Goodwill and Intangible Assets

The change in goodwill from December 31, 2016 to September 30, 2017 consisted of the following (in thousands):



	Carrying Value
Balance at December 31, 2016	$	437,935
Goodwill acquired	26,279
Purchase price allocation adjustments	(7,668		)
Impact of foreign exchange rates	1,926
Balance at September 30, 2017	$	458,472

As of September 30, 2017, goodwill allocated to the SBP and MI segments was $450.9 million and $7.6 million, respectively. As of December 31, 2016, goodwill allocated to the SBP and Ml segments was $432.6 million and $5.3 million, respectively. Changes to initial purchase price allocations related to acquisitions may arise from changes in estimates from conditions that existed at the applicable acquisition date and as a result of net working capital adjustments.

Identifiable intangible assets that are separable and have determinable useful lives are valued separately and amortized over their benefit period. The following is the gross carrying value and accumulated amortization of the Company’s identifiable intangible assets as of September 30, 2017 and December 31, 2016 (in thousands):



	September 30, 2017							December 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trade names	$	15,980	$	(6,492	)	$	9,488	$	15,980	$	(4,097	)	$	11,883
Customer relationships	254,093		(67,442		)	186,651		235,690		(35,550		)	200,140
Other intangible assets	3,638		(779		)	2,859		3,852		(494		)	3,358
	$	273,711	$	(74,713	)	$	198,998	$	255,522	$	(40,141	)	$	215,381

The weighted average amortization period of these intangible assets in the aggregate is 4.5 years.