| GOODWILL AND OTHER INTANGIBLE ASSETS |
NOTE 9—GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill A summary of the Company’s goodwill by reportable segments as of and for the six months ended June 30, 2026 and 2025 follows: | | | | | | | | | | | | | | | | | | | | | As of and for the six months ended June 30, | (in thousands) | | 2026 | | 2025 | Roll Forward of Gross Goodwill | | CM | | SAM | | Consolidated(1) | | CM | | SAM | | Consolidated(1) | Beginning balance | | $ | 524,189 | | $ | 439,521 | | $ | 963,710 | | $ | 524,189 | | $ | 439,521 | | $ | 963,710 | Additions from acquisitions | | | — | | | — | | | — | | | — | | | — | | | — | Ending gross goodwill balance | | $ | 524,189 | | $ | 439,521 | | $ | 963,710 | | $ | 524,189 | | $ | 439,521 | | $ | 963,710 | | | | | | | | | | | | | | | | | | | | Roll Forward of Accumulated Goodwill Impairment | | | | | | | | | | | | | | | | | | | Beginning balance | | $ | 95,000 | | $ | — | | $ | 95,000 | | $ | 95,000 | | $ | — | | $ | 95,000 | Impairment | | | — | | | — | | | — | | | — | | | — | | | — | Ending accumulated goodwill impairment | | $ | 95,000 | | $ | — | | $ | 95,000 | | $ | 95,000 | | $ | — | | $ | 95,000 | | | | | | | | | | | | | | | | | | | | Goodwill | | $ | 429,189 | | $ | 439,521 | | $ | 868,710 | | $ | 429,189 | | $ | 439,521 | | $ | 868,710 |
| (1) | For all the periods presented, no goodwill was allocated to the Corporate reportable segment. |
Other Intangible Assets Activity related to other intangible assets for the six months ended June 30, 2026 and 2025 follows: | | | | | | | | | As of and for the six months ended | | | June 30, | Roll Forward of Other Intangible Assets (in thousands) | | 2026 | | 2025 | Beginning balance | | $ | 141,877 | | $ | 156,893 | Amortization | | | (7,508) | | | (7,508) | Ending balance | | $ | 134,369 | | $ | 149,385 |
The following table summarizes the gross value, accumulated amortization, and net carrying value of the Company’s other intangible assets as of June 30, 2026 and December 31, 2025: | | | | | | | Components of Other Intangible Assets (in thousands) | | June 30, 2026 | | December 31, 2025 | Gross value | | $ | 203,198 | | $ | 208,782 | Accumulated amortization | | | (68,829) | | | (66,905) | Net carrying value | | $ | 134,369 | | $ | 141,877 |
The expected amortization of other intangible assets shown on the Condensed Consolidated Balance Sheet as of June 30, 2026 is shown in the table below. Actual amortization may vary from these estimates. | | | | (in thousands) | | Expected | Six Months Ending December 31, | | Amortization | 2026 | | $ | 7,508 | Year Ending December 31, | | | | 2027 | | $ | 15,016 | 2028 | | | 15,016 | 2029 | | | 14,952 | 2030 | | | 14,946 | 2031 | | | 14,257 | Thereafter | | | 52,674 | Total | | $ | 134,369 |
Contingent Consideration Liabilities A summary of the Company’s contingent consideration liabilities, which are included in Other liabilities on the Condensed Consolidated Balance Sheets, for the six months ended June 30, 2026 and 2025 follows: | | | | | | | | | | As of and for the six months ended | | | | June 30, | | Roll Forward of Contingent Consideration Liabilities (in thousands) | | 2026 | | 2025 | | Beginning balance | | $ | 9,663 | | $ | 30,537 | | Accretion | | | 29 | | | 81 | | Fair value adjustments | | | 106 | | | — | | Payments | | | (8,646) | | | (10,954) | | Ending balance | | $ | 1,152 | | $ | 19,664 | |
The contingent consideration liabilities presented in the table above relate to acquisitions of investment sales brokerage companies and other acquisitions, all completed over the past several years. The contingent consideration for each of the acquisitions may be earned over various lengths of time after each acquisition, with a maximum earnout period of five years, provided certain revenue targets and other metrics have been met. The last of the earnout periods related to the contingent consideration ends in the third quarter of 2027.
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