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Summarized Financial Information of Subsidiaries (Subsidiary) (Tables) - LAMAR MEDIA CORP. AND SUBSIDIARIES
12 Months Ended
Dec. 31, 2023
Condensed Consolidating Balance Sheet (Subsidiary)
Condensed Consolidating Balance Sheet as of December 31, 2023
Lamar Media Corp.Guarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsLamar Media Consolidated
ASSETS
Total current assets$33,875 $28,905 $309,906 $— $372,686 
Net property, plant and equipment— 1,548,946 17,524 — 1,566,470 
Operating lease right of use assets— 1,281,503 33,930 — 1,315,433 
Intangibles and goodwill, net— 3,179,107 16,979 — 3,196,086 
Other assets4,596,516 349,680 249,662 (5,099,653)96,205 
Total assets$4,630,391 $6,388,141 $628,001 $(5,099,653)$6,546,880 
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Current maturities of long-term debt$— $398 $249,620 $— $250,018 
Current operating lease liabilities— 202,992 7,576 — 210,568 
Other current liabilities45,225 184,018 14,337 — 243,580 
Total current liabilities45,225 387,408 271,533 — 704,166 
Long-term debt3,089,874 1,235 — — 3,091,109 
Operating lease liabilities— 1,050,330 24,955 — 1,075,285 
Other noncurrent liabilities285,929 424,532 343,253 (587,171)466,543 
Total liabilities3,421,028 1,863,505 639,741 (587,171)5,337,103 
Stockholder's equity1,209,363 4,524,636 (11,740)(4,512,482)1,209,777 
Total liabilities and stockholder's equity$4,630,391 $6,388,141 $628,001 $(5,099,653)$6,546,880 
Condensed Consolidating Balance Sheet as of December 31, 2022
Lamar Media Corp.Guarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsLamar Media Consolidated
ASSETS
Total current assets$39,829 $36,667 $287,556 $— $364,052 
Net property, plant and equipment— 1,483,395 16,304 — 1,499,699 
Operating lease right of use assets— 1,252,414 19,217 — 1,271,631 
Intangibles and goodwill, net— 3,214,284 16,991 — 3,231,275 
Other assets4,514,221 325,052 250,056 (4,997,514)91,815 
Total assets$4,554,050 $6,311,812 $590,124 $(4,997,514)$6,458,472 
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Current maturities of long-term debt$— $378 $249,407 $— $249,785 
Current operating lease liabilities— 198,320 7,518 — 205,838 
Other current liabilities23,360 222,871 15,314 — 261,545 
Total current liabilities23,360 421,569 272,239 — 717,168 
Long-term debt3,061,385 1,635 — — 3,063,020 
Operating lease liabilities— 1,025,385 10,270 — 1,035,655 
Other noncurrent liabilities281,804 418,163 301,957 (546,796)455,128 
Total liabilities3,366,549 1,866,752 584,466 (546,796)5,270,971 
Stockholder's equity1,187,501 4,445,060 5,658 (4,450,718)1,187,501 
Total liabilities and stockholder's equity$4,554,050 $6,311,812 $590,124 $(4,997,514)$6,458,472 
Condensed Consolidating Statements of Income and Comprehensive Income (Subsidiary)
Condensed Consolidating Statements of Income and Comprehensive Income
for the Year Ended December 31, 2023

 Lamar Media Corp.Guarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsLamar Media Consolidated
Statement of Income
Net revenues$— $2,069,600 $44,068 $(2,681)$2,110,987 
Operating expenses (income)
Direct advertising expenses(1)
— 667,962 31,518 (2,681)696,799 
General and administrative expenses(1)
— 336,623 8,157 — 344,780 
Corporate expenses(1)
— 104,023 1,505 — 105,528 
Depreciation and amortization— 289,257 4,166 — 293,423 
Gain on disposition of assets— (5,476)— (5,474)
— 1,392,389 45,348 (2,681)1,435,056 
Operating income (loss)— 677,211 (1,280)— 675,931 
Loss on extinguishment of debt115 — — — 115 
Equity in (earnings) loss of subsidiaries(655,864)— — 655,864 — 
Interest expense (income), net159,489 (1,934)14,842 — 172,397 
Equity in earnings of investee— (3,696)— — (3,696)
Income (loss) before income tax expense496,260 682,841 (16,122)(655,864)507,115 
Income tax expense(2)
— 9,511 271 — 9,782 
Net income (loss)496,260 673,330 (16,393)(655,864)497,333 
Earnings attributable to non-controlling interest— 387 686 — 1,073 
Net income (loss) attributable to controlling interest$496,260 $672,943 $(17,079)$(655,864)$496,260 
Statement of Comprehensive Income
Net income (loss)$496,260 $673,330 $(16,393)$(655,864)$497,333 
Total other comprehensive income, net of tax— — 231 — 231 
Total comprehensive income (loss)496,260 673,330 (16,162)(655,864)497,564 
Earnings attributable to non-controlling interest— 387 686 — 1,073 
Comprehensive income (loss) attributable to controlling interest$496,260 $672,943 $(16,848)$(655,864)$496,491 
(1)Caption is exclusive of depreciation and amortization.
