Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.8.0.1
PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 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 September 30, 2017
 
 
 
(Dollars in thousands)
 
Land
 
$
32,402
 
$
33,008
 
Buildings
 
 
29,070
 
 
29,018
 
Office furnishings and equipment
 
 
37,386
 
 
37,135
 
Office furnishings and equipment under capital lease obligations
 
 
228
 
 
244
 
Antennae, towers and transmitting equipment
 
 
84,144
 
 
85,450
 
Antennae, towers and transmitting equipment under capital lease obligations
 
 
795
 
 
795
 
Studio, production and mobile equipment
 
 
28,668
 
 
29,322
 
Computer software and website development costs
 
 
20,042
 
 
22,756
 
Record and tape libraries
 
 
27
 
 
27
 
Automobiles
 
 
1,373
 
 
1,342
 
Leasehold improvements
 
 
14,696
 
 
18,626
 
Construction-in-progress
 
 
9,983
 
 
6,328
 
 
 
$
258,814
 
$
264,051
 
Less accumulated depreciation
 
 
(156,024)
 
 
(161,848)
 
 
 
$
102,790
 
$
102,203
 
 
Depreciation expense was approximately $3.1 million and $3.0 million, for the three month periods ended September 30, 2017 and 2016, respectively, and $9.2 million and $9.0 million for the nine month periods ended September 30, 2017 and 2016, respectively. Included in this amount is $10,000 and $30,000 for the three and nine month periods ended September 30, 2017 and $11,000 and $32,000 for the three and nine month periods ended September 30, 2016, on assets acquired under capital lease obligations. Accumulated depreciation of assets acquired under capital leases was $176,000 and $146,000 at September 30, 2017 and December 31, 2016, respectively.