Property and Equipment

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

NOTE 7. PROPERTY AND EQUIPMENT

We account for property and equipment in accordance with FASB ASC Topic 360-10, Property, Plant and Equipment.

The following is a summary of the categories of our property and equipment:

	As of December 31, 2019			As of June 30, 2020
	(Dollars in thousands)
Land	$	30,936		$	30,951
Buildings		30,283			30,283
Office furnishings and equipment		36,855			36,885
Antennae, towers and transmitting equipment		78,312			78,603
Studio, production and mobile equipment		30,164			29,465
Computer software and website development costs		29,595			31,828
Record and tape libraries		17			17
Automobiles		1,509			1,515
Leasehold improvements		18,834			18,960
Construction-in-progress		4,290			2,562
	$	260,795		$	261,069
Less accumulated depreciation		(173,122	)		(176,689	)
	$	87,673		$	84,380

Depreciation expense was approximately $2.7 million and $2.9 million for the three-month periods ended June 30, 2020 and 2019, respectively and $5.4 million and $5.8 million for the six-month periods ended June 30, 2020 and 2019, respectively. We periodically review long-lived assets for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. This review requires us to estimate the fair value of the assets using significant unobservable inputs that reflect our own assumptions about the estimates that market participants would use in measuring fair value, including assumptions about risk. If actual future results are less favorable than the assumptions and estimates we used, we are subject to future impairment charges, the amount of which may be material. There were no indications of impairment during the three- and six-month period ended June 30, 2020.