Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.20.1
Property and Equipment
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment
NOTE 7. PROPERTY AND EQUIPMENT
We account for property and equipment in accordance with FASB ASC Topic
360-10,
“
Property, Plant and Equipment
.”
The following is a summary of the categories of our property and equipment:
 
    
As of December 31,
  
     2018     
2019
  
    
(Dollars in thousands)
  
Land
    $ 31,822     
$
30,936
 
Buildings
      30,104     
 
30,283
 
Office furnishings and equipment
      36,756     
 
36,855
 
Antennae, towers and transmitting equipment
      85,998     
 
78,312
 
Studio, production and mobile equipment
      29,040     
 
30,164
 
Computer software and website development costs
      27,603     
 
29,595
 
Record and tape libraries
      17     
 
17
 
Automobiles
      1,570     
 
1,509
 
Leasehold improvements
      19,357     
 
18,834
 
Construction-in-progress
      4,833     
 
4,290
 
  
 
 
     
 
 
 
   $ 267,100     
$
260,795
 
Less accumulated depreciation
      (170,756 )    
 
(173,122
) 
  
 
 
     
 
 
 
   $ 96,344     
$
87,673
 
  
 
 
     
 
 
  
 
Depreciation expense was approximately $11.3 million and $12.0 million for the years ended December 31, 2019 and 2018. We periodically review long-lived assets for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. This review requires us to estimate the fair value of the assets using significant unobservable inputs that reflect our own assumptions about the estimates that market participants would use in measuring fair value, including assumptions about risk. If actual future results are less favorable than the assumptions and estimates we used, we are subject to future impairment charges, the amount of which may be material. There were no indications of impairment during the period ended December 31, 2019.