Liberty Media Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

3 Months Ended

Mar. 31, 2019

Intangible Assets

Intangible Assets

(9) 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, 2019	$	14,250	3,956	180	18,386
Acquisition (a)		1,541	—	—	1,541
Balance at March 31, 2019	$	15,791	3,956	180	19,927

(a)

See note 3 for details regarding SIRIUS XM Holdings’ acquisition of Pandora.

(b)

Intangible Assets Not Subject to Amortization

During the three months ended March 31, 2019, SIRIUS XM Holdings recorded $331 million of tradenames related to the Pandora acquisition. See note 3 for details regarding the acquisition of Pandora.

Intangible Assets Subject to Amortization


	March 31, 2019				December 31, 2018
	Gross			Net	Gross		Net
	carrying		Accumulated	carrying	carrying	Accumulated	carrying
	amount		amortization	amount	amount	amortization	amount
	amounts in millions
FIA Agreement	$	3,630	(396)	3,234	3,630	(346)	3,284
Customer relationships		3,086	(874)	2,212	2,684	(795)	1,889
Licensing agreements		316	(168)	148	316	(162)	154
Other		1,471	(698)	773	1,047	(659)	388
Total	$	8,503	(2,136)	6,367	7,677	(1,962)	5,715

Amortization expense for intangible assets with finite useful lives was $182 million and $154 million for the three months ended March 31, 2019 and 2018, respectively. Based on its amortizable intangible assets as of March 31, 2019, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):


Remainder of 2019	$	676
2020	$	788
2021	$	614
2022	$	561
2023	$	506