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Goodwill
6 Months Ended
Jun. 30, 2011
Goodwill  
Goodwill

(4) Goodwill

 

The changes in the carrying amount of goodwill during the six months ended June 30, 2011 are as follows (in millions):

 

 

 

Communications
Segment

 

Coal
Mining
Segment

 

Total

 

 

 

 

 

 

 

 

 

Balance at December 31, 2010

 

$

1,427

 

$

 

$

1,427

 

Effect of foreign currency rate change

 

2

 

 

2

 

Balance at June 30, 2011

 

$

1,429

 

$

 

$

1,429

 

 

Effective January 1, 2011, the Company adopted new accounting guidance that requires entities with goodwill assigned to reporting units with negative carrying value to perform an allocated fair value test of goodwill impairment if certain qualitative factors indicate that such goodwill could be impaired.  Based on its qualitative assessment as of January 1, 2011, the Company determined the test was not required. Furthermore, there were no events or changes in circumstances during the first six months of 2011 that indicated the carrying value of goodwill may not be recoverable.