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Goodwill and Other Intangible Assets
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
Amortization of intangible assets for the three months ended March 31, 2023 and 2022, was $13.9 million and $14.9 million, respectively. Amortization of intangible assets is estimated to be approximately $36 million for the remainder of 2023, $37 million in 2024, $29 million in 2025, $20 million in 2026, $6 million in 2027 and $20 million thereafter.
The changes in the carrying amount of goodwill, by segment, were as follows:
(in thousands)EducationTelevision
Broadcasting
ManufacturingHealthcareAutomotiveOther
Businesses
Total
Balance as of December 31, 2022        
Goodwill$1,145,502 $190,815 $234,993 $135,870 $84,697 $251,216 $2,043,093 
Accumulated impairment losses
(331,151)— (34,302)— — (116,687)(482,140)
814,351 190,815 200,691 135,870 84,697 134,529 1,560,953 
Acquisitions   385   385 
Foreign currency exchange rate changes
6,256      6,256 
Balance as of March 31, 2023        
Goodwill1,151,758 190,815 234,993 136,255 84,697 251,216 2,049,734 
Accumulated impairment losses
(331,151) (34,302)  (116,687)(482,140)
$820,607 $190,815 $200,691 $136,255 $84,697 $134,529 $1,567,594 
The changes in carrying amount of goodwill at the Company’s education division were as follows:
(in thousands)Kaplan
International
Higher
Education
Supplemental EducationTotal
Balance as of December 31, 2022      
Goodwill$579,561 $174,564 $391,377 $1,145,502 
Accumulated impairment losses— (111,324)(219,827)(331,151)
579,561 63,240 171,550 814,351 
Foreign currency exchange rate changes6,252  4 6,256 
Balance as of March 31, 2023      
Goodwill585,813 174,564 391,381 1,151,758 
Accumulated impairment losses (111,324)(219,827)(331,151)
$585,813 $63,240 $171,554 $820,607 
Other intangible assets consist of the following:
As of March 31, 2023As of December 31, 2022
(in thousands)Useful Life
Range
Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
 Carrying
Amount
Amortized Intangible Assets              
Student and customer relationships
2–10 years
$298,022 $236,486 $61,536 $297,766 $230,429 $67,337 
Trade names and trademarks
2–15 years
148,286 84,833 63,453 148,102 81,078 67,024 
Network affiliation agreements
10 years
17,400 11,112 6,288 17,400 10,367 7,033 
Databases and technology
3–6 years
36,251 33,714 2,537 36,216 32,219 3,997 
Noncompete agreements
2–5 years
20 16 4 1,000 995 
Other
1–8 years
43,644 29,909 13,735 43,644 27,618 16,026 
    $543,623 $396,070 $147,553 $544,128 $382,706 $161,422 
Indefinite-Lived Intangible Assets
              
Franchise agreements$85,858 $85,858 
Trade names and trademarks  83,009     81,905     
FCC licenses11,000 11,000 
Licensure and accreditation  150     150     
Other21 21 
  $180,038 $178,934