Goodwill and Identifiable Intangible Assets

3 Months Ended

Mar. 31, 2020

Goodwill and Identifiable Intangible Assets

Goodwill and Identifiable Intangible Assets

6. Goodwill and Identifiable Intangible Assets

Goodwill represents the excess of purchase price over the tangible assets and identifiable intangible assets of an acquired business.  Our goodwill is not deductible for tax purposes.  The Company performs an annual goodwill impairment assessment during the second quarter of each year.  Given the impacts of COVID-19, the Company also performed an interim goodwill impairment assessment in accordance with ASU 2017-04.  Goodwill and identifiable intangible assets (all considered indefinite lived) at March 31, 2020 and December 31, 2019 are as follows:

	March 31,		December 31,
	2020		2019
	(in thousands)
Goodwill	$	106,970	106,970
Mutual fund management advisory contracts		38,699	38,699
Other		200	200
Total identifiable intangible assets		38,899	38,899
Total	$	145,869	145,869