(2)The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.
Condensed Consolidating Statements of Income and Comprehensive Income
for the Year Ended December 31, 2022

Lamar Media Corp.Guarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsLamar Media Consolidated
Statement of Income
Net revenues$— $1,992,900 $41,789 $(2,549)$2,032,140 
Operating expenses (income)
Direct advertising expenses(1)
— 639,948 29,889 (2,549)667,288 
General and administrative expenses(1)
— 343,188 7,435 — 350,623 
Corporate expenses(1)
— 99,392 2,606 — 101,998 
Depreciation and amortization— 345,857 3,592 — 349,449 
Gain on disposition of assets— (3,235)(12,486)— (15,721)
— 1,425,150 31,036 (2,549)1,453,637 
Operating income— 567,750 10,753 — 578,503 
Equity in (earnings) loss of subsidiaries(561,545)— — 561,545 — 
Interest expense (income), net122,396 (531)4,352 — 126,217 
Equity in earnings of investee— (4,315)— — (4,315)
Income (loss) before income tax expense439,149 572,596 6,401 (561,545)456,601 
Income tax expense(2)
— 10,970 6,482 — 17,452 
Net income (loss)$439,149 $561,626 $(81)$(561,545)$439,149 
Statement of Comprehensive Income
Net income (loss)$439,149 $561,626 $(81)$(561,545)$439,149 
Total other comprehensive loss, net of tax— — (1,514)— (1,514)
Total comprehensive income (loss)$439,149 $561,626 $(1,595)$(561,545)$437,635 
(1)Caption is exclusive of depreciation and amortization.
(2)The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.
Condensed Consolidating Statements of Income and Comprehensive Income
for the Year Ended December 31, 2021

Lamar Media Corp.Guarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsLamar Media Consolidated
Statement of Income
Net revenues$— $1,752,106 $37,055 $(1,760)$1,787,401 
Operating expenses (income)
Direct advertising expenses(1)
— 552,953 25,314 (1,760)576,507 
General and administrative expenses(1)
— 322,278 4,358 — 326,636 
Corporate expenses(1)
— 91,479 1,595 — 93,074 
Depreciation and amortization— 267,141 4,153 — 271,294 
Gain on disposition of assets— (1,965)(150)— (2,115)
— 1,231,886 35,270 (1,760)1,265,396 
Operating income— 520,220 1,785 — 522,005 
Loss on extinguishment of debt21,604 — — — 21,604 
Equity in (earnings) loss of subsidiaries(515,288)— — 515,288 — 
Interest expense (income), net104,776 (44)889 — 105,621 
Equity in earnings of investee— (3,384)— — (3,384)
Income (loss) before income tax expense (benefit)388,908 523,648 896 (515,288)398,164 
Income tax expense (benefit)(2)
— 9,556 (300)— 9,256 
Net income (loss)$388,908 $514,092 $1,196 $(515,288)$388,908 
Statement of Comprehensive Income
Net income (loss)$388,908 $514,092 $1,196 $(515,288)$388,908 
Total other comprehensive loss, net of tax— — (79)— (79)
Total comprehensive income (loss)$388,908 $514,092 $1,117 $(515,288)$388,829 
(1)Caption is exclusive of depreciation and amortization.
(2)The income tax expense (benefit) reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.
