Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Summary of Depreciation Using the Straight-line Method over Estimated Useful Lives Depreciation is computed using the straight-line method over estimated useful lives as follows:
Category
 
Estimated Life
Buildings   40 years
Office furnishings and equipment   5
 
-
10
 years
Antennae, towers and transmitting equipment   10
-
20
 years
Studio, production and mobile equipment   5
-
7
 years
Computer software and website development costs   3
 years
Record and tape libraries   3
 years
Automobiles   5
 years
Leasehold improvements   Lesser of the useful life or remaining lease term
Summary of Intangibles are Amortized Using the Straight-line Method over Estimated Useful Lives These intangibles are amortized using the straight-line method over the fol
l
owing estimated useful lives:
Category
  
Estimated Life
Customer lists and contracts    Lesser of 5 years or the life of contract
Domain and brand names    5 -7
 
y
ears
Favorable and assigned leases    Lease Term
Subscriber base and lists    3
-
7 years
Author relationships    1
-
7 years
Non-compete
agreements
   1 to 5 years
Schedule of Partial Self Insurance Reserve
The following table presents the changes in our partial self-insurance reserves.
 
    
Year Ended December 31,
 
     2018     
2019
 
    
(Dollars in thousands)
 
Balance, beginning of period
   $ 747     
$
828
 
Self-funded costs
     9,336     
 
8,087
 
Claims paid
     (9,255   
 
(8,275
  
 
 
    
 
 
 
Ending period balance
   $ 828     
$
640
 
  
 
 
    
 
 
 
Shares Used to Compute Basic and Diluted Net Earning Per Share
The following table sets forth the shares used to compute basic and diluted net earnings per share for the periods indicated:
 
    
Year Ended December 31,
 
     2018     
2019
 
Weighted average shares
     26,179,702     
 
26,502,934
 
Effect of dilutive securities - stock options
     —       
 
0
 
  
 
 
    
 
 
 
Weighted average shares adjusted for dilutive securities
     26,179,702     
 
26,502,934