PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2022

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

5. PROPERTY AND EQUIPMENT:

Property and equipment are carried at cost less accumulated depreciation. 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
	2022		2021		Useful Lives
	(In thousands)
Land and improvements	$	4,128	$	4,128	—
Buildings		3,299		3,241	31 years
Transmitters and towers		45,733		43,466	7‑15 years
Equipment		67,025		63,192	3‑7 years
Furniture and fixtures		9,357		9,397	6 years
Software and web development		32,565		31,337	3 years
Leasehold improvements		25,231		24,727	Lesser of useful life or lease term
Construction-in-progress		153		476	—
		187,491		179,964
Less: accumulated depreciation		(159,733)		(153,673)
Property and equipment, net	$	27,758	$	26,291

Depreciation expense for the years ended December 31, 2022, and 2021 was approximately $6.4 million and $5.6 million, respectively. Repairs and maintenance costs are expensed as incurred.