|6 Months Ended|
Jun. 30, 2022
(5) Intangible Assets
Changes in the carrying amount of goodwill are as follows:
Intangible Assets Subject to Amortization
Amortization expense for intangible assets with finite useful lives was $78 million and $85 million for the three months ended June 30, 2022 and 2021, respectively, and $160 million and $167 million for the six months ended June 30, 2022 and 2021, respectively. Based on its amortizable intangible assets as of June 30, 2022, Qurate Retail expects that amortization expense will be as follows for the next five years (amounts in millions):
QVC’s current business trends and global economic conditions are making it a challenge for the business to be able to realize its current long-term forecast. The Company will continue to monitor its current business performance versus the current and updated long-term forecasts, among other relevant considerations, to determine if the carrying value of its assets (including Goodwill and Trademarks) is appropriate. Future outlook declines in revenue, cash flows, or other factors could result in a sustained decrease in fair value that may result in a determination that carrying value adjustments are required, which could be material.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef