GOODWILL, RADIO BROADCASTING LICENSES AND OTHER INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2022

GOODWILL, RADIO BROADCASTING LICENSES AND OTHER INTANGIBLE ASSETS

GOODWILL, RADIO BROADCASTING LICENSES AND OTHER INTANGIBLE ASSETS

3.    GOODWILL AND RADIO BROADCASTING LICENSES:

Impairment Testing

In accordance with ASC 350, “Intangibles - Goodwill and Other,” we do not amortize our indefinite-lived radio broadcasting licenses and goodwill. Instead, we perform a test for impairment annually across all reporting units, or on an interim basis when events or changes in circumstances or other conditions suggest impairment may have occurred in any given reporting unit. Other intangible assets continue to be amortized on a straight-line basis over their useful lives. We perform our annual impairment test as of October 1 of each year. We evaluate all events and circumstances on an interim basis to determine if an interim indicator is present.

Valuation of Broadcasting Licenses

We did not identify any impairment indicators for the three months ended March 31, 2022 and 2021, and, therefore, no interim impairment testing was performed.

Valuation of Goodwill

We did not identify any impairment indicators at any of our reportable segments for the three months ended March 31, 2022 and 2021, and therefore, no interim impairment testing was performed.

Goodwill Valuation Results

The table below presents the changes in the Company’s goodwill carrying values for its four reportable segments.

	Radio		Reach				Cable
	Broadcasting		Media		Digital		Television
	Segment		Segment		Segment		Segment		Total
	(In thousands)
Gross goodwill	$	155,000	$	30,468	$	27,567	$	165,044	$	378,079
Additions		—		—		—		—		—
Impairments		—		—		—		—		—
Accumulated impairment losses		(117,748)		(16,114)		(20,345)		—		(154,207)
Audacy asset exchange		(470)		—		—		—		(470)
Net goodwill at March 31, 2022	$	36,782	$	14,354	$	7,222	$	165,044	$	223,402