| 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 |
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Other |
ÌýÌýÌýÌý |
Total |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Balance at JanuaryÌý1, 2022 |
​ |
$ |
15,112 |
​ |
3,956 |
​ |
180 |
​ |
19,248 |
​ |
Acquisitions (a) |
​ |
Ìý |
97 |
Ìý |
— |
​ |
— |
Ìý |
97 |
​ |
Other |
​ |
​ |
— |
​ |
— |
​ |
(4) |
​ |
(4) |
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Balance at September 30, 2022 |
​ |
$ |
15,209 |
Ìý |
3,956 |
​ |
176 |
Ìý |
19,341 |
​ |
| (a) |
Sirius XM Holdings recorded goodwill related to acquisitions in January 2022 and May 2022. |
Intangible Assets Subject to Amortization
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September 30, 2022 |
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December 31, 2021 |
​ |
​ |
ÌýÌýÌýÌý |
Gross |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Net |
ÌýÌýÌýÌý |
Gross |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Net |
Ìý |
​ |
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carrying |
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Accumulated |
​ |
carrying |
​ |
carrying |
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Accumulated |
​ |
carrying |
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amount |
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amortization |
​ |
amount |
​ |
amount |
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amortization |
​ |
amount |
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|
​ |
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amountsÌýinÌýmillions |
​ |
FIA Agreement |
​ |
$ |
3,630 |
​ |
(1,078) |
​ |
2,552 |
​ |
3,630 |
​ |
(936) |
​ |
2,694 |
​ |
Customer relationships |
​ |
​ |
3,054 |
​ |
(1,870) |
​ |
1,184 |
Ìý |
3,053 |
Ìý |
(1,679) |
Ìý |
1,374 |
​ |
Licensing agreements |
​ |
Ìý |
359 |
​ |
(267) |
​ |
92 |
Ìý |
355 |
Ìý |
(243) |
Ìý |
112 |
​ |
Other |
​ |
Ìý |
2,116 |
​ |
(1,538) |
​ |
578 |
Ìý |
1,933 |
Ìý |
(1,316) |
Ìý |
617 |
​ |
Total |
​ |
$ |
9,159 |
​ |
(4,753) |
​ |
4,406 |
Ìý |
8,971 |
Ìý |
(4,174) |
Ìý |
4,797 |
​ |
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Amortization expense for intangible assets with finite useful lives was $199 million and $205 million for the three months ended September 30, 2022 and 2021, respectively, and $590 million and $606 million for the nine months ended September 30, 2022 and 2021, respectively. Based on its amortizable intangible assets as of September 30, 2022, Â鶹×îгöÆ· expects that amortization expense will be as follows for the next five years (amounts in millions):
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Remainder of 2022 |
ÌýÌýÌýÌý |
$ |
190 |
Ìý |
2023 |
​ |
$ |
755 |
​ |
2024 |
​ |
$ |
443 |
​ |
2025 |
​ |
$ |
372 |
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2026 |
​ |
$ |
356 |
​ |
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