Broadcast Licenses, Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Broadcast Licenses, Goodwill and Other Intangible Assets

We have recorded the changes to broadcast licenses for the years ended December 31, 2019 and 2018 as follows:



	Total
	(in thousands)

Balance at January 1,2018	$	93,259
Acquisitions		1,991
Balance at December 31,2018	$	95,250
Acquisitions		61
Balance at December 31,2019	$	95,311

Key estimates and assumptions used in the impairment test

The following table reflects certain key estimates and assumptions used in the impairment test in the fourth quarter of 2019, 2018 and 2017. The ranges for operating profit margin and market long-term revenue growth rates vary by market. In general, when comparing between 2019, 2018 and 2017: (1) the market specific operating profit margin range remained relatively consistent; (2) the market long-term revenue growth rates were relatively consistent; (3) the discount rate remained relatively consistent; and (4) current year revenues were 0.7% lower than previously projected for 2019.


	Fourth	Fourth	Fourth
	Quarter	Quarter	Quarter
	2019	2018	2017
Discount rates	12.2% - 12.2%	12.0% - 12.0%	12.4% - 12.5%
Operating profit margin ranges	19.0% - 36.4%	19.0% - 36.4%	19.0% - 36.4%
Market long-term revenue growth rates	0.0% - 2.9%	0.5% - 2.9%	1.1% - 3.5%

Changes to Goodwill

We have recorded the changes to goodwill for each of the years ended December 31, 2019 and 2018 as follows:


	Total
	(in thousands)

Balance at January 1,2018	$	15,558
Acquisitions		3,281
Balance at December 31,2018	$	18,839
Acquisitions		124
Balance at December 31,2019	$	18,963

Amortizable intangible assets

We have recorded amortizable intangible assets at December 31, 2019 as follows:


	Gross
	Carrying		Accumulated		Net
	Amount		Amortization		Amount
	(In thousands)
Non-competition agreements	$	3,861	$	3,861	$	—
Favorable lease agreements		5,965		5,539		426
Customer relationships		4,660		3,584		1,076
Other intangibles		1,834		1,727		107
Total amortizable intangible assets	$	16,320	$	14,711	$	1,609

We have recorded amortizable intangible assets at December 31, 2018 as follows:


	Gross
	Carrying		Accumulated		Net
	Amount		Amortization		Amount
	(In thousands)
Non-competition agreements	$	3,861	$	3,861	$	—
Favorable lease agreements		5,965		5,504		461
Customer relationships		4,660		2,634		2,026
Other intangibles		1,943		1,683		260
Total amortizable intangible assets	$	16,429	$	13,682	$	2,747