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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net revenues $ 476,894 $ 386,110 $ 1,292,827 $ 1,140,331
Revenue, Product and Service [Extensible List] Advertising Advertising Advertising Advertising
Operating expenses (income)        
Direct advertising expenses (exclusive of depreciation and amortization) $ 147,310 $ 136,309 $ 418,973 $ 419,862
Cost, Product and Service [Extensible List] Advertising Advertising Advertising Advertising
General and administrative expenses (exclusive of depreciation and amortization) $ 85,946 $ 66,749 $ 234,429 $ 216,361
Corporate expenses (exclusive of depreciation and amortization) 26,028 17,266 64,431 52,507
Depreciation and amortization 84,300 61,237 205,671 187,548
Gain on disposition of assets (26) (1,304) (1,922) (4,823)
Total operating expenses 343,558 280,257 921,582 871,455
Operating income 133,336 105,853 371,245 268,876
Other expense (income)        
Loss on extinguishment of debt 0 7,051 21,604 25,235
Interest income (198) (248) (554) (617)
Interest expense 26,125 35,068 80,638 107,058
Equity in earnings of investee (1,141) 0 (1,141) 0
Non-operating (income) expenses 24,786 41,871 100,547 131,676
Income (loss) before income tax expense (benefit) 108,550 63,982 270,698 137,200
Income tax expense 1,712 1,224 5,922 2,520
Net income 106,838 62,758 264,776 134,680
Cash dividends declared and paid on preferred stock 91 91 273 273
Net income applicable to common stock $ 106,747 $ 62,667 $ 264,503 $ 134,407
Earnings per share:        
Basic earnings per share (in dollars per share) $ 1.05 $ 0.62 $ 2.62 $ 1.33
Diluted earnings per share (in dollars per share) 1.05 0.62 2.61 1.33
Cash dividends declared per share of common stock (in dollars per share) $ 1.00 $ 0.50 $ 2.50 $ 2.00
Weighted average common shares used in computing earnings per share:        
Weighted average common shares outstanding basic (in shares) 101,195,158 100,812,570 101,097,124 100,722,859
Weighted average common shares outstanding diluted (in shares) 101,401,754 100,924,981 101,298,444 100,860,870
Statements of Comprehensive Income        
Net income $ 106,838 $ 62,758 $ 264,776 $ 134,680
Other comprehensive (loss) income        
Foreign currency translation adjustments (588) 330 (84) (528)
Total comprehensive income (loss) 106,250 63,088 264,692 134,152
LAMAR MEDIA CORP. AND SUBSIDIARIES        
Net revenues $ 476,894 $ 386,110 $ 1,292,827 $ 1,140,331
Revenue, Product and Service [Extensible List] Advertising Advertising Advertising Advertising
Operating expenses (income)        
Direct advertising expenses (exclusive of depreciation and amortization) $ 147,310 $ 136,309 $ 418,973 $ 419,862
Cost, Product and Service [Extensible List] Advertising Advertising Advertising Advertising
General and administrative expenses (exclusive of depreciation and amortization) $ 85,947 $ 66,749 $ 234,115 $ 216,361
Corporate expenses (exclusive of depreciation and amortization) 25,891 17,129 64,048 52,141
Depreciation and amortization 84,300 61,237 205,671 187,548
Gain on disposition of assets (26) (1,304) (1,922) (4,823)
Total operating expenses 343,422 280,120 920,885 871,089
Operating income 133,472 105,990 371,942 269,242
Other expense (income)        
Loss on extinguishment of debt 0 7,051 21,604 25,235
Interest income (198) (248) (554) (617)
Interest expense 26,125 35,068 80,638 107,058
Equity in earnings of investee (1,141) 0 (1,141) 0
Non-operating (income) expenses 24,786 41,871 100,547 131,676
Income (loss) before income tax expense (benefit) 108,686 64,119 271,395 137,566
Income tax expense 1,712 1,224 5,922 2,520
Net income 106,974 62,895 265,473 135,046
Statements of Comprehensive Income        
Net income 106,974 62,895 265,473 135,046
Other comprehensive (loss) income        
Foreign currency translations (588) 330 (84) (528)
Total comprehensive income (loss) $ 106,386 $ 63,225 $ 265,389 $ 134,518