Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill

The table below summarizes the changes in the carrying amount of goodwill by reportable segment:   

	Corporate Finance & Restructuring		FLC		Economic Consulting		Technology		Strategic Communications		Total
Balance at December 31, 2019
Goodwill	$	478,842	$	232,120	$	268,677	$	96,770	$	320,497	$	1,396,906
Accumulated goodwill impairment	—		—		—		—		(194,139)		(194,139)
Goodwill, net at December 31, 2019	478,842		232,120		268,677		96,770		126,358		1,202,767
Acquisitions	20,532		—		—		—		—		20,532
Foreign currency translation adjustment and other	2,300		(600)		(7)		(29)		(1,199)		465
Balance at September 30, 2020
Goodwill	501,674		231,520		268,670		96,741		319,298		1,417,903
Accumulated goodwill impairment	—		—		—		—		(194,139)		(194,139)
Goodwill, net at September 30, 2020	$	501,674	$	231,520	$	268,670	$	96,741	$	125,159	$	1,223,764

During the three months ended September 30, 2020, we acquired a strategy consulting and investment banking business that was assigned to the Corporate Finance & Restructuring ("Corporate Finance") segment. We recorded $20.5 million in goodwill based on a preliminary purchase price allocation as a result of the acquisition. We have included the results of the acquired business’s operations in the Corporate Finance segment since its acquisition date.

Other Intangible Assets

Other intangible assets were as follows:  

	September 30, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizing intangible assets
Customer relationships (1)	$	110,502	$	82,343	$	28,159	$	99,613	$	76,808	$	22,805
Trademarks (1)	11,401		2,108		9,293		9,855		653		9,202
Acquired software and other	3,537		2,437		1,100		3,386		2,061		1,325
	125,440		86,888		38,552		112,854		79,522		33,332
Non-amortizing intangible assets
Trademarks	5,100		—		5,100		5,100		—		5,100
Total	$	130,540	$	86,888	$	43,652	$	117,954	$	79,522	$	38,432

(1) During the three months ended September 30, 2020, we acquired a strategy consulting and investment banking business, and its related intangible assets were assigned to the Corporate Finance segment.

Other intangible assets with finite lives are amortized over their estimated useful lives. We recorded amortization expense of $2.8 million and $7.4 million for the three and nine months ended September 30, 2020, respectively, and $2.1 million and $5.8 million for the three and nine months ended September 30, 2019, respectively.

We estimate our future amortization expense for our intangible assets with finite lives to be as follows: 

Year	As of September 30, 2020 (1)
2020 (remaining)	$	2,792
2021	10,642
2022	8,519
2023	4,821
2024	3,388
Thereafter	8,390
	$	38,552

(1)Actual amortization expense to be reported in future periods could differ from these estimates because of new intangible asset acquisitions, impairments, changes in useful lives, or other relevant factors or changes.