| Intangible Assets |
(8) 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 |
|
Balance at January 1, 2020 |
|
$ |
15,803 |
|
3,956 |
|
180 |
|
19,939 |
|
Acquisition (a) |
|
|
17 |
|
— |
|
— |
|
17 |
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Balance at September 30, 2020 |
|
$ |
15,820 |
|
3,956 |
|
180 |
|
19,956 |
|
| (a) |
See note 3 for additional information regarding Sirius XM Holdings’ acquisition of Simplecast. |
Intangible Assets Subject to Amortization
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September 30, 2020 |
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December 31, 2019 |
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Gross |
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Net |
|
Gross |
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|
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Net |
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|
|
carrying |
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Accumulated |
|
carrying |
|
carrying |
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Accumulated |
|
carrying |
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|
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amount |
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amortization |
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amount |
|
amount |
|
amortization |
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amount |
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|
|
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amounts in millions |
|
FIA Agreement |
|
$ |
3,630 |
|
(692) |
|
2,938 |
|
3,630 |
|
(543) |
|
3,087 |
|
Customer relationships |
|
|
3,086 |
|
(1,355) |
|
1,731 |
|
3,086 |
|
(1,123) |
|
1,963 |
|
Licensing agreements |
|
|
315 |
|
(200) |
|
115 |
|
316 |
|
(185) |
|
131 |
|
Other |
|
|
1,767 |
|
(1,062) |
|
705 |
|
1,636 |
|
(877) |
|
759 |
|
Total |
|
$ |
8,798 |
|
(3,309) |
|
5,489 |
|
8,668 |
|
(2,728) |
|
5,940 |
|
Amortization expense for intangible assets with finite useful lives was $214 million and $204 million for the three months ended September 30, 2020 and 2019, respectively, and $609 million and $593 million for the nine months ended
September 30, 2020 and 2019, respectively. Based on its amortizable intangible assets as of September 30, 2020, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):
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|
|
|
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Remainder of 2020 |
|
$ |
201 |
|
2021 |
|
$ |
752 |
|
2022 |
|
$ |
658 |
|
2023 |
|
$ |
526 |
|
2024 |
|
$ |
407 |
|
|