Impairment and Related Charges

12 Months Ended

Dec. 31, 2019

Supplemental Income Statement Elements [Abstract]

Impairment and Related Charges

Impairment and Related Charges

In 2019, the Company incurred impairment charges of $106.6 million, consisting of $98.0 million related to goodwill impairment associated with the AMCNI reporting unit, and $8.6 million related to impairments of intangibles and property and equipment associated with the sale of a subsidiary.

In connection with the preparation of the fourth quarter financial information, the Company performed its annual goodwill impairment test and concluded that the estimated fair value of the AMCNI reporting unit declined to less than its carrying amount. As a result, the Company recognized an impairment charge of $98.0 million for the year ended December 31, 2019, reflecting a partial write-down of the goodwill associated with the AMCNI reporting unit.

In 2018, AMCNI recognized a $4.5 million charge, primarily related to program rights, in connection with the disposition of a business.

In 2017, the Company completed the sale of its Amsterdam-based media logistics business, AMCNI – DMC. In connection with the sale, the Company recognized a pre-tax loss of $11.0 million and an impairment charge of $17.1 million to reflect the AMCNI – DMC assets held for sale at fair value less estimated sale costs, which are included in impairment and related charges in the consolidated statement of income for the year ended December 31, 2017.