GOODWILL

12 Months Ended

Dec. 31, 2016

GOODWILL

GOODWILL

3.GOODWILL

The change in the carrying amount of goodwill for 2016, 2015 and 2014 is as follows (in thousands):

	December 31,  2016			December 31,  2015			December 31,  2014
Beginning balance	$	17,757		$	18,303		$	20,233
Goodwill acquired	10,248			—			—
Acquisition adjustments	—			—			(1,223		)
Effect of foreign currency translation	(483		)	(546		)	(707		)
Ending balance	$	27,522		$	17,757		$	18,303

The purchase price allocation for Heidrive was revised during 2016 to reflect final valuations of intangible assets, property plant and equipment, adjustments to income taxes and the offsetting adjustments to goodwill (Note 2).