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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

10.

GOODWILL AND OTHER INTANGIBLE ASSETS

The components of goodwill and other intangible assets at December 31, 2022 and 2021 are presented below:

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

Goodwill

 

$

377,240

 

 

$

379,421

 

Other intangible assets (net of accumulated

   amortization)

 

 

90

 

 

 

150

 

 

 

$

377,330

 

 

$

379,571

 

 

At December 31, 2022 and 2021, goodwill of $312,699 and $314,880, 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 years ended December 31, 2022, 2021 and 2020 are as follows:

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

Balance, January 1

 

$

379,421

 

 

$

383,861

 

 

$

371,773

 

Foreign currency translation adjustments

 

 

(2,181

)

 

 

(4,440

)

 

 

12,088

 

Balance, December 31

 

$

377,240

 

 

$

379,421

 

 

$

383,861

 

 

All changes in the carrying amount of goodwill for the years ended December 31, 2022, 2021 and 2020 are attributable to the Company’s Financial Advisory segment.

The Company evaluates goodwill for impairment annually or more frequently if circumstances indicate that impairment may have occurred. Pursuant to the Company’s goodwill impairment review for the years ended December 31, 2022, 2021 and 2020, the Company determined that no impairment existed.

 

          Amortization expense of intangible assets, included in “amortization of intangible assets related to acquisitions” in the consolidated statements of operations, for the years ended December 31, 2022, 2021 and 2020 was $60, $60 and $1,795, respectively.