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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill Goodwill represents the excess of the purchase price of acquired businesses over the estimated fair values of the tangible and identifiable intangible net assets acquired. Evaluations of the recoverability of goodwill are performed in accordance with FASB ASC Topic 350, which requires an annual assessment of potential goodwill impairment at the reporting unit level and whenever events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable. When performing the annual assessment of the recoverability of goodwill, the Company initially performs a qualitative analysis evaluating whether any events or circumstances occurred or exist that provide evidence that it is more likely than not that the fair value of any of the Company’s reporting units is less than the related carrying amount. If the Company does not believe that it is more likely than not that the fair value of any of the Company’s reporting units is less than the related carrying amount, then no quantitative impairment test is performed. However, if the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is less than its respective carrying amount, then a quantitative impairment test is performed. Evaluating the recoverability of goodwill requires judgments and assumptions regarding future trends and events. As a result, both the precision and reliability of the estimates are subject to uncertainty. The Company’s most recent annual impairment test of goodwill was a qualitative analysis conducted during the quarter ended September 30, 2021 that indicated no impairment. Subsequent to completing the 2021 annual impairment test, there were no events or changes in circumstances noted that required an interim impairment test. The table below presents changes to the carrying amount of goodwill by segment during the six months ended June 30, 2022 (in thousands).
| Research |  | Conferences |  | Consulting |  | Total
Balance at December 31, 2021 (1) | $ | 2,670,934 |  |  | $ | 184,021 |  |  | $ | 96,362 |  |  | $ | 2,951,317 |
Foreign currency translation impact | (6,795) |  |  | (79) |  |  | (1,186) |  |  | (8,060) |
Balance at June 30, 2022 (1) | $ | 2,664,139 |  |  | $ | 183,942 |  |  | $ | 95,176 |  |  | $ | 2,943,257 |
(1)The Company does not have any accumulated goodwill impairment losses. Finite-Lived Intangible Assets The tables below present reconciliations of the carrying amounts of the Company’s finite-lived intangible assets as of the dates indicated (in thousands).
June 30, 2022 |  | Customer Relationships |  | Technology-related |  |  |  | Other |  | Total
Gross cost at December 31, 2021 |  | $ | 1,096,358 |  |  | $ | 61,216 |  |  |  |  | $ | 10,436 |  |  | $ | 1,168,010 |
Foreign currency translation impact |  | (31,141) |  |  | (458) |  |  |  |  | — |  |  | (31,599) |
Gross cost |  | 1,065,217 |  |  | 60,758 |  |  |  |  | 10,436 |  |  | 1,136,411 |
Accumulated amortization (1) |  | (445,119) |  |  | (40,823) |  |  |  |  | (5,101) |  |  | (491,043) |
Balance at June 30, 2022 |  | $ | 620,098 |  |  | $ | 19,935 |  |  |  |  | $ | 5,335 |  |  | $ | 645,368 |
December 31, 2021 |  | Customer Relationships |  | Technology-related |  |  |  | Other |  | Total
Gross cost |  | $ | 1,096,358 |  |  | $ | 61,216 |  |  |  |  | $ | 10,436 |  |  | $ | 1,168,010 |
Accumulated amortization (1) |  | (413,266) |  |  | (35,727) |  |  |  |  | (4,599) |  |  | (453,592) |
Balance at December 31, 2021 |  | $ | 683,092 |  |  | $ | 25,489 |  |  |  |  | $ | 5,837 |  |  | $ | 714,418 |
(1) Finite-lived intangible assets are amortized using the straight-line method over the following periods: Customer relationships—6 to 13 years; Technology-related—3 to 7 years; and Other—4 to 11 years. Amortization expense related to finite-lived intangible assets was $24.8 million and $26.2 million during the three months ended June 30, 2022 and 2021, respectively, and $49.9 million and $56.7 million during the six months ended June 30, 2022 and 2021, respectively. The estimated future amortization expense by year for finite-lived intangible assets is presented in the table below (in thousands).
2022 (remaining six months) | $ | 49,113 |
2023 | 98,211 |
2024 | 91,066 |
2025 | 80,550 |
2026 | 77,876 |
Thereafter | 248,552 |
| $ | 645,368 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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