Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 136

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 136
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 definite-lived intangible assets for the years ended December 31, 2024, 2023, and 2022 was $245.3 million, $246.7 million and $253.6 million, respectively. The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets:(In thousands)2025$213,842 2026201,512 2027176,171 2028160,395 2029121,622 

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IHEARTMEDIA, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

GoodwillThe following tables present the changes in the carrying amount of goodwill:(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupConsolidatedBalance as of December 31, 2022(1)$1,462,022 $747,350 $104,031 $2,313,403 Impairment(121,563)(439,383)(34,515)(595,461)Acquisitions— 3,375 — 3,375 Foreign currency— 84 82 166 Balance as of December 31, 2023$1,340,459 $311,426 $69,598 $1,721,483 Impairment(608,958)— (7,127)(616,085)Foreign currency— (73)(169)(242)Balance as of December 31, 2024$731,501 $311,353 $62,302 $1,105,156 (1)Beginning goodwill balance is presented net of prior accumulated impairment losses of $1.2 billion related to the Multiplatform Group segment. Refer to the table above for impairments recorded in 2024 and 2023.Goodwill ImpairmentThe Company performs its annual impairment test on our goodwill as of July 1 of each year. The Company also tests goodwill at interim dates if events or changes in circumstances indicate that goodwill might be impaired. The impairment testing performed as of June 30, 2024 indicated that carrying values of the Company's Multiplatform and RCS reporting units exceeded their fair values. The fair value of our Digital and Katz reporting units exceeded its carrying value.As discussed above, economic uncertainty has had a significant impact on the Company's revenue and cash flows, as well as the trading values of the Company's