(5)   Intangible Assets

Goodwill

Changes in the carrying amount of goodwill are as follows:

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Intangible Assets Subject to Amortization

Amortization expense for intangible assets with finite useful lives was $78 million for both of the three months ended June 30, 2023 and 2022, and $152 million and $160 million for the six months ended June 30, 2023 and 2022, respectively. Based on its amortizable intangible assets as of June 30, 2023, Qurate Retail expects that amortization expense will be as follows for the next five years (amounts in millions):

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The Company’s share price has been challenged as a result of current business trends and global economic conditions. The Company will continue to monitor QVC’s 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) are 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 material carrying value adjustments are required.