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various mutual funds. The fair value of deferred compensation is based on the mutual fund investments elected by the executives and on quoted prices in active markets for identical assets. 

## Assets Measured and Recorded at Fair Value on a Non-Recurring Basis 

Certain non-financial assets, such as goodwill, other intangible assets, property, plant and equipment and certain investments, that were part of operations that have been classified as discontinued operations are only recorded at fair value if an impairment charge is recognized. We classified all of these measurements as Level 3, as we used unobservable inputs within the valuation methodologies that were significant to the fair value measurements, and the valuations required management‘s judgment due to the absence of quoted market prices. The following tables present non-financial assets that were measured and recorded at fair value on a non-recurring basis and the total impairment losses recorded during 2014, 2013 and 2012 on those assets. 

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(1) Impairment losses related to Madison are included within GLYPH<147>(Loss)/income from joint venturesGLYPH<148> for the year ended DecemberGLYPH<160>28, 2014. See Note 5 for additional information. 

The impairment of assets in 2014 reflects the impairment of one of our investments in joint ventures, Madison Paper Industries. During the fourth quarter of 2014, we estimated the fair value less cost to sell of the group held for sale, using unobservable inputs (Level 3). We recorded a $9.2 million non-cash charge in the fourth quarter of 2014. Our proportionate share of the loss was $4.7 million after tax and adjusted for the allocation of the loss to the non- controlling interest. 

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(1) Impairment losses related to the New England Media Group and are included within GLYPH<147>(Loss)/income from discontinued operations, net of income taxesGLYPH<148> for the year ended DecemberGLYPH<160>29, 2013. We sold the New England Media Group in the fourth quarter of 2013. See Note 13 for additional information. 

The impairment of assets in 2013 reflects the impairment of fixed assets held for sale that related to the New England Media Group. During the third quarter of 2013, we estimated the fair value less cost to sell of the group held for sale, using unobservable inputs (Level 3). We recorded a $34.3 million non-cash charge in the third quarter of 2013 for fixed assets at the New England Media Group to reduce the carrying value of fixed assets to their fair value less costs to sell. 

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$_{(1)}$ Impairment losses related to the About Group and are included within GLYPH<147>(Loss)/income from discontinued operations, net of income taxesGLYPH<148> for the year ended DecemberGLYPH<160>30, 2012. We sold the About Group in September 2012. See Note 13 for additional information. 

The impairment charge totaling $194.7 million in the preceding table was related to goodwill at the About Group in the second quarter of 2012, which reduced the carrying value to its fair value. Goodwill is not amortized but tested for impairment annually or in an interim period if certain circumstances indicate a possible impairment may exist. Our policy is to perform our annual goodwill impairment test in the fourth quarter of our fiscal year. However, 

