| 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) |
|
|
97 |
|
— |
|
— |
|
97 |
|
Other |
|
|
— |
|
— |
|
(4) |
|
(4) |
|
Balance at June 30, 2022 |
|
$ |
15,209 |
|
3,956 |
|
176 |
|
19,341 |
|
| (a) |
Sirius XM Holdings recorded goodwill related to acquisitions in January 2022 and May 2022. |
Intangible Assets Subject to Amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 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 |
|
(1,031) |
|
2,599 |
|
3,630 |
|
(936) |
|
2,694 |
|
Customer relationships |
|
|
3,054 |
|
(1,809) |
|
1,245 |
|
3,053 |
|
(1,679) |
|
1,374 |
|
Licensing agreements |
|
|
359 |
|
(257) |
|
102 |
|
355 |
|
(243) |
|
112 |
|
Other |
|
|
2,066 |
|
(1,467) |
|
599 |
|
1,933 |
|
(1,316) |
|
617 |
|
Total |
|
$ |
9,109 |
|
(4,564) |
|
4,545 |
|
8,971 |
|
(4,174) |
|
4,797 |
|
Amortization expense for intangible assets with finite useful lives was $196 million and $202 million for the three months ended June 30, 2022 and 2021, respectively, and $391 million and $401 million for the six months ended June 30, 2022 and 2021, respectively. Based on its amortizable intangible assets as of June 30, 2022, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):
|
|
|
|
|
Remainder of 2022 |
|
$ |
385 |
|
2023 |
|
$ |
745 |
|
2024 |
|
$ |
419 |
|
2025 |
|
$ |
366 |
|
2026 |
|
$ |
349 |
|
|