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Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
The table below sets forth the changes in the carrying value of goodwill by reportable segment for the three months ended March 31, 2025.

Healthcare		EducationCommercialTotal
Balance as of December 31, 2024:
Goodwill$643,552 $145,981 $345,102 $1,134,635 
Accumulated impairment losses(190,024)(1,417)(264,451)(455,892)
Goodwill, net as of December 31, 2024$453,528 $144,564 $80,651 $678,743 
Goodwill recorded in connection with business acquisitions
— 6,133 — 6,133 
Foreign currency translation— 33 — 33 
Goodwill, net as of March 31, 2025$453,528 $150,730 $80,651 $684,909 
2025 Acquisitions
On March 1, 2025, we completed the acquisition of Advancement Resources, a research-based, philanthropy-focused professional education services firm. The results of operations of Advancement Resources are included within our consolidated financial statements and results of operations of our Education segment as of the acquisition date.
On March 17, 2025, we completed the acquisition of Halpin Partnership Limited (“Halpin”), a U.K.-based management consultancy specializing in higher education fundraising, governance, and strategy. The results of operations of Halpin are included within our consolidated financial statements and results of operations of our Education segment as of the acquisition date.
The acquisitions of Advancement Resources and Halpin are not significant to our consolidated financial statements individually or in the aggregate as of and for the three months ended March 31, 2025. These acquisitions were accounted for using the acquisition method of accounting. Contract assets and contract liabilities are recorded at their carrying value under Topic 606: Revenue from Contracts with Customers.
The current acquisition date values of assets acquired and liabilities assumed in the Advancement Resources and Halpin acquisitions are considered preliminary and are based on the information that was available as of the date of each acquisition. We believe that the information provides a reasonable basis for estimating the preliminary values of assets acquired and liabilities assumed but certain items, such as the valuations of the intangible assets and the working capital adjustments, among other things, may be subject to change as additional information is received. Thus, the provisional measurements of assets acquired, including goodwill, and liabilities assumed related to the Advancement Resources and Halpin acquisitions are subject to change. We expect to finalize the valuations as soon as practicable, but not later than one year from the acquisition dates.
Intangible Assets
Intangible assets as of March 31, 2025 and December 31, 2024 consisted of the following:
As of March 31, 2025As of December 31, 2024
Useful Life 
(in years)		Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Customer relationships
4 to 10
$33,694 $10,953 $30,683 $9,790 
Technology and software
2 to 5
16,230 13,267 16,230 12,771 
Trade names66,000 6,000 6,000 6,000 
Customer contracts
1 to 4
1,664 697 1,483 418 
Non-competition agreements
2 to 5
1,380 701 1,260 601 
Total$58,968 $31,618 $55,656 $29,580 
During the three months ended March 31, 2025, we acquired intangible assets of $3.3 million related to our acquisitions of Advancement Resources and Halpin. These acquired intangible assets consist of customer relationships, customer contracts and non-competition agreements.
Identifiable intangible assets with finite lives are amortized over their estimated useful lives using either an accelerated or straight-line basis to correspond to the cash flows expected to be derived from the assets. Intangible asset amortization expense was $2.0 million and $1.7 million for the three months ended March 31, 2025 and 2024, respectively. The table below sets forth the estimated annual amortization expense for the intangible assets recorded as of March 31, 2025.
Year Ending December 31,Estimated Amortization Expense
2025$8,713 
2026$6,912 
2027$5,110 
2028$4,105 
2029$2,544 
Actual future amortization expense could differ from these estimated amounts as a result of future acquisitions, dispositions, and other factors.