| Intangible Assets |
(7)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, 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
​
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
September 30, 2021 |
​ |
December 31, 2020 |
​ |
​ |
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 |
​ |
(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 |
​ |
​
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, Â鶹×îгöÆ· expects that amortization expense will be as follows for the next five years (amounts in millions):
​
​ |
​ |
​ |
​ |
​ |
Remainder of 2021 |
ÌýÌýÌýÌý |
$ |
196 |
Ìý |
2022 |
​ |
$ |
778 |
​ |
2023 |
​ |
$ |
574 |
​ |
2024 |
​ |
$ |
417 |
​ |
2025 |
​ |
$ |
363 |
​ |
​
|