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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2020
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

3. PROPERTY AND EQUIPMENT:

Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the related estimated useful lives. Property and equipment consists of the following:

 

 

 

 

 

 

 

 

 

 

 

    

As of December 31, 

    

Estimated

 

 

2020

    

2019

 

Useful Lives

 

 

(In thousands)

 

 

Land and improvements

 

$

2,372

 

$

4,652

 

—

Buildings

 

 

2,654

 

 

2,756

 

31 years

Transmitters and towers

 

 

39,277

 

 

40,705

 

7-15 years

Equipment

 

 

59,537

 

 

60,391

 

3-7 years

Furniture and fixtures

 

 

9,019

 

 

9,322

 

6 years

Software and web development

 

 

29,741

 

 

28,789

 

3 years

Leasehold improvements

 

 

24,449

 

 

24,957

 

Lease Term

Construction-in-progress

 

 

372

 

 

226

 

—

 

 

 

167,421

 

 

171,798

 

 

Less: Accumulated depreciation and amortization

 

 

(148,229)

 

 

(147,405)

 

  

Property and equipment, net

 

$

19,192

 

$

24,393

 

  

 

 Repairs and maintenance costs are expensed as incurred. Property and equipment assets identified as assets held for sale are excluded from the table above.