Annual report pursuant to Section 13 and 15(d)

Goodwill

v3.23.1
Goodwill
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
Note I – Goodwill

The changes in the carrying amount of goodwill were as follows:
Balance of goodwill as of December 31, 2020
 $ 52,711 
Goodwill arising from the Oakman acquisition
 6,866 
Goodwill arising from the DPSS acquisition
 10,904 
Goodwill arising from the Techshot acquisition 26,521 
Measurement period adjustment — DSS acquisition
 (85)
Measurement period adjustment — MIS acquisition
 (512)
Measurement period adjustment — Roccor acquisition
 (684)
Measurement period adjustment — DPSS acquisition
 350 
Measurement period adjustment — Oakman acquisition 1,917 
Measurement period adjustment — LoadPath acquisition (1,427)
Change arising from impact of foreign currency
 (247)
Balance of goodwill as of December 31, 2021
 $ 96,314 
Goodwill arising from the Space NV acquisition
 17,313 
Impairment expense (49,916)
Change arising from impact of foreign currency
 907 
Balance of goodwill as of December 31, 2022
 $ 64,618 

During the year ended December 31, 2022, the Company recognized impairment expense of $96.6 million, of which $49.9 million related to goodwill on the Mission Solutions reporting unit. Please refer to Note T for additional information related to this impairment.

As of December 31, 2022, the Company’s gross goodwill balance and accumulated impairment was $114.5 million and $49.9 million, respectively. In comparison, the Company’s goodwill balance was $96.3 million with no accumulated impairment as of December 31, 2021.