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GOODWILL
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL GOODWILL
Goodwill is recorded when the consideration paid for an acquisition of a business exceeds the fair value of identifiable net tangible and intangible assets acquired.

The change in the carrying value of goodwill was as follows (in thousands):
Balance at December 31, 2021$519,276 
Acquisitions11,761,866 
Foreign currency translation adjustments(314,381)
Balance at December 31, 202211,966,761 
Acquisitions7,921 
Foreign currency translation adjustments77,351 
Impairment charge(132,313)
Balance at December 31, 2023$11,919,720 

As discussed further in Note 21, Segment and Geographical Information, the Company has two reportable segments, Square and Cash App. In the fourth quarter of 2023, the Company reorganized its business structure and moved the business activities and management of the Company's BNPL platform fully into Cash App. In connection with this reorganization, the Company reallocated the goodwill associated with the BNPL platform from Square to Cash App using the relative fair value approach. Additionally, the Company assessed goodwill for impairment for Square and Cash App immediately before and immediately after the reorganization and concluded that there was no goodwill impairment, as their estimated fair values exceeded their carrying values both immediately before and after the reorganization. The Company also performed a goodwill impairment testing of its other reporting units and recognized an impairment charge of 132.3 million related to TIDAL in the fourth quarter of 2023. The impairment charge was as a result of changes in TIDAL's strategic focus, including terminations of certain revenue arrangements and investment into new product areas. This charge was included within general and administrative expenses in the Company's statements of operations. The fair value of the TIDAL reporting unit was estimated using the income approach, which was based upon the present value of estimated future cash flows.
The change in the carrying value of goodwill allocated to the reportable segments was as follows (in thousands):
Cash AppSquareCorporate and OtherTotal
Balance at December 31, 2021$128,334 $193,057 $197,885 $519,276 
Acquisitions5,882,133 5,879,733 — 11,761,866 
Foreign currency translation adjustments(157,537)(156,844)— (314,381)
Balance at December 31, 20225,852,930 5,915,946 197,885 11,966,761 
Acquisitions— — 7,921 7,921 
Foreign currency translation adjustments77,351 — — 77,351 
Reallocation between segments (i)
720,847 (720,847)— — 
Impairment charge— — (132,313)(132,313)
Balance at December 31, 2023$6,651,128 $5,195,099 $73,493 $11,919,720 

(i) Represents effects of the reallocation of goodwill due to the reorganization of the Company's business structure in the fourth quarter of 2023.

The Company performed its annual goodwill impairment assessment as of December 31, 2023 and concluded no additional goodwill impairment should be recognized. For purposes of completing the impairment test, the Company performs either a qualitative or a quantitative analysis on a reporting unit basis.