XML 115 R38.htm IDEA: XBRL DOCUMENT v3.20.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
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, 2019478,842 232,120 268,677 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, 2020December 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)
5.711,809 2,768 9,041 9,855 653 9,202 
Acquired software and other9.23,618 2,585 1,033 3,386 2,061 1,325 
13.0126,983 90,533 36,450 112,854 79,522 33,332 
Non-amortizing intangible assets
TrademarksIndefinite5,100 — 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, 2020December 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)
5.711,809 2,768 9,041 9,855 653 9,202 
Acquired software and other9.23,618 2,585 1,033 3,386 2,061 1,325 
13.0126,983 90,533 36,450 112,854 79,522 33,332 
Non-amortizing intangible assets
TrademarksIndefinite5,100 — 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 
20228,683 
20234,972 
20243,504 
20252,787 
Thereafter5,794 
$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.