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Goodwill and Intangibles | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles | Note 9. Goodwill and Intangibles Changes in goodwill for the six months ended June 30, 2024 are as follows:
Balance at December 31, 2023 |  | $ | 506,038 |
Increase from acquisitions |  |  | - |
Balance at June 30, 2024 |  | $ | 506,038 |
Intangibles consists of the following:
|  | As of June 30, 2024 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trade names |  | $ | 17,375 |  |  | $ | — |  |  | $ | 17,375 |
Technology |  |  | 30 |  |  |  | — |  |  |  | 30 |
Total indefinite-lived intangible assets |  |  | 17,405 |  |  |  | — |  |  |  | 17,405 |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trade names |  |  | 28,240 |  |  |  | (7,055 | ) |  |  | 21,185 |
Management and advisory contracts |  |  | 194,666 |  |  |  | (123,184 | ) |  |  | 71,482 |
Technology |  |  | 2,380 |  |  |  | (2,132 | ) |  |  | 248 |
Total finite-lived intangible assets |  |  | 225,286 |  |  |  | (132,371 | ) |  |  | 92,915 |
Total intangible assets |  | $ | 242,691 |  |  | $ | (132,371 | ) |  | $ | 110,320 |
|  | As of December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trade names |  | $ | 17,375 |  |  | $ | — |  |  | $ | 17,375 |
Technology |  |  | 30 |  |  |  | — |  |  |  | 30 |
Total indefinite-lived intangible assets |  |  | 17,405 |  |  |  | — |  |  |  | 17,405 |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trade names |  |  | 28,240 |  |  |  | (5,789 | ) |  |  | 22,451 |
Management and advisory contracts |  |  | 194,666 |  |  |  | (111,873 | ) |  |  | 82,793 |
Technology |  |  | 2,380 |  |  |  | (1,834 | ) |  |  | 546 |
Total finite-lived intangible assets |  |  | 225,286 |  |  |  | (119,496 | ) |  |  | 105,790 |
Total intangible assets |  | $ | 242,691 |  |  | $ | (119,496 | ) |  | $ | 123,195 |
Management and advisory contracts and finite lived trade names are amortized over 7 - 16 years and are being amortized in line in which the economic benefits that are expected to occur. Technology is amortized on a straight-line basis over 4 years. The amortization expense for each of the next five years and thereafter are as follows:
2024 |  | $ | 12,737 |
2025 |  |  | 21,269 |
2026 |  |  | 16,640 |
2027 |  |  | 13,307 |
2028 |  |  | 9,986 |
Thereafter |  |  | 18,976 |
Total amortization |  | $ | 92,915 |

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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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