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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 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 six months ended June 30, 2025.
| Healthcare |  | Education |  | Commercial |  | Total
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(1) | 53,832 |  |  | 6,212 |  |  | — |  |  | 60,044 |
Foreign currency translation | — |  |  | 283 |  |  | — |  |  | 283 |
Goodwill, net as of June 30, 2025 | $ | 507,360 |  |  | $ | 151,059 |  |  | $ | 80,651 |  |  | $ | 739,070 |
(1) See Note 4 "Acquisitions" for additional information on business combinations completed in 2025. Of the $60.0 million of goodwill recorded in the first six months of 2025, $53.8 million related to the acquisition of Eclipse Insights within our Healthcare segment. Goodwill is recognized for the excess of purchase price over the net fair value of assets acquired and liabilities assumed, and largely reflects the expanded market opportunities expected from combining the service offerings of Huron and Eclipse Insights, as well as the assembled workforce of Eclipse Insights. All of the $53.8 million of goodwill is expected to be tax deductible. Intangible Assets Intangible assets as of June 30, 2025 and December 31, 2024 consisted of the following:
|  |  | As of June 30, 2025 |  | As of December 31, 2024
| Useful Life (in years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Customer relationships | 4 to 10 |  | $ | 58,558 |  |  | $ | 12,303 |  |  | $ | 30,683 |  |  | $ | 9,790 |
Technology and software | 2 to 5 |  | 18,330 |  |  | 13,764 |  |  | 16,230 |  |  | 12,771 |
Trade names | 6 |  | 6,000 |  |  | 6,000 |  |  | 6,000 |  |  | 6,000 |
Customer contracts | 1 to 4 |  | 1,681 |  |  | 1,062 |  |  | 1,483 |  |  | 418 |
Non-competition agreements | 2 to 5 |  | 1,380 |  |  | 805 |  |  | 1,260 |  |  | 601 |
Total |  |  | $ | 85,949 |  |  | $ | 33,934 |  |  | $ | 55,656 |  |  | $ | 29,580 |
During the six months ended June 30, 2025, we acquired intangible assets of $30.2 million related to our business combinations completed in 2025. Of the $30.2 million of intangible assets acquired, $26.9 million relates to our acquisition of Eclipse Insights and includes $24.8 million for customer relationships and $2.1 million for technology and software. The acquired customer relationships and technology and software intangible assets have an initial estimated useful life of 10 years and 5 years, respectively. 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 $2.3 million and $1.6 million for the three months ended June 30, 2025 and 2024, respectively; and $4.3 million and $3.3 million for the six months ended June 30, 2025 and 2024, respectively. The table below sets forth the estimated annual amortization expense for the intangible assets recorded as of June 30, 2025.
Year Ending December 31, |  | Estimated Amortization Expense
2025 |  | $ | 11,342 |
2026 |  | $ | 11,025 |
2027 |  | $ | 8,890 |
2028 |  | $ | 7,552 |
2029 |  | $ | 5,600 |
Actual future amortization expense could differ from these estimated amounts as a result of future acquisitions, dispositions, and other factors.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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