Goodwill and Intangible Assets

3 Months Ended

Dec. 31, 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, 2024	$	1,557	$	464	$	2,021
Acquisitions	21		—		21

Other adjustments (a)	(29)		—		(29)
Balances at December 31, 2024	$	1,549	$	464	$	2,013

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(a)Other adjustments during the three months ended December 31, 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	December 31, 2024		September 30, 2024
		(in millions)
Intangible assets subject to amortization:
Recorded music catalog	12 years	$	1,603	$	1,616
Music publishing copyrights	24 years	2,182		2,227
Artist and songwriter contracts	13 years	1,099		1,125
Trademarks	17 years	73		69
Other intangible assets	5 years	86		69
Total gross intangible assets subject to amortization		5,043		5,106
Accumulated amortization		(2,714)		(2,747)
Total net intangible assets subject to amortization		2,329		2,359
Intangible assets not subject to amortization:
Trademarks and tradenames	Indefinite	149		152
Total net intangible assets		$	2,478	$	2,511

The decrease in net intangible assets during the three months ended December 31, 2024 is primarily related to foreign currency movements, partially offset by business combinations which resulted in the recognition of intangible assets with a preliminary estimated fair value of $39 million in the aggregate within recorded music catalogs, artist and songwriter contracts, trademarks, and other intangibles.