星空传媒 Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

听

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES

NOTE 6 - GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES

GOODWILL

The following is a summary of Goodwill by segment:


(In millions)	September 30, 2024		December 31, 2023
Steelmaking	$	956听	$	956听
Other Businesses	49听		49听
Total goodwill	$	1,005听	$	1,005听

INTANGIBLE ASSETS AND LIABILITIES

The following is a summary of our intangible assets and liabilities:


	September听30, 2024						December听31, 2023
(In millions)	Gross Amount		Accumulated Amortization		Net Amount		Gross Amount		Accumulated Amortization		Net Amount
Intangible assets1:
Customer relationships	$	90听	$	(22)	$	68听	$	90听	$	(18)	$	72听
Developed technology	60听		(17)		43听		60听		(14)		46听
Trade names and trademarks	18听		(6)		12听		18听		(5)		13听
Mining permits	72听		(28)		44听		72听		(28)		44听
Supplier relationships	29听		(5)		24听		29听		(3)		26听
Total intangible assets	$	269听	$	(78)	$	191听	$	269听	$	(68)	$	201听
Intangible liabilities2:
Above-market supply contracts	$	(71)	$	28听	$	(43)	$	(71)	$	24听	$	(47)

1 Intangible assets are classified as Other non-current assets. Amortization related to mining permits is recognized in Cost of goods sold. Amortization of all other intangible assets is recognized in Selling, general and administrative expenses.
2 Intangible liabilities are classified as Other non-current liabilities. Amortization of all intangible liabilities is recognized in Cost of goods sold.

Amortization expense related to intangible assets was $3听million for both the three months ended September听30, 2024 and 2023, and $10听million for both the nine months ended September听30, 2024 and 2023. Estimated future amortization expense is $3 million for the remainder of 2024 and $13 million annually for the years 2025 through 2029.

Income from amortization related to the intangible liabilities was $1 million for both the three months ended September听30, 2024 and 2023, and $4 million for both the nine months ended September听30, 2024 and 2023. Estimated future income from amortization is $1 million for the remainder of 2024 and $5 million annually for the years 2025 through 2029.