| Intangible Assets |
(8)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 |
​ |
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amountsÌýinÌýmillions |
​ |
Balance at JanuaryÌý1, 2019 |
​ |
$ |
14,250 |
Ìý |
3,956 |
​ |
180 |
Ìý |
18,386 |
​ |
Acquisition (a) |
​ |
Ìý |
1,566 |
Ìý |
— |
​ |
— |
Ìý |
1,566 |
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Balance at September 30, 2019 |
​ |
$ |
15,816 |
Ìý |
3,956 |
​ |
180 |
Ìý |
19,952 |
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| (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
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September 30, 2019 |
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December 31, 2018 |
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ÌýÌýÌýÌý |
Gross |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Net |
ÌýÌýÌýÌý |
Gross |
ÌýÌýÌýÌý |
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ÌýÌýÌýÌý |
Net |
Ìý |
​ |
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carrying |
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Accumulated |
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carrying |
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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 |
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amount |
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amortization |
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amount |
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amountsÌýinÌýmillions |
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FIA Agreement |
​ |
$ |
3,630 |
​ |
(494) |
​ |
3,136 |
​ |
3,630 |
​ |
(346) |
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3,284 |
​ |
Customer relationships |
​ |
​ |
3,086 |
​ |
(1,040) |
​ |
2,046 |
Ìý |
2,684 |
Ìý |
(795) |
Ìý |
1,889 |
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Licensing agreements |
​ |
Ìý |
316 |
​ |
(179) |
​ |
137 |
Ìý |
316 |
Ìý |
(162) |
Ìý |
154 |
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Other |
​ |
Ìý |
1,577 |
​ |
(817) |
​ |
760 |
Ìý |
1,047 |
Ìý |
(659) |
Ìý |
388 |
​ |
Total |
​ |
$ |
8,609 |
​ |
(2,530) |
​ |
6,079 |
Ìý |
7,677 |
Ìý |
(1,962) |
Ìý |
5,715 |
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Amortization expense for intangible assets with finite useful lives was $204 million and $170 million for the three months ended September 30, 2019 and 2018, respectively, and $593 million and $492 million for the nine months ended September 30, 2019 and 2018, respectively. Based on its amortizable intangible assets as of September 30, 2019, ÎçҹѰ»¨ expects that amortization expense will be as follows for the next five years (amounts in millions):
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Remainder of 2019 |
ÌýÌýÌýÌý |
$ |
202 |
Ìý |
2020 |
​ |
$ |
801 |
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2021 |
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$ |
664 |
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2022 |
​ |
$ |
574 |
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2023 |
​ |
$ |
536 |
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