We account for goodwill in accordance with FASB ASC Topic 350 “ Intangibles—Goodwill and Other .” We do not amortize goodwill, but rather test for impairment annually or more frequently if events or circumstances indicate that an asset may be impaired. We perform our annual impairment testing during the fourth quarter of each year, which coincides with our budget and planning process for the upcoming year. There were no indications of impairment during the three- and six-month period ended June 30, 2021. The following table presents the changes in goodwill including business acquisitions and dispositions as discussed in Note 3 of our Condensed Consolidated Financial Statements.
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Twelve Months Ended
December 31, 2020 |
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Six Months Ended
June 30, 2021 |
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Balance, beginning of period before cumulative loss on impairment, |
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$ |
28,454 |
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Accumulated loss on impairment |
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(4,456 |
) |
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Balance, beginning of period after cumulative loss on impairment |
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23,998 |
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Acquisitions of radio stations |
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66 |
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Acquisitions of digital media entities |
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— |
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Impairments based on the estimated fair value goodwill |
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(307 |
) |
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$ |
23,757 |
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Balance, end of period before cumulative loss on impairment |
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28,520 |
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Accumulated loss on impairment |
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(4,763 |
) |
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$ |
23,757 |
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