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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Components of Goodwill and Other Intangible Assets

The components of goodwill and other intangible assets at December 31, 2017 and 2016 are presented below:

 

 

 

December 31,

 

 

 

2017

 

 

2016

 

Goodwill

 

$

385,292

 

 

$

373,117

 

Other intangible assets (net of accumulated

   amortization)

 

 

6,072

 

 

 

8,907

 

 

 

$

391,364

 

 

$

382,024

 

 

Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the years ended December 31, 2017, 2016 and 2015 are as follows:

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Balance, January 1

 

$

373,117

 

 

$

320,761

 

 

$

335,402

 

Business acquisitions

 

 

-

 

 

 

54,631

 

 

 

-

 

Foreign currency translation adjustments

 

 

12,175

 

 

 

(2,275

)

 

 

(14,641

)

Balance, December 31

 

$

385,292

 

 

$

373,117

 

 

$

320,761

 

 

Gross Cost and Accumulated Amortization of Other Intangible Assets

The gross cost and accumulated amortization of other intangible assets as of December 31, 2017 and 2016, by major intangible asset category, are as follows:

 

 

 

December 31, 2017

 

 

December 31, 2016

 

 

 

Gross

Cost

 

 

Accumulated

Amortization

 

 

Net

Carrying

Amount

 

 

Gross

Cost

 

 

Accumulated

Amortization

 

 

Net

Carrying

Amount

 

Success/incentive fees

 

$

35,422

 

 

$

29,723

 

 

$

5,699

 

 

$

35,259

 

 

$

26,984

 

 

$

8,275

 

Management fees, customer relationships and

   non-compete agreements

 

 

33,749

 

 

 

33,376

 

 

 

373

 

 

 

33,728

 

 

 

33,096

 

 

 

632

 

 

 

$

69,171

 

 

$

63,099

 

 

$

6,072

 

 

$

68,987

 

 

$

60,080

 

 

$

8,907

 

 

Estimated Future Amortization Expense

Estimated future amortization expense is as follows:

Year Ending December 31,

 

Amortization

Expense (a)

 

2018

 

$

2,941

 

2019

 

 

1,577

 

2020

 

 

1,554

 

Total amortization expense

 

$

6,072

 

 

(a)

Approximately 35% of intangible asset amortization is attributable to a noncontrolling interest.