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GOODWILL, RADIO BROADCASTING LICENSES AND OTHER INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2022
GOODWILL, RADIO BROADCASTING LICENSES AND OTHER INTANGIBLE ASSETS |
GOODWILL, RADIO BROADCASTING LICENSES AND OTHER INTANGIBLE ASSETS | 3. GOODWILL AND RADIO BROADCASTING LICENSES: Impairment Testing In accordance with ASC 350, “Intangibles - Goodwill and Other,” we do not amortize our indefinite-lived radio broadcasting licenses and goodwill. Instead, we perform a test for impairment annually across all reporting units, or on an interim basis when events or changes in circumstances or other conditions suggest impairment may have occurred in any given reporting unit. Other intangible assets continue to be amortized on a straight-line basis over their useful lives. We perform our annual impairment test as of October 1 of each year. We evaluate all events and circumstances on an interim basis to determine if an interim indicator is present. Valuation of Broadcasting Licenses We did not identify any impairment indicators for the three months ended March 31, 2022 and 2021, and, therefore, no interim impairment testing was performed. ​ Valuation of Goodwill We did not identify any impairment indicators at any of our reportable segments for the three months ended March 31, 2022 and 2021, and therefore, no interim impairment testing was performed. ​ Goodwill Valuation Results The table below presents the changes in the Company’s goodwill carrying values for its four reportable segments. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Radio |  | Reach |  | ​ | ​ |  | Cable |  | ​ | ​
​ | ​ | Broadcasting | ​ | Media | ​ | Digital | ​ | Television | ​ | ​ | ​
​ | ​ | Segment | ​ | Segment | ​ | Segment | ​ | Segment | ​ | Total
​ | ​ | (In thousands)
Gross goodwill | ​ | $ | 155,000 | ​ | $ | 30,468 | ​ | $ | 27,567 | ​ | $ | 165,044 | ​ | $ | 378,079
Additions | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Impairments | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Accumulated impairment losses | ​ |  | (117,748) | ​ |  | (16,114) | ​ |  | (20,345) | ​ |  | — | ​ |  | (154,207)
Audacy asset exchange | ​ | ​ | (470) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (470)
Net goodwill at March 31, 2022 | ​ | $ | 36,782 | ​ | $ | 14,354 | ​ | $ | 7,222 | ​ | $ | 165,044 | ​ | $ | 223,402
​

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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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