Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.21.2
Intangible Assets
9 Months Ended
Sep. 30, 2021
Intangible Assets

(7)   Intangible Assets

Goodwill

Changes in the carrying amount of goodwill are as follows:

    

Sirius XM Holdings

    

Formula 1

Other

    

Total

 

amounts in millions

Balance at January 1, 2021

$

15,082

3,956

180

19,218

Acquisitions (a)

 

29

 

 

29

Balance at September 30, 2021

$

15,111

 

3,956

180

 

19,247

(a) Sirius XM Holdings recorded goodwill related to an acquisition in April 2021 and recorded adjustments to contingent consideration for the prior year acquisition of Stitcher.

Intangible Assets Subject to Amortization

September 30, 2021

December 31, 2020

    

Gross

    

    

Net

    

Gross

    

    

Net

 

carrying

Accumulated

carrying

carrying

Accumulated

carrying

amount

amortization

amount

amount

amortization

amount

amounts in millions

FIA Agreement

$

3,630

(888)

2,742

3,630

(742)

2,888

Customer relationships

3,053

(1,606)

1,447

 

3,053

 

(1,389)

 

1,664

Licensing agreements

 

355

(237)

118

 

355

 

(221)

 

134

Other

 

1,883

(1,257)

626

 

1,748

 

(1,056)

 

692

Total

$

8,921

(3,988)

4,933

 

8,786

 

(3,408)

 

5,378

Amortization expense for intangible assets with finite useful lives was $205 million and $214 million for the three months ended September 30, 2021 and 2020, respectively, and $606 million and $609 million for the nine months ended September 30, 2021 and 2020, respectively. Based on its amortizable intangible assets as of September 30, 2021, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):

Remainder of 2021

    

$

196

 

2022

$

778

2023

$

574

2024

$

417

2025

$

363