Impairment Charges

12 Months Ended

Dec. 31, 2020

Supplemental Income Statement Elements [Abstract]

Impairment Charges

Impairment Charges

In 2020, as a result of the continuing impact of the COVID-19 pandemic, the Company qualitatively assessed whether it was more likely than not that goodwill and long-lived assets were impaired as of June 30, 2020. As a result of that assessment, the Company incurred impairment charges of $122.2 million, consisting of $25.1 million related to goodwill impairment and $97.1 million primarily related to certain identifiable intangible assets, as well as property and equipment, and operating lease right-of-use assets, all of which were associated with the AMCNI reporting unit.

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 2019 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.