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Note 10 - Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
10. | Goodwill and Intangible Assets
As of March 31, 2024 and December 31, 2023, our intangible assets and related accumulated amortization consisted of the following (in millions):
|  | As of March 31, 2024 |  |  | As of December 31, 2023 |
|  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
|  | Gross |  |  | Amortization |  |  | Net |  |  | Gross |  |  | Amortization |  |  | Net |
Intangible assets not currently subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Broadcast licenses |  | $ | 5,374 |  |  | $ | (54 | ) |  | $ | 5,320 |  |  | $ | 5,374 |  |  | $ | (54 | ) |  | $ | 5,320 |
Goodwill |  |  | 2,643 |  |  |  | - |  |  |  | 2,643 |  |  |  | 2,643 |  |  |  | - |  |  |  | 2,643 |
|  | $ | 8,017 |  |  | $ | (54 | ) |  | $ | 7,963 |  |  | $ | 8,017 |  |  | $ | (54 | ) |  | $ | 7,963 |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Network affiliation agreements |  | $ | 216 |  |  | $ | (134 | ) |  | $ | 82 |  |  | $ | 216 |  |  | $ | (126 | ) |  | $ | 90 |
Other finite-lived intangible assets |  |  | 992 |  |  |  | (690 | ) |  |  | 302 |  |  |  | 992 |  |  |  | (667 | ) |  |  | 325 |
|  | $ | 1,208 |  |  | $ | (824 | ) |  | $ | 384 |  |  | $ | 1,208 |  |  | $ | (793 | ) |  | $ | 415 |
Total intangible assets |  | $ | 9,225 |  |  | $ | (878 | ) |  | $ | 8,347 |  |  | $ | 9,225 |  |  | $ | (847 | ) |  | $ | 8,378 |
Amortization expense for the three-months ended March 31, 2024 and 2023 was $31 million and $49 million, respectively. Based on the current amount of intangible assets subject to amortization, we expect that amortization expense for the remainder of 2024 will be approximately $93 million, and, for the succeeding five years, amortization expense will be approximately as follows: 2025, $113 million; 2026, $83 million; 2027, $47 million; 2028, $13 million; and 2029, $3 million. If and when acquisitions and dispositions occur in the future, actual amounts may vary from these estimates.

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