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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

The Company’s intangible assets consisted of the following:

 

 

 

March 31, 2025

 

 

December 31, 2024

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net

 

 

Gross Carrying

 

 

Accumulated

 

 

Net

 

(dollars in millions)

 

Amount

 

 

Amortization

 

 

Amount

 

 

Amount

 

 

Amortization

 

 

Amount

 

Intangible assets subject to amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

545.0

 

 

$

(221.4

)

 

$

323.6

 

 

$

545.0

 

 

$

(208.2

)

 

$

336.8

 

Trade names

 

 

22.4

 

 

 

(20.7

)

 

 

1.7

 

 

 

22.4

 

 

 

(20.6

)

 

 

1.8

 

Technology

 

 

1.1

 

 

 

(0.5

)

 

 

0.6

 

 

 

1.1

 

 

 

(0.5

)

 

 

0.6

 

  Total

 

 

568.5

 

 

 

(242.6

)

 

 

325.9

 

 

 

568.5

 

 

 

(229.3

)

 

 

339.2

 

Intangible assets not subject to amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FCC licenses and spectrum usage rights

 

 

7.4

 

 

 

 

 

 

7.4

 

 

 

7.4

 

 

 

 

 

 

7.4

 

Perpetual licenses

 

 

6.8

 

 

 

 

 

 

6.8

 

 

 

6.8

 

 

 

 

 

 

6.8

 

Total intangible assets

 

$

582.7

 

 

$

(242.6

)

 

$

340.1

 

 

$

582.7

 

 

$

(229.3

)

 

$

353.4

 

Schedule of Estimated Useful Lives for Finite-lived Intangible Assets

The estimated useful lives for each finite-lived intangible asset class are as follows:

 

Customer relationships

 

15 years

Trade names

 

3 to 10 years

Technology

 

7 years

Schedule of Estimated Amortization Expense

The annual estimated amortization expense for future years is as follows:

 

(dollars in millions)

 

 

 

Nine months ending December 31, 2025

 

$

40.1

 

2026

 

 

48.9

 

2027

 

 

44.4

 

2028

 

 

39.8

 

2029

 

 

35.2

 

Thereafter

 

 

117.5

 

Total

 

$

325.9