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

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Depreciation is computed using the straight-line method over estimated useful lives as follows:


Category		Estimated Life
Buildings		40 years
Office furnishings and equipment		5 - 10 years
Antennae, towers and transmitting equipment		10 - 20 years
Studio, production and mobile equipment		5 - 7 years
Computer software and website development costs		3 years
Record and tape libraries		3 years
Automobiles		5 years
Leasehold improvements		Lesser of the useful life or remaining lease term

These intangibles are amortized using the straight-line method over the fol

owing estimated useful lives:


Category		Estimated Life
Customer lists and contracts		Lesser of 5 years or the life of contract
Domain and brand names		5 -7 y ears
Favorable and assigned leases		Lease Term
Subscriber base and lists		3 - 7 years
Author relationships		1 - 7 years
Non-compete agreements		1 to 5 years

The following table presents the changes in our partial self-insurance reserves.

The following table sets forth the shares used to compute basic and diluted net earnings per share for the periods indicated:


	Year Ended December 31,
	2018		2019
Weighted average shares		26,179,702		26,502,934
Effect of dilutive securities - stock options		—		0

Weighted average shares adjusted for dilutive securities		26,179,702		26,502,934