| 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:
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As of December 31, 2019 |
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As of September 30, 2020 |
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(Dollars in thousands) |
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$ |
30,936 |
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$ |
30,253 |
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30,283 |
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28,946 |
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Office furnishings and equipment |
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36,855 |
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36,610 |
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Antennae, towers and transmitting equipment |
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78,312 |
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77,874 |
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Studio, production and mobile equipment |
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30,164 |
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28,996 |
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Computer software and website development costs |
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29,595 |
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32,637 |
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Record and tape libraries |
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17 |
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17 |
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1,509 |
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1,514 |
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18,834 |
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18,207 |
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4,290 |
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3,401 |
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$ |
260,795 |
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$ |
258,455 |
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Less accumulated depreciation |
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(173,122 |
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(177,732 |
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$ |
87,673 |
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$ |
80,723 |
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Depreciation expense was approximately $2.7 million and $2.7 million for the three months ended September 30, 2020 and 2019, respectively and $8.1 million and $8.5 million for the nine months ended September 30, 2020 and 2019, respectively. 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 three and nine-month s ended September 30, 2020. |