|
(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, 2019 |
​ |
$ |
14,250 |
Ìý |
3,956 |
​ |
180 |
Ìý |
18,386 |
​ |
Acquisition (a) |
​ |
Ìý |
1,562 |
Ìý |
— |
​ |
— |
Ìý |
1,562 |
​ |
Balance at June 30, 2019 |
​ |
$ |
15,812 |
Ìý |
3,956 |
​ |
180 |
Ìý |
19,948 |
​ |
| (a) |
See note 3 for details regarding SIRIUS XM Holdings’ acquisition of Pandora. |
Intangible Assets Not Subject to Amortization
On February 1, 2019, SIRIUS XM Holdings recorded $331 million of tradenames related to the Pandora acquisition. See note 3 for details regarding the acquisition of Pandora.
Intangible Assets Subject to Amortization
​
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
June 30, 2019 |
​ |
December 31, 2018 |
​ |
​ |
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 |
​ |
(445) |
​ |
3,185 |
​ |
3,630 |
​ |
(346) |
​ |
3,284 |
​ |
Customer relationships |
​ |
​ |
3,086 |
​ |
(957) |
​ |
2,129 |
Ìý |
2,684 |
Ìý |
(795) |
Ìý |
1,889 |
​ |
Licensing agreements |
​ |
Ìý |
316 |
​ |
(173) |
​ |
143 |
Ìý |
316 |
Ìý |
(162) |
Ìý |
154 |
​ |
Other |
​ |
Ìý |
1,531 |
​ |
(766) |
​ |
765 |
Ìý |
1,047 |
Ìý |
(659) |
Ìý |
388 |
​ |
Total |
​ |
$ |
8,563 |
​ |
(2,341) |
​ |
6,222 |
Ìý |
7,677 |
Ìý |
(1,962) |
Ìý |
5,715 |
​ |
​
Amortization expense for intangible assets with finite useful lives was $207 million and $168 million for the three months ended June 30, 2019 and 2018, respectively, and $389 million and $322 million for the six months ended June 30, 2019 and 2018, respectively. Based on its amortizable intangible assets as of June 30, 2019, Â鶹×îгöÆ· expects that amortization expense will be as follows for the next five years (amounts in millions):
​
​ |
​ |
​ |
​ |
​ |
Remainder of 2019 |
ÌýÌýÌýÌý |
$ |
432 |
Ìý |
2020 |
​ |
$ |
805 |
​ |
2021 |
​ |
$ |
614 |
​ |
2022 |
​ |
$ |
577 |
​ |
2023 |
​ |
$ |
539 |
​ |
​
|