Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill

Goodwill at December 31, 2020 was $142.7 million, comprised of revenue generating synergies from our acquisition of SVB Leerink in 2019 as well as our acquisition of WRG's debt fund business in December 2020.

The changes in goodwill were as follows for the year ended December 31, 2020 and 2019:

(Dollars in thousands)	Goodwill
Beginning balance at December 31, 2018	$	—
Acquisitions	137,823
Ending balance at December 31, 2019	$	137,823
Acquisitions	4,862
Ending balance at December 31, 2020	$	142,685

During 2020, we completed our annual goodwill impairment test as of September 30, 2020, as a result, we determined there was no impairment as of December 31, 2020. For more information on our annual impairment policies, see Note 2—“Summary of Significant Accounting Policies."

Other Intangible Assets

The following table presents the gross carrying amount and accumulated amortization of other intangible assets as of December 31, 2020 and 2019:

	December 31, 2020						December 31, 2019
(Dollars in thousands)	Gross Amount		Accumulated Amortization		Net Carrying Amount		Gross Amount		Accumulated Amortization		Net Carrying Amount
Other intangible assets:
Customer relationships	$	42,000	$	7,636	$	34,364	$	42,000	$	3,818	$	38,182
Other	36,300		9,229		27,071		18,900		7,665		11,235
Total other intangible assets, net	$	78,300	$	16,865	$	61,435	$	60,900	$	11,483	$	49,417

For the year ended December 31, 2020, we recorded amortization expense of $5.4 million. Assuming no future impairments of other intangible assets or additional acquisitions or dispositions, the following table presents the Company's future expected amortization expense for other intangible assets that will continue to be amortized as of December 31, 2020:

Years ended December 31, (Dollars in thousands)	Other Intangible Assets
2021	$	8,217
2022	8,141
2023	8,141
2024	8,141
2025	6,900
2026 and thereafter	21,895
Total future amortization expense	$	61,435