Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.5.0.2
PROPERTY AND EQUIPMENT
6 Months Ended
Jun. 30, 2016
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
NOTE 7. PROPERTY AND EQUIPMENT
 
The following is a summary of the categories of our property and equipment:
 
 
 
December 31, 2015
 
June 30, 2016
 
 
 
(Dollars in thousands)
 
Land
 
$
31,565
 
$
31,180
 
Buildings
 
 
25,448
 
 
25,362
 
Office furnishings and equipment
 
 
38,812
 
 
36,798
 
Office furnishings and equipment under capital lease obligations
 
 
228
 
 
228
 
Antennae, towers and transmitting equipment
 
 
83,501
 
 
83,120
 
Antennae, towers and transmitting equipment under capital lease obligations
 
 
795
 
 
795
 
Studio, production and mobile equipment
 
 
30,598
 
 
28,277
 
Computer software and website development costs
 
 
28,134
 
 
28,423
 
Record and tape libraries
 
 
55
 
 
28
 
Automobiles
 
 
1,298
 
 
1,326
 
Leasehold improvements
 
 
20,799
 
 
19,713
 
Construction-in-progress
 
 
6,632
 
 
9,913
 
 
 
$
267,865
 
$
265,163
 
Less accumulated depreciation
 
 
(162,382)
 
 
(160,604)
 
 
 
$
105,483
 
$
104,559
 
 
Depreciation expense was approximately $3.0 million for each of the three month periods ending June 30, 2015 and 2016, and $6.2 million and $6.0 million for the six month period ending June 30, 2015 and 2016, respectively. Included in these amounts is depreciation of $24,000 for each of the three month periods and $48,000 for each of the six month periods related to assets held under capital lease obligations. Accumulated depreciation associated with assets under capital lease obligations was $615,000 and $566,000 at June 30, 2016 and December 31, 2015, respectively.