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Goodwill
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
Note 6. Goodwill

Goodwill activity consisted of the following for the three months ended March 31, 2024 (in thousands):
Balance at December 31, 2023
$927,431 
Impairment
(3,447)
Transfer to held for sale
(2,971)
Effect of foreign currency exchange rate changes(3,304)
Balance at March 31, 2024
$917,709 
In connection with the definitive sale and purchase agreements to sell our fitness solutions, we tested the goodwill balance for impairment as of March 31, 2024 (see Note 4. Disposition and Held for Sale). During the three months ended March 31, 2024, we recognized a $3.4 million goodwill impairment charge representing the allocated goodwill to North American Fitness, which is included in loss on held for sale and impairments on the unaudited condensed consolidated statements of operations and comprehensive loss. There has been no other impairment of goodwill.