Goodwill, Net

A reconciliation of the changes in the carrying amount of goodwill, net, by reporting unit, for the years ended December 31, 2014 and 2013 is as follows:



(in thousands)	D&A			TPS			Consolidated
Balance at January 1, 2013
Goodwill	$	708,577		$	653,771		$	1,362,348
Accumulated impairment losses	(600		)	(6,925		)	(7,525		)
Goodwill, net	707,977			646,846			1,354,823
Acquisitions	26,846			28,942			55,788
Translation adjustments	(20,262		)	—			(20,262		)
Document solutions reclassification	(26,044		)	26,044			—
Other	325			—			325
Balance at December 31, 2013
Goodwill, net	688,842			701,832			1,390,674
Acquisitions	285,801			39,140			324,941
Transfer from assets of discontinued operations	—			77,616			77,616
Impairment loss on transferred assets of discontinued operations	—			(3,900		)	(3,900		)
Translation adjustments	(12,527		)	(303		)	(12,830		)
Under-banked credit services reclassification	(9,044		)	9,044			—
Other	4,257			—			4,257
Balance at December 31, 2014
Goodwill, net	$	957,329		$	823,429		$	1,780,758

As of December 31, 2013, we concluded that we would actively pursue the sale of our Asset Management and Processing Solutions ("AMPS") reporting segment, which was comprised of collateral solutions, field services, technology solutions, solutions express and outsourcing services. As a result, these businesses were reflected in our consolidated financial statement as discontinued operations. On September 30, 2014, we completed the sale of our collateral solutions and field services businesses, which were previously included in our AMPS reporting segment, for consideration of $29.1 million, subject to working capital adjustments, as well as contingent consideration of up to $20.0 million. Further, we concluded to cease pursuing the sale of our remaining product lines, previously included in our AMPS reporting segment. These remaining product lines included our technology solutions, solutions express and outsourcing services product lines. These product lines were previously reflected as discontinued operations and are now reflected as part of continuing operations within our TPS segment reporting disclosures for all periods presented. See Note 1 - Description of the Company and Note 18 - Discontinued Operations for further discussion.

During 2013, as part of the process of marketing the sale of the AMPS businesses, we developed long-term projections and obtained indicative fair market values from potential participants. The level of indicative values was below the net book value of the businesses being marketed; therefore, we recorded a pre-tax non-cash impairment of $42.2 million related to our retained product lines, which is currently within continuing operations, and a pre-tax non-cash impairment of $9.6 million related to the businesses sold within discontinued operations. During the second quarter of 2014, we identified and corrected an error which understated the 2013 goodwill impairment charge by $3.9 million related to the retained product lines within continuing operations.

At September 30, 2014, we allocated the former AMPS reporting unit goodwill between the businesses sold and the retained product lines based on their relative fair value and also evaluated the retained goodwill of $73.7 million at the TPS reporting unit level noting no additional impairment indicators. Additionally, we reclassified $20.0 million of goodwill, net, to assets of discontinued operations as of the year ended December 31, 2013, in connection with the sale of our collateral solutions and field services businesses. Further, in September 2014, we transferred our under-banked credit services business from our D&A segment to our TPS segment due to changes in our management structure and internal reporting, see Note 1 - Description of the Company. As a result of the transfer, we revised our reporting for segment disclosure purposes, see Note 19 - Segment Financial Information and reassessed our reporting units for purposes of evaluating the carrying value of our goodwill. This assessment required us to perform a third quarter reassignment of our goodwill to each reporting unit impacted using the relative fair value approach, based on the fair values of the reporting units as of August 31, 2014. As of December 31, 2014 and December 31, 2013, the assessment resulted in $8.7 million and $9.0 million, respectively, of goodwill allocated to our TPS reporting unit previously from D&A.

In connection with our acquisition of MSB/DataQuick, we recorded $277.8 million of goodwill within our D&A reporting unit and $29.9 million of goodwill within our TPS reporting unit for the year ended December 31, 2014. Further, for the year ended December 31, 2014, we recorded $2.3 million of goodwill in connection with our acquisition of Terralink International Limited ("Terralink") within our D&A segment, $9.2 million of goodwill in connection with our acquisition of Bank of America's mortgage-related credit reporting operations within our TPS segment and $5.7 million of goodwill in connection with acquisitions that were not significant, all of which were within our D&A reporting unit. See Note 16 - Acquisitions for additional information. For the year ended December 31, 2013, we recorded $12.7 million of goodwill in connection with our acquisition of EQECAT, Inc. and EQECAT Sarl ("EQECAT") in December 2013, $14.9 million of goodwill in connection with our acquisition of an additional 10% interest in PIQ in September 2013, $28.9 million of goodwill in connection with our acquisition of Bank of America's flood zone determination and tax processing services operations in July 2013 and $0.5 million of goodwill in connection with an acquisition that was not significant.

Our policy is to perform an annual goodwill impairment test for each reporting unit in the fourth quarter. In addition to our annual impairment test, we periodically assess whether events or circumstances occurred that potentially indicate that the carrying amounts of these assets may not be recoverable. Determining the fair value of a reporting unit is judgmental in nature and requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates and future market conditions, among others. Key assumptions used to determine the fair value of our reporting units in our testing were: (a) expected cash flow for the period from 2015 to 2020; and (b) a discount rate ranging from 9.0% to 9.5%, which was based on management's best estimate of the after-tax weighted average cost of capital. Based on the results of our fourth quarter goodwill impairment test, the goodwill attributable to our reporting units is not impaired as of December 31, 2014. It is reasonably possible that changes in the facts, judgments, assumptions and estimates used in assessing the fair value of the goodwill could cause a reporting unit to become impaired.