Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net are summarized as follows:



	December 31,
	2017			2016
($ in thousands)
Definite-lived intangible assets, net:
Investment contracts	$	425,747		$	158,747
Accumulated amortization	(167,309		)	(155,136		)
Definite-lived intangible assets, net	258,438			3,611
Indefinite-lived intangible assets	43,516			34,816
Total intangible assets, net	$	301,954		$	38,427

Activity in goodwill and intangible assets, net is as follows:



	Years Ended December 31,
	2017			2016			2015
($ in thousands)
Intangible assets, net
Balance, beginning of period	$	38,427		$	40,887		$	41,783
Acquisitions (1)	275,700			—			2,400
Amortization expense	(12,173		)	(2,460		)	(3,296		)
Balance, end of period	$	301,954		$	38,427		$	40,887
Goodwill
Balance, beginning of period	$	6,788		$	6,701		$	5,260
Acquisition (1)	163,365			—			1,441
Acquisition related adjustments	—			87			—
Balance, end of period	$	170,153		$	6,788		$	6,701

(1) - See Note 3 for details on the acquired intangible assets.

Definite-lived intangible asset amortization for the next five years is estimated as follows: 2018—$20.1 million, 2019—$20.0 million, 2020—$19.9 million, 2021—$19.9 million, 2022—$19.7 million, and thereafter—$158.8 million. At December 31, 2017, the weighted average estimated remaining amortization period for definite-lived intangible assets is 13.7 years.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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