Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.8.0.1
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2017
Goodwill and Other Intangible Assets  
Goodwill

Changes in the carrying amount of goodwill are as follows:

 

 

 

 

 

 

 

 

 

 

 

SIRIUS XM

 

Formula 1

    

Other

    

Total

 

 

amounts in millions

 

Balance at January 1, 2016

$

14,165

 

 —

 

180

 

14,345

 

Other

 

 —

 

 —

 

 —

 

 —

 

Balance at December 31, 2016

 

14,165

 

 —

 

180

 

14,345

 

Acquisitions (a) (b)

 

82

 

3,956

 

 —

 

4,038

 

Balance at December 31, 2017

$

14,247

 

3,956

 

180

 

18,383

 

(a)

On April 18, 2017, SIRIUS XM acquired Automatic Labs Inc., a connected vehicle device and mobile application company, for an aggregate purchase price of approximately $108 million, net of cash and restricted cash acquired. The excess purchase price over identifiable net assets of $82 million was recorded to goodwill.

(b)

See note 5 for details regarding the Formula 1 acquisition.
Schedule of intangible assets subject to amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

 

December 31, 2016

 

 

    

Gross

    

 

    

Net

    

Gross

    

 

    

Net

 

 

 

carrying

 

Accumulated

 

carrying

 

carrying

 

Accumulated

 

carrying

 

 

 

amount

 

amortization

 

amount

 

amount

 

amortization

 

amount

 

 

 

amounts in millions

 

FIA Agreement

 

$

3,630

 

(157)

 

3,473

 

 —

 

 —

 

 —

 

Customer relationships

 

 

2,684

 

(501)

 

2,183

 

830

 

(228)

 

602

 

Licensing agreements

 

 

330

 

(138)

 

192

 

316

 

(109)

 

207

 

Other

 

 

798

 

(515)

 

283

 

686

 

(423)

 

263

 

Total

 

$

7,442

 

(1,311)

 

6,131

 

1,832

 

(760)

 

1,072

 

 

Schedule of future amortization expense

Based on its amortizable intangible assets as of December 31, 2017, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):

 

 

 

 

 

2018

    

$

611

 

2019

 

$

598

 

2020

 

$

502

 

2021

 

$

469

 

2022

 

$

433