(5) GOODWILL

The Company’s goodwill balance was $1,840.2 million and $1,214.5 million as of June 30, 2017 and 2016, respectively.

The Company’s reporting units are comprised of SPGs. Effective January 1, 2017, the Company implemented organizational changes which had an impact on the composition of the Company’s SPGs. The change in structure had the impact of consolidating and/or regrouping existing SPGs, disaggregating the legacy Zayo Canada SPG among the existing SPGs and a creating a new Allstream and IP Transit SPG (See Note 15 – Segment Reporting). In connection with the organizational change, goodwill was re-allocated to the Company’s SPGs on a relative fair value basis. The Company completed an assessment immediately prior to and after the organization change at the SPG level and determined that it is more likely than not that the fair value of the Company’s reporting units is greater than their carrying amounts.

As of June 30, 2017, the Company’s SPGs were comprised of the following: Fiber Solutions, Zayo Wavelength Services (“Waves”), Zayo IP Transit Services (“IP Transit”), Zayo SONET Services (“SONET”), Zayo Ethernet Services (“Ethernet”), Enterprise Private and Connectivity (“EPIC”), Zayo Cloud Services (“Cloud”), Zayo Colocation (“zColo"), Allstream and Other (primarily ZPS).

The following reflects the changes in the carrying amount of goodwill during Fiscal 2017:


Product Group	As of June 30, 2016		Reallocation among reporting units			Adjustments to Fiscal 2016 Acquisitions	Fiscal 2017 Acquisitions			Foreign Currency Translation and Other		As of June 30, 2017
	(in millions)
Dark Fiber	$	295.1	$	(295.1)	$	—		$	—	$	—	$	—
Fiber Solutions		—		544.8		1.7			92.9		(5.5)		633.9
Waves		258.3		(104.0)		(2.7)			96.5		(0.7)		247.4
Sonet		51.3		0.7		—			—		—		52.0
Ethernet		104.3		(59.8)		(0.5)			315.3		0.2		359.5
IP		87.5		(87.5)		—			—		—		—
MIG		73.6		(73.6)		—			—		—		—
EPIC		—		89.5		—			—		—		89.5
zColo		268.8		(15.0)		(3.7)			4.7		1.5		256.3
Cloud		60.0		—		(0.1)			9.4		0.2		69.5
Allstream		—		—		—			116.5		—		116.5
Other		15.6		—		—			—		—		15.6
Total	$	1,214.5	$	—	$	(5.3)		$	635.3	$	(4.3)	$	1,840.2

The following reflects the changes in the carrying amount of goodwill during Fiscal 2016:


Product Group	As of July 1, 2015		Fiscal 2016 Acquisitions			Adjustments to Fiscal 2015 Acquisitions		Foreign Currency Translation and Other		As of July 1, 2016
	(in millions)
Dark Fiber	$	299.1	$	10.2	$	—	$	(14.2)	$	295.1
Waves		265.6		—		—		(7.3)		258.3
Sonet		50.3		1.0		—		-		51.3
Ethernet		104.2		—		—		0.1		104.3
IP		86.3		1.4		—		(0.2)		87.5
MIG		73.4		—		0.2		-		73.6
zColo		273.2		1.3		(5.7)		-		268.8
Cloud		57.0		3.0		—		-		60.0
Other		15.3		—		—		0.3		15.6
Total	$	1,224.4	$	16.9	$	(5.5)	$	(21.3)	$	1,214.5