Goodwill

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

GOODWILL

Our goodwill at December 31, 2018 and 2017 is related to our acquisitions. We evaluate each reporting unit’s fair value as compared to its carrying value on October 1st of each year or more frequently if events or changes in circumstances indicate that the carrying value may exceed the fair value. As of December 31, 2017, we evaluated each reporting unit's fair value as compared to its carrying value, and used step 1 of the quantitative goodwill impairment test, where the fair value of the reporting units was measured using a discounted cash flow model and incorporated discount rates commensurate with the risks involved for each reporting unit and a market approach. The key assumptions used in this discounted cash flow model include discount rates, growth rates, cash flow projections and terminal value rates. These rates were susceptible to change and required significant management judgment. The market approach relied on an analysis of publicly-traded companies similar to us and derived a range of revenue and profit multiples. The publicly-traded companies used in the market approach were selected based on our defined peer group. The resulting multiples were then applied to each reporting unit to determine fair value. As of October 1, 2018, we performed a qualitative assessment, on a reporting unit level, to determine whether the existence of events or circumstances lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. We did not identify any such event or circumstance at that time. Impairments to goodwill are charged against earnings in the period the impairment is identified.

We focus on five operating segments: 3D Manufacturing, Construction BIM, Public Safety Forensics, 3D Design, and Photonics. As of December 31, 2018 and 2017, we did not have any goodwill that was identified as impaired. The increase in goodwill during 2018 and 2017 reflected the acquisitions completed in those periods and changes in foreign exchange rates.

December 31, 2018	Beginning Balance		Additions		Foreign Currency Translation			Ending Balance
3D Manufacturing	$	40,802	$	—	$	(1,316	)	$	39,486
Construction BIM	6,521		1,010		(226		)	7,305
Public Safety Forensics	3,070		—		(107		)	2,963
3D Design	—		9,130		(180		)	8,950
Photonics	2,357		6,283		(70		)	8,570
Total	$	52,750	$	16,423	$	(1,899	)	$	67,274

December 31, 2017	Beginning Balance		Additions		Foreign Currency Translation		Ending Balance
3D Manufacturing	$	37,861	$	—	$	2,941	$	40,802
Construction BIM	6,078		—		443		6,521
Public Safety Forensics	2,805		55		210		3,070
3D Design	—		—		—		—
Photonics	—		2,357		—		2,357
Total	$	46,744	$	2,412	$	3,594	$	52,750