Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

9.	GOODWILL AND OTHER INTANGIBLE ASSETS

The components of goodwill and other intangible assets at September 30, 2020 and December 31, 2019 are presented below:

	September 30,		December 31,
	2020		2019
Goodwill	$	373,195	$	371,773
Other intangible assets (net of accumulated amortization)		646		1,821
	$	373,841	$	373,594

At September 30, 2020 and December 31, 2019, goodwill of $308,654 and $307,232, 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, 2020 and 2019 are as follows:

	Nine Months Ended
	September 30,
	2020		2019
Balance, January 1	$	371,773	$	371,561
Foreign currency translation adjustments		1,422		(4,669	)
Balance, September 30	$	373,195	$	366,892

All changes in the carrying amount of goodwill for the nine month periods ended September 30, 2020 and 2019 are attributable to the Company’s Financial Advisory segment.

The gross cost and accumulated amortization of other intangible assets as of September 30, 2020 and December 31, 2019, by major intangible asset category, are as follows:

	September 30, 2020						December 31, 2019
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/incentive fees	$	35,271	$	34,896	$	375	$	35,338	$	33,840	$	1,498
Management fees, customer relationships and non-compete agreements		34,965		34,694		271		34,788		34,465		323
	$	70,236	$	69,590	$	646	$	70,126	$	68,305	$	1,821

Amortization expense of intangible assets, included in “amortization and other acquisition-related costs” in the condensed consolidated statements of operations, for the three month and nine month periods ended September 30, 2020 was $458 and $1,359, respectively, and for the three month and nine month periods ended September 30, 2019 was $1,095 and $1,957, respectively. Estimated future amortization expense is as follows:

Year Ending December 31,	Amortization Expense
2020 (October 1 through December 31)	$	436
2021		60
2022		60
2023		60
2024		30
Total amortization expense	$	646