Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

9. GOODWILL AND OTHER INTANGIBLE ASSETS

The components of goodwill and other intangible assets at September 30, 2018 and December 31, 2017 are presented below:

	September 30,		December 31,
	2018		2017
Goodwill	$	374,994	$	385,292
Other intangible assets (net of accumulated amortization)		4,247		6,072
	$	379,241	$	391,364

At September 30, 2018 and December 31, 2017, goodwill of $310,453 and $320,751, respectively, was attributable to the Company’s Financial Advisory segment and, at each such respective date, $64,541 of goodwill was attributable to the Company’s Asset Management segment.

Changes in the carrying amount of goodwill for the nine month periods ended September 30, 2018 and 2017 are as follows:

	Nine Months Ended
	September 30,
	2018			2017
Balance, January 1	$	385,292		$	373,117
Foreign currency translation adjustments		(10,298	)		12,369
Balance, September 30	$	374,994		$	385,486

All changes in the carrying amount of goodwill for the nine month periods ended September 30, 2018 and 2017 are attributable to the Company’s Financial Advisory segment.

The gross cost and accumulated amortization of other intangible assets as of September 30, 2018 and December 31, 2017, by major intangible asset category, are as follows:

	September 30, 2018						December 31, 2017
	Gross Cost		Accumulated Amortization		Net Carrying Amount		Gross Cost		Accumulated Amortization		Net Carrying Amount
Success/incentive fees	$	35,335	$	31,922	$	3,413	$	35,422	$	29,723	$	5,699
Management fees, customer relationships    and non-compete agreements		34,488		33,654		834		33,749		33,376		373
	$	69,823	$	65,576	$	4,247	$	69,171	$	63,099	$	6,072

Amortization expense of intangible assets, included in “amortization and other acquisition-related (benefits) costs” in the condensed consolidated statements of operations, for the three month and nine month periods ended September 30, 2018 was $856 and $2,552, respectively, and for the three month and nine month periods ended September 30, 2017 was $784 and $2,435, respectively. Estimated future amortization expense is as follows:

Year Ending December 31,	Amortization Expense (a)
2018 (October 1 through December 31)	$	484
2019		1,724
2020		1,701
2021		150
2022		150
2023		38
Total amortization expense	$	4,247

(a) Approximately 38% of intangible asset amortization is attributable to a noncontrolling interest.