Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.7.0.1
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2017
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
NOTE 9. PROPERTY AND EQUIPMENT
 
The following is a summary of the categories of our property and equipment:
 
 
 
As of December 31, 2016
 
As of March 31, 2017
 
 
 
(Dollars in thousands)
 
Land
 
$
32,402
 
$
32,405
 
Buildings
 
 
29,070
 
 
28,865
 
Office furnishings and equipment
 
 
37,386
 
 
38,471
 
Office furnishings and equipment under capital lease obligations
 
 
228
 
 
228
 
Antennae, towers and transmitting equipment
 
 
84,144
 
 
84,279
 
Antennae, towers and transmitting equipment under capital lease obligations
 
 
795
 
 
795
 
Studio, production and mobile equipment
 
 
28,668
 
 
29,917
 
Computer software and website development costs
 
 
20,042
 
 
21,359
 
Record and tape libraries
 
 
27
 
 
27
 
Automobiles
 
 
1,373
 
 
1,375
 
Leasehold improvements
 
 
14,696
 
 
18,419
 
Construction-in-progress
 
 
9,983
 
 
5,333
 
 
 
$
258,814
 
$
261,473
 
Less accumulated depreciation
 
 
(156,024)
 
 
(158,915)
 
 
 
$
102,790
 
$
102,558
 
 
Depreciation expense was approximately $3.0 million, for each of the three month periods ending March 31, 2017 and 2016, respectively, which includes depreciation of $13,000 for each of the periods on a radio station tower valued at $0.8 million under a capital lease obligation. Accumulated depreciation associated with the capital lease was $530,000 and $517,000 at March 31, 2017 and December 31, 2016, respectively.