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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill was $472,326 and $512,595 as of December 31, 2023 and 2022, respectively. The decrease in goodwill for the year ended December 31, 2023 was primarily from the Targus goodwill impairment of $53,100 in the Consumer Products segment, partially offset by $11,871 from other acquisitions. The increase in goodwill for the year ended December 31, 2022 was primarily from the acquisitions of Targus in the Consumer Products segment, FocalPoint in the Capital Markets segment, and Lingo and BullsEye in the Communications segment. The changes in the carrying amount of goodwill during the years ended December 31, 2023 and 2022 were as follows:
| Capital Markets Segment |  | Wealth Management Segment |  | Auction and Liquidation Segment |  | Financial Consulting Segment |  | Communications Segment |  | Consumer Products Segment |  | All Other |  | Total
Balance as of December 31, 2021 | $ | 51,338 |  |  | $ | 51,195 |  |  | $ | 1,975 |  |  | $ | 23,680 |  |  | $ | 122,380 |  |  | $ | — |  |  | $ | — |  |  | $ | 250,568 |
Goodwill acquired during the year: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition of other businesses | 110,680 |  |  | — |  |  | — |  |  | — |  |  | 70,815 |  |  | 75,753 |  |  | 4,779 |  |  | 262,027 |
Balance as of December 31, 2022 | 162,018 |  |  | 51,195 |  |  | 1,975 |  |  | 23,680 |  |  | 193,195 |  |  | 75,753 |  |  | 4,779 |  |  | 512,595 |
Changes in goodwill during the year: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition of other businesses | — |  |  | — |  |  | — |  |  | 9,443 |  |  | — |  |  | — |  |  | 2,428 |  |  | 11,871 |
Goodwill impairment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (53,100) |  |  | — |  |  | (53,100) |
Other | — |  |  | — |  |  | — |  |  | 187 |  |  | 672 |  |  | 4,028 |  |  | (3,927) |  |  | 960 |
Balance as of December 31, 2023 | $ | 162,018 |  |  | $ | 51,195 |  |  | $ | 1,975 |  |  | $ | 33,310 |  |  | $ | 193,867 |  |  | $ | 26,681 |  |  | $ | 3,280 |  |  | $ | 472,326 |
During the year ended December 31, 2023, the changes in goodwill included $187 of foreign currency translation amounts, $672 of working capital settlements as described in Note 3, $4,028 related to certain purchase price accounting adjustments, and $(3,927) related to the sale of certain assets. Intangible assets consisted of the following:
|  |  | As of December 31, 2023 |  | As of December 31, 2022
| Useful Life |  | Gross Carrying Value |  | Accumulated Amortization |  | Intangibles Net |  | Gross Carrying Value |  | Accumulated Amortization |  | Intangibles Net
Amortizable assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships | 1.0 to 16 Years |  | $ | 272,399 |  |  | $ | (117,228) |  |  | $ | 155,171 |  |  | $ | 268,253 |  |  | $ | (87,049) |  |  | $ | 181,204 |
Domain names | 7 years |  | 185 |  |  | (183) |  |  | 2 |  |  | 185 |  |  | (169) |  |  | 16 |
Advertising relationships | 8 years |  | 100 |  |  | (94) |  |  | 6 |  |  | 100 |  |  | (81) |  |  | 19 |
Internally developed software and other intangibles | 0.5 to 10 Years |  | 28,985 |  |  | (19,613) |  |  | 9,372 |  |  | 28,295 |  |  | (12,714) |  |  | 15,581 |
Trademarks | 3 to 10 Years |  | 20,821 |  |  | (8,133) |  |  | 12,688 |  |  | 23,309 |  |  | (6,307) |  |  | 17,002 |
Total |  |  | 322,490 |  |  | (145,251) |  |  | 177,239 |  |  | 320,142 |  |  | (106,320) |  |  | 213,822 |
Non-amortizable assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames |  |  | 144,775 |  |  | — |  |  | 144,775 |  |  | 160,276 |  |  | — |  |  | 160,276 |
Total intangible assets |  |  | $ | 467,265 |  |  | $ | (145,251) |  |  | $ | 322,014 |  |  | $ | 480,418 |  |  | $ | (106,320) |  |  | $ | 374,098 |
Amortization expense was $40,136, $34,292, and $22,006 during the years ended December 31, 2023, 2022, and 2021, respectively. As of December 31, 2023, estimated future amortization expense was $33,970, $30,336, $27,208, $24,842, $21,162 during the years ended December 31, 2024, 2025, 2026, 2027 and 2028, respectively. The estimated future amortization expense after December 31, 2028 was $39,721. The Company performs impairment tests for goodwill as of December 31 of each year and between annual impairment tests if an event occurs or circumstances change that would more likely than not reduce the fair values of the Company’s reporting units below their carrying values. As a result of the current financial performance of the Company’s Targus subsidiary which is included in the Consumer Products segment as well as current market conditions that exist in the personal computer market for computers and accessories, the Company updated its long-term forecasts. The Company performed an interim goodwill impairment quantitative assessment as of September 30, 2023 and a year ended assessment as of December 31, 2023, and based on the results of the analysis, the Company recorded a non-cash impairment charge of $68,600 consisting of a goodwill impairment charge of $53,100 and a tradename impairment charge of $15,500, which was recorded in impairment of goodwill and tradenames in the accompanying consolidated statements of operations during the year ended December 31, 2023. The Company previously recorded an impairment charge in the second quarter of 2023 of $1,733 for a finite-lived for a tradename in the Capital Markets segment that is no longer used by the Company, which was recorded in impairment of goodwill and tradenames in the accompanying consolidated statements of operations. Goodwill and tradename of the Company’s Targus subsidiary was measured at fair value on a nonrecurring basis as of September 30, 2023 and December 31, 2023. The estimated fair value of goodwill was $26,681 and the estimated fair value of tradename was $19,500 as of December 31, 2023. The estimated fair value of the Company’s Targus reporting unit was calculated using a weighted-average of values determined from an income approach and a market approach. The income approach involves estimating the fair value of the reporting unit by discounting its estimated future cash flows using a discount rate that would be consistent with a market participant’s assumption. The market approach bases the fair value measurement on information obtained from observed stock prices of public companies and recent merger and acquisition transaction data of comparable entities. In order to estimate the fair value of goodwill and tradename, management must make certain estimates and assumptions that affect the total fair value of the reporting unit including, among other things, an assessment of market conditions, projected cash flows, discount rates, and growth rates. The approximate inputs for the fair value calculations of the reporting unit included an approximate growth rate of 4% to calculate the terminal value, a discount rate of approximately 21%, and with respect to tradenames, a royalty rate of approximately 2%. Management’s estimates of projected cash flows related to the reporting unit include, but are not limited to, future earnings of the reporting unit using revenue growth rates, gross margins, and other cost assumptions consistent with the reporting unit's historical trends, and working capital requirements and future capital expenditures necessary to fund future operations. The assumptions in the fair value measurement reflect the current market environment, industry-specific factors and company-specific factors.

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