Goodwill and Other Intangible Assets

Goodwill

On January 4, 2019, we completed the acquisition of Leerink Holdings LLC, the Boston-based parent company of healthcare and life science investment bank Leerink Partners LLC, now SVB Leerink. We recognized provisional identifiable intangible assets of $60.9 million and goodwill of $135.2 million as a result of the acquisition. For additional information, refer to Note 2—“Business Combination” of the “Notes to Interim Consolidated Financial Statements (unaudited)” under Part I, Item 1 of this report. The goodwill of $135.2 million includes revenue generating synergies expected from collaboration between SVB Leerink and the Company.

The changes in goodwill were as follows for the three months ended March 31, 2019:



(Dollars in thousands)	Goodwill
Beginning balance at December 31, 2018	$	—
Acquisitions (1)	135,190
Ending balance at March 31, 2019	$	135,190


(1)	All reported goodwill amounts have been allocated to the SVB Leerink reporting segment and are expected to be deductible for tax purposes. Refer to Note 15—“Segment Reporting” of the “Notes to Interim Consolidated Financial Statements (unaudited)” under Part I, Item 1 of this report for additional information.

Other Intangible Assets

The components of net other intangible assets related to the acquisition of SVB Leerink were as follows:



	March 31, 2019
(Dollars in thousands)	Gross Amount		Accumulated Amortization		Net Carrying Amount
Other intangible assets:
Customer relationships	$	42,000	$	955	$	41,045
Other	18,900		1,916		16,984
Total other intangible assets	$	60,900	$	2,871	$	58,029

For the three months ended March 31, 2019, we recorded amortization expense of $2.9 million. Assuming no future impairments of other intangible assets or additional acquisitions or dispositions, the following table presents the Company's future expected amortization expense for other intangible assets that will continue to be amortized:



Years ended December 31, (Dollars in thousands)	Other Intangible Assets
2019 (excluding the three months ended March 31, 2019)	$	8,612
2020	5,382
2021	4,732
2022	4,732
2023	4,732
2024 and thereafter	29,839
Total future amortization expense	$	58,029