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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The Company’s goodwill and intangible assets consist of the following:
| December 31, 2023 |  | December 31, 2022
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization and Other |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization and Other |  | Net
Goodwill - Broadband | $ | 3,244 |  |  | $ | — |  |  | $ | 3,244 |  |  | $ | 3,244 |  |  | $ | — |  |  | $ | 3,244 |
Indefinite-lived intangibles: |  |  |  |  |  |  |  |  |  |  |
Cable franchise rights | $ | 64,334 |  |  | $ | — |  |  | $ | 64,334 |  |  | $ | 64,334 |  |  | $ | — |  |  | $ | 64,334 |
FCC spectrum licenses | 12,122 |  |  | — |  |  | 12,122 |  |  | 12,122 |  |  | — |  |  | 12,122 |
Railroad crossing rights | 217 |  |  | — |  |  | 217 |  |  | 141 |  |  | — |  |  | 141 |
Total indefinite-lived intangibles | 76,673 |  |  | — |  |  | 76,673 |  |  | 76,597 |  |  | — |  |  | 76,597 |
Finite-lived intangibles: |  |  |  |  |  |  |  |  |  |  |
Subscriber relationships | 28,425 |  |  | (27,370) |  |  | 1,055 |  |  | 28,425 |  |  | (26,910) |  |  | 1,515 |
Other intangibles | 510 |  |  | (359) |  |  | 151 |  |  | 488 |  |  | (329) |  |  | 159 |
Total finite-lived intangibles | 28,935 |  |  | (27,729) |  |  | 1,206 |  |  | 28,913 |  |  | (27,239) |  |  | 1,674 |
Total goodwill and intangible assets | $ | 108,852 |  |  | $ | (27,729) |  |  | $ | 81,123 |  |  | $ | 108,754 |  |  | $ | (27,239) |  |  | $ | 81,515 |
Amortization expense was $0.5 million, $0.7 million and $0.8 million for the years ended December 31, 2023, 2022 and 2021, respectively. On August 23, 2022, the Company entered into a definitive asset purchase agreement (the “Spectrum Purchase Agreement”) with a wireless carrier pursuant to which the Company agreed to sell certain FCC spectrum licenses and leases utilized in the Company’s Beam branded fixed wireless service for total consideration of approximately $21.1 million, composed of $17.3 million cash and approximately $3.8 million of liabilities to be assumed by the wireless carrier (the “Spectrum Transaction”). As a result of the expected sale, the Company concluded that the FCC spectrum licenses met the held for sale criteria. Accordingly, $13.8 million of indefinite-lived licenses and $5.9 million of finite-lived licenses are presented as held for sale, along with the corresponding $3.8 million of operating lease liabilities related to the finite-lived licenses, as of December 31, 2022. Upon the closing of the Spectrum Transaction on July 6, 2023, the respective balances were derecognized, resulting in a gain of $1.3 million recorded in other income (expense). The Company evaluated these events and determined that the Spectrum Transaction does not represent a strategic shift in the Company’s business. Our finite-lived intangible assets are amortized over the following estimated useful lives:
|  | Estimated Useful Life
Subscriber relationships |  | 3 - 10 years
Other intangibles |  | 15 - 20 years
The following table summarizes expected amortization of intangible assets at December 31, 2023:
(in thousands) |  | Amortization of Intangible Assets
2024 |  | $ | 492 |
2025 |  | 486 |
2026 |  | 105 |
2027 |  | 67 |
2028 |  | 19 |
Thereafter |  | 37 |
Total |  | $ | 1,206 |

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