
	Recorded Music		Music Publishing		Total
	(in millions)
Balances at September 30, 2022	$	1,456	$	464	$	1,920
Acquisitions	51		—		51
Other adjustments	22		—		22
Balances at September 30, 2023	$	1,529	$	464	$	1,993
Acquisitions	5		—		5
Other adjustments	23		—		23
Balances at September 30, 2024	$	1,557	$	464	$	2,021

The increase in goodwill during the fiscal year ended September 30, 2024 primarily relates to an acquisition entered into during the fiscal year. The increase in goodwill during the fiscal year ended September 30, 2023 primarily relates to the acquisition of TenThousand Projects as described in Note 5. The other adjustments during both the fiscal years ended September 30, 2024 and September 30, 2023 primarily represent foreign currency movements.

The Company performs its annual goodwill impairment test in accordance with ASC 350 during the fourth quarter of each fiscal year as of July 1. The Company may conduct an earlier review if events or circumstances occur that would suggest the carrying value of the Company’s goodwill may not be recoverable. The performance of the annual fiscal 2024 impairment analysis did not result in an impairment of the Company’s goodwill.


	Weighted-Average Useful Life	September 30, 2024		September 30, 2023
		(in millions)
Intangible assets subject to amortization:
Recorded music catalog	12 years	$	1,616	$	1,507
Music publishing copyrights	24 years	2,227		2,026
Artist and songwriter contracts	13 years	1,125		1,091
Trademarks	18 years	69		111
Other intangible assets	7 years	69		104
Total gross intangible assets subject to amortization		5,106		4,839
Accumulated amortization		(2,747)		(2,486)
Total net intangible assets subject to amortization		2,359		2,353
Intangible assets not subject to amortization:
Trademarks and tradenames	Indefinite	152		149
Total net intangible assets		$	2,511	$	2,502

The increase in intangible assets during the fiscal year ended September 30, 2024 primarily relates to various music publishing copyright acquisitions, as well as foreign currency movements.

The Company performs its annual indefinite-lived intangible assets impairment test in accordance with ASC 350 during the fourth quarter of each fiscal year as of July 1. The Company may conduct an earlier review if events or circumstances occur that would suggest the carrying value of the Company’s indefinite-lived intangible assets may not be recoverable. The performance of the annual fiscal 2024 impairment analysis did not result in an impairment of the Company’s indefinite-lived intangible assets.

Based on the amount of intangible assets subject to amortization at September 30, 2024, the expected amortization for each of the next five fiscal years and thereafter are as follows:


Fiscal Year Ended September 30,	Amortization Expense
	(in millions)
2025	$	246
2026	230
2027	200
2028	170
2029	165
Thereafter	1,348
Total	$	2,359