| Intangible Assets |
(8)ÌýÌýÌýIntangible Assets
Goodwill
Changes in the carrying amount of goodwill are as follows:
​
|
|
|
|
|
|
|
|
|
|
|
​ |
ÌýÌýÌýÌý |
SiriusÌýXM Holdings |
ÌýÌýÌýÌý |
Formula 1 |
​ |
Other |
ÌýÌýÌýÌý |
Total |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Balance at JanuaryÌý1, 2020 |
​ |
$ |
15,803 |
Ìý |
3,956 |
​ |
180 |
Ìý |
19,939 |
​ |
Acquisition (a) |
​ |
Ìý |
17 |
Ìý |
— |
​ |
— |
Ìý |
17 |
​ |
Balance at June 30, 2020 |
​ |
$ |
15,820 |
Ìý |
3,956 |
​ |
180 |
Ìý |
19,956 |
​ |
| (a) |
See note 3 for details regarding Sirius XM Holdings’ acquisition of Simplecast. |
Intangible Assets Subject to Amortization
​
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
June 30, 2020 |
​ |
December 31, 2019 |
​ |
​ |
ÌýÌýÌýÌý |
Gross |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Net |
ÌýÌýÌýÌý |
Gross |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Net |
Ìý |
​ |
​ |
carrying |
​ |
Accumulated |
​ |
carrying |
​ |
carrying |
​ |
Accumulated |
​ |
carrying |
​ |
​ |
​ |
amount |
​ |
amortization |
​ |
amount |
​ |
amount |
​ |
amortization |
​ |
amount |
​ |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
FIA Agreement |
​ |
$ |
3,630 |
​ |
(643) |
​ |
2,987 |
​ |
3,630 |
​ |
(543) |
​ |
3,087 |
​ |
Customer relationships |
​ |
​ |
3,086 |
​ |
(1,278) |
​ |
1,808 |
Ìý |
3,086 |
Ìý |
(1,123) |
Ìý |
1,963 |
​ |
Licensing agreements |
​ |
Ìý |
315 |
​ |
(195) |
​ |
120 |
Ìý |
316 |
Ìý |
(185) |
Ìý |
131 |
​ |
Other |
​ |
Ìý |
1,727 |
​ |
(989) |
​ |
738 |
Ìý |
1,636 |
Ìý |
(877) |
Ìý |
759 |
​ |
Total |
​ |
$ |
8,758 |
​ |
(3,105) |
​ |
5,653 |
Ìý |
8,668 |
Ìý |
(2,728) |
Ìý |
5,940 |
​ |
​
Amortization expense for intangible assets with finite useful lives was $197 million and $207 million for the three months ended June 30, 2020 and 2019, respectively, and $395 million and $389 million for the six months ended June 30,
2020 and 2019, respectively. Based on its amortizable intangible assets as of June 30, 2020, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):
​
​ |
​ |
​ |
​ |
​ |
Remainder of 2020 |
ÌýÌýÌýÌý |
$ |
407 |
Ìý |
2021 |
​ |
$ |
760 |
​ |
2022 |
​ |
$ |
642 |
​ |
2023 |
​ |
$ |
521 |
​ |
2024 |
​ |
$ |
402 |
​ |
​
|