Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.5.0.2
Intangible Assets
9 Months Ended
Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Other Intangible Assets

(9)   Intangible Assets

Goodwill

Changes in the carrying amount of goodwill are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and

 

 

 

 

    

QVC

 

zulily

    

Other

    

Total

 

 

 

amounts in millions

 

Balance at January 1, 2016

 

$

5,149

 

860

 

103

 

6,112

 

Acquisition  (1)

 

 

 —

 

57

 

 —

 

57

 

Foreign currency translation adjustments

 

 

35

 

 —

 

 —

 

35

 

Disposition (2)

 

 

 —

 

 —

 

(21)

 

(21)

 

Other

 

 

 —

 

 —

 

1

 

1

 

Balance at September 30, 2016

 

$

5,184

 

917

 

83

 

6,184

 


(1)

As discussed in note 2, subsequent to December 31, 2015, the preliminary purchase price allocation for the zulily acquisition was adjusted, resulting in a $57 million increase to goodwill.

(2)

As discussed in note 2, Liberty completed the Spin-Off of CommerceHub on July 22, 2016, resulting in a $21 million decrease to goodwill.

Intangible Assets Subject to Amortization

Amortization expense for intangible assets with finite useful lives was $181 million and $115 million for the three months ended September 30, 2016 and 2015, respectively, and $538 million and $367 million for the nine months ended September 30, 2016 and 2015, respectively. Based on its amortizable intangible assets as of September 30, 2016, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):

 

 

 

 

 

 

Remainder of 2016

    

$

154

 

2017

 

$

513

 

2018

 

$

247

 

2019

 

$

98

 

2020

 

$

60