Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets consisted of the following:


	September 30, 2025						December 31, 2024
(in thousands)	Gross Carrying Amount		Accumulated Amortization and Other		Net		Gross Carrying Amount		Accumulated Amortization and Other		Net
Goodwill	$	67,538	$	—	$	67,538	$	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	557		—		557		526		—		526
Total indefinite-lived intangibles	77,013		—		77,013		76,982		—		76,982

Finite-lived intangibles:
Subscriber relationships	43,012		(30,303)		12,709		42,447		(28,882)		13,565
Other intangibles	537		(411)		126		510		(389)		121
Total finite-lived intangibles	43,549		(30,714)		12,835		42,957		(29,271)		13,686
Total goodwill and intangible assets	$	188,100	$	(30,714)	$	157,386	$	186,994	$	(29,271)	$	157,723

Amortization expense was $0.5 million and $0.5 million during the three months ended September 30, 2025 and 2024, respectively, and $1.4 million and $1.1 million during the nine months ended September 30, 2025 and 2024, respectively.

As of October 1, 2024, management concluded that the estimated fair value of the broadband reporting unit exceeded the carrying value by 11%. During the three and nine months ended September 30, 2025, the Company performed goodwill impairment monitoring procedures and identified no indicators of impairment or triggering events. The Company will continue to monitor its reporting unit for any triggers that could impact recoverability of goodwill.