Note 13: Goodwill

Changes in the carrying amount of goodwill, by segment and in the aggregate, were as follows:

	March 31, 2011			Fluctuations in foreign currency			March 31, 2012			Acquisition		Fluctuations in foreign currency			March 31, 2013

Asia
Gross goodwill	$	0.5		$	-		$	0.5		$	-	$	-		$	0.5
Accumulated impairments		-			-			-			-		-			-
Net goodwill balance		0.5			-			0.5			-		-			0.5

Europe
Gross goodwill		9.6			(0.6	)		9.0			-		(0.3	)		8.7
Accumulated impairments		(9.6	)		0.6			(9.0	)		-		0.3			(8.7	)
Net goodwill balance		-			-			-			-		-			-

North America
Gross goodwill		23.8			-			23.8			-		-			23.8
Accumulated impairments		(23.8	)		-			(23.8	)		-		-			(23.8	)
Net goodwill balance		-			-			-			-		-			-

South America
Gross goodwill		15.1			(1.6	)		13.5			-		(1.3	)		12.2
Accumulated impairments		-			-			-			-		-			-
Net goodwill balance		15.1			(1.6	)		13.5			-		(1.3	)		12.2

Commercial Products
Gross goodwill		15.9			-			15.9			0.8		(0.7	)		16.0
Accumulated impairments		-			-			-			-		-			-
Net goodwill balance		15.9			-			15.9			0.8		(0.7	)		16.0

Total Company
Gross goodwill		64.9			(2.2	)		62.7			0.8		(2.3	)		61.2
Accumulated impairments		(33.4	)		0.6			(32.8	)		-		0.3			(32.5	)
Net goodwill balance	$	31.5		$	(1.6	)	$	29.9		$	0.8	$	(2.0	)	$	28.7

Goodwill is assessed for impairment by the Company annually or more frequently if events or circumstances change that would, more likely than not, reduce the fair value of a reporting unit below its carrying value. The Company conducted its annual assessment for goodwill impairment in the fourth quarter of fiscal 2013 by applying a fair value-based test and determined that the fair value of the Company's reporting units exceeded their respective book values. In fiscal 2012 and 2011, the fair value of the Company's reporting units also exceeded their respective book values.