Note 15:

Goodwill

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

	VTS		CIS			BHVAC			Total
Balance, March 31, 2017	$	0.5	$	150.9		$	13.7		$	165.1
Acquired goodwill (a)		-		1.3			-			1.3
Effect of exchange rate changes		-		6.1			1.3			7.4
Balance, March 31, 2018		0.5		158.3			15.0			173.8
Effect of exchange rate changes		-		(4.4	)		(0.9	)		(5.3	)
Balance, March 31, 2019	$	0.5	$	153.9		$	14.1		$	168.5

(a)

Represents measurement-period adjustments related to the Company’s acquisition of Luvata HTS. See Note 2 for additional information about this acquisition.

The Company assesses goodwill for impairment 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 during the fourth quarter of fiscal 2019 for the reporting units within its VTS, CIS, and BHVAC segments, by applying a fair value-based test, and determined that the fair value of its reporting units exceeded their respective book values.

At both March 31, 2019 and 2018, accumulated goodwill impairment losses totaled $40.3 million within the VTS segment.