Goodwill and Intangible Assets

9 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following analysis details the changes in goodwill for each reportable segment:


	Recorded Music		Music Publishing		Total
	(in millions)
Balances at September 30, 2021	$	1,366	$	464	$	1,830
Acquisitions (a)	145		—		145

Other adjustments (b)	(43)		—		(43)
Balances at June 30, 2022	$	1,468	$	464	$	1,932

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(a)Primarily relates to the acquisition of 300 Entertainment as described in Note 5.

(b)Other adjustments during the nine months ended June 30, 2022 represent foreign currency movements.

The Company performs its annual goodwill impairment test in accordance with ASC 350, Intangibles—Goodwill and Other (“ASC 350”) during the fourth quarter of each fiscal year as of July 1. The Company may conduct an earlier review if events or circumstances occur that would suggest the carrying value of the Company’s goodwill may not be recoverable. No indicators of impairment were identified during the current period that required the Company to perform an interim assessment or recoverability test.

Intangible Assets

Intangible assets consist of the following:


	Weighted-Average Useful Life	June 30, 2022		September 30, 2021
		(in millions)
Intangible assets subject to amortization:
Recorded music catalog	12 years	$	1,342	$	1,206
Music publishing copyrights	25 years	1,946		1,730
Artist and songwriter contracts	13 years	1,046		997
Trademarks	14 years	106		96
Other intangible assets	6 years	92		96
Total gross intangible asset subject to amortization		4,532		4,125
Accumulated amortization		(2,187)		(2,108)
Total net intangible assets subject to amortization		2,345		2,017
Intangible assets not subject to amortization:
Trademarks and tradenames	Indefinite	149		154
Total net intangible assets		$	2,494	$	2,171

The increase in intangible assets during the nine months ended June 30, 2022 primarily relates to the acquisition of 300 Entertainment, which resulted in an increase in intangible assets as described in Note 5, and an acquisition of music-related assets within music publishing copyrights for approximately $250 million.