| Intangible Assets |
(7) Intangible Assets
Goodwill
Changes in the carrying amount of goodwill are as follows:
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Sirius XM Holdings |
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Formula 1 |
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Other |
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Total |
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amounts in millions |
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Balance at January 1, 2022 |
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$ |
15,112 |
|
3,956 |
|
180 |
|
19,248 |
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Acquisitions (a) |
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28 |
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— |
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— |
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28 |
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Other |
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— |
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— |
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(4) |
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(4) |
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Balance at March 31, 2022 |
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$ |
15,140 |
|
3,956 |
|
176 |
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19,272 |
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| (a) |
Sirius XM Holdings recorded goodwill related to an acquisition in January 2022. |
Intangible Assets Subject to Amortization
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March 31, 2022 |
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December 31, 2021 |
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Gross |
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Net |
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Gross |
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Net |
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carrying |
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Accumulated |
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carrying |
|
carrying |
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Accumulated |
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carrying |
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amount |
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amortization |
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amount |
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amount |
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amortization |
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amount |
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amounts in millions |
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FIA Agreement |
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$ |
3,630 |
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(984) |
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2,646 |
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3,630 |
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(936) |
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2,694 |
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Customer relationships |
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3,054 |
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(1,744) |
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1,310 |
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3,053 |
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(1,679) |
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1,374 |
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Licensing agreements |
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|
355 |
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(248) |
|
107 |
|
355 |
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(243) |
|
112 |
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Other |
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|
2,006 |
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(1,389) |
|
617 |
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1,933 |
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(1,316) |
|
617 |
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Total |
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$ |
9,045 |
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(4,365) |
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4,680 |
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8,971 |
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(4,174) |
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4,797 |
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Amortization expense for intangible assets with finite useful lives was $195 million and $199 million for the three months ended March 31, 2022 and 2021, respectively. Based on its amortizable intangible assets as of March 31, 2022, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):
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Remainder of 2022 |
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$ |
587 |
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2023 |
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$ |
726 |
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2024 |
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$ |
411 |
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2025 |
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$ |
358 |
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2026 |
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$ |
342 |
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