INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

INTANGIBLE ASSETS

Our amortizable intangible assets primarily consist of customer relationships acquired pursuant to business combinations and represent the value of the business relationship with those customers.

The following table summarizes information relating to our acquired amortizable intangible assets: 

	As of December 31, 2023						As of December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Estimated Useful Lives
Customer relationships	$	6,073,152	$	(4,824,140)	$	1,249,012	$	6,123,586	$	(4,484,286)	$	1,639,300	3 to 18 years
Trade names	1,010,300		(1,010,300)		—		1,024,300		(1,018,212)		6,088		4 to 10 years
Other amortizable intangibles	50,495		(40,172)		10,323		62,119		(47,176)		14,943		1 to 15 years
	$	7,133,947	$	(5,874,612)	$	1,259,335	$	7,210,005	$	(5,549,674)	$	1,660,331

During the third quarter of 2022, we reduced the gross carrying amount and accumulated amortization of our fully amortized Suddenlink trademark by approximately $56,783, as we rebranded our entire footprint under the Optimum trademark.

Amortization expense for the years ended December 31, 2023, 2022 and 2021 aggregated $391,378, $555,308, and $641,836, respectively.

The following table sets forth the estimated amortization expense on intangible assets for the periods presented:

Estimated amortization expense
Year Ending December 31, 2024	$309,717
Year Ending December 31, 2025	262,152
Year Ending December 31, 2026	217,182
Year Ending December 31, 2027	173,411
Year Ending December 31, 2028	130,122

Goodwill and the value of indefinite-lived cable franchises acquired in business combinations are not amortized. Rather, such assets are tested for impairment annually or whenever events or changes in circumstances indicate that it is more likely than not that the assets may be impaired. See Note 2 for additional for additional information. The carrying amount of indefinite-lived cable franchise rights and goodwill is presented below:

	Indefinite-lived Cable Franchise Rights		Goodwill
Balance as of December 31, 2021	$	13,216,355	$	8,205,863
Goodwill recorded in connection with acquisitions	—		2,910
Balance as of December 31, 2022	13,216,355		8,208,773
Adjustment related to 2022 acquisition	—		(1,002)
Goodwill impairment	—		(163,055)
Balance as of December 31, 2023	$	13,216,355	$	8,044,716

Goodwill Impairment

We assess the recoverability of our goodwill annually as of October 1 ("annual impairment test date"). As of the annual impairment test date, goodwill amounted to $8,207,771 ($8,044,716 related to our Telecommunications reporting unit and $163,055 related to our News and Advertising reporting unit). The goodwill related to our Telecommunications reporting unit was recorded in connection with the Cequel Acquisition in 2015 and the Cablevision Acquisition in 2016 and approximately $130,040 of the goodwill related to our News and Advertising reporting unit was recorded in connection with the acquisition of Cheddar Inc. in 2019.