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

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

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
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 following 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 years
Favorable and assigned leases		Lease Term
Subscriber base and lists		3 – 7 years
Author relationships		1 – 7 years
Non-compete agreements		Life of the contract

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,
	2021		2022
Weighted average shares		26,892,540		27,206,434
Effect of dilutive securities–- stock options		404,078		—

Weighted average shares adjusted for dilutive securities		27,296,618		27,206,434