Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS AND GOODWILL

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ACQUISITIONS AND GOODWILL
12 Months Ended
Dec. 31, 2017
Business Acquisitions and Goodwill [Abstract]  
ACQUISITIONS AND GOODWILL
ACQUISITIONS AND GOODWILL
Goodwill. In recent years, we entered new markets through the acquisition of the homebuilding assets and operations of local/regional homebuilders in Georgia, South Carolina and Tennessee. The acquisitions were recorded in accordance with ASC 805, Business Combinations ("ASC 805") and ASC 820, using the acquisition method of accounting. The purchase price for the acquisitions were allocated based on estimated fair value of the assets and liabilities at the date of the acquisition. The combined excess purchase price over the fair value of the net assets of $33.0 million was recorded as goodwill, which is included in our consolidated balance sheet in Prepaids, other assets and goodwill. In accordance with ASC 350, we assess the recoverability of goodwill annually, or more frequently, if impairment triggers are present. Our analysis concluded that our goodwill balance was not impaired.
A summary of changes in the carrying amount of goodwill follows (in thousands):    
 
West
 
Central
 
East
 
Financial Services
 
Corporate
 
Total
Balance at January 1, 2016
$

 
$

 
$
32,962

 
$

 
$

 
$
32,962

Additions

 

 

 

 

 

Balance at December 31, 2016

 

 
32,962

 

 

 
32,962

Additions

 

 

 

 

 

Balance at December 31, 2017
$

 
$

 
$
32,962

 
$

 
$

 
$
32,962