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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2023
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 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 adjustment4,122 (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 
Foreign currency translation adjustment1,405 1,629 427 75 3,440 6,976 
Intersegment transfers in/(out) (4)
23,086 (23,086)— — — — 
Balance at December 31, 2023
$540,991 $213,415 $268,482 $96,802 $114,879 $1,234,569 
(1)There were no accumulated impairment losses for the Corporate Finance, FLC, Economic Consulting or Technology segments as of December 31, 2023, 2022 and 2021.
(2)Amounts for our Strategic Communications segment include gross carrying values of $309.0 million, $305.6 million and $322.3 million as of December 31, 2023, 2022, and 2021, respectively, and accumulated impairment losses of $194.1 million as of December 31, 2023, 2022 and 2021.
(3)During the year ended December 31, 2022, we acquired certain assets of businesses that were assigned to the Corporate Finance segment. We recorded $11.3 million in goodwill as a result of the acquisition in 2022. We have included the results of the acquired business operations in the Corporate Finance segment since the acquisition date.
(4)Includes the allocation of goodwill relating to the reclassification of the portion of the Company’s health solutions practice previously within our FLC segment, which focuses on business transformation services in the healthcare and life sciences sector, to our realigned business transformation practice within our Corporate Finance segment. See Note 20, “Segment Reporting,” for information on this segment reclassification.
Schedule of Other Intangible Assets Amortized Intangibles
Intangible assets were as follows:
  December 31, 2023December 31, 2022
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 relationships9.7$27,000 $16,640 $10,360 $78,223 $63,810 $14,413 
Trademarks6.09,712 7,129 2,583 10,950 5,554 5,396 
Acquired software and other1.9888 646 242 846 241 605 
8.637,600 24,415 13,185 90,019 69,605 20,414 
Non-amortizing intangible assets
TrademarksIndefinite5,100 — 5,100 5,100 — 5,100 
Total$42,700 $24,415 $18,285 $95,119 $69,605 $25,514 
Schedule of Other Intangible Assets Unamortized Intangibles
Intangible assets were as follows:
  December 31, 2023December 31, 2022
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 relationships9.7$27,000 $16,640 $10,360 $78,223 $63,810 $14,413 
Trademarks6.09,712 7,129 2,583 10,950 5,554 5,396 
Acquired software and other1.9888 646 242 846 241 605 
8.637,600 24,415 13,185 90,019 69,605 20,414 
Non-amortizing intangible assets
TrademarksIndefinite5,100 — 5,100 5,100 — 5,100 
Total$42,700 $24,415 $18,285 $95,119 $69,605 $25,514 
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, 2023 (1)
Year
2024$3,646 
20252,907 
20261,740 
20271,670 
20281,265 
Thereafter1,957 
$13,185 
(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.