(3) GOODWILL

The Company’s goodwill balance was $1,712.9 million and $1,840.2 million as of December 31, 2017 and June 30, 2017, respectively.

The Company’s reporting units are comprised of its strategic product groups (“SPG” or “SPGs”). Effective January 1, 2017, the Company implemented organizational changes that 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 creating a new Allstream and IP Transit SPG (See Note 13 – 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 organizational 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 December 31, 2017, the Company’s SPGs were comprised of the following: Fiber Solutions, Zayo Wavelength Solutions (“Waves”), Zayo IP Transit Solutions (“IP Transit”), Zayo SONET Solutions (“SONET”), Zayo Ethernet Solutions (“Ethernet”), Enterprise Private and Connectivity (“EPIC”), Zayo Cloud Solutions (“Cloud”), Zayo Colocation (“zColo"), Allstream and Other (primarily Zayo Professional Services).

The following reflects the changes in the carrying amount of goodwill during the six months ended December 31, 2017:


Product Group	As of June 30, 2017		Adjustments to Fiscal 2017 Acquisitions		Foreign Currency Translation and Other		As of December 31, 2017
	(in millions)
Fiber Solutions	$	633.9	$	145.5	$	3.1	$	782.5
Waves		247.4		(62.3)		1.6		186.7
Sonet		52.0		30.9		0.1		83.0
Ethernet		359.5		(263.6)		0.2		96.1
EPIC		89.5		80.0		0.3		169.8
zColo		256.3		2.7		1.3		260.3
Cloud		69.5		(4.9)		0.1		64.7
Allstream		116.5		(62.3)		—		54.2
Other		15.6		—				15.6
Total	$	1,840.2	$	(134.0)	$	6.7	$	1,712.9