| Intangible Assets |
(7)ÌýÌýÌýIntangible Assets
Goodwill
Changes in the carrying amount of goodwill are as follows:
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ÌýÌýÌýÌý |
SiriusÌýXM Holdings |
ÌýÌýÌýÌý |
Formula 1 |
​ |
Other |
ÌýÌýÌýÌý |
Total |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Balance at JanuaryÌý1, 2021 |
​ |
$ |
15,082 |
​ |
3,956 |
​ |
180 |
​ |
19,218 |
​ |
Acquisitions (a) |
​ |
Ìý |
29 |
Ìý |
— |
​ |
— |
Ìý |
29 |
​ |
Balance at September 30, 2021 |
​ |
$ |
15,111 |
Ìý |
3,956 |
​ |
180 |
Ìý |
19,247 |
​ |
| (a) |
Sirius XM Holdings recorded goodwill related to an acquisition in April 2021 and recorded adjustments to contingent consideration for the prior year acquisition of Stitcher. |
Intangible Assets Subject to Amortization
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September 30, 2021 |
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December 31, 2020 |
​ |
​ |
ÌýÌýÌýÌý |
Gross |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Net |
ÌýÌýÌýÌý |
Gross |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Net |
Ìý |
​ |
​ |
carrying |
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Accumulated |
​ |
carrying |
​ |
carrying |
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Accumulated |
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carrying |
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amount |
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amortization |
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amount |
​ |
amount |
​ |
amortization |
​ |
amount |
​ |
|
​ |
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amountsÌýinÌýmillions |
​ |
FIA Agreement |
​ |
$ |
3,630 |
​ |
(888) |
​ |
2,742 |
​ |
3,630 |
​ |
(742) |
​ |
2,888 |
​ |
Customer relationships |
​ |
​ |
3,053 |
​ |
(1,606) |
​ |
1,447 |
Ìý |
3,053 |
Ìý |
(1,389) |
Ìý |
1,664 |
​ |
Licensing agreements |
​ |
Ìý |
355 |
​ |
(237) |
​ |
118 |
Ìý |
355 |
Ìý |
(221) |
Ìý |
134 |
​ |
Other |
​ |
Ìý |
1,883 |
​ |
(1,257) |
​ |
626 |
Ìý |
1,748 |
Ìý |
(1,056) |
Ìý |
692 |
​ |
Total |
​ |
$ |
8,921 |
​ |
(3,988) |
​ |
4,933 |
Ìý |
8,786 |
Ìý |
(3,408) |
Ìý |
5,378 |
​ |
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Amortization expense for intangible assets with finite useful lives was $205 million and $214 million for the three months ended September 30, 2021 and 2020, respectively, and $606 million and $609 million for the nine months ended September 30, 2021 and 2020, respectively. Based on its amortizable intangible assets as of September 30, 2021, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):
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Remainder of 2021 |
ÌýÌýÌýÌý |
$ |
196 |
Ìý |
2022 |
​ |
$ |
778 |
​ |
2023 |
​ |
$ |
574 |
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2024 |
​ |
$ |
417 |
​ |
2025 |
​ |
$ |
363 |
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