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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets | 3. Goodwill and Intangible Assets The carrying value of Goodwill was $1.9 billion as of December 31, 2022 and 2021. At December 31, 2022 and 2021, Blackstone determined there was no evidence of Goodwill impairment. At December 31, 2022 and 2021, Goodwill has been allocated to each of Blackstone’s four segments as follows: Real Estate ($421.7 million), Private Equity ($870.0 million), Credit & Insurance ($426.4 million) and Hedge Fund Solutions ($172.1 million). Intangible Assets, Net consists of the following:
|  | December 31,
|  | 2022 |  | 2021
Finite-Lived Intangible Assets/Contractual Rights |  | $ | 1,745,376 |  |  | $ | 1,745,376 |
Accumulated Amortization |  |  | (1,528,089 | ) |  |  | (1,460,992 | )
Intangible Assets, Net |  | $ | 217,287 |  |  | $ | 284,384 |
Changes in Blackstone’s Intangible Assets, Net consists of the following:
|  | Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Balance, Beginning of Year |  | $ | 284,384 |  |  | $ | 347,955 |  |  | $ | 397,508 |
Amortization Expense |  |  | (67,097 | ) |  |  | (74,871 | ) |  |  | (71,053 | )
Acquisitions (a) |  |  | — |  |  |  | 11,300 |  |  |  | 21,500 |
Balance, End of Year |  | $ | 217,287 |  |  | $ | 284,384 |  |  | $ | 347,955 |
(a) | In December 2020, Blackstone acquired DCI, a San Francisco based systematic credit investment firm. Provisional amounts of Intangible Assets and Goodwill for the acquisition of DCI were reported for the year ended December 31, 2020, which resulted in a $21.5 million increase in Intangible Assets. During the year ended December 31, 2021, Blackstone obtained additional information needed to identify and measure the acquired assets, which resulted in a $11.3 million increase in Intangible Assets. Intangible Assets related to the DCI acquisition are primarily comprised of contractual rights to earn future fee income.
Amortization of Intangible Assets held at December 31, 2022 is expected to be $38.1 million, $30.5 million, $30.5 million, $30.4 million and $29.3 million for each of the years ending December 31, 2023, 2024, 2025, 2026 and 2027, respectively. Blackstone’s Intangible Assets as of December 31, 2022 are expected to amortize over a weighted-average period of 7.1 years.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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