Note 10 - Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

10. Goodwill and Intangible Assets

As of March 31, 2024 and December 31, 2023, our intangible assets and related accumulated amortization consisted of the following (in millions):

	As of March 31, 2024							As of December 31, 2023
			Accumulated							Accumulated
	Gross		Amortization			Net		Gross		Amortization			Net
Intangible assets not currently subject to amortization:
Broadcast licenses	$	5,374	$	(54	)	$	5,320	$	5,374	$	(54	)	$	5,320
Goodwill		2,643		-			2,643		2,643		-			2,643
	$	8,017	$	(54	)	$	7,963	$	8,017	$	(54	)	$	7,963
Intangible assets subject to amortization:
Network affiliation agreements	$	216	$	(134	)	$	82	$	216	$	(126	)	$	90
Other finite-lived intangible assets		992		(690	)		302		992		(667	)		325
	$	1,208	$	(824	)	$	384	$	1,208	$	(793	)	$	415
Total intangible assets	$	9,225	$	(878	)	$	8,347	$	9,225	$	(847	)	$	8,378

Amortization expense for the three-months ended March 31, 2024 and 2023 was $31 million and $49 million, respectively. Based on the current amount of intangible assets subject to amortization, we expect that amortization expense for the remainder of 2024 will be approximately $93 million, and, for the succeeding five years, amortization expense will be approximately as follows: 2025, $113 million; 2026, $83 million; 2027, $47 million; 2028, $13 million; and 2029, $3 million. If and when acquisitions and dispositions occur in the future, actual amounts may vary from these estimates.