Goodwill

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

The changes in the carrying amount of goodwill for the year ended December 31, 2022 are as follows (in thousands):

	North America		EMEA		APAC		Consolidated
Goodwill	$	720,240	$	163,011	$	20,732	$	903,983
Accumulated impairment losses	(323,422)		(151,439)		(13,973)		(488,834)
Goodwill acquired during 2021	—		4,865		—		4,865
Measurement period adjustments during 2021	5,711		(677)		—		5,034
Foreign currency translation adjustment	1,062		1,975		261		3,298
Balance at December 31, 2021	$	403,591	$	17,735	$	7,020	$	428,346
Goodwill acquired during 2022	69,923		—		—		69,923
Foreign currency translation adjustment	(2,991)		(1,748)		(497)		(5,236)
Balance at December 31, 2022	$	470,523	$	15,987	$	6,523	$	493,033

On June, 1, 2022 we acquired Hanu, which has been integrated into our North America business. Under the acquisition method of accounting, the preliminary purchase price for the acquisition was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. The excess purchase price over fair value of net assets acquired of approximately $69,923,000 was recorded as goodwill in the North America reporting unit.

On February 28, 2020, we acquired vNext, which has been integrated into our EMEA business. Under the acquisition method of accounting, the purchase price for the acquisition was

allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. The excess purchase price over fair value of net assets acquired was recorded as goodwill in the EMEA reporting unit. The primary driver for this acquisition was to strengthen our capacity to deliver consulting and implementation services to support clients’ digital transformation initiatives.

During 2022, we periodically assessed whether any indicators of impairment existed which would require us to perform an interim impairment review. As of each interim period end during the year, we concluded that a triggering event had not occurred that would more likely than not reduce the fair value of our reporting units below their carrying values. We performed our annual test of goodwill for impairment during the fourth quarter of 2022. The results of the qualitative goodwill impairment test indicated that the fair values of our North America, EMEA and APAC reporting units were in excess of their respective carrying values.