XML 39 R20.htm IDEA: XBRL DOCUMENT
v3.23.3

Goodwill and Intangible Assets | 12 Months Ended
--- | ---
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets 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 | 160 |  |  | — |  |  | 160 |
Other adjustments | (70) |  |  | — |  |  | (70) |
Balances at September 30, 2022 | $ | 1,456 |  |  | $ | 464 |  |  | $ | 1,920 |
Acquisitions | 51 |  |  | — |  |  | 51 |
Other adjustments | 22 |  |  | — |  |  | 22 |
Balances at September 30, 2023 | $ | 1,529 |  |  | $ | 464 |  |  | $ | 1,993 |
The increase in goodwill during the fiscal year ended September 30, 2023 primarily relates to the acquisition of TenThousand Projects as described in Note 5. The increase in goodwill during the fiscal year ended September 30, 2022 primarily relates to the acquisition of 300 Entertainment as described in Note 5. The other adjustments during both the fiscal years ended September 30, 2023 and September 30, 2022 primarily represent foreign currency movements. The Company performs its annual goodwill impairment test in accordance with 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. The performance of the annual fiscal 2023 impairment analysis did not result in an impairment of the Company’s goodwill. Intangible Assets Intangible assets consist of the following:
| Weighted-Average Useful Life |  | September 30, 2023 |  | September 30, 2022
|  |  | (in millions)
Intangible assets subject to amortization: |  |  |  |  |
Recorded music catalog | 12 years |  | $ | 1,507 |  |  | $ | 1,316 |
Music publishing copyrights | 25 years |  | 2,026 |  |  | 1,889 |
Artist and songwriter contracts | 13 years |  | 1,091 |  |  | 1,014 |
Trademarks | 14 years |  | 111 |  |  | 103 |
Other intangible assets | 6 years |  | 104 |  |  | 89 |
Total gross intangible assets subject to amortization |  |  | 4,839 |  |  | 4,411 |
Accumulated amortization |  |  | (2,486) |  |  | (2,172) |
Total net intangible assets subject to amortization |  |  | 2,353 |  |  | 2,239 |
Intangible assets not subject to amortization: |  |  |  |  |
Trademarks and tradenames | Indefinite |  | 149 |  |  | 145 |
Total net intangible assets |  |  | $ | 2,502 |  |  | $ | 2,384 |
The increase in intangible assets during the fiscal year ended September 30, 2023 primarily relates to the acquisition of TenThousand Projects, which resulted in an increase in intangible assets as described in Note 5, as well as foreign currency movements. The Company performs its annual indefinite-lived intangible assets impairment test in accordance with 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 indefinite-lived intangible assets may not be recoverable. The performance of the annual fiscal 2023 impairment analysis did not result in an impairment of the Company’s indefinite-lived intangible assets. Amortization Based on the amount of intangible assets subject to amortization at September 30, 2023, the expected amortization for each of the next five fiscal years and thereafter are as follows:
Fiscal Year Ended September 30, |  | Amortization Expense
|  | (in millions)
2024 |  | $ | 232 |
2025 |  | 223 |
2026 |  | 206 |
2027 |  | 179 |
2028 |  | 158 |
Thereafter |  | 1,355 |
Total |  | $ | 2,353 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration