangible assets as of February 24, 2012. During the year ended December 31, 2014, the Company recorded $52.7 million of Goodwill in relation to the acquisition of Polygon Northwest Homes. During the year ended December 31, 2015, the Company recorded a measurement period adjustment based upon information that was received subsequent to the acquisition date that related to conditions that existed as of that date. This adjustment increased the value of Goodwill by $6.0 million. Refer to Note 2 for further details relating to the acquisition of Polygon Northwest Homes.

Goodwill by operating segment as of December 31, 2015 and 2014 is as follows (in thousands):



	December 31,
	2015		2014
California	$	6,801	$	6,801
Arizona	5,951		5,951
Nevada	1,457		1,457
Washington	31,200		26,485
Oregon	21,493		20,193
Total goodwill	$	66,902	$	60,887