XML 29 R16.htm IDEA: XBRL DOCUMENT v3.24.3
Goodwill and Intangible Assets, net
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, net Goodwill and Intangible Assets, net
The following table presents identifiable finite and indefinite-lived intangible assets, accumulated amortization, and goodwill by operating segment and/or reporting unit, as appropriate:
As of September 30, 2024As of December 31, 2023
Finite-Lived Intangible Assets:InsuranceOtherTotalInsuranceOtherTotal
Customer relationships$163,863 $— $163,863 $162,844 $— $162,844 
Accumulated amortization(84,543)— (84,543)(74,776)— (74,776)
Trade names16,304 800 17,104 16,227 800 17,027 
Accumulated amortization(9,527)(740)(10,267)(8,452)(680)(9,132)
Software licensing17,793 640 18,433 17,372 640 18,012 
Accumulated amortization(10,590)(640)(11,230)(9,891)(640)(10,531)
Insurance policies and contracts acquired36,500 — 36,500 36,500 — 36,500 
Accumulated amortization(36,500)— (36,500)(36,500)— (36,500)
Other1,112 — 1,112 1,088 — 1,088 
Accumulated amortization(751)— (751)(536)— (536)
Total finite-lived intangible assets93,661 60 93,721 103,876 120 103,996 
Indefinite-Lived Intangible Assets: (1)
Insurance licensing agreements13,761 — 13,761 13,761 — 13,761 
Other— 1,000 1,000 — 1,000 1,000 
Total indefinite-lived intangible assets13,761 1,000 14,761 13,761 1,000 14,761 
Total intangible assets, net$107,422 $1,060 $108,482 $117,637 $1,120 $118,757 
Goodwill 206,857 1,708 208,565 204,447 1,708 206,155 
Total goodwill and intangible assets, net$314,279 $2,768 $317,047 $322,084 $2,828 $324,912 
(1)    Impairment tests are performed at least annually on indefinite-lived intangible assets.

Goodwill

The following table presents the activity in goodwill, by operating segment and/or reporting unit, as appropriate, and includes the adjustments made to the balance of goodwill to reflect the effect of the final valuation adjustments made for acquisitions, as well as the reduction to any goodwill attributable to impairment related charges:
InsuranceOtherTotal
Balance at December 31, 2023
$204,447 $1,708 $206,155 
Foreign currency translation and other2,410 — 2,410 
Balance at September 30, 2024$206,857 $1,708 $208,565 

The Company conducts annual impairment tests of its goodwill as of October 1. For the three and nine months ended September 30, 2024 and 2023, no impairments were recorded on the Company’s goodwill. There was no accumulated impairment recorded in the goodwill balance as of September 30, 2024.

Intangible Assets, net

The following table presents the activity, by operating segment and/or reporting unit, as appropriate, in finite and indefinite-lived other intangible assets and includes the adjustments made to the balance to reflect the effect of any final valuation adjustments made for acquisitions, as well as any reduction attributable to impairment-related charges:
InsuranceOtherTotal
Balance at December 31, 2023
$117,637 $1,120 $118,757 
Amortization expense
(11,557)(60)(11,617)
Foreign currency translation and other1,342 — 1,342 
Balance at September 30, 2024$107,422 $1,060 $108,482 
The following table presents the amortization expense on finite-lived intangible assets for the following periods:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024202320242023
Amortization expense on intangible assets$3,879 $4,879 $11,617 $12,728 

For the three and nine months ended September 30, 2024 and 2023, no impairments were recorded on the Company’s intangible assets. The Company’s accumulated impairment on intangible assets was $728 as of September 30, 2024.

The following table presents the amortization expense on finite-lived intangible assets for the next five years and thereafter by operating segment and/or reporting unit, as appropriate:
As of September 30, 2024
Insurance (1)
OtherTotal
Remainder of 2024$3,837 $20 $3,857 
202513,240 40 13,280 
202610,894 — 10,894 
20279,543 — 9,543 
20288,341 — 8,341 
2029 and thereafter46,101 — 46,101 
Total$91,956 $60 $92,016 
(1)    Does not include foreign currency translation adjustment of $1,705 as of September 30, 2024.