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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill and intangible assets consisted of the following:
| December 31, 2024 |  | December 31, 2023
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization and Other |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization and Other |  | Net
Goodwill | $ | 67,055 |  |  | $ | — |  |  | $ | 67,055 |  |  | $ | 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 and other | 526 |  |  | — |  |  | 526 |  |  | 217 |  |  | — |  |  | 217 |
Total indefinite-lived intangibles | 76,982 |  |  | — |  |  | 76,982 |  |  | 76,673 |  |  | — |  |  | 76,673 |
Finite-lived intangibles: |  |  |  |  |  |  |  |  |  |  |
Subscriber relationships | 42,447 |  |  | (28,882) |  |  | 13,565 |  |  | 28,425 |  |  | (27,370) |  |  | 1,055 |
Other intangibles | 510 |  |  | (389) |  |  | 121 |  |  | 510 |  |  | (359) |  |  | 151 |
Total finite-lived intangibles | 42,957 |  |  | (29,271) |  |  | 13,686 |  |  | 28,935 |  |  | (27,729) |  |  | 1,206 |
Total goodwill and intangible assets | $ | 186,994 |  |  | $ | (29,271) |  |  | $ | 157,723 |  |  | $ | 108,852 |  |  | $ | (27,729) |  |  | $ | 81,123 |
Shentel recognized $63.8 million of goodwill, $14.0 million of subscriber relationships and $0.2 million of other intangible assets as a result of the purchase price allocation related to the Horizon Transaction. The goodwill recognized primarily consists of synergies expected from combining the operations of Horizon and Shentel and intangible assets acquired that do not qualify for separate recognition, including an assembled workforce. None of the goodwill recognized is expected to be deductible for income tax purposes. Amortization expense was $1.5 million, $0.5 million and $0.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. 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, 2024:
(in thousands) |  | Amortization of Intangible Assets
2025 |  | $ | 1,888 |
2026 |  | 1,507 |
2027 |  | 1,469 |
2028 |  | 1,421 |
2029 |  | 1,420 |
2030 and thereafter |  | 5,981 |
Total |  | $ | 13,686 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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