Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

7. Goodwill and Intangible Assets

Goodwill and intangible assets with indefinite lives were $154.8 million and $147.4 million as of December 31, 2021 and 2020, respectively. The $7.4 million increase reflects goodwill recognized as part of the acquisition of MuniBrokers LLC. Intangible assets that are subject to amortization, including the related accumulated amortization, are comprised of the following:

	December 31, 2021							December 31, 2020
	Cost		Accumulated amortization			Net carrying amount		Cost		Accumulated amortization			Net carrying amount
	(In thousands)
Customer relationships	$	132,196	$	(19,813	)	$	112,384	$	102,696	$	(7,369	)	$	95,327
Technology and other intangibles		11,430		(7,437	)		3,993		6,550		(6,523	)		27
Total	$	143,626	$	(27,250	)	$	116,377	$	109,246	$	(13,892	)	$	95,354

Amortization expense associated with identifiable intangible assets was $13.4 million, $3.9 million and $0.8 million for the years ended December 31, 2021, 2020 and 2019, respectively. Annual estimated total amortization expense is $16.8 million, $17.6 million, $15.2 million, $12.3 million and $10.6 million for 2022 through 2026.