Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Intersegment Balances

(in thousands)	Advisory		Trust		Westwood Holdings		Eliminations		Consolidated
Year Ended December 31, 2022
Revenues:
Net fee revenues from external sources	$	47,703	$	21,686	$	—	$	—	$	69,389
Net intersegment revenues	2,080		336		—		(2,416)		—
Other revenue	(708)		—		—		—		(708)
Total revenues	49,075		22,022		—		(2,416)		68,681
Expenses:
Depreciation and amortization	394		1,603		579		—		2,576
Other operating expenses	33,249		18,336		21,809		(2,416)		70,978
Total expenses	33,643		19,939		22,388		(2,416)		73,554
Net change in unrealized appreciation on private investments	(640)		(460)		(395)		—		(1,495)
Investment income	310		(44)		—		—		266
Other income	—		—		907		—		907
Income (loss) before income taxes	15,102		1,579		(21,876)		—		(5,195)
Income tax expense (benefit)	4,040		574		(5,181)		—		(567)
Net income (loss)	$	11,062	$	1,005	$	(16,695)	$	—	$	(4,628)
Segment assets	$	283,027	$	53,644	$	30,308	$	(220,552)	$	146,427
Segment goodwill	$	19,331	$	16,401	$	—	$	—	$	35,732
Expenditures for long-lived assets	$	137	$	84	$	99	$	—	$	320
Year Ended December 31, 2021
Revenues:
Net fee revenues from external sources	$	49,262	$	24,131	$	—	$	—	$	73,393
Net intersegment revenues	2,415		356		—		(2,771)		—
Other revenue	(339)		—		—				(339)
Total revenues	51,338		24,487		—		(2,771)		73,054
Expenses:
Depreciation and amortization	167		1,614		615		—		2,396
Other operating expenses	33,249		18,092		16,129		(2,771)		64,699
Total expenses	33,416		19,706		16,744		(2,771)		67,095
Realized gains on private investments	3,524		2,731		2,116		—		8,371
Net change in unrealized appreciation (depreciation) on private investments	(757)		(587)		(453)		—		(1,797)
Investment income	875		(7)		—		—		868
Other income	—		—		602		—		602
Income (loss) before income taxes	21,564		6,918		(14,479)		—		14,003
Income tax expense (benefit)	4,784		1,262		(1,806)		—		4,240

(in thousands)	Advisory		Trust		Westwood Holdings		Eliminations		Consolidated
Net income (loss)	$	16,780	$	5,656	$	(12,673)	$	—	$	9,763
Segment assets	$	222,335	$	56,965	$	12,784	$	(152,479)	$	139,605
Segment goodwill	$	—	$	16,401	$	—	$	—	$	16,401
Expenditures for long-lived assets	$	66	$	61	$	51	$	—	$	178
Year Ended December 31, 2020
Revenues:
Net fee revenues from external sources	$	40,836	$	23,929	$	—	$	—	$	64,765
Net intersegment revenues	2,338		263		—		(2,601)		—
Net interest and dividend revenue	35		—		—		—		35
Other revenue	311		—		—		—		311
Total revenues	43,520		24,192		—		(2,601)		65,111
Expenses:
Depreciation and amortization	322		1,656		664		—		2,642
Impairment expense	3,403		—		—		—		3,403
Other operating expenses	34,675		17,398		13,041		(2,601)		62,513
Total expenses	38,400		19,054		13,705		(2,601)		68,558
Net change in unrealized appreciation (depreciation) on private investments	(311)		(222)		(178)		—		(711)
Investment income	552		52		—		—		604
Other income	—		—		135		—		135
Income before income taxes	5,361		4,968		(17,917)		—		(7,588)
Income tax expense (benefit)	3,456		1,977		(4,074)		—		1,359
Net income (loss)	$	1,905	$	2,991	$	(13,843)	$	—	$	(8,947)
Segment assets	$	204,827	$	54,749	$	17,247	$	(127,671)	$	149,152
Segment goodwill	$	—	$	16,401	$	—	$	—	$	16,401
Expenditures for long-lived assets	$	20	$	24	$	49	$	—	$	93