| | 2017 | | 2016 | | 2015 | | |||
Balances at beginning of the year | | $ | 484,877 | | | 454,295 | | | 349,764 | |
Business combinations (Note 4) | | | 1,042,163 | | | - | | | 123,933 | |
Goodwill impairment loss | | | - | | | - | | | (38,619) | |
Foreign currency effects | | | 104,054 | | | 30,582 | | | 19,217 | |
Balances at end of year | | $ | 1,631,094 | | | 484,877 | | | 454,295 | |