Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

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

	Corporate Finance (1)		FLC (1)		Economic Consulting (1)		Technology (1)		Strategic Communications (2)		Total
Balance at December 31, 2019	$	478,842	$	232,120	$	268,677	$	96,770	$	126,358	$	1,202,767
Acquisitions (3)	20,632		—		—		—		—		20,632
Foreign currency translation adjustment and other	6,598		1,254		410		51		3,167		11,480
Balance at December 31, 2020	$	506,072	$	233,374	$	269,087	$	96,821	$	129,525	$	1,234,879
Acquisitions (3)	—		5,493		—		—		—		5,493
Foreign currency translation adjustment and other	(5,026)		(938)		(229)		(10)		(1,378)		(7,581)
Balance at December 31, 2021	$	501,046	$	237,929	$	268,858	$	96,811	$	128,147	$	1,232,791

(1)There were no accumulated impairment losses for the Corporate Finance, FLC, Economic Consulting or Technology segments as of December 31, 2021, 2020 and 2019.

(2)Amounts for our Strategic Communications segment include gross carrying values of $322.3 million, $323.7 million and $320.5 million as of December 31, 2021, 2020 and 2019, respectively, and accumulated impairment losses of $194.1 million representing the aggregate impairment charges for the years ended December 31, 2021, 2020 and 2019.

(3)During the years ended December 31, 2021 and 2020, we acquired certain assets of businesses that were assigned to the FLC and Corporate Finance segments, respectively. We recorded $5.5 million and $20.6 million in goodwill as a result of the acquisitions in 2021 and 2020, respectively. We have included the results of the acquired businesses' operations in the FLC and Corporate Finance segments since the acquisition dates.

Intangible Assets

Intangible assets were as follows:

		December 31, 2021						December 31, 2020
	Weighted Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizing intangible assets
Customer relationships (1)	13.4	$	83,101	$	63,124	$	19,977	$	111,556	$	85,180	$	26,376
Trademarks (1)	5.6	10,965		4,732		6,233		11,809		2,768		9,041
Acquired software and other	9.6	3,114		2,434		680		3,618		2,585		1,033
	12.4	97,180		70,290		26,890		126,983		90,533		36,450
Non-amortizing intangible assets
Trademarks	Indefinite	5,100		—		5,100		5,100		—		5,100
Total		$	102,280	$	70,290	$	31,990	$	132,083	$	90,533	$	41,550

(1)During the year ended December 31, 2021, we acquired certain assets of a business, and its related intangible assets were assigned to the FLC segment.

Intangible assets with finite lives are amortized over their estimated useful life. We recorded amortization expense of $10.8 million, $10.4 million and $8.2 million during the years ended December 31, 2021, 2020 and 2019, respectively.

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

	As of December 31, 2021 (1)
Year
2022	$	8,805
2023	5,077
2024	3,639
2025	2,979
2026	1,758
Thereafter	4,632
	$	26,890

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