5. Goodwill

The following table presents the changes in our goodwill balance (in thousands):


Balance at December 31, 2013	$	347,382
Acquisitions		10,358
Dispositions		(12,070)
Spin-off		(103,042)
Goodwill impairment charge		(232,270)
Balance at December 31, 2014		10,358
Balance at December 31, 2015	$	10,358

The change in goodwill in 2014 is attributable to the acquisition of Saatchi Online and the disposition of our Creativebug and CoveritLive businesses. In August 2014, we completed the Separation of Rightside and the Distribution, and we no longer record goodwill related to Rightside on our balance sheet.

For the year ended December 31, 2014, due to unexpected revenue declines attributable to lower traffic and monetization yield on certain of our content and media websites, we lowered our future cash flow expectations. As a result of the decline in our cash flow forecast as well as a sustained decline in our market capitalization which remained at a level below the book value of our net assets for an extended period of time, we performed an interim assessment of impairment of the goodwill in our content and media reporting unit in the third quarter of 2014. Based on our analyses, we determined that the implied fair value of goodwill was substantially lower than the carrying value of goodwill for the content and media reporting unit and as a result, we determined that the implied fair value of the goodwill in the content and media reporting unit was zero. Accordingly, we recorded $232.3 million for the goodwill impairment charge in 2014.

We performed our annual impairment analysis in the fourth quarter of 2015, and determined that no impairment of goodwill existed at December 31, 2015.