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8-K
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 04/07/2016
Entire Document
 
BRIGHT HOUSE NETWORKS, LLC AND SUBSIDARIES
Notes to Consolidated Financial Statements
December 31, 2015, 2014 and 2013


(5)
Investments

Investments consist of the following at December 31:

 
 
2015
 
2014
 
 
(In thousands)
 
 
 
 
 
Equity method investments
 
$
10,420

 
12,006

 
 
 
 
 
Total investments
 
$
10,420

 
12,006


In July 2013, in connection with Sprint Communications, Inc.’s (Sprint) acquisition of Clearwire Corporation (Clearwire), Sprint acquired the Company’s cost method investment of 8.5 million Class A shares of Clearwire for $42.4 million. As a result, the Company recognized a gain of $25.9 million, which is included in Gain from disposal of assets, net and other income in the consolidated statement of income in 2013.

(6)
Intangible Assets and Goodwill

Intangible assets and related accumulated amortization consist of the following at December 31:

 
 
2015
 
2014
 
 
Gross Carrying Amount
 
Accumulated Amortization
 
Total
 
Gross Carrying Amount
 
Accumulated Amortization
 
Total
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
Indefinite-lived cable franchise rights
 
$
801,760

 

 
801,760

 
801,760

 

 
801,760

 
 
 
 
 
 
 
 
 
 
 
 
 
Finite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Renewal of cable franchise rights
 
48,706

 
(35,899
)
 
12,807

 
85,246

 
(82,177
)
 
3,069

Deferred right-of-way costs
 
93,071

 
(49,241
)
 
43,830

 
84,297

 
(40,923
)
 
43,374

Trade names and subscriber lists
 
1,564

 
(938
)
 
626

 
1,564

 
(625
)
 
939

Other
 
5,530

 
(3,659
)
 
1,871

 
5,530

 
(3,188
)
 
2,342

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
148,871

 
(89,737
)
 
59,134

 
176,637

 
(126,913
)
 
49,724

Total intangible
 
 
 
 
 
 
 
 
 
 
 
 
assets, net
 
$
950,631

 
(89,737
)
 
860,894

 
978,397

 
(126,913
)
 
851,484


Amortization expense was $10.2 million, $9.9 million and $9.7 million in 2015, 2014 and 2013, respectively. Based on the current amount of intangible assets subject to amortization, the estimated amortization expense is expected to be $11.0 million in 2016, $10.1 million in 2017, $8.4 million in 2018, $7.0 million in 2019, and $5.7 million in 2020.

There were no changes in the carrying value of the Company’s goodwill from January 1 through December 31, 2015 and 2014, respectively. There were no goodwill impairment charges for the years ended December 31, 2015, 2014 and 2013.


 
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