Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of the Company's goodwill by segment are as follows:


	Institutional Investors		Investment Managers		Investments in New Businesses		Total

Balance, December 31, 2023	$	61,884	$	56,990	$	18,459	$	137,333
Measurement period adjustments	25		—		—		25
Reclassification due to segment reorganization	—		(1,711)		1,711		—
Foreign currency translation adjustments	(103)		(1)		—		(104)
Balance, June 30, 2024	$	61,806	$	55,278	$	20,170	$	137,254

The reclassification of the Company's goodwill by segment during the six months ended June 30, 2024 reflects the relative fair value allocation of the goodwill related to the businesses that were reclassified into the new segment (See Note 9).

In November 2023, the Company's wholly-owned operating subsidiary in the United Kingdom, SIEL, acquired all of the outstanding equity of XPS Pensions (Nexus) Limited, principal employer and scheme funder of the National Pensions Trust (NPT), from its parent company, XPS Pensions Group PLC (XPS). The total purchase price for XPS Pensions (Nexus) Limited included a contingent consideration payable to the sellers subject to the achievement of certain post-closing performance measurements determined during intervals occurring within two years immediately following the closing date. As of June 30, 2024, the current portion of the contingent consideration of $379 is included in Accrued liabilities on the accompanying Balance Sheet. The long-term portion of the contingent consideration of $2,623 is included in Other long-term liabilities on the accompanying Balance Sheet.

The Company recognized $6,790 and $6,113 of amortization expense related to acquired intangible assets during the six months ended June 30, 2024 and 2023, respectively.