Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

2016 Acquisitions [Member]

Summary of Allocation of Acquisition Costs

The following is a summary of the allocation of the acquisition costs in the above transactions.

	Total
Property, plant and equipment	$	100,257
Goodwill		180,001
Site locations		268,763
Non-competition agreements		130
Customer lists and contracts		45,619
Asset acquisition costs		166
Current assets		6,694
Other assets		4,185
Current liabilities		(9,714	)
Long–term liabilities		(2,047	)
	$	594,054

Summary of Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information for the Company gives effect to the 2016 and 2015 acquisitions as if they had occurred on January 1, 2015. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company’s results of operations for any future period.

	2016		2015
	(unaudited)
Net revenues	$	1,509,704	$	1,469,699
Net income applicable to common stock	$	297,164	$	251,299
Net income per common share — basic	$	3.06	$	2.61
Net income per common share — diluted	$	3.04	$	2.61

2015 Acquisitions [Member]

Summary of Allocation of Acquisition Costs

The following is a summary of the allocation of the acquisition costs in the above transactions.

	Total
Property, plant and equipment	$	26,547
Goodwill		34,275
Site locations		87,899
Non-competition agreements		455
Customer lists and contracts		14,901
Current assets		5,650
Current liabilities		(8,674	)
Long-term liabilities		(2,501	)
	$	158,552

Summary of Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information for the Company gives effect to the 2015 and 2014 acquisitions as if they had occurred on January 1, 2014. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company’s results of operations for any future period.

	2015		2014
	(unaudited)
Net revenues	$	1,374,831	$	1,336,710
Net income applicable to common stock	$	263,079	$	256,245
Net income per common share — basic	$	2.73	$	2.69
Net income per common share — diluted	$	2.73	$	2.69