Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.4.0.3
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2016
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
NOTE 7. PROPERTY AND EQUIPMENT
 
The following is a summary of the categories of our property and equipment:
 
 
 
As of December 31, 2015
 
As of March 31, 2016
 
 
 
(Dollars in thousands)
 
Land
 
$
31,565
 
$
31,575
 
Buildings
 
 
25,448
 
 
25,431
 
Office furnishings and equipment
 
 
39,040
 
 
38,117
 
Antennae, towers and transmitting equipment
 
 
84,296
 
 
84,135
 
Studio, production and mobile equipment
 
 
30,598
 
 
29,851
 
Computer software and website development costs
 
 
28,134
 
 
27,842
 
Record and tape libraries
 
 
55
 
 
54
 
Automobiles
 
 
1,298
 
 
1,306
 
Leasehold improvements
 
 
20,799
 
 
19,883
 
Construction-in-progress
 
 
6,632
 
 
7,998
 
 
 
$
267,865
 
$
266,192
 
Less accumulated depreciation
 
 
(162,382)
 
 
(160,963)
 
 
 
$
105,483
 
$
105,229
 
  
Depreciation expense was approximately $3.2 million and $3.0 million, for the three month period ending March 31, 2015 and 2016, respectively, which includes depreciation of $13,000 for each of periods on a radio station tower valued at $0.8 million under a capital lease obligation. Accumulated depreciation associated with the capital lease was $477,000 and $464,000 at March 31, 2016 and December 31, 2015, respectively.