Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Allowance For Doubtful Accounts

A rollforward of the allowance for doubtful accounts is as follows:

(in thousands)
January 1, 2022	$	4,256
Charged to costs and expenses	1,674
Amounts charged off, net	(967)
Balance as of December 31, 2022	4,963
Charged to costs and expenses	14,786
Amounts charged off, net	(14,708)
Balance as of December 31, 2023	5,041
Charged to costs and expenses	15,875
Amounts charged off, net	(13,467)
Balance as of December 31, 2024	$	7,449

Estimated Useful Lives of Property and Equipment

We compute depreciation using the straight-line method over estimated useful lives as follows:

Buildings and improvements	15 to 45 years
Leasehold improvements	Shorter of term of lease or useful life
Broadcast transmission towers and related equipment	15 to 35 years
Other broadcast and program production equipment	3 to 15 years
Computer hardware	3 to 5 years
Office and other equipment	3 to 10 years

Property and equipment consisted of the following:

	As of December 31,
(in thousands)	2024		2023
Land and improvements	$	65,212	$	65,402
Buildings and improvements	275,844		252,396
Equipment	646,684		622,981
Computer software	33,389		30,395
Total	1,021,129		971,174
Accumulated depreciation	(567,229)		(515,919)
Net property and equipment	$	453,900	$	455,255

Schedule of Components of Basic and Diluted Weighted-average Shares

The following table presents information about basic and diluted weighted-average shares outstanding:

	For the years ended December 31,
(in thousands)	2024		2023		2022
Numerator (for basic and diluted earnings per share)
Net income (loss)	$	146,218	$	(947,784)	$	195,902
Less income allocated to RSUs	(709)		—		(3,662)
Less preferred stock dividends	(58,615)		(50,305)		(50,305)
Numerator for basic and diluted earnings per share	$	86,894	$	(998,089)	$	141,935
Denominator
Basic weighted-average shares outstanding	85,738		84,266		83,220
Effect of dilutive securities	329		—		4,126
Diluted weighted-average shares outstanding	86,067		84,266		87,346