Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.7.0.1
PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 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
June 30, 2017
 
 
 
(Dollars in thousands)
 
Land
 
$
32,402
 
$
32,310
 
Buildings
 
 
29,070
 
 
28,894
 
Office furnishings and equipment
 
 
37,386
 
 
38,527
 
Office furnishings and equipment under capital lease obligations
 
 
228
 
 
244
 
Antennae, towers and transmitting equipment
 
 
84,144
 
 
84,694
 
Antennae, towers and transmitting equipment under capital lease obligations
 
 
795
 
 
795
 
Studio, production and mobile equipment
 
 
28,668
 
 
29,634
 
Computer software and website development costs
 
 
20,042
 
 
22,475
 
Record and tape libraries
 
 
27
 
 
27
 
Automobiles
 
 
1,373
 
 
1,323
 
Leasehold improvements
 
 
14,696
 
 
18,437
 
Construction-in-progress
 
 
9,983
 
 
5,126
 
 
 
$
258,814
 
$
262,486
 
Less accumulated depreciation
 
 
(156,024)
 
 
(160,869)
 
 
 
$
102,790
 
$
101,617
 
 
Depreciation expense was approximately $3.1 million and $3.0 million, for each of the three month periods ended June 30, 2017 and 2016, respectively, and $6.1 million and $6.0 million for the six month periods ended June 30, 2017 and 2016, respectively, which includes depreciation of $13,000 for each of the three month periods and $26,000 for each of the six month periods on a radio station tower valued at $0.8 million under a capital lease obligation. Accumulated depreciation associated with the capital lease was $543,000 and $517,000 at June 30, 2017 and December 31, 2016, respectively.