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Note 11 - Intangible Assets
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]
11.
Intangible assets
 
The following table summarizes the gross value, accumulated amortization and net carrying value of the Company's indefinite life and finite life intangible assets:
 
December 31, 2020    
Gross
                  
     
carrying
      
Accumulated
          
     
amount
      
amortization
      
Net
  
                         
Indefinite life intangible assets:                        
Licenses   $
29,200
     $
-
     $
29,200
  
Trademarks and trade names    
24,096
      
-
      
24,096
  
    $
53,296
     $
-
     $
53,296
  
                         
Finite life intangible assets:                        
Customer lists and relationships   $
345,511
     $
123,368
     $
222,143
  
Investment management contracts    
270,600
      
60,723
      
209,877
  
Mortgage servicing rights ("MSRs")    
114,909
      
13,121
      
101,788
  
Franchise rights    
5,630
      
5,322
      
308
  
Trademarks and trade names    
14,803
      
4,355
      
10,448
  
Management contracts and other    
20,813
      
12,406
      
8,407
  
Backlog    
16,307
      
12,244
      
4,063
  
    $
788,573
     $
231,539
     $
557,034
  
                         
    $
841,869
     $
231,539
     $
610,330
  
 
                         
     
Gross
                  
December 31, 2019    
carrying
      
Accumulated
      
 
  
     
amount
      
amortization
      
Net
  
                         
Indefinite life intangible assets:                        
Trademarks and trade names   $
23,810
     $
-
     $
23,810
  
    $
23,810
     $
-
     $
23,810
  
                         
Finite life intangible assets:                        
Customer lists and relationships   $
310,856
     $
115,987
     $
194,869
  
Investment management contracts    
270,600
      
36,434
      
234,166
  
Franchise rights    
5,163
      
4,505
      
658
  
Trademarks and trade names    
12,435
      
2,398
      
10,037
  
Management contracts and other    
16,088
      
9,306
      
6,782
  
Backlog    
8,558
      
1,426
      
7,132
  
    $
623,700
     $
170,056
     $
453,644
  
                         
    $
647,510
     $
170,056
     $
477,454
  
 
In
May 2020,
the Company acquired MSR intangible assets in its acquisition of Colliers Mortgage. MSR intangible assets represent the carrying value of servicing assets in the Americas segment. The MSR asset is being amortized over the estimated period that the net servicing income is expected to be received. The amount of MSRs recognized in
2020
are summarized in the table below.
 
      2020  
         
Balance, January 1   $
-
  
Recognized on business acquisitions    
99,900
  
Additions, following the sale of loan    
15,009
  
Amortization expense    
(8,553
 )
Prepayments and write-offs    
(4,568
 )
Balance, December 31   $
101,788
  
 
During the year ended
December 31, 2020,
the Company acquired the following intangible assets:
 
             
Estimated
  
             
weighted
  
             
average
  
             
amortization
  
     
Amount
      
period (years)
  
                 
Indefinite life intangible assets:                
Licenses - indefinite life   $
29,200
      
-
  
                 
Finite life intangible assets:                
Customer lists and relationships   $
52,193
      
9.8
  
Mortgage servicing rights (MSR)    
99,900
      
8.2
  
Trademarks and trade names - finite life    
3,500
      
2.0
  
Customer backlog    
8,740
      
0.7
  
Other    
4,800
      
4.6
  
                 
                 
    $
198,333
      
8.1
  
 
The following is the estimated future expense for amortization of the recorded MSRs and other intangible assets for each of the next
five
years and thereafter:
 
For the year ended December 31,    
MSRs
      
Other Intangibles
      
Total
  
2021   $
13,469
      
68,831
     $
82,300
  
2022    
12,376
      
62,153
      
74,529
  
2023    
11,516
      
58,429
      
69,945
  
2024    
10,730
      
48,828
      
59,558
  
2025    
9,652
      
41,493
      
51,145
  
Thereafter    
44,045
      
175,512
      
219,557
  
    $
101,788
      
455,246
     $
557,034