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Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in the carrying amount of the Company's goodwill by segment are as follows:
Institutional InvestorsInvestment ManagersInvestments in New BusinessesTotal
Balance, December 31, 2023
$61,884 $56,990 $18,459 $137,333 
Measurement period adjustments25 — — 25 
Reclassification due to segment reorganization— (1,711)1,711 — 
Foreign currency translation adjustments730 (3)— 727 
Balance, September 30, 2024
$62,639 $55,276 $20,170 $138,085 
The reclassification of the Company's goodwill by segment during the nine months ended September 30, 2024 reflects the relative fair value allocation of the goodwill related to the businesses that were reclassified into the new segment (See Note 9).
In November 2023, the Company's wholly-owned operating subsidiary in the United Kingdom, SIEL, acquired all of the outstanding equity of XPS Pensions (Nexus) Limited, principal employer and scheme funder of the National Pensions Trust (NPT), from its parent company, XPS Pensions Group PLC (XPS). The total purchase price for XPS Pensions (Nexus) Limited included a contingent consideration payable to the sellers subject to the achievement of certain post-closing performance measurements determined during intervals occurring within two years immediately following the closing date. During the nine months ended September 30, 2024, the Company made an adjustment of $1,547 which reduced the fair value of the contingent consideration. The fair value adjustment to the contingent consideration is reflected in Facilities, supplies and other costs on the Consolidated Statement of Operations. As of September 30, 2024, the fair value of the contingent consideration of $2,611 is included in Other long-term liabilities on the accompanying Balance Sheet.
The Company recognized $10,066 and $9,178 of amortization expense related to acquired intangible assets during the nine months ended September 30, 2024 and 2023, respectively.