Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The carrying amount of goodwill, by operating segment is as follows:

(In thousands)	Domestic Operations		International and Other		Total
December 31, 2021	$	353,470	$	355,874	$	709,344
Purchase accounting adjustments	(1,086)		—		(1,086)
Amortization of "second component" goodwill	(672)		—		(672)
Foreign currency translation	—		(23,350)		(23,350)
June 30, 2022	$	351,712	$	332,524	$	684,236

As of June 30, 2022 and December 31, 2021, accumulated impairment charges in the International and Other segment totaled $123.1 million.

The purchase accounting adjustments of $1.1 million to the carrying amount of goodwill in Domestic Operations relate to the acquisition of Sentai Holdings, a global supplier of anime content, including its anime-focused HIDIVE subscription streaming service, for which the allocation of goodwill is preliminary and is based on current estimates and currently available information, and is subject to revision based on final allocation of the purchase price to identifiable assets and liabilities acquired.

The reduction of $0.7 million in the carrying amount of goodwill for Domestic Operations is due to the realization of a tax benefit for the amortization of "second component" goodwill at SundanceTV. Second component goodwill is the amount of tax deductible goodwill in excess of goodwill for financial reporting purposes. In accordance with the authoritative guidance at the time of the SundanceTV acquisition, the tax benefits associated with this excess are applied to first reduce the amount of goodwill, and then other intangible assets for financial reporting purposes, if and when such tax benefits are realized in the Company's tax returns.

The following tables summarize information relating to the Company's identifiable intangible assets:

(In thousands)	June 30, 2022
	Gross		Accumulated Amortization		Net		Estimated Useful Lives
Amortizable intangible assets:
Affiliate and customer relationships	$	634,476	$	(358,987)	$	275,489	6 to 25 years
Advertiser relationships	46,282		(32,339)		13,943		11 years
Trade names and other amortizable intangible assets	108,246		(43,230)		65,016		3 to 20 years
Total amortizable intangible assets	789,004		(434,556)		354,448
Indefinite-lived intangible assets:
Trademarks	19,900		—		19,900
Total intangible assets	$	808,904	$	(434,556)	$	374,348
(In thousands)	December 31, 2021
	Gross		Accumulated Amortization		Net
Amortizable intangible assets:
Affiliate and customer relationships	$	649,543	$	(354,673)	$	294,870
Advertiser relationships	46,282		(30,235)		16,047
Trade names and other amortizable intangible assets	111,151		(42,534)		68,617
Total amortizable intangible assets	806,976		(427,442)		379,534
Indefinite-lived intangible assets:
Trademarks	19,900		—		19,900
Total intangible assets	$	826,876	$	(427,442)	$	399,434

Aggregate amortization expense for amortizable intangible assets for the three months ended June 30, 2022 and 2021 was $10.4 million and $9.4 million, respectively, and for the six months ended June 30, 2022 and 2021 was $21.0 million and $18.9 million, respectively. Estimated aggregate amortization expense for intangible assets subject to amortization for each of the following five years is:

(In thousands)
Years Ending December 31,
2022	$	41,600
2023	41,428
2024	41,345
2025	39,654
2026	35,152