Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

10.	GOODWILL AND OTHER INTANGIBLE ASSETS

The components of goodwill and other intangible assets at September 30, 2019 and December 31, 2018 are presented below:

	September 30,		December 31,
	2019		2018
Goodwill	$	366,892	$	371,561
Other intangible assets (net of accumulated amortization)		2,104		3,757
	$	368,996	$	375,318

At September 30, 2019 and December 31, 2018, goodwill of $302,351 and $307,020, respectively, was attributable to the Company’s Financial Advisory segment and, at each such respective date, $64,541 of goodwill was attributable to the Company’s Asset Management segment.

Changes in the carrying amount of goodwill for the nine month periods ended September 30, 2019 and 2018 are as follows:

	Nine Months Ended
	September 30,
	2019			2018
Balance, January 1	$	371,561		$	385,292
Foreign currency translation adjustments		(4,669	)		(10,298	)
Balance, September 30	$	366,892		$	374,994

All changes in the carrying amount of goodwill for the nine month periods ended September 30, 2019 and 2018 are attributable to the Company’s Financial Advisory segment.

The gross cost and accumulated amortization of other intangible assets as of September 30, 2019 and December 31, 2018, by major intangible asset category, are as follows:

	September 30, 2019						December 31, 2018
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/incentive fees	$	35,295	$	33,547	$	1,748	$	35,232	$	32,235	$	2,997
Management fees, customer relationships and non-compete agreements		34,782		34,426		356		34,474		33,714		760
	$	70,077	$	67,973	$	2,104	$	69,706	$	65,949	$	3,757

Amortization expense of intangible assets, included in “amortization and other acquisition-related (benefits) costs” in the condensed consolidated statements of operations, for the three month and nine month periods ended September 30, 2019 was $1,095 and $1,957, respectively, and for the three month and nine month periods ended September 30, 2018 was $856 and $2,552, respectively. Estimated future amortization expense is as follows:

Year Ending December 31,	Amortization Expense
2019 (October 1 through December 31)	$	284
2020		1,610
2021		60
2022		60
2023		60
Thereafter		30
Total amortization expense	$	2,104