Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment
3 Months Ended
Mar. 31, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment


We account for property and equipment in accordance with FASB ASC Topic 360-10, Property, Plant and Equipment.

The following is a summary of the categories of our property and equipment:


     As of December 31, 2018      As of March 31, 2019  
     (Dollars in thousands)  


   $ 31,822      $ 31,830  


     30,104        30,121  

Office furnishings and equipment

     36,756        37,019  

Antennae, towers and transmitting equipment

     85,998        85,827  

Studio, production and mobile equipment

     29,040        29,261  

Computer software and website development costs

     27,603        27,845  

Record and tape libraries

     17        17  


     1,570        1,570  

Leasehold improvements

     19,357        19,359  


     4,833        5,752  






   $ 267,100      $ 268,601  

Less accumulated depreciation

     (170,756      (173,055






   $ 96,344      $ 95,546  







Depreciation expense was approximately $2.9 million and $3.0 million for each of the three month periods ended March 31, 2019 and 2018, respectively.

We periodically review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. Our review requires us to estimate the fair value of assets when events or circumstances indicate that they may be impaired. The fair value measurements for our long-lived assets use significant observable inputs that reflect our own assumptions about the estimates that market participants would use in measuring fair value including assumptions about risk. If actual future results are less favorable than the assumptions and estimates we used, we are subject to future impairment charges, the amount of which may be material. There were no indications of impairment during the period ended March 31, 2019.