v3.25.4
INTANGIBLE ASSETS AND GOODWILL (Tables)
 12 Months Ended
Dec. 31, 2025
Intangible Assets [Abstract]  
Disclosure of estimated useful lives of intangible assets
Intangible assetEstimated useful life
Customer relationships
3 to 20 years
Ticket holder and sponsor relationships
25 to 30 years
Brand names
3 to 10 years
Other intangible assets
15 to 20 years
Disclosure of reconciliation of changes in intangible assets and goodwill
The tables below summarize our intangible assets as at December 31, 2025 and 2024.
Indefinite-lifeFinite-life
(In millions of dollars)
Spectrum
licences
Franchise rights
Broadcast
licences
Brand names and trademarks
Customer
relationships
Ticket holder and sponsor relationships
Acquired program rights
Brand names
Other
Total intangible assetsGoodwillTotal intangible assets and goodwill
Cost
As at January 1, 202512,197 — 325 420 7,612 — 200 97 52 20,903 16,501 37,404 
Accumulated impairment losses— — (109)(14)— — (5)— — (128)(221)(349)
Cost, net of impairment losses12,197 — 216 406 7,612 — 195 97 52 20,775 16,280 37,055 
Additions— — — — — — 93 — 12 105 — 105 
  Acquisitions from business combinations (note 3)
— 9,830 — 1,364 — 363 — — 21 11,578 3,812 15,390 
Disposals and other 1
— — — — (104)— (62)— — (166)(60)(226)
As at December 31, 202512,197 9,830 216 1,770 7,508 363 226 97 85 32,292 20,032 52,324 
Accumulated amortization
As at January 1, 2025— — — 270 2,538 — 60 44 5 2,917 — 2,917 
Amortization 2
— — — — 518 7 86 27 5 643 — 643 
Disposals and other 1
— — — — (106)— (60)— — (166)— (166)
As at December 31, 2025— — — 270 2,950 7 86 71 10 3,394 — 3,394 
Net carrying amount
As at January 1, 202512,197 — 216 136 5,074 — 135 53 47 17,858 16,280 34,138 
As at December 31, 202512,197 9,830 216 1,500 4,558 356 140 26 75 28,898 20,032 48,930 
1    Includes disposals, impairments, reclassifications, and other adjustments.
2    Of the $643 million of total amortization, $86 million related to acquired program rights is included in other external purchases in "operating costs" (see note 7), and $557 million in "depreciation and amortization" on the Consolidated Statements of Income.

Indefinite-lifeFinite-life
(In millions of dollars)Spectrum licencesBroadcast licencesBrand namesCustomer relationshipsAcquired program rights
Brand names
Other
Total intangible assetsGoodwillTotal intangible assets and goodwill
Cost
As at January 1, 202411,717 330 420 7,604 200 75 52 20,398 16,501 36,899 
Accumulated impairment losses— (99)(14)— (5)— — (118)(221)(339)
Cost, net of impairment losses11,717 231 406 7,604 195 75 52 20,280 16,280 36,560 
Additions480 — — 8 72 22 — 582 — 582 
Disposals and other 1
— (15)— — (72)— — (87)— (87)
As at December 31, 202412,197 216 406 7,612 195 97 52 20,775 16,280 37,055 
Accumulated amortization
As at January 1, 2024— — 270 2,025 68 19 2 2,384 — 2,384 
Amortization 2
— — — 513 62 25 3 603 — 603 
Disposals and other 1
— — — — (70)— — (70)— (70)
As at December 31, 2024— — 270 2,538 60 44 5 2,917 — 2,917 
Net carrying amount
As at January 1, 202411,717 231 136 5,579 127 56 50 17,896 16,280 34,176 
As at December 31, 202412,197 216 136 5,074 135 53 47 17,858 16,280 34,138 
1    Includes disposals, impairments, reclassifications, and other adjustments.
2    Of the $603 million of total amortization, $62 million related to acquired program rights is included in other external purchases in "operating costs" (see note 7), and $541 million in "depreciation and amortization" on the Consolidated Statements of Income.
Schedule of cash-generating units
Below is an overview of the methods and key assumptions we used in 2025, as of October 1, to determine recoverable amounts for CGUs, or groups of CGUs, with indefinite-life intangible assets or goodwill that we consider significant.
(In millions of dollars, except periods used and rates)   
 Carrying value of goodwillCarrying value of indefinite-life intangible assetsRecoverable amount methodPeriod of projected cash flows (years)Terminal growth rates (%)Pre-tax discount rates (%)
   
Wireless1,634 12,331 Value in use52.0 7.9 
Cable
13,533 — Value in use51.0 8.0 
Media group 1
4,781 11,410 
Fair value less costs of disposal
52.0 10.9 
Leafs— 4,160 Fair value less costs of disposaln/an/an/a
Raptors— 6,180 Fair value less costs of disposaln/an/an/a
TFC— 854 Fair value less costs of disposaln/an/an/a
1    The carrying value of indefinite-life intangible assets for Media includes the carrying values of the Leafs, Raptors, and TFC indefinite-life intangible assets.