Company: HLI
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001302215-25-000024
Chunk: 118

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-05-15
Form: 10-K
Item: Item 9
Chunk 118
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(80,533)(68,309)Total net book value$149,350 $136,701 Additions to property and equipment during the years ended March 31, 2025 and March 31, 2024 were primarily related to leasehold improvement costs incurred.

Depreciation expense of $21,942, $17,782, and $13,250 was recognized during the years ended March 31, 2025, 2024, and 2023, respectively.

Note 9 — Goodwill and Other Intangible Assets

The following table provides a reconciliation of Goodwill and other intangible assets, net reported on the Consolidated Balance Sheets.Useful LivesMarch 31, 2025March 31, 2024GoodwillIndefinite$1,284,589 $1,127,497 Tradename-Houlihan LokeyIndefinite192,210 192,210 Other intangible assetsVaries133,785 98,897 Total cost1,610,584 1,418,604 Less: accumulated amortization(113,325)(93,668)Goodwill and other intangible assets, net$1,497,259 $1,324,936 Amortization expense of approximately $19,328, $10,754, and $44,971 was recognized for finite-lived intangible assets for the years ended March 31, 2025, 2024, and 2023, respectively. The estimated future amortization for finite-lived intangible assets for each of the next five years and thereafter are as follows:Year Ended March 31,2026$13,990 2027834 2028682 2029657 2030 and thereafter3,993 

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Table of ContentsHOULIHAN LOKEY, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)(In thousands, except share data or as otherwise stated)

Goodwill attributable to the Company’s business segments is as follows:April 1, 2024ChangeMarch 31, 2025Corporate Finance (1)$872,967 $145,016 $1,017,983 Financial Restructuring162,815 — 162,815 Financial and Valuation Advisory (2)91,715 12,076 103,791 Goodwill$1,127,497 $157,092