Salem Media Group, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 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:

	December 31, 2015		September 30, 2016
	(Dollars in thousands)
Land	$	31,565	$	31,180
Buildings		25,448		25,362
Office furnishings and equipment		38,812		36,847
Office furnishings and equipment under capital lease obligations		228		228
Antennae, towers and transmitting equipment		83,501		83,256
Antennae, towers and transmitting equipment under capital lease obligations		795		795
Studio, production and mobile equipment		30,598		28,245
Computer software and website development costs		28,134		18,719
Record and tape libraries		55		27
Automobiles		1,298		1,349
Leasehold improvements		20,799		20,059
Construction-in-progress		6,632		10,237
	$	267,865	$	256,304
Less accumulated depreciation		(162,382)		(152,982)
	$	105,483	$	103,322

Depreciation expense was approximately $3.1 million and $3.0 million for each of the three month periods ending September 30, 2015 and 2016, respectively, and $9.4 million and $9.0 million for the nine month period ending September 30, 2015 and 2016, respectively. Included in these amounts is depreciation of $24,000 for each of the three month periods and $72,000 for each of the nine month periods related to assets held under capital lease obligations. Accumulated depreciation associated with assets under capital lease obligations was $639,000 and $566,000 at September 30, 2016 and December 31, 2015, respectively.