Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT

v2.4.0.6
PROPERTY, PLANT AND EQUIPMENT
12 Months Ended
Dec. 31, 2011
PROPERTY, PLANT AND EQUIPMENT

NOTE 4. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following:

 

     As of December 31,  
     2010     2011  
     (Dollars in thousands)  

Land

   $ 36,858      $ 37,107   

Buildings

     24,772        24,690   

Office furnishings and equipment

     36,950        37,523   

Antennae, towers and transmitting equipment

     74,518        73,517   

Studio and production equipment

     29,120        29,110   

Computer software and website development costs

     11,794        14,817   

Record and tape libraries

     65        65   

Automobiles

     1,004        1,031   

Leasehold improvements

     15,658        16,558   

Construction-in-progress

     2,323        2,512   
  

 

 

   

 

 

 
   $ 233,062      $ 236,930   

Less accumulated depreciation

     (117,211     (125,708
  

 

 

   

 

 

 
   $ 115,851      $ 111,222   
  

 

 

   

 

 

 

Depreciation expense was approximately $13.4 million, $12.6 million and $12.5 million for the years ended December 31, 2009, 2010, and 2011, respectively, which includes depreciation of $53,000 for each of the years ended December 31, 2009, 2010 and 2011 on a radio station tower that was valued at $0.8 million under a capital lease obligation. Accumulated depreciation associated with the capital lease was $132,000, $185,000 and $238,000 at December 31, 2009, 2010 and 2011, respectively.