PIPER SANDLER COMPANIES

NOTE 11| GOODWILL AND INTANGIBLE ASSETS

As discussed in Note 4, the addition of goodwill and intangible assets during the year ended December 31, 2022 related to the acquisitions of DBO Partners, Stamford Partners and Cornerstone Macro. Management identified $10.4 million of customer relationship intangible assets related to the acquisition of DBO Partners, which are being amortized over a weighted average life of 1.1 years. Management identified $1.8 million of customer relationship intangible assets related to the acquisition of Stamford Partners, which were amortized over a weighted average life of 0.8 years. Management identified $19.0 million of customer relationship intangible assets related to the acquisition of Cornerstone Macro, which are being amortized over a weighted average life of 7.2 years. In 2023, the Company recorded a measurement period adjustment to increase the value of the contingent consideration and goodwill related to the acquisition of DBO Partners. The Company also recorded a measurement period adjustment related to Stamford Partners in 2023, which resulted in an increase to goodwill.

At December 31, 2023, intangible assets with determinable lives consisted of customer relationships. The following table summarizes the future aggregate amortization expense of the Company's intangible assets with determinable lives:

Indefinite-lived intangible assets consist of the Sandler trade name of $85.4 million, which is not subject to amortization.

The Company performed its annual impairment testing as of October 31, which resulted inno impairment related to goodwill or indefinite-lived intangible assets in 2023, 2022 and 2021.