Rollins, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

GOODWILL

GOODWILL

12 Months Ended

Dec. 31, 2022

7. GOODWILL

Goodwill represents the excess of the purchase price over the fair value of net assets of businesses acquired. The carrying amount of goodwill was $846.7 million as of December 31, 2022 and $786.5 million as of December 31, 2021. Goodwill increased for the year ended December 31, 2022 primarily due to acquisitions. The carrying amount of goodwill in foreign countries was $97.4 million as of December 31, 2022 and $82.1 million as of December 31, 2021.

The changes in the carrying amount of goodwill for the twelve months ended December 31, 2022 and 2021 were as follows:


Goodwill:
Balance at December 31, 2020	$	717,861
Additions		69,264
Adjustments due to currency translation		(621)
Balance at December 31, 2021		786,504
Additions		64,997
Measurement adjustments		(9)
Adjustments due to currency translation		(4,788)
Balance at December 31, 2022	$	846,704

The carrying amount of goodwill as of December 31, 2021 and 2020 reflects the adjustment of $64,685 to correct prior periods. See Note 1, Basis of Presentation, for further information on the prior period adjustments recorded.