Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v3.10.0.1
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets

Goodwill and Indefinite Lived Assets

Changes in the carrying amount of goodwill are as follows:
 
 
GCI Holdings
 
Corporate and other
 
Total
 
 
amounts in thousands
Balance at January 1, 2018
 
$
—

 
25,569

 
25,569

Acquisitions
 
966,044

 
—

 
966,044

Impairment
 
(135,776
)
 
—

 
(135,776
)
Balance at December 31, 2018
 
$
830,268

 
25,569

 
855,837



As presented in the accompanying consolidated balance sheets, cable certificates and wireless licenses are the other significant indefinite lived intangible asset.

Intangible Assets Subject to Amortization
 
 
December 31, 2018
 
    
Gross
    
 
    
Net
 
 
carrying
 
Accumulated
 
carrying
 
 
amount
 
amortization
 
amount
 
 
amounts in thousands
Customer relationships
 
$
408,267

 
(55,417
)
 
352,850

Other amortizable intangibles
 
122,759

 
(39,603
)
 
83,156

Total
 
$
531,026

 
(95,020
)
 
436,006




Amortization expense for intangible assets with finite useful lives was $53.5 million for the year ended December 31, 2018. Amortization expense for amortizable intangible assets for each of the five succeeding fiscal years is estimated to be (amounts in thousands):
Years Ending December 31,
 
2019
$
59,790

2020
$
49,892

2021
$
39,548

2022
$
34,428

2023
$
32,341



Impairments

Due to unanticipated program revenue changes and certain other market factors impacting GCI Holdings operating results, impairment losses of $136 million and $65 million were recorded during the year ended December 31, 2018 related to goodwill and cable certificates, respectively, related to the GCI Holdings reporting unit. The fair value of the cable certificates and the GCI Holdings reporting unit was determined using an income approach (Level 3). As of December 31, 2018, the GCI Holdings and Corporate and Other segments have accumulated goodwill impairment losses of $136 million and $56 million, respectively.

Based on the quantitative assessment performed during the fourth quarter and the resulting impairment losses recorded, the estimated fair values of the cable certificates and the GCI Holdings reporting unit do not significantly exceed their carrying values as of December 31, 2018.