Goodwill

12 Months Ended

Dec. 31, 2020

Goodwill

Goodwill

9. Goodwill

The following table presents goodwill by reportable segment for the years ended December 31, 2020 and 2019:

	Segment	2020		2019
Curtis Palmer	Hydroelectric	$	14.4	$	14.4
Morris	Natural Gas		3.3		3.3
Nipigon	Natural Gas		3.6		3.6
Total		$	21.3	$	21.3

Goodwill Impairment Testing

We perform our annual goodwill impairment test as of October 31 and update the test between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value.

For the years ended December 31, 2020 and 2019, we performed a quantitative test at each reporting unit. Based on the results of the annual goodwill impairment tests for years ended December 31, 2020 and 2019, management determined that no adjustment to the carrying value for any reporting unit was necessary because in all cases, the estimated fair values of the reporting units exceeded their respective carrying values. The fair value of all reporting units was determined using an income approach and considered project-specific assumptions for the future discounted cash flows.