Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

The following table displays goodwill, indefinite-lived intangible assets, and amortizable intangible assets as of March 31, 2017 and December 31, 2016 (in thousands):



	Mar. 31, 2017					Dec. 31, 2016
	Gross		Accumulated Amortization			Gross		Accumulated Amortization

Goodwill	$	4,070,039	$	—		$	4,067,529	$	—
Indefinite-lived intangibles:
Television station FCC licenses	1,191,950		—			1,191,950		—
Trade names	925,171		—			925,171		—
Amortizable intangible assets:
Customer relationships	929,977		(229,544		)	929,852		(210,691		)
Other	290,984		(123,890		)	290,875		(113,725		)

Customer relationships, which include subscriber lists and advertiser relationships, are amortized on a straight-line basis over their useful lives. Other intangibles primarily include retransmission agreements, network affiliations, developed technology, and patents and are amortized on a straight-line basis over their useful lives.

In September 2016, CareerBuilder acquired 75% of Employee Benefit Specialists, Inc. d/b/a WORKTERRA (Workterra), a cloud-based human capital management platform. In connection with our preliminary purchase accounting related to the Workterra acquisition, we recorded other intangible assets of $13.7 million, related to technology, and customer relationships which will be amortized over a weighted average period of 8 years. The areas of purchase price allocation that are not yet complete are related to the finalization of fair value of intangible assets and customer obligations acquired.

The following table summarizes the changes in our net goodwill balance by segment from December 31, 2016 through March 31, 2017 (in thousands):



	Media		Digital			Total

Balance at Dec. 31, 2016:
Goodwill	$	2,579,418	$	1,678,300		$	4,257,718
Accumulated impairment losses	—		(190,189		)	(190,189		)
Net balance at Dec. 31, 2016	2,579,418		1,488,111			4,067,529
Activity during the period:
Acquisitions	—		—			—
Impairment	—		—			—
Foreign currency exchange rate changes	—		2,510			2,510
Total	—		2,510			2,510
Balance at Mar. 31, 2017:
Goodwill	2,579,418		1,680,810			4,260,228
Accumulated impairment losses	—		(190,189		)	(190,189		)
Net balance at Mar. 31, 2017	$	2,579,418	$	1,490,621		$	4,070,039

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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