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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill consisted of the following:
(in thousands) |  | Local Media |  | Scripps Networks |  | Other |  | Total
Gross balance as of December 31, 2022 |  | $ | 1,122,408 |  |  | $ | 2,028,890 |  |  | $ | 7,190 |  |  | $ | 3,158,488 |
Accumulated impairment losses |  | (216,914) |  |  | (21,000) |  |  | — |  |  | (237,914) |
Net balance as of December 31, 2022 |  | $ | 905,494 |  |  | $ | 2,007,890 |  |  | $ | 7,190 |  |  | $ | 2,920,574 |
Gross balance as of March 31, 2023 |  | $ | 1,122,408 |  |  | $ | 2,028,890 |  |  | $ | 7,190 |  |  | $ | 3,158,488 |
Accumulated impairment losses |  | (216,914) |  |  | (21,000) |  |  | — |  |  | (237,914) |
Net balance as of March 31, 2023 |  | $ | 905,494 |  |  | $ | 2,007,890 |  |  | $ | 7,190 |  |  | $ | 2,920,574 |
Other intangible assets consisted of the following:
(in thousands) |  | As of March 31, 2023 |  | As of December 31, 2022
Amortizable intangible assets: |  |  |  |
Carrying amount: |  |  |  |
Television affiliation relationships |  | $ | 1,060,244 |  |  | $ | 1,060,244 |
Customer lists and advertiser relationships |  | 220,997 |  |  | 220,997 |
Other |  | 136,100 |  |  | 136,100 |
Total carrying amount |  | 1,417,341 |  |  | 1,417,341 |
Accumulated amortization: |  |  |  |
Television affiliation relationships |  | (235,610) |  |  | (222,092) |
Customer lists and advertiser relationships |  | (112,983) |  |  | (106,654) |
Other |  | (50,800) |  |  | (47,156) |
Total accumulated amortization |  | (399,393) |  |  | (375,902) |
Net amortizable intangible assets |  | 1,017,948 |  |  | 1,041,439 |
Indefinite-lived intangible assets — FCC licenses |  | 779,815 |  |  | 779,815 |
Total other intangible assets |  | $ | 1,797,763 |  |  | $ | 1,821,254 |
Estimated amortization expense of intangible assets for each of the next five years is $70.6 million for the remainder of 2023, $92.7 million in 2024, $89.6 million in 2025, $86.1 million in 2026, $83.2 million in 2027, $62.0 million in 2028 and $533.7 million in later years. Goodwill and other indefinite-lived intangible assets are tested for impairment annually and any time events occur or changes in circumstances indicate it is more likely than not the fair value of a reporting unit, or respective indefinite-lived intangible asset, is below its carrying value. Such events or changes in circumstances include, but are not limited to, changes in business climate, declines in the price of our stock, or other factors resulting in lower cash flow related to such assets. If the carrying amount exceeds its fair value, then an impairment loss is recognized. The reporting unit valuations used to test goodwill and intangible assets for impairment are dependent on a number of significant estimates and assumptions, including macroeconomic conditions, market growth rates, competitive activities, cost containment, margin expansion and strategic business plans. Additionally, future changes in these assumptions and estimates with respect to long-term growth rates and discount rates or future cash flow projections, could result in significantly different estimates of the fair values. Our annual impairment testing for goodwill performed during the fourth quarter of 2022 indicated that the fair value of our Local Media reporting unit exceeded its carrying value by 30% and the fair value of our Scripps Networks reporting unit exceeded its carrying value by 2.5%. Given the limited excess of the fair value over the carrying value for the Scripps Networks reporting unit, this reporting unit is more sensitive to changes in assumptions regarding its fair value. A 50 basis point increase in the discount rate or a decrease of $25 million in the annual cash flows used in the discounted cash flow analysis could result in the fair value of this reporting unit being less than its carrying value. While we believe the estimates and judgments used in determining the fair values were appropriate, these estimates of fair value assume certain growth of our businesses, which, if not achieved, could impact the fair value and possibly result in an impairment of the goodwill in future periods. No impairment charges were recorded during the quarters ended March 31, 2023 or March 31, 2022.

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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 https://asc.fasb.org/topic&trid=2144416 + Details
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