Note 10 - Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

10. Goodwill and Intangible Assets

As of March 31, 2022 and December 31, 2021, our intangible assets and related accumulated amortization consisted of the following (in millions):

	As of March 31, 2022							As of December 31, 2021
			Accumulated							Accumulated
	Gross		Amortization			Net		Gross		Amortization			Net
Intangible assets not currently subject to amortization:
Broadcast licenses	$	5,362	$	(53	)	$	5,309	$	5,356	$	(53	)	$	5,303
Goodwill		2,649		-			2,649		2,649		-			2,649
	$	8,011	$	(53	)	$	7,958	$	8,005	$	(53	)	$	7,952
Intangible assets subject to amortization:
Network affiliation agreements	$	204	$	(55	)	$	149	$	204	$	(44	)	$	160
Other finite-lived intangible assets		1,051		(427	)		624		1,051		(386	)		665
	$	1,255	$	(482	)	$	773	$	1,255	$	(430	)	$	825
Total intangible assets	$	9,266	$	(535	)	$	8,731	$	9,260	$	(483	)	$	8,777

Amortization expense for the three-months ended March 31, 2022 and 2021 was $52 million and $26 million, respectively. Based on the current amount of intangible assets subject to amortization, we expect that amortization expense for the remainder of 2022 will be approximately $153 million, and, for the succeeding five years, amortization expense will be approximately as follows: 2023, $194 million; 2024, $129 million; 2025, $118 million; 2026, $88 million; and 2027, $46 million. If and when acquisitions and dispositions occur in the future, actual amounts may vary from these estimates.