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Goodwill and Other Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2024
Changes in Carrying Amount of Goodwill
The changes in the carrying amount of goodwill, by segment, were as follows:
(in thousands)EducationTelevision
Broadcasting
ManufacturingHealthcareAutomotiveOther
Businesses
Total
Balance as of December 31, 2023        
Goodwill$1,163,991 $190,815 $234,993 $135,038 $129,280 $251,216 $2,105,333 
Accumulated impairment losses
(331,151)— (82,062)— — (166,926)(580,139)
832,840 190,815 152,931 135,038 129,280 84,290 1,525,194 
Acquisitions4,011      4,011 
Impairments     (7,502)(7,502)
Foreign currency exchange rate changes
(9,256)     (9,256)
Balance as of June 30, 2024        
Goodwill1,158,746 190,815 234,993 135,038 129,280 251,216 2,100,088 
Accumulated impairment losses
(331,151) (82,062)  (174,428)(587,641)
$827,595 $190,815 $152,931 $135,038 $129,280 $76,788 $1,512,447 
Other Intangible Assets
Other intangible assets consist of the following:
As of June 30, 2024As of December 31, 2023
(in thousands)Useful Life
Range
Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
 Carrying
Amount
Amortized Intangible Assets              
Student and customer relationships
2–10 years
$282,234 $246,479 $35,755 $283,098 $236,776 $46,322 
Trade names and trademarks
2–10 years (1)
117,971 90,563 27,408 143,389 90,558 52,831 
Network affiliation agreements
10 years
17,400 12,977 4,423 17,400 13,348 4,052 
Databases and technology
3–6 years
36,307 36,192 115 36,538 35,712 826 
Other
1–8 years
41,514 36,207 5,307 41,327 33,164 8,163 
    $495,426 $422,418 $73,008 $521,752 $409,558 $112,194 
Indefinite-Lived Intangible Assets
              
Franchise agreements$92,158 $92,158 
Trade names and trademarks  84,050     84,533     
FCC licenses11,000 11,000 
Other171 171 
  $187,379 $187,862 
___________
(1)     As of December 31, 2023, the trade names and trademarks’ maximum useful life was 15 years.
Education [Member]  
Changes in Carrying Amount of Goodwill
The changes in carrying amount of goodwill at the Company’s education division were as follows:
(in thousands)Kaplan
International
Higher
Education
Supplemental EducationTotal
Balance as of December 31, 2023      
Goodwill$598,000 $174,564 $391,427 $1,163,991 
Accumulated impairment losses— (111,324)(219,827)(331,151)
598,000 63,240 171,600 832,840 
Acquisitions4,011   4,011 
Foreign currency exchange rate changes(9,191) (65)(9,256)
Balance as of June 30, 2024      
Goodwill592,820 174,564 391,362 1,158,746 
Accumulated impairment losses (111,324)(219,827)(331,151)
$592,820 $63,240 $171,535 $827,595