Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4 – Goodwill and Other Intangible Assets

A summary of goodwill by segment and the changes in the carrying amount of goodwill is shown in the following table (in thousands):


	Research Segment			Consulting Segment			Total
Balance at December 31, 2019	$	235,685		$	8,143		$	243,828
Translation adjustments		3,228			155			3,383
Balance at December 31, 2020		238,913			8,298			247,211
Translation adjustments		(2,143	)		(74	)		(2,217	)
Balance at December 31, 2021	$	236,770		$	8,224		$	244,994

The Company performed its annual impairment testing as of November 30, 2021 utilizing a qualitative assessment to determine if it was more likely than not that the fair values of each of its reporting units was less than their respective carrying values, and concluded that no impairments existed.

As of December 31, 2021, the Company had no accumulated goodwill impairment losses and the Consulting reporting unit had a negative carrying value.

A summary of Forrester’s intangible assets is as follows (in thousands):


	December 31, 2021
	Gross				Net
	Carrying		Accumulated		Carrying
	Amount		Amortization		Amount
Amortizable intangible assets:
Customer relationships	$	78,364	$	25,805	$	52,559
Technology		16,845		13,073		3,772
Trademarks		12,478		6,076		6,402
Total	$	107,687	$	44,954	$	62,733


	December 31, 2020
	Gross				Net
	Carrying		Accumulated		Carrying
	Amount		Amortization		Amount
Amortizable intangible assets:
Customer relationships	$	78,450	$	17,277	$	61,173
Technology		16,956		10,197		6,759
Trademarks		12,495		2,432		10,063
Total	$	107,901	$	29,906	$	77,995

Amortization expense related to intangible assets was approximately $15.1 million, $19.7 million, and $22.6 million during the years ended December 31, 2021, 2020, and 2019, respectively. Estimated intangible asset amortization expense for each of the five succeeding years is as follows (in thousands):


2022	$	13,197
2023		11,951
2024		9,910
2025		8,878
2026		8,391
Thereafter		10,406
Total	$	62,733