| NOTE 11:- | GOODWILL |
The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2017 were as follows:
| Balance as of January 1, 2016 | $ | 441,021 | |||
| Acquisition of subsidiaries | 51,049 | *) | |||
| Classifications | 389 | ||||
| Foreign currency translation adjustments | 2,903 | *) | |||
| Balance as of December 31, 2016 | 495,362 | ||||
| Acquisition of subsidiaries | 94,851 | ||||
| Classifications | 1,105 | ||||
| Foreign currency translation adjustments | 25,954 | ||||
| Balance as of December 31, 2017 | $ | 617,272 |
| *) | Adjustment to comparative data |
The Company performed annual impairment tests during the fourth quarter of 2017 and did not identify any impairment losses (See Note 2(21)).