Salem Media Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2011

NOTE 4. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following:


	As of December 31,
	2010			2011
	(Dollars in thousands)
Land	$	36,858		$	37,107
Buildings		24,772			24,690
Office furnishings and equipment		36,950			37,523
Antennae, towers and transmitting equipment		74,518			73,517
Studio and production equipment		29,120			29,110
Computer software and website development costs		11,794			14,817
Record and tape libraries		65			65
Automobiles		1,004			1,031
Leasehold improvements		15,658			16,558
Construction-in-progress		2,323			2,512

	$	233,062		$	236,930
Less accumulated depreciation		(117,211	)		(125,708	)

	$	115,851		$	111,222

Depreciation expense was approximately $13.4 million, $12.6 million and $12.5 million for the years ended December 31, 2009, 2010, and 2011, respectively, which includes depreciation of $53,000 for each of the years ended December 31, 2009, 2010 and 2011 on a radio station tower that was valued at $0.8 million under a capital lease obligation. Accumulated depreciation associated with the capital lease was $132,000, $185,000 and $238,000 at December 31, 2009, 2010 and 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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