Liberty Broadband Corp Goodwill & Intangibles Disclosure
(6) Goodwill and Intangible Assets
Goodwill and Indefinite Lived Assets
Changes in the carrying amount of goodwill are as follows:
|
| |||||
GCI Holdings | Total |
| ||||
| amounts in millions | |||||
Balance at December 31, 2022 | $ | 755 | 755 | |||
Balance at December 31, 2023 | 755 | 755 | ||||
Balance at December 31, 2024 | $ | 755 | 755 | |||
As presented in the accompanying consolidated balance sheets, cable certificates are the majority of the other significant indefinite lived intangible assets.
Intangible Assets Subject to Amortization, net
| December 31, 2024 |
| December 31, 2023 | |||||||||||
Gross | Net | Gross | Net | |||||||||||
carrying | Accumulated | carrying | carrying | Accumulated | carrying | |||||||||
| amount |
| amortization |
| amount |
| amount |
| amortization |
| amount | |||
amounts in millions | ||||||||||||||
Customer relationships | $ | 515 | (173) | 342 | 515 | (132) | 383 | |||||||
Other amortizable intangible assets |
| 165 | (96) | 69 |
| 156 | (78) | 78 | ||||||
Total | $ | 680 | (269) | 411 | 671 | (210) | 461 | |||||||
Intangible assets are being amortized generally on an accelerated basis as reflected in amortization expense and in the future amortization table below.
Amortization expense for intangible assets with finite useful lives was $60 million, $64 million and $67 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for amortizable intangible assets for each of the five succeeding fiscal years is estimated to be (amounts in millions):
|
| ||
2025 | $ | 56 | |
2026 | $ | 53 | |
2027 | $ | 50 | |
2028 | $ | 49 | |
2029 | $ | 42 |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Feb 27, 2025 | Showing above |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2016 | Feb 17, 2017 | |
| 2015 | Feb 12, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.