XML 28 R18.htm IDEA: XBRL DOCUMENT
v3.23.2

Note 11 - Goodwill and Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2023
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, 2023 is as follows (in millions):
|  | Net Balance at |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Net Balance at |
|  | December 31, |  |  | Acquisitions |  |  |  |  |  |  |  |  |  |  | June 30, |
|  | 2022 |  |  | and Adjustments |  |  | Impairments |  |  | Amortization |  |  | 2023 |
Goodwill |  | $ | 2,663 |  |  | $ | (3 | ) |  | $ | - |  |  | $ | - |  |  | $ | 2,660 |
Broadcast licenses |  |  | 5,331 |  |  |  | (11 | ) |  |  | - |  |  |  | - |  |  |  | 5,320 |
Finite-lived intangible assets |  |  | 636 |  |  |  | - |  |  |  | - |  |  |  | (99 | ) |  |  | 537 |
Total intangible assets net of accumulated amortization |  | $ | 8,630 |  |  | $ | (14 | ) |  | $ | - |  |  | $ | (99 | ) |  | $ | 8,517 |
A summary of the changes in our goodwill, on a gross basis, for the six-months ended June 30, 2023, is as follows (in millions):
|  | As of |  |  |  |  |  |  |  |  |  |  | As of |
|  | December 31, |  |  | Acquisitions |  |  |  |  |  |  | June 30, |
|  | 2022 |  |  | and Adjustments |  |  | Impairments |  |  | 2023 |
Goodwill, gross |  | $ | 2,762 |  |  | $ | (3 | ) |  | $ | - |  |  | $ | 2,759 |
Accumulated goodwill impairment |  |  | (99 | ) |  |  | - |  |  |  | - |  |  |  | (99 | )
Goodwill, net |  | $ | 2,663 |  |  | $ | (3 | ) |  | $ | - |  |  | $ | 2,660 |
As of June 30, 2023 and December 31, 2022, our intangible assets and related accumulated amortization consisted of the following (in millions):
|  | As of June 30, 2023 |  |  | As of December 31, 2022 |
|  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
|  | Gross |  |  | Amortization |  |  | Net |  |  | Gross |  |  | Amortization |  |  | Net |
Intangible assets not currently subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Broadcast licenses |  | $ | 5,374 |  |  | $ | (54 | ) |  | $ | 5,320 |  |  | $ | 5,385 |  |  | $ | (54 | ) |  | $ | 5,331 |
Goodwill |  |  | 2,660 |  |  |  | - |  |  |  | 2,660 |  |  |  | 2,663 |  |  |  | - |  |  |  | 2,663 |
|  | $ | 8,034 |  |  | $ | (54 | ) |  | $ | 7,980 |  |  | $ | 8,048 |  |  | $ | (54 | ) |  | $ | 7,994 |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Network affiliation agreements |  | $ | 216 |  |  | $ | (106 | ) |  | $ | 110 |  |  | $ | 218 |  |  | $ | (88 | ) |  | $ | 130 |
Other finite lived intangible assets |  |  | 1,052 |  |  |  | (625 | ) |  |  | 427 |  |  |  | 1,055 |  |  |  | (549 | ) |  |  | 506 |
|  | $ | 1,268 |  |  | $ | (731 | ) |  | $ | 537 |  |  | $ | 1,273 |  |  | $ | (637 | ) |  | $ | 636 |
Total intangibles |  | $ | 9,302 |  |  | $ | (785 | ) |  | $ | 8,517 |  |  | $ | 9,321 |  |  | $ | (691 | ) |  | $ | 8,630 |
Amortization expense for the six-months ended June 30, 2023 and 2022 was $99 million and $104 million, respectively. Based on the current amount of intangible assets subject to amortization, we expect that amortization expense for the remainder of 2023 will be approximately $98 million, and, for the succeeding five years, amortization expense will be approximately as follows: 2024, $132 million; 2025, $121 million; 2026, $91 million; 2027, $49 million; and 2028, $13 million. If and when acquisitions and dispositions occur in the future, actual amounts may vary materially from these estimates. Please see footnote 14. Subsequent Event, for further discussion of the impairment charge to be recorded in the third quarter of 2023.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration