Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The table below summarizes the changes in the carrying amount of goodwill by reportable segment:


	Corporate Finance & Restructuring (1)		Forensic and Litigation Consulting (1)		Economic Consulting (1)		Technology (1)		Strategic Communications (2)		Total
Balance at December 31, 2020	$	506,072	$	233,374	$	269,087	$	96,821	$	129,525	$	1,234,879
Acquisitions	—		5,493		—		—		—		5,493
Foreign currency translation adjustment and other	(1,560)		315		38		30		862		(315)
Balance at June 30, 2021	$	504,512	$	239,182	$	269,125	$	96,851	$	130,387	$	1,240,057

(1) There were no accumulated impairment losses for the Corporate Finance & Restructuring ("Corporate Finance"), Forensic and Litigation Consulting ("FLC"), Economic Consulting or Technology segments as of June 30, 2021 and December 31, 2020, respectively.

(2) Amounts for our Strategic Communications segment include gross carrying values of $324.5 million and $323.7 million as of June 30, 2021 and December 31, 2020, respectively, and accumulated impairment losses of $194.1 million as of June 30, 2021 and December 31, 2020.

During the three months ended June 30, 2021, we acquired certain assets of a leading construction consulting firm that were assigned to the FLC segment. We recorded $5.5 million in goodwill based on a preliminary purchase price allocation as a result of the acquisition. We have included the results of the acquired business’s operations in the FLC segment since its acquisition date.

Intangible Assets

Intangible assets were as follows:


	June 30, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortizing intangible assets
Customer relationships (1)	$	113,937	$	89,837	$	24,100	$	111,556	$	85,180	$	26,376
Trademarks	11,476		3,814		7,662		11,809		2,768		9,041
Acquired software and other	3,507		2,716		791		3,618		2,585		1,033
	128,920		96,367		32,553		126,983		90,533		36,450
Non-amortizing intangible assets
Trademarks	5,100		—		5,100		5,100		—		5,100
Total	$	134,020	$	96,367	$	37,653	$	132,083	$	90,533	$	41,550

(1) During the three months ended June 30, 2021, we acquired certain assets of a leading construction consulting firm, and its related intangible assets were assigned to the FLC segment.

Intangible assets with finite lives are amortized over their estimated useful lives. We recorded amortization expense of $2.9 million and $5.7 million for the three and six months ended June 30, 2021, respectively, and $2.3 million and $4.6 million for the three and six months ended June 30, 2020, respectively.

We estimate our future amortization expense for our intangible assets with finite lives to be as follows:


Year	As of June 30, 2021 (1)
2021 (remaining)	$	5,207
2022	8,887
2023	5,192
2024	3,745
2025	3,051
Thereafter	6,471
	$	32,553

(1)Actual amortization expense to be reported in future periods could differ from these estimates because of new intangible asset acquisitions, impairments, changes in useful lives, or other relevant factors or changes.