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Wireless Licenses, Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Wireless Licenses, Goodwill, and Other Intangible Assets
Note 4. Wireless Licenses, Goodwill, and Other Intangible Assets
Wireless Licenses
The carrying amounts of our Wireless licenses, as well as wireless spectrum for which licenses had not yet been received, are as follows:
At September 30,At December 31,
(dollars in millions)20212020
Wireless licenses$145,767 $96,097 
Deposits for wireless licenses— 2,772 

At September 30, 2021 and 2020, approximately $54.8 billion and $6.9 billion, respectively, of wireless licenses were under development for commercial service for which we were capitalizing interest costs. We recorded approximately $1.1 billion and $171 million of capitalized interest on wireless licenses for the nine months ended September 30, 2021 and 2020, respectively.

In July 2021, we received the wireless licenses won in connection with the FCC's auction for C-Band wireless spectrum, Auction 107. As a result, these wireless licenses, including capitalized interest, were reclassified from Deposits for wireless licenses to Wireless licenses in our condensed consolidated balance sheet. Refer to Note 3 for additional information regarding spectrum license transactions.

In the first quarter of 2020, we reclassified substantially all of our 39 GHz wireless licenses, including capitalized interest, with a carrying value of $2.8 billion to assets held for sale in connection with the FCC's incentive auction, Auction 103. As a result, these wireless licenses were adjusted down to their fair value of $1.6 billion resulting in a pre-tax loss of $1.2 billion ($914 million after-tax) in 2020. The new reconfigured licenses were received in the second quarter 2020 and had a value of $3.4 billion.

During the nine months ended September 30, 2021, we renewed various wireless licenses in accordance with FCC regulations. The average renewal period for these licenses was 10 years.
Goodwill
Changes in the carrying amount of Goodwill are as follows:
(dollars in millions)ConsumerBusinessOtherTotal
Balance at January 1, 2021 (1)
$17,222 $7,535 $16 $24,773 
Acquisitions (2)
92 — 37 129 
Reclassifications, adjustments and other3 (17)(1)(15)
Balance at September 30, 2021 (1)
$17,317 $7,518 $52 $24,887 
(1) Goodwill is net of accumulated impairment charges of $4.8 billion, related to our historical Media reporting unit, which included Verizon Media. On September 1, 2021, we completed the sale of Verizon Media. See Note 3 for additional information.
(2) The change in goodwill due to acquisitions is related to Bluegrass and other insignificant transactions. See Note 3 for additional information.

Other Intangible Assets
The following table displays the composition of Other intangible assets, net as well as the respective amortization period:
 At September 30, 2021At December 31, 2020
(dollars in millions)
Gross (1)
Amount
Accumulated
Amortization		Net
Amount		Gross
Amount		Accumulated
Amortization		Net
Amount
Customer lists (8 to 13 years)
$1,933 $(1,033)$900 $4,021 $(1,961)$2,060 
Non-network internal-use software (5 to 7 years)
20,525 (14,524)6,001 21,685 (15,104)6,581 
Other (4 to 25 years)
869 (748)121 1,771 (999)772 
Total$23,327 $(16,305)$7,022 $27,477 $(18,064)$9,413 
(1) Other intangible assets are net of assets disposed as a result of the closing of the Verizon Media sale on September 1, 2021. See Note 3 for additional information.

The amortization expense for Other intangible assets was as follows: 
Three Months EndedNine Months Ended
(dollars in millions)September 30,September 30,
2021$430 $1,539 
2020621 1,818 

The estimated future amortization expense for Other intangible assets for the remainder of the current year and next 5 years is as follows:
Years(dollars in millions)
Remainder of 2021$440 
20221,632 
20231,426 
20241,187 
2025994 
2026758