Goodwill and Intangibles

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles

Note 10. Goodwill and Intangibles

Changes in goodwill for the six months ended June 30, 2022 is as follows:

Balance at December 31, 2021	$	418,701
Purchase price adjustment		(11	)
Increase from acquisitions		-
Balance at June 30, 2022	$	418,690

Intangibles consists of the following:

	As of June 30, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Indefinite-lived intangible assets:
Trade names	$	17,350	$	—		$	17,350
Technology		30		—			30
Total indefinite-lived intangible assets		17,380		—			17,380
Finite-lived intangible assets:
Trade names		21,440		(2,589	)		18,851
Management and advisory contracts		151,166		(72,189	)		78,977
Technology		2,298		(965	)		1,333
Total finite-lived intangible assets		174,904		(75,743	)		99,161
Total intangible assets	$	192,284	$	(75,743	)	$	116,541

	As of December 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Indefinite-lived intangible assets:
Trade names	$	17,350	$	—		$	17,350
Technology		30		—			30
Total indefinite-lived intangible assets		17,380		—			17,380
Finite-lived intangible assets:
Trade names		21,440		(1,785	)		19,655
Management and advisory contracts		151,166		(60,934	)		90,232
Technology		8,160		(6,639	)		1,521
Total finite-lived intangible assets		180,766		(69,358	)		111,408
Total intangible assets	$	198,146	$	(69,358	)	$	128,788

Management and advisory contracts and finite lived trade names are amortized over 7 - 16 years and are being amortized in line with pattern in which the economic benefits that are expected to occur. Technology is amortized on a straight-line basis over 4 years. The amortization expense for each of the next five years and thereafter are as follows:

Remainder of 2022	$	12,320
2023		21,155
2024		17,590
2025		13,807
2026		10,878
Thereafter		23,411
Total amortization	$	99,161