Intangibles Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles Assets

4. Intangible Assets

Intangible assets are composed of the following:

	December 31, 2025						December 31, 2024
(In thousands)	Carrying Amount (1)(2)		Accumulated Amortization(1)(2)		Net Carrying Amount(1)		Carrying Amount (1)(2)		Accumulated Amortization(1)(2)		Net Carrying Amount(1)
Investment management contracts	$	139,682	$	(117,342)	$	22,340	$	138,494	$	(97,371)	$	41,123
Investor relationships	54,497		(30,634)		23,863		53,322		(24,761)		28,561
Trade name	4,300		(2,769)		1,531		4,300		(2,337)		1,963
Other (3)	1,518		(857)		661		1,518		(705)		813
	$	199,997	$	(151,602)	$	48,395	$	197,634	$	(125,174)	$	72,460

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(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.

Amortization expense for finite-lived intangible assets totaled $25.6 million, $31.0 million and $34.6 million for the years ended December 31, 2025, 2024 and 2023, respectively. There was no impairment of identifiable intangible assets in the periods presented.

Future Amortization of Intangible Assets

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

	Year Ending December 31,
(In thousands)	2026		2027		2028		2029		2030		2031 and thereafter		Total
Amortization expense	$	17,836	$	12,064	$	7,969	$	3,156	$	1,493	$	5,877	$	48,395