Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

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Property and Equipment
 9 Months Ended
Sep. 30, 2018
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:

 

     December 31, 2017      September 30, 2018  
     (Dollars in thousands)  

Land

    $ 32,320      $ 31,686  

Buildings

      28,962        28,942  

Office furnishings and equipment

      37,583        36,079  

Office furnishings and equipment under capital lease obligations

      244        207  

Antennae, towers and transmitting equipment

      85,632        85,330  

Antennae, towers and transmitting equipment under capital lease obligations

      795        —    

Studio, production and mobile equipment

      29,697        28,959  

Computer software and website development costs

      24,477        26,308  

Record and tape libraries

      27        21  

Automobiles

      1,385        1,572  

Leasehold improvements

      19,003        19,383  

Construction-in-progress

      4,075        6,159  
  

 

 

     

 

 

  
   $ 264,200      $ 264,646  

Less accumulated depreciation

      (164,720 )       (167,934 ) 
  

 

 

     

 

 

  
   $ 99,480      $ 96,712  
  

 

 

     

 

 

  

Depreciation expense was approximately $3.0 million and $3.1 million for each of the three month periods ended September 30, 2018 and 2017, respectively, and $9.1 million and $9.2 million for the nine month periods ended September 30, 2018 and 2017, respectively. Included in this amount is $5,000 and $48,000 for the three and nine months ended September 30, 2018 and $24,000 and $70,000 for the three and nine month periods ended September 30, 2017, on assets acquired under capital lease obligations. Accumulated depreciation associated with assets acquired under capital lease obligations was $0.2 million and $0.8 million at September 30, 2018 and December 31, 2017, respectively.