XML 66 R49.htm IDEA: XBRL DOCUMENT v3.20.4
Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Carrying Amount Of Goodwill And Intangible Assets

The carrying amount of goodwill and intangible assets attributable to each of our reporting segments is presented in the following table (in thousands):

 

 

 

December 31,

2019

 

 

Net Adjustments

 

 

Sale of ZCM

 

 

December 31,

2020

 

Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Wealth Management

 

$

344,981

 

 

$

 

 

$

(9,972

)

 

$

335,009

 

Institutional Group

 

 

849,093

 

 

 

(2,104

)

 

 

 

 

 

846,989

 

 

 

$

1,194,074

 

 

$

(2,104

)

 

$

(9,972

)

 

$

1,181,998

 

 

 

 

December 31,

2019

 

 

Adjustments/ Sale of ZCM

 

 

Amortization

 

 

December 31,

2020

 

Intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Wealth Management

 

$

53,279

 

 

$

(1,532

)

 

$

(7,076

)

 

$

44,671

 

Institutional Group

 

 

108,494

 

 

 

363

 

 

 

(12,544

)

 

 

96,313

 

 

 

$

161,773

 

 

$

(1,169

)

 

$

(19,620

)

 

$

140,984

 

Intangible Assets Intangible assets as of December 31, 2020 and 2019, were as follows (in thousands):

 

 

 

December 31, 2020

 

 

December 31, 2019

 

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

Customer relationships

 

$

202,342

 

 

$

85,152

 

 

$

207,253

 

 

$

75,987

 

Trade names

 

 

28,659

 

 

 

15,660

 

 

 

28,659

 

 

 

13,649

 

Non-compete agreements

 

 

9,240

 

 

 

4,229

 

 

 

9,490

 

 

 

2,828

 

Core deposits

 

 

8,615

 

 

 

4,809

 

 

 

8,615

 

 

 

2,985

 

Investment banking backlog

 

 

4,245

 

 

 

2,734

 

 

 

4,245

 

 

 

1,787

 

Acquired technology

 

 

840

 

 

 

373

 

 

 

840

 

 

 

93

 

 

 

$

253,941

 

 

$

112,957

 

 

$

259,102

 

 

$

97,329

 

 

Amortization Expense In Future Periods As of December 31, 2020, we expect amortization expense in future periods to be as follows (in thousands):

 

Fiscal year

 

 

 

 

2021

 

$

17,806

 

2022

 

 

16,454

 

2023

 

 

14,601

 

2024

 

 

13,886

 

2025

 

 

11,826

 

Thereafter

 

 

64,293

 

 

 

$

138,866