Goodwill is subject to at least an annual assessment for impairment by applying a fair value-based test. The Company completed its most recent annual assessment as of November 30, 2021 and identified no impairment as a result of the evaluation.

The changes in the carrying value of goodwill by reportable segment for the three months ended March 31, 2022 are as follows:


(in millions)	Retail			National Programs		Wholesale Brokerage		Services		Total
Balance as of December 31, 2021	$	2,987.2		$	1,089.9	$	488.4	$	171.3	$	4,736.8
Goodwill of acquired businesses		2.5			402.1		—		—		404.6
Goodwill disposed of relating to sales of businesses		—			—		—		—		—
Foreign currency translation adjustments during the year		(1.5	)		1.0		—		—		(0.5	)
Balance as of March 31, 2022	$	2,988.2		$	1,493.0	$	488.4	$	171.3	$	5,140.9