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Goodwill and other intangible assets | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and other intangible assets | Goodwill and other intangible assets We operate as one operating and reportable segment which includes the goodwill balances as of December 31, 2019 and December 31, 2018 shown below (in thousands):
|  | Goodwill
Balance as of Dec. 31, 2017 |  | $ | 2,579,417 |
KFMB Stations acquisition |  | 17,446 |
Balance as of Dec. 31, 2018 |  | 2,596,863 |
Recent Acquisitions |  | 355,368 |
Disposition of a business unit |  | (1,644 | )
Balance as of Dec. 31, 2019 |  | $ | 2,950,587 |
The change in goodwill during both years is primarily attributable to the acquisitions discussed in Note 2. The following table displays indefinite-lived intangible assets and amortizable intangible assets as of December 31, 2019 and 2018 (in thousands):
|  | Gross |  | Accumulated Amortization |  | Net
Dec. 31, 2019 |  |  |  |  |  |
Indefinite-lived intangibles: |  |  |  |  |  |
Television and radio station FCC broadcast licenses |  | 2,090,732 |  |  | — |  |  | 2,090,732 |
Amortizable intangible assets: |  |  |  |  |  |
Retransmission agreements |  | 256,533 |  |  | (105,212 | ) |  | 151,321 |
Network affiliation agreements |  | 309,496 |  |  | (48,174 | ) |  | 261,322 |
Other |  | 73,305 |  |  | (15,066 | ) |  | 58,239 |
Total indefinite-lived and amortizable intangible assets |  | $ | 2,730,066 |  |  | $ | (168,452 | ) |  | $ | 2,561,614 |
Dec. 31, 2018 |  |  |  |  |  |
Indefinite-lived intangibles: |  |  |  |  |  |
Television station FCC licenses |  | 1,384,186 |  |  | — |  |  | 1,384,186 |
Amortizable intangible assets: |  |  |  |  |  |
Retransmission agreements |  | 121,594 |  |  | (79,274 | ) |  | 42,320 |
Network affiliation agreements |  | 110,390 |  |  | (30,802 | ) |  | 79,588 |
Other |  | 28,865 |  |  | (8,882 | ) |  | 19,983 |
Total indefinite-lived and amortizable intangible assets |  | $ | 1,645,035 |  |  | $ | (118,958 | ) |  | $ | 1,526,077 |
Our retransmission agreements and network affiliation agreements are amortized on a straight-line basis over their estimated useful lives. Other intangibles primarily include distribution agreements and brand names from our Justice & Quest acquisition which are also amortized on a straight-line basis over their useful lives. As a result of adopting new lease accounting guidance in 2019, we reclassified $8.1 million and $0.6 million of gross asset and accumulated amortization, respectively, related to a favorable lease intangible asset to Right-of-use assets for operating leases. The $7.5 million net asset balance of this asset is now recorded as a right-of-use lease asset. The remaining change in gross intangible asset values in 2019 are a result of the acquisitions discussed in Note 2. Certain of those assets are valued on a preliminary basis as we continue to review underlying assumptions and valuation methodologies utilized to calculate their respective fair values. The following table shows the projected annual amortization expense related to amortizable intangible assets existing as of December 31, 2019 (in thousands):
2020 |  | $ | 73,439 |
2021 |  | 67,351 |
2022 |  | 64,209 |
2023 |  | 57,793 |
2024 |  | 51,330 |
Thereafter |  | 156,760 |
Total |  | $ | 470,882 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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