Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

GOODWILL AND OTHER INTANGIBLE ASSETS, NETA summary of changes in the carrying amount of goodwill by operating segment for the years ended December 31, 2021 and 2020 were as follows (in thousands): 

	Financial Services		Benefits and Insurance Services		National Practices		Total Goodwill
Gross	$	378,294	$	260,033	$	33,873	$	672,200
Accumulated impairment	$	(44,047)	$	(7,733)	$	(32,207)	$	(83,987)
Net at December 31, 2019	$	334,247	$	252,300	$	1,666	$	588,213
Additions	34,785		62,654		—		97,439
Divestitures and other adjustment	(993)		(1,576)		—		(2,569)
Gross	412,086		321,111		33,873		767,070
Accumulated impairment	(44,047)		(7,733)		(32,207)		(83,987)
Net at December 31, 2020	$	368,039	$	313,378	$	1,666	$	683,083
Additions	58,646		1,800		—		60,446
Divestitures and other adjustment	—		(2,786)		—		(2,786)
Gross	470,732		320,125		33,873		824,730
Accumulated impairment	(44,047)		(7,733)		(32,207)		(83,987)
Net at December 31,2021	$	426,685	$	312,392	$	1,666	$	740,743

We review goodwill at the reporting unit level at least annually, as of November 1, for impairment. We had five reporting units at November 1, 2021. No goodwill impairment was recognized as a result of the annual evaluation.

The components of goodwill and other intangible assets, net at December 31, 2021 and 2020 were as follows (in thousands):

	2021		2020
Goodwill	$	740,743	$	683,083
Intangibles :
Client lists	249,422		207,084
Other intangibles	11,454		11,244
Total intangibles	260,876		218,328
Total goodwill and other intangibles assets	1,001,619		901,411
Accumulated amortization:
Client lists	(152,326)		(137,284)
Other intangibles	(8,510)		(7,377)
Total accumulated amortization	(160,836)		(144,661)
Goodwill and other intangible assets, net	$	840,783	$	756,750

Amortization expense for client lists and other intangible assets was $16.3 million, $13.6 million and $14.1 million in 2021, 2020 and 2019, respectively. The weighted-average useful lives of total intangible assets, client lists and other intangible assets were 7.4 years, 7.5 years and 5.0 years, respectively. Other intangible assets are amortized over periods ranging from 3 to 15 years. Based on the amount of intangible assets subject to amortization at December 31, 2021, the estimated amortization expense is $16.7 million for 2022, $15.5 million for 2023, $13.8 million for 2024, $12.3 million for 2025 and $10.4 million for 2026.