Goodwill and Intangibles Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents changes in goodwill assigned to the Investment Management reportable segment.

	Year Ended December 31,
(In thousands)	2023		2022
Beginning balance	$	298,248	$	298,248
Business combination (Note 3)	167,743		—
Ending balance (1)	$	465,991	$	298,248

__________

(1)    Remaining goodwill deductible for income tax purposes was $111.8 million at December 31, 2023 and $122.4 million at December 31, 2022.

Schedule of Deferred Leasing Costs and Other Intangibles

Investment management intangible assets are composed of the following:

	December 31, 2023						December 31, 2022
(In thousands)	Carrying Amount (1)(2)		Accumulated Amortization(1)(2)		Net Carrying Amount(1)		Carrying Amount (1)		Accumulated Amortization(1)		Net Carrying Amount(1)
Investment management contracts	$	150,835	$	(84,824)	$	66,011	$	126,868	$	(68,739)	$	58,129
Investor relationships	53,572		(19,190)		34,382		37,321		(13,693)		23,628
Trade name	4,300		(1,907)		2,393		4,300		(1,476)		2,824
Other (3)	1,518		(554)		964		1,518		(401)		1,117
	$	210,225	$	(106,475)	$	103,750	$	170,007	$	(84,309)	$	85,698

__________

(1)    Presented net of impairments and write-offs, if any.

(2)    Exclude intangible assets that were fully amortized in prior years.

(3)    Represents primarily the value of an acquired domain name.

Schedule of Amortization of Intangible Assets and Liabilities

The following table summarizes amortization of finite-lived intangible assets:

	Year Ended December 31,
(In thousands)	2023		2022		2021
Investment management contracts	$	28,512	$	16,741	$	21,773
Investor relationships	5,474		4,256		4,256
Trade name	430		430		15,904
Other	152		152		114
	$	34,568	$	21,579	$	42,047

Schedule of Estimated Annual Amortization Expense

The following table presents the expected future amortization of finite-lived intangible assets.

	Year Ending December 31,
(In thousands)	2024		2025		2026		2027		2028		2029 and thereafter		Total
Investment management contracts	$	24,739	$	19,049	$	11,449	$	6,460	$	3,480	$	834	$	66,011
Investor relationships	5,610		5,610		5,610		4,945		3,830		8,777		34,382
Trade name	430		430		430		430		430		243		2,393
Other	152		152		152		152		152		204		964
	$	30,931	$	25,241	$	17,641	$	11,987	$	7,892	$	10,058	$	103,750