Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets consisted of the following:


	March 31, 2025						December 31, 2024
(in thousands)	Gross Carrying Amount		Accumulated Amortization and Other		Net		Gross Carrying Amount		Accumulated Amortization and Other		Net
Goodwill	$	67,055	$	—	$	67,055	$	67,055	$	—	$	67,055
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		526		—		526
Total indefinite-lived intangibles	76,982		—		76,982		76,982		—		76,982

Finite-lived intangibles:
Subscriber relationships	42,447		(29,348)		13,099		42,447		(28,882)		13,565
Other intangibles	537		(398)		139		510		(389)		121
Total finite-lived intangibles	42,984		(29,746)		13,238		42,957		(29,271)		13,686
Total goodwill and intangible assets	$	187,021	$	(29,746)	$	157,275	$	186,994	$	(29,271)	$	157,723

Amortization expense was $0.5 million and $0.1 million during the three months ended March 31, 2025 and 2024, respectively.

During the three months ended March 31, 2025, the Company performed goodwill impairment monitoring procedures and identified no indicators of impairment or triggering events. As of October 1, 2024, management concluded that the estimated fair value of the broadband reporting unit exceeded the carrying value by 11%. The Company will continue to monitor its reporting unit for any triggers that could impact recoverability of goodwill.