Goodwill and Intangible Assets

9 Months Ended

Jun. 30, 2024

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, 2023	$	1,529	$	464	$	1,993
Acquisitions	3		—		3

Other adjustments (a)	7		—		7
Balances at June 30, 2024	$	1,539	$	464	$	2,003

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(a)Other adjustments during the nine months ended June 30, 2024 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, 2024		September 30, 2023
		(in millions)
Intangible assets subject to amortization:
Recorded music catalog	12 years	$	1,549	$	1,507
Music publishing copyrights	24 years	2,150		2,026
Artist and songwriter contracts	13 years	1,103		1,091
Trademarks	18 years	67		111
Other intangible assets	7 years	67		104
Total gross intangible assets subject to amortization		4,936		4,839
Accumulated amortization		(2,627)		(2,486)
Total net intangible assets subject to amortization		2,309		2,353
Intangible assets not subject to amortization:
Trademarks and tradenames	Indefinite	150		149
Total net intangible assets		$	2,459	$	2,502

The decrease in net intangible assets during the nine months ended June 30, 2024 is partially related to the write off of approximately $35 million of unamortized intangible assets within trademarks and other intangible assets in connection with the winding down of the Company’s O&O Media Properties. Please refer to Note 9 of our condensed consolidated financial statements for further discussion.