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GOODWILL AND OTHER INTANGIBLE ASSETS
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill was $523,997 and $512,595 as of March 31, 2023 and December 31, 2022, respectively.
The changes in the carrying amount of goodwill for the three months ended March 31, 2023 were as follows:
Capital
Markets
Segment
Wealth
Management
Segment
Auction and
Liquidation
Segment
Financial
Consulting
Segment
Communications
Segment
Consumer SegmentAll OtherTotal
Balance as of December 31, 2022
$162,018 $51,195 $1,975 $23,680 $193,195 $75,753 $4,779 $512,595 
Acquisition of other business— — — 7,273 — — 2,428 9,701 
Other— — — 36 (1,101)2,766 — 1,701 
Balance as of March 31, 2023
$162,018 $51,195 $1,975 $30,989 $192,094 $78,519 $7,207 $523,997 
During the three months ended March 31, 2023, the changes in goodwill included $36 of foreign currency translation amounts, $(1,101) of working capital settlements as described in Note 4, and $2,766 related to certain purchase price accounting adjustments.
Intangible assets consisted of the following:
As of March 31, 2023
As of December 31, 2022
Useful LifeGross Carrying ValueAccumulated AmortizationIntangibles NetGross Carrying ValueAccumulated AmortizationIntangibles Net
Amortizable assets:
Customer relationships
1.0 to 16 Years
$270,511 $(94,872)$175,639 $268,253 $(87,049)$181,204 
Domain names7 years185 (176)185 (169)16 
Advertising relationships8 years100 (84)16 100 (81)19 
Internally developed software and other intangibles
0.5 to 5 Years
28,295 (14,522)13,773 28,295 (12,714)15,581 
Trademarks
3 to 10 Years
21,532 (5,185)16,347 23,309 (6,307)17,002 
Total320,623 (114,839)205,784 320,142 (106,320)213,822 
Non-amortizable assets:      
Tradenames160,276 — 160,276 160,276 — 160,276 
Total intangible assets$480,899 $(114,839)$366,060 $480,418 $(106,320)$374,098 
Amortization expense was $10,473 and $6,816 during the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, estimated future amortization expense was $23,998, $26,786, $22,198, $18,897, and $26,132 for the three months ended March 31, 2023 (remaining nine months), 2024, 2025, 2026 and 2027, respectively. The estimated future amortization expense after December 31, 2027 was $87,773.