Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill

The Company's goodwill by segment (for the segments that had recorded goodwill) is as follows:

	March 31, 2024		December 31, 2023
Executive Search
Americas	$	91,547	$	91,740
Europe	1,460		1,494
Total Executive Search	93,007		93,234
On-Demand Talent	107,082		109,018
Heidrick Consulting	7,246		7,246
Goodwill, gross	207,335		209,498
Accumulated impairment	(7,246)		(7,246)
Total goodwill	$	200,089	$	202,252

Changes in the carrying amount of goodwill by segment (for the segments that had recorded goodwill) for the three months ended March 31, 2024, are as follows:

	Executive Search				On-Demand Talent		Heidrick Consulting
	Americas		Europe						Total
Goodwill	$	91,740	$	1,494	$	109,018	$	7,246	$	209,498
Accumulated impairment losses	—		—		—		(7,246)		(7,246)
Balance at December 31, 2023	91,740		1,494		109,018		—		202,252
Foreign currency translation	(193)		(34)		(1,936)		—		(2,163)
Goodwill	91,547		1,460		107,082		7,246		207,335
Accumulated impairment losses	—		—		—		(7,246)		(7,246)
Balance at March 31, 2024	$	91,547	$	1,460	$	107,082	$	—	$	200,089

Other Intangible Assets, net

The Company’s other intangible assets, net by segment, are as follows:

	March 31, 2024		December 31, 2023
Executive Search
Americas	$	17	$	22
Europe	79		95
Total Executive Search	96		117
On-Demand Talent	15,541		17,689
Heidrick Consulting	2,668		3,036
Total other intangible assets, net	$	18,305	$	20,842

The carrying amount of amortizable intangible assets and the related accumulated amortization are as follows:

	Weighted Average Life (Years)	March 31, 2024						December 31, 2023
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Client relationships	10.1	$	25,819	$	(12,489)	$	13,330	$	26,195	$	(11,443)	$	14,752
Trade name	3.0	4,996		(3,317)		1,679		5,067		(3,069)		1,998
Software	3.0	8,504		(5,208)		3,296		8,629		(4,537)		4,092
Total intangible assets	8.2	$	39,319	$	(21,014)	$	18,305	$	39,891	$	(19,049)	$	20,842

Intangible asset amortization expense for the three months ended March 31, 2024, and 2023, was $2.3 million and $1.9 million, respectively.

The Company's estimated future amortization expense related to intangible assets as of March 31, 2024, for the following years ended December 31, is as follows:

2024	$	5,458
2025	5,863
2026	2,486
2027	1,512
2028	885
Thereafter	2,101
Total	$	18,305