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Broadcast Licenses, Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes to broadcast licenses
We have recorded the changes to broadcast licenses for the years ended December 31, 2015 and 2014 as follows:
 
 
 
Radio
 
Television
 
Total
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Balance at January 1, 2014
 
$
78,872
 
$
9,588
 
$
88,460
 
Acquisitions
 
 
219
 
 
19
 
 
238
 
Impairment charge
 
 
(1,936)
 
 
 
 
(1,936)
 
Balance at December 31, 2014
 
$
77,155
 
$
9,607
 
$
86,762
 
Acquisitions
 
 
2,218
 
 
 
 
2,218
 
Impairment charge
 
 
(874)
 
 
 
 
(874)
 
Balance at December 31, 2015
 
$
78,499
 
$
9,607
 
$
88,106
 
Key estimates and assumptions used in the impairment test
 
 
Fourth
 
Fourth
 
 
 
Quarter
 
Quarter
 
 
 
2015
 
2014
 
Discount rates
 
12.2% - 12.4%
 
12.3% - 12.4%
 
Operating profit margin ranges
 
19.5% - 36.4%
 
20.8% - 36.4%
 
Market long-term revenue growth rates
 
1.3 % - 3.1%
 
1.2 % - 4.1%
 
 
 
 
 
Fourth
 
Fourth
 
 
 
Quarter
 
Quarter
 
 
 
2014
 
2013
 
Discount rates
 
12.3% - 12.4%
 
12.2% - 12.4%
 
Operating profit margin ranges
 
20.8% - 36.4%
 
19.9% - 35.8%
 
Market long-term revenue growth rates
 
1.2 % - 4.1%
 
1.9 % - 3.3%
 
 
 
 
Fourth
 
Fourth
 
 
 
Quarter
 
Quarter
 
 
 
2013
 
2012
 
Discount rates
 
12.2% - 12.4%
 
12.0% - 12.2%
 
Operating profit margin ranges
 
19.9% - 35.8%
 
17.4% - 35.8%
 
Market long-term revenue growth rates
 
1.9 % - 3.3%
 
1.75 % - 3.1%
 
Changes to Goodwill
We have recorded the changes to goodwill for each of the years ended December 31, 2015 and 2014 as follows:
 
 
 
Radio
 
Television
 
Total
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
Balance at January 1, 2014
 
$
 
$
 
$
 
Acquisitions
 
 
326
 
 
 
 
326
 
Balance at December 31, 2014
 
$
326
 
$
 
$
326
 
Acquisitions
 
 
2,548
 
 
 
 
2,548
 
Balance at December 31, 2015
 
$
2,874
 
$
 
$
2,874
 
Amortizable intangible assets
We have recorded amortizable intangible assets at December 31, 2015 as follows:
 
 
 
Gross
 
 
 
 
 
 
 
Carrying
 
Accumulated
 
Net
 
 
 
Amount
 
Amortization
 
Amount
 
 
 
(In thousands)
 
Non-competition agreements
 
$
3,861
 
$
3,861
 
$
 
Favorable lease agreements
 
 
5,990
 
 
5,638
 
 
352
 
Customer relationships
 
 
1,346
 
 
177
 
 
1,169
 
Other intangibles
 
 
1,920
 
 
1,638
 
 
282
 
Total amortizable intangible assets
 
$
13,117
 
$
11,314
 
$
1,803
 
 
We have recorded amortizable intangible assets at December 31, 2014 as follows:
 
 
 
Gross
 
 
 
 
 
 
 
Carrying
 
Accumulated
 
Net
 
 
 
Amount
 
Amortization
 
Amount
 
 
 
(In thousands)
 
Non-competition agreements
 
$
3,861
 
$
3,861
 
$
 
Favorable lease agreements
 
 
5,862
 
 
5,613
 
 
249
 
Other intangibles
 
 
1,766
 
 
1,609
 
 
157
 
Total amortizable intangible assets
 
$
11,489
 
$
11,083
 
$
406