Broadcast Licenses, Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Broadcast Licenses, Goodwill and Other Intangible Assets

Changes to broadcast licenses

We have recorded the changes to broadcast licenses for the years ended December 31, 2021 and 2020 as follows:

	Total
	(in thousands)
Balance at January 1, 2020	$	95,311
Acquisitions		46
Impairment charge		(5,149)
Balance at December 31, 2020	$	90,208
Acquisitions		69
Balance at December 31, 2021	$	90,277

Key estimates and assumptions used in the impairment test

	Fourth		Year		Fourth
	Quarter		Ended		Quarter
	2021		2020		2019
Discount rates	12.3% - 12.6	%	12.6% - 13.0	%	12.2% - 12.2	%
Operating profit margin ranges	17.8% - 36.4	%	17.8% - 36.4	%	19.0% - 36.4	%
Market long-term revenue growth rates	0.2% - 2.6	%	0.2% - 2.9	%	0.0% - 2.9	%

Changes to Goodwill

We have recorded the changes to goodwill for each of the years ended December 31, 2021 and 2020 as follows:

	Total
	(in thousands)
Balance at January 1, 2020	$	18,963
Acquisitions		143
Balance at December 31, 2020	$	19,106
Acquisitions		103
Balance at December 31, 2021	$	19,209

Amortizable intangible assets

We have recorded amortizable intangible assets at December 31, 2021 as follows:

	Gross
	Carrying		Accumulated		Net
	Amount		Amortization		Amount
	(In thousands)
Non-competition agreements	$	3,861	$	3,861	$	—
Favorable lease agreements		5,965		5,597		368
Customer relationships		4,660		4,660		—
Other intangibles		1,829		1,788		41
Total amortizable intangible assets	$	16,315	$	15,906	$	409

We have recorded amortizable intangible assets at December 31, 2020 as follows:

	Gross
	Carrying		Accumulated		Net
	Amount		Amortization		Amount
	(In thousands)
Non-competition agreements	$	3,861	$	3,861	$	—
Favorable lease agreements		5,965		5,570		395
Customer relationships		4,660		4,322		338
Other intangibles		1,834		1,771		63
Total amortizable intangible assets	$	16,320	$	15,524	$	796