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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Changes in Carrying Amounts of Goodwill by Operating Segment | 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 as of December 31, 2018 | $ | 450,997 |  |  | $ | 231,537 |  |  | $ | 268,547 |  |  | $ | 96,723 |  |  | $ | 124,512 |  |  | $ | 1,172,316 |
Acquisitions (3) | 27,389 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 27,389 |
Foreign currency translation adjustment and other | 456 |  |  | 583 |  |  | 130 |  |  | 47 |  |  | 1,846 |  |  | 3,062 |
Balance as of 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 as of December 31, 2020 | $ | 506,072 |  |  | $ | 233,374 |  |  | $ | 269,087 |  |  | $ | 96,821 |  |  | $ | 129,525 |  |  | $ | 1,234,879 |
(1)There were no accumulated impairment losses for the Corporate Finance, FLC, Economic Consulting or Technology segments as of December 31, 2020, 2019 and 2018. (2)Amounts for our Strategic Communications segment include gross carrying values of $323.7 million, $320.5 million and $318.7 million as of December 31, 2020, 2019 and 2018, respectively, and accumulated impairment losses of $194.1 million as of December 31, 2020, 2019 and 2018. (3)During the years ended December 31, 2020 and 2019, we acquired businesses that were assigned to the Corporate Finance segment. We recorded $20.6 million and $27.4 million in goodwill as a result of the acquisitions in 2020 and 2019, respectively. The purchase price allocation for the 2020 acquisition is preliminary. We have included the results of the acquired businesses' operations in the Corporate Finance segment since the acquisition dates.
Schedule of Other Intangible Assets Amortized Intangibles | Intangible assets were as follows:
|  |  | December 31, 2020 |  | December 31, 2019
| 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) | 13.9 |  | $ | 111,556 |  |  | $ | 85,180 |  |  | $ | 26,376 |  |  | $ | 99,613 |  |  | $ | 76,808 |  |  | $ | 22,805 |
Trademarks (1) | 5.7 |  | 11,809 |  |  | 2,768 |  |  | 9,041 |  |  | 9,855 |  |  | 653 |  |  | 9,202 |
Acquired software and other | 9.2 |  | 3,618 |  |  | 2,585 |  |  | 1,033 |  |  | 3,386 |  |  | 2,061 |  |  | 1,325 |
| 13.0 |  | 126,983 |  |  | 90,533 |  |  | 36,450 |  |  | 112,854 |  |  | 79,522 |  |  | 33,332 |
Non-amortizing intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks | Indefinite |  | 5,100 |  |  | — |  |  | 5,100 |  |  | 5,100 |  |  | — |  |  | 5,100 |
Total |  |  | $ | 132,083 |  |  | $ | 90,533 |  |  | $ | 41,550 |  |  | $ | 117,954 |  |  | $ | 79,522 |  |  | $ | 38,432 |
(1)During the year ended December 31, 2020, we acquired a strategy consulting and investment banking business, and its related intangible assets were assigned to the Corporate Finance segment.
Schedule of Other Intangible Assets Unamortized Intangibles | Intangible assets were as follows:
|  |  | December 31, 2020 |  | December 31, 2019
| 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) | 13.9 |  | $ | 111,556 |  |  | $ | 85,180 |  |  | $ | 26,376 |  |  | $ | 99,613 |  |  | $ | 76,808 |  |  | $ | 22,805 |
Trademarks (1) | 5.7 |  | 11,809 |  |  | 2,768 |  |  | 9,041 |  |  | 9,855 |  |  | 653 |  |  | 9,202 |
Acquired software and other | 9.2 |  | 3,618 |  |  | 2,585 |  |  | 1,033 |  |  | 3,386 |  |  | 2,061 |  |  | 1,325 |
| 13.0 |  | 126,983 |  |  | 90,533 |  |  | 36,450 |  |  | 112,854 |  |  | 79,522 |  |  | 33,332 |
Non-amortizing intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks | Indefinite |  | 5,100 |  |  | — |  |  | 5,100 |  |  | 5,100 |  |  | — |  |  | 5,100 |
Total |  |  | $ | 132,083 |  |  | $ | 90,533 |  |  | $ | 41,550 |  |  | $ | 117,954 |  |  | $ | 79,522 |  |  | $ | 38,432 |
(1)During the year ended December 31, 2020, we acquired a strategy consulting and investment banking business, and its related intangible assets were assigned to the Corporate Finance segment.
Schedule of Future Amortization Expense Intangible Assets | We estimate our future amortization expense for our intangible assets with finite lives to be as follows:
| As of December 31, 2020 (1)
Year
2021 | $ | 10,710 |
2022 | 8,683 |
2023 | 4,972 |
2024 | 3,504 |
2025 | 2,787 |
Thereafter | 5,794 |
| $ | 36,450 |
(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.

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