Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.8.0.1
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
NOTE 9. PROPERTY AND EQUIPMENT
 
The following is a summary of the categories of our property and equipment:
 
 
 
As of December 31, 2017
 
As of March 31, 2018
 
 
 
(Dollars in thousands)
 
Land
 
$
32,320
 
$
32,320
 
Buildings
 
 
28,962
 
 
28,968
 
Office furnishings and equipment
 
 
37,583
 
 
38,443
 
Office furnishings and equipment under capital lease obligations
 
 
244
 
 
244
 
Antennae, towers and transmitting equipment
 
 
85,632
 
 
85,549
 
Antennae, towers and transmitting equipment under capital lease obligations
 
 
795
 
 
795
 
Studio, production and mobile equipment
 
 
29,697
 
 
29,737
 
Computer software and website development costs
 
 
24,477
 
 
24,836
 
Record and tape libraries
 
 
27
 
 
27
 
Automobiles
 
 
1,385
 
 
1,498
 
Leasehold improvements
 
 
19,003
 
 
19,004
 
Construction-in-progress
 
 
4,075
 
 
4,538
 
 
 
$
264,200
 
$
265,959
 
Less accumulated depreciation
 
 
(164,720)
 
 
(167,306)
 
 
 
$
99,480
 
$
98,653
 
 
Depreciation expense was approximately $3.0 million for each of the three month periods ended March 31, 2018 and 2017. Included in this amount is $23,000 for each of the three month periods ended March 31, 2018 and 2017, on assets acquired under capital lease obligations. Accumulated depreciation associated with assets acquired under capital lease obligations was $778,000 and $755,000 at March 31, 2018 and December 31, 2017, respectively.