Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.22.4
Property and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment
NOTE 6. 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,
  
     2021     
2022
  
    
(Dollars in thousands)
  
Buildings
    $ 28,593  
  
$
28,523
 
Office furnishings and equipment
      36,598  
  
 
37,162
 
Antennae, towers and transmitting equipment
      77,813  
  
 
76,950
 
Studio, production, and mobile equipment
      29,498  
  
 
30,267
 
Computer software and website development costs
      38,271  
  
 
42,304
 
Automobiles
      1,515  
  
 
1,633
 
Leasehold improvements
      18,104  
  
 
19,131
 
    
 
 
  
  
 
 
  
     $ 230,392  
  
$
235,970
 
 
 
 
  
As of December 31,
 
 
  
2021
 
  
2022
 
 
  
(Dollars in thousands)
 
Less accumulated depreciation
   
$
 (186,053 )    
$
(191,638
) 
    
 
 
     
 
 
  
       44,339     
$
44,332
 
Land
    $ 26,896     
 
27,070
 
Construction-in-progress
      8,104     
 
9,894
 
    
 
 
     
 
 
  
     $ 79,339     
$
81,296
 
    
 
 
     
 
 
  
Depreciation expense was
approximately
$11.3 million and $10.9 million for the years ended December 31, 2022, and 2021, 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 period ended December 31, 2022.