Annual report pursuant to Section 13 and 15(d)

Goodwill

v3.3.1.900
Goodwill
 12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Asset Impairment [Abstract]  
Goodwill
Goodwill

Changes to the carrying amount of goodwill during the years ended December 31, 2015 and 2014 are as follows:

 
 
Ladenburg
 
Independent Brokerage and Advisory Services
 
Insurance Brokerage
 
Total
Balance as of January 1, 2014
 
$
301

 
$
90,200

 
$
—

 
$
90,501

Benefit applied to reduce goodwill
 
—

 
(68
)
 
—

 
(68
)
Business acquisitions
 
—

 
13,290

 
11,515

 
24,805

Balance as of December 31, 2014
 
$
301

 
$
103,422

 
$
11,515

 
$
115,238

Benefit applied to reduce goodwill
 
—

 
(78
)
 
—

 
(78
)
Adjustments related to allocation of KMS and Highland purchase price
 
—

 
(68
)
 
1,184

 
1,116

Business acquisitions
 
—

 
9,296

 


 
9,296

Balance as of December 31, 2015
 
$
301

 
$
112,572

 
$
12,699

 
$
125,572



The annual impairment tests performed at December 31, 2015 and 2014, based on quantitative and qualitative assessments, did not indicate that the carrying value of goodwill had been impaired. However, changes in circumstances or business conditions could result in an impairment of goodwill.

In 2015 and 2014, the carrying amount of goodwill was reduced by $78 and $68, respectively, representing state tax benefit realized for the excess of tax deductible goodwill over goodwill recognized for reporting purposes with respect to the Company’s subsidiaries.