
	As of December 31, 2025						As of December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Estimated Useful Lives
Customer relationships	$	6,089,374	$	(5,405,190)	$	684,184	$	6,089,050	$	(5,137,180)	$	951,870	1 to 18 years
Trade names	1,010,000		(1,010,000)		—		1,010,000		(1,010,000)		—		4 to 7 years
Other amortizable intangibles	64,664		(46,381)		18,283		51,909		(42,974)		8,935		1 to 15 years
	$	7,164,038	$	(6,461,571)	$	702,467	$	7,150,959	$	(6,190,154)	$	960,805

The following table sets forth the estimated amortization expense on intangible assets for the periods presented:


Estimated amortization expense
Year Ending December 31, 2026			$221,207
Year Ending December 31, 2027			175,398
Year Ending December 31, 2028			132,094
Year Ending December 31, 2029			89,195
Year Ending December 31, 2030			52,999


	Indefinite-lived Cable Franchise Rights		Goodwill







Balance as of December 31, 2022	$	13,216,355	$	8,208,773
Adjustment related to 2022 acquisition	—		(1,002)
Impairment charge related to Goodwill	—		(163,055)
Balance as of December 31, 2023	13,216,355		8,044,716
Adjustment related to the sale of certain cable assets	(5,047)		(3,499)

Balance as of December 31, 2024	13,211,308		8,041,217
Impairment charge related to cable franchise rights	(1,611,308)		—
Balance as of December 31, 2025	$	11,600,000	$	8,041,217

Goodwill and the value of indefinite-lived cable franchises acquired in business combinations are not amortized. Rather, such assets are tested for impairment annually as of October 1, or whenever events or changes in circumstances indicate that it is more likely than not that the assets may be impaired. A deterioration in the Company’s operating performance, projected future performance or broader macro-economic conditions could be a triggering event that would require testing and may result in an impairment charge prior to the annual testing date.

During the three months ended September 30, 2025, we completed our annual long-term plan, which reflected a decline in estimated future cash flows. Management concluded that this was a triggering event and a quantitative impairment test of our indefinite-lived cable franchise rights and goodwill was performed as of September 30, 2025.

As a result of our quantitative impairment test, we recorded a non-cash impairment charge of $1,611,308 related to our indefinite-lived cable franchise rights in the third quarter of 2025. These intangible assets represent contractual rights to operate cable systems in specific geographic areas. The decline in the estimated fair value of our indefinite-lived franchise rights was attributable to updated long-term financial projections, that reflected a reduction in estimated future cash flows as a result of the sustained competitive environment and macroeconomic conditions. The impairment analysis was conducted using a discounted cash flow methodology, which incorporated updated projections of future cash flows, growth rates, and discount rates consistent with current market assumptions. If we experience a significant shortfall in cash flows from new customers, then we may incur future non-cash impairment charges on our indefinite-lived cable franchise rights. This charge is included in "Restructuring, impairments and other operating items" in the consolidated statement of operations and did not impact our cash flow or liquidity. As the carrying value of our franchise rights represent fair value, any reduction in the fair value of these rights would result in an additional impairment charge. A hypothetical 10% reduction in the fair value of our franchise rights would result in an impairment charge of approximately $1,160,000.