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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 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, 2022 | $ | 234,020 |  |  | $ | 8,129 |  |  | $ | 242,149 |
Foreign currency translation adjustments |  | 2,038 |  |  |  | 70 |  |  |  | 2,108 |
Balance at December 31, 2023 |  | 236,058 |  |  |  | 8,199 |  |  |  | 244,257 |
Disposition (1) |  | (14,795 | ) |  |  | — |  |  |  | (14,795 | )
Foreign currency translation adjustments |  | (1,449 | ) |  |  | (54 | ) |  |  | (1,503 | )
Balance at December 31, 2024 | $ | 219,814 |  |  | $ | 8,145 |  |  | $ | 227,959 |
(1) See Note 2 - Divestiture for additional information. The amount of goodwill allocated to the divestiture was determined using a relative fair value approach. The Company performed its annual impairment test as of November 30, 2024 utilizing a qualitative assessment to determine if the fair values of each of its reporting units was less than their respective carrying values. The Company considered a variety of factors including the impacts of the uncertain economic conditions and the transition of its client base to the Forrester Decisions product platform on the Company's long-term forecast and stock price. Based upon those assessments, the Company concluded that there were no events or circumstances that had occurred that would more likely than not reduce the fair value of its reporting units below their carrying values. The Company will continue to monitor these factors and other future events, and the Company will perform interim impairment tests, if necessary. As of December 31, 2024, 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, 2024 |
| Gross |  |  |  |  |  | Net |
| Carrying |  |  | Accumulated |  |  | Carrying |
| Amount |  |  | Amortization |  |  | Amount |
Amortizable intangible assets: |  |  |  |  |  |  |  |
Customer relationships | $ | 77,000 |  |  | $ | 49,946 |  |  | $ | 27,054 |
Technology |  | 13,000 |  |  |  | 12,978 |  |  |  | 22 |
Trademarks |  | 12,000 |  |  |  | 11,601 |  |  |  | 399 |
Total | $ | 102,000 |  |  | $ | 74,525 |  |  | $ | 27,475 |
| December 31, 2023 |
| Gross |  |  |  |  |  | Net |
| Carrying |  |  | Accumulated |  |  | Carrying |
| Amount |  |  | Amortization |  |  | Amount |
Amortizable intangible assets: |  |  |  |  |  |  |  |
Customer relationships | $ | 77,640 |  |  | $ | 42,091 |  |  | $ | 35,549 |
Technology |  | 16,524 |  |  |  | 15,950 |  |  |  | 574 |
Trademarks |  | 12,519 |  |  |  | 11,005 |  |  |  | 1,514 |
Total | $ | 106,683 |  |  | $ | 69,046 |  |  | $ | 37,637 |
Amortization expense related to intangible assets was approximatel y $9.6 m illi on, $12.0 million, and $13.2 million during the years ended December 31, 2024, 2023, and 2022, respectively. Estimated intangible asset amortization expense for each of the four succeeding years is as follows (in thousands):
2025 |  | $ | 8,734 |
2026 |  |  | 8,335 |
2027 |  |  | 8,324 |
2028 |  |  | 2,082 |
Total |  | $ | 27,475 |

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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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