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Intangible Assets and Goodwill
9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill

Note 4: Intangible Assets and Goodwill

The Company’s definite-lived intangible assets consisted of the following (dollars in millions):

 

 

Estimated

 

September 30, 2024

 

 

December 31, 2023

 

 

 

useful life,

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

in years

 

Gross

 

 

Amortization

 

 

Net

 

 

Gross

 

 

Amortization

 

 

Net

 

Network affiliation agreements

 

15

 

$

3,125

 

 

$

(1,584

)

 

$

1,541

 

 

$

3,125

 

 

$

(1,442

)

 

$

1,683

 

Other definite-lived intangible assets

 

1-20

 

 

1,106

 

 

 

(735

)

 

 

371

 

 

 

1,093

 

 

 

(652

)

 

 

441

 

Definite-lived intangible assets

 

 

$

4,231

 

 

$

(2,319

)

 

$

1,912

 

 

$

4,218

 

 

$

(2,094

)

 

$

2,124

 

The following table presents the Company’s estimate of amortization expense for the remainder of 2024, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of September 30, 2024 (in millions):

 

Remainder of 2024

 

$

73

 

2025

 

 

287

 

2026

 

 

267

 

2027

 

 

253

 

2028

 

 

237

 

2029

 

 

222

 

Thereafter

 

 

573

 

 

 

$

1,912

 

 

The amounts recorded to goodwill and FCC licenses were as follows (in millions):

 

 

Goodwill

 

 

FCC Licenses

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

Gross

 

 

Impairment

 

 

Net

 

 

Gross

 

 

Impairment

 

 

Net

 

Balances as of December 31, 2023

 

$

3,145

 

 

$

(199

)

 

$

2,946

 

 

$

2,977

 

 

$

(48

)

 

$

2,929

 

Balances as of September 30, 2024

 

$

3,145

 

 

$

(199

)

 

$

2,946

 

 

$

2,977

 

 

$

(48

)

 

$

2,929

 

Indefinite-lived intangible assets are not subject to amortization but are tested for impairment annually or whenever events or changes in circumstances indicate that such assets might be impaired. During the three and nine months ended September 30, 2024, the Company did not identify events that would trigger impairment assessments.