Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Components of Goodwill and Other Intangible Assets

The components of goodwill and other intangible assets at September 30, 2014 and December 31, 2013 are presented below:

	September 30,		December 31,
	2014		2013
Goodwill	$	343,776	$	345,453
Other intangible assets (net of accumulated amortization)		12,478		18,424
	$	356,254	$	363,877

Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the nine month periods ended September 30, 2014 and 2013 are as follows:

	Nine Months  Ended September 30,
	2014			2013
Balance, January 1	$	345,453		$	364,328
Business acquisitions		3,232			1,601
Foreign currency translation adjustments		(4,909	)		(15,310	)
Balance, September 30	$	343,776		$	350,619

Gross Cost and Accumulated Amortization of Other Intangible Assets

The gross cost and accumulated amortization of other intangible assets as of September 30, 2014 and December 31, 2013, by major intangible asset category, are as follows:

	September 30, 2014						December 31, 2013
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Performance fees	$	30,740	$	21,116	$	9,624	$	30,740	$	17,173	$	13,567
Management fees, customer relationships and non-compete agreements		33,063		30,209		2,854		33,063		28,206		4,857
	$	63,803	$	51,325	$	12,478	$	63,803	$	45,379	$	18,424

Estimated Future Amortization Expense

Amortization expense of intangible assets for the three month and nine month periods ended September 30, 2014 was $4,020 and $5,946, respectively, and for the three month and nine month periods ended September 30, 2013 was $877 and $2,758, respectively. Estimated future amortization expense is as follows:

Year Ending December 31,	Amortization Expense (a)
2014 (October 1 through December 31)	$	864
2015		6,433
2016		5,181
Total amortization expense	$	12,478

(a) Approximately 46% of intangible asset amortization is attributable to a noncontrolling interest.