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Note 11 - Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2021
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 11. Goodwill and Intangible Assets A summary of changes in our goodwill and other intangible assets, on a net basis, for the six-months ended June 30, 2021 is as follows (in millions):
|  | Net Balance at |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Net Balance at |
|  | December 31, |  |  | Acquisitions |  |  |  |  |  |  |  |  |  |  | June 30, |
|  | 2020 |  |  | and Adjustments |  |  | Impairments |  |  | Amortization |  |  | 2021 |
Goodwill |  | $ | 1,460 |  |  | $ | 6 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,466 |
Broadcast licenses |  |  | 3,579 |  |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | 3,584 |
Finite-lived intangible assets |  |  | 395 |  |  |  | 7 |  |  |  | - |  |  |  | (53 | ) |  |  | 349 |
Total intangible assets net of accumulated amortization |  | $ | 5,434 |  |  | $ | 18 |  |  | $ | - |  |  | $ | (53 | ) |  | $ | 5,399 |
A summary of the changes in our goodwill, on a gross basis, for the six-months ended June 30, 2021, is as follows (in millions):
|  | As of |  |  |  |  |  |  |  |  |  |  | As of |
|  | December 31, |  |  | Acquisitions |  |  |  |  |  |  | June 30, |
|  | 2020 |  |  | and Adjustments |  |  | Impairments |  |  | 2021 |
Goodwill, gross |  | $ | 1,559 |  |  | $ | 6 |  |  | $ | - |  |  | $ | 1,565 |
Accumulated goodwill impairment |  |  | (99 | ) |  |  | - |  |  |  | - |  |  |  | (99 | )
Goodwill, net |  | $ | 1,460 |  |  | $ | 6 |  |  | $ | - |  |  | $ | 1,466 |
As of June 30, 2021 and December 31, 2020, our intangible assets and related accumulated amortization consisted of the following (in millions):
|  | As of June 30, 2021 |  |  | As of December 31, 2020 |
|  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
|  | Gross |  |  | Amortization |  |  | Net |  |  | Gross |  |  | Amortization |  |  | Net |
Intangible assets not currently subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Broadcast licenses |  | $ | 3,638 |  |  | $ | (54 | ) |  | $ | 3,584 |  |  | $ | 3,633 |  |  | $ | (54 | ) |  | $ | 3,579 |
Goodwill |  |  | 1,466 |  |  |  | - |  |  |  | 1,466 |  |  |  | 1,460 |  |  |  | - |  |  |  | 1,460 |
|  | $ | 5,104 |  |  | $ | (54 | ) |  | $ | 5,050 |  |  | $ | 5,093 |  |  | $ | (54 | ) |  | $ | 5,039 |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Network affiliation agreements |  | $ | 67 |  |  | $ | (34 | ) |  | $ | 33 |  |  | $ | 67 |  |  | $ | (28 | ) |  | $ | 39 |
Other definite lived intangible assets |  |  | 651 |  |  |  | (335 | ) |  |  | 316 |  |  |  | 644 |  |  |  | (288 | ) |  |  | 356 |
|  | $ | 718 |  |  | $ | (369 | ) |  | $ | 349 |  |  | $ | 711 |  |  | $ | (316 | ) |  | $ | 395 |
Total intangibles |  | $ | 5,822 |  |  | $ | (423 | ) |  | $ | 5,399 |  |  | $ | 5,804 |  |  | $ | (370 | ) |  | $ | 5,434 |
Amortization expense for the six-months ended June 30, 2021 and 2020 was $53 million and $52 million, respectively. Based on the current amount of intangible assets subject to amortization, we expect that amortization expense for the remainder of 2021 will be approximately $51 million, and, for the succeeding five years, amortization expense will be approximately as follows: 2022, $100 million; 2023, $94 million; 2024, $28 million; 2025, $19 million; and 2026, $18 million. If and when acquisitions and dispositions occur in the future, actual amounts may vary materially from these estimates. .

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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