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Note 7 - Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 7. GOODWILL AND INTANGIBLE ASSETS The carrying amount of goodwill was $928.9 million at September 30, 2022 and $967.9 million at December 31, 2021, with the decrease attributable to $39.9 million of goodwill divested in the Clearwave Fiber transaction on January 1, 2022 and $1.8 million of goodwill divested in other transactions during the three months ended June 30, 2022, partially offset by a $2.7 million increase in goodwill related to a measurement period adjustment associated with the Hargray Acquisition. The Company has not historically recorded any impairment of goodwill. Intangible assets consisted of the following (dollars in thousands):
|  |  |  |  | September 30, 2022 |  |  | December 31, 2021 |
|  | Useful Life |  |  | Gross |  |  |  |  |  |  | Net |  |  | Gross |  |  |  |  |  |  | Net |
|  | Range |  |  | Carrying |  |  | Accumulated |  |  | Carrying |  |  | Carrying |  |  | Accumulated |  |  | Carrying |
|  | (in years) |  |  | Amount |  |  | Amortization |  |  | Amount |  |  | Amount |  |  | Amortization |  |  | Amount |
Finite-Lived Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 13.5 – 17 |  |  | $ | 784,381 |  |  | $ | 204,450 |  |  | $ | 579,931 |  |  | $ | 857,100 |  |  | $ | 153,699 |  |  | $ | 703,401 |
Trademarks and trade names |  | 2.7 – 4.2 |  |  |  | 11,846 |  |  |  | 6,177 |  |  |  | 5,669 |  |  |  | 13,500 |  |  |  | 3,852 |  |  |  | 9,648 |
Wireless licenses |  | 10 – 15 |  |  |  | 1,418 |  |  |  | 250 |  |  |  | 1,168 |  |  |  | 1,418 |  |  |  | 142 |  |  |  | 1,276 |
Total finite-lived intangible assets |  |  |  |  | $ | 797,645 |  |  | $ | 210,877 |  |  | $ | 586,768 |  |  | $ | 872,018 |  |  | $ | 157,693 |  |  | $ | 714,325 |
Indefinite-Lived Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Franchise agreements |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,100,546 |  |  |  |  |  |  |  |  |  |  | $ | 2,139,312 |
Trade names |  |  |  |  |  |  |  |  |  |  |  |  |  | 800 |  |  |  |  |  |  |  |  |  |  |  | 7,500 |
Total indefinite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,101,346 |  |  |  |  |  |  |  |  |  |  | $ | 2,146,812 |
Total intangible assets, net |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,688,114 |  |  |  |  |  |  |  |  |  |  | $ | 2,861,137 |
The $173.0 million decrease in the net carrying amount of intangible assets from December 31, 2021 to September 30, 2022 included $59.7 million of customer relationships, $8.1 million of trademarks and trade names and $27.7 million of franchise agreements divested in the Clearwave Fiber transaction on January 1, 202 2 and an additional $4.0 million of customer relationships, $0.2 million of trademarks and trade names and $11.0 million of franchise agreements divested in other transactions during the three months ended June 30, 2022. Intangible asset amortization expense was $20.8 million and $23.3 million for the three months ended September 30, 2022 and 2021, respectively, and $62.4 million and $52.8 million for the nine months ended September 30, 2022 and 2021, respectively. The future amortization of existing finite-lived intangible assets as of September 30, 2022 was as follows (in thousands):
Year Ending December 31, |  | Amount |
2022 (remaining three months) |  | $ | 20,968 |
2023 |  |  | 72,618 |
2024 |  |  | 65,828 |
2025 |  |  | 60,840 |
2026 |  |  | 55,326 |
Thereafter |  |  | 311,188 |
Total |  | $ | 586,768 |
Actual amortization expense in future periods may differ from the amounts above as a result of intangible asset acquisitions or divestitures, changes in useful life estimates, impairments or other relevant factors.

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