Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

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 at December 31, 2020	$	506,072	$	233,374	$	269,087	$	96,821	$	129,525	$	1,234,879
Acquisitions (3)	—		5,493		—		—		—		5,493
Foreign currency translation adjustment and other	(5,026)		(938)		(229)		(10)		(1,378)		(7,581)



Balance at December 31, 2021	$	501,046	$	237,929	$	268,858	$	96,811	$	128,147	$	1,232,791
Acquisitions (3)	11,332		—		—		—		—		11,332
Foreign currency translation adjustment and other	4,122		(3,057)		(803)		(84)		(16,708)		(16,530)
Balance at December 31, 2022	$	516,500	$	234,872	$	268,055	$	96,727	$	111,439	$	1,227,593

(1)There were no accumulated impairment losses for the Corporate Finance, FLC, Economic Consulting or Technology segments as of December 31, 2022, 2021 and 2020.

(2)Amounts for our Strategic Communications segment include gross carrying values of $305.6 million, $322.3 million and $323.7 million as of December 31, 2022, 2021, and 2020, respectively, and accumulated impairment losses of $194.1 million representing the aggregate impairment charges for the years ended December 31, 2022, 2021 and 2020.

(3)During the years ended December 31, 2022 and 2021, we acquired certain assets of businesses that were assigned to the Corporate Finance and FLC segments, respectively. We recorded $11.3 million and $5.5 million in goodwill as a result of the acquisitions in 2022 and 2021, respectively. We have included the results of the acquired businesses' operations in the Corporate Finance and FLC segments since the acquisition dates.

Intangible Assets

Intangible assets were as follows:


		December 31, 2022						December 31, 2021
	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)	13.0	$	78,223	$	63,810	$	14,413	$	83,101	$	63,124	$	19,977
Trademarks (1)	5.9	10,950		5,554		5,396		10,965		4,732		6,233
Acquired software and other (1)	6.4	846		241		605		3,114		2,434		680
	12.2	90,019		69,605		20,414		97,180		70,290		26,890
Non-amortizing intangible assets
Trademarks	Indefinite	5,100		—		5,100		5,100		—		5,100
Total		$	95,119	$	69,605	$	25,514	$	102,280	$	70,290	$	31,990

(1)During the year ended December 31, 2022, we acquired a business, and its related intangible assets were assigned to the Corporate Finance segment.

Intangible assets with finite lives are amortized over their estimated useful life. We recorded amortization expense of $9.6 million, $10.8 million and $10.4 million during the years ended December 31, 2022, 2021 and 2020, respectively. No impairment charges for intangible assets were recorded during the years ended December 31, 2022, 2021 and 2020.

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


	As of December 31, 2022 (1)
Year
2023	$	5,964
2024	3,647
2025	2,940
2026	1,788
2027	1,718
Thereafter	4,357
	$	20,414

(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.