INTANGIBLE ASSETS AND GOODWILL

6 Months Ended

Jun. 25, 2017

2. INTANGIBLE ASSETS AND GOODWILL

Intangible assets subject to amortization (primarily advertiser lists, subscriber lists and developed technology), mastheads and goodwill consisted of the following:


	December 25,		Acquisition		Amortization		June 25,
(in thousands)	2016		Adjustments		Expense		2017
Intangible assets subject to amortization	$	839,273	$	11	$	—	$	839,284
Accumulated amortization		(711,723)		—		(24,176)		(735,899)
		127,550		11		(24,176)		103,385
Mastheads		171,436		—		—		171,436
Goodwill		705,174		—		—		705,174
Total	$	1,004,160	$	11	$	(24,176)	$	979,995

Amortization expense with respect to intangible assets is summarized below:


	Quarters Ended				Six Months Ended
	June 25,		June 26,		June 25,		June 26,
(in thousands)	2017		2016		2017		2016
Amortization expense	$	12,093	$	11,996	$	24,176	$	23,994

The estimated amortization expense for the remainder of fiscal year 2017 and the five succeeding fiscal years is as follows:


	Amortization
	Expense
Year	(in thousands)
2017 (Remainder)	$	25,114
2018		47,660
2019		24,154
2020		803
2021		680
2022		655

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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