Goodwill and Intangible Assets |
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| Intangible Assets | 听 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets |
(8)听听Goodwill and Other Intangible Assets Goodwill Changes in the carrying amount of goodwill are as follows:
Other Intangible Assets Not Subject to Amortization Other intangible assets not subject to amortization, not separately disclosed, are trademarks ($1,242 million) at December听31, 2023 and 2022 and franchise rights owned by Braves Holdings ($124 million) as of December听31, 2022. We identified these assets as indefinite life intangible assets after considering the expected use of the assets, the regulatory and economic environment within which they are used and the effects of obsolescence on their use. Sirius XM Holdings鈥 Federal Communications Commission (鈥淔CC鈥) licenses for its Sirius satellites expire in 2025 and 2030 and the FCC licenses for its XM satellites expire in 2026 and 2029. Prior to expiration, Sirius XM Holdings is required to apply for a renewal of its FCC licenses. The renewal and extension of its licenses is reasonably certain at minimal cost, which is expensed as incurred. Each of the FCC licenses authorizes Sirius XM Holdings to use the broadcast spectrum, which is a renewable, reusable resource that does not deplete or exhaust over time. Intangible Assets Subject to Amortization Intangible assets subject to amortization are comprised of the following:
The FIA Agreement is amortized over 35 years, customer relationships are amortized over -15 years and licensing agreements are amortized over 15 years. Amortization expense was $760听million, $782听million and $802听million for the years ended December听31, 2023, 2022 and 2021, respectively. Based on its amortizable intangible assets as of December听31, 2023, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):
Impairments
As of December 31, 2023, accumulated goodwill impairment losses for Liberty totaled $956 million and related entirely to the Sirius XM Holdings reportable segment. |
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