Goodwill and Other Intangible Assets

6 Months Ended

Jun. 28, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

The following table displays goodwill, indefinite-lived intangible assets, and amortizable intangible assets at June 28, 2015 and December 28, 2014:



In thousands	Jun. 28, 2015				Dec. 28, 2014
	Gross		Accumulated Amortization		Gross		Accumulated Amortization

Goodwill	$	4,525,618	$	—	$	4,499,927	$	—
Indefinite-lived intangibles:
Television station FCC licenses	1,191,950		—		1,191,950		—
Mastheads and trade names	975,708		—		951,776		—
Amortizable intangible assets:
Customer relationships	1,100,567		256,326		1,078,738		212,438
Other	279,377		71,557		282,856		53,289

Customer relationships include subscriber lists and advertiser relationships while other intangibles primarily include retransmission agreements, network affiliations, internally developed technology, patents and amortizable trade names.

The following table summarizes the changes in our net goodwill balance through June 28, 2015:



In thousands	Broadcasting		Digital			Publishing			Total

Balance at Dec. 28, 2014:
Goodwill	$	2,578,601	$	1,488,139		$	7,662,543		$	11,729,283
Accumulated impairment losses	—		(151,970		)	(7,077,386		)	(7,229,356		)
Net balance at Dec. 28, 2014	2,578,601		1,336,169			585,157			4,499,927
Activity during the period:
Acquisitions and adjustments	817		2,248			32,731			35,796
Impairment	—		—			(5,940		)	(5,940		)
Foreign currency exchange rate changes	—		(6,367		)	2,202			(4,165		)
Total	817		(4,119		)	28,993			25,691
Balance at Jun. 28, 2015:
Goodwill	2,579,418		1,484,020			7,721,831			11,785,269
Accumulated impairment losses	—		(151,970		)	(7,107,681		)	(7,259,651		)
Net balance at Jun. 28, 2015	$	2,579,418	$	1,332,050		$	614,150		$	4,525,618

On October 1, 2014 we completed the acquisition of the remaining 73% that we did not previously own in Cars.com (formerly Classified Ventures, LLC). On May 26, 2015 our former publishing business acquired Romanes Media Group and on June 1, 2015 it completed the acquisition of the remaining 59.36% interest in the Texas-New Mexico Newspapers Partnership that it did not own from Digital First Media. The initial purchase price allocations are preliminary, based upon all information available to us at the present time and are subject to change.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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