NOTE 8 – GOODWILL

As of June 30, 2024, changes in the carrying amount of goodwill during the period presented were as follows:

Goodwill is assigned to the reporting unit, which is the operating segment level or one level below the operating segment. The Company conducts its annual goodwill impairment assessment on November 1, and between annual tests if the Company becomes aware of an event or a change in circumstances that would indicate the carrying value may be impaired. For the purpose of the goodwill impairment assessment, the Company has the option to perform a qualitative assessment (commonly referred to as “step zero”) to determine whether further quantitative analysis for impairment of goodwill or indefinite-lived intangible assets is necessary (“step one”). The balance of goodwill at  June 30, 2024 and  December 31, 2023 was $16.27 million and $0.0 million, respectively.

Refer to "Note 9 – Business Combinations" for goodwill acquired during the six months ended June 30, 2024.