Condensed Consolidating Statements of Cash Flows (Subsidiary)
Condensed Consolidating Statement of Cash Flows for the Year Ended December 31, 2022
Lamar Media Corp.Guarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsLamar Media Consolidated
Cash flows from operating activities:
Net cash provided by (used in) operating activities$586,773 $875,208 $(20,112)$(702,003)$739,866 
Cash flows from investing activities:
Capital expenditures— (162,515)(4,563)— (167,078)
Acquisitions— (479,766)— — (479,766)
Proceeds from disposition of assets and investments— 3,358 12,291 — 15,649 
Investment in subsidiaries(479,766)— — 479,766 — 
Decrease (increase) in intercompany notes receivable81,526 — — (81,526)— 
Decrease in notes receivable— 58 12,066 — 12,124 
Net cash (used in) provided by investing activities(398,240)(638,865)19,794 398,240 (619,071)
Cash flows from financing activities:
Proceeds received from revolving credit facility445,000 — — — 445,000 
Payment on revolving credit facility(575,000)— — — (575,000)
Principal payments on long-term debt— (365)— — (365)
Principal payments on financing leases— (1,331)— — (1,331)
Proceeds received from senior credit facility term loans350,000 — — — 350,000 
Proceeds received from accounts receivable securitization program— — 265,000 — 265,000 
Payment on accounts receivable securitization program— — (190,000)— (190,000)
Debt issuance costs(1,347)— (236)— (1,583)
Intercompany loan (payments) proceeds— (14,619)(66,907)81,526 — 
Distributions to non-controlling interest— — (814)— (814)
Dividends (to) from parent(518,753)(702,003)— 702,003 (518,753)
Contributions from (to) parent60,273 479,766 — (479,766)60,273 
Net cash (used in) provided by financing activities(239,827)(238,552)7,043 303,763 (167,573)
Effect of exchange rate changes in cash and cash equivalents— — (391)— (391)
Net (decrease) increase in cash and cash equivalents(51,294)(2,209)6,334 — (47,169)
Cash and cash equivalents at beginning of period91,023 3,494 4,771 — 99,288 
Cash and cash equivalents at end of period$39,729 $1,285 $11,105 $— $52,119 
Condensed Consolidating Statement of Cash Flows for the Year Ended December 31, 2021
Lamar Media Corp.Guarantor SubsidiariesNon-Guarantor SubsidiariesEliminationsLamar Media Consolidated
Cash flows from operating activities:
Net cash provided by (used in) operating activities$596,116 $849,072 $(21,301)$(708,341)$715,546 
Cash flows from investing activities:
Acquisitions— (312,257)— — (312,257)
Capital expenditures— (119,728)(6,362)— (126,090)
Payment for investments in equity securities— (30,000)— — (30,000)
Proceeds from disposition of assets and investments— 6,480 — — 6,480 
Investment in subsidiaries(342,257)— — 342,257 — 
Decrease (increase) in intercompany notes receivable51,976 — — (51,976)— 
Decrease in notes receivable— 107 — — 107 
Net cash (used in) provided by investing activities(290,281)(455,398)(6,362)290,281 (461,760)
Cash flows from financing activities:
Proceeds received from revolving credit facility200,000 — — — 200,000 
Payment on revolving credit facility(25,000)— — — (25,000)
Principal payments on long-term debt— (378)— — (378)
Principal payments on financing leases— (1,331)— — (1,331)
Proceeds received from accounts receivable securitization program— — 180,000 — 180,000 
Payment on accounts receivable securitization program— — (127,500)— (127,500)
Debt issuance costs(8,385)— (438)— (8,823)
Proceeds received from note offering550,000 — — — 550,000 
Redemption of senior notes and senior subordinated notes(668,688)— — — (668,688)
Intercompany loan (payments) proceeds— (24,119)(27,857)51,976 — 
Distributions to non-controlling interest— — (601)— (601)
Contributions from (to) parent37,548 342,257 — (342,257)37,548 
Dividends (to) from parent(410,875)(708,341)— 708,341 (410,875)
Net cash (used in) provided by financing activities(325,400)(391,912)23,604 418,060 (275,648)
Effect of exchange rate changes in cash and cash equivalents— — 81 — 81 
Net (decrease) increase in cash and cash equivalents(19,565)1,762 (3,978)— (21,781)
Cash and cash equivalents at beginning of  period110,588 1,732 8,749 — 121,069 
Cash and cash equivalents at end of period$91,023 $3,494 $4,771 $— $99,288