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GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
The components of Goodwill and other intangible assets were as follows:
December 31,
2024		December 31,
2023
Goodwill$32,230  $32,230 
Indefinite-life intangibles:
Trademark - Douglas Elliman$68,000 $68,000 
Intangibles with a finite life, net4,307 4,964 
  Total other intangible assets, net$72,307 $72,964 
The carrying amounts of goodwill and intangibles with a finite life for 2024 were as follows:
Goodwill Intangibles with a finite life, net
Balance as of January 1, 2024$32,230 $4,964 
Amortization— (657)
Balance as of December 31, 2024$32,230 $4,307 

The carrying amounts of goodwill and intangibles with a finite life for 2023 were as follows:
Goodwill Intangibles with a finite life, net
Balance as of January 1, 2023$32,230 $5,666 
Amortization— (702)
Balance as of December 31, 2023$32,230 $4,964 
_____________________________

Goodwill is evaluated for impairment annually or whenever the Company identifies certain triggering events or circumstances that would more likely than not reduce the fair value of the Company below its carrying amount. Events or circumstances that might indicate an interim evaluation is warranted include, among other things, unexpected adverse business conditions, macro and reporting unit specific economic factors (for example, interest rate fluctuations, and loss of key personnel), supply costs, unanticipated competitive activities, and acts by governments and courts.
In the three months ended September 30, 2024, the Company utilized third-party valuation specialists to prepare a quantitative assessment of its goodwill and trademark intangible assets, based on the current market conditions in the residential real estate brokerage industry which did not result in impairment charges related to its goodwill or trademark for the year ended December 31, 2024.
For the goodwill testing, the Company utilized an income approach (a discounted cash flows method) to estimate the fair value of the Douglas Elliman business. The estimated fair value of the trademark indefinite-life intangible asset related to the Douglas Elliman brand name was determined using an approach that values the Company’s cash savings from having a royalty-free license compared to the market rate it would pay for access to use the trade name.
The third-party quantitative assessments of the goodwill and trademark intangible asset reflected management’s assumptions regarding revenue growth rates, economic and market trends including current expectations of the market, changes to cost structures and other expectations about the anticipated short-term and long-term operating results of the Company.
If the Company fails to achieve the financial projections used in the quantitative assessments of fair value and current market conditions deteriorate, impairment charges could result in future periods, and such impairment charges could be material.
Other intangible assets and contract liabilities assumed were as follows:
Useful Lives in YearsDecember 31,
2024		December 31,
2023
Trademark - Douglas EllimanIndefinite$68,000 $68,000 
Other intangibles
1 - 10
11,216 11,216 
 11,216 11,216 
Less: Accumulated amortization on amortizable intangibles(6,909)(6,252)
Other intangibles, net$4,307 $4,964 
The trademark intangible has been attributed to the acquisition of the Douglas Elliman brand name which the Company plans to continue using. The fair value of the intangible asset associated with the Douglas Elliman trademark is determined using a “relief from royalty payments” method. This approach involves two steps: (i) estimating reasonable royalty rates for its Douglas Elliman trademark and (ii) applying these royalty rates to a net sales stream and discounting the resulting cash flows to determine fair value. This fair value is then compared with the carrying value of the trademark. The Company performed its impairment test for the year ended December 31, 2024, which did not result in additional impairment charges related to the Company’s trademark. If the Company fails to achieve the financial projections used in the quantitative assessments of fair value, impairment charges could result in future periods, and such impairment charges could be material.
As of December 31, 2024 and 2023, other intangibles with finite lives included non-compete agreements and favorable lease assets related to business combinations.
For the years ended December 31, 2024, 2023, and 2022, respectively, amortization of other intangibles was $657, $702 and $755.