7.Goodwill

A reconciliation of the activity for goodwill for the first quarter of 2018 and the first quarter of 2017 is as follows:

	First Quarter
(in thousands)	2018		2017
Beginning balance - goodwill	$	169,316	$	144,586
System Transformation Transactions acquisitions		-		4,849
Measurement period adjustments⁽¹⁾		946		(52	)
Ending balance - goodwill	$	170,262	$	149,383

⁽¹⁾ Measurement period adjustments relate to post-closing adjustments made in accordance with the terms and conditions of the applicable asset purchase agreement or asset exchange agreement for each System Transformation Transaction.

The Company’s goodwill resides entirely within the Nonalcoholic Beverages segment. The Company performs its annual impairment test of goodwill as of the first day of the fourth quarter of each fiscal year. During the first quarter of 2018, the Company did not experience any triggering events or changes in circumstances indicating the carrying amounts of the Company’s goodwill exceeded fair values.