Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Other intangible assets consisted of the following:


	December 31, 2020						December 31, 2019
(in thousands)	Gross Carrying Amount		Accumulated Amortization and Other		Net		Gross Carrying Amount		Accumulated Amortization and Other		Net
Goodwill - Broadband	$	3,244	$	—	$	3,244	$	2,687	$	—	$	2,687
Indefinite-lived intangibles:
Cable franchise rights	$	64,334	$	—	$	64,334	$	64,334	$	—	$	64,334
FCC spectrum licenses	29,958		—		29,958		13,839		—		13,839
Railroad crossing rights	141		—		141		141		—		141
Total indefinite-lived intangibles	94,433		—		94,433		78,314		—		78,314

Finite-lived intangibles:
FCC spectrum licenses	6,811		(340)		6,471		4,659		(97)		4,562
Subscriber relationships	28,425		(26,000)		2,425		28,065		(25,600)		2,465
Other intangibles	463		(277)		186		463		(250)		213
Total finite-lived intangibles	35,699		(26,617)		9,082		33,187		(25,947)		7,240
Total goodwill and intangible assets	$	133,376	$	(26,617)	$	106,759	$	114,188	$	(25,947)	$	88,241

We acquired Canaan Cable ("Canaan") on December 31, 2020. The $2.1 million acquisition price was allocated as follows: $1.1 million of property, plant and equipment; $0.4 million to subscriber relationships; and $0.6 million of goodwill. We remitted $1.89 million of the acquisition price at closing. The remaining $210 thousand was accrued and represents a non-cash investing and financing activity.

During the third quarter of 2020, the Company completed the purchase of certain indefinite-lived CBRS spectrum licenses for an aggregate cost of $16.1 million, within our Broadband segment. Spectrum licenses in the CBRS band are issued by the Federal Communications Commission (“FCC”) and provide us priority access rights over general access users other than incumbents, in that specific band, in accordance with the FCC’s three-tier CBRS band spectrum sharing framework to utilize designated radio frequency spectrum within specific geographic service areas to provide wireless communication services.

During the third quarter of 2019, the Company purchased certain indefinite-lived spectrum licenses for $13.8 million and finite-lived spectrum licenses for $4.7 million.

We acquired Big Sandy Broadband, Inc. (“Big Sandy”) on February 28, 2019. The $10 million acquisition price was allocated as follows: $4.6 million of property, plant and equipment; $2.8 million of subscriber relationships; and $2.6 million of goodwill.

For the years ended December 31, 2020, 2019 and 2018, amortization expense was approximately $0.7 million, $0.5 million and $0.2 million, respectively.

Our finite-lived intangible assets are amortized over the following estimated useful lives:


						Estimated Useful Life
FCC spectrum licenses						18 - 30 years
Subscriber relationships						3 - 10 years
Other intangibles						15 - 20 years

The following table summarizes expected amortization of intangible assets at December 31, 2020:


(in thousands)	Amortization of Intangible Assets

2021	$	782
2022	782
2023	782
2024	782
2025	778
Thereafter	5,176
Total	$	9,082