Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.22.1
Intangible Assets
3 Months Ended
Mar. 31, 2022
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, 2022

$

15,112

3,956

180

19,248

Acquisitions (a)

 

28

 

 

28

Other

(4)

(4)

Balance at March 31, 2022

$

15,140

 

3,956

176

 

19,272

(a) Sirius XM Holdings recorded goodwill related to an acquisition in January 2022.

Intangible Assets Subject to Amortization

March 31, 2022

December 31, 2021

    

Gross

    

    

Net

    

Gross

    

    

Net

 

carrying

Accumulated

carrying

carrying

Accumulated

carrying

amount

amortization

amount

amount

amortization

amount

amounts in millions

FIA Agreement

$

3,630

(984)

2,646

3,630

(936)

2,694

Customer relationships

3,054

(1,744)

1,310

 

3,053

 

(1,679)

 

1,374

Licensing agreements

 

355

(248)

107

 

355

 

(243)

 

112

Other

 

2,006

(1,389)

617

 

1,933

 

(1,316)

 

617

Total

$

9,045

(4,365)

4,680

 

8,971

 

(4,174)

 

4,797

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):

Remainder of 2022

    

$

587

 

2023

$

726

2024

$

411

2025

$

358

2026

$

342