Salem Media Group, Inc. Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021


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

These intangibles are amortized using the straight-line method over the

following

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 years
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

The following table presents the changes in our partial self-insurance reserves:

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,
	2020		2021


Weighted average shares		26,683,363		26,892,540
Effect of dilutive securities — stock options		—		404,078

Weighted average shares adjusted for dilutive securities		26,683,363		27,296,618